ACQUISITIONS Acquisitions (Tables)

12 Months Ended

Dec. 31, 2012

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table presents the adjusted purchase price and the allocations thereof, based on our estimates of fair value, for the acquisition of natural gas and crude oil properties during 2012, 2011 and 2010:

	Year Ended December 31,
	2012		2011						2010
	Merit (1)		Seneca-Upshur		2003/2002-D Partnerships		2005 Partnerships		Permian		2004 Partnerships
	(in thousands)
Total acquisition cost	$	304,643	$	69,618	$	29,960	$	43,015	$	114,273	$	34,768
Recognized amounts of identifiable assets acquired and liabilities assumed:
Assets acquired:
Natural gas and crude oil properties - proved	$	180,259	$	20,175	$	27,940	$	39,825	$	45,592	$	32,730
Natural gas and crude oil properties - unproved	151,428		49,100		—		—		71,647		—
Other assets	3,631		10,196		3,455		3,848		—		3,396
Total assets acquired	335,318		79,471		31,395		43,673		117,239		36,126
Liabilities assumed:
Asset retirement obligation	13,870		8,157		497		300		2,351		912
Other accrued expenses	10,100		—		—		—		615		126
Other liabilities	6,705		1,696		938		358		—		320
Total liabilities assumed	30,675		9,853		1,435		658		2,966		1,358
Total identifiable net assets acquired	$	304,643	$	69,618	$	29,960	$	43,015	$	114,273	$	34,768

___________

(1) Assets acquired and liabilities assumed in the Merit Acquisition are subject to post-closing adjustments as more detailed analyses are completed and additional information is obtained about the acquired natural gas and crude oil properties.

Business Acquisition, Pro Forma Information [Table Text Block]

Pro Forma Information. The results of operations for the Merit Acquisition have been included in our consolidated financial statements since the June 29, 2012 closing date, including approximately $11.4 million of total revenue and $9.5 million of income from operations. The following unaudited pro forma financial information presents a summary of the consolidated results of operations for the years ended December 31, 2012 and December 31, 2011, assuming the Merit Acquisition had been completed as of January 1, 2011, including adjustments to reflect the values assigned to the net assets acquired. The pro forma financial information is not necessarily indicative of the results of operations that would have been achieved if the Merit Acquisition had been effective as of these dates, or of future results.

	Year Ended December 31,
	2012			2011
	(in thousands, except per share amounts)
Total revenues	$	370,488		$	438,204
Total costs, expenses and other	521,178			366,120
Net income (loss)	$	(119,343	)	$	45,688
Earnings per share:
Basic	$	(4.31	)	$	1.94
Diluted	$	(4.31	)	$	1.91