Divestitures	6 Months Ended
Jun. 30, 2011
Divestitures [Abstract]
Divestitures	Note 2 — Divestitures Appalachia Basin Sale — On December 24, 2010, the Company entered into an agreement with Magnum Hunter Resources Corporation (“MHR”) to sell certain oil and gas properties and related assets in West Virginia. The sale closed in three phases for a total of $44.6 million. The first phase closed on December 30, 2010, for $28 million, the second phase closed on January 14, 2011, for $11.7 million and the third phase closed on June 16, 2011, for $4.9 million. The amount received for the first and second phases was paid half in cash and half in MHR common stock, while the amount received for the third phase was paid entirely in cash. Of the proceeds received, $4.2 million, $1.7 million and $564,000 related to the first, second and third closings, respectively, were set aside in escrow to cover indemnities and title defects. Escrowed amounts from the first and second closing are to be released in June 2012 and are reflected in the condensed consolidated balance sheet as a component of other current assets. Escrowed amounts from the third closing are to be released in December 2012 and are reflected in the condensed consolidated balance sheet as a component of other noncurrent assets. In general, no gains or losses are recognized upon the sale or disposition of oil and gas properties unless the deferral of gains or losses would significantly alter the relationship between capitalized costs and proved reserves of oil and gas. A significant alteration generally occurs when the deferral of gains or losses will result in an amortization rate materially different from the amortization rate calculated upon recognition of gains or losses. The Company’s evaluation demonstrated that a material difference in amortization rates would occur if no gain was recognized on the three-phased sale described above. Gains of $9.9 million and $2.5 million, net of $225,000 and $2.4 million in selling costs and adjustments, were recorded in January 2011 and June 2011 related to the second and third phases of the sale. The corresponding reduction in the Company’s oil and gas full cost pool was $1.5 million for the second closing, with no reduction for the third closing.

Note 2 — Divestitures

Appalachia Basin Sale — On December 24, 2010, the Company entered into an agreement with Magnum Hunter Resources Corporation (“MHR”) to sell certain oil and gas properties and related assets in West Virginia. The sale closed in three phases for a total of $44.6 million. The first phase closed on December 30, 2010, for $28 million, the second phase closed on January 14, 2011, for $11.7 million and the third phase closed on June 16, 2011, for $4.9 million. The amount received for the first and second phases was paid half in cash and half in MHR common stock, while the amount received for the third phase was paid entirely in cash. Of the proceeds received, $4.2 million, $1.7 million and $564,000 related to the first, second and third closings, respectively, were set aside in escrow to cover indemnities and title defects. Escrowed amounts from the first and second closing are to be released in June 2012 and are reflected in the condensed consolidated balance sheet as a component of other current assets. Escrowed amounts from the third closing are to be released in December 2012 and are reflected in the condensed consolidated balance sheet as a component of other noncurrent assets.

In general, no gains or losses are recognized upon the sale or disposition of oil and gas properties unless the deferral of gains or losses would significantly alter the relationship between capitalized costs and proved reserves of oil and gas. A significant alteration generally occurs when the deferral of gains or losses will result in an amortization rate materially different from the amortization rate calculated upon recognition of gains or losses. The Company’s evaluation demonstrated that a material difference in amortization rates would occur if no gain was recognized on the three-phased sale described above. Gains of $9.9 million and $2.5 million, net of $225,000 and $2.4 million in selling costs and adjustments, were recorded in January 2011 and June 2011 related to the second and third phases of the sale. The corresponding reduction in the Company’s oil and gas full cost pool was $1.5 million for the second closing, with no reduction for the third closing.