Topic: (NYSE:OEI) Ocean Energy Inc (New),
Quote.com News Item #11685748
Headline: TABLE - Ocean Energy Inc (NYSE:OEI) Q3 profit vs loss
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HOUSTON, Oct 20 (Reuters) -
(Amounts in Thousands Except Per Share Data)
Third Quarter Nine Months
1999 1998 1999 1998
Revenues $214,393 $123,369 $516,293 $397,334
Costs of Operations:
Operations and
maintenance 54,672 50,048 165,278 135,460
Depreciation, depletion and
amortization 85,615 70,221 233,732 217,719
Provision for loss on sale of Canadian
assets -- -- 28,500 --
Write-down of oil and gas properties
-- -- -- 218,392
General and
administrative 4,955 4,628 18,038 13,646
145,242 124,897 445,548 585,217
Operating Profit
(Loss) 69,151 (1,528) 70,745 (187,883)
Other (Income) Expense:
Interest expense
30,410 18,621 86,601 40,562
Merger expense 3,176 -- 43,828 39,000
Interest income
and other (269) (1,286) (383) (2,094)
33,317 17,335 130,046 77,468
Income (Loss) Before
Income Taxes 35,834 (18,863) (59,301) (265,351)
Income Tax Expense
(Benefit) 6,404 (4,446) (9,269) (87,955)
Income (Loss) from Continuing
Operations 29,430 (14,417) (50,032) (177,396)
Loss from Discontinued Operations, net of
income taxes (625) -- (78) --
Net Income (Loss)
28,805 (14,417) (50,110) (177,396)
Preferred Stock
Dividend 819 -- 2,456 --
Net Income (Loss) Available to Common
Shareholders 27,986 (14,417) (52,566) (177,396)
Basic Earnings (Loss) Per Common Share:
Income (Loss) from Continuing
Operations 0.17 (0.14) (0.36) (1.76)
Discontinued
Operations -- -- -- --
Income (Loss) to Common
Shareholders 0.17 (0.14) (0.36) (1.76)
Diluted Earnings (Loss) Per Common Share:
Income (Loss) from Continuing
Operations 0.16 (0.14) (0.36) (1.76)
Discontinued
Operations -- -- -- --
Income (Loss) to Common
Shareholders 0.16 (0.14) (0.36) (1.76)
Weighted Average Number of Common Shares Outstanding:
Basic 166,680 100,924 145,670 100,544
Diluted 170,629 100,924 145,670 100,544 |
