XML 37 R55.htm IDEA: XBRL DOCUMENT v2.4.0.8
Indebtedness (Narrative) (Details) (USD $)
12 Months Ended 12 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended
Dec. 31, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Revolving Credit Facility [Member]
Jan. 17, 2014
Revolving Credit Facility [Member]
Nov. 26, 2013
Revolving Credit Facility [Member]
Dec. 31, 2012
Revolving Credit Facility [Member]
Oct. 31, 2012
Revolving Credit Facility [Member]
May 01, 2012
Revolving Credit Facility [Member]
Feb. 14, 2011
Revolving Credit Facility [Member]
Dec. 31, 2013
Minimum [Member]
Revolving Credit Facility [Member]
Dec. 31, 2013
Maximum [Member]
Revolving Credit Facility [Member]
Dec. 31, 2011
Parent Company [Member]
Dec. 31, 2013
8.25% Senior Notes [Member]
Dec. 31, 2013
8.25% Senior Notes [Member]
Minimum [Member]
Dec. 31, 2013
8.25% Senior Notes [Member]
Maximum [Member]
Feb. 14, 2011
ASOP Acquisition [Member]
Feb. 14, 2011
ASOP Acquisition [Member]
2011 Senior Notes [Member]
Oct. 31, 2012
Hilcorp Acquisition [Member]
Oct. 31, 2012
Hilcorp Acquisition [Member]
Oct. 31, 2012
Hilcorp Acquisition [Member]
Senior Notes Due 2018 [Member]
Oct. 25, 2011
Hilcorp Acquisition [Member]
Senior Notes Due 2018 [Member]
Oct. 25, 2012
Hilcorp Acquisition [Member]
Senior Notes Due 2018 [Member]
Dec. 31, 2013
Base Rate plus margin [Member]
Minimum [Member]
Revolving Credit Facility [Member]
Dec. 31, 2013
Base Rate plus margin [Member]
Maximum [Member]
Revolving Credit Facility [Member]
Dec. 31, 2013
LIBOR plus margin [Member]
Minimum [Member]
Revolving Credit Facility [Member]
Dec. 31, 2013
LIBOR plus margin [Member]
Maximum [Member]
Revolving Credit Facility [Member]
Debt Instrument [Line Items]                                                      
Senior Notes, face amount                           $ 510,000,000       $ 210,000,000     $ 300,000,000   $ 300.0        
Senior Notes, stated percentage                           8.25%                          
Maturity date       Oct. 31, 2016                   Feb. 15, 2018                          
Net proceeds from offering of Notes                                   202,000,000     289,500,000 289,500,000          
Loss on early extinguishment of debt 2,377,000                       2,377,000                            
Purchase price of properties                                 200,700,000 200,700,000 550,000,000 550,000,000              
Acquired certain interests in producing oil and natural gas assets                                 200,700,000 200,700,000 550,000,000 550,000,000              
Line of Credit Facility, Maximum Borrowing Capacity       750,000,000       750,000,000   250,000,000                                  
Borrowing base under the expanded credit facility         475,000,000 425,000,000   425,000,000 200,000,000                                    
Line Of Credit Facility Increase To Current Borrowing Capacity         50,000,000                                            
Debt Instrument, Basis Spread on Variable Rate                                               0.75% 1.75% 1.75% 2.75%
Amounts drawn under Senior Credit Facility       130,000,000     195,000,000                                        
Senior credit facility condition       Our obligations under our Senior Credit Facility, as well as any hedging contracts and treasury management agreements with the lenders or affiliates of lenders, are secured by substantially all of our assets, including a) mortgages on at least 80% of the total value of our oil and gas properties evaluated in the most recently completed reserve report, after giving effect to exploration and production activities, acquisitions and dispositions, and b) the stock of certain wholly-owned subsidiaries.                                              
Debt redemption notice                             30 days 60 days                      
Redeemable debt, redemption percentage of principal prior to 2014                               35.00%                      
Early debt redemption notice                             30 days 60 days                      
Redeemable debt, redemption percentage prior to 2014                           108.25%                          
Redeemable debt, percentage of principal outstanding prior to 2014                             65.00%                        
Redeemable debt, redemption period after equity offering                           90 days                          
Minimum debt owned for repurchase right                           2,000                          
Minimum debt owned for repurchase right, additional increments                           1,000                          
Repurchase right, redemption percentage                           101.00%                          
Repurchase period after sale of assets                           360 days                          
Minimum proceeds from sale of assets that must be applied to senior notes                           20,000,000                          
Repurchase Percentage of Senior Notes                           100.00%                          
Commitment fees                     0.375% 0.50%                              
Line of Credit Facility Maximum Letter of Credit Capacity       20,000,000                                              
Covenant certification requirements       Our Senior Credit Facility contains customary covenants, default provisions and collateral requirements. As described in the agreement underlying our Senior Credit Facility, we must maintain, for each period for which a covenant certification is required, (a) a minimum current ratio (as defined in the agreement for our Senior Credit Facility) of 1.0 to 1.0 and (b) a maximum total debt to EBITDAX ratio of 3.5 to 1.0. We are also required to maintain a commodities hedging program that is in compliance with the requirements set forth in our Senior Credit Facility. Our Senior Credit Facility also places restrictions on the maximum estimated future production volumes that can be subject to commodity derivative instruments.                                              
Effective interest rate                           9.10%                          
Accrued interest included in purchase price   $ 15,800,000 $ 16,200,000                                       $ 4,800,000