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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivatives in accompanying balance sheets

The following table details the fair value of derivatives recorded in the accompanying balance sheets, by category:

	As of March 31, 2013
	Derivative Assets						Derivative Liabilities
	Balance Sheet  Classification		Fair Value				Balance Sheet  Classification		Fair Value
	(in thousands)
Commodity contracts	Current assets		$	23,364			Current liabilities		$	22,836
Commodity contracts	Noncurrent assets		8,571				Noncurrent liabilities		12,669
Derivatives not designated as hedging instruments			$	31,935					$	35,505

	As of December 31, 2012
	Derivative Assets						Derivative Liabilities
	Balance Sheet  Classification		Fair Value				Balance Sheet  Classification		Fair Value
	(in thousands)
Commodity contracts	Current assets		$	37,873			Current liabilities		$	8,999
Commodity contracts	Noncurrent assets		16,466				Noncurrent liabilities		6,645
Derivatives not designated as hedging instruments			$	54,339					$	15,644

Schedule of unrealized and realized gains and losses on derivative instruments in the statement of operations

The following table summarizes the components of unrealized and realized derivative loss presented in the accompanying statements of operations:

	For the Three Months Ended March 31,
	2013				2012
	(in thousands)
Cash settlement (gain) loss:
Oil contracts	$	277			$	8,299
Gas contracts	(9,824		)		(15,212		)
NGL contracts	(2,245		)		1,477
Total cash settlement (gain)	$	(11,792	)		$	(5,436	)
Unrealized (gain) loss on change in fair value:
Oil contracts	$	3,789			$	29,491
Gas contracts	40,069				(17,634		)
NGL contracts	(1,494		)		(4,205		)
Total net unrealized loss on change in fair value	$	42,364			$	7,652
Total unrealized and realized derivative loss	$	30,572			$	2,216

Detail of the effect of derivative instruments reclassified from AOCI to the statement of operations (net of income tax)

The following table summarizes the effect of derivative instruments on AOCIL and the accompanying statements of operations (net of income tax):

			Location in Statements of Operations		For the Three Months Ended March 31,
	Derivatives				2013				2012
					(in thousands)
Amount reclassified from AOCIL	Commodity contracts		Other operating revenues		$	61			$	(1,034	)

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- Definition

Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

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Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

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Reference 2: 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.



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-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.



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-Name Accounting Standards Codification

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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



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-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.

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