Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Operating revenues:        
Total operating revenues $ 39,657 $ 30,797 $ 113,444 $ 76,098
Operating expenses:        
Lease operating expenses 6,270 5,270 14,863 16,412
Production taxes 2,247 991 6,429 2,217
Depreciation, depletion and amortization 16,115 11,907 38,635 33,603
General and administrative 3,261 5,826 23,707 14,110
Accretion expense 202 458 603 1,556
Gain on sale of other property and equipment     (1,080)  
Total operating expenses 28,095 24,452 83,157 67,898
Income from operations 11,562 6,345 30,287 8,200
Other (income) expenses:        
Interest expense 2,205 1,417 5,007 4,469
Gain on early extinguishment of debt     (3,205)  
(Gain) loss on derivative contracts (9,944) 3,686 (2,746) 2,123
Other (income) expense (61) (279) (203) (368)
Total other (income) expenses (7,800) 4,824 (1,147) 6,224
Income before income taxes 19,362 1,521 31,434 1,976
Income tax expense 7,161 456 12,630 950
Income before equity in earnings of Medusa Spar LLC 12,201 1,065 18,804 1,026
Loss from Medusa Spar LLC   17   14
Net income 12,201 1,082 18,804 1,040
Preferred stock dividends (1,974) (1,974) (5,921) (2,654)
Income (loss) available to common shareholders 10,227 (892) 12,883 (1,614)
income (loss) per common share:        
Basic $ 0.24 $ (0.02) $ 0.31 $ (0.04)
Diluted $ 0.23 $ (0.02) $ 0.30 $ (0.04)
Shares used in computing income per common share:        
Basic 43,187 40,321 41,370 40,064
Diluted 44,211 40,321 42,510 40,064
Crude Oil [Member]
        
Operating revenues:        
Total operating revenues 36,346 27,014 104,965 65,615
Natural Gas [Member]
        
Operating revenues:        
Total operating revenues $ 3,311 $ 3,783 $ 8,479 $ 10,483