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STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Feb. 28, 2014
|
Feb. 28, 2013
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Feb. 28, 2014
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Feb. 28, 2013
|
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| STATEMENTS OF OPERATIONS [Abstract] | ||||
| Oil and gas revenues | $ 23,028 | $ 10,921 | $ 42,294 | $ 19,235 |
| Expenses | ||||
| Lease operating expenses | 1,806 | 781 | 3,079 | 1,304 |
| Production taxes | 2,255 | 1,094 | 4,271 | 1,908 |
| Depletion, depreciation, and amortization | 7,719 | 3,176 | 13,310 | 5,496 |
| General and administrative | 1,770 | 1,388 | 4,938 | 2,499 |
| Total expenses | 13,550 | 6,439 | 25,598 | 11,207 |
| Operating income | 9,478 | 4,482 | 16,696 | 8,028 |
| Other income (expense) | ||||
| Commodity derivative realized loss | (191) | (20) | (589) | (20) |
| Commodity derivative unrealized gain (loss) | (1,805) | (134) | 831 | (134) |
| Interest income | 17 | 8 | 48 | 15 |
| Total other income (expense) | (1,979) | (146) | 290 | (139) |
| Income before income taxes | 7,499 | 4,336 | 16,986 | 7,889 |
| Deferred income tax provision | (2,338) | (1,604) | (5,725) | (2,919) |
| Net income | $ 5,161 | $ 2,732 | $ 11,261 | $ 4,970 |
| Net income per common share: | ||||
| Basic | $ 0.07 | $ 0.05 | $ 0.15 | $ 0.09 |
| Diluted | $ 0.07 | $ 0.05 | $ 0.15 | $ 0.09 |
| Weighted average shares outstanding: | ||||
| Basic | 76,203,938 | 54,900,326 | 74,934,940 | 53,272,213 |
| Diluted | 77,990,416 | 56,481,752 | 76,843,593 | 54,713,361 |