Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Recurring Fair Value Measurements

The following tables set forth our recurring fair value measurements:

	September 30, 2012
	Level 2			Level 3			Total
	(In thousands)
Financial assets (liabilities):
Commodity derivatives:
Assets	$	21,851		$	4,007		$	25,858
Liabilities	(9,054		)	(2,404		)	(11,458		)
	$	12,797		$	1,603		$	14,400

	December 31, 2011
	Level 2			Level 3			Total
	(In thousands)
Financial assets (liabilities):
Commodity derivatives:
Assets	$	9,698		$	34,321		$	44,019
Liabilities	(9,518		)	(706		)	(10,224		)
	$	180		$	33,615		$	33,795

Reconciliations Of Level 3 Fair Value Measurements

The following tables are reconciliations of our level 3 fair value measurements:

	Net Derivatives
	For the three months ended September 30, 2012					For the nine months ended September 30, 2012
	Interest Rate Swaps		Commodity Swaps			Interest Rate Swaps		Commodity Swaps
	(In thousands)
Beginning of period	$	—	$	8,130		$	—	$	33,615
Total gains or losses (realized and unrealized):
Included in earnings (1)	—		2,241			—		19,114
Included in other comprehensive income (loss)	—		(4,194		)	—		(7,770		)
Settlements	—		(4,574		)	—		(21,432		)
Transfers out of Level 3 into Level 2	—		—			—		(21,924		)
End of period	$	—	$	1,603		$	—	$	1,603
Total gains for the period included in earnings attributable to the change in unrealized gain relating to assets still held at end of period	$	—	$	(2,333	)	$	—	$	(2,318	)

(1) Commodity swaps and collars are reported in the unaudited condensed consolidated statements of income in revenues.

	Net Derivatives
	For the three months ended September 30, 2011					For the nine months ended September 30, 2011
	Interest Rate Swaps		Commodity Swaps			Interest Rate Swaps			Commodity Swaps
	(In thousands)
Beginning of period	$	—	$	11,749		$	(1,614	)	$	10,868
Total gains or losses (realized and unrealized):
Included in earnings (1)	—		4,046			(1,734		)	11,923
Included in other comprehensive income (loss)	—		13,182			1,614			13,264
Settlements	—		(3,848		)	1,734			(10,926		)
Transfers out of Level 3 into Level 2	—		—			—			—
End of period	$	—	$	25,129		$	—		$	25,129
Total gains for the period included in earnings attributable to the change in unrealized gain relating to assets still held at end of period	$	—	$	198		$	—		$	997

(1) Interest rate swaps and commodity swaps are reported in the unaudited condensed consolidated statements of income in interest, net and revenues, respectively.

Schedule Of Quantitative Information About Unobservable Inputs

The following table provides quantitative information about our Level 3 unobservable inputs at September 30, 2012:

	Fair Value			Valuation Technique	Unobservable Input	Range
	(In thousands)
Commodity swaps (1)	$	3,835		Discounted cash flow	Forward commodity price curve	$2.76-$3.50
Commodity collars (2)	$	(2,232	)	Discounted cash flow	Forward commodity price curve	$0.07-$0.72

(1) The commodity contracts detailed in this category include non-exchange-traded natural gas swaps that are valued based on regional pricing other than NYMEX. The forward pricing range represents the low and high price expected to be received within the settlement period.

(2) The commodity contracts detailed in this category include non-exchange-traded natural gas collars that are valued based on NYMEX. The forward pricing range represents the low and high price expected to be received within the settlement period.