Earnings Per Share

3 Months Ended

Mar. 31, 2014

Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of shares outstanding for the periods presented. The calculation of diluted earnings per share includes the impact of potentially dilutive non-vested restricted shares outstanding during the periods presented, unless their effect is anti-dilutive. There are no adjustments made to income available to common stockholders in the calculation of diluted earnings per share.

The following is a calculation of the basic and diluted weighted-average shares outstanding for the three months ended March 31, 2014 and 2013:



	Three Months Ended March 31,
	2014	2013
	(In thousands)
Basic weighted average common shares outstanding	99,560	92,375
Dilution effect of stock awards at end of period	489	276
Diluted weighted average common shares outstanding	100,049	92,651
Anti-dilutive stock-based compensation awards	1,047	778

Issuance of common stock. On December 9, 2013, the Company completed a public offering of 7,000,000 shares of its common stock, par value $0.01 per share, at an offering price of $44.94 per share. Net proceeds from the offering were $314.4 million, after deducting offering expenses, of which $70,000 is included in common stock and $314.3 million is included in additional paid-in capital on the Company’s Consolidated Balance Sheet. The Company used the net proceeds to repay outstanding indebtedness under its Second Amended Credit Facility, to fund its exploration, development and acquisition program and for general corporate purposes.

- Definition

The entire disclosure for earnings per share.

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