Related Party Transactions

3 Months Ended

Mar. 31, 2012

Related Party Transactions [Abstract]

Related Party Transactions

Related party transactions

Chesapeake Holdings Corporation, an indirect wholly owned subsidiary of Chesapeake Energy Corporation (“Chesapeake”), owns approximately 20% of our outstanding common stock. We participate in ownership of properties operated by Chesapeake, and we received revenues and incurred joint interest billings on these properties as follows:

	Three months ended March 31,
	2012			2011
Revenues	$	945		$	1,277
Joint interest billings	$	(472	)	$	(258	)

In addition, Chesapeake participates in ownership of properties operated by us, and we paid revenues and recorded joint interest billings to Chesapeake on these properties as follows:

	Three months ended March 31,
	2012			2011
Revenues	$	(623	)	$	(461	)
Joint interest billings	$	1,537		$	1,766

Amounts receivable from and payable to Chesapeake at March 31, 2012 and December 31, 2011 were as follows:

	March 31, 2012		December 31, 2011
Amounts receivable from Chesapeake	$	982	$	223
Amounts payable to Chesapeake	$	177	$	207