Subsequent Events

12 Months Ended

Dec. 31, 2011

Subsequent Events [Abstract]

Subsequent Events

NOTE V.     Subsequent Events

During January 2012, the Company sold a portion of its interest in an unproved oil and gas property in the Eagle Ford Shale to unaffiliated third parties for proceeds of $54.8 million. Associated therewith, the Company expects to record a pretax gain of $40 million to $43 million during the three months ended March 31, 2012.

On February 23, 2012, the Board declared a cash dividend of $.04 per share on the Company's outstanding common stock. The dividend is payable April 12, 2012 to stockholders of record at the close of business on March 30, 2012.

The Company has evaluated subsequent events through the date of issuance of the consolidated financial statements. Except as described above, the Company is not aware of any reportable subsequent events.