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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues        
Oil and gas sales $ 20,834 $ 22,356 $ 43,865 $ 43,479
Realized gain (loss) on derivative instruments, net 222 (185) 341 137
Field service income 5,337 5,169 10,452 9,774
Administrative overhead fees 2,110 2,121 4,274 4,338
Unrealized gain (loss) on derivative instruments, net 8,877 6,013 5,098 (3,496)
Other income 46 36 103 49
Total Revenues 37,426 35,510 64,133 54,281
Costs and Expenses        
Lease operating expense 9,973 8,903 19,473 16,809
Field service expense 4,363 4,239 8,748 8,144
Depreciation, depletion and amortization and accretion on discounted liabilities 7,124 11,995 13,962 18,031
General and administrative expense 3,797 4,000 7,686 7,037
Exploration costs 5 7 10 8
Total Costs and Expenses 25,262 29,144 49,879 50,029
Gain on Sale and Exchange of Assets 2 11 706 233
Income from Operations 12,166 6,377 14,960 4,485
Other Income and Expenses        
Less: Interest expense 831 1,139 1,587 2,350
Add: Interest income 38 4 48 85
Income Before Provision for Income Taxes 11,373 5,242 13,421 2,220
Provision for Income Taxes 3,814 1,571 4,201 458
Net Income 7,559 3,671 9,220 1,762
Less: Net Income Attributable to Non-Controlling Interests 136 468 474 941
Net Income Attributable to PrimeEnergy $ 7,423 $ 3,203 $ 9,220 $ 1,762
Basic Income Per Common Share $ 2.81 $ 1.16 $ 3.28 $ 0.30
Diluted Income Per Common Share $ 2.20 $ 0.92 $ 2.57 $ 0.23