|
|
|
|
1999 THIRD QUARTER REPORT
Consolidated Statements of Income
(Unaudited)
(In Thousands Except Income Per Share)
|
Three
Months |
Nine
Months |
|
Ended
September 30, |
Ended
September 30, |
|
|
|
|
1999 |
1998 |
1999 |
1998 |
| Revenues: |
| Oil and gas sales |
$ 30,737 |
$ 23,859 |
$ 75,406 |
$ 55,342 |
| Fees from limited partnerships
and joint ventures |
93 |
93 |
192 |
298 |
| Interest income |
244 |
33 |
267 |
96 |
| Other, net |
205 |
573 |
831 |
1,638 |
|
------------- |
------------- |
------------- |
------------- |
|
31,279 |
24,558 |
76,696 |
57,374 |
|
------------- |
------------- |
------------- |
------------- |
| Costs and Expenses: |
| Oil and gas production |
5,138 |
4,045 |
13,689 |
8,920 |
| General and administrative, net |
1,054 |
1,058 |
3,348 |
2,940 |
| Depreciation, depletion, and
amortization |
10,403 |
13,348 |
31,630 |
27,333 |
| Interest expense, net |
3,749 |
2,386 |
10,402 |
5,355 |
| Write down of oil
& gas properties |
--- |
90,773 |
--- |
90,773 |
|
------------- |
------------- |
------------- |
------------- |
|
20,344 |
111,610 |
59,069 |
135,321 |
|
------------- |
------------- |
------------- |
------------- |
| Income (Loss) Before Income Taxes |
10,935 |
(87,052) |
17,627 |
(77,947) |
| Provision (Benefit) for Income Taxes |
3,827 |
(29,621) |
6,085 |
(26,642) |
|
------------- |
------------- |
------------- |
------------- |
| Net Income (Loss) |
$7,108 |
$(57,431) |
$11,542 |
$(51,305) |
|
------------- |
------------- |
------------- |
------------- |
| Per Share Amounts-- |
| Basic |
$0.37 |
$(3.50) |
$0.67 |
$(3.11) |
|
------------- |
------------- |
------------- |
------------- |
| Diluted |
$0.36 |
$(3.50) |
$0.67 |
$(3.11) |
|
------------- |
------------- |
------------- |
------------- |
| Weighted Average Shares Outstanding |
19,070 |
16,419 |
17,126 |
16,481 |
|
------------- |
------------- |
------------- |
------------- |
This page was last updated on Saturday, February 08, 2003, at 07:45:49 PM.
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