Derivatives (Tables)

9 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity Swap

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2012		2011		2012		2011
Change in fair value of derivatives that do not qualify for hedge
	accounting	$	433	$	(619)	$	(5,481)	$	111
Realized losses on derivatives			308		1,227		3,547		5,355
Ineffective portion of derivatives qualifying for hedge accounting			18		(45)		(43)		(127)
Net (gains) losses related to commodity swaps		$	759	$	563	$	(1,977)	$	5,339
Put option premium mark to market			-		-		-		181
(Gains) losses on derivatives		$	759	$	563	$	(1,977)	$	5,520

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):
	September 30,		December 31,
	2012		2011
Fair value of derivative assets — current, designated	$	888	$	151
Fair value of derivative assets — current, non-designated		3,448		2,716
Fair value of derivative assets — long term, designated		54		-
Fair value of derivative assets — long term, non-designated		696		-
Fair value of derivative liabilities — current, designated		(29)		(702)
Fair value of derivative liabilities — current, non-designated		(831)		(4,885)
Fair value of derivative liabilities — long term, designated		(11)		-
Fair value of derivative liabilities — long term, non-designated		(1)		-
Net fair value of derivatives	$	4,214	$	(2,720)

Notional Amount and Fair Value of Derivative Instruments

		September 30, 2012
Transaction Type		Volume	Fair Value
		(In thousands)
Cash Flow Hedges:*
	Liquids swaps (short contracts)	(8,000)	$	902
	Total swaps designated as cash flow hedges		$	902
Mark to Market Derivatives:*
	Swing swaps (long contracts)	186	$	(1)
	Physical offsets to swing swap transactions (short contracts)	(186)		-
	Swing swaps (short contracts)	(620)		(3)
	Physical offsets to swing swap transactions (long contracts)	620		-
	Basis swaps (long contracts)	775		(28)
	Physical offsets to basis swap transactions (short contracts)	(775)		2,071
	Basis swaps (short contracts)	(775)		23
	Physical offsets to basis swap transactions (long contracts)	775		(2,233)
	Processing margin hedges — liquids (short contracts)	(8,791)		2,453
	Processing margin hedges — gas (long contracts)	1,167		(285)
	Processing margin hedges — gas (short contracts)	(161)		147
	Liquids swaps - non-designated (short contracts)	(4,393)		1,126
	Storage swap transactions — gas (short contracts)	(300)		(77)
	Storage swap transactions — liquids inventory (long contracts)	630		17
	Storage swap transactions — liquids inventory (short contracts)	(1,470)		102
	Total mark to market derivatives		$	3,312

Impact of Cash Flow Hedges

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Increase (Decrease) in Midstream Revenue	2012		2011		2012		2011
Liquids realized gain (loss) included in Midstream revenue	$	456	$	(527)	$	851	$	(2,235)
Realized gains included in income from discontinued
Realized gain (loss) included in Midstream revenue	$	456	$	(527)	$	851	$	(2,235)

Derivatives Other than Cash Flow Hedges

	Maturity Periods
	Less than one year		One to two years		More than two years		Total fair value
September 30, 2012.	$	2,617	$	695	$	-	$	3,312