Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Table Text Block Supplement [Abstract]

Fair value hierarchy of financial assets and liabilities

The following table sets forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2012 and 2011:

	Fair Value Measurements Using:
	Quoted Prices in Active Markets		Significant Other Observable Inputs			Significant Unobservable Inputs
In thousands	(Level 1)		(Level 2)			(Level 3)		Total
December 31, 2012
Assets:
Oil derivative contracts	$	—	$	19,513		$	—	$	19,513
Liabilities:
Oil derivative contracts	—		(26,440		)	—		(26,440		)
Total	$	—	$	(6,927	)	$	—	$	(6,927	)
December 31, 2011
Assets:
Short-term investments	$	86,682	$	—		$	—	$	86,682
Oil and natural gas derivative contracts	—		23,481			23,950		47,431
Liabilities:
Oil and natural gas derivative contracts	—		(41,312		)	—		(41,312		)
Total	$	86,682	$	(17,831	)	$	23,950	$	92,801

The changes in the fair value of Denbury's Level 3 assets and liabilities for the twelve months ended

The following table summarizes the changes in the fair value of our Level 3 assets and liabilities for the years ended December 31, 2012 and 2011:

	Year Ended December 31,
In thousands	2012				2011
Fair value of Level 3 instruments, beginning of year	$	23,950			$	16,478
Unrealized gains on commodity derivative contracts included in earnings	3,921				13,384
Receipts on settlement of commodity derivative contracts	(27,871		)		(5,912		)
Fair value of Level 3 instruments, end of year	$	—		10	$	23,950
The amount of total gains for the period included in earnings attributable to the change in unrealized gains relating to assets still held at the reporting date	$	—			$	13,384