2.2.0.25falsefalse0203 - Disclosure - Exploratory well coststruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010
USD ($)
USD ($) / shares
$Jan-01-2010_Dec-31-2010http://www.sec.gov/CIK0001358071duration2010-01-01T00:00:002010-12-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDEPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0us-gaap_CapitalizedExploratoryWellCostsAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse| 1falsefalsefalse00falsefalsefalsefalsefalse | Otherxbrli:stringItemTypestringNo definition available.falsefalse
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<div style="font-family: 'Times New Roman',Times,serif">
<div align="justify" style="font-size: 10pt; margin-top: 12pt"><b>Note C. </b><b><i>Exploratory well costs</i></b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">          The Company capitalizes exploratory well costs until a determination is made that the well has
either found proved reserves or that it is impaired. The capitalized exploratory well costs are
presented in unproved properties in the consolidated balance sheets. If the exploratory well is
determined to be impaired, the well costs are charged to expense.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">          The following table reflects the Company’s capitalized exploratory well activity during each
of the years ended December 31, 2010, 2009, and 2008:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="98%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="64%"> </td>
<td width="2%"> </td>
<td width="1%"> </td>
<td width="8%"> </td>
<td width="1%"> </td>
<td width="2%"> </td>
<td width="1%"> </td>
<td width="8%"> </td>
<td width="1%"> </td>
<td width="2%"> </td>
<td width="1%"> </td>
<td width="8%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 2px solid #000000"> </td>
</tr>
<tr valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
<td>
<div style="margin-left:20px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="11" style="border-bottom: 1px solid #000000"><b>Years Ended December 31,</b></td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td nowrap="nowrap" align="left">
<div style="margin-left:20px; text-indent:-15px"><b>(in thousands)</b>
</div></td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>2010</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>2009</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>2008</b></td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:20px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:20px; text-indent:-15px">Beginning capitalized exploratory well costs
</div></td>
<td> </td>
<td align="left">  $</td>
<td align="right">8,668</td>
<td> </td>
<td> </td>
<td align="left">  $</td>
<td align="right">25,553</td>
<td> </td>
<td> </td>
<td align="left">  $</td>
<td align="right">21,056</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Additions to exploratory well costs pending the determination of proved reserves
</div></td>
<td> </td>
<td> </td>
<td align="right">175,343</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">135,656</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">25,621</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Reclassifications due to determination of proved reserves
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(137,185</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(152,200</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(18,327</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Exploratory well costs charged to expense
</div></td>
<td> </td>
<td> </td>
<td align="right">-</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(341</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(2,797</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:20px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="3" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td nowrap="nowrap" colspan="3" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td nowrap="nowrap" colspan="3" align="right" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:20px; text-indent:-15px">Ending capitalized exploratory well costs
</div></td>
<td> </td>
<td align="left">  $</td>
<td align="right">46,826</td>
<td> </td>
<td> </td>
<td align="left">  $</td>
<td align="right">8,668</td>
<td> </td>
<td> </td>
<td align="left">  $</td>
<td align="right">25,553</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:20px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="3" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td nowrap="nowrap" colspan="3" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td nowrap="nowrap" colspan="3" align="right" style="border-top: 3px double #000000"> </td>
</tr>
<tr valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
<td>
<div style="margin-left:20px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 20pt">          The following table provides an aging at December 31, 2010 and 2009 of capitalized exploratory
well costs based on the date the drilling was completed:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="98%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="74%"> </td>
<td width="2%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="2%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="9" align="left" style="border-top: 2px solid #000000"> </td>
</tr>
<tr valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
<td>
<div style="margin-left:20px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="7" style="border-bottom: 1px solid #000000"><b>December 31,</b></td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td nowrap="nowrap" align="left">
<div style="margin-left:20px; text-indent:-15px"><b>(in thousands)</b>
</div></td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>2010</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>2009</b></td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="9" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:20px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:20px; text-indent:-15px">Wells in drilling progress
</div></td>
<td> </td>
<td align="left">  $</td>
<td align="right">19,190</td>
<td> </td>
<td> </td>
<td align="left">  $</td>
<td align="right">1,767</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:20px; text-indent:-15px">Capitalized exploratory well costs that have been capitalized for a period of one year or less
</div></td>
<td> </td>
<td> </td>
<td align="right">27,636</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">6,901</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:20px; text-indent:-15px">Capitalized exploratory well costs that have been capitalized for a period greater than one year
</div></td>
<td> </td>
<td> </td>
<td align="right">-    </td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">-    </td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:20px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="3" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td nowrap="nowrap" colspan="3" align="right" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:68px; text-indent:-15px">Total capitalized exploratory well costs
</div></td>
<td> </td>
<td align="left">  $</td>
<td align="right">46,826</td>
<td> </td>
<td> </td>
<td align="left">  $</td>
<td align="right">8,668</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:20px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="3" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td nowrap="nowrap" colspan="3" align="right" style="border-top: 3px double #000000"> </td>
</tr>
<tr valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
<td>
<div style="margin-left:20px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="9" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<!-- Folio -->
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</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif">
<div align="center" style="font-size: 15pt; margin-top: 0pt">
<b>
</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">          At December 31, 2010, the Company had 48 gross exploratory wells either drilling or waiting on
results from completion. There were 10 wells in the New Mexico Shelf area, 12 wells in Delaware
Basin area, 23 wells in the Texas Permian area and 3 wells in our other non-core areas.
</div>
</div>
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