Oil and Gas Properties and Equipment (Tables)

3 Months Ended

Mar. 31, 2013

Oil And Gas Properties And Equipment Tables [Abstract]

Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Text Block]

2. OIL AND GAS PROPERTIES AND EQUIPMENT:
		March 31,		December 31,
		2013		2012
Proven Properties:
Acquisition, equipment, exploration, drilling and environmental costs	$	7,320,488	$	7,235,765
Less: Accumulated depletion, depreciation and amortization(1)(2)		(5,636,792)		(5,578,265)
Net capitalized costs - oil and gas properties		1,683,696		1,657,500
Property, Plant and Equipment:
Gathering Systems(4)	$	283,885	$	282,879
Less: Accumulated depreciation(3)		(100,746)		(99,312)
		183,139		183,567
Other Property and Equipment		14,779		14,772
Less: Accumulated depreciation		(8,742)		(8,326)
		6,037		6,446
Land		22,359		22,359
Net capitalized costs - property, plant and equipment	$	211,535	$	212,372

(1)For the three months ended March 31, 2013 and 2012,total interest on outstanding debt was $26.0 million and $25.4 million, respectively, of which, $0.2 million and $7.1 million, respectively, was capitalized on the cost of unevaluated oil and natural gas properties and on work in process relating to gathering systems.

(2)The Company recorded a $2.9billion non-cash write-down of the carrying value of its proved oil and natural gas properties for the year ended December 31,2012 as a result of ceiling test limitations.

(3)The Company recognized impairments of $92.5 million during the year ended December 31, 2012related to the decline in fair value as defined in FASB ASC 820 as a result of forecast decreased throughput volumes on its gathering facilities in Pennsylvania dueto the decline in commodity prices. These assets are included in Property, Plant and Equipment in the Consolidated Balance Sheets. (See Note 7 for additional information on fair value).

(4)During December 2012, the Company sold a system of liquids gathering pipelines and central gathering facilities (the “LGS”) and certain associated real property rights in the Pinedale Anticline in Wyoming. The Company entered into a long-term, triple net lease agreement with the buyer relating to the use of the LGS (the “Lease Agreement”). The Lease Agreement provides for an initial term of 15 years and potential successive renewal terms of 5 years or 75% of the then remaining useful life of the LGS at the sole discretion of the Company. Annual rent for the initial term under the Lease Agreement is $20.0 million (as adjusted annually for changes based on the consumer price index) and may increase if certain volume thresholds are exceeded. The Company's sale leaseback transaction was treated as a “normal leaseback” under the provisions of FASB ASC Topic 840, Leases (“FASB ASC Topic 840”) and qualified for sales recognition. The lease is classified as an operating lease.