Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations

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Consolidated Statements Of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues:      
Oil and condensate sales $ 242,708 $ 222,025 $ 121,350
Gas sales 3,225 3,838 3,468
Natural gas liquid sales 2,668 3,090 2,818
Other income (expense) 325 301 285
Total Revenues 248,926 229,254 127,921
Costs and expenses:      
Lease operating expenses 24,308 20,897 17,614
Production taxes 29,400 26,333 13,966
Depreciation, depletion, and amortization 90,749 62,320 38,907
General and administrative 13,808 8,074 6,063
Accretion expense 698 666 617
Gain on sale of assets (7,300) 0 0
Total Costs and Expenses 151,663 118,290 77,167
INCOME FROM OPERATIONS 97,263 110,964 50,754
OTHER (INCOME) EXPENSE:      
Interest Expense 7,458 1,400 2,761
Interest income (72) (186) (387)
(Income) loss from equity method investments (8,322) 1,418 977
Total Other (Income) Expense (936) 2,632 3,351
INCOME BEFORE INCOME TAXES 98,199 108,332 47,403
INCOME TAX EXPENSE (BENEFIT) 26,363 (90) 40
INCOME FROM CONTINUING OPERATIONS 71,836 108,422 47,363
DISCONTINUED OPERATIONS      
Loss on disposal of Belize properties, net of tax 3,465 0 0
NET INCOME $ 68,371 $ 108,422 $ 47,363
NET INCOME PER COMMON SHARE:      
Basic net income from continuing operations per share (usd per share) $ 1.28 $ 2.22 $ 1.08
Basic net income from discontinued operations, net of tax, per share (usd per share) $ (0.06) $ 0.00 $ 0.00
Basic net income per share (usd per share) $ 1.22 $ 2.22 $ 1.08
Diluted net income from continuing operations per share (usd per share) $ 1.27 $ 2.20 $ 1.07
Diluted net income from discontinued operations, net of tax, per share (usd per share) $ (0.06) $ 0.00 $ 0.00
Diluted (usd per share) $ 1.21 $ 2.20 $ 1.07
Weighted average common shares outstanding - Basic (shares) 55,933,354 48,754,840 43,863,190
Weighted average common shares outstanding-Diluted (shares) 56,417,488 49,206,963 44,256,092