Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Commodity Derivative Positions

The following table sets forth our commodity derivative positions as of June 30, 2012:

		Average Volume Per Day	Weighted Average Price				Fair Value
	Instrument		Floor/Swap		Ceiling		Asset		Liability
Natural Gas:		(in MMBtu)	($/MMBtu)
Third quarter 2012	Swaps	20,000	$	5.31			$	4,594	$	—
Fourth quarter 2012	Swaps	10,000	$	5.10			1,824		—
Crude Oil:		(barrels)	($/barrel)
Third quarter 2012	Collars	1,000	$	90.00	$	97.00	519		—
Fourth quarter 2012	Collars	1,000	$	90.00	$	97.00	512		—
First quarter 2013	Collars	1,000	$	90.00	$	100.00	518		—
Second quarter 2013	Collars	1,000	$	90.00	$	100.00	491		—
Third quarter 2013	Collars	1,000	$	90.00	$	100.00	503		—
Fourth quarter 2013	Collars	1,000	$	90.00	$	100.00	521		—
Third quarter 2012	Swaps	3,000	$	104.40			5,204		—
Fourth quarter 2012	Swaps	3,000	$	104.40			4,817		—
First quarter 2013	Swaps	2,250	$	103.51			3,108		—
Second quarter 2013	Swaps	2,250	$	103.51			3,004		—
Third quarter 2013	Swaps	1,500	$	102.77			1,916		—
Fourth quarter 2013	Swaps	1,500	$	102.77			1,940		—
First quarter 2014	Swaps	2,000	$	100.44			2,166		—
Second quarter 2014	Swaps	2,000	$	100.44			2,232		—
Third quarter 2014	Swaps	1,500	$	100.20			1,687		—
Fourth quarter 2014	Swaps	1,500	$	100.20			1,699		—
First quarter 2013	Swaption	1,100	$	100.00			—		290
Second quarter 2013	Swaption	1,000	$	100.00			—		241
Third quarter 2013	Swaption	900	$	100.00			—		180
Fourth quarter 2013	Swaption	750	$	100.00			—		117
First quarter 2014	Swaption	812	$	100.00			—		338
Second quarter 2014	Swaption	812	$	100.00			—		338
Third quarter 2014	Swaption	812	$	100.00			—		339
Fourth quarter 2014	Swaption	812	$	100.00			—		339
Settlements to be received in subsequent period							2,086		—

Impact of Derivative Activities on Condensed Consolidated Statements of Income

The impact of our derivative activities on income is included in the Derivatives caption on our Condensed Consolidated Statements of Operations. The following table summarizes the effects of our derivative activities for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Impact by contract type:
Commodity contracts	$	41,821	$	5,997	$	42,115	$	7,305
Interest rate contracts	2,005		1,004		1,406		1,024
	$	43,826	$	7,001	$	43,521	$	8,329
Realized and unrealized impact:
Cash received for:
Commodity contract settlements	$	5,564	$	4,133	$	13,545	$	10,877
Interest rate contract settlements	1,406		898		1,406		898
	6,970		5,031		14,951		11,775
Unrealized gains (losses) attributable to:
Commodity contracts	36,257		1,864		28,570		(3,572		)
Interest rate contracts	599		106		—		126
	36,856		1,970		28,570		(3,446		)
	$	43,826	$	7,001	$	43,521	$	8,329

Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets

The following table summarizes the fair value of our derivative instruments, as well as the locations of these instruments, on our Condensed Consolidated Balance Sheets as of the dates presented:

		Fair Values as of
		June 30, 2012				December 31, 2011
Type	Balance Sheet Location	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
Commodity contracts	Derivative assets/liabilities - current	$	26,763	$	617	$	18,987	$	3,549
Interest rate contracts	Derivative assets/liabilities - current	—		—		—		—
		26,763		617		18,987		3,549
Commodity contracts	Derivative assets/liabilities - noncurrent	12,664		1,651		—		6,850
Interest rate contracts	Derivative assets/liabilities - noncurrent	—		—		—		—
		12,664		1,651		—		6,850
		$	39,427	$	2,268	$	18,987	$	10,399