Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2011

Commodity Derivative Positions

The following table sets forth our commodity derivative positions as of June 30, 2011:

		Average
		Volume Per		Weighted Average Price				Fair Value
	Instrument	Day		Floor/Swap		Ceiling		Asset		Liability
		(in MMBtu)
Natural Gas:
Third quarter 2011	Costless collars		30,000	$	4.83	$	6.00	$	1,615	$	-
Fourth quarter 2011	Costless collars		20,000	$	6.00	$	8.50		2,703		-
First quarter 2012	Costless collars		20,000	$	6.00	$	8.50		2,349		-
Third quarter 2011	Swaps		40,000	$	5.06				2,532		-
Fourth quarter 2011	Swaps		10,000	$	5.01				399		-
First quarter 2012	Swaps		10,000	$	5.10				250		-
Second quarter 2012	Swaps		20,000	$	5.31				1,098		-
Third quarter 2012	Swaps		20,000	$	5.31				935		-
Fourth quarter 2012	Swaps		10,000	$	5.10				76		-
Crude Oil:		(barrels)
Third quarter 2011	Costless collars		360	$	80.00	$	103.30		-		24
Fourth quarter 2011	Costless collars		360	$	80.00	$	103.30		-		91
First quarter 2012	Costless collars		500	$	100.00	$	120.00		317		-
Second quarter 2012	Costless collars		500	$	100.00	$	120.00		300		-
Third quarter 2012	Costless collars		500	$	100.00	$	120.00		292		-
Fourth quarter 2012	Costless collars		500	$	100.00	$	120.00		295		-
Third quarter 2011	Swaps		500	$	109.00				591		-
Fourth quarter 2011	Swaps		500	$	109.00				520		-
								$	14,272	$	115

Interest Rate Swap Terms and Positions

The following table sets forth the terms and positions of our interest rate swap assets as of the periods presented:

	Notional		Swap Interest Rates1				June 30,		December 31,
Term	Amount		Pay	Receive			2011		2010
Through June 2013	$	100,000	LIBOR + 8.175%		10.375	%	$	2,715	$	2,590

Impact of Derivative Activities on the Condensed Consolidated Statements of Income

The following table summarizes the effects of our derivative activities for the periods presented:

	Three Months Ended June 30,					Six Months Ended June 30,
	2011		2010			2011			2010
Impact by contract type:
Commodity contracts	$	5,997	$	(2,860	)	$	7,305		$	25,352
Interest rate contracts		1,004		2,280			1,024			3,945
	$	7,001	$	(580	)	$	8,329		$	29,297
Realized and unrealized impact:
Cash received (paid) for:
Commodity contract settlements	$	4,133	$	8,789		$	10,877		$	17,824
Interest rate contract settlements		898		262			898			(340	)
		5,031		9,051			11,775			17,484
Unrealized gains (losses) attributable to:
Commodity contracts		1,864		(11,649	)		(3,572	)		7,528
Interest rate contracts		106		2,018			126			4,285
		1,970		(9,631	)		(3,446	)		11,813
	$	7,001	$	(580	)	$	8,329		$	29,297

Fair Value of Derivative Instruments on the 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 periods presented:

		Fair Values as of
		June 30, 2011				December 31, 2010
Derivative		Derivative		Derivative		Derivative		Derivative
Instrument	Balance Sheet Location	Assets		Liabilities		Assets		Liabilities
Interest rate contracts	Derivative assets/liabilities - current	$	1,765	$	-	$	1,743	$	-
Commodity contracts	Derivative assets/liabilities - current		12,675		115		15,075		388
			14,440		115		16,818		388
Interest rate contracts	Derivative assets/liabilities - noncurrent		950		-		847		-
Commodity contracts	Derivative assets/liabilities - noncurrent		1,597		-		3,042		-
			2,547		-		3,889		-
		$	16,987	$	115	$	20,707	$	388