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Acquisitions And Divestitures
9 Months Ended
Sep. 30, 2014
Acquisitions And Divestitures [Abstract]  
Acquisitions And Divestitures

(2)  ACQUISITIONS AND DIVESTITURES

 

In March 2014 and July 2014, the Company entered into several agreements to purchase approximately 380,000 net acres in northwest Colorado principally in the Niobrara formation for approximately $213 million. The Company utilized its Credit Facility to finance these acquisitions. The Company closed the acquisitions in the second and third quarters and accounted for them as asset acquisitions.  

 

In April 2013, the Company entered into a definitive purchase agreement to acquire natural gas properties located in Pennsylvania prospective for the Marcellus Shale for approximately $93 million, subject to closing conditions.  The Company utilized its previous revolving credit facility to finance the acquisition.  The Company closed on the acquisition during the second quarter of 2013 and accounted for it as an asset acquisition.