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Commitments and Contingencies
 9 Months Ended
Sep. 30, 2012
Commitments and Contingencies

12. Commitments and Contingencies

Lease obligations. The Company’s total rental commitments under leases for office space and other property and equipment at September 30, 2012 were $14.0 million.

Drilling contracts. As of September 30, 2012, the Company had certain drilling rig contracts with initial terms greater than one year. In the event of early contract termination under these contracts, the Company would be obligated to pay approximately $50.4 million as of September 30, 2012 for the days remaining through the end of the primary terms of the contracts.

Volume commitment agreements. As of September 30, 2012, the Company had certain agreements with an aggregate requirement to deliver a minimum quantity of approximately 24.7 MMBbl and 15.7 Bcf from its Williston Basin project areas within a specified timeframe. Future obligations under these agreements were approximately $75.4 million as of September 30, 2012.

Litigation. The Company is party to various legal and/or regulatory proceedings from time to time arising in the ordinary course of business. The Company believes all such matters are without merit and involve amounts which, if resolved unfavorably, either individually or in the aggregate, will not have a material adverse effect on its financial condition, results of operations or cash flows.