Acquisition and Dispositions of Oil and Gas Properties (Tables)

12 Months Ended

Dec. 31, 2011

Acquisition and Dispositions of Oil and Gas Properties [Abstract]

Schedule of consideration paid and amounts of assets acquired and liabilities assumed

The following table summarizes the consideration paid and the amounts of the assets acquired and liabilities assumed recognized as of September 30, 2010, (including the effects of closing adjustment).

(in thousands)
Consideration given
Cash (net)	$	188,314
Recognized amounts of identifiable assets acquired and liabilities assumed
Proved properties	$	151,747
Unproved leasehold properties	35,360
Accounts receivable	1,461
Asset retirement obligation	(142		)
Accounts payable	(112		)
Total identifiable net assets	$	188,314

The following table summarizes the consideration paid and the amounts of the assets acquired and liabilities assumed recognized as of December 15, 2010, (including the effects of closing adjustments).

(in thousands)
Consideration given
Cash (net)	$	73,630
Recognized amounts of identifiable assets acquired and liabilities assumed
Proved properties	$	41,066
Unproved leasehold properties	32,500
Accounts receivable	143
Asset retirement obligation	(79		)
Total identifiable net assets	$	73,630

The following table summarizes the consideration paid to Range Resources and the amounts of the assets acquired and liabilities assumed recognized as of June 30, 2009 (including the effects of closing adjustments).

(in thousands)
Consideration given to Range Resources
Cash (net)	$	181,249
Recognized amounts of identifiable assets acquired and liabilities assumed
Proved properties	$	182,668
Unproved leasehold properties	3,800
Accounts receivable	4,987
Inventory and other	455
Asset retirement obligation	(6,590		)
Environmental liabilities	(3,124		)
Accounts payable	(947		)
Total identifiable net assets	$	181,249

The following table summarizes the consideration paid and the amounts of the assets acquired and liabilities assumed recognized as of November 16, 2011. The purchase price allocation is preliminary and subject to adjustment as the final closing statement is not complete.

(in thousands)
Consideration given
Cash (net)	$	162,092
Recognized amounts of identifiable assets acquired and liabilities assumed
Proved properties	$	151,544
Unproved leasehold properties	7,883
Accounts receivable	3,151
Accounts payable	(344		)
Asset retirement obligation	(142		)
Total identifiable net assets	$	162,092

The following table summarizes the consideration paid and the amounts of the assets acquired and liabilities assumed recognized as of December 27, 2011. The purchase price allocation is preliminary and subject to adjustment as the final closing statement is not complete.

(in thousands)
Consideration given
Cash (net)	$	55,994
Recognized amounts of identifiable assets acquired and liabilities assumed
Proved properties	$	32,045
Unproved leasehold properties	23,686
Accounts receivable	680
Accounts payable	(244		)
Asset retirement obligation	(173		)
Total identifiable net assets	$	55,994

Schedule of oil and gas property acquisition, pro forma information

Summarized below are the consolidated results of operations for the year ended December 31, 2009, on an unaudited pro forma basis as if the acquisition had occurred at the beginning of the period presented. The pro forma information is based on the Company's consolidated results of operations for the year ended December 31, 2009, and on the data provided by the seller. The pro forma financial information does not purport to be indicative of results of operations that would have occurred had the transaction occurred on the basis assumed above, nor are they indicative of results of the future operations of the combined enterprises.

Year ended December 31, (in thousands)	2009
Operating revenues	$	1,458,995
Operating income	$	439,624