Derivative Activities (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Activities [Abstract]

Notional Volumes Of Commodity Derivative Contracts

Commodity	Index		April 1 - Dec 31, 2014		2015		2016		2017
Oil positions:
Swaps
Hedged Volume (Bbls/d)	WTI		6,711		7,356		6,293		5,547
Average price ($/Bbls)		$	95.30	$	93.74	$	90.03	$	86.23
Hedged Volume (Bbls/d)	LLS		3,000		-		-		-
Average price ($/Bbls)		$	99.62		-		-		-
Basis
Hedged Volume (Bbls/d)	WTS/WTI		2,400		-		-		-
Average price ($/Bbls)		$	(2.10)		-		-		-
Collars
Hedged Volume (Bbls/d)	WTI		425		1,025		1,500		-
Average floor price ($/Bbls)		$	90.00	$	90.00	$	80.00		-
Average ceiling price ($/Bbls)		$	106.50	$	110.00	$	102.00		-
Natural gas positions:
Swaps
Hedged Volume (MMBtu/d)	Henry Hub		26,466		7,191		11,350		10,445
Average price ($/MMBtu)		$	6.12	$	5.34	$	4.27	$	4.47
Basis Swaps (1)
Hedged Volume (MMBtu/d)	Henry Hub		17,055		14,400		-		-
Average price ($/MMBtu)		$	(0.19)	$	(0.19)		-		-
Collars
Hedged Volume (MMBtu/d)	Henry Hub		4,955		18,000		630		595
Average floor price ($/MMBtu)		$	5.74	$	5.00	$	4.00	$	4.00
Average ceiling price ($/MMBtu)		$	7.51	$	7.48	$	5.55	$	6.15
Puts
Hedged Volume (MMBtu/d)	Henry Hub		-		420		11,350		10,445
Average price ($/MMBtu)			-	$	4.00	$	4.00	$	4.00

⁽¹⁾ Our natural gas basis swaps are used to hedge the differential between Henry Hub and various price points.

Fair Value Of Derivative Contracts

	March 31, 2014				December 31, 2013
		Asset		Liability		Asset		Liability
		Derivatives		Derivatives		Derivatives		Derivatives
Commodity contracts	$	68,244	$	10,093	$	89,616	$	7,093
Interest rate contracts		144		9,538		-		10,391
	$	68,388	$	19,631	$	89,616	$	17,484
Commodity
Current	$	19,603	$	8,130	$	27,485	$	5,651
Noncurrent		48,641		1,963		62,131		1,442
	$	68,244	$	10,093	$	89,616	$	7,093
Interest
Current	$	-	$	5,744	$	-	$	5,582
Noncurrent		144		3,794		-		4,809
	$	144	$	9,538	$	-	$	10,391
Total Derivatives
Current	$	19,603	$	13,874	$	27,485	$	11,233
Noncurrent		48,785		5,757		62,131		6,251
	$	68,388	$	19,631	$	89,616	$	17,484

Netting Of Derivative Contracts

	March 31, 2014				December 31, 2013
		Asset		Liability		Asset		Liability
		Derivatives		Derivatives		Derivatives		Derivatives
Gross derivatives	$	68,388	$	19,631	$	89,616	$	17,484
Netting		(3,509)		(3,509)		(2,960)		(2,960)
Net derivatives	$	64,879	$	16,122	$	86,656	$	14,524

Gains (Losses) Of Derivative Contacts By Statement Of Operations Location

	Three Months Ended
		March 31, 2014		March 31, 2013
Total gains (losses):
Commodity contracts (1)	$	(23,165)	$	(16,006)
Interest rate swaps (2)		(483)		(118)
Total	$	(23,648)	$	(16,124)

⁽¹⁾ Gain (loss) on commodity derivative contracts is located in other income (expense) in the consolidated statements of operations.

⁽²⁾ Gain (loss) on interest rate derivatives contracts is recorded as part of interest expense and is located in other income (expense) in the consolidated statements of operations.