Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2011

Derivative Instruments and Hedging Activities (Tables) [Abstract]

Commodity derivative expense (income), included in our Consolidated Statements of Operations

			Three Months Ended				Six Months Ended
			June 30,				June 30,
In thousands			2011		2010		2011		2010
Oil
	Payment on settlements of derivative contracts		$	16,972	$	13,829	$	22,000	$	77,379
	Fair value adjustments to derivative contracts - expense (income)			(187,194)		(145,099)		(20,130)		(206,920)
		Total derivative expense (income) - oil		(170,222)		(131,270)		1,870		(129,541)
Natural Gas
	Receipt on settlements of derivative contracts			(6,030)		(16,630)		(12,646)		(20,379)
	Fair value adjustments to derivative contracts - expense (income)			3,348		19,909		8,622		(19,109)
		Total derivative expense (income) - natural gas		(2,682)		3,279		(4,024)		(39,488)
Ineffectiveness on interest rate swaps				-		(683)		-		(870)
		Derivative income	$	(172,904)	$	(128,674)	$	(2,154)	$	(169,899)

Commodity derivative contracts not classified as hedging instruments

				NYMEX Contract Prices Per Bbl
		Type of		Weighted Average Price
Year	Months	Contract	Bbls/d	Swap		Floor		Ceiling
Oil Contracts
2011	July - Sept	Swap	625		79.18		-		-
		Collar	42,500		-		70.35		100.09
		Put	6,625		-		69.53		-
	Total July - Sept 2011		49,750
	Oct - Dec	Swap	625		79.18		-		-
		Collar	45,500		-		70.33		101.74
		Put	6,625		-		69.53		-
	Total Oct - Dec 2011		52,750
2012	Jan - Mar	Swap	625		81.04		-		-
		Collar	52,000		-		70.00		106.86
		Put	625		-		65.00		-
	Total Jan - Mar 2012		53,250
	Apr-June	Swap	625		81.04		-		-
		Collar	53,000		-		70.00		119.44
		Put	625		-		65.00		-
	Total Apr - June 2012		54,250
	July-Sept	Swap	625		81.04		-		-
		Collar	53,000		-		80.00		128.57
		Put	625		-		65.00		-
	Total July - Sept 2012		54,250
	Oct - Dec	Swap	625		81.04		-		-
		Collar	53,000		-		80.00		128.57
		Put	625		-		65.00		-
	Total Oct - Dec 2012		54,250

			Type of		Weighted Average Swap
Year		Months	Contract	MMBtu/d	Price per MMBtu
Natural Gas Contracts
	2011	July - Sept	Swap	33,500	$	6.27
		Total July-Sept 2011		33,500
		Oct - Dec	Swap	33,500		6.27
		Total Oct - Dec 2011		33,500
	2012	Jan - Dec	Swap	20,000		6.53
		Total Jan - Dec 2012		20,000

Derivative financial instruments in Balance Sheet

					Estimated Fair Value
					Asset (Liability)
					June 30,		December 31,
Type of Contract				Balance Sheet Location	2011		2010
					(In thousands)
Derivatives not designated as hedging instruments
	Derivative asset
		Oil contracts		Derivative assets - current	$	1,462	$	3,050
		Natural gas contracts		Derivative assets - current		17,860		21,192
		Oil contracts		Derivative assets - long-term		11,281		1,301
		Natural gas contracts		Derivative assets - long-term		6,328		11,618
	Derivative liability
		Oil contracts		Derivative liabilities - current		(67,196)		(55,256)
		Deferred premiums		Derivative liabilities - current		(14,431)		(22,928)
		Oil contracts		Derivative liabilities - long-term		(2,228)		(25,906)
		Deferred premiums		Derivative liabilities - long-term		(1,150)		(3,781)
			Total derivatives not designated as hedging instruments		$	(48,074)	$	(70,710)