STATE OF NEVADA
|
001-03262
|
94-1667468
|
(State or other
jurisdiction incorporation)
|
(Commission File Number)
|
(I.R.S. Employer
Identification Number)
|
¨
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
¨
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
¨
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
¨
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Three Months Ended
March 31, 2012
|
Three Months Ended
June 30, 2012
|
Three Months Ended
September 30, 2012
|
Nine Months Ended
September 30, 2012
|
|||||||||||||||||||||||||||||
As
Restated
|
As
Reported
|
As
Restated
|
As
Reported
|
As
Restated
|
As
Reported
|
As
Restated
|
As
Reported
|
|||||||||||||||||||||||||
Oil and gas sales
|
$
|
111,689
|
$
|
110,335
|
$
|
100,736
|
$
|
104,690
|
$
|
112,895
|
$
|
117,129
|
$
|
325,320
|
$
|
332,154
|
||||||||||||||||
Realized gain (loss) from derivatives
|
$
|
(1,354
|
)
|
$
|
—
|
$
|
2,719
|
$
|
—
|
$
|
3,293
|
$
|
—
|
$
|
4,658
|
$
|
—
|
|||||||||||||||
Unrealized gain (loss) from derivatives
|
$
|
(10,187
|
)
|
$
|
—
|
$
|
34,797
|
$
|
—
|
$
|
(11,112
|
)
|
$
|
—
|
$
|
13,498
|
$
|
—
|
||||||||||||||
Net income (loss)
|
$
|
1,375
|
$
|
6,859
|
$
|
7,165
|
$
|
(10,304
|
)
|
$
|
(30,449
|
)
|
$
|
(25,988
|
)
|
$
|
(21,909
|
)
|
$
|
(29,433
|
)
|
|||||||||||
Net income (loss) per share:
|
||||||||||||||||||||||||||||||||
Basic
|
$
|
0.03
|
$
|
0.14
|
$
|
0.15
|
$
|
(0.22
|
)
|
$
|
(0.66
|
)
|
$
|
(0.56
|
)
|
$
|
(0.47
|
)
|
$
|
(0.63
|
)
|
|||||||||||
Diluted
|
$
|
0.03
|
$
|
0.14
|
$
|
0.15
|
$
|
(0.22
|
)
|
$
|
(0.66
|
)
|
$
|
(0.56
|
)
|
$
|
(0.47
|
)
|
$
|
(0.63
|
)
|
Exhibit 99.1
|
Press Release dated February 11, 2013.
|
COMSTOCK RESOURCES, INC.
|
||
Dated: February 11, 2013
|
By:
|
/s/ ROLAND O. BURNS
|
Roland O. Burns
|
||
Senior Vice President and Chief Financial Officer
|
5300 Town and Country Blvd., Suite 500
|
|
![]() |
Frisco, Texas 75034
|
Telephone: (972) 668-8800
|
|
Contact: Roland O. Burns
|
|
Sr. Vice President and Chief Financial Officer
|
|
Web Site: www.comstockresources.com
|
Three Months Ended
March 31, 2012
|
Three Months Ended
June 30, 2012
|
Three Months Ended
September 30, 2012
|
Nine Months Ended
September 30, 2012
|
|||||||||||||||||||||||||||||
As
Restated
|
As
Reported
|
As
Restated
|
As
Reported
|
As
Restated
|
As
Reported
|
As
Restated
|
As
Reported
|
|||||||||||||||||||||||||
Oil and gas sales
|
$
|
111,689
|
$
|
110,335
|
$
|
100,736
|
$
|
104,690
|
$
|
112,895
|
$
|
117,129
|
$
|
325,320
|
$
|
332,154
|
||||||||||||||||
Realized gain (loss) from derivatives
|
$
|
(1,354
|
)
|
$
|
—
|
$
|
2,719
|
$
|
—
|
$
|
3,293
|
$
|
—
|
$
|
4,658
|
$
|
—
|
|||||||||||||||
Unrealized gain (loss) from derivatives
|
$
|
(10,187
|
)
|
$
|
—
|
$
|
34,797
|
$
|
—
|
$
|
(11,112
|
)
|
$
|
—
|
$
|
13,498
|
$
|
—
|
||||||||||||||
Net income (loss)
|
$
|
1,375
|
$
|
6,859
|
$
|
7,165
|
$
|
(10,304
|
)
|
$
|
(30,449
|
)
|
$
|
(25,988
|
)
|
$
|
(21,909
|
)
|
$
|
(29,433
|
)
|
|||||||||||
Net income (loss) per share:
|
||||||||||||||||||||||||||||||||
Basic
|
$
|
0.03
|
$
|
0.14
|
$
|
0.15
|
$
|
(0.22
|
)
|
$
|
(0.66
|
)
|
$
|
(0.56
|
)
|
$
|
(0.47
|
)
|
$
|
(0.63
|
)
|
|||||||||||
Diluted
|
$
|
0.03
|
$
|
0.14
|
$
|
0.15
|
$
|
(0.22
|
)
|
$
|
(0.66
|
)
|
$
|
(0.56
|
)
|
$
|
(0.47
|
)
|
$
|
(0.63
|
)
|
Three Months Ended December 31,
|
Year Ended December 31,
|
|||||||||||||||
2012
|
2011
|
2012
|
2011
|
|||||||||||||
Oil and gas sales
|
$
|
106,603
|
$
|
114,456
|
$
|
431,923
|
$
|
434,367
|
||||||||
Gain on sale of oil and gas properties
|
—
|
—
|
24,271
|
—
|
||||||||||||
Total revenues
|
106,603
|
114,456
|
456,194
|
434,367
|
||||||||||||
Operating expenses:
|
||||||||||||||||
Production taxes
|
3,148
|
1,440
|
14,021
|
3,670
|
||||||||||||
Gathering and transportation
|
5,700
|
8,151
|
27,312
|
28,491
|
||||||||||||
Lease operating
|
16,420
|
10,040
|
60,620
|
46,552
|
||||||||||||
Exploration(a)
|
58,652
|
82
|
61,449
|
10,148
|
||||||||||||
Depreciation, depletion and amortization
|
96,876
|
78,244
|
365,286
|
290,776
|
||||||||||||
General and administrative
|
7,825
|
9,199
|
33,798
|
35,172
|
||||||||||||
Impairment of oil and gas properties
|
20,018
|
60,817
|
25,368
|
60,817
|
||||||||||||
Loss on sale of oil and gas properties
|
—
|
—
|
—
|
57
|
||||||||||||
Total operating expenses
|
208,639
|
167,973
|
587,854
|
475,683
|
||||||||||||
Operating loss
|
(102,036
|
)
|
(53,517
|
)
|
(131,660
|
)
|
(41,316
|
)
|
||||||||
Other income (expenses):
|
||||||||||||||||
Gain on sale of marketable securities
|
—
|
2,905
|
26,621
|
35,118
|
||||||||||||
Realized gain from derivatives
|
5,108
|
—
|
9,766
|
—
|
||||||||||||
Unrealized gain (loss) from derivatives
|
(2,008
|
)
|
—
|
11,490
|
—
|
|||||||||||
Other income
|
269
|
210
|
944
|
790
|
||||||||||||
Interest expense
|
(19,274
|
)
|
(12,006
|
)
|
(64,575
|
)
|
(42,688
|
)
|
||||||||
Total other income (expenses)
|
(15,905
|
)
|
(8,891
|
)
|
(15,754
|
)
|
(6,780
|
)
|
||||||||
Loss before income taxes
|
(117,941
|
)
|
(62,408
|
)
|
(147,414
|
)
|
(48,096
|
)
|
||||||||
Benefit from income taxes | 39,790 | 21,274 | 47,354 | 14,624 | ||||||||||||
Net loss
|
$
|
(78,151
|
)
|
$
|
(41,134
|
)
|
$
|
(100,060
|
)
|
$
|
(33,472
|
)
|
||||
Net loss per share:
|
||||||||||||||||
Basic
|
$
|
(1.68
|
)
|
$
|
(0.89
|
)
|
$
|
(2.16
|
)
|
$
|
(0.73
|
)
|
||||
Diluted
|
$
|
(1.68
|
)
|
$
|
(0.89
|
)
|
$
|
(2.16
|
)
|
$
|
(0.73
|
)
|
||||
Weighted average shares outstanding:
|
||||||||||||||||
Basic
|
46,446
|
46,011
|
46,422
|
45,997
|
||||||||||||
Diluted(b)
|
46,446
|
46,011
|
46,422
|
45,997
|
(a)
|
Includes impairments of unevaluated leases of $58.6 million and $61.3 million in the three months and year ended December 31, 2012, respectively.
|
(b)
|
Diluted shares outstanding is the same as basic due to the net loss in the periods.
|
Three Months Ended December 31,
|
Year Ended December 31,
|
|||||||||||||||
2012
|
2011
|
2012
|
2011
|
|||||||||||||
OPERATING CASH FLOW:
|
||||||||||||||||
Net loss
|
$
|
(78,151
|
)
|
$
|
(41,134
|
)
|
$
|
(100,060
|
)
|
$
|
(33,472
|
)
|
||||
Reconciling items:
|
||||||||||||||||
Deferred income taxes
|
(39,839
|
)
|
(21,245
|
)
|
(47,192
|
)
|
(14,652
|
)
|
||||||||
Depreciation, depletion and amortization
|
96,876
|
78,244
|
365,286
|
290,776
|
||||||||||||
Impairment of oil and gas properties
|
20,018
|
60,817
|
25,368
|
60,817
|
||||||||||||
Dry hole costs and leasehold impairments
|
58,615
|
—
|
61,300
|
9,819
|
||||||||||||
Loss (gain) on sale of assets
|
—
|
(2,905
|
)
|
(50,892
|
)
|
(35,061
|
)
|
|||||||||
Unrealized loss (gain) from derivatives
|
2,008
|
—
|
(11,490
|
)
|
—
|
|||||||||||
Debt issuance cost and discount amortization
|
1,588
|
949
|
5,277
|
4,300
|
||||||||||||
Stock-based compensation
|
3,539
|
4,074
|
13,728
|
15,032
|
||||||||||||
Operating cash flow
|
64,654
|
78,800
|
261,325
|
297,559
|
||||||||||||
Excess income taxes from stock-based compensation
|
20
|
—
|
1,701
|
612
|
||||||||||||
(Increase) decrease in accounts receivable
|
7,973
|
(4,088
|
)
|
11,975
|
(9,046
|
)
|
||||||||||
(Increase) decrease in other current assets
|
750
|
1,036
|
(4,309
|
)
|
3,311
|
|||||||||||
Decrease in accounts payable and accrued expenses
|
(36,866
|
)
|
(8,393
|
)
|
(8,463
|
)
|
(7,532
|
)
|
||||||||
Net cash provided by operating activities
|
$
|
36,531
|
$
|
67,355
|
$
|
262,229
|
$
|
284,904
|
||||||||
EBITDAX:
|
||||||||||||||||
Net loss
|
$
|
(78,151
|
)
|
$
|
(41,134
|
)
|
$
|
(100,060
|
)
|
$
|
(33,472
|
)
|
||||
Interest expense
|
19,274
|
12,006
|
64,575
|
42,688
|
||||||||||||
Benefit from income taxes
|
(39,790
|
)
|
(21,274
|
)
|
(47,354
|
)
|
(14,624
|
)
|
||||||||
Depreciation, depletion and amortization
|
96,876
|
78,244
|
365,286
|
290,776
|
||||||||||||
Exploration
|
58,652
|
82
|
61,449
|
10,148
|
||||||||||||
Impairment of oil and gas properties
|
20,018
|
60,817
|
25,368
|
60,817
|
||||||||||||
Gain on sale of assets
|
—
|
(2,905
|
)
|
(50,892
|
)
|
(35,061
|
)
|
|||||||||
Unrealized loss (gain) from derivatives
|
2,008
|
—
|
(11,490
|
)
|
—
|
|||||||||||
Stock-based compensation
|
3,539
|
4,074
|
13,728
|
15,032
|
||||||||||||
EBITDAX
|
$
|
82,426
|
$
|
89,910
|
$
|
320,610
|
$
|
336,304
|
As of December 31,
|
||||||||
2012
|
2011
|
|||||||
BALANCE SHEET DATA:
|
||||||||
Cash and cash equivalents
|
$
|
4,471
|
$
|
8,460
|
||||
Marketable securities
|
12,312
|
47,642
|
||||||
Derivative financial instruments
|
11,651
|
459
|
||||||
Other current assets
|
48,712
|
56,529
|
||||||
Property and equipment, net
|
2,470,053
|
2,509,845
|
||||||
Other
|
19,944
|
16,949
|
||||||
Total assets
|
$
|
2,567,143
|
$
|
2,639,884
|
||||
Accounts payable and accrued expenses
|
$
|
139,058
|
$
|
187,207
|
||||
Long-term debt
|
1,324,383
|
1,196,908
|
||||||
Deferred income taxes
|
149,901
|
201,705
|
||||||
Other non-current liabilities
|
20,267
|
16,439
|
||||||
Stockholders' equity
|
933,534
|
1,037,625
|
||||||
Total liabilities and stockholders' equity
|
$
|
2,567,143
|
$
|
2,639,884
|
For the Three Months Ended December 31, 2012
|
For the Three Months Ended December 31, 2011
|
|||||||||||||||||||||||||||||||||||||||
East Texas/
North
Louisiana
|
South
Texas
|
West
Texas
|
Other
|
Total
|
East Texas/
North
Louisiana
|
South
Texas
|
West
Texas
|
Other
|
Total
|
|||||||||||||||||||||||||||||||
Oil production (Mbbls)
|
12
|
394
|
148
|
7
|
561
|
28
|
312
|
6
|
346
|
|||||||||||||||||||||||||||||||
Gas production (MMcf)
|
15,340
|
1,833
|
254
|
496
|
17,923
|
20,177
|
2,659
|
595
|
23,431
|
|||||||||||||||||||||||||||||||
Total production (MMcfe)
|
15,412
|
4,198
|
1,144
|
536
|
21,290
|
20,348
|
4,537
|
624
|
25,509
|
|||||||||||||||||||||||||||||||
Oil sales
|
$
|
1,042
|
$
|
38,869
|
$
|
11,390
|
$
|
583
|
$
|
51,884
|
$
|
2,614
|
$
|
31,638
|
$
|
453
|
$
|
34,705
|
||||||||||||||||||||||
Hedging gains(a)
|
—
|
3,830
|
1,278
|
—
|
5,108
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||||||||
Total oil, including hedging
|
1,042
|
42,699
|
12,668
|
583
|
56,992
|
2,614
|
31,638
|
453
|
34,705
|
|||||||||||||||||||||||||||||||
Natural gas sales
|
44,816
|
6,451
|
1,641
|
1,811
|
54,719
|
65,959
|
11,331
|
2,461
|
79,751
|
|||||||||||||||||||||||||||||||
Total oil and gas sales and realized gain from derivatives
|
$
|
45,858
|
$
|
49,150
|
$
|
14,309
|
$
|
2,394
|
$
|
111,711
|
$
|
68,573
|
$
|
42,969
|
$
|
2,914
|
$
|
114,456
|
||||||||||||||||||||||
Average oil price (per barrel)
|
$
|
86.72
|
$
|
98.61
|
$
|
76.87
|
$
|
85.94
|
$
|
92.46
|
$
|
92.25
|
$
|
101.10
|
$
|
88.26
|
$
|
100.18
|
||||||||||||||||||||||
Average oil price including hedging (per barrel)
|
$
|
86.72
|
$
|
108.33
|
$
|
85.49
|
$
|
85.94
|
$
|
101.56
|
$
|
92.25
|
$
|
101.10
|
$
|
88.26
|
$
|
100.18
|
||||||||||||||||||||||
Average gas price (per Mcf)
|
$
|
2.92
|
$
|
3.52
|
$
|
6.46
|
$
|
3.65
|
$
|
3.05
|
$
|
3.27
|
$
|
4.26
|
$
|
4.14
|
$
|
3.40
|
||||||||||||||||||||||
Average price (per Mcfe)
|
$
|
2.98
|
$
|
10.79
|
$
|
11.39
|
$
|
4.47
|
$
|
5.01
|
$
|
3.37
|
$
|
9.47
|
$
|
4.67
|
$
|
4.49
|
||||||||||||||||||||||
Average price including hedging (per Mcfe)
|
$
|
2.98
|
$
|
11.71
|
$
|
12.51
|
$
|
4.47
|
$
|
5.25
|
$
|
3.37
|
$
|
9.47
|
$
|
4.67
|
$
|
4.49
|
||||||||||||||||||||||
Production taxes
|
$
|
407
|
$
|
1,992
|
$
|
627
|
$
|
122
|
$
|
3,148
|
$
|
(949
|
)
|
$
|
2,228
|
$
|
161
|
$
|
1,440
|
|||||||||||||||||||||
Gathering and transportation
|
$
|
4,692
|
$
|
473
|
$
|
289
|
$
|
246
|
$
|
5,700
|
$
|
7,741
|
$
|
294
|
$
|
116
|
$
|
8,151
|
||||||||||||||||||||||
Lease operating
|
$
|
6,130
|
$
|
5,618
|
$
|
3,785
|
$
|
887
|
$
|
16,420
|
$
|
7,236
|
$
|
1,992
|
$
|
812
|
$
|
10,040
|
||||||||||||||||||||||
Production taxes (per Mcfe)
|
$
|
0.03
|
$
|
0.47
|
$
|
0.55
|
$
|
0.23
|
$
|
0.15
|
$
|
(0.05
|
)
|
$
|
0.49
|
$
|
0.26
|
$
|
0.06
|
|||||||||||||||||||||
Gathering and transportation (per Mcfe)
|
$
|
0.30
|
$
|
0.11
|
$
|
0.25
|
$
|
0.46
|
$
|
0.27
|
$
|
0.38
|
$
|
0.06
|
$
|
0.19
|
$
|
0.32
|
||||||||||||||||||||||
Lease operating (per Mcfe)
|
$
|
0.40
|
$
|
1.35
|
$
|
3.31
|
$
|
1.65
|
$
|
0.77
|
$
|
0.36
|
$
|
0.44
|
$
|
1.30
|
$
|
0.39
|
||||||||||||||||||||||
Oil and Gas Capital Expenditures:
|
||||||||||||||||||||||||||||||||||||||||
Acquisitions
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
16,879
|
$
|
—
|
$
|
201,782
|
$
|
—
|
$
|
218,661
|
||||||||||||||||||||
Exploratory leasehold
|
2,136
|
1,456
|
3,786
|
—
|
7,378
|
12,064
|
43,860
|
147,532
|
—
|
203,456
|
||||||||||||||||||||||||||||||
Development leasehold
|
218
|
58
|
—
|
—
|
276
|
420
|
—
|
—
|
—
|
420
|
||||||||||||||||||||||||||||||
Exploratory drilling
|
217
|
1,299
|
—
|
—
|
1,516
|
2,290
|
2,131
|
—
|
—
|
4,421
|
||||||||||||||||||||||||||||||
Development drilling
|
(59
|
)
|
39,852
|
45,188
|
—
|
84,981
|
46,713
|
76,726
|
—
|
160
|
123,599
|
|||||||||||||||||||||||||||||
Other development
|
488
|
583
|
209
|
21
|
1,301
|
532
|
345
|
—
|
92
|
969
|
||||||||||||||||||||||||||||||
Total
|
$
|
3,000
|
$
|
43,248
|
(b)
|
$
|
49,183
|
$
|
21
|
$
|
95,452
|
(b)
|
$
|
78,898
|
$
|
123,062
|
$
|
349,314
|
$
|
252
|
$
|
551,526
|
(a)
|
Reported as realized gain from derivatives in operating results.
|
(b)
|
Net of reimbursements received of $8,685 under the Company's Eagle Ford shale joint venture.
|
For the Year Ended December 31, 2012
|
For the Year Ended December 31, 2011
|
|||||||||||||||||||||||||||||||||||||||
East Texas/
North
Louisiana
|
South
Texas
|
West
Texas
|
Other
|
Total
|
East Texas/
North
Louisiana
|
South
Texas
|
West
Texas
|
Other
|
Total
|
|||||||||||||||||||||||||||||||
Oil production (Mbbls)
|
81
|
1,679
|
517
|
32
|
2,309
|
117
|
697
|
24
|
838
|
|||||||||||||||||||||||||||||||
Gas production (MMcf)
|
71,085
|
8,640
|
728
|
2,037
|
82,490
|
76,883
|
11,153
|
2,557
|
90,593
|
|||||||||||||||||||||||||||||||
Total production (MMcfe)
|
71,574
|
18,712
|
3,830
|
2,229
|
96,345
|
77,585
|
15,338
|
2,699
|
95,622
|
|||||||||||||||||||||||||||||||
Oil sales
|
$
|
7,756
|
$
|
170,242
|
$
|
42,701
|
$
|
3,165
|
$
|
223,864
|
$
|
10,614
|
$
|
67,523
|
$
|
2,107
|
$
|
80,244
|
||||||||||||||||||||||
Hedging gains(a)
|
—
|
7,422
|
2,344
|
—
|
9,766
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||||||||||||
Total oil, including hedging
|
7,756
|
177,664
|
45,045
|
3,165
|
233,630
|
10,614
|
67,523
|
2,107
|
80,244
|
|||||||||||||||||||||||||||||||
Natural gas sales
|
170,254
|
26,923
|
4,408
|
6,474
|
208,059
|
290,028
|
51,789
|
12,306
|
354,123
|
|||||||||||||||||||||||||||||||
Total oil and gas sales and realized gain from derivatives
|
$
|
178,010
|
$
|
204,587
|
$
|
49,453
|
$
|
9,639
|
$
|
441,689
|
$
|
300,642
|
$
|
119,312
|
$
|
14,413
|
$
|
434,367
|
||||||||||||||||||||||
Average oil price (per barrel)
|
$
|
95.27
|
$
|
101.41
|
$
|
82.60
|
$
|
98.66
|
$
|
96.95
|
$
|
90.74
|
$
|
96.81
|
$
|
88.63
|
$
|
95.73
|
||||||||||||||||||||||
Average oil price including hedging (per barrel)
|
$
|
95.27
|
$
|
105.83
|
$
|
87.14
|
$
|
98.66
|
$
|
101.18
|
$
|
90.74
|
$
|
96.81
|
$
|
88.63
|
$
|
95.73
|
||||||||||||||||||||||
Average gas price (per Mcf)
|
$
|
2.40
|
$
|
3.12
|
$
|
6.05
|
$
|
3.18
|
$
|
2.52
|
$
|
3.77
|
$
|
4.64
|
$
|
4.81
|
$
|
3.91
|
||||||||||||||||||||||
Average price (per Mcfe)
|
$
|
2.49
|
$
|
10.54
|
$
|
12.30
|
$
|
4.32
|
$
|
4.48
|
$
|
3.87
|
$
|
7.78
|
$
|
5.34
|
$
|
4.54
|
||||||||||||||||||||||
Average price including hedging (per Mcfe)
|
$
|
2.49
|
$
|
10.93
|
$
|
12.91
|
$
|
4.32
|
$
|
4.48
|
$
|
3.87
|
$
|
7.78
|
$
|
5.34
|
$
|
4.54
|
||||||||||||||||||||||
Production taxes
|
$
|
2,513
|
$
|
8,518
|
$
|
2,294
|
$
|
696
|
$
|
14,021
|
$
|
(1,958
|
)
|
$
|
4,881
|
$
|
747
|
$
|
3,670
|
|||||||||||||||||||||
Gathering and transportation
|
$
|
23,272
|
$
|
2,412
|
$
|
1,047
|
$
|
581
|
$
|
27,312
|
$
|
26,581
|
$
|
1,476
|
$
|
434
|
$
|
28,491
|
||||||||||||||||||||||
Lease operating
|
$
|
31,109
|
$
|
16,130
|
$
|
9,372
|
$
|
4,009
|
$
|
60,620
|
$
|
30,419
|
$
|
12,443
|
$
|
3,690
|
$
|
46,552
|
||||||||||||||||||||||
Production taxes (per Mcfe)
|
$
|
0.04
|
$
|
0.46
|
$
|
0.60
|
$
|
0.31
|
$
|
0.15
|
$
|
(0.03
|
)
|
$
|
0.32
|
$
|
0.28
|
$
|
0.04
|
|||||||||||||||||||||
Gathering and transportation (per Mcfe)
|
$
|
0.33
|
$
|
0.13
|
$
|
0.27
|
$
|
0.26
|
$
|
0.28
|
$
|
0.34
|
$
|
0.10
|
$
|
0.16
|
$
|
0.30
|
||||||||||||||||||||||
Lease operating (per Mcfe)
|
$
|
0.42
|
$
|
0.86
|
$
|
2.45
|
$
|
1.80
|
$
|
0.63
|
$
|
0.40
|
$
|
0.81
|
$
|
1.37
|
$
|
0.48
|
||||||||||||||||||||||
Oil and Gas Capital Expenditures:
|
||||||||||||||||||||||||||||||||||||||||
Acquisitions
|
$
|
—
|
$
|
—
|
$
|
3,235
|
$
|
—
|
$
|
3,235
|
$
|
16,879
|
$
|
—
|
$
|
201,782
|
$
|
—
|
$
|
218,661
|
||||||||||||||||||||
Exploratory leasehold
|
7,400
|
6,342
|
15,935
|
—
|
29,677
|
37,682
|
66,263
|
151,754
|
—
|
255,699
|
||||||||||||||||||||||||||||||
Development leasehold
|
767
|
1,390
|
—
|
—
|
2,157
|
695
|
103
|
—
|
—
|
798
|
||||||||||||||||||||||||||||||
Exploratory drilling
|
1,193
|
4,124
|
—
|
—
|
5,317
|
33,381
|
48,647
|
—
|
—
|
82,028
|
||||||||||||||||||||||||||||||
Development drilling
|
99,903
|
197,421
|
183,354
|
—
|
480,678
|
330,090
|
152,036
|
—
|
1,690
|
483,816
|
||||||||||||||||||||||||||||||
Other development
|
1,729
|
1,243
|
540
|
216
|
3,728
|
4,089
|
1,966
|
—
|
461
|
6,516
|
||||||||||||||||||||||||||||||
Total
|
$
|
110,992
|
$
|
210,520
|
(b)
|
$
|
203,064
|
$
|
216
|
$
|
524,792
|
(b)
|
$
|
422,816
|
$
|
269,015
|
$
|
353,536
|
$
|
2,151
|
$
|
1,047,518
|
(a)
|
Reported as realized gain from derivatives in the operating results.
|
(b)
|
Net of reimbursements received of $32,489 under the Company's Eagle Ford shale joint venture.
|