XML 19 R29.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivative Instruments (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
2014 | Oil derivative instruments | Swap
   
Derivative    
Hedged volume (MBbls) 2,484  
Average price ($/Bbl) 91.26  
2014 | Oil derivative instruments | Crude Oil Sales - Collars
   
Derivative    
Hedged volume (MBbls) 368  
Derivative, floor price ($/Bbl) 90.00  
Derivative, cap price ($/Bbl) 102.87  
2014 | Oil derivative instruments | Crude Oil Sales - Three-way collars - Derivative 1
   
Derivative    
Hedged volume (MBbls) 1,564  
2014 | Oil derivative instruments | Crude Oil Sales - Three-way collars - Derivative 2
   
Derivative    
Hedged volume (MBbls) 184  
2014 | Oil derivative instruments | Short | Crude Oil Sales - Three-way collars - Derivative 1
   
Derivative    
Derivative, floor price ($/Bbl) 72.11  
Derivative, cap price ($/Bbl) 109.79  
2014 | Oil derivative instruments | Short | Crude Oil Sales - Three-way collars - Derivative 2
   
Derivative    
Derivative, floor price ($/Bbl) 80.00  
Derivative, cap price ($/Bbl) 114.05  
2014 | Oil derivative instruments | Long | Crude Oil Sales - Three-way collars - Derivative 1
   
Derivative    
Derivative, floor price ($/Bbl) 93.76  
2014 | Oil derivative instruments | Long | Crude Oil Sales - Three-way collars - Derivative 2
   
Derivative    
Derivative, floor price ($/Bbl) 100.00  
2014 | Oil basis differential commodity contract | ICE Brent - NYMEX WTI basis swaps
   
Derivative    
Hedged volume (MBbls) 1,840  
Hedged differential ($/Bbl) 11.60  
2014 | Oil timing differential positions | Trade month roll swaps
   
Derivative    
Hedged volume (MBbls) 920 [1]  
Hedged differential ($/Bbl) 0.32 [1]  
2015 | Oil derivative instruments | Swap
   
Derivative    
Hedged volume (MBbls) 0  
Average price ($/Bbl) 0  
2015 | Oil derivative instruments | Crude Oil Sales - Collars
   
Derivative    
Hedged volume (MBbls) 0  
Derivative, floor price ($/Bbl) 0  
Derivative, cap price ($/Bbl) 0  
2015 | Oil derivative instruments | Crude Oil Sales - Three-way collars - Derivative 1
   
Derivative    
Hedged volume (MBbls) 1,095  
2015 | Oil derivative instruments | Crude Oil Sales - Three-way collars - Derivative 2
   
Derivative    
Hedged volume (MBbls) 0  
2015 | Oil derivative instruments | Short | Crude Oil Sales - Three-way collars - Derivative 1
   
Derivative    
Derivative, floor price ($/Bbl) 70.00  
Derivative, cap price ($/Bbl) 101.62  
2015 | Oil derivative instruments | Short | Crude Oil Sales - Three-way collars - Derivative 2
   
Derivative    
Derivative, floor price ($/Bbl) 0.00  
Derivative, cap price ($/Bbl) 0.00  
2015 | Oil derivative instruments | Long | Crude Oil Sales - Three-way collars - Derivative 1
   
Derivative    
Derivative, floor price ($/Bbl) 90.00  
2015 | Oil derivative instruments | Long | Crude Oil Sales - Three-way collars - Derivative 2
   
Derivative    
Derivative, floor price ($/Bbl) 0.00  
2015 | Oil basis differential commodity contract | ICE Brent - NYMEX WTI basis swaps
   
Derivative    
Hedged volume (MBbls) 2,920  
Hedged differential ($/Bbl) 11.60  
2015 | Oil timing differential positions | Trade month roll swaps
   
Derivative    
Hedged volume (MBbls) 0 [1]  
Hedged differential ($/Bbl) 0.00 [1]  
Fair Value, Inputs, Level 2
   
Derivative    
Commodity derivatives $ 17,004 $ 28,291
Commodity derivatives $ 45,299 $ 45,226
[1] (1) The Company hedges the timing risk associated with the sales price of oil in the Permian Basin. In this operating area, the Company generally sells oil for the delivery month at a sales price based on the average NYMEX WTI price during that month, plus an adjustment calculated as a spread between the weighted average prices of the delivery month, the next month and the following month during the period when the delivery month is prompt (the “trade month roll”).