text: 20% 
  $5,000 
  
  •*Production taxes*also only increased slightly (11 percent), 
  despite significant revenue increase (87 percent). Through a 
  series of strategic dispositions, the Company has shifted its 
  state production mix from primarily high severance tax rate 
  jurisdictions (states of Colorado and North Dakota) to lower severance tax rate jurisdictions 
  (states of Texas and Oklahoma). 
  
   Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 
  
  n ADJUSTED EBITDAX (US$000s) 
  —— ADJUSTED EBITDAX MARGIN (%) 
  
  •*General and administrative expenses*remained relatively flat compared to prior year. 
  This is primarily due to the fact that the Company began ramping up staffing in 2013 as 
  it expected development growth in late 2013 and 2014. 