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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2013
Fair Value Disclosures [Abstract] |
Significant Unobservable Inputs | The significant unobservable inputs and the range and weighted average of these inputs used in the fair value measurements of the Company’s oil basis swaps at March 31, 2013 and December 31, 2012 are included in the table below.
|  | Unobservable Input |  | Range |  | Weighted Average |  | Fair Value
|  |  |  | (price per Bbl) |  | (price per Bbl) |  | (in thousands)
March 31, 2013 |  | Oil basis differential forward curve |  | $11.31 | – | $15.49 |  | $13.28 |  | $ | (211 | )
December 31, 2012 |  | Oil basis differential forward curve |  | $10.00 | – | $21.98 |  | $14.74 |  | $ | (512 | )
Schedule of Fair Value, Assets and Liabilities Measured 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): March 31, 2013
| Fair Value Measurements |  | Netting(1) |  | Assets/Liabilities at Fair Value
| Level 1 |  | Level 2 |  | Level 3 |  |
Assets |  |  |  |  |  |  |  |  |
Restricted deposits | $ | 27,950 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 27,950 |
Commodity derivative contracts | — |  |  | 90,585 |  |  | 122 |  |  | (39,795 | ) |  | 50,912 |
Investments | 11,584 |  |  | — |  |  | — |  |  | — |  |  | 11,584 |
| $ | 39,534 |  |  | $ | 90,585 |  |  | $ | 122 |  |  | $ | (39,795 | ) |  | $ | 90,446 |
Liabilities |  |  |  |  |  |  |  |  |
Commodity derivative contracts | $ | — |  |  | $ | 92,816 |  |  | $ | 333 |  |  | $ | (39,795 | ) |  | $ | 53,354 |
| $ | — |  |  | $ | 92,816 |  |  | $ | 333 |  |  | $ | (39,795 | ) |  | $ | 53,354 |
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 |
____________________ (1)Represents the impact of netting assets and liabilities with counterparties with which the right of offset exists.
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | The table below sets forth a reconciliation of the Company’s commodity derivative contracts measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three-month periods ended March 31, 2013 and 2012 (in thousands):
|  | Three Months Ended March 31,
|  | 2013 |  | 2012
Beginning balance of Level 3 |  | $ | (512 | ) |  | $ | (4,253 | )
Total realized and unrealized gains (losses) |  | (873 | ) |  | 2,032 |
Settlements (received) paid |  | 1,174 |  |  | (454 | )
Ending balance of Level 3 |  | $ | (211 | ) |  | $ | (2,675 | )
Senior Notes Carrying Amount and Fair Value Table | The estimated fair values and carrying values of the Company’s senior notes at March 31, 2013 and December 31, 2012 were as follows (in thousands):
| March 31, 2013 |  | December 31, 2012
| Fair Value |  | Carrying Value |  | Fair Value |  | Carrying Value
9.875% Senior Notes due 2016(1) | $ | — |  |  | $ | — |  |  | $ | 392,913 |  |  | $ | 356,657 |
8.0% Senior Notes due 2018 | — |  |  | — |  |  | 790,313 |  |  | 750,000 |
8.75% Senior Notes due 2020(2) | 484,875 |  |  | 444,275 |  |  | 490,500 |  |  | 444,127 |
7.5% Senior Notes due 2021(3) | 1,222,000 |  |  | 1,179,230 |  |  | 1,257,250 |  |  | 1,179,328 |
8.125% Senior Notes due 2022 | 800,625 |  |  | 750,000 |  |  | 823,125 |  |  | 750,000 |
7.5% Senior Notes due 2023(4) | 855,938 |  |  | 821,038 |  |  | 882,750 |  |  | 820,971 |
____________________ (1)Carrying value is net of $8,843 discount at December 31, 2012. (2)Carrying value is net of $5,725 and $5,873 discount at March 31, 2013 and December 31, 2012, respectively.
(3) | Carrying value includes a premium of $4,230 and $4,328 at March 31, 2013 and December 31, 2012, respectively, applicable to notes issued in August 2012.
(4)Carrying value is net of $3,962 and $4,029 discount at March 31, 2013 and December 31, 2012, respectively.

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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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