Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2011

Commodity Derivative Positions

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

		Average
		Volume Per		Weighted Average Price				Fair Value
	Instrument	Day		Floor/Swap		Ceiling		Asset		Liability
Natural Gas:		(in MMBtu)		($/MMBtu)
Fourth quarter 2011	Costless collars		20,000	$	6.00	$	8.50	$	4,047	$	-
First quarter 2012	Costless collars		20,000	$	6.00	$	8.50		3,405		-
Fourth quarter 2011	Swaps		10,000	$	5.01				1,114		-
First quarter 2012	Swaps		10,000	$	5.10				881		-
Second quarter 2012	Swaps		20,000	$	5.31				2,117		-
Third quarter 2012	Swaps		20,000	$	5.31				1,952		-
Fourth quarter 2012	Swaps		10,000	$	5.10				557		-
Crude Oil:		(barrels)		($/barrel)
Fourth quarter 2011	Costless collars		360	$	80.00	$	103.30		168		-
First quarter 2012	Costless collars		500	$	100.00	$	120.00		983		-
Second quarter 2012	Costless collars		500	$	100.00	$	120.00		986		-
Third quarter 2012	Costless collars		500	$	100.00	$	120.00		974		-
Fourth quarter 2012	Costless collars		500	$	100.00	$	120.00		951		-
Fourth quarter 2011	Swaps		500	$	109.00				1,709		-
								$	19,844	$	-

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				September 30,		December 31,
Term	Amount		Pay	Receive			2011		2010
Through June 2013	$	100,000	LIBOR + 8.175%		10.375	%	$	-	$	2,590

1 References to LIBOR represent the 3-month rate.

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 September 30,						Nine Months Ended September 30,
	2011			2010			2011			2010
Impact by contract type:
Commodity contracts	$	11,293		$	13,381		$	18,598		$	38,733
Interest rate contracts		205			1,732			1,229			5,677
	$	11,498		$	15,113		$	19,827		$	44,410
Realized and unrealized impact:
Cash received (paid) for:
Commodity contract settlements	$	5,607		$	7,433		$	16,484		$	25,257
Interest rate contract settlements		2,920			(630	)		3,818			(970	)
		8,527			6,803			20,302			24,287
Unrealized gains (losses) attributable to:
Commodity contracts		5,686			5,948			2,114			13,476
Interest rate contracts		(2,715	)		2,362			(2,589	)		6,647
		2,971			8,310			(475	)		20,123
	$	11,498		$	15,113		$	19,827		$	44,410

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
		September 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	$	-	$	-	$	1,743	$	-
Commodity contracts	Derivative assets/liabilities - current		18,336		-		15,075		388
			18,336		-		16,818		388
Interest rate contracts	Derivative assets/liabilities - noncurrent		-		-		847		-
Commodity contracts	Derivative assets/liabilities - noncurrent		1,508		-		3,042		-
			1,508		-		3,889		-
		$	19,844	$	-	$	20,707	$	388