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Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 30,571 $ 31,997
Restricted cash 164,042 155,925
Accounts receivable, net:    
Oil and natural gas 49,133 88,518
Joint interest 130,183 170,918
Interest and other 28,392 28,488
Inventory 8,101 8,345
Derivative financial instruments 171,182 164,002
Other 21,246 29,815
Total current assets 602,850 678,008
Equity investments 295,064 302,833
Oil and natural gas properties (full cost accounting method):    
Unproved oil and natural gas properties and development costs not being amortized 623,268 667,342
Proved developed and undeveloped oil and natural gas properties 3,320,977 3,392,146
Accumulated depletion (1,742,681) (1,657,165)
Oil and natural gas properties, net 2,201,564 2,402,323
Gas gathering assets 136,740 136,203
Accumulated depreciation and amortization (30,767) (29,104)
Gas gathering assets, net 105,973 107,099
Office, field, and other equipment, net 41,228 42,384
Deferred financing costs, net 28,101 29,622
Derivative financial instruments 10,073 11,034
Goodwill 218,256 218,256
Other assets 28 28
Total assets 3,503,137 3,791,587
Current liabilities:    
Accounts payable and accrued liabilities 126,790 117,968
Revenues and royalties payable 117,657 148,926
Accrued interest payable 3,713 17,973
Current portion of asset retirement obligations 732 732
Income taxes payable 0 0
Derivative financial instruments 3,447 1,800
Total current liabilities 252,339 287,399
Long-term debt 1,918,106 1,887,828
Deferred income taxes 0 0
Derivative financial instruments 852 0
Asset retirement obligations and other long-term liabilities 59,006 58,028
Commitments and contingencies      
Shareholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 authorized shares; none issued and outstanding 0 0
Common stock, $0.001 par value; 350,000,000 authorized shares; 217,197,701 shares issued and 216,658,480 shares outstanding at March 31, 2012; 217,245,504 shares issued and 216,706,283 shares outstanding at December 31, 2011 215 215
Additional paid-in capital 3,185,877 3,181,063
Accumulated deficit (1,905,779) (1,615,467)
Treasury stock, at cost; 539,221 shares at March 31, 2012 and December 31, 2011 (7,479) (7,479)
Total shareholders' equity 1,272,834 1,558,332
Total liabilities and shareholders' equity $ 3,503,137 $ 3,791,587