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Indonesia
6 Months Ended
Jun. 30, 2011
Indonesia [Abstract]  
Indonesia
Note 10 — Indonesia
     On January 5, 2011, we exercised our first refusal right to a proposed transfer of interest by the operator to a third party, which allowed us to acquire an additional 10 percent equity interest in the Budong PSC at a cost of $3.7 million. Closing of this acquisition, which is subject to the approval of the Government of Indonesia and BPMIGAS, increased our interest in the Budong PSC to 64.4 percent. The $3.7 million was paid on April 18, 2011.
     During the initial exploration period, the Budong PSC covered 1.35 million acres. The Budong PSC includes a ten-year exploration period and a 20-year development phase. Pursuant to the terms of the Budong PSC, at the end of the first three-year exploration phase, 45 percent of the original area was to be relinquished to BPMIGAS. In January 2010, 35 percent of the original area was relinquished and ten percent of the required relinquishment was deferred until 2011. On January 20, 2011, the deferred ten percent of the original total contract area was relinquished to BPMIGAS. The Budong PSC now covers 0.75 million acres.
     See Note 2 — Summary of Significant Accounting Policies — Suspended Exploratory Drilling Costs, Budong PSC for a status of the LG-1 exploratory drilling costs. The Budong PSC represents $26.5 million and $10.9 million of unproved oil and gas properties on our June 30, 2011 and December 31, 2010 balance sheets, respectively.