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Subsequent Events | 6 Months Ended
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Jun. 30, 2013
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events The Company has evaluated the period after the balance sheet date, noting no subsequent events or transactions that required recognition or disclosure in the financial statements, other than as noted below. Derivative instruments. In July 2013, the Company entered into new three-way collar options, swaps and swaps with sub-floors, which settle monthly based on the WTI crude oil index price, for a total notional amount of 1,879,000 barrels in 2014 and 124,000 barrels in 2015. These derivative instruments do not qualify for and were not designated as hedging instruments for accounting purposes. Drilling contracts. In July 2013, the Company extended one of its existing drilling rig contracts for an additional year. In the event of early contract termination under this extended contract, the Company would be obligated to pay an additional maximum of approximately $4.8 million if terminated immediately after execution.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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