Acquisitions and Divestitures	6 Months Ended
Jun. 30, 2015
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisition: In June 2014, the Company entered into a joint venture in Louisiana for an aggregate purchase price of $24 million. The assets acquired under the joint venture include an average 37% working interest in an approximately 30,000 acre leasehold position in Louisiana and exclusive rights, along with our joint venture partner, to a 200 square mile proprietary 3D survey which has generated several conventional and shallow non-conventional oil focused prospects. The purchase price was comprised of $10 million in cash and $14 million in cash funding for future drilling, completion and lease acquisition costs. If the $14 million in drilling, completion and lease acquisition costs is not fully funded by December 31, 2015, any remaining balance becomes payable at the election of our joint venture partner. At June 30, 2015, $5.7 million of the cash funding for future drilling, completion and lease acquisition costs remained outstanding. The liability is reflected as accrued acquisition costs in the Consolidated Balance Sheet. Divestiture: On June 4, 2015, the Company completed the sale of a majority of its interests in the Woodford and Mississippian Lime (the “Sold Assets”) for $280 million, subject to customary post-closing purchase price adjustments, effective January 1, 2015. At closing, the Company received $257.7 million in cash and recognized a receivable of $13.9 million related to the remainder of the adjusted purchase price to be received within 180 days as further discussed below. In connection with the sale, the Company entered into a Contract Operating Services Agreement ("COSA") whereby the Company will retain a minimal working interest in the Sold Assets and will provide certain services as a contract operator for a period of one year from the closing date of the sale, subject to renewal for two additional one-year terms. During the 180 day period following the closing of the sale, for each of the first 14 wells spud by the Company as contract operator under the COSA, the Company will receive $1 million of the $13.9 million remaining purchase price as discussed above. If at the end of the 180 day period any portion of the purchase price remains outstanding, the Company will receive the balance in full. At December 31, 2014, the estimated proved reserves attributable to the Sold Assets totaled approximately 227 Bcfe, which represented approximately 57% of the Company's estimated proved reserves. Under the full cost method of accounting, sales of oil and gas properties are accounted for as adjustments of capitalized costs with no gain or loss recognized, unless the adjustment significantly alters the relationship between capitalized costs and proved reserves. A significant alteration is generally not expected to occur for sales involving less than 25% of the total proved reserves. If the divestiture of the Sold Assets was accounted for as an adjustment of capitalized costs with no gain or loss recognized, the adjustment would have significantly altered the relationship between capitalized costs and proved reserves. Accordingly, the Company recognized a gain on the sale of $21.5 million. The carrying value of the properties sold was determined by allocating total capitalized costs within the full cost pool between properties sold and properties retained based on their relative fair values.

Acquisitions and Divestitures

Acquisition:

In June 2014, the Company entered into a joint venture in Louisiana for an aggregate purchase price of $24 million. The assets acquired under the joint venture include an average 37% working interest in an approximately 30,000 acre leasehold position in Louisiana and exclusive rights, along with our joint venture partner, to a 200 square mile proprietary 3D survey which has generated several conventional and shallow non-conventional oil focused prospects.

The purchase price was comprised of $10 million in cash and $14 million in cash funding for future drilling, completion and lease acquisition costs. If the $14 million in drilling, completion and lease acquisition costs is not fully funded by December 31, 2015, any remaining balance becomes payable at the election of our joint venture partner. At June 30, 2015, $5.7 million of the cash funding for future drilling, completion and lease acquisition costs remained outstanding. The liability is reflected as accrued acquisition costs in the Consolidated Balance Sheet.

Divestiture:

On June 4, 2015, the Company completed the sale of a majority of its interests in the Woodford and Mississippian Lime (the “Sold Assets”) for $280 million, subject to customary post-closing purchase price adjustments, effective January 1, 2015. At closing, the Company received $257.7 million in cash and recognized a receivable of $13.9 million related to the remainder of the adjusted purchase price to be received within 180 days as further discussed below.

In connection with the sale, the Company entered into a Contract Operating Services Agreement ("COSA") whereby the Company will retain a minimal working interest in the Sold Assets and will provide certain services as a contract operator for a period of one year from the closing date of the sale, subject to renewal for two additional one-year terms. During the 180 day period following the closing of the sale, for each of the first 14 wells spud by the Company as contract operator under the COSA, the Company will receive $1 million of the $13.9 million remaining purchase price as discussed above. If at the end of the 180 day period any portion of the purchase price remains outstanding, the Company will receive the balance in full.

At December 31, 2014, the estimated proved reserves attributable to the Sold Assets totaled approximately 227 Bcfe, which represented approximately 57% of the Company's estimated proved reserves. Under the full cost method of accounting, sales of oil and gas properties are accounted for as adjustments of capitalized costs with no gain or loss recognized, unless the adjustment significantly alters the relationship between capitalized costs and proved reserves. A significant alteration is generally not expected to occur for sales involving less than 25% of the total proved reserves. If the divestiture of the Sold Assets was accounted for as an adjustment of capitalized costs with no gain or loss recognized, the adjustment would have significantly altered the relationship between capitalized costs and proved reserves. Accordingly, the Company recognized a gain on the sale of $21.5 million. The carrying value of the properties sold was determined by allocating total capitalized costs within the full cost pool between properties sold and properties retained based on their relative fair values.