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Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2011


	June 30, 2011
	Level 2			Level 3		Total
	(In thousands)
Financial assets (liabilities):
Commodity derivatives	$	(15,351	)	$	11,749	$	(3,602	)


	December 31, 2010
	Level 2			Level 3			Total
	(In thousands)
Financial assets (liabilities):
Interest rate swaps	$	0		$	(1,614	)	$	(1,614	)
Commodity derivatives	$	(19,954	)	$	10,868		$	(9,086	)

Reconciliations Of Level 3 Fair Value Measurements


	Net Derivatives
	For the Three Months Ended June 30, 2011						For the Six Months Ended June 30, 2011
	Interest Rate Swaps			Commodity Swaps			Interest Rate Swaps			Commodity Swaps
	(In thousands)
Beginning of period	$	(1,361	)	$	9,368		$	(1,614	)	$	10,868
Total gains or (losses) (realized and unrealized):
Included in earnings ⁽¹⁾		(1,431	)		3,572			(1,734	)		7,877
Included in other comprehensive income		1,361			1,847			1,614			82
Settlements		1,431			(3,038	)		1,734			(7,078	)

End of period	$	0		$	11,749		$	0		$	11,749


Total gains for the period included in earnings attributable to the change in unrealized gains relating to assets still held at end of period	$	0		$	534		$	0		$	799

(1)

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


	Net Derivatives
	For the Three Months Ended June 30, 2010						For the Six Months Ended June 30, 2010
	Interest Rate Swaps			Commodity Swaps and Collars			Interest Rate Swaps			Commodity Swaps and Collars
	(In thousands)
Beginning of period	$	(2,019	)	$	51,439		$	(1,948	)	$	19,948
Total gains or (losses) (realized and unrealized):
Included in earnings ⁽¹⁾		(302	)		18,690			(609	)		27,764
Included in other comprehensive income (loss)		48			(18,431	)		(23	)		11,912
Purchases, issuance and settlements		302			(18,385	)		609			(26,311	)

End of period	$	(1,971	)	$	33,313		$	(1,971	)	$	33,313


Total gains for the period included in earnings attributable to the change in unrealized gains relating to assets still held at end of period	$	0		$	305		$	0		$	1,453

(1)

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

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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