Dispositions	9 Months Ended
Sep. 30, 2011
Business Combinations [Abstract]
DISPOSITIONS	(4) DISPOSITIONS 2011 Asset Sales In February 2011, we entered into an agreement to sell substantially all of our Barnett Shale properties located in North Central Texas (Dallas, Denton, Ellis, Hill, Hood, Johnson, Parker, Tarrant and Wise Counties), which also included the assumption of certain derivative contracts by the buyer and was subject to normal post-closing adjustments. We closed substantially all of this sale in April 2011 and closed the remainder in August 2011. The gross cash proceeds were approximately $889.3 million, including the derivative contracts assumed. The agreements had a February 1, 2011 effective date and consequently operating net revenues after February 1, 2011 were a downward adjustment to the sales price. We recorded a pretax gain of $4.9 million in discontinued operations related to this sale. In the accompanying December 31, 2010 balance sheet, we have classified these assets and liabilities as discontinued operations. As indicated in Notes 2 and 5, the historic results of our Barnett Shale operations are presented as discontinued operations. As part of the sale of our Barnett Shale properties, certain derivative contracts were assumed by the buyer. This resulted in a loss of $1.7 million in second quarter 2011 which is included in continuing operations. As required by cash flow hedge accounting rules, a $9.4 million pretax gain related to these hedges is included in accumulated other comprehensive income at September 30, 2011 and will be recognized in earnings during the remainder of 2011 as the hedged production occurs. The hedges assumed by the buyer as part of the sale were not designated to our Barnett Shale production and were sold to balance our volumes hedged. In third quarter 2011, we sold various producing properties located in East Texas for proceeds of $11.0 million. We recognized an impairment of $31.2 million related to the sale of these properties. For additional information on this impairment, see Note 13. Also in third quarter 2011, we sold producing properties in Pennsylvania for proceeds of $6.0 million, with no gain or loss recognized, as the sale did not materially impact the depletion rate of the remaining properties in the amortization base. 2010 Asset Sales In February 2010, we entered into an agreement to sell our tight gas sand properties in Ohio. We closed approximately 90% of the sale in March 2010 and closed the remainder in June 2010. Total proceeds were approximately $323.0 million and we recorded a gain of $77.4 million in continuing operations. The agreement had an effective date of January 1, 2010, and consequently operating net revenues after January 1, 2010 were a downward adjustment to the sales price. The proceeds we received were placed in a like-kind exchange account and in June 2010, we used a portion of the proceeds to purchase proved and unproved natural gas properties in Virginia. In September 2010, the like-kind exchange account was closed and the balance of these proceeds (approximately $135.0 million) was used to repay amounts outstanding under our bank credit facility.

(4) DISPOSITIONS

2011 Asset Sales

In February 2011, we entered into an agreement to sell substantially all of our Barnett Shale properties located in North Central Texas (Dallas, Denton, Ellis, Hill, Hood, Johnson, Parker, Tarrant and Wise Counties), which also included the assumption of certain derivative contracts by the buyer and was subject to normal post-closing adjustments. We closed substantially all of this sale in April 2011 and closed the remainder in August 2011. The gross cash proceeds were approximately $889.3 million, including the derivative contracts assumed. The agreements had a February 1, 2011 effective date and consequently operating net revenues after February 1, 2011 were a downward adjustment to the sales price. We recorded a pretax gain of $4.9 million in discontinued operations related to this sale. In the accompanying December 31, 2010 balance sheet, we have classified these assets and liabilities as discontinued operations. As indicated in Notes 2 and 5, the historic results of our Barnett Shale operations are presented as discontinued operations.

As part of the sale of our Barnett Shale properties, certain derivative contracts were assumed by the buyer. This resulted in a loss of $1.7 million in second quarter 2011 which is included in continuing operations. As required by cash flow hedge accounting rules, a $9.4 million pretax gain related to these hedges is included in accumulated other comprehensive income at September 30, 2011 and will be recognized in earnings during the remainder of 2011 as the hedged production occurs. The hedges assumed by the buyer as part of the sale were not designated to our Barnett Shale production and were sold to balance our volumes hedged.

In third quarter 2011, we sold various producing properties located in East Texas for proceeds of $11.0 million. We recognized an impairment of $31.2 million related to the sale of these properties. For additional information on this impairment, see Note 13. Also in third quarter 2011, we sold producing properties in Pennsylvania for proceeds of $6.0 million, with no gain or loss recognized, as the sale did not materially impact the depletion rate of the remaining properties in the amortization base.

2010 Asset Sales

In February 2010, we entered into an agreement to sell our tight gas sand properties in Ohio. We closed approximately 90% of the sale in March 2010 and closed the remainder in June 2010. Total proceeds were approximately $323.0 million and we recorded a gain of $77.4 million in continuing operations. The agreement had an effective date of January 1, 2010, and consequently operating net revenues after January 1, 2010 were a downward adjustment to the sales price. The proceeds we received were placed in a like-kind exchange account and in June 2010, we used a portion of the proceeds to purchase proved and unproved natural gas properties in Virginia. In September 2010, the like-kind exchange account was closed and the balance of these proceeds (approximately $135.0 million) was used to repay amounts outstanding under our bank credit facility.