Derivative Instruments And Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2011

Derivative Instruments And Hedging Activities

Volumes Under Derivative Contracts Related To Oil And Gas Producing Activities

Production Period	Instrument Type	Average Monthly Volumes	Weighted Average Price
Crude Oil:			(per barrel)
October 2011 — December 2011	Swap	163.3 MBbl	$	82.62
October 2011 — December 2011	Collar	35.3 MBbl	$	95.00— $124.59
October 2011 — December 2011	Collar	50.0 MBbl	$	100.00— $122.80	a
January 2012 — December 2012	Collar	75.0 MBbl	$	96.67— $118.57
January 2012 — December 2012	Collar	139.0 MBbl	$	99.42— $117.59	a
January 2012 — December 2012	Swap	16.0 MBbl	$	103.20	a
January 2013 — December 2013	Swap	41.7 MBbl	$	99.15	a
January 2013 — December 2013	Collar	41.7 MBbl	$	95.00— $102.60	a
Natural Gas:			(per Mcf)
October 2011 — December 2011	Swap	703.3 Mmcf	$	4.93
January 2012 — December 2012	Swap	333.3 Mmcf	$	4.70
January 2012 — December 2012	Collar	166.7 Mmcf	$	4.75— $5.09

a.   The prices quoted in the table above are primarily NYMEX Henry Hub for natural gas and NYMEX West Texas Intermediate for crude oil.   As footnoted above these costless collar contracts are priced as Brent crude oil.

Derivatives Designated As Hedging Instruments

	As of September 30, 2011			As of December 31, 2010
	Balance Sheet  Location	Fair Value		Balance Sheet Location	Fair Value
	(in thousands)
Asset Derivatives:
Oil contracts	Other current assets	$	28,020	Other current assets	$	—
Natural gas contracts	Other current assets		5,074	Other current assets		5,324
Natural gas contracts	Other assets, net		322	Other assets, net		—
Oil contracts	Other assets, net		8,868	Other assets, net		—
Interest rate swaps	Other assets, net		238	Other assets, net		—
		$	42,522		$	5,324

	As of September 30, 2011			As of December 31, 2010
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
	(in thousands)
Liability Derivatives:
Oil contracts	Accrued liabilities	$	—	Accrued liabilities	$	28,855
Interest rate swaps	Accrued liabilities		692	Accrued liabilities		1,751
Natural gas contracts	Other long-term liabilities		—	Other long-term liabilities		913
Interest rate swaps	Other long-term liabilities		—	Other long-term liabilities		115
		$	692		$	31,634

Derivatives Not Designated As Hedging Instruments

	As of September 30, 2011			As of December 31, 2010
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
	(in thousands)
Asset Derivatives:
Foreign exchange forwards	Other current assets	$	109	Other current assets	$	148
Foreign exchange forwards	Other assets, net		—	Other assets, net		42
		$	109		$	190
Liability Derivatives:
Foreign exchange forwards	Accrued liabilities		264	Accrued liabilities		—
		$	264		$	—

Impact Of Derivative Instruments On Accumulated Comprehensive Income (Loss)

		Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)
		Three Months Ended September 30,					Nine Months Ended September 30,
		2011(1)		2010(1)			2011(1)		2010(1)
		(in thousands)
Oil and natural gas commodity contracts	$	33,432	$	(3,405	)	$	43,373	$	13,799
Interest rate swaps		456		(390	)		918		(1,491	)
	$	33,888	$	(3,795	)	$	44,291	$	12,308

(1)   All unrealized gains (losses) related to our oil and natural gas commodity contracts are expected to be reclassified into earnings by no later than December 31, 2013.  The last of our interest swaps will mature in January 2014 and we have foreign exchange forwards that have maturities through June 2012.

Gain (Loss) Reclassified From Accumulated OCI Into Income

	Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
			Three Months Ended September 30,						Nine Months Ended September 30,
			2011			2010			2011			2010
Oil and natural gas commodity contracts	Oil and gas revenue	$	(1,287	)	$	7,428		$	(19,473	)	$	17,892
Interest rate swaps	Net interest expense		(522	)		(468	)		(1,513	)		(1,355	)
		$	(1,809	)	$	6,960		$	(20,986	)	$	16,537

Impact Of Non Designated Derivative Instruments On Income Statement

	Location of Gain (Loss) Recognized in Income on Derivatives		Gain (Loss) Recognized in Income on Derivatives
			Three Months Ended September 30,					Nine Months Ended September 30,
			2011			2010		2011			2010
			(in thousands)
Natural gas contracts	Gain on oil and gas derivative contracts	$	—		$	161	$	—		$	2,643
Foreign exchange forwards	Other income (expense)		(381	)		1,106		(234	)		(2,398	)
		$	(381	)	$	1,267	$	(234	)	$	245