Item 6.
Selected Financial Data
The following selected financial information was derived from our consolidated financial
statements, including the consolidated balance sheet at December 31, 2011 and 2010 and the related
consolidated statements of income and cash flows for each of the three years in the period ended
December 31, 2011 and the notes thereto, appearing elsewhere in this report. You should read this
information in conjunction with Item 7 – Management’s Discussion and Analysis of Financial Condition
and Results of Operations and our consolidated financial statements and notes thereto. This
information is not necessarily indicative of our future results.
Year Ended December 31,
2011
(1)
2010
(2)
2009
2008
(3)
2007
(4)
Income Statement Data
Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,964,488 $ 1,544,595 $ 1,187,130 $ 2,403,471 $ 1,272,840
Costs and Expenses
Production costs . . . . . . . . . . . . . . . . . . . .
558,975
451,902
423,967
626,428
413,122
General and administrative . . . . . . . . . . .
134,044
136,437
144,586
153,306
124,006
Depreciation, depletion, amortization
and accretion . . . . . . . . . . . . . . . . . . . .
681,655
551,118
421,580
621,484
316,078
Impairment of oil and gas
properties
(5)
. . . . . . . . . . . . . . . . . . . . . .
-
59,475
-
3,629,666
-
Legal recovery . . . . . . . . . . . . . . . . . . . . .
-
(8,423)
(87,272)
-
-
Other operating (income) expense . . . . .
(735)
(4,130)
2,136
-
-
1,373,939
1,186,379
904,997
5,030,884
853,206
Income (Loss) from Operations . . . . . . . . . .
590,549
358,216
282,133
(2,627,413)
419,634
Other Income (Expense)
Gain on sale of assets
(6)
. . . . . . . . . . . . .
-
-
-
65,689
-
Interest expense . . . . . . . . . . . . . . . . . . . .
(161,316)
(106,713)
(73,811)
(116,991)
(68,908)
Debt extinguishment costs
(7)
. . . . . . . . . .
(120,954)
(1,189)
(12,093)
(18,256)
-
Gain (loss) on mark-to-market
derivative contracts
(8)
. . . . . . . . . . . . . .
81,981
(60,695)
(7,017) 1,555,917
(88,549)
Loss on investment measured at
fair value
(9)
. . . . . . . . . . . . . . . . . . . . . .
(52,675)
(1,551)
-
-
-
Other income (expense) . . . . . . . . . . . . .
3,356
15,942
27,968
(12,575)
6,322
Income (Loss) Before Income Taxes . . . . .
340,941
204,010
217,180
(1,153,629)
268,499
Income tax benefit (expense)
Current . . . . . . . . . . . . . . . . . . . . . . .
25,952
93,090
(45,091)
(230,815)
4,677
Deferred . . . . . . . . . . . . . . . . . . . . . .
(160,214)
(193,835)
(35,784)
675,350
(114,425)
Net Income (Loss) . . . . . . . . . . . . . . . . . . . .
206,679 $ 103,265 $ 136,305 $ (709,094) $ 158,751
Net income attributable to noncontrolling
interest in the form of preferred stock
of subsidiary . . . . . . . . . . . . . . . . . . . . .
(1,400)
Net Income Attributable to
Common Stockholders
. . . . . . . . . . . . . $ 205,279
Earnings (Loss) per Common Share
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . $
1.45 $
0.74 $
1.10 $
(6.52) $
2.02
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . $
1.44 $
0.73 $
1.09 $
(6.52) $
1.99
Weighted Average Common
Shares Outstanding
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . .
141,227
140,438
124,405
108,828
78,627
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . .
142,999
141,897
125,288
108,828
79,808
Table continued on following page.
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