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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2012
Fair Value Measurements [Abstract]  
Assets and liabilities measured at Fair Value on Recurring basis
                                 
    Level 1     Level 2     Level 3     Total Net Fair
Value
 

At December 31, 2011

                               

Equity investment

  $ 11,601     $ 1,393     $ —       $ 12,994  

Derivative financial instruments — assets

    —         72,319       —         72,319  

Derivative financial instruments — liabilities

    —         (9,834 )      —         (9,834 ) 
   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $ 11,601     $ 63,878     $ —       $ 75,479  
   

 

 

   

 

 

   

 

 

   

 

 

 

At June 30, 2012

                               

Equity investment

  $ 9,352     $ 1,119     $ —       $ 10,471  

Derivative financial instruments — assets

    —         51,594       —         51,594  

Derivative financial instruments — liabilities

    —         (8,423 )      —         (8,423 ) 
   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $ 9,352     $ 44,290     $ —       $ 53,642  
   

 

 

   

 

 

   

 

 

   

 

 

 
Reconciliation of changes in Fair Value of risk management assets and liabilities
         
    Six Months Ended
June  30, 2011
 

Balance at beginning of period

  $ (9,853 ) 

Realized and unrealized gains included in earnings

    (2,025 ) 

Transfers out of Level 3 (1)

    9,949  

Settlements

    1,929  
   

 

 

 

Balance at end of period

  $ —    
   

 

 

 

 

(1) Availability of market based information allowed the Company to reclassify all if its swap contracts tied to Southern Star prices from Level 3 to Level 2 during the second quarter of 2011.