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Derivatives (Tables)
12 Months Ended
Dec. 31, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of information concerning the entity's net positions in open commodity derivatives
The following summarizes information concerning our net positions in open commodity derivatives applicable to periods subsequent to December 31, 2012.  The settlement prices of commodity derivatives are based on NYMEX futures prices.
 
Swaps
 
 
Oil
 
Gas
 
Bbls
 
Price
 
MMBtu (a)
 
Price
Production Period:
 

 
 

 
 

 
 

1st Quarter 2013
665,000

 
$
93.70

 
400,000

 
$
3.34

2nd Quarter 2013
648,000

 
$
93.94

 
390,000

 
$
3.34

3rd Quarter 2013
300,000

 
$
104.60

 
360,000

 
$
3.34

4th Quarter 2013
300,000

 
$
104.60

 
330,000

 
$
3.34

2014
600,000

 
$
99.30

 

 
$

 
2,513,000

 
 

 
1,480,000

 
 

 
 
 
 
 
 
 
 
    
(a)
One MMBtu equals one Mcf at a Btu factor of 1,000.
Schedule of effect of derivative instruments on the consolidated balance sheet
Effect of Derivative Instruments on the Consolidated Balance Sheets
 
 
Fair Value of Derivative Instruments as of December 31, 2012
 
Asset Derivatives
 
Liability Derivatives
 
Balance Sheet
 
 
 
Balance Sheet
 
 
 
Location
 
Fair Value
 
Location
 
Fair Value
 
 
 
(In thousands)
 
 
 
(In thousands)
Derivatives not designated as hedging instruments:
 
 
 

 
 
 
 

Commodity derivatives
Fair value of derivatives:
 
 

 
Fair value of derivatives:
 
 

 
Current
 
$
7,495

 
Current
 
$

 
Non-current
 
4,236

 
Non-current
 

Total
 
 
$
11,731

 
 
 
$

 
 
Fair Value of Derivative Instruments as of December 31, 2011
 
Asset Derivatives
 
Liability Derivatives
 
Balance Sheet
 
 
 
Balance Sheet
 
 
 
Location
 
Fair Value
 
Location
 
Fair Value
 
 
 
(In thousands)
 
 
 
(In thousands)
Derivatives not designated as hedging instruments:
 
 
 

 
 
 
 

Commodity derivatives
Fair value of derivatives:
 
 

 
Fair value of derivatives:
 
 

 
Current
 
$

 
Current
 
$
5,633

 
Non-current
 

 
Non-current
 
494

Total
 
 
$

 
 
 
$
6,127

Schedule of gross to net presentation reconciliation of derivative assets and liabilities
Gross to Net Presentation Reconciliation of Derivative Assets and Liabilities
 
 
December 31, 2012
 
Assets
 
Liabilities
 
(In thousands)
Fair value of derivatives — gross presentation
$
17,851

 
$
6,120

Effects of netting arrangements
(6,120
)
 
(6,120
)
Fair value of derivatives — net presentation
$
11,731

 
$


 
December 31, 2011
 
Assets
 
Liabilities
 
(In thousands)
Fair value of derivatives — gross presentation
$
26

 
$
6,153

Effects of netting arrangements
(26
)
 
(26
)
Fair value of derivatives — net presentation
$

 
$
6,127

Schedule of effect of derivative instruments on the consolidated statement of operations and Comprehensive Income (Loss)
Effect of Derivative Instruments Recognized in Earnings on the Consolidated Statements of Operations and Comprehensive Income (Loss)
 
 
 
Amount of Gain or (Loss) Recognized in Earnings
 
 
Year Ended December 31, 2012
Location of Gain or (Loss) Recognized in Earnings
 
Realized
 
Unrealized
 
Total
 
 
(In thousands)
Derivatives not designated as hedging instruments:
 
 

 
 

 
 

Commodity derivatives:
 
 

 
 

 
 

Other income (expense) - Gain (loss) on derivatives
 
$
(3,410
)
 
$
17,858

 
$
14,448

Total
 
$
(3,410
)
 
$
17,858

 
$
14,448

 
 
 
Amount of Gain or (Loss) Recognized in Earnings
 
 
Year Ended December 31, 2011
Location of Gain or (Loss) Recognized in Earnings
 
Realized
 
Unrealized
 
Total
 
 
(In thousands)
Derivatives not designated as hedging instruments:
 
 

 
 

 
 

Commodity derivatives:
 
 

 
 

 
 

Other income (expense) - Gain (loss) on derivatives
 
$
42,521

 
$
4,506

 
$
47,027

Total
 
$
42,521

 
$
4,506

 
$
47,027

 
 
 
Amount of Gain or (Loss) Recognized in Earnings
 
 
Year Ended December 31, 2010
Location of Gain or (Loss) Recognized in Earnings
 
Realized
 
Unrealized
 
Total
 
 
(In thousands)
Derivatives not designated as hedging instruments:
 
 

 
 

 
 

Commodity derivatives:
 
 

 
 

 
 

Other income (expense) - Gain (loss) on derivatives
 
$
9,875

 
$
(9,153
)
 
$
722

Total
 
$
9,875

 
$
(9,153
)
 
$
722