Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating revenues:    
Total operating revenues $ 33,285 $ 22,541
Operating expenses:    
Lease operating expenses 4,230 5,576
Production taxes 1,917 721
Depreciation, depletion and amortization 10,538 11,042
General and administrative 10,807 3,739
Accretion expense 228 565
Total operating expenses 26,640 21,643
Income from operations 6,645 898
Other (income) expenses:    
Interest expense 977 1,515
Gain on sale of other property and equipment (1,080)  
Loss on derivative contracts 2,513 418
Other (income) expense (49) (45)
Total other expenses 3,441 1,888
Income (loss) before income taxes 3,204 (990)
Income tax expense (benefit) 1,341 (169)
Income (loss) before equity in earnings of Medusa Spar LLC 1,863 (821)
Equity in earnings of Medusa Spar LLC   21
Net income (loss) 1,863 (800)
Preferred stock dividends (1,974)  
Loss available to common shareholders (111) (800)
Loss per common share:    
Basic (in dollars per share) $ 0.00 $ (0.02)
Diluted (in dollars per share) $ 0.00 $ (0.02)
Shares used in computing income per common share:    
Basic (in shares) 40,328 39,793
Diluted (in shares) 40,328 39,793
Crude Oil [Member]
    
Operating revenues:    
Total operating revenues 30,909 19,540
Natural Gas [Member]
    
Operating revenues:    
Total operating revenues $ 2,376 $ 3,001