Divestitures	9 Months Ended
Sep. 30, 2014
Business Combinations [Abstract]
Divestitures	Note 7 – Divestitures On January 16, 2014, we completed the sale of our interests in the Cut Off and Clovelly fields for cash consideration of approximately $44.8 million and the assumption of the associated asset retirement obligations of approximately $9.2 million. On January 31, 2014, we completed the sale of our interest in the Hatch Point field for cash consideration of approximately $9.7 million and the assumption of the associated asset retirement obligations of approximately $1.2 million. On July 31, 2014, we completed the sale of certain of our non-core properties in the GOM conventional shelf for cash consideration of approximately $177.6 million, after giving effect to preliminary purchase price adjustments, and the assumption of the associated asset retirement obligations of approximately $125.1 million. At December 31, 2013, the estimated proved reserves associated with these assets represented approximately 9% of our total estimated proved oil and natural gas reserves. These sales were accounted for as adjustments to capitalized costs, with total consideration (cash consideration plus the assumed asset retirement obligations) recorded as an increase to accumulated depreciation, depletion and amortization (“DD&A”). No gain or loss was recognized since the adjustments did not significantly alter the relationship between capitalized costs and proved reserves. All of the proceeds from the July 31, 2014 sale of our non-core GOM conventional shelf properties have been deposited with a Qualified Intermediary (under the terms of a Qualified Trust Agreement and Exchange Agreement) for potential reinvestment in like-kind replacement property as defined under Section 1031 of the Internal Revenue Code, and are included in our balance sheet as restricted cash. Compliance with provisions under the Qualified Trust Agreement and Exchange Agreement provides for deferral of taxable gain on these sales proceeds. We have until January 27, 2015 (the “Exchange Period”) to close on a transaction for like-kind replacement property in order to achieve deferral of our realized tax gain. The Qualified Trust Agreement and Exchange Agreement provide for certain restrictions on the use of these funds during the Exchange Period.

Divestitures

9 Months Ended

Sep. 30, 2014

Note 7 – Divestitures

On January 16, 2014, we completed the sale of our interests in the Cut Off and Clovelly fields for cash consideration of approximately $44.8 million and the assumption of the associated asset retirement obligations of approximately $9.2 million. On January 31, 2014, we completed the sale of our interest in the Hatch Point field for cash consideration of approximately $9.7 million and the assumption of the associated asset retirement obligations of approximately $1.2 million. On July 31, 2014, we completed the sale of certain of our non-core properties in the GOM conventional shelf for cash consideration of approximately $177.6 million, after giving effect to preliminary purchase price adjustments, and the assumption of the associated asset retirement obligations of approximately $125.1 million. At December 31, 2013, the estimated proved reserves associated with these assets represented approximately 9% of our total estimated proved oil and natural gas reserves. These sales were accounted for as adjustments to capitalized costs, with total consideration (cash consideration plus the assumed asset retirement obligations) recorded as an increase to accumulated depreciation, depletion and amortization (“DD&A”). No gain or loss was recognized since the adjustments did not significantly alter the relationship between capitalized costs and proved reserves.

All of the proceeds from the July 31, 2014 sale of our non-core GOM conventional shelf properties have been deposited with a Qualified Intermediary (under the terms of a Qualified Trust Agreement and Exchange Agreement) for potential reinvestment in like-kind replacement property as defined under Section 1031 of the Internal Revenue Code, and are included in our balance sheet as restricted cash. Compliance with provisions under the Qualified Trust Agreement and Exchange Agreement provides for deferral of taxable gain on these sales proceeds. We have until January 27, 2015 (the “Exchange Period”) to close on a transaction for like-kind replacement property in order to achieve deferral of our realized tax gain. The Qualified Trust Agreement and Exchange Agreement provide for certain restrictions on the use of these funds during the Exchange Period.