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Subsequent Events | 3 Months Ended
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Mar. 31, 2014
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. Lease obligations. In April 2014, the Company entered into an amendment to its lease agreement for office space, which increased its total rental commitments under leases to $27.6 million as of the date of this report. Drilling contracts. In April 2014, the Company entered into additional drilling rig contracts with initial terms greater than one year. In the event of early termination under these contracts, the Company would be obligated to pay approximately $21.9 million as of the date of this report. Derivative instruments. In April 2014, the Company entered into new swap agreements, which settle monthly based on the WTI crude oil index price, for a total notional amount of 1,092,000 barrels in 2015. These derivative instruments do not qualify for and were not designated as hedging instruments for accounting purposes.

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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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