Quarterly report pursuant to Section 13 or 15(d)

Hedging Activities (Tables)

v2.4.0.8
Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2014
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Schedule Of Derivative Instruments
At June 30, 2014, the Company had the following fixed price swaps in place:
 
 
Daily Volume
(Bbls/day)
 
Weighted
Average Price
July - December 2014
2,000

 
$
101.50


 
Daily Volume (MMBtu/day)
 
Weighted
Average Price
July - December 2014
155,000

 
$
4.07

January - December 2015
175,000

 
$
4.08

January - March 2016
105,000

 
$
4.04

April 2016
95,000

 
$
4.04

Schedule Of Derivative Instruments In Statement Of Financial Position
At June 30, 2014 the fair value of derivative assets and liabilities related to the fixed price swaps and swaptions was as follows:
 
 
(In thousands)
Long-term derivative instruments - asset
$
784

Short-term derivative instruments - liability
$
24,532

Long-term derivative instruments - liability
$
5,487

Schedule Of Cash Flow Hedges
Amounts reclassified out of accumulated other comprehensive income (loss) into earnings as a component of oil and condensate sales for the three and six months ended June 30, 2014 and 2013 are presented below.
 
 
Three months ended June 30,
 
Six months ended June 30,
 
2014
 
2013
 
2014
 
2013
 
(In thousands)
 
(In thousands)
Reduction to oil and condensate sales
$
—

 
$
(1,404
)
 
$
—

 
$
(3,201
)