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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues        
Oil and natural gas revenues $ 38,008 $ 17,447 $ 103,250 $ 52,009
Realized gain on derivatives 3,371 1,435 11,147 4,237
Unrealized (loss) gain on derivatives (12,993) 2,870 (1,149) 1,534
Total revenues 28,386 21,752 113,248 57,780
Expenses        
Production taxes and marketing 2,822 1,848 7,605 4,801
Lease operating 6,491 2,065 17,511 5,639
Depletion, depreciation and amortization 21,680 7,288 52,799 22,578
Accretion of asset retirement obligations 59 61 170 158
Full-cost ceiling impairment 3,596    36,801 35,673
General and administrative 3,439 4,207 11,321 9,919
Total expenses 38,087 15,469 126,207 78,768
Operating (loss) income (9,701) 6,283 (12,959) (20,988)
Other income (expense)        
Net loss on asset sales and inventory impairment       (60)   
Interest expense (144) (171) (453) (461)
Interest and other income 55 82 157 248
Total other expense (89) (89) (356) (213)
(Loss) income before income taxes (9,790) 6,194 (13,315) (21,201)
Income tax provision (benefit)        
Current 188    188 (46)
Deferred (781)    (1,430) (6,906)
Total income tax benefit (593)    1,242 (6,952)
Net (loss) income $ (9,197) $ 6,194 $ (12,073) $ (14,249)
Basic        
Basic 55,271 42,751 53,519 42,702
Diluted        
Diluted 55,271 42,879 53,519 42,702
Class A
       
Basic        
Basic $ (0.17) $ 0.14 $ (0.23) $ (0.34)
Diluted        
Diluted $ (0.17) $ 0.14 $ (0.23) $ (0.34)
Basic        
Basic 55,271 41,720 53,379 41,671
Diluted        
Diluted 55,271 41,848 53,379 41,671
Class B
       
Basic        
Basic    $ 0.21 $ (0.03) $ (0.14)
Diluted        
Diluted    $ 0.21 $ (0.03) $ (0.14)
Basic        
Basic    1,031 140 1,031
Diluted        
Diluted    1,031 140 1,031