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Derivative Instruments (Tables) | 12 Months Ended
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Dec. 31, 2012
Schedule of Outstanding Commodity Derivative Instruments | As of December 31, 2012, the Company had the following outstanding commodity derivative contracts, all of which settle monthly based on the WTI crude oil index price:
Settlement Period |  | Derivative Instrument |  | Total Notional Amount of Oil (Barrels) |  |  | Average Swap Price |  |  | Average Sub-Floor Price |  |  | Average Floor Price |  |  | Average Ceiling Price |  |  | Fair Value Asset (Liability) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (In thousands) |
2013 |  | Two-way collar |  |  | 2,116,000 |  |  |  |  |  |  |  |  |  |  | $ | 87.05 |  |  | $ | 98.78 |  |  |  | 56 |
2013 |  | Three-way collar |  |  | 2,357,420 |  |  |  |  |  |  | $ | 65.96 |  |  | $ | 92.16 |  |  | $ | 111.26 |  |  |  | 8,603 |
2013 |  | Put Spreads |  |  | 1,717,080 |  |  |  |  |  |  | $ | 70.71 |  |  | $ | 91.24 |  |  |  |  |  |  |  | 7,567 |
2013 |  | Swaps |  |  | 1,033,000 |  |  | $ | 94.76 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,742 |
2014 |  | Two-way collar |  |  | 170,500 |  |  |  |  |  |  |  |  |  |  | $ | 86.82 |  |  | $ | 97.75 |  |  |  | (69 | )
2014 |  | Three-way collar |  |  | 2,361,030 |  |  |  |  |  |  | $ | 70.38 |  |  | $ | 90.90 |  |  | $ | 106.88 |  |  |  | 3,453 |
2014 |  | Put Spreads |  |  | 150,970 |  |  |  |  |  |  | $ | 71.03 |  |  | $ | 91.03 |  |  |  |  |  |  |  | 889 |
2014 |  | Swaps |  |  | 93,000 |  |  | $ | 94.76 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 154 |
2015 |  | Three-way collar |  |  | 201,500 |  |  |  |  |  |  | $ | 70.77 |  |  | $ | 90.77 |  |  | $ | 106.48 |  |  |  | 174 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 22,569 |
Schedule of Location and Fair Value of Outstanding Commodity Derivative Instruments | The following table summarizes the location and fair value of all outstanding commodity derivative contracts recorded in the Consolidated Balance Sheet for the periods presented:
Fair Value of Derivative Instrument Assets (Liabilities) |
|  |  |  | Fair Value December 31, |
Instrument Type |  | Balance Sheet Location |  | 2012 |  |  | 2011 |
|  |  |  | (In thousands) |
Crude oil collar |  | Derivative instruments — current assets |  | $ | 19,016 |  |  | $ | — |
Crude oil collar |  | Derivative instruments — non-current assets |  |  | 4,981 |  |  |  | 4,362 |
Crude oil collar |  | Derivative instruments — current liabilities |  |  | (1,048 | ) |  |  | (5,907 | )
Crude oil collar |  | Derivative instruments — non-current liabilities |  |  | (380 | ) |  |  | (3,505 | )
Total derivative instruments |  |  |  | $ | 22,569 |  |  | $ | (5,050 | )
Realized and Unrealized Gains and Losses From Commodity Derivative Instruments | The following table summarizes the location and amounts of realized and unrealized gains and losses from the Company’s commodity derivative contracts for the periods presented:
|  |  |  | December 31, |
|  | Statement of Operations Location |  | 2012 |  |  | 2011 |  |  | 2010 |
|  |  |  | (In thousands) |
Change in unrealized gain (loss) on derivative instruments |  | Net gain (loss) on derivative instruments |  | $ | 27,619 |  |  | $ | 5,436 |  |  | $ | (7,533 | )
Realized gain (loss) on derivative instruments |  | Net gain (loss) on derivative instruments |  |  | 6,545 |  |  |  | (3,841 | ) |  |  | (120 | )
Total net gain (loss) on derivative instruments |  |  |  | $ | 34,164 |  |  | $ | 1,595 |  |  | $ | (7,653 | )

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -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. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -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. + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41678-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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