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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Recurring Fair Value Measurements
The following tables set forth our recurring fair value measurements:
 
June 30, 2013
 
Level 2
 
Level 3
 
Gross Amounts
 
Effect of Netting
 
Net Amounts Presented
 
(In thousands)
Financial assets (liabilities):
 
 
 
 
 
 
 
 
 
Commodity derivatives:
 
 
 
 
 
 
 
 
 
Assets
$
15,395

 
$
1,781

 
$
17,176

 
$
(2,394
)
 
$
14,782

Liabilities
(2,938
)
 
(335
)
 
(3,273
)
 
2,394

 
(879
)
 
$
12,457

 
$
1,446

 
$
13,903

 
$
—

 
$
13,903

 
 
December 31, 2012
 
Level 2
 
Level 3
 
Gross Amounts
 
Effect of Netting
 
Net Amounts Presented
 
(In thousands)
Financial assets (liabilities):
 
 
 
 
 
 
 
 
 
Commodity derivatives:
 
 
 
 
 
 
 
 
 
Assets
$
18,555

 
$
—

 
$
18,555

 
$
(2,003
)
 
$
16,552

Liabilities
(3,918
)
 
(595
)
 
(4,513
)
 
2,003

 
(2,510
)
 
$
14,637

 
$
(595
)
 
$
14,042

 
$
—

 
$
14,042
Reconciliations Of Level 3 Fair Value Measurements
The following tables are reconciliations of our level 3 fair value measurements: 
 
 
 
Commodity Collars
 
For the three months ended June 30, 2013
 
For the six months ended
June 30, 2013
 
(In thousands)
Beginning of period
$
(2,536
)
 
$
(595
)
Total gains or losses (realized and unrealized):
 
 
 
Included in earnings (1)
3,346

 
1,405

Included in other comprehensive income (loss)
—

 
—

Settlements
636

 
636

Transfers out of Level 3 into Level 2
—

 
—

End of period
$
1,446

 
$
1,446

Total gains for the period included in earnings attributable to the change in unrealized gain relating to assets still held at end of period
$
3,982

 
$
2,041

(1)
Commodity collars are reported in the Unaudited Condensed Consolidated Statements of Operations in oil and natural gas revenues (for cash flow hedges) and gain (loss) on derivatives not designated as hedges and hedge ineffectiveness, net, respectively.

 
 
 
Commodity Collars
 
For the three months ended June 30, 2012
 
For the six months ended
June 30, 2012
 
(In thousands)
Beginning of period
$
13,912

 
$
33,615

Total gains or losses (realized and unrealized):
 
 
 
Included in earnings (1)
5,456

 
16,874

Included in other comprehensive income (loss)
(5,687
)
 
(3,576
)
Settlements
(5,551
)
 
(16,859
)
Transfers out of Level 3 into Level 2
—

 
(21,924
)
End of period
$
8,130

 
$
8,130

Total gains (losses) for the period included in earnings attributable to the change in unrealized gain relating to assets still held at end of period
$
(95
)
 
$
15

(1)
Commodity collars are reported in the Unaudited Condensed Consolidated Statements of Operations in oil and natural gas revenues (for cash flow hedges) and gain (loss) on derivatives not designated as hedges and hedge ineffectiveness, net, respectively.
Schedule Of Quantitative Information About Unobservable Inputs
The following table provides quantitative information about our Level 3 unobservable inputs at June 30, 2013:
Commodity (1)
Fair Value
Valuation Technique
Unobservable Input
Range
 
(In thousands)
 
 
 
Oil collars
$
1,781

Discounted cash flow
Forward commodity price curve
($5.01) - $9.44
Natural gas collar
$
(335
)
Discounted cash flow
Forward commodity price curve
($0.34) - $0.10
 
(1)
The commodity contracts detailed in this category include non-exchange-traded natural gas and crude oil collars that are valued based on NYMEX. The forward pricing range represents the low and high price expected to be paid or received within the settlement period.