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Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]



	2012	2013	2014
Oil, Bbl/D:	21,000	15,000	4,000
Natural Gas, MMBtu/D:	—	8,000	—

Schedule of crude oil three way collars entered



Crude Oil Sales (NYMEX WTI) Three-Way Collars
Term	Average Barrels Per Day	Sold Put / Purchased Put / Sold Call
Full year 2014	1,000	$70.00 / $90.00 / $120.00
Full year 2014	1,000	$70.00 / $90.00 / $121.80

Schedule of natural gas purchases three-way collars entered



Natural Gas Purchases (NYMEX SoCal Border) Three-Way Collars
Term	Average MMBtus Per Day	Sold Put / Purchased Call / Sold Call
Full year 2013	1,000	$2.90 / $4.00 / $5.00
Full year 2013	1,000	$2.96 / $4.25 / $5.25
Full year 2013	1,000	$2.70 / $4.00 / $5.00

Schedule of natural gas purchases purchased calls



Natural Gas Purchases (NYMEX SoCal Border) Purchased Calls
Term	Average MMBtus Per Day	Strike Price	Deferred Premium per MMBtu
Full year 2013	1,000	$3.50	$0.43
Full year 2013	1,000	$3.50	$0.46
Full year 2013	1,000	$3.50	$0.4975
Full year 2013	2,000	$3.50	$0.5325

Schedule of derivative assets and liabilities



	June 30, 2012
	Derivative Assets			Derivative Liabilities
(in millions)	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
Current:
Commodity	Derivative assets	$	28.6	Derivative liabilities	$	—
Long term:
Commodity	Derivative assets	20.1		Derivative liabilities	—
Total derivatives		$	48.7		$	—



	December 31, 2011
	Derivative Assets			Derivative Liabilities
(in millions)	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
Current:
Commodity	Derivative assets	$	6.1	Derivative liabilities	$	20.4
Long term:
Commodity	Derivative assets	7.0		Derivative liabilities	15.5
Total derivatives		$	13.1		$	35.9

Summary of (gains) losses before income taxes of derivative instruments recognized in the condensed statements of income (loss)



		Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	Location of (Gain) Loss Recognized in Earnings	Three Months Ended June 30,						Six Months Ended June 30,
Description of (Gain) Loss	Location of (Gain) Loss Recognized in Earnings	2012			2011			2012			2011
Commodity
Loss reclassified from AOCL into earnings (amortization of frozen amounts)	Oil and natural gas sales	$	2.5		$	14.9		$	5.2		$	29.5
(Gain) loss recognized in earnings (cash settlements and mark-to-market movements)	Realized and unrealized (gain) loss on derivatives, net	(113.1		)	(91.8		)	(84.6		)	35.7
Interest rate
(Gain) loss reclassified from AOCL into earnings (amortization of frozen amounts)	Interest	$	(0.9	)	$	0.4		$	(1.5	)	$	1.2

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details