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Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
Derivative Instruments and Hedging Activities |
Outstanding Commodity Derivatives | As of December 31, 2012, the Company had the following outstanding commodity derivatives designated as hedging instruments:
Commodity and Derivative Type |  | Weighted-Average Contract Price |  | Volume |  | Contract Period
--- | --- | --- | --- | --- | --- | ---
Natural gas collars |  | $3.09 Floor / $4.12 Ceiling |  | per Mcf |  |  | 35.5 |  | Bcf |  | Jan. 2013 - Dec. 2013
Natural gas collars |  | $3.35 Floor / $4.01 Ceiling |  | per Mcf |  |  | 35.5 |  | Bcf |  | Jan. 2013 - Dec. 2013
Natural gas collars |  | $3.40 Floor / $4.12 Ceiling |  | per Mcf |  |  | 17.7 |  | Bcf |  | Jan. 2013 - Dec. 2013
Natural gas collars |  | $3.60 Floor / $4.17 Ceiling |  | per Mcf |  |  | 17.7 |  | Bcf |  | Jan. 2013 - Dec. 2013
Natural gas collars |  | $3.76 Floor / $4.16 Ceiling |  | per Mcf |  |  | 17.7 |  | Bcf |  | Jan. 2013 - Dec. 2013
Natural gas collars |  | $3.86 Floor / $4.34 Ceiling |  | per Mcf |  |  | 17.7 |  | Bcf |  | Jan. 2013 - Dec. 2013
Natural gas collars |  | $5.15 Floor / $6.20 Ceiling |  | per Mcf |  |  | 17.7 |  | Bcf |  | Jan. 2013 - Dec. 2013
Crude oil swaps |  | $101.90 |  | per Bbl |  |  | 1,095 |  | Mbbl |  | Jan. 2013 - Dec. 2013
Effect of Derivatives Instruments on the Consolidated Balance Sheet |
|  | Fair Values of Derivative Instruments |
--- | --- | --- | ---
|  | Asset Derivatives |  |  |  | Liability Derivatives |
|  |  |  | December 31, |  |  |  |  |  | December 31, |
|  | Balance Sheet Location |  | 2012 |  | 2011 |  |  |  | Balance Sheet Location |  | 2012 |  | 2011 |
(In thousands) |  |  |
Derivatives Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments (current assets) |  | $ | 50,824 |  | $ | 177,389 |  |  |  | Derivative instruments (current assets) |  | $ | — |  | $ | — |
Commodity contracts |  | Accrued liabilities |  |  | — |  |  | — |  |  |  | Accrued liabilities |  |  | (192 | ) |  | (385 | )
Commodity contracts |  | Derivative instruments (non-current assets) |  |  | — |  |  | 21,249 |  |  |  | Derivative instruments (non-current assets) |  |  | — |  |  | — |
Commodity contracts |  | Other liabilities |  |  | — |  |  | — |  |  |  | Other liabilities |  |  | — |  |  | — |
|  |  |  |  | 50,824 |  |  | 198,638 |  |  |  |  |  |  | (192 | ) |  | (385 | )
Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments (current assets) |  |  | — |  |  | — |  |  |  | Derivative instruments (current assets) |  |  | — |  |  | (3,126 | )
|  |  |  | $ | 50,824 |  | $ | 198,638 |  |  |  |  |  | $ | (192 | ) | $ | (3,511 | )
Effect of Derivatives Designated as Hedging Instruments on the Consolidated Statement of Operations |
|  | Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) |  |  |  | Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) |
--- | --- | --- | --- | --- | --- | --- | ---
|  | Year Ended December 31, |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Income (In thousands) |  | Year Ended December 31, |
Derivatives Designated as Hedging Instruments (In thousands) |
| 2012 |  | 2011 |  | 2010 |  | 2012 |  | 2011 |  | 2010 |
Commodity Contracts |  | $ | 88,705 |  | $ | 267,667 |  | $ | 75,655 |  | Natural gas revenues |  | $ | 225,108 |  | $ | 84,937 |  | $ | 154,960 |
|  |  |  |  |  |  |  |  |  |  | Crude oil and condensate revenues |  |  | 11,218 |  |  | 1,403 |  |  | 18,030 |
|  |  |  |  |  |  |  |  |  |  |  |  | $ | 236,326 |  | $ | 86,340 |  | $ | 172,990 |
Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statement of Operations | For the years ended December 31, 2012, 2011 and 2010, respectively, there was no ineffectiveness recorded in our Consolidated Statement of Operations related to our derivative instruments.
|  |  |  | Year Ended December 31, |
--- | --- | --- | --- | --- | ---
Derivatives Not Designated as Hedging Instruments (In thousands) |  | Location of Gain (Loss) Recognized in Income on Derivative |
| 2012 |  | 2011 |  | 2010 |
Commodity Contracts |  | Natural gas revenues |  | $ | (494 | ) | $ | (965 | ) | $ | (226 | )

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