Derivatives and Risk Management (Tables)

3 Months Ended

Mar. 31, 2013

Derivatives And Risk Management [Abstract]

Balance Sheet Classification of Derivative Financial Instruments

	Derivative Assets
	March 31, 2013			December 31, 2012
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
	(in thousands)
Derivatives designated as hedging instruments:
Fixed price swaps	Hedging asset	$	131,091	Hedging asset	$	279,443
Fixed price swaps	Other assets		4,378	Other assets		8,550
Total derivatives designated as hedging instruments		$	135,469		$	287,993
Derivatives not designated as hedging instruments:
Basis swaps	Hedging asset	$	936	Hedging asset	$	3,250
Fixed price swaps	Hedging asset		985	Hedging asset		–
Basis swaps	Other assets		464	Other assets		901
Fixed price swaps	Other assets		29,507	Other assets		–
Total derivatives not designated as hedging instruments		$	31,892		$	4,151
Total derivative assets		$	167,361		$	292,144
	Derivative Liabilities
	March 31, 2013			December 31, 2012
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
	(in thousands)
Derivatives not designated as hedging instruments:
Basis swaps	Other current liabilities	$	337	Other current liabilities	$	138
Fixed price swaps	Other current liabilities		436	Other current liabilities		–
Basis swaps	Other long-term liabilities		–	Other long-term liabilities		–
Fixed price call options	Other long-term liabilities		61,210	Other long-term liabilities		4,128
Fixed price swaps	Other long-term liabilities		824	Other long-term liabilities		–
Total derivatives not designated as hedging instruments		$	62,807		$	4,266
Total derivative liabilities		$	62,807		$	4,266

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

Year	Fixed price swaps
2013	139.6
2014	18.3

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
		March 31,
Derivative Instrument		2013		2012
		(in thousands)
Fixed price swaps		$	(73,902)	$	218,957
Costless-collars		$	–	$	56,511
	Classification of Gain	Gain Reclassified from Accumulated Other
	Reclassified from	Comprehensive Income into Earnings
	Accumulated Other	(Effective Portion)
	Comprehensive Income	For the three months ended
	into Earnings	March 31,
Derivative Instrument	(Effective Portion)	2013		2012
		(in thousands)
Fixed price swaps	Gas Sales	$	78,621	$	106,311
Costless-collars	Gas Sales	$	–	$	55,310
		Gain Recognized in Earnings
		(Ineffective Portion)
	Classification of Gain	For the three months ended
	Recognized in Earnings	March 31,
Derivative Instrument	(Ineffective Portion)	2013		2012
		(in thousands)
Fixed price swaps	Gas Sales	$	1,301	$	4,299
Costless-collars	Gas Sales	$	–	$	911

Before Tax Effect of Basis Swaps Not Qualifying for Hedge Accounting

		Unrealized Gain (Loss)
		Recognized in Earnings
	Income Statement	For the three months ended
	Classification	March 31,
Derivative Instrument	of Unrealized Gain (Loss)	2013		2012
		(in thousands)
Basis swaps	Commodity Derivative Income (Loss)	$	(2,950)	$	1,223
Fixed price call options	Commodity Derivative Income (Loss)	$	(57,082)	$	–
Fixed price swaps	Commodity Derivative Income (Loss)	$	29,232	$	–
		Realized Gain
		Recognized in Earnings
	Income Statement	For the three months ended
	Classification	March 31,
Derivative Instrument	of Realized Gain	2013		2012
		(in thousands)
Basis swaps	Commodity Derivative Income (Loss)	$	1,007	$	1,018