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Commitments and Contingencies
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6 Months Ended |
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Jun. 30, 2013
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| Commitments And Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | 4. Commitments and Contingencies Our contractual obligations include long-term debt, daywork drilling contracts, operating lease obligations, asset retirement obligations and employment agreements with our executive officers. Since December 31, 2012, there have been no material changes to our contractual obligations, other than an increase in long-term debt, primarily due to the issuance of the Senior Notes as discussed in Note 3 above. As a result of the issuance of the Senior Notes, our annual interest expense related to the Senior Notes is $17.5 million due semi-annually on June 15 and December 15, beginning December 15, 2013.
We are involved in various legal and regulatory proceedings arising in the normal course of business. While we cannot predict the outcome of these proceedings with certainty, we do not believe that an adverse result in any pending legal or regulatory proceeding, individually or in the aggregate, would be material to our consolidated financial condition or cash flows. |