Date: Sun, 16 Nov 1997 18:06:27 GMT Server: NeoWebScript/2.2 Apache/1.2.1 Connection: close Content-Type: text/html 1995 Annual Report


1995 Annual Report
Financial & Operating Highlights


Year Ended December 31,
1995
1994
1993
(in thousands, except per share information)
Financial Summary
Revenues $ 94,598 $ 69,728 $ 60,178
Income before income taxes $ 25,006 $ 22,548 $ 21,781
Income tax provision $ 8,742 $ 8,108 $ 7,753
Net income $ 16,264 $ 14,440 $ 14,028
Earnings per common share $ 0.90 $ 0.80 $ 0.98
Weighted average number of common shares 18,097 17,955 14,347
Cash Flow
Cash flow from operations before changes in assets and liabilities $ 75,613 $ 57,535 $ 48,024
Balance Sheet
Working capital $ 11,235 $ 10,987 $ 70,268
Long-term debt and capital lease obligations $ 25,152 $ 555 $ 446
Stockholder's equity $193,571 $169,491 $152,845
Operating Summary
Estimated Oil and Gas Reserves
Net proved reserves:
Oil (MBbls) 9,633 8,610 6,414
Natural gas (MMcf) 203,580 153,967 102,261
Gas equivalents (MMcfe) 261,378 205,627 140,745
Oil and Gas Operations
Production:
Oil (MBbls) 2,071 1,394 901
Natural gas (MMcf) 33,719 24,267 22,540
Gas equivalents (MMcfe) 46,145 32,631 27,946
Average realized prices:
Oil (per Bbl) $ 17.23 $ 15.73 $ 16.92
Natural gas (per Mcf) $ 1.75 $ 1.97 $ 1.99


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