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, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues        
LNG terminal revenues $ 66,071 $ 67,302 $ 133,331 $ 137,303
Marketing and trading revenues (losses) (4,007) 4,606 (1,349) 13,054
Oil and gas sales 264 884 814 1,653
Other 0 18 5 31
Total revenues 62,328 72,810 132,801 152,041
Operating costs and expenses        
General and administrative expense 20,816 19,378 40,809 40,889
Depreciation, depletion and amortization 15,478 15,625 31,768 31,011
LNG terminal and pipeline operating expense 10,993 7,853 22,550 18,048
LNG terminal and pipeline development expense 21,088 13,356 42,907 21,793
Other 74 137 166 275
Total operating costs and expenses 68,449 56,349 138,200 112,016
Income (loss) from operations (6,121) 16,461 (5,399) 40,025
Other income (expense)        
Interest expense, net (55,864) (64,587) (114,215) (128,741)
Loss on early extinguishment of debt (14,593) 0 (15,100) 0
Derivative gain (loss) 261 (448) (575) (448)
Other income 458 118 583 227
Total other expense (69,738) (64,917) (129,307) (128,962)
Loss before income taxes and non-controlling interest (75,859) (48,456) (134,706) (88,937)
Income tax provision (144) 0 (150) 0
Loss before non-controlling interest (76,003) (48,456) (134,856) (88,937)
Non-controlling interest 2,963 1,285 5,401 1,927
Net loss $ (73,040) $ (47,171) $ (129,455) $ (87,010)
Net loss per share attributable to common stockholders - basic and diluted $ (0.43) $ (0.67) $ (0.86) $ (1.26)
Weighted average number of common shares outstanding - basic and diluted 171,001 70,630 151,054 68,800