Impairment of Proved and Unproved Properties

6 Months Ended

Jun. 30, 2012

Impairment of Proved and Unproved Properties [Abstract]

Asset Impairment Charges [Text Block]

Note 13 - Impairment of Proved and Unproved Properties

Proved Properties    

During the first half of 2012, the Company recorded proved property impairments of $38.5 million related to its Haynesville shale assets, due to a decline in natural gas prices. There were no proved property impairments recorded during the first half of 2011.

Unproved Properties

During the first half of 2012, the Company recorded abandonment and impairment of unproved properties expense of $10.8 million, the majority of which related to acreage we no longer intend to develop within the Rocky Mountain region. During the first half of 2011, the Company recorded abandonment and impairment of unproved properties expense of $4.3 million associated with lease expirations in the Mid-Continent region.