Supplementary Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Supplementary Quarterly Financial Data (Unaudited)

	2011
	First			Second			Third			Fourth			Total
	(In thousands, except per share data)
Total oil and gas sales	$	88,038		$	112,451		$	119,422		$	114,456		$	434,367
Income (loss) from operations	$	(8,263	)	$	8,378		$	12,086		$	(53,517	)	$	(41,316	)
Net income (loss)	$	2,404		$	3,949		$	1,309		$	(41,134	)	$	(33,472	)
Net income (loss) per share:
Basic	$	0.05		$	0.08		$	0.03		$	(0.89	)	$	(0.73	)
Diluted	$	0.05		$	0.08		$	0.03		$	(0.89	)	$	(0.73	)
	2012
	First			Second			Third			Fourth			Total
	(In thousands, except per share data)
	(As Restated)			(As Restated)			(As Restated)
Total oil and gas sales	$	111,689		$	100,736		$	112,895		$	106,603		$	431,923
Income (loss) from operations	$	2,841		$	(8,046	)	$	(24,419	)	$	(102,036	)	$	(131,660	)
Net income (loss)	$	1,375		$	7,165		$	(30,449	)	$	(78,151	)	$	(100,060	)
Net income (loss) per share:
Basic	$	0.03		$	0.15		$	(0.66	)	$	(1.68	)	$	(2.16	)
Diluted	$	0.03		$	0.15		$	(0.66	)	$	(1.68	)	$	(2.16	)

Summary of Results of Operations from Non-Routine Items

Results of operations include the following non-routine items of income (expense), which are presented before the effect of income taxes:  

	2011
	First			Second			Third			Fourth			Total
	(In thousands, except per share data)
Gain on sales of marketable securities	$	21,249		$	8,480		$	2,484		$	2,905		$	35,118
Impairments of unproved oil and gas properties	$	(9,454	)	$	—		$	(364	)	$	—		$	(9,818	)
Impairments of proved oil and gas properties	$	—		$	—		$	—		$	(60,817	)	$	(60,817	)
	2012
	First			Second			Third			Fourth			Total
	(In thousands, except per share data)
Gain on sale of oil and gas properties	$	6,727		$	20,338		$	(2,794	)	$	—		$	24,271
Gain on sales of marketable securities	$	26,621		$	—		$	—		$	—		$	26,621
Impairments of unproved oil and gas properties	$	(1,315	)	$	—		$	(1,370	)	$	(58,615	)	$	(61,300	)
Impairments of proved oil and gas properties	$	(49	)	$	(5,301	)	$	—		$	(20,018	)	$	(25,368	)

Condensed Consolidated Balance Sheets

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited) 

	Three Months Ended March  31, 2012							Six Months Ended June 30, 2012							Nine Months  Ended September 30, 2012
	As Reported		Adjustments			As Restated		As Reported		Adjustments			As Restated		As Reported		Adjustments			As Restated
	(In thousands)
ASSETS
Cash and Cash Equivalents	$	3,750	$	—		$	3,750	$	3,505	$	—		$	3,505	$	2,569	$	—		$	2,569
Restricted Cash		9,549		—			9,549		—		—			—		—		—			—
Accounts Receivable		51,918		—			51,918		42,122		(1,235	)		40,887		51,907		(2,176	)		49,731
Marketable Securities		17,154		—			17,154		15,204		—			15,204		15,072		—			15,072
Assets Held for Sale		91,520		—			91,520		—		—			—		—		—			—
Derivative Financial Instruments		—		—			—		18,536		—			18,536		10,823		—			10,823
Other Current Assets		2,908		—			2,908		6,695		—			6,695		7,658		—			7,658
Total Current Assets		176,799		—			176,799		86,062		(1,235	)		84,827		88,029		(2,176	)		85,853
Net Property and Equipment		2,517,672		—			2,517,672		2,547,219		—			2,547,219		2,546,024		—			2,546,024
Derivative Financial Instruments		—		—			—		6,235		—			6,235		2,836		—			2,836
Other Assets		16,201		—			16,201		21,796		—			21,796		20,950		—			20,950
	$	2,710,672	$	—		$	2,710,672	$	2,661,312	$	(1,235	)	$	2,660,077	$	2,657,839	$	(2,176	)	$	2,655,663
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities	$	250,060	$	—		$	250,060	$	176,726		—		$	176,726		200,086	$	—		$	200,086
Long-term Debt		1,207,042		—			1,207,042		1,223,235		—			1,223,235		1,238,809		—			1,238,809
Deferred Income Taxes Payable		208,078		(863	)		207,215		203,530		2,881			206,411		190,784		(822	)		189,962
Reserve for Future Abandonment Costs		13,536		—			13,536		14,191		—			14,191		14,545		—			14,545
Derivative Financial Instruments		2,205		—			2,205		—		—			—		—		—			—
Other Non-Current Liabilities		2,394		—			2,394		2,337		—			2,337		2,301		—			2,301
Total Liabilities		1,683,315		(863	)		1,682,452		1,620,019		2,881			1,622,900		1,646,525		(822	)		1,645,703
Commitments and Contingencies
Stockholders’ Equity:
Common stock		24,058		—			24,058		24,081		—			24,081		24,081		—			24,081
Additional Paid-in Capital		470,844		—			470,844		473,881		—			473,881		477,199		—			477,199
Retained Earnings		531,236		(5,484	)		525,752		520,932		11,985			532,917		494,944		7,524			502,468
Accumulated Other Comprehensive Income		1,219		6,347			7,566		22,399		(16,101	)		6,298		15,090		(8,878	)		6,212
Total Stockholders’ Equity		1,027,357		863			1,028,220		1,041,293		(4,116	)		1,037,177		1,011,314		(1,354	)		1,009,960
	$	2,710,672	$	—		$	2,710,672	$	2,661,312	$	(1,235	)	$	2,660,077	$	2,657,839	$	(2,176	)	$	2,655,663

Consolidated Statements Of Operations

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited) 

	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 Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated
	(In thousands, except per share amounts)
Oil and gas sales	$	110,335		$	1,354		$	111,689		$	104,690		$	(3,954	)	$	100,736		$	117,129		$	(4,234	)	$	112,895		$	332,154		$	(6,834	)	$	325,320
Gain on sale of oil and gas properties		6,727			—			6,727			20,338			—			20,338			(2,794	)		—			(2,794	)		24,271			—			24,271
Total Revenues		117,062			1,354			118,416			125,028			(3,954	)		121,074			114,335			(4,234	)		110,101			356,425			(6,834	)		349,591
Total operating expenses		115,575			—			115,575			129,120			—			129,120			134,520			—			134,520			379,215			—			379,215
Operating income (loss)		1,487			1,354			2,841			(4,092	)		(3,954	)		(8,046	)		(20,185	)		(4,234	)		(24,419	)		(22,790	)		(6,834	)		(29,624	)
Other income (expenses):
Gain on sale of marketable securities		26,621			—			26,621			—			—			—			—			—			—			26,621			—			26,621
Realized gain (loss) from derivatives		—			(1,354	)		(1,354	)		—			2,719			2,719			—			3,293			3,293			—			4,658			4,658
Unrealized gain (loss) from derivatives		—			(10,187	)		(10,187	)		—			34,797			34,797			—			(11,112	)		(11,112	)		—			13,498			13,498
Other income		(23	)		262			239			545			(262	)		283			153			—			153			675			—			675
Interest expense		(13,237	)		—			(13,237	)		(14,529	)		—			(14,529	)		(17,535	)		—			(17,535	)		(45,301	)		—			(45,301	)
Total other income (expenses)		13,361			(11,279	)		2,082			(13,984	)		37,254			23,270			(17,382	)		(7,819	)		(25,201	)		(18,005	)		18,156			151
Income (loss) before income taxes		14,848			(9,925	)		4,923			(18,076	)		33,300			15,224			(37,567	)		(12,053	)		(49,620	)		(40,795	)		11,322			(29,473	)
Benefit from (provision for) income taxes		(7,989	)		4,441			(3,548	)		7,772			(15,831	)		(8,059	)		11,579			7,592			19,171			11,362			(3,798	)		7,564
Net income (loss)	$	6,859		$	(5,484	)	$	1,375		$	(10,304	)	$	17,469		$	7,165		$	(25,988	)	$	(4,461	)	$	(30,449	)	$	(29,433	)	$	7,524		$	(21,909	)
Net income (loss) per share:
Basic	$	0.14		$	(0.11	)	$	0.03		$	(0.22	)	$	0.37		$	0.15		$	(0.56	)	$	(0.10	)	$	(0.66	)	$	(0.63	)	$	0.16		$	(0.47	)
Diluted	$	0.14		$	(0.11	)	$	0.03		$	(0.22	)	$	0.37		$	0.15		$	(0.56	)	$	(0.10	)	$	(0.66	)	$	(0.63	)	$	0.16		$	(0.47	)
Weighted average shares outstanding:
Basic		46,372			—			46,372			46,426			—			46,426			46,443			—			46,443			46,414			—			46,414
Diluted		46,372			—			46,372			46,426			—			46,426			46,443			—			46,443			46,414			—			46,414

Consolidated Statements Of Comprehensive Income (Loss)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)

	Three Months Ended March 31, 2012									Three Months Ended June 30, 2012
	As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated
	(In thousands, except per share amounts)
Net loss	$	6,859		$	(5,484	)	$	1,375		$	(10,304	)	$	17,469		$	7,165
Reclassified to earnings, net of provision for (benefit from) income taxes of $—, $161, $161, and $—, $—, $—		—			(298	)		(298	)		—			—			—
Unrealized hedging gains, net of provision for (benefit from) income taxes of $3,578, ($3,578), $— and ($12,087), $12,087, $—		(6,645	)		6,645			—			22,448			(22,448	)		—
Net change in unrealized gains and losses on marketable securities, net of benefit from (provision for) income taxes of $6,793, $—, $6,793, and $682, $—, $682		(12,612	)		—			(12,612	)		(1,268	)		—			(1,268	)
Other comprehensive income (loss)		(19,257	)		6,347			(12,910	)		21,180			(22,448	)		(1,268	)
Comprehensive income (loss)	$	(12,398	)	$	863		$	(11,535	)	$	10,876		$	(4,979	)	$	5,897

	Three Months Ended September 30, 2012									Nine Months Ended September 30, 2012
	As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated
	(In thousands, except per share amounts)
Net loss	$	(25,988	)	$	(4,461	)	$	(30,449	)	$	(29,433	)	$	7,524		$	(21,909	)
Reclassified to earnings, net of provision for (benefit from) income taxes of $—,$—, $— and $—, $161, $161		—			—			—			—			(298	)		(298	)
Unrealized hedging gains, net of provision for (benefit from) income taxes of $3,889, ($3,889), $— and ($4,620), $4,620, $—		(7,223	)		7,223			—			8,580			(8,580	)		—
Net change in unrealized gains and losses on marketable securities, net of benefit from (provision for) income taxes of $46, $—, $46 and $7,520, $—,$7,520		(86	)		—			(86	)		(13,966	)		—			(13,966	)
Other comprehensive income (loss)		(7,309	)		7,223			(86	)		(5,386	)		(8,878	)		(14,264	)
Comprehensive income (loss)	$	(33,297	)	$	2,762		$	(30,535	)	$	(34,819	)	$	(1,354	)	$	(36,173	)

Consolidated Statement Of Stockholders' Equity

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

(Unaudited) 

	Common Shares		Common Stock-Par Value		Additional Paid-in Capital			Retained Earnings			Accumulated Other Comprehensive Income			Total
	(In thousands)
Balance at December 31, 2011		48,125	$	24,063	$	468,709		$	524,377		$	20,476		$	1,037,625
Stock-based compensation		37		18		10,171			—			—			10,189
Excess income taxes from stock-based compensation		—		—		(1,681	)		—			—			(1,681	)
Net loss – as restated		—		—		—			(21,909	)		—			(21,909	)
Other comprehensive loss – as restated		—		—		—			—			(14,264	)		(14,264	)
Balance at September 30, 2012 – as restated		48,162	$	24,081	$	477,199		$	502,468		$	6,212		$	1,009,960

Consolidated Statements Of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited) 

	Three Months Ended March  31, 2012									Six Months Ended June  30, 2012									Nine Months  Ended September 30, 2012
	As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated
	(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income ( loss)	$	6,859		$	(5,484	)	$	1,375		$	(3,445	)	$	11,985		$	8,540		$	(29,433	)	$	7,524		$	(21,909	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Gain on sale of assets		(33,348	)		—			(33,348	)		(53,686	)		—			(53,686	)		(50,892	)		—			(50,892	)
Deferred income taxes		8,072			(4,441	)		3,631			416			11,390			11,806			(11,151	)		3,798			(7,353	)
Dry hole costs and leasehold impairments		1,315			—			1,315			1,315			—			1,315			2,685			—			2,685
Impairment of oil and gas properties		49			—			49			5,350			—			5,350			5,350			—			5,350
Depreciation, depletion and amortization		79,097			—			79,097			169,180			—			169,180			268,410			—			268,410
Unrealized gains from derivatives		262			9,925			10,187			—			(24,610	)		(24,610	)		—			(13,498	)		(13,498	)
Debt issuance cost and discount amortization		944			—			944			2,103			—			2,103			3,689			—			3,689
Stock-based compensation		3,535			—			3,535			6,860			—			6,860			10,189			—			10,189
Excess income taxes from stock-based compensation		1,405			—			1,405			1,670			—			1,670			1,681			—			1,681
Decrease in accounts receivable		1,815			—			1,815			11,611			1,235			12,846			1,826			2,176			4,002
Increase in other current assets		(199	)		—			(199	)		(4,097	)		—			(4,097	)		(5,059	)		—			(5,059	)
Increase in accounts payable and accrued expenses		63,374			—			63,374			4,621			—			4,621			28,403			—			28,403
Net cash provided by operating activities		133,180			—			133,180			141,898			—			141,898			225,698			—			225,698
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash used for investing activities		(146,423	)		—			(146,423	)		(164,560	)		—			(164,560	)		(264,119	)		—			(264,119	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net cash provided by financing activities		8,533			—			8,533			17,707			—			17,707			32,530			—			32,530
Net decrease in cash and cash equivalents		(4,710	)		—			(4,710	)		(4,955	)		—			(4,955	)		(5,891	)		—			(5,891	)
Cash and cash equivalents, beginning of the year		8,460			—			8,460			8,460			—			8,460			8,460			—			8,460
Cash and cash equivalents, end of the year	$	3,750		$	—		$	3,750		$	3,505		$	—		$	3,505		$	2,569		$	—		$	2,569