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Investments, Available-For-Sale
6 Months Ended
Jun. 30, 2011
Investments, Available-For-Sale  
Investments, Available-For-Sale

D.        Investments, Available-For-Sale

 

As of December 31, 2010 the investments classified by the Company as available-for-sale consisted of $29.0 million of equity and bond funds intended to fund plugging and abandonment and other liabilities for which the Company self-insures.

 

During the six month period ended June 30, 2011, the Company sold all of the available-for-sale securities for proceeds of $29.9 million which resulted in gross realized gains of $8.5 million, $4.9 million of which was reclassified from accumulated other comprehensive income.  The Company uses the average cost method to determine the cost of securities sold.

 

During the six month period ended June 30, 2010, the Company purchased additional securities with a cost basis totaling $0.8 million.