2.2.0.25falsefalse0215 - Disclosure - Discontinued operationstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 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$2true0cxo_DiscontinuedOperationsAbstractcxofalsenadurationDiscontinue operations.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse| 1falsefalsefalse00falsefalsefalsefalsefalse | Otherxbrli:stringItemTypestringDiscontinue operations.falsefalse
3false0us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel| 1falsefalsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 15 - us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock-->
<div style="font-family: 'Times New Roman',Times,serif">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Note O. </b><b><i>Discontinued operations</i></b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">        In December 2010, the Company closed the sale of certain of its non-core Permian Basin assets
for cash consideration of $103.3 million. The Company recorded a gain in 2010 on the disposition of
assets in discontinued operations of approximately $29.1 million. The Company did not complete any
material divestitures during 2009 or 2008.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">        In March 2011, the Company closed the sale of certain of its Bakken assets for cash
consideration of approximately $195.9 million. The Company recorded a gain in 2011 on the disposition
of these assets in discontinued operations of approximately $142.0 million.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">        The Company has reflected the result of operations of the above divestitures as discontinued
operations, rather than as a component of continuing operations. The following table represents
the components of the Company’s discontinued operations for the years ended December 31, 2010, 2009
and 2008.
</div>
<div align="center">
<table style="font-size: 9.5pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="98%">
<!-- Begin Table Head -->
<tr style="font-size: 12pt" valign="bottom">
<td width="62%"> </td>
<td width="2%"> </td>
<td width="1%"> </td>
<td width="8%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="8%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="8%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 6px">
<td colspan="13" align="left" style="border-top: 2px solid #000000"> </td>
</tr>
<tr style="font-size: 9.5pt" 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: 9.5pt" valign="bottom">
<td nowrap="nowrap" align="left"><font style="font-size:8pt"><b>  (in thousands)</b></font></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" style="background: #cceeff">
<td>
<div style="margin-left:20px; text-indent:-15px"><b>Operating revenues:</b>
</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">
<td>
<div style="margin-left:30px; text-indent:-15px">Oil sales
</div></td>
<td> </td>
<td align="left">  $</td>
<td align="right">50,302</td>
<td> </td>
<td> </td>
<td align="left">  $</td>
<td align="right">25,870</td>
<td> </td>
<td> </td>
<td align="left">  $</td>
<td align="right">28,762</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Natural gas sales
</div></td>
<td> </td>
<td> </td>
<td align="right">7,573</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">7,810</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">12,680</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>
<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:45px; text-indent:-15px">Total operating revenues
</div></td>
<td> </td>
<td> </td>
<td align="right">57,875</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">33,680</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">41,442</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>
<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"><b>Operating costs and expenses:</b>
</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">
<td>
<div style="margin-left:30px; text-indent:-15px">Oil and natural gas production
</div></td>
<td> </td>
<td> </td>
<td align="right">14,336</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">10,451</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">10,069</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Exploration and abandonments
</div></td>
<td> </td>
<td> </td>
<td align="right">154</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">28</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">-   </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Depreciation, depletion and amortization <sup style="font-size: 85%; vertical-align: text-top">(a)</sup>
</div></td>
<td> </td>
<td> </td>
<td align="right">15,669</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">14,254</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">10,244</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Accretion of discount on asset retirement obligations <sup style="font-size: 85%; vertical-align: text-top">(a)</sup>
</div></td>
<td> </td>
<td> </td>
<td align="right">232</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">149</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">130</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Impairments of long-lived assets <sup style="font-size: 85%; vertical-align: text-top">(a)</sup>
</div></td>
<td> </td>
<td> </td>
<td align="right">3,567</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">4,317</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">10,035</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">General and administrative <sup style="font-size: 85%; vertical-align: text-top">(b)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(985</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(886</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(354</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">
<td>
<div style="margin-left:45px; text-indent:-15px">Total operating costs and expenses
</div></td>
<td> </td>
<td> </td>
<td align="right">32,973</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">28,313</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">30,124</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>
<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"><b>Income from discontinued operations</b>
</div></td>
<td> </td>
<td> </td>
<td align="right">24,902</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">5,367</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">11,318</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:20px; text-indent:-15px"><b>Other income (expense):</b>
</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:30px; text-indent:-15px">Gain on disposition of assets, net <sup style="font-size: 85%; vertical-align: text-top">(a)</sup>
</div></td>
<td> </td>
<td> </td>
<td align="right">29,147</td>
<td> </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>
<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:20px; text-indent:-15px"><b>Income from discontinued operations before income taxes</b>
</div></td>
<td> </td>
<td> </td>
<td align="right">54,049</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">5,367</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">11,318</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>
<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"><b>Income tax benefit (expense):</b>
</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">
<td>
<div style="margin-left:30px; text-indent:-15px">Current
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(5,146</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">1,672</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(3,975</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Deferred <sup style="font-size: 85%; vertical-align: text-top">(a)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(15,181</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(3,529</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">15</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>
<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:20px; text-indent:-15px"><b>Income from discontinued operations, net of tax</b>
</div></td>
<td> </td>
<td align="left">  $</td>
<td align="right">33,722</td>
<td> </td>
<td> </td>
<td align="left">  $</td>
<td align="right">3,510</td>
<td> </td>
<td> </td>
<td align="left">  $</td>
<td align="right">7,358</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: 3pt"><!-- 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="center" style="margin-top: 3pt">
<table width="98%" border="0" cellpadding="0" cellspacing="0" style="font-size: 9.5pt; text-align: left">
<tr>
<td width="1%"></td>
<td width="1%"></td>
<td width="98%"></td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left"> (a)</td>
<td> </td>
<td>
<div style="text-align: justify">Represents the significant noncash components of discontinued operations.
</div></td>
</tr>
<tr style="font-size: 3pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left"> (b)</td>
<td> </td>
<td>
<div style="text-align: justify">Represents the fees received from third-parties for operating oil and natural gas properties
that were sold. The Company reflects these fees as a reduction of general and administrative
expenses.
</div></td>
</tr>
<tr style="font-size: 10px">
<td colspan="3" align="left" style="border-bottom: 1px solid #000000"> </td>
</tr>
</table>
</div>
<!-- Folio -->
<!-- /Folio -->
</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>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Notefalsefalsefalsefalsefalse | Otherus-types:textBlockItemTypestringDisclosure includes the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain or loss recognized in the income statement and the income statement caption that includes that gain or loss, amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43-48
falsefalse
12Discontinued operationsUnKnownUnKnownUnKnownUnKnownfalsetrue