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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Hierarchy Of Fair Value, Assets And Liabilities Measured On Recurring Basis

		At fair value as of June 30, 2012
		Level 1				Level 2				Level 3				Total
		(In thousands)
Assets:
Money market funds		$	145,609			$	—			$	—			$	145,609
Commodity derivative instruments (see Note 6)			—				53,424				—				53,424
Total assets		$	145,609			$	53,424			$	—			$	199,033
		At fair value as of December 31, 2011
		Level 1				Level 2				Level 3				Total
		(In thousands)
Assets:
Money market funds		$	250,419			$	—			$	—			$	250,419
Commodity derivative instruments (see Note 6)			—				—				4,362				4,362
Total assets		$	250,419			$	—			$	4,362			$	254,781
Liabilities:
Commodity derivative instruments (see Note 6)		$	—			$	—			$	9,412			$	9,412
Total liabilities		$	—			$	—			$	9,412			$	9,412

Reconciliation Of Changes In Fair Value Of Level 3 Derivative Instruments

		2012				2011
		(In thousands)
Balance as of January 1		$	(5,050	)		$	(10,486	)
Total gains or (losses) (realized or unrealized):
Included in earnings			—				(4,119	)
Included in other comprehensive income			—				—
Settlements			—				4,652
Transfers in and out of Level 3 (1)			5,050				—
Balance as of June 30		$	—			$	(9,953	)
Change in unrealized losses included in earnings relating to derivatives still held at June 30		$	—			$	533

(1) During the first six months of 2012, the inputs used to value the Company’s commodity derivative instruments were directly or indirectly observable and those contracts were transferred to Level 2.

X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258

+ Details

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