Derivatives and Risk Management (Tables)

9 Months Ended

Sep. 30, 2012

Derivatives And Risk Management [Abstract]

Balance Sheet Classification of Derivative Financial Instruments

	Derivative Assets
	September 30, 2012			December 31, 2011
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
	(in thousands)
Derivatives designated as hedging instruments:
Fixed and floating price swaps	Hedging asset	$	254,358	Hedging asset	$	333,479
Costless-collars	Hedging asset		43,984	Hedging asset		179,080
Fixed and floating price swaps	Other assets		48,252	Other assets		201,081
Total derivatives designated as hedging instruments		$	346,594		$	713,640
Derivatives not designated as hedging instruments:
Basis swaps	Hedging asset	$	2,519	Hedging asset	$	1,906
Basis swaps	Other assets		696	Other assets		1,797
Total derivatives not designated as hedging instruments		$	3,215		$	3,703
Total derivative assets		$	349,809		$	717,343
	Derivative Liabilities
	September 30, 2012			December 31, 2011
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
	(in thousands)
Derivatives designated as hedging instruments:
Fixed and floating price swaps	Other current liabilities	$	1,818	Other current liabilities	$	11,849
Costless-collars	Other current liabilities		–	Other current liabilities		209
Total derivatives designated as hedging instruments		$	1,818		$	12,058
Derivatives not designated as hedging instruments:
Basis swaps	Other current liabilities	$	223	Other current liabilities	$	400
Basis swaps	Other long-term liabilities		15	Other long-term liabilities		55
Total derivatives not designated as hedging instruments		$	238		$	455
Total derivative liabilities		$	2,056		$	12,513

Cash Flow Hedges, Volumes of Natural Gas Production (in Bcf)

Year	Fixed price swaps	Costless-collars
2012	46.7	20.2
2013	185.6	–

Before Tax Effect of Cash Flow Hedges on Consolidated Financial Statements

		Gain (Loss) Recognized in Other Comprehensive Income
		(Effective Portion)
		For the three months ended				For the nine months ended
		September 30,				September 30,
Derivative Instrument		2012		2011		2012		2011
		(in thousands)
Fixed price swaps		$	(55,039)	$	230,783	$	116,089	$	360,362
Costless-collars		$	(3,497)	$	48,315	$	40,644	$	65,144
	Classification of Gain	Gain Reclassified from Accumulated Other Comprehensive
	Reclassified from	Income into Earnings
	Accumulated Other	(Effective Portion)
	Comprehensive Income	For the three months ended				For the nine months ended
	into Earnings	September 30,				September 30,
Derivative Instrument	(Effective Portion)	2012		2011		2012		2011
		(in thousands)
Fixed price swaps	Gas Sales	$	102,789	$	67,125	$	337,994	$	145,662
Costless-collars	Gas Sales	$	54,489	$	13,918	$	175,531	$	40,978
		Gain (Loss) Recognized in Earnings
		(Ineffective Portion)
	Classification of Gain (Loss)		For the three months ended			For the nine months ended
	Recognized in Earnings	September 30,				September 30,
Derivative Instrument	(Ineffective Portion)	2012		2011		2012		2011
			(in thousands)
Fixed price swaps	Gas Sales	$	(165)	$	(1,754)	$	1,831	$	(755)
Costless-collars	Gas Sales	$	(373)	$	(826)	$	167	$	252

Before Tax Effect of Basis Swaps Not Qualifying for Hedge Accounting

		Unrealized Loss
		Recognized in Earnings
	Income Statement	For the three months ended				For the nine months ended
	Classification	September 30,				September 30,
Derivative Instrument	of Unrealized Loss	2012		2011		2012		2011
		(in thousands)
Basis swaps	Gas Sales	$	(1,275)	$	(1,967)	$	(270)	$	(159)
		Realized Gain (Loss)
		Recognized in Earnings
	Income Statement	For the three months ended				For the nine months ended
	Classification	September 30,				September 30,
Derivative Instrument	of Realized Gain (Loss)	2012		2011		2012		2011
		(in thousands)
Basis swaps	Gas Sales	$	624	$	(22)	$	1,773	$	(2,377)