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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2012
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis by the fair value hierarchy (in thousands): December 31, 2012
| Fair Value Measurements |  | Netting(1) |  | Assets/Liabilities at Fair Value
| Level 1 |  | Level 2 |  | Level 3 |  |
Assets |  |  |  |  |  |  |  |  |
Restricted deposits | $ | 27,947 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 27,947 |
Commodity derivative contracts | — |  |  | 130,220 |  |  | 183 |  |  | (35,764 | ) |  | 94,639 |
Investments | 10,348 |  |  | — |  |  | — |  |  | — |  |  | 10,348 |
| $ | 38,295 |  |  | $ | 130,220 |  |  | $ | 183 |  |  | $ | (35,764 | ) |  | $ | 132,934 |
Liabilities |  |  |  |  |  |  |  |  |
Commodity derivative contracts | $ | — |  |  | $ | 107,321 |  |  | $ | 695 |  |  | $ | (35,764 | ) |  | $ | 72,252 |
Interest rate swap | — |  |  | 2,395 |  |  | — |  |  | — |  |  | 2,395 |
| $ | — |  |  | $ | 109,716 |  |  | $ | 695 |  |  | $ | (35,764 | ) |  | $ | 74,647 |
December 31, 2011
| Fair Value Measurements |  | Netting(1) |  | Assets/Liabilities at Fair Value
| Level 1 |  | Level 2 |  | Level 3 |  |
Assets |  |  |  |  |  |  |  |  |
Restricted deposits | $ | 27,912 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 27,912 |
Commodity derivative contracts | — |  |  | 62,746 |  |  | 397 |  |  | (32,662 | ) |  | 30,481 |
Investments | 7,138 |  |  | — |  |  | — |  |  | — |  |  | 7,138 |
| $ | 35,050 |  |  | $ | 62,746 |  |  | $ | 397 |  |  | $ | (32,662 | ) |  | $ | 65,531 |
Liabilities |  |  |  |  |  |  |  |  |
Commodity derivative contracts | $ | — |  |  | $ | 182,694 |  |  | $ | 4,650 |  |  | $ | (32,662 | ) |  | $ | 154,682 |
Interest rate swap | — |  |  | 10,448 |  |  | — |  |  | — |  |  | 10,448 |
| $ | — |  |  | $ | 193,142 |  |  | $ | 4,650 |  |  | $ | (32,662 | ) |  | $ | 165,130 |
____________________ (1)Represents the impact of netting assets and liabilities with counterparties with which the right of offset exists.
Reconciliation of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis using Significant Unobservable Inputs | The table below sets forth a reconciliation of the Company’s assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years ended December 31, 2010, 2011 and 2012 (in thousands):
| Commodity Derivative Contracts |  | Interest Rate Swaps |  | Total
Balance of Level 3 at January 1, 2010 | $ | 46,153 |  |  | $ | (8,299 | ) |  | $ | 37,854 |
Total realized and unrealized gains (losses) | (50,872 | ) |  | (16,540 | ) |  | (67,412 | )
Purchases | 23,196 |  |  | — |  |  | 23,196 |
Settlements (received) paid | (224,337 | ) |  | 8,145 |  |  | (216,192 | )
Balance of Level 3 at December 31, 2010 | (205,860 | ) |  | (16,694 | ) |  | (222,554 | )
Total realized and unrealized gains (losses) | 44,075 |  |  | (3,168 | ) |  | 40,907 |
Settlements paid | 50,713 |  |  | 9,414 |  |  | 60,127 |
Transfers(1) | 106,820 |  |  | 10,448 |  |  | 117,268 |
Balance of Level 3 at December 31, 2011 | (4,252 | ) |  | — |  |  | (4,252 | )
Total realized and unrealized gains (losses) | (5,460 | ) |  | — |  |  | (5,460 | )
Purchases | 5,697 |  |  | — |  |  | 5,697 |
Settlements paid | 3,503 |  |  | — |  |  | 3,503 |
Balance of Level 3 at December 31, 2012 | $ | (512 | ) |  | $ | — |  |  | $ | (512 | )
____________________
(1) | Fair values related to the Company’s oil and natural gas fixed price swaps, natural gas collars and interest rate swap were transferred from Level 3 to Level 2 in the fourth quarter of 2011 due to enhancements to the Company’s internal valuation process, including the use of observable inputs to assess the fair value. During the years ended December 31, 2012 and 2010, the Company did not have any transfers between Level 1, Level 2 or Level 3 fair value measurements. The Company’s policy is to recognize transfers between fair value hierarchy levels as of the end of the quarterly reporting period in which the event or change in circumstances causing the transfer occurred.
Estimated Fair Value and Carrying Value of Senior Notes | The estimated fair values and carrying values of the Company’s senior notes at December 31, 2012 and 2011 were as follows (in thousands):
| December 31, 2012 |  | December 31, 2011
| Fair Value |  | Carrying Value |  | Fair Value |  | Carrying Value
Senior Floating Rate Notes due 2014 | $ | — |  |  | $ | — |  |  | $ | 339,381 |  |  | $ | 350,000 |
9.875% Senior Notes due 2016(1) | 392,913 |  |  | 356,657 |  |  | 396,568 |  |  | 354,579 |
8.0% Senior Notes due 2018 | 790,313 |  |  | 750,000 |  |  | 765,000 |  |  | 750,000 |
8.75% Senior Notes due 2020(2) | 490,500 |  |  | 444,127 |  |  | 475,875 |  |  | 443,568 |
7.5% Senior Notes due 2021(3) | 1,257,250 |  |  | 1,179,328 |  |  | 909,000 |  |  | 900,000 |
8.125% Senior Notes due 2022 | 823,125 |  |  | 750,000 |  |  | — |  |  | — |
7.5% Senior Notes due 2023(4) | 882,750 |  |  | 820,971 |  |  | — |  |  | — |
____________________ (1)Carrying value is net of $8,843 and $10,921 discount at December 31, 2012 and 2011, respectively. (2)Carrying value is net of $5,873 and $6,432 discount at December 31, 2012 and 2011, respectively.
(3) | Carrying value includes a premium of $4,328 at December 31, 2012 applicable to notes issued in August 2012.
(4)Carrying value is net of $4,029 discount at December 31, 2012.

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- Definition Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph d -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 Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c(1) -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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1),(d) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
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