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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

The following tables summarize the approximate volumes and average contract prices of contracts the Company had in place as of June 30, 2013:

Oil Contracts

Oil Swaps



Contract Period
 
Volumes
 
Weighted-Average
 Contract Price
 
 
(Bbls)
 
(per Bbl)
Remainder of 2013
 
2,383,000

 
$
97.51

2014
 
2,024,000

 
$
93.85

2015
 
356,000

 
$
88.40

All oil swaps*
 
4,763,000

 
 

*Oil swaps are comprised of NYMEX WTI (71%) and Argus LLS (29%).

Oil Collars

Contract Period
 
NYMEX WTI
 Volumes
 
Weighted-
Average Floor
 Price
 
Weighted-
Average Ceiling
 Price
 
 
(Bbls)
 
(per Bbl)
 
(per Bbl)
Remainder of 2013
 
1,491,000

 
$
77.88

 
$
111.93

2014
 
3,022,000

 
$
84.07

 
$
105.46

2015
 
3,366,000

 
$
85.00

 
$
94.25

All oil collars
 
7,879,000

 
 
 
 

Gas Contracts

Gas Swaps
Contract Period
 
Volumes
 
Weighted-Average
 Contract Price
 
 
(MMBtu)
 
(per MMBtu)
Remainder of 2013
 
40,335,000

 
$
4.00

2014
 
59,384,000

 
$
4.08

2015
 
33,528,000

 
$
4.07

2016
 
10,331,000

 
$
4.38

All gas swaps*
 
143,578,000

 
 

*Gas swaps are comprised of IF El Paso Permian (3%), IF HSC (58%), IF NGPL TXOK (5%), IF NNG Ventura (3%), IF PEPL (13%), IF Reliant N/S (15%), IF TETCO STX (1%), and IF NGPL MidCont (2%).

Gas Collars
Contract Period
 
Volumes
 
Weighted-
Average Floor
Price
 
Weighted-
Average Ceiling
Price
 
 
(MMBtu)
 
(per MMBtu)
 
(per MMBtu)
Remainder of 2013
 
3,410,000

 
$
4.39

 
$
5.31

2014
 
5,734,000

 
$
4.38

 
$
5.36

2015
 
14,480,000

 
$
3.96

 
$
4.30

All gas collars*
 
23,624,000

 
 
 
 

*Gas collars are comprised of IF El Paso Permian (2%), IF HSC (51%), IF NGPL TXOK (6%), IF NNG Ventura (4%), IF PEPL (6%), IF Reliant N/S (17%), and IF TETCO STX (14%).

NGL Contracts

NGL Swaps
Contract Period
 
Volumes
 
Weighted-Average
 Contract Price
 
 
(Bbls)
 
(per Bbl)
Remainder of 2013
 
1,077,000

 
$
53.26

2014
 
404,000

 
$
58.42

All NGL swaps*
 
1,481,000

 
 

*NGL swaps are comprised of OPIS Mont. Belvieu Purity Ethane (9%), OPIS Mont. Belvieu LDH Propane (44%), OPIS Mont. Belvieu NON-LDH Isobutane (12%), OPIS Mont. Belvieu NON-LDH Normal Butane (16%), and OPIS Mont. Belvieu NON-LDH Natural Gasoline (19%).
Schedule of fair value of derivatives in accompanying balance sheets
The following tables detail the fair value of derivatives recorded in the accompanying balance sheets, by category:

 
As of June 30, 2013
 
Derivative Assets
 
Derivative Liabilities
 
Balance Sheet
 Classification
 
Fair Value
 
Balance Sheet
 Classification
 
Fair Value
 
(in thousands)
Commodity contracts
Current assets
 
$
58,071

 
Current liabilities
 
$
4,748

Commodity contracts
Noncurrent assets
 
28,798

 
Noncurrent liabilities
 
1,525

Derivatives not designated as hedging instruments
 
 
$
86,869

 
 
 
$
6,273


 
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 the potential effects of master netting arrangements [Table Text Block]
The following table provides a reconciliation between the gross assets and liabilities reflected on the accompanying balance sheets and the potential effects of master netting arrangements on the fair value of the Company's derivative contracts:

 
 
Derivative Assets
 
Derivative Liabilities
 
 
As of
 
As of
Offsetting of Derivative Assets and Liabilities
 
June 30, 2013
 
December 31, 2012
 
June 30, 2013
 
December 31, 2012
 
 
(in thousands)
Gross amounts presented in the accompanying balance sheets
 
$
86,869

 
$
54,339

 
$
(6,273
)
 
$
(15,644
)
Amounts not offset in the accompanying balance sheets
 
(6,273
)
 
(13,400
)
 
6,273

 
13,400

Net amounts
 
$
80,596

 
$
40,939

 
$
—

 
$
(2,244
)
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 gain presented in the accompanying statements of operations:

 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
 
(in thousands)
Cash settlement (gain) loss:
 
 
 
 
 
 
 
Oil contracts
$
(29
)
 
$
2,371

 
$
248

 
$
10,670

Gas contracts
2,091

 
(16,252
)
 
(7,733
)
 
(31,464
)
NGL contracts
(4,273
)
 
(2,565
)
 
(6,518
)
 
(1,088
)
Total cash settlement gain
$
(2,211
)
 
$
(16,446
)
 
$
(14,003
)
 
$
(21,882
)
 
 
 
 
 
 
 
 
Unrealized (gain) loss on change in fair value:
 
 
 
 
 
 
 
Oil contracts
$
(26,044
)
 
$
(92,774
)
 
$
(22,255
)
 
$
(63,283
)
Gas contracts
(50,267
)
 
29,867

 
(10,198
)
 
12,233

NGL contracts
(6,668
)
 
(18,759
)
 
(8,162
)
 
(22,964
)
Total net unrealized gain on change in fair value
(82,979
)

(81,666
)

(40,615
)

(74,014
)
Total unrealized and realized derivative gain
$
(85,190
)
 
$
(98,112
)
 
$
(54,618
)
 
$
(95,896
)
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 June 30,
 
For the Six Months Ended June 30,
 
Derivatives
 
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
(in thousands)
Amount reclassified from AOCIL
Commodity contracts
 
Realized hedge gain (loss)
 
$
746

 
$
(116
)
 
$
807

 
$
(1,150
)