XML 81 R44.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Derivatives (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value of Derivative Contracts | The following table presents the fair value of the Company’s derivative contracts as of December 31, 2012 and 2011 on a gross basis without regard to same-counterparty netting (in thousands):
|  |  |  | December 31,
Type of Contract |  | Balance Sheet Classification |  | 2012 |  | 2011
Derivative assets |  |  |  |  |  |
Oil price swaps |  | Derivative contracts—current |  | $ | 88,052 |  |  | $ | 6,095 |
Natural gas price swaps |  | Derivative contracts—current |  | — |  |  | 6,585 |
Oil basis swaps |  | Derivative contracts—current |  | 183 |  |  | — |
Natural gas collars |  | Derivative contracts—current |  | 3,111 |  |  | 313 |
Diesel price swaps |  | Derivative contracts—current |  | — |  |  | 397 |
Oil price swaps |  | Derivative contracts—noncurrent |  | 37,983 |  |  | 48,718 |
Oil collars—three way |  | Derivative contracts—noncurrent |  | 190 |  |  | — |
Natural gas collars |  | Derivative contracts—noncurrent |  | 884 |  |  | 1,035 |
Derivative liabilities |  |  |  |  |  |
Oil price swaps |  | Derivative contracts—current |  | (31,991 | ) |  | (116,243 | )
Oil basis swaps |  | Derivative contracts—current |  | (695 | ) |  | — |
Oil collars—two way |  | Derivative contracts—current |  | (103 | ) |  | — |
Diesel price swaps |  | Derivative contracts—current |  | — |  |  | (41 | )
Interest rate swap |  | Derivative contracts—current |  | (2,395 | ) |  | (8,475 | )
Oil price swaps |  | Derivative contracts—noncurrent |  | (67,900 | ) |  | (66,451 | )
Natural gas basis swaps |  | Derivative contracts—noncurrent |  | — |  |  | (4,609 | )
Oil collars—three way |  | Derivative contracts—noncurrent |  | (7,327 | ) |  | — |
Interest rate swap |  | Derivative contracts—noncurrent |  | — |  |  | (1,973 | )
Total net derivative contracts |  |  |  | $ | 19,992 |  |  | $ | (134,649 | )
Cash Settlements and Valuation Gains and Losses on Derivative Contracts and Interest Rate Swaps | The following table summarizes the cash settlements and valuation gain and loss on the Company’s commodity derivative contracts and interest rate swaps, which are included in (gain) loss on derivative contracts and interest expense, respectively, in the accompanying consolidated statements of operations for the years ended December 31, 2012, 2011 and 2010 (in thousands):
| Year Ended December 31,
| 2012 |  | 2011 |  | 2010
Commodity Derivatives |  |  |  |  |
Realized (gain) loss(1) | $ | (31,718 | ) |  | $ | 50,713 |  |  | $ | (224,337 | )
Unrealized (gain) loss | $ | (209,701 | ) |  | $ | (94,788 | ) |  | $ | 275,209 |
(Gain) loss on commodity derivative contracts | $ | (241,419 | ) |  | $ | (44,075 | ) |  | $ | 50,872 |
Interest Rate Swaps |  |  |  |  |
Realized loss | $ | 9,243 |  |  | $ | 9,414 |  |  | $ | 8,145 |
Unrealized (gain) loss | (8,054 | ) |  | (6,246 | ) |  | 8,395 |
Loss on interest rate swaps | $ | 1,189 |  |  | $ | 3,168 |  |  | $ | 16,540 |
____________________
(1) | The year ended December 31, 2012 includes $59.5 million of net realized gain related to settlements of commodity derivative contracts with contractual maturities after the quarterly period in which they were settled (“early settlements”) and a $117.1 million non-cash realized loss on derivative contracts amended in January 2012. The years ended December 31, 2011 and 2010 include $48.1 million ($111.0 million realized gain and $62.9 million realized loss) and $114.5 million of realized gain, respectively, related to early settlements.
Open Commodity Derivative Contracts | At December 31, 2012, the Company’s open commodity derivative contracts consisted of the following: Oil Price Swaps
| Notional (MBbls) |  | Weighted Average Fixed Price
January 2013 — December 2013 | 18,515 |  |  | $ | 96.24 |
January 2014 — December 2014 | 7,511 |  |  | $ | 92.43 |
January 2015 — December 2015 | 5,076 |  |  | $ | 83.69 |
Oil Basis Swaps
| Notional (MBbls) |  | Weighted Average Fixed Price
January 2013 — December 2013 | 543 |  |  | $ | 13.83 |
Oil Collars - Two-way
| Notional (MBbls) |  | Collar Range
January 2013 — December 2013 | 168 |  |  | $80.00 | — | $102.50
Oil Collars - Three-way
| Notional (MBbls) |  | Sold Put | Purchased Put | Sold Call
January 2014 — December 2014 | 8,213 |  |  | $70.00 | $90.20 | $100.00
January 2015 — December 2015 | 2,920 |  |  | $73.13 | $90.82 | $103.13
Natural Gas Collars
| Notional (MMcf) |  | Collar Range
January 2013 — December 2013 | 6,858 |  |  | $3.78 | — | $6.71
January 2014 — December 2014 | 937 |  |  | $4.00 | — | $7.78
January 2015 — December 2015 | 1,010 |  |  | $4.00 | — | $8.55

X
- Definition Tabular disclosure of realized and unrealized gains and losses reported in the statement of operations + References No definition available. + Details
Name: | sd_DerivativeInstrumentsCashSettlementsAndValuationGainAndLossTableTextBlock
Namespace Prefix: | sd_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of open commodity contracts. + References No definition available. + Details
Name: | sd_OpenCommodityDerivativeContractsTableTextBlock
Namespace Prefix: | sd_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -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. + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration