Derivative Instrument and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the fair value amounts of the Company’s asset and liability derivative instruments and their location reported in the unaudited interim Condensed Consolidated Balance Sheet at the dates indicated:

	Fair Value (1)
	Asset Derivatives				Liability Derivatives
	Successor		Predecessor		Successor		Predecessor
Balance Sheet Location	June 30, 2012		December 31, 2011		June 30, 2012		December 31, 2011
Cash Flow Hedges:
Interest rate contracts
Derivative instruments — liabilities	$	—	$	—	$	—	$	19,936
Deferred credits	—		—		—		59,789
Commodity contracts — Gathering and Processing:
Natural gas price swaps
Prepayments and other assets	3,571		6,124		—		—
Accounts payable — related parties	—		—		2,365		—
Deferred credits	—		—		2,145		—
NGL price swaps
Prepayments and other assets	11,319		—		—		1,996
Derivative instruments — liabilities	—		—		—		4,144
	$	14,890	$	6,124	$	4,510	$	85,865
Economic Hedges:
Interest rate contracts
Derivative instruments — liabilities	$	—	$	—	$	16,432	$	—
Deferred credits	—		—		68,314		—
Commodity contracts — Gathering and Processing:
Other derivative instruments
Derivative instruments — liabilities	—		—		—		50
Commodity contracts — Distribution:
Natural gas price swaps
Derivative instruments — liabilities	—		—		17,763		34,468
Deferred credits	—		3		291		5,643
	$	—	$	3	$	102,800	$	40,161
Total	$	14,890	$	6,127	$	107,310	$	126,026

⁽¹⁾  The Company has master netting arrangements with certain of its counterparties, which permit applicable obligations of the parties to be settled on a net versus gross basis.  If a right of offset exists, the fair value amounts for the derivative instruments are reported in the unaudited interim Condensed Consolidated Balance Sheet on a net basis and disclosed herein on a gross basis.

Derivatives Effect On Income Table

The following tables summarize the location and amount (excluding income tax effects) of derivative instrument gains and losses reported in the Company’s unaudited interim condensed consolidated financial statements for the periods presented:

	Successor			Predecessor
	Three months ended June 30, 2012			Three months ended June 30, 2011
Cash Flow Hedges:  (1)
Interest rate contracts:
Change in fair value - increase in Accumulated other comprehensive income	$	—		$	18,478
Reclassification of unrealized loss from Accumulated other comprehensive income - increase of Interest expense	—			5,615
Commodity contracts - Gathering and Processing:
Change in fair value - increase/(decrease) in Accumulated other comprehensive income	9,591			(538		)
Reclassification of unrealized gain from Accumulated other comprehensive income - increase of Operating revenues	5,536			4,655
Economic Hedges:
Interest rate contracts:
Change in fair value - increase in interest expense	18,243			—
Commodity contracts - Gathering and Processing:
Change in fair value of hedges - decrease in Operating revenues	—			7,131
Commodity contracts - Distribution:
Change in fair value - increase/(decrease) in Deferred natural gas purchases	(20,095		)	(4,279		)

	Successor			Predecessor
	Period from Acquisition (March 26, 2012) to June 30, 2012			Period from January 1, 2012 to March 25, 2012			Six months ended June 30, 2011
Cash Flow Hedges:  (1)
Interest rate contracts:
Change in fair value - increase in Accumulated other comprehensive income	$	—		$	6,174		$	20,748
Reclassification of unrealized loss from Accumulated other comprehensive income - increase of Interest expense	—			8,085			11,166
Commodity contracts - Gathering and Processing:
Change in fair value - increase in Accumulated other comprehensive income	11,377			4,619			1,014
Reclassification of unrealized gain from Accumulated other comprehensive income	5,536			2,043			9,184
Economic Hedges:
Interest rate contracts:
Change in fair value - increase in interest expense	19,709			—			—
Commodity contracts - Gathering and Processing:
Change in fair value of other hedges - decrease in Operating revenues	—			50			23,648
Commodity contracts - Distribution:
Change in fair value - decrease in Deferred natural gas purchases	(20,095		)	(1,957		)	(23,772		)

⁽¹⁾  See Note 5 – Comprehensive Income (Loss) for related income tax amounts.