ACQUISITIONS Acquisitions (Tables)

12 Months Ended

Dec. 31, 2013

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 crude oil and natural gas properties during 2012 and 2011:



	Year Ended December 31,
	2012		2011
	Merit		Seneca-Upshur		2003/2002-D Partnerships		2005 Partnerships
	(in thousands)

Total acquisition cost	$	304,643	$	69,618	$	29,960	$	43,015

Recognized amounts of identifiable assets acquired and liabilities assumed:
Assets acquired:
Crude oil and natural gas properties - proved	$	180,696	$	20,175	$	27,940	$	39,825
Crude oil and natural gas properties - unproved	151,428		49,100		—		—
Other assets	3,631		10,196		3,455		3,848
Total assets acquired	335,755		79,471		31,395		43,673
Liabilities assumed:
Asset retirement obligation	14,833		8,157		497		300
Other accrued expenses	9,574		—		—		—
Other liabilities	6,705		1,696		938		358
Total liabilities assumed	31,112		9,853		1,435		658
Total identifiable net assets acquired	$	304,643	$	69,618	$	29,960	$	43,015

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 2012 closing date. 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