Attached files
| file | filename |
|---|---|
| 8-K/A - AMENDMENT TO FORM 8-K - Amplify Energy Corp. | a13-8188_18ka.htm |
Exhibit 99.1
Midstates Petroleum Company, Inc.
Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)
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For the Three Months |
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For the Twelve Months |
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2012 |
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2011 |
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2012 |
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2011 |
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REVENUES: |
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Oil sales |
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$ |
72,149 |
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$ |
54,646 |
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$ |
218,430 |
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$ |
177,464 |
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Natural gas sales |
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7,944 |
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5,851 |
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16,030 |
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20,665 |
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Natural gas liquid sales |
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9,310 |
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5,735 |
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23,617 |
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15,683 |
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Gains (Losses) on commodity derivative contracts — net (1) |
|
(910 |
) |
(27,285 |
) |
(11,158 |
) |
(4,844 |
) | ||||
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Other |
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422 |
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205 |
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754 |
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465 |
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Total revenues |
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88,915 |
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39,152 |
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247,673 |
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209,433 |
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EXPENSES: |
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Lease operating and workover |
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11,543 |
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5,981 |
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30,500 |
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16,117 |
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Severance and other taxes |
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6,823 |
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4,588 |
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24,921 |
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13,640 |
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Asset retirement accretion |
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260 |
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129 |
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723 |
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334 |
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General and administrative |
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11,573 |
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37,307 |
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30,541 |
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68,915 |
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Acquisition and transaction costs |
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12,209 |
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— |
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14,884 |
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— |
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Depreciation, depletion, and amortization |
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38,960 |
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29,068 |
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125,561 |
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91,699 |
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Total expenses |
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81,368 |
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77,073 |
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227,130 |
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190,705 |
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OPERATING INCOME (LOSS) |
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7,547 |
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(37,921 |
) |
20,543 |
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18,728 |
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OTHER INCOME (EXPENSE) |
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Interest income |
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15 |
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8 |
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245 |
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23 |
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Interest expense — net of amounts capitalized |
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(9,411 |
) |
(1,359 |
) |
(12,999 |
) |
(2,094 |
) | ||||
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Total other income (expense) |
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(9,396 |
) |
(1,351 |
) |
(12,754 |
) |
(2,071 |
) | ||||
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INCOME (LOSS) BEFORE TAXES |
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(1,849 |
) |
(39,272 |
) |
7,789 |
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16,657 |
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Income tax expense (benefit) |
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561 |
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— |
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157,886 |
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— |
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NET INCOME (LOSS) |
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$ |
(2,410 |
) |
$ |
(39,272 |
) |
$ |
(150,097 |
) |
$ |
16,657 |
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Undeclared preferred stock dividend - at Company option, payable in shares upon conversion or in cash |
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(6,500 |
) |
— |
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(6,500 |
) |
— |
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NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS |
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$ |
(8,910 |
) |
$ |
(39,272 |
) |
$ |
(156,597 |
) |
$ |
16,657 |
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Loss per share (2) |
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Basic and Diluted |
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$ |
(0.14 |
) |
N/A |
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$ |
(2.61 |
) |
N/A |
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Weighted average shares outstanding (2) |
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Basic and Diluted |
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65,634 |
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N/A |
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59,979 |
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N/A |
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(1) Includes an insignificant realized gain on commodity derivatives for the three months ended December 31, 2012. Includes $4.6 million, $15.8 million and $16.7 million of realized losses on commodity derivatives for the three months ended December 31, 2011, the twelve months ended December 31, 2012 and the twelve months ended December 31, 2011.
(2) For the twelve months ended December 31, 2012, the calculations of loss per share and weighted average shares outstanding are pro forma.