Quarterly report pursuant to Section 13 or 15(d)

Hedging Activities (Tables)

v2.4.0.6
Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2012
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Schedule Of Derivative Instruments
At September 30, 2012, the Company had the following fixed price swaps in place:
 
 
Daily Volume
(Bbls/day)
 
Weighted
Average Price
October - December 2012
4,000

 
$
107.29

January - June 2013
4,000

 
$
103.33

July - December 2013
3,000

 
$
100.04

Schedule Of Derivative Instruments In Statement Of Financial Position
At September 30, 2012 the fair value of derivative assets related to the fixed price swaps was as follows:
 
Short-term derivative instruments – asset
$
808,000

Short-term derivative instruments - liability
$
8,816,000

Long-term derivative instruments - liability
$
1,523,000

Schedule Of Cash Flow Hedges
Amounts reclassified out of accumulated other comprehensive income into earnings as a component of oil and condensate sales for the nine months ended September 30, 2012 and 2011 are presented below.
 
 
Three Months Ended September 30,
Nine Months Ended September 30,
 
2012
 
2011
2012
 
2011
Reduction to oil and condensate sales
(185,000
)
 
(1,331,000
)
$
(646,000
)
 
$
(3,342,000
)