XML 48 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
Summary of Significant Accounting Policies (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Jul. 15, 2014
Dec. 31, 2013
Property and Equipment            
Proved oil and gas properties $ 5,755,886   $ 5,755,886     $ 5,600,279
Unproved oil and gas properties 65,767   65,767     71,452
Furniture, fixtures, and other equipment 41,997   41,997     42,368
Less - Accumulated depreciation, depletion, and amortization (3,326,908)   (3,326,908)     (3,125,282)
Property and Equipment, Net 2,536,742   2,536,742     2,588,817
Accounts Payable and Accrued Liabilities            
Trade accounts payable 25,624 [1]   25,624 [1]     30,769 [1]
Accrued operating expenses 14,451   14,451     16,016
Accrued payroll costs 11,212   11,212     10,938
Asset retirement obligation - current portion 13,292   13,292     15,859
Accrued taxes 9,626   9,626     5,845
Deferred liability 22,685 [2]   22,685 [2]   12,500 0 [2]
Other payables 3,603   3,603     2,891
Total accounts payable and accrued liabilities 100,493   100,493     82,318
Roll-forward of our asset retirement obligation            
Asset Retirement Obligation recorded as of January 1     79,084      
Accretion expense 1,445 1,478 4,246 4,732    
Liabilities incurred for new wells and facilities construction     470      
Reductions due to sold and abandoned wells     (2,914)      
Revisions in estimates     (439)      
Asset Retirement Obligation $ 80,447   $ 80,447      
Year 2014 [Member] | Natural Gas Derivative Contract [Member] | Swap [Member]
           
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Future Gas Production Hedged in MMBTU (Energy Item Type) 3,330,000   3,330,000      
Derivative, Swap Type, Average Fixed Price 4.32   4.32      
Year 2014 [Member] | Natural Gas Derivative Contract [Member] | Collar [Member]
           
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Future Gas Production Hedged in MMBTU (Energy Item Type) 1,035,000   1,035,000      
Derivative, Average Floor Price 4.15   4.15      
Derivative, Average Cap Price 4.55   4.55      
Year 2014 [Member] | Natural Gas Basis Derivative Contract [Member] | Basis Swap [Member]
           
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Future Gas Production Hedged in MMBTU (Energy Item Type) 4,200,000   4,200,000      
Derivative, Swap Type, Average Fixed Price (0.11)   (0.11)      
Year 2015 [Member] | Natural Gas Derivative Contract [Member] | Swap [Member]
           
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Future Gas Production Hedged in MMBTU (Energy Item Type) 900,000   900,000      
Derivative, Swap Type, Average Fixed Price 4.42   4.42      
Year 2015 [Member] | Natural Gas Basis Derivative Contract [Member] | Basis Swap [Member]
           
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Future Gas Production Hedged in MMBTU (Energy Item Type) 8,200,000   8,200,000      
Derivative, Swap Type, Average Fixed Price (0.02)   (0.02)      
[1] Included in “trade accounts payable” are liabilities of approximately $9.6 million and $26.1 million at September 30, 2014 and December 31, 2013, respectively, for outstanding checks.
[2] This amount equals the liability related to funds received from Saka Energi that are maintained in a restricted cash account. Refer to the "Short-Term Restricted Cash" discussion below for further information.