Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position Fair Value

The following sets forth a summary of the distribution of net fair value of the Company’s derivative instruments:

Counterparty	June 30, 2013		December 31, 2012
Credit Suisse	38	%	40	%
Societe Generale	35	%	22	%
Wells Fargo	13	%	2	%
BNP Paribas	13	%	33	%
BBVA Compass	1	%	3	%
Total	100	%	100	%

Schedule Of U.S. Natural Gas Derivative Positions

The following sets forth a summary of the Company’s natural gas derivative positions at average NYMEX prices as of June 30, 2013:

Period	Volumes (in MMBtu)	Weighted Average Floor Price ($/MMBtu)		Weighted Average Ceiling Price ($/MMBtu)
2013	10,120,000	$	4.58	$	4.58
2014	18,250,000	$	4.07	$	4.36
2015	3,650,000	$	4.33	$	4.33

Schedule Of U.S. Crude Oil Derivative Positions

The following sets forth a summary of the Company’s crude oil derivative positions at average NYMEX prices as of June 30, 2013:

Period	Volumes (in Bbls)	Weighted Average Floor  Price ($/Bbl)		Weighted Average Ceiling  Price ($/Bbl)
2013	1,766,400	$	90.17	$	100.87
2014	3,375,500	$	90.59	$	96.99
2015	1,806,750	$	89.41	$	94.96
2016	244,000	$	85.00	$	104.00

Schedule of U.S. Crude Oil Protective Put Spreads

In connection with the crude oil derivative instruments above, the Company has entered into protective put spreads. For example, during 2014, at market prices below the short put price of $65.00, the floor price becomes the market price plus the put spread of $20.00 on 182,500 of the 3,375,500 Bbls and the remaining 3,193,000 Bbls would have a floor price of $90.59.

Period	Volumes (in Bbls)	Weighted Average Short Put  Price ($/Bbl)		Weighted Average Put Spread ($/Bbl)
2014	182,500	$	65.00	$	20.00
2015	365,000	$	65.00	$	20.00
2016	244,000	$	65.00	$	20.00

Schedule Of Derivative Instruments

For the three and six months ended June 30,2013 and 2012, the Company recorded the following related to its oil and gas derivative instruments:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
	(In thousands)
Realized gain (loss) on derivative instruments, net	$	2,291	$	9,962	$	8,006	$	21,095
Unrealized gain (loss) on derivative instruments, net	23,435		27,928		3,166		20,598
Gain (loss) on derivative instruments, net	$	25,726	$	37,890	$	11,172	$	41,693