Gain (Loss) On Disposition Of Assets, Net

6 Months Ended

Jun. 30, 2011

Gain (Loss) On Disposition Of Assets, Net

Gain (Loss) On Disposition Of Assets, Net

NOTE N. Gain (Loss) on Disposition of Assets, Net

For the three and six months ended June 30, 2011, the Company recorded $296 thousand and $2.5 million of net losses on disposition of assets from continuing operations, respectively, as compared to $7.6 million and $24.6 million, respectively, of net gains from continuing operations for the three and six months ended June 30, 2010.

The Company's net losses during the three and six months ended June 30, 2011 are primarily associated with sales of excess materials and supplies inventory. During the three and six months ended June 30, 2010, the Company's net gains are primarily attributable to the Company's Eagle Ford Shale joint venture transaction that was completed during June 2010, and the sale of proved and unproved oil and gas properties in the Uinta/Piceance area.

See Note Q for information about the Company's gains and losses during the three and six months ended June 30, 2011 from the sale of its Tunisia subsidiaries that are included in discontinued operations.