Restructuring Activities

6 Months Ended

Jun. 30, 2011

13. Restructuring Activities

During 2009 and 2010, we implemented an organization restructuring in connection with our transformation to a pure play development, exploration and production company. The restructuring resulted in the termination of approximately 30 employees and the transfer of certain corporate and division operations functions from our former Kingsport, Tennessee location to our Houston, Texas and Pittsburgh and Radnor, Pennsylvania locations. We incurred special termination benefit costs, relocation costs and other incremental costs associated with staffing and expanding our office locations.

These restructuring charges are included in the General and administrative expenses caption on our Condensed Consolidated Statements of Income and are comprised of the following for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Termination benefits	$	-	$	5	$	-	$	867
Employee and office relocation costs		52		515		70		675
Other incremental costs		-		150		-		605
Lease assignment charge		-		3,500		-		3,500
	$	52	$	4,170	$	70	$	5,647

The following table summarizes the termination benefit obligations as of and for the six months ended June 30,:

	2011			2010
Balance at beginning of period	$	64		$	529
Termination benefits accrued		-			867
Cash payments		(64	)		(1,396	)
Balance at end of period	$	-		$	-

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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