|
Condensed Consolidating Financial Statements (Tables)
|
3 Months Ended |
12 Months Ended |
|
Mar. 31, 2013
|
Dec. 31, 2012
|
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
|
| Condensed Consolidating Balance Sheet |
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2013 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Assets |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
225,269 |
|
|
$ |
710 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
225,980 |
|
Accounts receivable - oil and gas |
21,495 |
|
|
528 |
|
|
— |
|
|
— |
|
|
22,023 |
|
Accounts receivable - related parties |
35,031 |
|
|
2,031 |
|
|
— |
|
|
— |
|
|
37,062 |
|
Accounts receivable - intercompany |
15,604 |
|
|
— |
|
|
— |
|
|
(15,604 |
) |
|
— |
|
Prepaid expenses and other current assets |
1,435 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,435 |
|
Short-term derivative instruments |
343 |
|
|
— |
|
|
— |
|
|
— |
|
|
343 |
|
Total current assets |
299,177 |
|
|
3,269 |
|
|
1 |
|
|
(15,604 |
) |
|
286,843 |
|
Property and equipment: |
|
|
|
|
|
|
|
|
|
Oil and natural gas properties, full-cost accounting, |
1,927,051 |
|
|
5,368 |
|
|
— |
|
|
— |
|
|
1,932,419 |
|
Other property and equipment |
8,897 |
|
|
27 |
|
|
— |
|
|
— |
|
|
8,924 |
|
Accumulated depletion, depreciation, amortization and impairment |
(688,447 |
) |
|
(20 |
) |
|
— |
|
|
— |
|
|
(688,467 |
) |
Property and equipment, net |
1,247,501 |
|
|
5,375 |
|
|
— |
|
|
— |
|
|
1,252,876 |
|
Other assets: |
|
|
|
|
|
|
|
|
|
Equity investments and investments in subsidiaries |
444,422 |
|
|
— |
|
|
176,196 |
|
|
(169,026 |
) |
|
451,592 |
|
Other assets |
13,159 |
|
|
— |
|
|
— |
|
|
— |
|
|
13,159 |
|
Total other assets |
457,581 |
|
|
— |
|
|
176,196 |
|
|
(169,026 |
) |
|
464,751 |
|
Total assets |
$ |
2,004,259 |
|
|
$ |
8,644 |
|
|
$ |
176,197 |
|
|
$ |
(184,630 |
) |
|
$ |
2,004,470 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
109,566 |
|
|
$ |
211 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
109,777 |
|
Accounts payable - intercompany |
— |
|
|
15,495 |
|
|
109 |
|
|
(15,604 |
) |
|
— |
|
Asset retirement obligation - current |
780 |
|
|
— |
|
|
— |
|
|
— |
|
|
780 |
|
Short-term derivative instruments |
9,689 |
|
|
— |
|
|
— |
|
|
— |
|
|
9,689 |
|
Deferred tax liability |
158 |
|
|
— |
|
|
— |
|
|
— |
|
|
158 |
|
Current maturities of long-term debt |
152 |
|
|
— |
|
|
— |
|
|
— |
|
|
152 |
|
Total current liabilities |
120,345 |
|
|
15,706 |
|
|
109 |
|
|
(15,604 |
) |
|
120,556 |
|
Asset retirement obligation - long-term |
12,560 |
|
|
— |
|
|
— |
|
|
— |
|
|
12,560 |
|
Deferred tax liability |
45,382 |
|
|
— |
|
|
— |
|
|
— |
|
|
45,382 |
|
Long-term debt, net of current maturities |
298,921 |
|
|
— |
|
|
— |
|
|
— |
|
|
298,921 |
|
Other non-current liabilities |
142 |
|
|
— |
|
|
— |
|
|
— |
|
|
142 |
|
Total liabilities |
477,350 |
|
|
15,706 |
|
|
109 |
|
|
(15,604 |
) |
|
477,561 |
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity: |
|
|
|
|
|
|
|
|
|
Common stock |
773 |
|
|
— |
|
|
— |
|
|
— |
|
|
773 |
|
Paid-in capital |
1,395,288 |
|
|
322 |
|
|
181,878 |
|
|
(182,200 |
) |
|
1,395,288 |
|
Accumulated other comprehensive income (loss) |
(6,629 |
) |
|
— |
|
|
(1,125 |
) |
|
1,125 |
|
|
(6,629 |
) |
Retained earnings (accumulated deficit) |
137,477 |
|
|
(7,384 |
) |
|
(4,665 |
) |
|
12,049 |
|
|
137,477 |
|
Total stockholders' equity |
1,526,909 |
|
|
(7,062 |
) |
|
176,088 |
|
|
(169,026 |
) |
|
1,526,909 |
|
Total liabilities and stockholders' equity |
$ |
2,004,259 |
|
|
$ |
8,644 |
|
|
$ |
176,197 |
|
|
$ |
(184,630 |
) |
|
$ |
2,004,470 |
|
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2012 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Assets |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
165,293,000 |
|
|
$ |
1,795,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
167,088,000 |
|
Accounts receivable - oil and gas |
25,070,000 |
|
|
545,000 |
|
|
— |
|
|
— |
|
|
25,615,000 |
|
Accounts receivable - related parties |
33,806,000 |
|
|
1,042,000 |
|
|
— |
|
|
— |
|
|
34,848,000 |
|
Accounts receivable - intercompany |
15,368,000 |
|
|
|
|
|
|
(15,368,000 |
) |
|
— |
|
Prepaid expenses and other current assets |
1,506,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,506,000 |
|
Short-term derivative instruments |
664,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
664,000 |
|
Total current assets |
241,707,000 |
|
|
3,382,000 |
|
|
— |
|
|
(15,368,000 |
) |
|
229,721,000 |
|
|
|
|
|
|
|
|
|
|
|
Property and equipment: |
|
|
|
|
|
|
|
|
|
Oil and natural gas properties, full-cost accounting, |
1,606,172,000 |
|
|
4,918,000 |
|
|
— |
|
|
— |
|
|
1,611,090,000 |
|
Other property and equipment |
8,642,000 |
|
|
20,000 |
|
|
— |
|
|
— |
|
|
8,662,000 |
|
Accumulated depletion, depreciation, amortization and impairment |
(665,864,000 |
) |
|
(20,000 |
) |
|
— |
|
|
— |
|
|
(665,884,000 |
) |
Property and equipment, net |
948,950,000 |
|
|
4,918,000 |
|
|
— |
|
|
— |
|
|
953,868,000 |
|
Other assets: |
|
|
|
|
|
|
|
|
|
Equity investments and investments in subsidiaries |
374,209,000 |
|
|
— |
|
|
172,766,000 |
|
|
(165,491,000 |
) |
|
381,484,000 |
|
Other assets |
13,295,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
13,295,000 |
|
Total other assets |
387,504,000 |
|
|
— |
|
|
172,766,000 |
|
|
(165,491,000 |
) |
|
394,779,000 |
|
Deferred tax asset |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total assets |
$ |
1,578,161,000 |
|
|
$ |
8,300,000 |
|
|
$ |
172,766,000 |
|
|
$ |
(180,859,000 |
) |
|
$ |
1,578,368,000 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
110,037,000 |
|
|
$ |
207,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
110,244,000 |
|
Accounts payable - intercompany |
— |
|
|
15,259,000 |
|
|
109,000 |
|
|
(15,368,000 |
) |
|
— |
|
Asset retirement obligation - current |
60,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
60,000 |
|
Short-term derivative instruments |
10,442,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,442,000 |
|
Current maturities of long-term debt |
150,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
150,000 |
|
Total current liabilities |
120,689,000 |
|
|
15,466,000 |
|
|
109,000 |
|
|
(15,368,000 |
) |
|
120,896,000 |
|
|
|
|
|
|
|
|
|
|
|
Asset retirement obligation - long-term |
13,215,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
13,215,000 |
|
Deferred tax liability |
18,607,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
18,607,000 |
|
Long-term debt, net of current maturities |
298,888,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
298,888,000 |
|
Other non-current liabilities |
354,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
354,000 |
|
Total liabilities |
451,753,000 |
|
|
15,466,000 |
|
|
109,000 |
|
|
(15,368,000 |
) |
|
451,960,000 |
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity: |
|
|
|
|
|
|
|
|
|
Common stock |
674,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
674,000 |
|
Paid-in capital |
1,036,245,000 |
|
|
322,000 |
|
|
174,348,000 |
|
|
(174,670,000 |
) |
|
1,036,245,000 |
|
Accumulated other comprehensive income (loss) |
(3,429,000 |
) |
|
— |
|
|
2,442,000 |
|
|
(2,442,000 |
) |
|
(3,429,000 |
) |
Retained earnings (accumulated deficit) |
92,918,000 |
|
|
(7,488,000 |
) |
|
(4,133,000 |
) |
|
11,621,000 |
|
|
92,918,000 |
|
Total stockholders' equity |
1,126,408,000 |
|
|
(7,166,000 |
) |
|
172,657,000 |
|
|
(165,491,000 |
) |
|
1,126,408,000 |
|
Total liabilities and stockholders' equity |
$ |
1,578,161,000 |
|
|
$ |
8,300,000 |
|
|
$ |
172,766,000 |
|
|
$ |
(180,859,000 |
) |
|
$ |
1,578,368,000 |
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2011 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
Assets |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
93,124,000 |
|
|
$ |
772,000 |
|
|
$ |
1,000 |
|
|
$ |
— |
|
|
$ |
93,897,000 |
|
Accounts receivable - oil and gas |
27,532,000 |
|
|
487,000 |
|
|
— |
|
|
— |
|
|
28,019,000 |
|
Accounts receivable - related parties |
4,731,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
4,731,000 |
|
Accounts receivable - intercompany |
11,267,000 |
|
|
|
|
|
|
(11,267,000 |
) |
|
— |
|
Prepaid expenses and other current assets |
1,327,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,327,000 |
|
Short-term derivative instruments |
1,601,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,601,000 |
|
Total current assets |
139,582,000 |
|
|
1,259,000 |
|
|
1,000 |
|
|
(11,267,000 |
) |
|
129,575,000 |
|
|
|
|
|
|
|
|
|
|
|
Property and equipment: |
|
|
|
|
|
|
|
|
|
Oil and natural gas properties, full-cost accounting, |
1,026,017,000 |
|
|
9,737,000 |
|
|
— |
|
|
— |
|
|
1,035,754,000 |
|
Other property and equipment |
8,004,000 |
|
|
20,000 |
|
|
— |
|
|
— |
|
|
8,024,000 |
|
Accumulated depletion, depreciation, amortization and impairment |
(575,122,000 |
) |
|
(20,000 |
) |
|
— |
|
|
— |
|
|
(575,142,000 |
) |
Property and equipment, net |
458,899,000 |
|
|
9,737,000 |
|
|
— |
|
|
— |
|
|
468,636,000 |
|
|
|
|
|
|
|
|
|
|
|
Other assets: |
|
|
|
|
|
|
|
|
|
Equity investments and investments in subsidiaries |
86,426,000 |
|
|
— |
|
|
69,008,000 |
|
|
(68,610,000 |
) |
|
86,824,000 |
|
Other assets |
5,123,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
5,123,000 |
|
Total other assets |
91,549,000 |
|
|
— |
|
|
69,008,000 |
|
|
(68,610,000 |
) |
|
91,947,000 |
|
Deferred tax asset |
1,000,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,000,000 |
|
Total assets |
$ |
691,030,000 |
|
|
$ |
10,996,000 |
|
|
$ |
69,009,000 |
|
|
$ |
(79,877,000 |
) |
|
$ |
691,158,000 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
43,744,000 |
|
|
$ |
128,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
43,872,000 |
|
Accounts payable - intercompany |
— |
|
|
11,231,000 |
|
|
36,000 |
|
|
(11,267,000 |
) |
|
— |
|
Asset retirement obligation - current |
620,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
620,000 |
|
Current maturities of long-term debt |
141,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
141,000 |
|
Total current liabilities |
44,505,000 |
|
|
11,359,000 |
|
|
36,000 |
|
|
(11,267,000 |
) |
|
44,633,000 |
|
|
|
|
|
|
|
|
|
|
|
Asset retirement obligation - long-term |
12,033,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
12,033,000 |
|
Long-term debt, net of current maturities |
2,142,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,142,000 |
|
Total liabilities |
58,680,000 |
|
|
11,359,000 |
|
|
36,000 |
|
|
(11,267,000 |
) |
|
58,808,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity: |
|
|
|
|
|
|
|
|
|
Common stock |
556,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
556,000 |
|
Paid-in capital |
604,584,000 |
|
|
322,000 |
|
|
70,433,000 |
|
|
(70,755,000 |
) |
|
604,584,000 |
|
Accumulated other comprehensive income |
2,663,000 |
|
|
— |
|
|
1,087,000 |
|
|
(1,087,000 |
) |
|
2,663,000 |
|
Retained earnings (accumulated deficit) |
24,547,000 |
|
|
(685,000 |
) |
|
(2,547,000 |
) |
|
3,232,000 |
|
|
24,547,000 |
|
Total stockholders' equity |
632,350,000 |
|
|
(363,000 |
) |
|
68,973,000 |
|
|
(68,610,000 |
) |
|
632,350,000 |
|
Total liabilities and stockholders' equity |
$ |
691,030,000 |
|
|
$ |
10,996,000 |
|
|
$ |
69,009,000 |
|
|
$ |
(79,877,000 |
) |
|
$ |
691,158,000 |
|
|
| Condensed Consolidating Statements of Operations |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2013 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
54,662 |
|
|
$ |
338 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
55,000 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
4,998 |
|
|
174 |
|
|
— |
|
|
— |
|
|
5,172 |
|
Production taxes |
7,261 |
|
|
26 |
|
|
— |
|
|
— |
|
|
7,287 |
|
Depreciation, depletion, and amortization |
22,583 |
|
|
— |
|
|
— |
|
|
— |
|
|
22,583 |
|
General and administrative |
4,378 |
|
|
34 |
|
|
— |
|
|
— |
|
|
4,412 |
|
Accretion expense |
175 |
|
|
— |
|
|
— |
|
|
— |
|
|
175 |
|
Loss on sale of assets |
427 |
|
|
— |
|
|
— |
|
|
— |
|
|
427 |
|
|
39,822 |
|
|
234 |
|
|
— |
|
|
— |
|
|
40,056 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM OPERATIONS |
14,840 |
|
|
104 |
|
|
— |
|
|
— |
|
|
14,944 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
3,479 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,479 |
|
Interest income |
(79 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(79 |
) |
(Income) loss from equity method investments and investments in subsidiaries |
(61,314 |
) |
|
— |
|
|
532 |
|
|
(428 |
) |
|
(61,210 |
) |
|
(57,914 |
) |
|
— |
|
|
532 |
|
|
(428 |
) |
|
(57,810 |
) |
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
72,754 |
|
|
104 |
|
|
(532 |
) |
|
428 |
|
|
72,754 |
|
INCOME TAX EXPENSE |
28,195 |
|
|
— |
|
|
— |
|
|
— |
|
|
28,195 |
|
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
44,559 |
|
|
$ |
104 |
|
|
$ |
(532 |
) |
|
$ |
428 |
|
|
$ |
44,559 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2012 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
65,165 |
|
|
$ |
296 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
65,461 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
5,645 |
|
|
204 |
|
|
— |
|
|
— |
|
|
5,849 |
|
Production taxes |
7,747 |
|
|
22 |
|
|
— |
|
|
— |
|
|
7,769 |
|
Depreciation, depletion, and amortization |
21,395 |
|
|
— |
|
|
— |
|
|
— |
|
|
21,395 |
|
General and administrative |
2,964 |
|
|
20 |
|
|
25 |
|
|
— |
|
|
3,009 |
|
Accretion expense |
176 |
|
|
— |
|
|
— |
|
|
— |
|
|
176 |
|
|
37,927 |
|
|
246 |
|
|
25 |
|
|
— |
|
|
38,198 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM OPERATIONS |
27,238 |
|
|
50 |
|
|
(25 |
) |
|
— |
|
|
27,263 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
153 |
|
|
— |
|
|
— |
|
|
— |
|
|
153 |
|
Interest income |
(27 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(27 |
) |
(Income) loss from equity method investments |
243 |
|
|
— |
|
|
278 |
|
|
(253 |
) |
|
268 |
|
|
369 |
|
|
— |
|
|
278 |
|
|
(253 |
) |
|
394 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
26,869 |
|
|
50 |
|
|
(303 |
) |
|
253 |
|
|
26,869 |
|
INCOME TAX EXPENSE |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
$ |
26,869 |
|
|
$ |
50 |
|
|
$ |
(303 |
) |
|
$ |
253 |
|
|
$ |
26,869 |
|
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2012 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
247,637,000 |
|
|
$ |
1,289,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
248,926,000 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
23,644,000 |
|
|
664,000 |
|
|
— |
|
|
— |
|
|
24,308,000 |
|
Production taxes |
29,306,000 |
|
|
94,000 |
|
|
— |
|
|
— |
|
|
29,400,000 |
|
Depreciation, depletion, and amortization |
90,749,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
90,749,000 |
|
General and administrative |
13,602,000 |
|
|
132,000 |
|
|
74,000 |
|
|
— |
|
|
13,808,000 |
|
Accretion expense |
698,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
698,000 |
|
Gain on sale of asset |
(7,300,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(7,300,000 |
) |
|
150,699,000 |
|
|
890,000 |
|
|
74,000 |
|
|
— |
|
|
151,663,000 |
|
INCOME (LOSS) FROM OPERATIONS |
96,938,000 |
|
|
399,000 |
|
|
(74,000 |
) |
|
— |
|
|
97,263,000 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
7,458,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
7,458,000 |
|
Interest income |
(72,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(72,000 |
) |
(Income) loss from equity method investments and subsidiaries |
(5,182,000 |
) |
|
— |
|
|
1,512,000 |
|
|
(4,652,000 |
) |
|
(8,322,000 |
) |
|
2,204,000 |
|
|
— |
|
|
1,512,000 |
|
|
(4,652,000 |
) |
|
(936,000 |
) |
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |
94,734,000 |
|
|
399,000 |
|
|
(1,586,000 |
) |
|
4,652,000 |
|
|
98,199,000 |
|
INCOME TAX EXPENSE |
26,363,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
26,363,000 |
|
INCOME (LOSS) FROM CONTINUING OPERATIONS |
68,371,000 |
|
|
399,000 |
|
|
(1,586,000 |
) |
|
4,652,000 |
|
|
71,836,000 |
|
DISCONTINUED OPERATIONS |
— |
|
|
3,465,000 |
|
|
— |
|
|
— |
|
|
3,465,000 |
|
NET INCOME (LOSS) |
$ |
68,371,000 |
|
|
$ |
(3,066,000 |
) |
|
$ |
(1,586,000 |
) |
|
$ |
4,652,000 |
|
|
$ |
68,371,000 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2011 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
228,281,000 |
|
|
$ |
973,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
229,254,000 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
20,168,000 |
|
|
729,000 |
|
|
— |
|
|
— |
|
|
20,897,000 |
|
Production taxes |
26,266,000 |
|
|
67,000 |
|
|
— |
|
|
— |
|
|
26,333,000 |
|
Depreciation, depletion, and amortization |
62,320,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
62,320,000 |
|
General and administrative |
8,038,000 |
|
|
11,000 |
|
|
25,000 |
|
|
— |
|
|
8,074,000 |
|
Accretion expense |
666,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
666,000 |
|
|
117,458,000 |
|
|
807,000 |
|
|
25,000 |
|
|
— |
|
|
118,290,000 |
|
INCOME (LOSS) FROM OPERATIONS |
110,823,000 |
|
|
166,000 |
|
|
(25,000 |
) |
|
— |
|
|
110,964,000 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
1,400,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,400,000 |
|
Interest income |
(39,000 |
) |
|
— |
|
|
(147,000 |
) |
|
— |
|
|
(186,000 |
) |
(Income) loss from equity method investments and subsidiaries |
1,130,000 |
|
|
— |
|
|
1,592,000 |
|
|
(1,304,000 |
) |
|
1,418,000 |
|
|
2,491,000 |
|
|
— |
|
|
1,445,000 |
|
|
(1,304,000 |
) |
|
2,632,000 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
108,332,000 |
|
|
166,000 |
|
|
(1,470,000 |
) |
|
1,304,000 |
|
|
108,332,000 |
|
INCOME TAX BENEFIT |
(90,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(90,000 |
) |
NET INCOME (LOSS) |
$ |
108,422,000 |
|
|
$ |
166,000 |
|
|
$ |
(1,470,000 |
) |
|
$ |
1,304,000 |
|
|
$ |
108,422,000 |
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2010 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Total revenues |
$ |
127,380,000 |
|
|
$ |
541,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
127,921,000 |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
|
Lease operating expenses |
17,043,000 |
|
|
571,000 |
|
|
— |
|
|
— |
|
|
17,614,000 |
|
Production taxes |
13,929,000 |
|
|
37,000 |
|
|
— |
|
|
— |
|
|
13,966,000 |
|
Depreciation, depletion, and amortization |
38,902,000 |
|
|
5,000 |
|
|
— |
|
|
— |
|
|
38,907,000 |
|
General and administrative |
6,037,000 |
|
|
24,000 |
|
|
2,000 |
|
|
— |
|
|
6,063,000 |
|
Accretion expense |
617,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
617,000 |
|
|
76,528,000 |
|
|
637,000 |
|
|
2,000 |
|
|
— |
|
|
77,167,000 |
|
INCOME (LOSS) FROM OPERATIONS |
50,852,000 |
|
|
(96,000 |
) |
|
(2,000 |
) |
|
— |
|
|
50,754,000 |
|
|
|
|
|
|
|
|
|
|
|
OTHER (INCOME) EXPENSE: |
|
|
|
|
|
|
|
|
|
Interest expense |
2,761,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,761,000 |
|
Interest income |
(120,000 |
) |
|
— |
|
|
(267,000 |
) |
|
— |
|
|
(387,000 |
) |
Loss from equity method investments and subsidiaries |
808,000 |
|
|
— |
|
|
740,000 |
|
|
(571,000 |
) |
|
977,000 |
|
|
3,449,000 |
|
|
— |
|
|
473,000 |
|
|
(571,000 |
) |
|
3,351,000 |
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES |
47,403,000 |
|
|
(96,000 |
) |
|
(475,000 |
) |
|
571,000 |
|
|
47,403,000 |
|
INCOME TAX EXPENSE |
40,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
40,000 |
|
NET INCOME (LOSS) |
$ |
47,363,000 |
|
|
$ |
(96,000 |
) |
|
$ |
(475,000 |
) |
|
$ |
571,000 |
|
|
$ |
47,363,000 |
|
|
| Condensed Consolidating Statements of Comprehensive Income |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2013 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
44,559 |
|
|
$ |
104 |
|
|
$ |
(532 |
) |
|
$ |
428 |
|
|
$ |
44,559 |
|
Foreign currency translation adjustment |
(3,567 |
) |
|
— |
|
|
(3,567 |
) |
|
3,567 |
|
|
(3,567 |
) |
Change in fair value of derivative instruments, net of taxes |
(1,430 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,430 |
) |
Reclassification of settled contracts, net of taxes |
1,797 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,797 |
|
Other comprehensive income (loss) |
(3,200 |
) |
|
— |
|
|
(3,567 |
) |
|
3,567 |
|
|
(3,200 |
) |
Comprehensive income (loss) |
$ |
41,359 |
|
|
$ |
104 |
|
|
$ |
(4,099 |
) |
|
$ |
3,995 |
|
|
$ |
41,359 |
|
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2012 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
26,869 |
|
|
$ |
50 |
|
|
$ |
(303 |
) |
|
$ |
253 |
|
|
$ |
26,869 |
|
Foreign currency translation adjustment |
939 |
|
|
— |
|
|
939 |
|
|
(939 |
) |
|
939 |
|
Change in fair value of derivative instruments, net of taxes |
(10,621 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(10,621 |
) |
Reclassification of settled contracts, net of taxes |
(100 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(100 |
) |
Other comprehensive income (loss) |
(9,782 |
) |
|
— |
|
|
939 |
|
|
(939 |
) |
|
(9,782 |
) |
Comprehensive income |
$ |
17,087 |
|
|
$ |
50 |
|
|
$ |
636 |
|
|
$ |
(686 |
) |
|
$ |
17,087 |
|
|
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2012 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
68,371,000 |
|
|
$ |
(3,066,000 |
) |
|
$ |
(1,586,000 |
) |
|
$ |
4,652,000 |
|
|
$ |
68,371,000 |
|
Foreign currency translation adjustment |
1,355,000 |
|
|
— |
|
|
1,355,000 |
|
|
(1,355,000 |
) |
|
1,355,000 |
|
Change in fair value of derivative instruments, net of taxes |
(8,452,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(8,452,000 |
) |
Reclassification of settled contracts, net of taxes |
1,005,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,005,000 |
|
Other comprehensive income (loss) |
(6,092,000 |
) |
|
— |
|
|
1,355,000 |
|
|
(1,355,000 |
) |
|
(6,092,000 |
) |
Comprehensive income (loss) |
$ |
62,279,000 |
|
|
$ |
(3,066,000 |
) |
|
$ |
(231,000 |
) |
|
$ |
3,297,000 |
|
|
$ |
62,279,000 |
|
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2011 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
108,422,000 |
|
|
$ |
166,000 |
|
|
$ |
(1,470,000 |
) |
|
$ |
1,304,000 |
|
|
$ |
108,422,000 |
|
Foreign currency translation adjustment |
(1,865,000 |
) |
|
— |
|
|
(1,865,000 |
) |
|
1,865,000 |
|
|
(1,865,000 |
) |
Change in fair value of derivative instruments, net of taxes |
1,576,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,576,000 |
|
Reclassification of settled contracts, net of taxes |
4,720,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
4,720,000 |
|
Other comprehensive income (loss) |
4,431,000 |
|
|
— |
|
|
(1,865,000 |
) |
|
1,865,000 |
|
|
4,431,000 |
|
Comprehensive income (loss) |
$ |
112,853,000 |
|
|
$ |
166,000 |
|
|
$ |
(3,335,000 |
) |
|
$ |
3,169,000 |
|
|
$ |
112,853,000 |
|
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2010 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
47,363,000 |
|
|
$ |
(96,000 |
) |
|
$ |
(475,000 |
) |
|
$ |
571,000 |
|
|
$ |
47,363,000 |
|
Foreign currency translation adjustment |
2,255,000 |
|
|
— |
|
|
2,255,000 |
|
|
(2,255,000 |
) |
|
2,255,000 |
|
Change in fair value of derivative instruments, net of taxes |
(4,720,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(4,720,000 |
) |
Reclassification of settled contracts, net of taxes |
18,736,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
18,736,000 |
|
Other comprehensive income |
16,271,000 |
|
|
— |
|
|
2,255,000 |
|
|
(2,255,000 |
) |
|
16,271,000 |
|
Comprehensive income (loss) |
$ |
63,634,000 |
|
|
$ |
(96,000 |
) |
|
$ |
1,780,000 |
|
|
$ |
(1,684,000 |
) |
|
$ |
63,634,000 |
|
|
| Condensed Consolidating Statements of Cash Flow |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2013 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
$ |
35,682 |
|
|
$ |
(675 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
35,007 |
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities |
(332,807 |
) |
|
(410 |
) |
|
(7,529 |
) |
|
7,530 |
|
|
(333,216 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities |
357,101 |
|
|
— |
|
|
7,530 |
|
|
(7,530 |
) |
|
357,101 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
59,976 |
|
|
(1,085 |
) |
|
1 |
|
|
— |
|
|
58,892 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
165,293 |
|
|
1,795 |
|
|
— |
|
|
— |
|
|
167,088 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
$ |
225,269 |
|
|
$ |
710 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
225,980 |
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2012 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
69,101 |
|
|
$ |
328 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
69,429 |
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities |
(160,344 |
) |
|
(55 |
) |
|
(67,063 |
) |
|
67,063 |
|
|
(160,399 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities |
9,966 |
|
|
— |
|
|
67,063 |
|
|
(67,063 |
) |
|
9,966 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
(81,277 |
) |
|
273 |
|
|
— |
|
|
— |
|
|
(81,004 |
) |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
93,124 |
|
|
772 |
|
|
1 |
|
|
— |
|
|
93,897 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
$ |
11,847 |
|
|
$ |
1,045 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
12,893 |
|
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2012 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
$ |
195,734,000 |
|
|
$ |
3,425,000 |
|
|
$ |
(1,000 |
) |
|
$ |
— |
|
|
$ |
199,158,000 |
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used) in investing activities |
(838,177,000 |
) |
|
(2,402,000 |
) |
|
(103,915,000 |
) |
|
103,915,000 |
|
|
(840,579,000 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities |
714,612,000 |
|
|
— |
|
|
103,915,000 |
|
|
(103,915,000 |
) |
|
714,612,000 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
72,169,000 |
|
|
1,023,000 |
|
|
(1,000 |
) |
|
— |
|
|
73,191,000 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
93,124,000 |
|
|
772,000 |
|
|
1,000 |
|
|
— |
|
|
93,897,000 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
$ |
165,293,000 |
|
|
$ |
1,795,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
167,088,000 |
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2011 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
154,329,000 |
|
|
$ |
3,808,000 |
|
|
$ |
1,000 |
|
|
$ |
— |
|
|
$ |
158,138,000 |
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities |
(320,203,000 |
) |
|
(3,045,000 |
) |
|
(25,858,000 |
) |
|
25,858,000 |
|
|
(323,248,000 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities |
256,539,000 |
|
|
— |
|
|
25,858,000 |
|
|
(25,858,000 |
) |
|
256,539,000 |
|
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash equivalents |
90,665,000 |
|
|
763,000 |
|
|
1,000 |
|
|
— |
|
|
91,429,000 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
2,459,000 |
|
|
9,000 |
|
|
— |
|
|
— |
|
|
2,468,000 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
$ |
93,124,000 |
|
|
$ |
772,000 |
|
|
$ |
1,000 |
|
|
$ |
— |
|
|
$ |
93,897,000 |
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Amounts rounded to nearest thousand)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2010 |
|
Parent |
|
Guarantors |
|
Non-Guarantor |
|
Eliminations |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
$ |
81,651,000 |
|
|
$ |
4,184,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
85,835,000 |
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities |
(101,042,000 |
) |
|
(4,273,000 |
) |
|
(3,719,000 |
) |
|
3,719,000 |
|
|
(105,315,000 |
) |
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities |
20,224,000 |
|
|
— |
|
|
3,719,000 |
|
|
(3,719,000 |
) |
|
20,224,000 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
833,000 |
|
|
(89,000 |
) |
|
— |
|
|
— |
|
|
744,000 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
1,626,000 |
|
|
98,000 |
|
|
— |
|
|
— |
|
|
1,724,000 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
$ |
2,459,000 |
|
|
$ |
9,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,468,000 |
|
|