Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2011

Carrying Amount and Estimated Fair Values of Financial Instruments


	December 31, 2011		December 31, 2010
	Carrying	Fair	Carrying	Fair
	Amount	Value	Amount	Value
	(in thousands)

Cash and cash equivalents	$ 15,627	$ 15,627	$ 16,055	$ 16,055
Unsecured revolving credit facility	$ 671,500	$ 671,500	$ 421,200	$ 421,200
Senior notes	$ 671,800	$ 773,578	$ 673,000	$ 761,372
Derivative instruments, net	$ 704,830	$ 704,830	$ 160,452	$ 160,452

Summary Assets and Liabilities Measured at Fair Value on Recurring Basis


	December 31, 2011

	Fair Value Measurements Using:
	Quoted Prices	Significant
	in Active	Other	Significant
	Markets	Observable Inputs	Unobservable Inputs	Assets (Liabilities)
	(Level 1)	(Level 2)	(Level 3)	at Fair Value
Derivative assets	$ 0	$ 534,560	$ 182,783	$ 717,343
Derivative liabilities	0	(11,849)	(664)	(12,513)
Total	$ 0	$ 522,711	$ 182,119	$ 704,830

	December 31, 2010

	Fair Value Measurements Using:
	Quoted Prices	Significant
	in Active	Other	Significant
	Markets	Observable Inputs	Unobservable Inputs	Assets (Liabilities)
	(Level 1)	(Level 2)	(Level 3)	at Fair Value
Derivative assets	$ 0	$ 86,883	$ 121,442	$ 208,325
Derivative liabilities	0	(24,108)	(23,765)	(47,873)
Total	$ 0	$ 62,775	$ 97,677	$ 160,452

Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3), Reconciliation


	For the years ended December 31,
	2011	2010
	(in thousands)

Balance at beginning of period	$ 97,677	$ 24,720
Total gains or losses (realized/unrealized):
Included in earnings	67,998	68,111
Included in other comprehensive income	79,215	63,522
Purchases, issuances and settlements
Purchases	—	—
Issuances	—	—
Settlements	(62,913)	(58,676)
Transfers into/out of Level 3	142	—
Balance at end of period	$ 182,119	$ 97,677
Change in unrealized gain (loss) included in earnings relating to derivatives still held as of December 31	$ 5,085	$ 9,435

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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