Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Oil and condensate sales $ 58,196 $ 52,972 $ 199,651 $ 167,051
Gas sales 85,168 10,755 139,039 19,014
Natural gas liquid sales 27,021 5,100 64,054 7,828
Other income 419 425 825 793
Total revenues 170,804 69,252 403,569 194,686
Costs and expenses:        
Lease operating expenses 11,883 7,297 36,192 18,347
Production taxes 5,213 7,071 18,771 20,381
Midstream processing and marketing 18,714 3,622 37,263 5,940
Depreciation, depletion and amortization 72,409 30,691 185,280 81,814
General and administrative 8,939 5,259 28,832 14,571
Accretion expense 192 180 569 529
(Gain) loss on sale of assets 0 (5) (11) 567
Total costs and expenses 117,350 54,115 306,896 142,149
INCOME FROM OPERATIONS 53,454 15,137 96,673 52,537
OTHER (INCOME) EXPENSE:        
Interest expense 5,706 2,602 11,993 9,365
Interest income (25) (70) (167) (211)
Litigation settlement 1,500 0 25,500 0
Loss (income) from equity method investments 34,477 (51,322) (163,567) (162,640)
Total Other (Income) Expense 41,658 (48,790) (126,241) (153,486)
INCOME BEFORE INCOME TAXES 11,796 63,927 222,914 206,023
INCOME TAX EXPENSE 4,876 23,400 85,584 77,109
NET INCOME $ 6,920 $ 40,527 $ 137,330 $ 128,914
NET INCOME PER COMMON SHARE:        
Basic net income per share (in usd per share) $ 0.08 $ 0.52 $ 1.61 $ 1.70
Diluted net income per share (in usd per share) $ 0.08 $ 0.52 $ 1.60 $ 1.69
Weighted average common shares outstanding - Basic (shares) 85,506,095 77,554,386 85,405,630 75,955,040
Weighted average common shares outstanding-Diluted (shares) 85,907,307 77,931,738 85,790,433 76,374,107