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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value Disclosures [Abstract]  
Fair Value Summary of Long-Term Debt with Fixed Interest Rates
The following table summarizes the fair value of our long-term debt with fixed interest rates, which is estimated based on the published market prices for these debt obligations as of the dates presented:
 
December 31, 2013
 
December 31, 2012
 
Fair
Value
 
Carrying
Value
 
Fair
Value
 
Carrying
Value
Senior Notes due 2016
$

 
$

 
$
316,500

 
$
294,759

Senior Notes due 2019
307,500

 
300,000

 
286,500

 
300,000

Senior Notes due 2020
837,969

 
775,000

 

 

 
$
1,145,469

 
$
1,075,000

 
$
603,000

 
$
594,759

Assets and Liabilities Measured at Fair Value on Recurring Basis
The following tables summarize the valuation of those assets and liabilities as of the dates presented:
 
 
As of December 31, 2013
 
 
Fair Value
 
Fair Value Measurement Classification
Description
 
Measurement
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 

 
 

 
 

 
 

Commodity derivative assets - current
 
$
3,830

 
$

 
$
3,830

 
$

Commodity derivative assets - noncurrent
 
1,552

 

 
1,552

 

Assets of SERP
 
3,734

 
3,734

 

 

Liabilities:
 
 

 
 

 
 

 
 

Commodity derivative liabilities - current
 

 

 

 

Commodity derivative liabilities - noncurrent
 
(10,141
)
 

 
(10,141
)
 

Deferred compensation - SERP obligation and other
 
(3,879
)
 
(3,879
)
 

 

 
 
As of December 31, 2012
 
 
Fair Value
 
Fair Value Measurement Classification
Description
 
Measurement
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 

 
 

 
 

 
 

Commodity derivative assets - current
 
$
11,292

 
$

 
$
11,292

 
$

Commodity derivative assets - noncurrent
 
5,181

 

 
5,181

 

Assets of SERP
 
3,237

 
3,237

 

 

Liabilities:
 
 

 
 

 
 

 
 

Commodity derivative liabilities - current
 

 

 

 

Commodity derivative liabilities - noncurrent
 
(1,421
)
 

 
(1,421
)
 

Deferred compensation - SERP obligation and other
 
(3,305
)
 
(3,305
)