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Related Party Transactions
 6 Months Ended
Jun. 30, 2013
Related Party Transactions [Abstract]  
Related Party Transactions
Related Party Transactions

The Company enters into transactions in the ordinary course of business with certain related parties. These transactions primarily consist of sales of oil and natural gas. There were no sales to related parties during the three-month period ended June 30, 2013 and $1.6 million of sales to related parties during the six-month period ended June 30, 2013. During the three and six-month periods ended June 30, 2012, sales to related parties were $3.2 million and $7.0 million, respectively.

Former Chairman and CEO Severance. On June 28, 2013, Tom L. Ward separated employment from the Company. Amounts to be paid under the terms of his employment agreement include approximately $58.2 million for salary and bonus, of which $4.6 million will be paid in 36 monthly installments beginning in January 2014, and approximately $36.8 million associated with the accelerated vesting of 6.3 million shares of restricted stock awards. Salary and bonus amounts due within one year, totaling $55.1 million, are reflected in accounts payable - related party with the remaining $3.1 million included in other long-term obligations in the accompanying unaudited condensed consolidated balance sheet at June 30, 2013.

Oklahoma City Thunder Agreement. The Company’s former Chairman and CEO and one of its directors own minority interests in a limited liability company that owns and operates the Oklahoma City Thunder basketball team. The Company was party to a sponsorship agreement, whereby it paid approximately $3.3 million per year for advertising and promotional activities related to the Oklahoma City Thunder, which terminated with the conclusion of the 2012-2013 season.

Office Lease. In July 2012, the Company entered into a commercial lease to rent space in a building owned by an entity that is partially owned by one of the Company’s directors. The terms provide for an initial lease term of three years with annual rent of approximately $0.5 million, and any renovation costs paid by the Company with respect to the leased space will be applied toward future rent payments. Renovation costs in excess of the total rent will be reimbursed to the Company at the end of the lease agreement. As of June 30, 2013, the Company has made renovations costing approximately $3.3 million. The terms of the lease were reviewed and approved by the disinterested members of the Board and the Company believes that the rent expense to be paid under the lease is at a fair market rate.