|
|
|
|
1999 FIRST QUARTER REPORT
Consolidated Statements of Income
(Unaudited)
(In Thousands Except Income Per Share)
|
Three Months Ended March 31, |
|
|
|
1999 |
1998 |
| Revenues: |
|
|
| Oil and gas sales |
$ 21,096 |
$ 15,802 |
| Fees from limited partnerships
and joint ventures |
42 |
80 |
| Interest income |
14 |
19 |
| Other, net |
336 |
575 |
|
------------- |
------------- |
|
21,488 |
16,476 |
|
------------- |
------------- |
| Costs and Expenses: |
|
|
| Oil and gas production |
4,420 |
2,520 |
| General and administrative, net |
1,110 |
1,000 |
| Depreciation, depletion, and
amortization |
10,748 |
6,735 |
| Interest expense, net |
3,304 |
1,385 |
|
------------- |
------------- |
|
19,582 |
11,640 |
|
------------- |
------------- |
| Income Before Income Taxes |
1,906 |
4,836 |
| Provision for Income Taxes |
624 |
1,606 |
|
------------- |
------------- |
| Net Income |
1,282 |
3,230 |
|
------------- |
------------- |
| Per Share Amounts-- |
| Basic |
$ 0.08 |
$ 0.20 |
|
------------- |
------------- |
| Diluted |
$ 0.08 |
$ 0.20 |
|
------------- |
------------- |
| Weighted Average Shares Outstanding |
16,156 |
16,500 |
|
------------- |
------------- |
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