Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v2.4.1.9
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Operating revenues:      
Total operating revenues $ 151,862us-gaap_OilAndGasSalesRevenue $ 102,569us-gaap_OilAndGasSalesRevenue $ 110,733us-gaap_OilAndGasSalesRevenue
Operating expenses:      
Lease operating expenses 22,372us-gaap_LeaseOperatingExpense 19,779us-gaap_LeaseOperatingExpense 23,330us-gaap_LeaseOperatingExpense
Production taxes 8,973us-gaap_ProductionTaxExpense 4,133us-gaap_ProductionTaxExpense 3,224us-gaap_ProductionTaxExpense
Depreciation, depletion and amortization 56,724us-gaap_DepreciationDepletionAndAmortization 43,967us-gaap_DepreciationDepletionAndAmortization 49,701us-gaap_DepreciationDepletionAndAmortization
General and administrative 25,109us-gaap_GeneralAndAdministrativeExpense 20,534us-gaap_GeneralAndAdministrativeExpense 20,358us-gaap_GeneralAndAdministrativeExpense
Accretion expense 826us-gaap_AccretionExpense 1,785us-gaap_AccretionExpense 2,253us-gaap_AccretionExpense
Gain on sale of other property and equipment (1,080)us-gaap_GainLossOnSaleOfOilAndGasProperty    
Impairment of other property and equipment   1,707us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf 1,177us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf
Acquisition expense 668us-gaap_CostsIncurredAcquisitionOfOilAndGasProperties    
Total operating expenses 113,592us-gaap_OperatingExpenses 91,905us-gaap_OperatingExpenses 100,043us-gaap_OperatingExpenses
Income from operations 38,270us-gaap_OperatingIncomeLoss 10,664us-gaap_OperatingIncomeLoss 10,690us-gaap_OperatingIncomeLoss
Other (income) expenses:      
Interest expense 9,772us-gaap_InterestExpense 6,094us-gaap_InterestExpense 9,108us-gaap_InterestExpense
Gain on early extinguishment of debt (151)us-gaap_GainsLossesOnExtinguishmentOfDebt (3,696)us-gaap_GainsLossesOnExtinguishmentOfDebt (1,366)us-gaap_GainsLossesOnExtinguishmentOfDebt
(Gain) loss on derivative contracts (31,736)us-gaap_GainLossOnDerivativeInstrumentsNetPretax 1,360us-gaap_GainLossOnDerivativeInstrumentsNetPretax (1,717)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
Other income (515)us-gaap_OtherNonoperatingIncomeExpense (485)us-gaap_OtherNonoperatingIncomeExpense (79)us-gaap_OtherNonoperatingIncomeExpense
Total other (income) expense (22,630)us-gaap_NonoperatingIncomeExpense 3,273us-gaap_NonoperatingIncomeExpense 5,946us-gaap_NonoperatingIncomeExpense
Income before income taxes 60,900us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 7,391us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 4,744us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense 23,134us-gaap_IncomeTaxExpenseBenefit 3,104us-gaap_IncomeTaxExpenseBenefit 2,223us-gaap_IncomeTaxExpenseBenefit
Income before equity in earnings of Medusa Spar LLC 37,766cpe_IncomeBeforeEquityInEarningsOfEquityMethodInvestments 4,287cpe_IncomeBeforeEquityInEarningsOfEquityMethodInvestments 2,521cpe_IncomeBeforeEquityInEarningsOfEquityMethodInvestments
Equity in earnings of Medusa Spar LLC   17us-gaap_IncomeLossFromEquityMethodInvestments 226us-gaap_IncomeLossFromEquityMethodInvestments
Net income 37,766us-gaap_NetIncomeLoss 4,304us-gaap_NetIncomeLoss 2,747us-gaap_NetIncomeLoss
Preferred stock dividends (7,895)us-gaap_PreferredStockDividendsIncomeStatementImpact (4,627)us-gaap_PreferredStockDividendsIncomeStatementImpact  
Income (loss) available to common shareholders 29,871us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic (323)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 2,747us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
income (loss) per common share:      
Basic $ 0.67us-gaap_EarningsPerShareBasic $ (0.01)us-gaap_EarningsPerShareBasic $ 0.07us-gaap_EarningsPerShareBasic
Diluted $ 0.65us-gaap_EarningsPerShareDiluted $ (0.01)us-gaap_EarningsPerShareDiluted $ 0.07us-gaap_EarningsPerShareDiluted
Shares used in computing income (loss) per common share:      
Basic 44,848us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 40,133us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 39,522us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted 45,961us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 40,133us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 40,337us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Crude Oil [Member]      
Operating revenues:      
Total operating revenues 139,374us-gaap_OilAndGasSalesRevenue
/ us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionProductionTypeAxis
= us-gaap_CrudeOilMember
88,960us-gaap_OilAndGasSalesRevenue
/ us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionProductionTypeAxis
= us-gaap_CrudeOilMember
96,584us-gaap_OilAndGasSalesRevenue
/ us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionProductionTypeAxis
= us-gaap_CrudeOilMember
Natural Gas [Member]      
Operating revenues:      
Total operating revenues $ 12,488us-gaap_OilAndGasSalesRevenue
/ us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionProductionTypeAxis
= us-gaap_NaturalGasReservesMember
$ 13,609us-gaap_OilAndGasSalesRevenue
/ us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionProductionTypeAxis
= us-gaap_NaturalGasReservesMember
$ 14,149us-gaap_OilAndGasSalesRevenue
/ us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionProductionTypeAxis
= us-gaap_NaturalGasReservesMember