XML 78 R11.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Property, Plant and Equipment | 3 Months Ended
--- | ---
Mar. 31, 2014
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment consists of the following (in thousands):
| March 31, 2014 |  | December 31, 2013
Oil and natural gas properties |  |  |
Proved(1) | $ | 10,443,534 |  |  | $ | 10,972,816 |
Unproved | 292,459 |  |  | 531,606 |
Total oil and natural gas properties | 10,735,993 |  |  | 11,504,422 |
Less accumulated depreciation, depletion and impairment | (6,043,109 | ) |  | (5,762,969 | )
Net oil and natural gas properties capitalized costs | 4,692,884 |  |  | 5,741,453 |
Land | 18,404 |  |  | 18,423 |
Non-oil and natural gas equipment(2) | 602,706 |  |  | 600,603 |
Buildings and structures(3) | 237,578 |  |  | 233,405 |
Total | 858,688 |  |  | 852,431 |
Less accumulated depreciation and amortization | (299,346 | ) |  | (286,209 | )
Other property, plant and equipment, net | 559,342 |  |  | 566,222 |
Total property, plant and equipment, net | $ | 5,252,226 |  |  | $ | 6,307,675 |
____________________
(1) | Includes cumulative capitalized interest of approximately $25.9 million and $23.4 million at March 31, 2014 and December 31, 2013, respectively.
(2) | Includes cumulative capitalized interest of approximately $4.3 million at both March 31, 2014 and December 31, 2013.
(3) | Includes cumulative capitalized interest of approximately $13.4 million and $12.0 million at March 31, 2014 and December 31, 2013, respectively.
Accumulated depreciation, depletion and impairment on oil and natural gas properties includes cumulative full cost ceiling limitation impairment of $3.7 billion and $3.5 billion at March 31, 2014 and December 31, 2013, respectively. During the three-month period ended March 31, 2014, the Company reduced the net carrying value of its oil and natural gas properties by $164.8 million as a result of its quarterly full cost ceiling analysis. Drilling Carry Commitments The Company has agreements with two partners, which contain drilling carry commitments to fund a portion of its future drilling and completion costs within areas of mutual interest. The Company recorded approximately $72.3 million for Repsol E&P USA, Inc.’s (“Repsol”) drilling carry during the three-month period ended March 31, 2014, and a combined $123.3 million for both Atinum MidCon I, LLC’s and Repsol’s drilling carries during the three-month periods ended March 31, 2013, which reduced the Company’s capital expenditures for the respective periods. Atinum MidCon I, LLC fully funded its drilling carry commitment in the third quarter of 2013. Under the agreement with Repsol, the remaining drilling carry commitment may be reduced if a certain number of wells are not drilled within the area of mutual interest during a 12-month period. However, the Company expects Repsol to fully fund its drilling carry commitment during 2014.

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

X
- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration