Discontinued Operations

12 Months Ended

Dec. 31, 2011

Discontinued Operations [Abstract]

DISCONTINUED OPERATIONS

(4) DISCONTINUED OPERATIONS

The following table represents the components of our Barnett Shale operations as discontinued operations for the years ended December 31, 2011, 2010 and 2009 (in thousands).

	Year Ended December 31,
	2011		2010			2009
Revenues and other income:
Natural gas, NGL and oil sales	$	59,185	$	157,778		$	139,357
Transportation and gathering		6		35			—
Gain on the sale of assets		4,771		955			—
Other		4		32			3
Total revenues and other income		63,966		158,800			139,360
Costs and expenses:
Direct operating		10,080		35,328			34,960
Transportation, gathering and compression		5,257		8,624			14,000
Production and ad valorem taxes		1,309		7,545			6,633
Exploration		37		581			2,209
Abandonment and impairment of unproved properties		—		20,233			76,603
Interest expense (a)		14,791		40,527			42,106
Depletion, depreciation and amortization		8,894		88,269			106,354
Impairment of proved properties		—		463,244			—
Total costs and expenses		40,368		664,351			282,865
Income (loss) before income taxes		23,598		(505,551	)		(143,505	)
Income tax expense (benefit)
Current		—		—			—
Deferred		8,278		(177,597	)		(50,655	)
		8,278		(177,597	)		(50,655	)
Net income (loss) from discontinued operations	$	15,320	$	(327,954	)	$	(92,850	)

^(a)  Interest expense is allocated to discontinued operations based on the ratio of net assets of discontinued operations to our consolidated net assets plus long-term debt.

The carrying values of our Barnett operations were included in discontinued operations in the accompanying consolidated balance sheets, which is comprised of the following (in thousands):

	December 31,
	2011		2010
Composition of assets of discontinued operations:
Natural gas properties and oil properties, net	$	—	$	838,044
Transportation and field assets, net		—		684
Accounts receivable		—		30,575
Unrealized derivative gain		—		8,195
Inventory and other		—		81
Total current assets of discontinued operations	$	—	$	877,579
Composition of liabilities of discontinued operations:
Accounts payable	$	—	$	23,366
Accrued liabilities		653		10,871
Asset retirement obligations		—		—
Total current liabilities of discontinued operations	$	653	$	34,237
Asset retirement obligations	$	—	$	1,980
Other liabilities		—		1,921
Total long-term liabilities of discontinued operations	$	—	$	3,901