Divestitures

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Divestitures

Note 7 – Divestitures

On January 16, 2014, we completed the sale of our interests in the Cut Off and Clovelly fields for cash consideration of approximately $44.8 million and the assumption of the associated asset retirement obligations of approximately $9.2 million. On January 31, 2014, we completed the sale of our interest in the Hatch Point field for cash consideration of approximately $9.7 million and the assumption of the associated asset retirement obligations of approximately $1.2 million. These sales were accounted for as an adjustment to capitalized costs with no gain or loss recognized.

On July 31, 2014, we completed the sale of certain of our non-core properties in the GOM conventional shelf (see Note 13—Subsequent Events).