XML 38 R33.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivatives And Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2013
Credit Risk Derivatives, at Fair Value, Net [Abstract]  
Estimated Fair Value Of Derivative Instruments Under Input Levels
 
Asset Derivatives
As of December 31,
 
Liability Derivatives
As of December 31,
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
 
(in thousands)
 
(in thousands)
Level 2 inputs
$
107,395

 
$
207,042

 
$
3,448

 
$
959

Level 3 inputs
23,485

 
11,595

 

 
16,526

Total
$
130,880

 
$
218,637

 
$
3,448

 
$
17,485

Changes In Level 3 Fair Values
 
As of December 31,
 
2013
 
2012
 
 
 
 
 
(In thousands)
Balance at beginning of period
$
(4,931
)
 
$
150,989

Total gains (losses) for the period:
 
 
 
Unrealized gain on derivatives
40,398

 
19,451

Transfers out of Level 3

 
(180,732
)
Settlements in production revenue

 
(3,738
)
Settlements in net derivative losses
(11,982
)
 
(25,203
)
Unrealized gains reported in OCI

 
34,302

Balance at end of period
$
23,485

 
$
(4,931
)
 
 
 
 
Total gains included in net derivative gains attributable to the change in unrealized gains related to assets still held at the reporting date
$
41,909

 
$
19,451

Price Collars And Swaps For Anticipated Natural Gas Production
Production
Year
 
Daily Production
Volume
 
 
Natural Gas
 
NGL
 
Natural Gas Basis Swaps
 
 
MMcfd
 
MBbld
 
MMcfd
 2014 (1)
 
170
 
4
 
40
2015
 
150
 
 
2016-2021
 
40
 
 

(1)
Our 2014 NGL derivatives end in September. Our natural gas derivatives and AECO to NYMEX natural gas basis swaps are in place for the whole of 2014.
Net Deferred Hedge Gain in AOCI to be Released into Earnings in a Future Period [Table Text Block]
 
(In thousands)
2014
$
37,084

2015
33,191

2016
13,476

2017
12,531

2018 and thereafter
$
41,443

 
$
137,725

Reduction Of Interest Expense Over The Life Of The Debt Instruments
 
(In thousands)
2014
2,039

2015
2,194

2016
569

 
$
4,802

Estimated Fair Value Of Derivative Instruments
 
Asset Derivatives
 
 
Liability Derivatives
 
As of December 31,
 
 
As of December 31,
 
2013
 
2012
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
(In thousands)
 
 
(In thousands)
Derivatives not designated as hedges:
 
 
 
 
 
 
 
 
Commodity contracts reported in:
 
 
 
 
 
 
 
 
Current derivative assets
$
60,063

 
$
113,367

 
 
$
2,540

 
$

Noncurrent derivative assets
105,315

 
107,542

 
 
31,958

 
2,272

Current derivative liabilities

 

 
 
3,125

 

Noncurrent derivative liabilities

 
92

 
 
323

 
17,577

Total derivatives not designated as hedges
$
165,378

 
$
221,001

 
 
$
37,946

 
$
19,849

Carrying Value Of Derivatives
 
For the Year Ended December 31, 2012
 
Commodity Hedges
 
 
 
(In thousands)
Derivative fair value at beginning of period
$
342,799

Settlements in production revenue
(176,084
)
Settlements in net derivative gains
(3,820
)
Ineffectiveness reported in net derivative gains
1,281

Unrealized gains reported in OCI
107,112

Derecognition of hedge
(271,288
)
Derivative fair value at end of period
$

Held-to-maturity Securities
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Market Value
 
 
 
 
 
 
 
 
 
(In thousands)
Marketable securities (held-to-maturity)
 
 
 
 
 
 
 
Time deposits
$
29,419

 
$

 
$
(22
)
 
$
29,397

Commercial paper
136,924

 
27

 
(25
)
 
136,926

Marketable securities
$
166,343

 
$
27

 
$
(47
)
 
$
166,323