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Consolidated Statement Of Operations (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenue:        
Oil and gas sales $ 22,171,000 $ 21,529,000 $ 43,616,000 $ 43,834,000
Field service income 5,169,000 3,808,000 9,774,000 7,843,000
Administrative overhead fees 2,121,000 2,100,000 4,338,000 4,148,000
Unrealized gain(loss) on derivative instruments 6,013,000 5,359,000 (3,496,000) 9,243,000
Other income 36,000 118,000 49,000 193,000
Total revenue 35,510,000 32,914,000 54,281,000 65,261,000
Costs and expenses:        
Lease operating expense 8,903,000 8,668,000 16,809,000 17,537,000
Field service expense 4,239,000 3,265,000 8,144,000 6,533,000
Depreciation, depletion and amortization and accretion on discounted liabilities 11,995,000 7,291,000 18,031,000 16,929,000
General and administrative expense 4,000,000 2,945,000 7,037,000 5,977,000
Exploration costs 7,000 4,000 8,000 5,000
Total costs and expenses 29,144,000 22,173,000 50,029,000 46,981,000
Gain on sale and exchange of assets 11,000 316,000 233,000 350,000
Income from operations 6,377,000 11,057,000 4,485,000 18,630,000
Other income and expenses:        
Less: Interest expense 1,139,000 1,640,000 2,350,000 3,633,000
Add: Interest income 4,000 11,000 85,000 22,000
Income before provision for income taxes 5,242,000 9,428,000 2,220,000 15,019,000
Provision for income taxes 1,571,000 2,925,000 458,000 4,634,000
Net income 3,671,000 6,503,000 1,762,000 10,385,000
Less: Net income attributable to non-controlling interest 468,000 268,000 941,000 710,000
Net income attributable to PrimeEnergy $ 3,203,000 $ 6,235,000 $ 821,000 $ 9,675,000
Basic income per common share $ 1.16 $ 2.09 $ 0.30 $ 3.23
Diluted income per common share $ 0.92 $ 1.68 $ 0.23 $ 2.59