Derivatives (Tables)

12 Months Ended

Dec. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

			Year Ended December 31, 2010

Change in fair value of derivatives that do not qualify for hedge
	accounting	$	22,405
Realized losses on derivatives			(26,542)
Loss on interest rate swaps		$	(4,137)

		Years Ended December 31,
		2012		2011		2010
Change in fair value of derivatives that do not qualify for hedge
	accounting	$	(3,473)	$	726	$	1,003
Realized losses on derivatives			4,514		7,015		7,955
Ineffective portion of derivatives qualifying for hedge accounting			(35)		(158)		142
Net losses related to commodity swaps		$	1,006	$	7,583	$	9,100
Put option premium mark to market			-		193		-
Losses on derivatives		$	1,006	$	7,776	$	9,100

Fair Value of Derivative Assets and Liabilities relating to commodity swaps

	The fair value of derivative assets and liabilities relating to commodity swaps are as follows (in thousands):

		December 31,
		2012		2011
Fair value of derivative assets — current, designated		$	724	$	151
Fair value of derivative assets — current, non-designated			2,510		2,716
Fair value of derivative liabilities — current, designated			(105)		(702)
Fair value of derivative liabilities — current, non-designated			(1,205)		(4,885)
Net fair value of derivatives		$	1,924	$	(2,720)

Notional Amount and Fair Value of Derivative Instruments

		December 31, 2012
Transaction Type		Volume	Fair Value
		(In thousands)
Cash Flow Hedges:*
	Liquids swaps (short contracts)	(5,496)	$	619
	Total swaps designated as cash flow hedges		$	619

Mark to Market Derivatives:*
	Swing swaps (long contracts)	890	$	(2)
	Physical offsets to swing swap transactions (short contracts)	(890)		-

	Basis swaps (long contracts)	2,450		13
	Physical offsets to basis swap transactions (short contracts)	(2,450)		7,179
	Basis swaps (short contracts)	(2,450)		5
	Physical offsets to basis swap transactions (long contracts)	2,450		(8,029)

	Third-party on-system swaps (long contracts)	465		(19)
	Physical offsets to third-party on-system swap transactions (short contracts)	(465)		33

	Processing margin hedges — liquids (short contracts)	(6,423)		1,212
	Processing margin hedges — gas (long contracts)	750		(21)

	Liquids swaps - non-designated (short contracts)	(4,393)		1,035
	Storage swap transactions (short contracts)	(2,400)		(101)

	Total mark to market derivatives		$	1,305

Impact of Cash Flow Hedges

	Years Ended December 31,
Increase (decrease) in Midstream revenue	2012		2011		2010
Liquids	$	1,381	$	(2,772)	$	(1,733)
	$	1,381	$	(2,772)	$	(1,733)

Derivatives Other than Cash Flow Hedges

	Maturity Periods
	Less than one year		One to two years		More than two years		Total fair value
December 31, 2012.	$	1,305	$	-	$	-	$	1,305

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details