Annual report pursuant to Section 13 and 15(d)

Hedging Activities (Tables)

v2.4.0.6
Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2012
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Schedule Of Derivative Instruments
At December 31, 2012, the Company had the following fixed price swaps in place:
 
 
Daily Volume
(Bbls/day)
 
Weighted
Average Price
January - December 2013
5,000

 
$
100.90

Schedule Of Derivative Instruments In Statement Of Financial Position
At December 31, 2012 the fair value of derivative assets related to the fixed price swaps was as follows:
 
Short-term derivative instruments - asset
$
664,000

Short-term derivative instruments - liability
$
10,442,000


At December 31, 2011, the fair value of derivative assets related to the fixed price swaps was as follows:
 
Short-term derivative instruments - asset
$
1,601,000

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 years ended December 31, 2012 and 2011 are presented below.
 
 
Year ended December 31,
 
2012
 
2011
(Reduction) addition to oil and condensate sales
$
(1,517,000
)
 
$
(4,720,000
)
Schedule Of Cumulative Hedging Activities Included In Accumulated Other Comprehensive Income
The following table presents the balances of the Company’s cumulative hedging activities included in other comprehensive income.
 
December 31, 2009
$
(18,736,000
)
December 31, 2010
$
(4,720,000
)
December 31, 2011
$
1,576,000

December 31, 2012
$
(9,660,000
)