EXHIBIT 99.3
Selected Financial Data.
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| Year Ended December 31, |
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(in thousands, except per share amounts and ratios) |
| 2002 |
| 2001 |
| 2000 |
| 1999 |
| 1998 |
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Revenues and Income |
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Revenues |
| $ | 711,681 |
| $ | 799,416 |
| $ | 730,657 |
| $ | 558,887 |
| $ | 591,663 |
|
Net cash provided by operating activities |
| 504,291 |
| 623,762 |
| 558,315 |
| 343,100 |
| 382,010 |
| |||||
Income (loss) from continuing operations |
| 10,879 |
| 87,329 |
| 137,066 |
| 28,110 |
| (185,234 | ) | |||||
Net income (loss) |
| 17,652 |
| 133,575 |
| 191,597 |
| 49,461 |
| (164,025 | ) | |||||
Per Share Data |
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Basic earnings (loss) per share: |
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Income from continuing operations |
| $ | .19 |
| $ | 1.54 |
| $ | 2.45 |
| $ | .49 |
| $ | (3.25 | ) |
Net income (loss) |
| $ | .31 |
| $ | 2.36 |
| $ | 3.42 |
| $ | .87 |
| $ | (2.88 | ) |
Cash dividends |
| $ | .16 |
| $ | .16 |
| $ | .16 |
| $ | .16 |
| $ | .16 |
|
Year-end stock price |
| $ | 37.55 |
| $ | 35.29 |
| $ | 46.00 |
| $ | 21.44 |
| $ | 24.63 |
|
Basic weighted average shares outstanding |
| 57,196 |
| 56,549 |
| 55,999 |
| 57,005 |
| 56,955 |
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Financial Position (at year end) |
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Property, plant and equipment, net: |
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Oil and gas mineral interests, equipment and facilities |
| $ | 2,139,785 |
| $ | 1,953,211 |
| $ | 1,485,123 |
| $ | 1,242,370 |
| $ | 1,429,667 |
|
Total assets |
| 2,730,015 |
| 2,604,255 |
| 2,002,819 |
| 1,543,023 |
| 1,686,080 |
| |||||
Long-term obligations: |
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|
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Long-term debt, net of current portion |
| 977,116 |
| 961,118 |
| 648,567 |
| 567,524 |
| 745,143 |
| |||||
Deferred income taxes |
| 201,939 |
| 176,259 |
| 117,048 |
| 83,075 |
| 106,823 |
| |||||
Other |
| 69,820 |
| 75,629 |
| 61,639 |
| 53,877 |
| 52,868 |
| |||||
Shareholders’ equity |
| 1,009,386 |
| 1,010,198 |
| 849,682 |
| 683,609 |
| 642,080 |
| |||||
Ratio of debt-to-book capital |
| .50 |
| .50 |
| .44 |
| .46 |
| .54 |
| |||||
Capital Expenditures |
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Oil and gas mineral interests, equipment and facilities |
| $ | 543,967 |
| $ | 765,291 |
| $ | 502,430 |
| $ | 121,077 |
| $ | 445,910 |
|
Methanol and power projects |
| 57,646 |
| 95,716 |
| 98,737 |
| 89,728 |
| 25,131 |
| |||||
Other |
| 3,185 |
| 1,932 |
| 4,430 |
| 1,410 |
| 2,733 |
| |||||
Total capital expenditures |
| $ | 604,798 |
| $ | 862,939 |
| $ | 605,597 |
| $ | 212,215 |
| $ | 473,774 |
|
For additional information, see “Financial Statements and Supplementary Data” of this Form 8-K. The selected financial data has been adjusted to reflect reclassifications that the Company has made to reflect the adoption of EITF 02-03, “Recognition and Reporting of Gains and Losses on Energy Trading Contracts” and the reporting of discontinued operations for the sale of oil and gas properties in 2003.
Operating Statistics
|
| Year Ended December 31, |
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|
| 2002 |
| 2001 |
| 2000 |
| 1999 |
| 1998 |
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Natural Gas |
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Sales (in millions) |
| $ | 341.4 |
| $ | 488.3 |
| $ | 449.5 |
| $ | 308.6 |
| $ | 375.1 |
|
Production (MMcfpd) |
| 343.2 |
| 355.9 |
| 336.1 |
| 386.7 |
| 476.4 |
| |||||
Average realized price (per Mcf) |
| $ | 2.90 |
| $ | 3.93 |
| $ | 3.75 |
| $ | 2.22 |
| $ | 2.19 |
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Crude Oil |
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Sales (in millions) |
| $ | 261.1 |
| $ | 217.6 |
| $ | 180.6 |
| $ | 151.0 |
| $ | 136.6 |
|
Production (Bopd) |
| 30,123 |
| 26,116 |
| 20,944 |
| 25,194 |
| 31,661 |
| |||||
Average realized price (per Bbl) |
| $ | 24.25 |
| $ | 24.46 |
| $ | 24.18 |
| $ | 16.24 |
| $ | 11.67 |
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Royalty sales (in millions) |
| $ | 15.6 |
| $ | 20.9 |
| $ | 17.3 |
| $ | 14.0 |
| $ | 13.1 |
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