2001 THIRD QUARTER REPORT 

 
Consolidated Statements of Income

(Unaudited)

Three Months
Ended September 30,		 Nine Months
Ended September 30,
-------------------------------- ---------------------------------
2001 2000 2001 2000
Revenues:
    Oil and gas sales $  39,346 $  48,717 $  153,155 $  131,403
    Fees from limited partnerships and joint ventures 19 138 212 258
    Interest income 16 445 40 1,084
    Price-risk management and other, net 1,863 225 2,533 655
------------- ------------- ------------- -------------
41,244 49,525 155,940 133,400
------------- ------------- ------------- -------------
Costs and Expenses:
    Oil and gas production 9,285 7,569 27,223 20,601
    General and administrative, net 2,100 1,649 5,991 4,257
    Depreciation, depletion, and amortization 14,858 11,589 42,964 34,611
    Interest expense, net 3,394 3,970 9,232 12,046
------------- ------------- ------------- -------------
29,637 24,777 85,410 71,515
------------- ------------- ------------- -------------
Income Before Income Taxes and Cumulative Effect
        of Change in Accounting Principle 		11,607 24,748 70,530 61,885
Provision for Income Taxes 4,187 8,916 25,417 22,250
------------- ------------- ------------- -------------
Income Before Cumulative Effect of Change 
        in Accounting Principle		 7,420      15,832 45,113 39,635
Cumulative Effect of Change in Accounting Principle
        (net of taxes)		 --- --- 393 ---
------------- ------------- ------------- -------------
Net Income $     7,420 $     15,832 $     44,720 $     39,635
========= ======== ========= ========
Per Share Amounts-
    Basic:  Income Before Cumulative Effect of Change
                 in Accounting Principle 		$         0.30 $       0.74 $         1.83 $       1.88
               Cumulative Effect of Change
                 in Accounting Principle 		              --- ---               0.02 ---
------------- ------------ ------------- ------------
                 Net Income $          0.30 $       0.74 $         1.81 $       1.88
======== ======== ======== ========
    Diluted:  Income Before Cumulative Effect of Change
                   in Accounting Principle 		$          0.29 $        0.66 $          1.77 $        1.71
                 Cumulative Effect of Change
                   in Accounting Principle 		              --- ---               0.02 ---
------------- ------------ ------------- ------------
                 Net Income $           0.29 $        0.66 $           1.75 $        1.71
======== ======== ======== ========
Weighted Average Shares Outstanding 24,760 21,348 24,716 21,068

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