|
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Revenue: | |||
| Oil | $ 321,047 | $ 240,444 | $ 203,876 |
| Gas | 21,444 | 16,289 | 19,376 |
| Natural gas liquids | 7,288 | 1,535 | 3,656 |
| Total revenue | 349,779 | 258,268 | 226,908 |
| Operating expenses: | |||
| Lease operating | 103,276 | 79,922 | 59,516 |
| Production and ad valorem taxes | 40,402 | 35,716 | 31,379 |
| Depletion, depreciation, amortization and asset retirement obligation accretion | 116,344 | 78,414 | 57,664 |
| Impairment of proved oil and gas properties | 188,000 | ||
| General and administrative | 35,625 | 24,032 | 20,914 |
| Total operating expenses | 483,647 | 218,084 | 169,473 |
| Income (loss) from operations | (133,868) | 40,184 | 57,435 |
| Other income (expense): | |||
| Interest expense, net | (29,302) | (15,523) | (3,844) |
| Commodity derivative instruments gain (loss) | (15,336) | 5,176 | (5,321) |
| Other income | 21 | 20 | 85 |
| Total other expense | (44,617) | (10,327) | (9,080) |
| Income (loss) before income taxes | (178,485) | 29,857 | 48,355 |
| Income tax benefit (expense) | 64,679 | (11,881) | (17,870) |
| Net income (loss) | $ (113,806) | $ 17,976 | $ 30,485 |
| Net income (loss) per common share: | |||
| Basic | $ (1.67) | $ 0.30 | $ 0.53 |
| Diluted | $ (1.67) | $ 0.30 | $ 0.47 |
| Weighted average common shares outstanding: | |||
| Basic | 68,260 | 59,424 | 57,612 |
| Diluted | 68,260 | 59,452 | 65,029 |