Gain on Legal Settlement

6 Months Ended

Jun. 30, 2011

Gain on Legal Settlement [Abstract]

Gain on Legal Settlement

Note 10 — Gain on Legal Settlement

In January 2010, the Company recorded a gain relative to a $9 million cash settlement received from a lawsuit that was originally filed by the Company in 2008 relating to disputed interests in certain oil and gas assets purchased in 2007. In addition to the cash proceeds received, the Company was assigned additional working interests in certain producing properties. The Company recorded an additional $4.2 million gain representing the estimated fair market value of those interests on the effective date of the settlement.