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Supplemental Oil And Gas Disclosures (Tables)

12 Months Ended

Dec. 31, 2012

Supplemental Oil and Gas Disclosures [Abstract]

Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure


		2012		2011

Unproved oil and gas properties	$	51,513	$	50,389
Proved oil and gas properties		2,453,667		2,516,363
Total oil and gas properties		2,505,180		2,566,752
Accumulated depletion, depreciation and amortization		(1,717,314)		(1,695,105)
Net capitalized costs	$	787,866	$	871,647

Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure


		Year Ended December 31,
		2012		2011		2010

Property acquisition costs:
Proved properties	$	-	$	-	$	-
Unproved properties		-		41		364
Total property acquisition costs		-		41		364
Exploration costs		135,311		2,513		1,362
Development costs ⁽¹⁾		17,344		126,196		53,002
Asset retirement costs ⁽²⁾		59,715		46,446		25,356
Total costs incurred	$	212,370	$	175,196	$	80,084

(1) Development costs include costs incurred to obtain access to proved reserves to drill and equip development wells.

(2) Asset retirement costs include $15.5 million, $20.0 million, $0.9 million, respectively, associated with the Camelot field in the United Kingdom during the years ended December 31, 2012, 2011 and 2010.

Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities


			Total
	Oil	Gas	(MBOE)

Total proved reserves at December 31, 2009 ⁽¹⁾	29,727	399,315	96,280
Revision of previous estimates ^{(1), (2)}	(1,555)	(144,954)	(25,714)
Production	(3,354)	(27,097)	(7,870)
Purchases of reserves in place	-	-	-
Sales of reserves in place	-	-	-
Extensions and discoveries	-	-	-
Total proved reserves at December 31, 2010	24,818	227,264	62,696
Revision of previous estimates ⁽³⁾	3,475	(108,947)	(14,683)
Production	(5,785)	(17,458)	(8,694)
Purchases of reserves in place	-	-	-
Sales of reserves in place	(205)	(4,109)	(890)
Extensions and discoveries	386	271	431
Total proved reserves at December 31, 2011	22,689	97,021	38,860
Revision of previous estimates ⁽⁴⁾	647	(12,926)	(1,508)
Production	(4,725)	(11,361)	(6,619)
Purchases of reserves in place	-	-	-
Sales of reserves in place	(75)	(3,473)	(654)
Extensions and discoveries	1,434	4,026	2,105
Total proved reserves at December 31, 2012	19,970	73,287	32,184

Total proved developed reserves as of:
December 31, 2009	14,850	124,763	35,644
December 31, 2010	11,796	75,664	24,407
December 31, 2011	12,754	59,859	22,731
December 31, 2012	12,431	43,475	19,677

(1) Total proved gas reserves at December 31, 2009 include 12 Bcf associated with the Camelot field in the United Kingdom. The U.K. reserves were reversed in 2010 as a result of our decision to no longer develop the field and to pursue its full abandonment.

(2) Includes an approximate 1.8 MMBbls decrease in oil reserve and an approximate 131 Bcf decrease in gas reserve as reflected in our independent petroleum engineer reserve report at June 30, 2010 resulting from a combination of factors, including well performance issues at certain producing fields, most notably the Bushwood field at Garden Banks Blocks 462/463/506/507, as well as changes in the field economics of other oil and gas properties. The changes in field economics primarily affected properties that were either close to the end of their production life or in which we had proved undeveloped reserves, which would have been required to be developed in the near term. The decision not to develop these properties in light of these economic changes was also driven by our desire to pursue potential alternatives to divest all or a portion of our oil and gas assets and the increasing uncertainties about future oil and gas operations in the Gulf of Mexico as a result of the Macondo well control incident.

(3) The positive revision in oil reserves reflects the better than expected production volumes primarily from the Phoenix field at Green Canyon Blocks 236, 237, 238 and 282 since it began production in October 2010. The decrease in gas reserve primarily represents a reclassification of estimated proved reserves to the probable reserve category following the receipt and interpretation of new seismic data. The field with the largest shift from the proved to probable reserve category was the Bushwood field, where we reclassified approximately 87 Bcf at December 31, 2011.

(4) Decrease primarily represents revisions at several gas fields due to well performance and future capital investment plans.

Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure


		United		United
		States		Kingdom		Total
As of December 31, 2012 —
Future cash inflows	$	2,341,354	$	-	$	2,341,354
Future costs:
Production		509,408		-		509,408
Development and abandonment		507,074		2,897		509,971
Total future costs		1,016,482		2,897		1,019,379
Future net cash flows before income taxes		1,324,872		(2,897)		1,321,975
Future income tax expense		330,630		-		330,630
Future net cash flows		994,242		(2,897)		991,345
Discount at 10% annual rate		153,032		-		153,032
Standardized measure of discounted future net cash flows	$	841,210	$	(2,897)	$	838,313


As of December 31, 2011 —
Future cash inflows	$	2,811,956	$	-	$	2,811,956
Future costs:
Production		419,617		-		419,617
Development and abandonment		557,323		27,300		584,623
Total future costs		976,940		27,300		1,004,240
Future net cash flows before income taxes		1,835,016		(27,300)		1,807,716
Future income tax expense		477,630		-		477,630
Future net cash flows		1,357,386		(27,300)		1,330,086
Discount at 10% annual rate		266,954		-		266,954
Standardized measure of discounted future net cash flows	$	1,090,432	$	(27,300)	$	1,063,132


As of December 31, 2010 —
Future cash inflows	$	2,925,744	$	-	$	2,925,744
Future costs:
Production		583,050		-		583,050
Development and abandonment		590,870		12,200		603,070
Total future costs		1,173,920		12,200		1,186,120
Future net cash flows before income taxes		1,751,824		(12,200)		1,739,624
Future income tax expense		430,153		-		430,153
Future net cash flows		1,321,671		(12,200)		1,309,471
Discount at 10% annual rate		318,404		-		318,404
Standardized measure of discounted future net cash flows	$	1,003,267	$	(12,200)	$	991,067

Schedule Of Average Price Used To Estimate Proved Oil And Gas Reserves


		Year Ended December 31,
		2012		2011		2010

Oil price per Bbl	$	104.85	$	105.35	$	77.55
Natural gas price per Mcf	$	3.38	$	4.34	$	4.40

Changes In Standardized Measure Of Discounted Future Net Cash Flows


		Year Ended December 31,
		2012		2011		2010

Standardized measure, beginning of year	$	1,063,132	$	991,067	$	991,060
Changes during the year:
Sales, net of production costs		(379,910)		(516,895)		(294,212)
Net change in prices and production costs		(242,037)		414,426		577,687
Changes in future development costs		(65,854)		(108,007)		84,907
Development costs incurred ⁽¹⁾		149,702		168,005		55,646
Accretion of discount		147,157		131,464		129,083
Net change in income taxes		101,720		(54,613)		(41,115)
Purchases of reserves in place		-		-		-
Extensions and discoveries		110,655		29,479		-
Sales of reserves in place		(6,096)		(14,324)		-
Net change due to revision in quantity estimates		28,627		(186,197)		(422,987)
Changes in production rates (timing) and other		(68,783)		208,727		(89,002)
Total		(224,819)		72,065		7
Standardized measure, end of year	$	838,313	$	1,063,132	$	991,067

- Definition

Tabular disclosure of aggregate capitalized costs relating to an enterprise's oil and gas producing activities and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances.

+ References+ Details

- Definition

Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities.

+ References+ Details

- Definition

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

+ References+ Details

- Definition

Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed.

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