Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data
 3 Months Ended 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues        
LNG terminal revenues $ 68,375 $ 65,945 $ 205,678 $ 199,109
Marketing and trading (2,999) 1,533 10,055 14,703
Oil and gas sales 426 749 2,079 2,170
Other 11 21 42 58
Total revenues 65,813 68,248 217,854 216,040
Operating costs and expenses        
General and administrative expense 16,227 15,145 57,116 51,273
Depreciation, depletion and amortization 15,271 16,649 46,282 47,885
LNG terminal and pipeline operating expense 10,976 9,053 29,023 31,673
LNG terminal and pipeline development expense 11,143 4,885 32,936 6,746
Other 1,841 133 2,117 343
Total operating costs and expenses 55,458 45,865 167,474 137,920
Income from operations 10,355 22,383 50,380 78,120
Other income (expense)        
Gain on sale of equity method investment 0 0 0 128,330
Interest expense, net (65,125) (63,899) (193,867) (198,044)
Loss on early extinguishment of debt 0 0 0 (1,011)
Derivative gain (loss), net (716) 0 (1,164) 461
Other income (expense) 17 215 245 366
Total other expense (65,824) (63,684) (194,786) (69,898)
Loss before income taxes and non-controlling interest (55,469) (41,301) (144,406) 8,222
Income tax provision 0 0 0 0
Loss before non-controlling interest (55,469) (41,301) (144,406) 8,222
Non-controlling interest 1,533 721 3,459 1,708
Net loss $ (53,936) $ (40,580) $ (140,947) $ 9,930
Net loss per share attributable to common stockholders—basic $ (0.67) $ (0.73) $ (1.94) $ 0.18
Net loss per share attributable to common stockholders—diluted $ (0.67) $ (0.73) $ (1.94) $ 0.16
Weighted average number of common shares outstanding—basic 80,473 55,609 72,739 55,316
Weighted average number of common shares outstanding—diluted 80,473 55,609 72,739 61,314