Annual report pursuant to Section 13 and 15(d)

Hedging Activities (Tables)

v2.4.0.8
Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2013
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Schedule Of Derivative Instruments
At December 31, 2013, the Company had the following fixed price swaps in place:
 
 
Daily Volume
(Bbls/day)
 
Weighted
Average Price
January - March 2014
4,000

 
$
104.75

April - December 2014
2,000

 
$
101.50


 
Daily Volume (MMBtu/day)
 
Weighted
Average Price
January 2014
65,000

 
$
4.04

February - December 2014
105,000

 
$
4.01

January - December 2015
125,000

 
$
4.03

January - March 2016
105,000

 
$
4.04

April 2016
95,000

 
$
4.04

Schedule Of Derivative Instruments In Statement Of Financial Position
At December 31, 2013 the fair value of derivative assets and liabilities related to the fixed price swaps and swaptions was as follows:
 
 
(In thousands)
Short-term derivative instruments - asset
$
324

Long-term derivative instruments - asset
$
521

Short-term derivative instruments - liability
$
12,280

Long-term derivative instruments - liability
$
11,366


At December 31, 2012 the fair value of derivative assets and liabilities related to the fixed price swaps and swaptions was as follows:

 
(In thousands)
Short-term derivative instruments - asset
$
664

Short-term derivative instruments - liability
$
10,442


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 years ended December 31, 2013 and 2012 are presented below.
 
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(In thousands)
Reduction to oil and condensate sales
$
(9,779
)
 
$
(1,517
)
 
$
(4,720
)
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.
 
 
(In thousands)

December 31, 2010
$
(4,720
)
December 31, 2011
$
1,576

December 31, 2012
$
(9,660
)
December 31, 2013
$
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