Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Derivative Financial Instruments [Abstract]

Oil Derivative Contracts Volume And Weighted Average Price

	2012		2013		2014
Swap contracts:
Volume (Bbl)		3,000		3,000		—
Average price per Bbl	$	79.32	$	81.02	$	—
Collar contracts:
Volume (Bbl)		2,000		—		—
Average price per Bbl:
Ceiling	$	127.00	$	—	$	—
Floor	$	90.00	$	—	$	—
Collar contracts with short puts: (a)
Volume (Bbl)		41,610		34,000		10,000
Average price per Bbl:
Ceiling	$	118.24	$	119.38	$	127.46
Floor	$	82.36	$	84.35	$	87.50
Short put	$	66.52	$	66.56	$	72.50

(a) During the period from January 1, 2012 to February 24, 2012, the Company entered into additional collar contracts with short puts for (i) 8,500 Bbls per day of the Company's July through September 2012 production with a ceiling price of $120.47 per Bbl, a floor price of $95.00 per Bbl and a short put price of $80.00 per Bbl, (ii) 11,500 Bbls per day of the Company's October through December 2012 production with a ceiling price of $121.10 per Bbl, a floor price of $95.00 per Bbl and a short put price of $80.00 per Bbl, (iii) 32,250 Bbls per day of the Company's 2013 production with a ceiling price of $121.62 per Bbl, a floor price of $93.45 per Bbl and a short put price of $76.90 per Bbl and (iv) 13,000 Bbls per day of the Company's 2014 production with a ceiling price of $118.78 per Bbl, a floor price of $90.00 per Bbl and a short put price of $70.00 per Bbl.

Gas Volume And Weighted Average Price

	2012			2013			2014			2015
Swap contracts: (a)
Volume (MMBtu)		105,000			67,500			50,000			—
Price per MMBtu	$	5.82		$	6.11		$	6.05		$	—
Collar contracts:
Volume (MMBtu)		65,000			150,000			140,000			50,000
Price per MMBtu:
Ceiling	$	6.60		$	6.25		$	6.44		$	7.92
Floor	$	5.00		$	5.00		$	5.00		$	5.00
Collar contracts with short puts: (a)
Volume (MMBtu)		170,000			45,000			60,000			30,000
Price per MMBtu:
Ceiling	$	7.92		$	7.49		$	7.80		$	7.11
Floor	$	6.07		$	6.00		$	5.83		$	5.00
Short put	$	4.50		$	4.50		$	4.42		$	4.00
Basis swap contracts:
Volume (MMBtu)		136,000			142,500			115,000			—
Price per MMBtu	$	(0.34	)	$	(0.22	)	$	(0.23	)	$	—

(a) During the period from January 1, 2012 to February 24, 2012, the Company (i) entered into offsetting swap contracts for 20,000 MMBtus per day of the Company's March 2012 production with a fixed price of $2.41, (ii) converted 95,000 MMBtus per day of the Company's February through December 2012 collar contracts with short puts to swap contracts with a fixed price of $4.47 per MMBtu , (iii) converted 75,000 MMBtus per day of the Company's March through December 2012 collar contracts with short puts to swap contracts with a fixed price of $4.41 per MMBtu and (iii) converted 45,000 MMBtus per day of the Company's 2013 collar contracts with short puts to swap contracts with a fixed price of $4.88 per MMbtu.

Derivative Instruments

Fair Value of Derivative Instruments as of December 31, 2011
	Asset Derivatives (a)			Liability Derivatives (a)
Type	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
		(in thousands)			(in thousands)
Derivatives not designated as hedging instruments
Commodity price derivatives	Derivatives - current	$	248,809	Derivatives - current	$	68,735
Interest rate derivatives	Derivatives - current		—	Derivatives - current		15,654
Commodity price derivatives	Derivatives - noncurrent		257,368	Derivatives -noncurrent		47,689
Interest rate derivatives	Derivatives - noncurrent		—	Derivatives - noncurrent		—
		$	506,177		$	132,078
Fair Value of Derivative Instruments as of December 31, 2010
	Asset Derivatives (a)			Liability Derivatives (a)
Type	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
		(in thousands)			(in thousands)
Derivatives not designated as hedging instruments
Commodity price derivatives	Derivatives - current	$	167,406	Derivatives - current	$	87,741
Interest rate derivatives	Derivatives - current		11,903	Derivatives - current		886
Commodity price derivatives	Derivatives - noncurrent		152,731	Derivatives - noncurrent		64,829
Interest rate derivatives	Derivatives - noncurrent		15,762	Derivatives - noncurrent		9,227
Total derivatives not designated as hedging instruments		$	347,802		$	162,683

(a) Derivative assets and liabilities shown in the tables above are presented as gross assets and liabilities, without regard to master netting arrangements which are considered in the presentations of derivative assets and liabilities in the accompanying consolidated balance sheets.

Derivative Obligations Under Terminated Hedge Arrangements

	Amount of Gain/(Loss) Recognized in AOCI on Effective Portion
	Year Ended December 31,
Derivatives in Cash Flow Hedging Relationships	2011		2010		2009
	(in thousands)
Interest rate derivatives	$	—	$	—	$	(433	)
Commodity price derivatives		—		—		13,407
Total	$	—	$	—	$	12,974

	Location of Gain/(Loss)	Amount of Gain/(Loss) Reclassified from AOCI into Earnings
	Reclassified from AOCI	Year Ended December 31,
Derivatives in Cash Flow Hedging Relationships	into Earnings	2011			2010			2009
		(in thousands)
Interest rate derivatives	Interest expense	$	(282	)	$	(1,698	)	$	(6,835	)
Interest rate derivatives	Derivative gains (losses), net		—			(2,465	)		—
Commodity price derivatives	Oil and gas revenue		32,918			89,040			121,066
Total		$	32,636		$	84,877		$	114,231

Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Earnings on Derivatives	Amount of Gain (Loss) Recognized in Earnings on Derivatives
		Year Ended December 31,
		2011		2010		2009
		(in thousands)
Interest rate derivatives	Derivative gains (losses), net	$	3,098	$	36,597	$	(15,423	)
Commodity price derivatives	Derivative gains (losses), net		389,654		414,302		(180,134	)
Total		$	392,752	$	450,899	$	(195,557	)