|
|
|
|
2004 FIRST QUARTER REPORT
Consolidated Statements of Income
(Unaudited)
(in Thousands Except Income per Share)
|
Three
Months
Ended March 31, |
|
------------------------------------------- |
|
2004 |
2003 |
| Revenues: |
|
|
| Oil and gas sales |
$ 65,954 |
$ 54,850 |
| Price-risk
management and other, net |
(598) |
(1,350) |
|
------------- |
------------- |
|
65,356 |
53,500 |
|
------------- |
------------- |
| Costs and Expenses: |
|
|
| General and administrative, net |
4,030 |
3,556 |
| Depreciation, depletion, and
amortization |
18,296 |
14,912 |
| Accretion
of asset retirement obligation |
170 |
215 |
| Lease
operating costs |
9,626 |
7,313 |
| Severance
and other taxes |
6,247 |
4,595 |
| Interest expense, net |
6,901 |
6,685 |
|
------------- |
------------- |
|
45,270 |
37,276 |
|
------------- |
------------- |
| Income Before Income Taxes and Change in
Accounting Principle
|
20,086 |
16,224 |
| Provision for Income Taxes |
5,498 |
5,739 |
|
------------- |
------------- |
| Income Before Change in
Accounting Principle |
14,588 |
10,485 |
Cumulative Effect of Change in Accounting
Principle
(net of taxes) |
--- |
4,377 |
|
------------- |
------------- |
| Net Income |
$ 14,588 |
$ 6,108 |
|
========= |
======== |
|
|
|
| Per Share Amounts- |
|
|
Basic:
Income Before Change
in Accounting Principle
|
$ 0.53 |
$ 0.38 |
|
Change in Accounting Principle
|
--- |
(0.16) |
|
|
------------- |
------------- |
|
Net Income
|
$ 0.53 |
$ 0.22 |
|
======== |
======== |
Diluted:
Income Before Change
in Accounting Principle
|
$ 0.52 |
$ 0.38 |
|
Change
in Accounting Principle
|
--- |
(0.16) |
|
|
------------- |
------------- |
|
Net Income
|
$ 0.52 |
$ 0.22 |
|
======== |
======== |
|
|
|
| Weighted Average Shares Outstanding |
27,553 |
27,243 |
|
======== |
======== |
This page was last updated on Monday, August 23, 2004, at 09:41:34 AM.
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|
