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Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of oil derivative contracts volume and weighted average price
The following table sets forth the volumes per day in barrels ("BBLs") associated with the Company's outstanding oil derivative contracts as of March 31, 2013 and the weighted average oil prices per BBL for those contracts: 
 
 
Nine Months Ending December 31,
 
Year Ending December 31,
 
 
2013
 
2014
 
2015
Collar contracts with short puts:
 
 
 
 
 
 
Volume (BBL)
 
72,430

 
69,000

 
26,000

Average price per BBL:
 
 
 
 
 
 
Ceiling
 
$
119.89

 
$
114.05

 
$
104.45

Floor
 
$
92.26

 
$
93.70

 
$
95.00

Short put
 
$
74.36

 
$
77.61

 
$
80.00

Swap contracts:
 
 
 
 
 
 
Volume (BBL)
 
3,000

 
—

 
—

Average price per BBL
 
$
81.02

 
$
—

 
$
—

Rollfactor swap contracts:
 
 
 
 
 
 
Volume (BBL)
 
6,000

 
15,000

 
—

NYMEX roll price (a)
 
$
0.43

 
$
0.38

 
$
—

Basis swap contracts:
 
 
 
 
 
 
Midland-Cushing index swap volume (BBL)
 
1,655

 
—

 
—

Average price per BBL (b)
 
$
(5.75
)
 
$
—

 
$
—

Cushing-LLS index swap volume (BBL)
 
669

 
—

 
—

Average price per BBL (c)
 
$
(9.30
)
 
$
—

 
$
—

 ____________________
(a)
Represents swaps that fix the difference between (i) each day's price per BBL of WTI for the first nearby month less (ii) the price per BBL of WTI for the second nearby NYMEX month, multiplied by .6667; plus (iii) each day's price per BBL of WTI for the first nearby month less (iv) the price per BBL of WTI for the third nearby NYMEX month, multiplied by .3333.
(b)
Basis differential price between Midland WTI and Cushing WTI.
(c)
Basis differential price between Cushing WTI and Louisiana Light Sweet crude "LLS".
Schedule of NGL derivative volumes and weighted average prices
The following table sets forth the volumes per day in BBLs associated with the Company's outstanding NGL derivative contracts as of March 31, 2013 and the weighted average NGL prices per BBL for those contracts: 
 
 
Nine Months Ending December 31,
 
Year Ending December 31,
 
 
2013
 
2014
Collar contracts with short puts:
 
 
 
 
Volume (BBL)
 
1,064

 
1,000

Average price per BBL:
 
 
 
 
Ceiling
 
$
105.28

 
$
109.50

Floor
 
$
89.30

 
$
95.00

Short put
 
$
75.20

 
$
80.00
Schedule of gas derivative volume and weighted average prices
The following table sets forth the volumes per day in millions of British thermal units ("MMBTU") associated with the Company's outstanding gas derivative contracts as of March 31, 2013 and the weighted average gas prices per MMBTU for those contracts: 
 
 
Nine Months Ending December 31,
 
Year Ending December 31,
 
 
2013
 
2014
 
2015
 
2016
Collar contracts with short puts:
 
 
 
 
 
 
 
 
Volume (MMBTU) (a)
 
—

 
65,000

 
235,000

 
20,000

Price per MMBTU:
 
 
 
 
 
 
 
 
Ceiling
 
$
—

 
$
4.70

 
$
5.09

 
$
5.36

Floor
 
$
—

 
$
4.00

 
$
4.00

 
$
4.00

Short put
 
$
—

 
$
3.00

 
$
3.00

 
$
3.00

Collar contracts:
 
 
 
 
 
 
 
 
Volume (MMBTU) (a)
 
150,000

 
—

 
—

 
—

Price per MMBTU:
 
 
 
 
 
 
 
 
Ceiling
 
$
6.25

 
$
—

 
$
—

 
$
—

Floor
 
$
5.00

 
$
—

 
$
—

 
$
—

Swap contracts:
 
 
 
 
 
 
 
 
Volume (MMBTU)
 
170,282

 
175,000

 
20,000

 
—

Price per MMBTU
 
$
5.07

 
$
4.02

 
$
4.31

 
$
—

Basis swap contracts:
 
 
 
 
 
 
 
 
Volume (MMBTU) (a)
 
162,500

 
10,000

 
—

 
—

Price per MMBTU
 
$
(0.22
)
 
$
(0.19
)
 
$
—

 
$
—

____________________
(a)
Subsequent to March 31, 2013, the Company entered into additional (i) collar contracts for 2,500 MMBTUs per day of the Company's June through December 2013 production with a ceiling price of $4.50 per MMBTU and a floor price of $4.00 per MMBTU, (ii) collar contracts with short puts for 50,000 MMBTUs per day of the Company's 2014 production with a ceiling price of $4.70 per MMBTU, a floor price of $4.00 per MMBTU and a short put price of $3.00 per MMBTU, (iii) collar contracts with short puts for 50,000 MMBTUs per day of the Company's 2015 production with a ceiling price of $5.03 per MMBTU, a floor price of $4.00 per MMBTU and a short put price of $3.00 per MMBTU, (iv) basis swap contracts for 22,500 MMBTU per day of the Company's 2014 production with a negative price differential of $0.18 per MMBTU between the relevant index price and the NYMEX price and (v) basis swap contracts for 7,500 MMBTU per day of the Company's 2015 production with a negative price differential of $0.13 per MMBTU between the relevant index price and the NYMEX price.
Schedule of marketing and basis transfer derivative contracts
The following table sets forth the contract volumes associated with the Company's outstanding marketing derivative contracts as of March 31, 2013 and the weighted average prices for those contracts: 
 
Nine Months Ending December 31,
 
2013
Average Daily Gas Production Associated with Marketing Derivatives:
 
Basis swap contracts:
 
Index swap volume (MMBTU)
4,364

Price differential ($/MMBTU)
$
0.34
Offsetting Asset and Liability [Table Text Block]
The aggregate fair value of the Company's derivative instruments reported in the consolidated balance sheets by commodity and counterparty, including the classification between current and noncurrent assets and liabilities, consists of the following:
 
Fair Value of Derivative Instruments as of March 31, 2013
Type
 
Consolidated Balance Sheet
Location
 
Fair
Value
 
Gross Amounts Offset in the Consolidated Balance Sheet
 
Net Fair Value Presented in the Consolidated Balance Sheet
 
 
 
 
(in thousands)
Derivatives not designated as hedging instruments
 
 
 
 
 
 
Asset Derivatives:
 
 
 
 
 
 
Commodity price derivatives
 
Derivatives - current
 
$
160,149

 
$
(8,718
)
 
$
151,431

Commodity price derivatives
 
Derivatives - noncurrent
 
$
100,090

 
$
(4,969
)
 
95,121

 
 
 
 
 
 
 
 
$
246,552

Liability Derivatives:
 

 
 
 
 
Commodity price derivatives
 
Derivatives - current
 
$
29,131

 
$
(8,718
)
 
$
20,413

Commodity price derivatives
 
Derivatives - noncurrent
 
$
12,557

 
$
(4,969
)
 
7,588

Interest rate derivatives
 
Derivatives - noncurrent
 
$
5,784

 
$
—

 
5,784

 
 
 
 
 
 
 
 
$
33,785


Fair Value of Derivative Instruments as of December 31, 2012
Type
 
Consolidated Balance Sheet
Location
 
Fair
Value
 
Gross Amounts Offset in the Consolidated Balance Sheet
 
Net Fair Value Presented in the Consolidated Balance Sheet
 
 
 
 
(in thousands)
Derivatives not designated as hedging instruments
 
 
 
 
 
 
Asset Derivatives:
 
 
 
 
 
 
Commodity price derivatives
 
Derivatives - current
 
$
286,805

 
$
(7,686
)
 
$
279,119

Commodity price derivatives
 
Derivatives - noncurrent
 
$
61,618

 
$
(6,361
)
 
55,257

 
 
 
 
 
 
 
 
$
334,376

Liability Derivatives:
 
 
 
 
 
 
Commodity price derivatives
 
Derivatives - current
 
$
21,102

 
$
(7,686
)
 
$
13,416

Commodity price derivatives
 
Derivatives - noncurrent
 
$
8,944

 
$
(6,361
)
 
2,583

Interest rate derivatives
 
Derivatives - noncurrent
 
$
9,724

 
$
—

 
9,724

 
 
 
 
 
 
 
 
$
25,723
Schedule of derivative obligations under terminated hedge arrangements
Derivatives in Cash Flow Hedging
 
Location of (Gain)/Loss Reclassified from
 
 
 
 
Three Months Ended
March 31,
Relationships
 
AOCI into Earnings
 
2013
 
2012
 
 
 
 
(a)
 
 
Commodity price derivatives
 
Oil and gas revenue
 
$
—

 
$
809

Interest rate derivatives
 
Interest expense
 
—

 
1,699

Total
 
 
 
$
—

 
$
2,508

____________________
(a)
During 2012, all remaining Accumulated Other Comprehensive Income ("AOCI") related to hedging was transferred to earnings.
 
 
 
 
 
 
 
Derivatives Not Designated as Hedging
 
Location of (Gain) Loss Recognized in
 
Three Months Ended
March 31,
Instruments
 
Earnings on Derivatives
 
2013
 
2012
 
 
 
 
 
 
 
Commodity price derivatives
 
Derivative (gains) losses, net
 
$
46,183

 
$
(88,130
)
Interest rate derivatives
 
Derivative (gains) losses, net
 
(3,940
)
 
(3,620
)
Total
 
 
 
$
42,243

 
$
(91,750
)