Woodford Shale Joint Development Agreement	9 Months Ended
Sep. 30, 2011
Woodford Shale Joint Development Agreement [Abstract]
Woodford Shale Joint Development Agreement	Note 9 — Woodford Shale Joint Development Agreement In May 2010, the Company entered into a joint development agreement with WSGP Gas Producing LLC (WSGP), a subsidiary of NextEra Energy Resources, LLC, whereby WSGP acquired 50% of the Company’s Woodford proved undeveloped reserves as well as the right to earn 50% of the Company’s undeveloped Woodford acreage position through a two phase drilling program pursuant to which WSGP will fund a share of future drilling costs. The Company received $57.4 million in cash at closing, net of $2.6 million in fees incurred in relation to the transaction, and recorded a long-term receivable for an additional $14 million to be received on November 30, 2011. The Company recorded the total consideration of approximately $71 million as an adjustment to capitalized costs with no gain or loss recognized. The Company expects to achieve certain production performance metrics, as outlined in the joint development agreement, relative to the first 18 wells drilled under the drilling program. As a result, the Company expects to earn an additional $14 million during the fourth quarter of 2011, which would be recorded as a further reduction to capitalized costs.

Note 9 — Woodford Shale Joint Development Agreement

In May 2010, the Company entered into a joint development agreement with WSGP Gas Producing LLC (WSGP), a subsidiary of NextEra Energy Resources, LLC, whereby WSGP acquired 50% of the Company’s Woodford proved undeveloped reserves as well as the right to earn 50% of the Company’s undeveloped Woodford acreage position through a two phase drilling program pursuant to which WSGP will fund a share of future drilling costs. The Company received $57.4 million in cash at closing, net of $2.6 million in fees incurred in relation to the transaction, and recorded a long-term receivable for an additional $14 million to be received on November 30, 2011. The Company recorded the total consideration of approximately $71 million as an adjustment to capitalized costs with no gain or loss recognized. The Company expects to achieve certain production performance metrics, as outlined in the joint development agreement, relative to the first 18 wells drilled under the drilling program. As a result, the Company expects to earn an additional $14 million during the fourth quarter of 2011, which would be recorded as a further reduction to capitalized costs.