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Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Net Operating Revenues        
Crude Oil and Condensate $ 1,376,250 $ 938,518 $ 2,686,585 $ 1,695,880
Natural Gas Liquids 150,023 183,805 348,333 332,532
Natural Gas 359,421 599,993 726,705 1,183,912
Gains on Mark-to-Market Commodity Derivative Contracts 188,449 189,621 322,657 122,875
Gathering, Processing and Marketing 710,748 487,698 1,428,905 883,281
Gains on Asset Dispositions, Net 113,290 163,771 180,758 235,513
Other, Net 11,138 6,844 22,027 13,363
Total 2,909,319 2,570,250 5,715,970 4,467,356
Operating Expenses        
Lease and Well 250,756 216,695 512,251 431,784
Transportation Costs 135,393 101,965 267,235 199,598
Gathering and Processing Costs 20,588 17,716 46,180 36,912
Exploration Costs 48,149 41,238 90,956 92,147
Dry Hole Costs 11,081 1,676 11,081 24,627
Impairments 54,217 358,654 187,364 447,982
Marketing Costs 694,118 469,437 1,399,586 854,846
Depreciation, Depletion and Amortization 808,765 602,944 1,557,508 1,171,170
General and Administrative 75,727 67,406 151,996 137,443
Taxes Other Than Income 118,186 104,266 239,702 210,143
Total 2,216,980 1,981,997 4,463,859 3,606,652
Operating Income 692,339 588,253 1,252,111 860,704
Other Income, Net 4,675 6,224 15,306 9,828
Income Before Interest Expense and Income Taxes 697,014 594,477 1,267,417 870,532
Interest Expense, Net 50,775 51,253 101,044 101,586
Income Before Income Taxes 646,239 543,224 1,166,373 768,946
Income Tax Provision 250,461 247,650 446,586 339,399
Net Income 395,778 295,574 719,787 429,547
Net Income Per Share        
Basic $ 1.48 $ 1.11 $ 2.70 $ 1.65
Diluted $ 1.47 $ 1.10 $ 2.67 $ 1.63
Dividends Declared per Common Share $ 0.17 $ 0.16 $ 0.34 $ 0.32
Average Number of Common Shares        
Basic 266,874 265,830 266,718 259,766
Diluted 269,985 269,332 270,083 263,363
Comprehensive Income        
Net Income 395,778 295,574 719,787 429,547
Other Comprehensive Income (Loss)        
Foreign Currency Translation Adjustments (28,689) 11,673 (2,164) 55,515
Foreign Currency Swap (1,431) (843) 630 (184)
Income Tax Related to Foreign Currency Swap 576 216 49 52
Interest Rate Swap 231 (5,713) (364) (4,109)
Income Tax Related to Interest Rate Swap (83) 2,055 131 1,477
Other 31 28 58 58
Other Comprehensive Income (29,365) 7,416 (1,660) 52,809
Comprehensive Income $ 366,413 $ 302,990 $ 718,127 $ 482,356