Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues      
LNG terminal revenues $ 274,272 $ 269,538 $ 170,071
Marketing and trading revenues 13,554 19,022 8,087
Oil and gas sales 2,568 2,858 2,866
Other 50 95 102
Total revenues 290,444 291,513 181,126
Operating costs and expenses      
General and administrative expense 88,427 68,626 65,830
Depreciation, depletion and amortization 63,405 63,251 54,229
LNG terminal and pipeline operating expense 39,101 42,415 36,857
LNG terminal and pipeline development expense 40,803 11,971 223
Other 562 627 491
Total operating costs and expenses 232,298 186,890 157,630
Income from operations 58,146 104,623 23,496
Other income (expense)      
Interest expense, net (259,393) (262,046) (243,295)
Gain (loss) on early extinguishment of debt 0 (50,320) 45,363
Gain on sale of equity method investment 0 128,330 0
Derivative gain (loss) (2,251) 461 5,277
Other income 320 558 1,504
Total other expense (261,324) (183,017) (191,151)
Loss before income taxes and non-controlling interest (203,178) (78,394) (167,655)
Income tax provision (160) 0 0
Loss before non-controlling interest (203,338) (78,394) (167,655)
Non-controlling interest 4,582 2,191 6,165
Net loss $ (198,756) $ (76,203) $ (161,490)
Net loss per share attributable to common stockholders - basic and diluted $ (2.60) $ (1.37) $ (3.13)
Weighted average number of common shares outstanding - basic and diluted 76,483 55,765 51,598