|
|
|
|
2004 THIRD QUARTER REPORT
Consolidated Statements of Income
(Unaudited)
(in Thousands Except Income per Share)
|
|
Three
Months
Ended September 30, |
|
|
Nine
Months
Ended September 30, |
|
|
------------------------------------- |
|
|
----------------------------------------- |
|
|
2004 |
|
2003 |
|
|
2004 |
|
2003 |
| Revenues: |
|
|
|
|
|
|
|
|
|
| Oil
and gas sales |
|
$74,653 |
|
$52,087 |
|
|
$212,431 |
|
$157,847 |
| Price-risk
management and other, net |
|
290 |
|
(535) |
|
|
(1,089) |
|
(2,077) |
|
|
------------- |
|
------------- |
|
|
------------- |
|
------------- |
|
|
74,943 |
|
51,552 |
|
|
211,342 |
|
155,770 |
|
|
------------- |
|
------------- |
|
|
------------- |
|
------------- |
| Costs
and Expenses: |
|
|
|
|
|
|
|
|
|
| General
and administrative, net |
|
4,390 |
|
3,670 |
|
|
12,595 |
|
10,565 |
| Depreciation,
depletion, and amortization |
|
19,845 |
|
16,042 |
|
|
57,650 |
|
46,631 |
| Accretion
of asset retirement obligation |
|
168 |
|
207 |
|
|
499 |
|
624 |
| Lease
operating costs |
|
9,849 |
|
8,664 |
|
|
29,911 |
|
25,149 |
| Severance
and other taxes |
|
7,078 |
|
5,066 |
|
|
20,252 |
|
14,243 |
| Interest
expense, net |
|
7,317 |
|
6,750 |
|
|
21,361 |
|
20,107 |
| Debt
retirement cost |
|
6,823 |
|
--- |
|
|
9,514 |
|
--- |
|
|
------------- |
|
------------- |
|
|
------------- |
|
------------- |
|
|
55,470 |
|
40,399 |
|
|
151,782 |
|
117,319 |
|
|
------------- |
|
------------- |
|
|
------------- |
|
------------- |
| Income
Before Income Taxes and Change in Accounting Principle |
|
19,473 |
|
11,153 |
|
|
59,560 |
|
38,451 |
| Provision
for Income Taxes |
|
5,342 |
|
4,091 |
|
|
17,944 |
|
13,682 |
|
|
------------- |
|
------------- |
|
|
------------- |
|
------------- |
| Income
Before Change in Accounting Principle |
|
14,131 |
|
7,062 |
|
|
41,616 |
|
24,769 |
Cumulative
Effect of Change in Accounting Principle
(net of taxes) |
|
--- |
|
--- |
|
|
--- |
|
4,377 |
|
|
------------- |
|
------------- |
|
|
------------- |
|
------------- |
| Net
Income |
|
$14,131 |
|
$7,062 |
|
|
$41,616 |
|
$20,392 |
|
|
======= |
|
======= |
|
|
======= |
|
======= |
|
|
|
|
|
|
|
|
|
|
| Per
Share Amounts- |
|
|
|
|
|
|
|
|
|
Basic:
Income Before Change
in Accounting Principle |
|
$0.51 |
|
$0.26 |
|
|
$1.50 |
|
$0.91 |
| Change
in Accounting Principle |
|
--- |
|
--- |
|
|
--- |
|
(0.16) |
|
|
------------- |
|
------------- |
|
|
------------- |
|
------------- |
|
Net Income |
|
$0.51 |
|
$0.26 |
|
|
$1.50 |
|
$ 0.75 |
|
|
======== |
|
======== |
|
|
======== |
|
======== |
Diluted:
Income Before Change
in Accounting Principle |
|
$0.50 |
|
$0.26 |
|
|
$1.47 |
|
$0.90 |
|
Change in Accounting Principle |
|
--- |
|
--- |
|
|
--- |
|
(0.16) |
|
|
------------- |
|
------------- |
|
|
------------- |
|
------------- |
|
Net Income |
|
$0.50 |
|
$0.26 |
|
|
$1.47 |
|
$0.74 |
|
|
======= |
|
======= |
|
|
======== |
|
======== |
|
|
|
|
|
|
|
|
|
|
| Weighted
Average Shares Outstanding |
|
27,948 |
|
27,424 |
|
|
27,748 |
|
27,326 |
|
|
|
|
|
|
|
|
|
|
This page was last updated on Wednesday, December 15, 2004, at 09:28:51 AM.
Copyright © 1994-2008 by Swift Energy Company.
Click here to go to our home page or search
page.
Please note the terms of use for
the Swift Energy web site.
If you have comments or questions, see our feedback or
requests pages.
Contact Swift Energy Company Stockholder Relations through e-mail info@swiftenergy.com
or telephone (281) 874-2700.
|
