(4) | DISCONTINUED OPERATIONS |
The following table represents the components of our Barnett Shale operations as discontinued operations for the year ended December 31, 2011 (in thousands).
|
Year Ended 2011 |
|
|
Revenues and other income: |
|
|
|
Natural gas, NGLs and oil sales |
$ |
59,185 |
|
Gain on the sale of assets |
|
4,771 |
|
Other |
|
10 |
|
Total revenues and other income |
|
63,966 |
|
Costs and expenses: |
|
|
|
Direct operating |
|
10,080 |
|
Transportation, gathering and compression |
|
5,257 |
|
Production and ad valorem taxes |
|
1,309 |
|
Exploration |
|
37 |
|
Interest expense (a) |
|
14,791 |
|
Depletion, depreciation and amortization |
|
8,894 |
|
Total costs and expenses |
|
40,368 |
|
Income before income taxes |
|
23,598 |
|
Income tax expense |
|
|
|
Current |
|
¾ |
|
Deferred |
|
8,278 |
|
|
|
8,278 |
|
Net income from discontinued operations |
$ |
15,320 |
|
|
|
|
|
(a) | Interest expense is allocated to discontinued operations based on the ratio of net assets of discontinued operations to our consolidated net assets plus long-term debt. |