ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income Loss

Changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2014 and 2013 were as follows:

	Cash Flow Hedges		Foreign Currency Items		Total
For the Year Ended December 31, 2014
Beginning balance, net of tax		($1,395)		($667)		($2,062)
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives		136,097		-		136,097
Foreign currency translations		-		(2,801)		(2,801)
Income tax effect		(48,995)		-		(48,995)
Net of tax		87,102		(2,801)		84,301
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/gas production		526		-		526
Derivative expense, net		(2,208)		-		(2,208)
Income tax effect		606		-		606
Net of tax		(1,076)		-		(1,076)
Other comprehensive income (loss), net of tax		88,178		(2,801)		85,377
Ending balance, net of tax		$86,783		($3,468)		$83,315

	Cash Flow Hedges		Foreign Currency Items		Total
For the Year Ended December 31, 2013
Beginning balance, net of tax		$28,833		$  -		$28,833
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives		(26,945)		-		(26,945)
Foreign currency translations		-		(667)		(667)
Income tax effect		9,701		-		9,701
Net of tax		(17,244)		(667)		(17,911)
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/gas production		20,289		-		20,289
Income tax effect		(7,305)		-		(7,305)
Net of tax		12,984		-		12,984
Other comprehensive loss, net of tax		(30,228)		(667)		(30,895)
Ending balance, net of tax		($1,395)		($667)		($2,062)

In 2012, the only component of accumulated other comprehensive income related to our cash flow hedges. Changes in accumulated other comprehensive income for the year ended December 31, 2012 were as follows:

	Cash Flow Hedges
For the Year Ended December 31, 2012
Beginning balance, net of tax		$21,868
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives		41,209
Income tax effect		(14,836)
Net of tax		26,373
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/gas production		30,326
Income tax effect		(10,918)
Net of tax		19,408
Other comprehensive income, net of tax		6,965
Ending balance, net of tax		$28,833