CLR: First Quarter 2010 Earnings Report

Financials
Total revenues, 1Q, 2009: $96 million
Total revenues, 1Q, 2010: $248 million (wow)

Operating costs, 1Q, 2009: $135 million
Operating costs, 1Q, 2010: $123 million (less despite increased production)

Net income, 1Q, 2009: ($26 million) -- a loss one year ago
Net income, 1Q, 2010: $72 million -- great gain this year

Per share, 1Q, 2009: (16 cents) -- a loss
Per share, 1Q, 2010: 43 cents -- beats by 8 cents; Reuter's "handily beats"

Operations

Crude oil, 1Q, 2009: 2.4 million bbls

Crude oil, 1Q, 2010: 2.6 million bbls

Comment: the numbers speak for themselves. One interesting line item: in 2010, CLR reported a one-time gain of $26 million on mark-to-market derivative instruments; one year ago, no gain was reported. CLR set aside $44 million for income taxes (against $217 million in crude oil and natural gas sales + $26 million for gain from derivative instruments = 18%.