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Oil And Gas Properties (Tables) | 12 Months Ended
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Dec. 31, 2012
Oil And Gas Properties [Abstract] |
Changes In Asset Retirement Obligations |
|  | 2012 |  | 2011 |
Asset retirement obligations at January 1, | $ | 227,090 | $ | 222,653 |
Liability incurred during the period |  | 3,664 |  | 4,982 |
Liability settled during the period |  | (105,160) |  | (37,769) |
Other revisions in estimated cash flows (1) |  | 62,834 |  | 22,345 |
Accretion expense (included in depreciation and amortization) |  | 12,550 |  | 14,879 |
Asset retirement obligations at December 31, | $ | 200,978 | $ | 227,090 |
(1) The increased amount of these liabilities includes revisions to both non-producing and producing oil and gas properties. Increases to liabilities associated with non-producing fields ($12.4 million and $22.5 million during the year ended December 31, 2012 and 2011, respectively) include corresponding abandonment expense charges to cost of sales within our consolidated statements of operations while changes in estimates for producing properties are recorded as an increase to property and equipment carrying costs of the related oil and gas properties within our consolidated balance sheets.
Results of Operations for Oil and Gas Producing Activities Disclosure |
|  | Year Ended December 31, |
|  | 2012 |  | 2011 |  | 2010 |
Revenues | $ | 557,231 | $ | 696,607 | $ | 425,369 |
Costs: |  |  |  |  |  |  |
Production (lifting) costs |  | 164,663 |  | 176,269 |  | 131,156 |
Hurricane repair expense |  | 662 |  | (4,838) |  | 4,699 |
Exploration expenses (1) |  | 3,295 |  | 10,914 |  | 8,276 |
Depreciation, depletion, amortization and accretion |  | 158,284 |  | 219,915 |  | 235,243 |
Proved property impairment and abandonment charges (2) |  | 151,045 |  | 113,439 |  | 177,138 |
(Gain) loss on sale of oil and gas properties |  | 1,714 |  | (4,531) |  | (287) |
Non-hedge gain on commodity derivative contracts |  | (5,550) |  | - |  | (1,088) |
Selling, general and administrative expenses |  | 17,823 |  | 12,951 |  | 15,966 |
Net interest expense and other (3) |  | 28,191 |  | 25,558 |  | 19,687 |
Total costs |  | 520,127 |  | 549,677 |  | 590,790 |
Pretax income (loss) from discontinued operations |  | 37,104 |  | 146,930 |  | (165,421) |
Income tax provision (benefit) |  | 13,420 |  | 51,709 |  | (58,764) |
Income (loss) from discontinued operations, net of tax | $ | 23,684 | $ | 95,221 | $ | (106,657) |
(1) See “Exploration and Other” below for additional information related to the components of our exploration costs, including impairment charges for expiring unproved leases. (2) Includes $138.6 million recorded to reduce our carrying value of ERT to its estimated fair value less costs to sell. (3) Net interest expense of $27.7 million, $25.2 million and $19.7 million for the years ended December 31, 2012, 2011 and 2010, respectively, was allocated to ERT primarily based on interest associated with indebtedness directly attributed to the substantial acquisition made by our oil and gas subsidiary in 2006. This includes interest related to debt required to be paid upon the disposition of ERT.
Schedule of Results of Discontinued Operations |
|  | 2012 |  | 2011 |
Cash and cash equivalents | $ | 2 | $ | 2 |
Accounts receivable |  | 63,762 |  | 90,882 |
Other current assets |  | 20,236 |  | 28,037 |
Current assets of discontinued operations |  | 84,000 |  | 118,921 |
Property and equipment, net |  | 787,852 |  | 871,658 |
Restricted cash and other |  | 28,375 |  | 33,741 |
Non-current assets of discontinued operations | $ | 816,227 | $ | 905,399 |
Accounts payable | $ | 110,569 | $ | 73,124 |
Accrued liabilities |  | 18,217 |  | 27,968 |
Current asset retirement obligations |  | 53,741 |  | 65,883 |
Current liabilities of discontinued operations |  | 182,527 |  | 166,975 |
Asset retirement obligations |  | 147,237 |  | 161,208 |
Non-current liabilities of discontinued operations | $ | 147,237 | $ | 161,208 |
Schedule of Aging of Capitalized Exploratory Well Costs |
|  | 2012 |  | 2011 |
Wang (1) | $ | - | $ | 3,096 |
Danny II |  | - |  | 2,619 |
T-6 (1) |  | 8,122 |  | - |
Other |  | 125 |  | 125 |
Total | $ | 8,247 | $ | 5,840 |
(1) Both of these wells are located within the Phoenix field at Green Canyon Block 237.
Capitalized Exploratory Well Costs, Roll Forward |
|  | 2012 |  | 2011 |  | 2010 |
Beginning balance at January 1, | $ | 5,840 | $ | 3,252 | $ | 3,059 |
Additions pending the determination of proved reserves |  | 135,311 |  | 2,513 |  | (944) |
Reclassifications to proved properties |  | (132,959) |  | 5 |  | 713 |
Charged to dry hole expense |  | 55 |  | 70 |  | 424 |
Ending balance at December 31, | $ | 8,247 | $ | 5,840 | $ | 3,252 |
Components Of Exploration Expenses |
|  | Year Ended December 31, |
|  | 2012 |  | 2011 |  | 2010 |
Delay rental and geological and geophysical costs | $ | 2,517 | $ | 2,650 | $ | 2,306 |
Impairment of unproved properties |  | 833 |  | 8,334 |  | 6,394 |
Dry hole expense |  | (55) |  | (70) |  | (424) |
Total exploration expense | $ | 3,295 | $ | 10,914 | $ | 8,276 |

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