| (in thousands) | Three Months Ended March 31, | Year Ended December 31, | ||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||
| Gross G&A | $ 17,623 | $ 86,212 | $ 73,453 | $ 62,876 | $ 42,142 | $ 29,972 | ||||||||
| Net G&A | 8,419 | 38,673 | 34,182 | 27,634 | 18,866 | 14,357 | ||||||||
| Interest Expense, Net | 7,467 | 31,079 | 28,082 | 23,582 | 24,873 | 27,643 | ||||||||
| Rent Expense | 771 | 2,947 | 2,952 | 2,567 | 2,529 | 2,101 | ||||||||
| Income (loss) from Continuing Operations Before Income Taxes | (91,969) | (412,758) | 244,556 | 248,308 | 156,129 | 86,083 | ||||||||
| Capitalized Interest | 1,523 | 8,037 | 9,545 | 9,211 | 7,199 | 6,490 | ||||||||
| Calculated Data | ||||||||||||||
| Unallocated G&A (%) | 47.77 | % | 44.86 | % | 46.54 | % | 43.95 | % | 44.77 | % | 47.90 | % | ||
| Non-Capital Rent Expense | $ 368 | $ 1,322 | $ 1,374 | $ 1,128 | $ 1,132 | $ 1,006 | ||||||||
| 1/3 Non-Capital Rent Expense | 123 | 441 | 458 | 376 | 377 | 335 | ||||||||
| Fixed Charges | 9,113 | 39,557 | 38,085 | 33,169 | 32,449 | 34,468 | ||||||||
| Earnings | (84,379) | (381,238) | 273,096 | 272,266 | 181,379 | 114,061 | ||||||||
| Ratio of Earnings to Fixed Charges | * | * | 7.17 | 8.21 | 5.59 | 3.31 | ||||||||
| * | Due to the $754.3 million non-cash charge incurred in the fourth quarter of 2008, and the $79.3 million non-cash charge incurred in the first quarter of 2009, both caused by a write-down in the carrying value of oil and gas properties due to the rapid decline of oil and gas prices during those periods, 2008 earnings were insufficient to cover fixed charges by $420.8 million, and first quarter 2009 earnings were insufficient to cover fixed charges by $93.5 million. If the $754.3 million non-cash charge at year-end 2008 is excluded in calculating earnings, the ratio of earnings to fixed charges would have been 9.43 for the year ended December 31, 2008. If the $79.3 million non-cash charge is excluded in calculating earnings, the ratio of earnings to fixed charges for the quarter ended March 31, 2009, would have still been insufficient to cover fixed charges by $14.2 million. | |
