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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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