|
|
|
|
2005 FIRST QUARTER REPORT
Consolidated Statements of Income
(Unaudited)
(in Thousands Except Income per Share)
|
Three
Months
Ended March 31, |
|
------------------------------------------- |
|
2005 |
2004 |
| Revenues: |
|
|
| Oil and gas sales |
$ 95,522 |
$ 65,954 |
| Price-risk
management and other, net |
99 |
(598) |
|
------------- |
------------- |
|
95,621 |
65,356 |
|
------------- |
------------- |
| Costs and Expenses: |
|
|
| General and administrative, net |
4,874 |
4,030 |
| Depreciation, depletion, and
amortization |
24,205 |
18,296 |
| Accretion
of asset retirement obligation |
187 |
170 |
| Lease
operating costs |
11,049 |
9,626 |
| Severance
and other taxes |
9,203 |
6,247 |
| Interest expense, net |
6,344 |
6,901 |
|
------------- |
------------- |
|
55,862 |
45,270 |
|
------------- |
------------- |
| Income Before Income Taxes
|
39,758 |
20,086 |
| Provision for Income Taxes |
14,069 |
5,498 |
|
------------- |
------------- |
| Net Income |
$ 25,689 |
$ 14,588 |
|
========= |
========= |
|
|
|
| Per Share Amounts- |
|
|
| Basic: Net Income
|
$ 0.91 |
$ 0.53 |
|
======== |
======== |
| Diluted: Net Income
|
$ 0.89 |
$ 0.52 |
|
======== |
======== |
|
|
|
| Weighted Average Shares Outstanding |
28,161 |
27,553 |
|
======== |
======== |
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|
