XML 58 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2013
Commitments And Contingencies Disclosure [Abstract]  
Commitments and Contingencies

13. Commitments and Contingencies

Lease obligations. The Company’s total rental commitments under leases for office space and other property and equipment at March 31, 2013 were $12.9 million.

Drilling contracts. As of March 31, 2013, 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 $37.2 million as of March 31, 2013 for the days remaining through the end of the primary terms of the contracts.

Volume commitment agreements. As of March 31, 2013, the Company had certain agreements with an aggregate requirement to deliver a minimum quantity of approximately 20.1 MMBbl and 14.2 Bcf from its Williston Basin project areas within specified timeframes, all of which are less than six years. Future obligations under these agreements were approximately $62.1 million as of March 31, 2013.

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.