Delaware (State or other jurisdiction of incorporation or organization)

71-0361522 (I.R.S. Employer Identification Number)

200 Peach Street P. O. Box 7000, El Dorado, Arkansas (Address of principal executive offices)

71731-7000 (Zip Code)

		(Unaudited)
		June 30, 2002				December 31, 2001
ASSETS
Current Assets
Cash and cash equivalents		$	140,986			82,652
Accounts receivable, less allowance for doubtful accounts of $11,487 in 2002 and $11,263 in 2001			383,660			262,022
Inventories
Crude oil and blend stocks			96,923			38,917
Finished products			100,466			85,133
Materials and supplies			60,061			49,098
Prepaid expenses			76,443			61,062
Deferred income taxes			20,466			19,777
Total current assets			879,005			598,661
Property, plant and equipment, at cost less accumulated depreciation and amortization of $3,425,548 in 2002 and $3,277,673 in 2001			2,754,150			2,525,807
Goodwill, net			52,908			50,412
Deferred charges and other assets			92,493			84,219
Total assets		$	3,778,556			3,259,099
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Current maturities of long-term debt		$	50,441			48,250
Accounts payable and accrued liabilities			584,799			463,429
Income taxes			52,656			48,378
Total current liabilities			687,896			560,057
Notes payable			712,845			416,061
Nonrecourse debt of a subsidiary			92,456			104,724
Deferred income taxes			329,432			302,868
Accrued dismantlement costs			169,569			160,764
Accrued major repair costs			46,416			44,570
Deferred credits and other liabilities			168,504			171,892
Stockholders’ equity
Cumulative Preferred Stock, par $100, authorized 400,000 shares, none issued			—			—
Common stock, par $1.00, authorized 200,000,000 shares, issued 48,775,314 shares			48,775			48,775
Capital in excess of par value			547,098			527,126
Retained earnings			1,078,797			1,096,567
Accumulated other comprehensive loss			(25,649	)		(83,309	)
Unamortized restricted stock awards			(231	)		(968	)
Treasury stock, 2,959,251 shares of Common Stock in 2002, 3,444,234 shares in 2001, at cost			(77,352	)		(90,028	)
Total stockholders’ equity			1,571,438			1,498,163
Total liabilities and stockholders’ equity		$	3,778,556			3,259,099

		Three Months Ended June 30,							Six Months Ended June 30,
		2002				2001			2002			2001
REVENUES
Crude oil and natural gas sales		$	259,873			232,952			454,806			470,151
Petroleum product sales			734,680			778,071			1,258,410			1,450,302
Crude oil trading sales			90,889			157,866			154,109			396,326
Other operating revenues			48,276			128,145			95,293			165,950
Interest and other nonoperating revenues			999			3,345			2,002			7,035
Total revenues			1,134,717			1,300,379			1,964,620			2,489,764
COSTS AND EXPENSES
Crude oil, products and related operating expenses			914,394			922,413			1,600,476			1,835,624
Exploration expenses, including undeveloped lease amortization			61,767			41,589			103,788			79,550
Selling and general expenses			23,129			24,983			45,491			46,029
Depreciation, depletion and amortization			84,682			58,256			155,371			112,488
Amortization of goodwill			—			785			—			1,573
Interest expense			13,287			9,702			22,829			19,446
Interest capitalized			(4,607	)		(4,333	)		(9,424	)		(7,919	)
Total costs and expenses			1,092,652			1,053,395			1,918,531			2,086,791
Income before income taxes			42,065			246,984			46,089			402,973
Income tax expense			28,136			84,416			29,626			142,569
NET INCOME		$	13,929			162,568			16,463			260,404
NET INCOME PER COMMON SHARE
Basic		$	.30			3.60			.36			5.77
Diluted		$	.30			3.56			.36			5.72
Average Common shares outstanding
Basic			45,784,073			45,206,604			45,635,493			45,139,453
Diluted			46,133,432			45,644,457			46,029,510			45,490,094

		Three Months Ended June 30,						Six Months Ended June 30,
		2002			2001			2002			2001
Net income		$	13,929		162,568			16,463			260,404
Other comprehensive income (loss), net of tax
Cash flow hedges
Net derivative gains			4,675		1,454			7,622			2,053
Reclassification adjustments			945		(232	)		(2,378	)		1,346
Total cash flow hedges			5,620		1,222			5,244			3,399
Net gain (loss) from foreign currency translation			57,412		29,571			52,416			(21,868	)
Other comprehensive income (loss) before cumulative effect of accounting change			63,032		30,793			57,660			(18,469	)
Cumulative effect of accounting change (Note B)			—		—			—			6,642
Other comprehensive income (loss)			63,032		30,793			57,660			(11,827	)
COMPREHENSIVE INCOME		$	76,961		193,361			74,123			248,577

		Six Months Ended June 30,
		2002				2001
OPERATING ACTIVITIES
Net income		$	16,463			260,404
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, depletion and amortization			155,371			112,488
Provisions for major repairs			9,332			11,051
Expenditures for major repairs			(9,805	)		(9,861	)
Dry holes			72,844			46,572
Amortization of undeveloped leases			12,267