Derivatives and Risk Management (Tables)

6 Months Ended

Jun. 30, 2012

Derivatives And Risk Management [Abstract]

Balance Sheet Classification of Derivative Financial Instruments

	Derivative Assets
	June 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	$	338,499	Hedging asset	$	333,479
Costless-collars	Hedging asset		101,975	Hedging asset		179,080
Fixed and floating price swaps	Other assets		127,072	Other assets		201,081
Total derivatives designated as hedging instruments		$	567,546		$	713,640
Derivatives not designated as hedging instruments:
Basis swaps	Hedging asset	$	2,987	Hedging asset	$	1,906
Basis swaps	Other assets		1,429	Other assets		1,797
Total derivatives not designated as hedging instruments		$	4,416		$	3,703
Total derivative assets		$	571,962		$	717,343
	Derivative Liabilities
	June 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	$	7,086	Other current liabilities	$	11,849
Costless-collars	Other current liabilities		5	Other current liabilities		209
Total derivatives designated as hedging instruments		$	7,091		$	12,058
Derivatives not designated as hedging instruments:
Basis swaps	Other current liabilities	$	104	Other current liabilities	$	400
Basis swaps	Other long-term liabilities		60	Other long-term liabilities		55
Total derivatives not designated as hedging instruments		$	164		$	455
Total derivative liabilities		$	7,255		$	12,513

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

Year	Fixed price swaps	Costless-collars
2012	93.2	40.5
2013	185.4	–

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 six months ended
		June 30,				June 30,
Derivative Instrument		2012		2011		2012		2011
		(in thousands)
Fixed price swaps		$	(47,829)	$	120,510	$	171,128	$	129,579
Costless-collars		$	(12,370)	$	14,875	$	44,141	$	16,829
	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 six months ended
	into Earnings	June 30,				June 30,
Derivative Instrument	(Effective Portion)	2012		2011		2012		2011
		(in thousands)
Fixed price swaps	Gas Sales	$	128,894	$	41,736	$	235,205	$	78,537
Costless-collars	Gas Sales	$	65,732	$	11,962	$	121,042	$	27,060
		Gain (Loss) Recognized in Earnings
		(Ineffective Portion)
	Classification of Gain (Loss)	For the three months ended				For the six months ended
	Recognized in Earnings	June 30,				June 30,
Derivative Instrument	(Ineffective Portion)	2012		2011		2012		2011
			(in thousands)
Fixed price swaps	Gas Sales	$	(2,303)	$	3,066	$	1,996	$	999
Costless-collars	Gas Sales	$	(371)	$	(1,083)	$	540	$	1,078

Before Tax Effect of Basis Swaps Not Qualifying for Hedge Accounting

		Unrealized Gain (Loss)
		Recognized in Earnings
	Income Statement	For the three months ended				For the six months ended
	Classification	June 30,				June 30,
Derivative Instrument	of Unrealized Gain (Loss)	2012		2011		2012		2011
		(in thousands)
Basis swaps	Gas Sales	$	(218)	$	902	$	1,005	$	1,808
		Realized Gain (Loss)
		Recognized in Earnings
	Income Statement	For the three months ended				For the six months ended
	Classification	June 30,				June 30,
Derivative Instrument	of Realized Gain (Loss)	2012		2011		2012		2011
		(in thousands)
Basis swaps	Gas Sales	$	131	$	(99)	$	1,149	$	(2,355)