Document And Entity Information | 9 Months Ended | |
|---|---|---|
Sep. 30, 2011 | Oct. 24, 2011 | |
| Document And Entity Information | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Sep. 30, 2011 | |
| Document Fiscal Year Focus | 2011 | |
| Document Fiscal Period Focus | Q3 | |
| Trading Symbol | unt | |
| Entity Registrant Name | UNIT CORP | |
| Entity Central Index Key | 0000798949 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 48,150,732 |
| X | ||||||||||
- Definition If the value is true, then the document as an amendment to previously-filed/accepted document.
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| X | ||||||||||
- Definition End date of current fiscal year in the format --MM-DD.
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- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.
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- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
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- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.
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- Definition The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, and Other.
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- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument
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| X | ||||||||||
- Definition Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.
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- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Trading symbol of an instrument as listed on an exchange.
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| X | ||||||||||
- Definition Document and Entity Information Abstract
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| X | ||||||||||
- Definition Natural gas gathering systems and treating plants.
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| X | ||||||||||
- Definition Oil and natural gas properties-full cost method, not subject to amortization.
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| X | ||||||||||
- Definition Oil and natural gas properties-full cost method, subject to amortization.
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| X | ||||||||||
- Definition Oil and Gas Property - Full Cost Method, Gross [Abstract]
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| X | ||||||||||
- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
- Definition Capitalized costs incurred for support equipment and facilities used in oil and gas producing activities (such as seismic equipment, drilling equipment, construction and grading equipment, vehicles, repair shops, warehouses, supply points, camps, and division, district, or field offices). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The current portion of prepayments received from customers for goods or services to be provided in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward is presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Fair values as of the balance sheet date for all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments and which are expected to be converted into cash or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Fair values as of the balance sheet date of all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments which are expected to exist longer than one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregated amount of unprocessed materials to be used in manufacturing or production process and supplies that will be consumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Gross amount, as of the balance sheet date, of long-lived, depreciable assets used in the production process to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Aggregate carrying amount, as of the balance sheet date, of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed in the balance sheet. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Gross amount, at the balance sheet date, of long-lived physical assets used in the normal conduct of business and not intended for resale. This can include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition This element represents capitalized assets classified as property, plant and equipment not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Condensed Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data | Sep. 30, 2011 | Dec. 31, 2010 |
|---|---|---|
| Condensed Consolidated Balance Sheets | ||
| Accounts receivable, allowance for doubtful accounts | $ 5,083 | $ 5,083 |
| Preferred stock, par value | $ 1 | $ 1 |
| Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
| Preferred stock, issued | 0 | 0 |
| Common stock, par value | $ 0.2 | $ 0.2 |
| Common stock, shares authorized | 175,000,000 | 175,000,000 |
| Common stock, shares issued | 48,150,732 | 47,910,431 |
| X | ||||||||||
- Definition A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Condensed Consolidated Statements Of Income (USD $) In Thousands, except Per Share data | 3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| Revenues: | ||||
| Contract drilling | $ 128,927 | $ 85,004 | $ 342,098 | $ 217,919 |
| Oil and natural gas | 134,897 | 96,562 | 376,393 | 286,751 |
| Gas gathering and processing | 60,688 | 37,429 | 144,820 | 114,908 |
| Other income (loss), net | (667) | (879) | (566) | 9,691 |
| Total revenues | 323,845 | 218,116 | 862,745 | 629,269 |
| Contract drilling: | ||||
| Operating costs | 73,004 | 45,406 | 190,086 | 132,847 |
| Depreciation | 20,818 | 18,469 | 57,333 | 48,700 |
| Oil and natural gas: | ||||
| Operating costs | 29,598 | 27,092 | 93,796 | 75,943 |
| Depreciation, depletion and amortization | 47,195 | 30,091 | 132,013 | 81,746 |
| Gas gathering and processing: | ||||
| Operating costs | 53,299 | 30,743 | 119,143 | 92,407 |
| Depreciation and amortization | 4,017 | 3,823 | 11,627 | 11,746 |
| General and administrative | 7,800 | 6,637 | 22,188 | 19,372 |
| Interest, net | 1,351 | 0 | 2,078 | 0 |
| Total operating expenses | 237,082 | 162,261 | 628,264 | 462,761 |
| Income before income taxes | 86,763 | 55,855 | 234,481 | 166,508 |
| Income tax expense (benefit): | ||||
| Current | (3,949) | (8,553) | (3,949) | (2,488) |
| Deferred | 37,352 | 29,917 | 94,224 | 66,177 |
| Total income taxes | 33,403 | 21,364 | 90,275 | 63,689 |
| Net income | $ 53,360 | $ 34,491 | $ 144,206 | $ 102,819 |
| Net income per common share: | ||||
| Basic | $ 1.12 | $ 0.73 | $ 3.03 | $ 2.18 |
| Diluted | $ 1.11 | $ 0.73 | $ 3.01 | $ 2.17 |
| X | ||||||||||
- Definition Contract Drilling, Depreciation.
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| X | ||||||||||
- Definition Contract drilling operating costs including direct and indirect expenses.
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| X | ||||||||||
- Definition Contract Drilling Expenses [Abstract]
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| X | ||||||||||
- Definition Revenue from contract drilling services and mobilization of equipment.
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| X | ||||||||||
- Definition Gas Gathering Transportation Marketing And Processing Costs [Abstract]
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| X | ||||||||||
- Definition Gas Gathering Transportation Marketing And Processing, Depreciation.
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| X | ||||||||||
- Definition Oil And Gas Production Expense [Abstract]
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| X | ||||||||||
- Definition Oil and natural gas depreciation, depletion and amortization.
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| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Cost incurred related to the gas activities, such as transportation, marketing and processing crude oil, natural gas and refined petroleum products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Revenue related to midstream and downstream gas activities. May include the following: gathering from wells, processing to remove impurities, storage, transmission, and the sale of natural gas and related products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
- Definition The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Costs incurred to operate and maintain an entities' wells and related equipment and facilities, including depreciation and applicable operating costs of support equipment and facilities and other costs of operating and maintaining those wells and related equipment and facilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue during the period related to oil and gas business activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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| X | ||||||||||
- Definition Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The net gain (loss) resulting from the sale, transfer, termination, or other disposition of assets during the period, excluding transactions involving capital leases, assets-held- or available-for-lease, and other real estate owned which, to the extent appropriate, are included in gains (losses) on the disposition of assets in nonoperating income (expense).
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in other expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
- Definition The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from a borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net cash inflow or outflow from the excess drawing from an existing cash balance, which will be honored by the bank but reflected as a loan to the drawer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from the sale of property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow to pay off an obligation from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Statements Of Comprehensive Income (USD $) In Thousands | 3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| Condensed Consolidated Statements Of Comprehensive Income | ||||
| Net income | $ 53,360 | $ 34,491 | $ 144,206 | $ 102,819 |
| Other comprehensive income (loss), net of taxes: | ||||
| Change in value of derivative instruments used as cash flow hedges, net of tax of $27,015, $2,753, $28,201 and $18,780 | 43,154 | 4,148 | 45,123 | 30,014 |
| Reclassification - derivative settlements, net of tax of ($771), ($5,646), $1,008 and ($13,708) | (1,232) | (8,816) | 1,608 | (21,832) |
| Ineffective portion of derivatives, net of tax of ($899), ($67), ($1,601) and ($231) | (1,437) | (109) | (2,557) | (374) |
| Comprehensive income | $ 93,845 | $ 29,714 | $ 188,380 | $ 110,627 |
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- Definition Condensed Consolidated Statements Of Comprehensive Income Loss [Abstract]
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- Definition The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net gain (loss) recognized in earnings during the reporting period representing the amount of the cash flow hedges' ineffectiveness. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Net of tax effect of the reclassification adjustment for accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges included in accumulated comprehensive income that was realized in net income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, net of tax effect. The after tax effect change includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Statements Of Comprehensive Income (Parenthetical) (USD $) In Thousands | 3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| Condensed Consolidated Statements Of Comprehensive Income | ||||
| Change in value of derivative instruments used as cash flow hedges, tax | $ 27,015 | $ 2,753 | $ 28,201 | $ 18,780 |
| Reclassification - derivative settlements, tax | (771) | (5,646) | 1,008 | (13,708) |
| Ineffective portion of derivatives, tax | $ (899) | $ (67) | $ (1,601) | $ (231) |
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- Definition Condensed Consolidated Statements Of Comprehensive Income Loss [Abstract]
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- Definition Tax On Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net.
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- Definition Tax effect on reclassification adjustment for accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges included in accumulated comprehensive income that was realized in net income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Tax effect on the change in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Basis Of Preparation And Presentation | 9 Months Ended |
|---|---|
Sep. 30, 2011 | |
| Basis Of Preparation And Presentation | |
| Basis Of Preparation And Presentation | NOTE 1 – BASIS OF PREPARATION AND PRESENTATION The accompanying unaudited condensed consolidated financial statements in this quarterly report include the accounts of Unit Corporation and all its subsidiaries and affiliates and have been prepared under the rules and regulations of the SEC. The terms "company," "Unit," "we," "our" and "us" refer to Unit Corporation, a Delaware corporation, and, as appropriate, one or more of its subsidiaries and affiliates, except as otherwise indicated or as the context otherwise requires. The accompanying condensed consolidated financial statements are unaudited and do not include all the notes in our annual financial statements. This quarterly report should be read along with the audited consolidated financial statements and notes included in our Form 10-K, filed February 24, 2011, for the year ended December 31, 2010. In our management's opinion, the accompanying condensed consolidated financial statements contain all normal recurring adjustments (including the elimination of all intercompany transactions) necessary to fairly state our: • Balance Sheets at September 30, 2011 and December 31, 2010; • Statements of Income for the three and nine months ended September 30, 2011 and 2010; • Cash Flows for the nine months ended September 30, 2011 and 2010; and • Statements of Comprehensive Income for the three and nine months ended September 30, 2011 and 2010. Our financial statements are prepared in conformity with generally accepted accounting principles in the United States (GAAP). GAAP requires us to make certain estimates and assumptions that may affect the amounts reported in our unaudited condensed consolidated financial statements and accompanying notes. Actual results may differ from those estimates. Results for the three and nine months ended September 30, 2011 and 2010 are not necessarily indicative of the results to be realized for the full year in the case of 2011, or that we realized for the full year of 2010. With respect to the unaudited financial information for the three and nine month periods ended September 30, 2011 and 2010, included in this quarterly report, PricewaterhouseCoopers LLP reported that it applied limited procedures in accordance with professional standards in reviewing that information. Its separate report, dated November 3, 2011, which is included in this quarterly report, states that it did not audit and it does not express an opinion on that unaudited financial information. Accordingly, the degree of reliance placed on its report should be restricted in light of the limited review procedures applied. PricewaterhouseCoopers LLP is not subject to the liability provisions of Section 11 of the Securities Act of 1933 (Act) for its report on the unaudited financial information because that report is not a "report" or a "part" of a registration statement prepared or certified by PricewaterhouseCoopers LLP within the meaning of Sections 7 and 11 of the Act. |
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- Definition Basis Of Preparation And Presentation (Abstract)
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- Definition The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
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Oil And Natural Gas Properties | 9 Months Ended |
|---|---|
Sep. 30, 2011 | |
| Oil And Natural Gas Properties | |
| Oil And Natural Gas Properties | NOTE 2 – OIL AND NATURAL GAS PROPERTIES Full cost accounting rules require us to review the carrying value of our oil and natural gas properties at the end of each quarter. Under those rules, the maximum amount allowed as the carrying value of those properties is referred to as the ceiling. The ceiling is the sum of the present value (using a 10% discount rate) of the estimated future net revenues from our proved reserves based on the unescalated 12-month average price on our oil, natural gas liquids (NGLs) and natural gas adjusted for any cash flow hedges, plus the cost of properties not being amortized, plus the lower of cost or estimated fair value of unproved properties included in the costs being amortized, less related income taxes. In the event the unamortized cost of the amortized oil and natural gas properties exceeds the full cost ceiling, the excess amount is charged to expense in the period during which the excess occurs. Once incurred, a write-down of oil and natural gas properties is not reversible. At September 30, 2011, using the existing 12-month average commodity prices, including the discounted value of our commodity hedges, we were not required to record a ceiling test write-down. However, if there are declines in the 12-month average prices, including the discounted value of our commodity hedges, we may be required to record a write-down in future periods. Our qualifying cash flow hedges used in the ceiling test determination at September 30, 2011, consisted of swaps covering 1.8 MMBoe in 2011, 4.7 MMBoe in 2012 and 0.7 MMBoe in 2013. The effect of those hedges on the September 30, 2011 ceiling test was a $13.7 million pre-tax increase in the discounted net cash flows of our oil and natural gas properties. Even without the impact of those hedges, we would not have been required to take a write-down for the quarter. Our oil and natural gas hedging is discussed in Note 10 of the Notes to our Unaudited Condensed Consolidated Financial Statements. |
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- Definition The entire disclosure for oil and gas enterprises that follow the full cost method of accounting for investments in oil and gas properties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions | 9 Months Ended |
|---|---|
Sep. 30, 2011 | |
| Acquisitions | |
| Acquisitions | NOTE 3 – ACQUISITIONS On June 2, 2010, we completed an acquisition of oil and natural gas properties from certain unaffiliated parties in an effort to explore and develop more oil rich plays. The properties were purchased for approximately $73.7 million in cash, after post closing adjustments. The purchase price allocation was $48.7 million for proved properties and $25.0 million for undeveloped leasehold not being amortized. The acquisition included approximately 45,000 net leasehold acres and 10 producing oil wells. This acquisition targeted the Marmaton horizontal oil play located mainly in Beaver County, Oklahoma. At the time of acquisition, proved developed producing net reserves associated with the 10 acquired producing wells was approximately 762,000 BOE — consisting of 511,000 barrels of oil, 155,000 barrels of NGLs and 573 MMcf of natural gas. Also during the second quarter of 2010, we completed an acquisition from unaffiliated parties consisting of approximately 32,000 net acres of undeveloped oil and gas leasehold located in Southwest Oklahoma and North Texas for approximately $17.6 million. On July 20, 2011, we acquired certain producing properties from an unaffiliated seller for approximately $12.3 million in cash, after post-closing adjustments, consisting of 30 operated wells and 59 non-operated well interests located in Beaver, Harper and Ellis Counties in Oklahoma and Lipscomb County, Texas. The purchase price allocation was $8.4 million for proved properties and $3.9 million for acreage. The net proved developed reserves associated with the acquisition are estimated at 6.6 Bcfe (91% natural gas) with production of 1.7 MMcfe per day. The acquisition also included in excess of 12,000 net held by production acres in the area for future development. On August 31, 2011, we acquired certain producing oil and gas properties for $30.5 million in cash, subject to closing adjustments, from an unaffiliated seller. Included in the acquisition were more than 500 wells located principally in the Oklahoma Arkoma Woodford and Hartshorne Coal plays along with other properties located throughout Oklahoma and Texas. The proved reserves associated with the acquisition are approximately 31.2 Bcfe (99% natural gas), 83% of which is proved developed. The acquisition also included approximately 55,000 net acres of which 96% is held by production. |
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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Earnings Per Share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share | NOTE 4 – EARNINGS PER SHARE Information related to the calculation of earnings per share follows:
The following table shows the number of stock options and SARs (and their average exercise price) excluded because their option exercise prices were greater than the average market price of our common stock:
The following table shows the number of stock options and SARs (and their average exercise price) excluded because their option exercise prices were greater than the average market price of our common stock:
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- Definition The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Liabilities | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Accrued Liabilities | NOTE 5 – ACCRUED LIABILITIES Accrued liabilities consisted of the following:
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| Long-Term Debt And Other Long-Term Liabilities | NOTE 6 – LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES Long-Term Debt As of the dates in the table, long-term debt consisted of the following:
Credit Agreement. On September 13, 2011, we entered into a Senior Credit Agreement (credit agreement) that replaces our previous credit agreement which was scheduled to mature on May 24, 2012. The credit agreement has a maturity date of September 13, 2016. The amount available to be borrowed is the lesser of the amount we elect as the commitment amount (currently $250.0 million) or the value of the borrowing base as determined by the lenders (currently $600.0 million), but in either event, not to exceed the maximum credit agreement amount of $750.0 million. We are charged a commitment fee ranging from 0.375 to 0.50 of 1% on the amount available but not borrowed. The rate varies based on the amount borrowed as a percentage of the amount of the total borrowing base. To date, in connection with this new credit agreement, we paid $1.6 million in origination, agency, syndication and other related fees. We are amortizing these fees over the life of the credit agreement. The amount of the borrowing base, which is subject to redetermination on April 1st and October 1st of each year, is based primarily on a percentage of the discounted future value of our oil and natural gas reserves. We or the lenders may request a onetime special redetermination of the amount of the borrowing base between each scheduled redetermination. In addition, we may request a redetermination following the completion of an acquisition that meets the requirements set forth in the credit agreement. At our election, any part of the outstanding debt under the credit agreement may be fixed at a London Interbank Offered Rate (LIBOR). LIBOR interest is computed as the sum of the LIBOR base for the applicable term plus 1.75% to 2.50% depending on the level of debt as a percentage of the borrowing base and is payable at the end of each term, or every 90 days, whichever is less. Borrowings not under LIBOR bear interest at the Prime Rate, which cannot be less than LIBOR plus 1.00%, and is payable at the end of each month and the principal borrowed may be paid at any time, in part or in whole, without a premium or penalty. At September 30, 2011, $50.0 million of our $55.4 million in outstanding borrowings were subject to LIBOR. We used borrowings under the credit agreement to pay off the commitments issued under our previous credit agreement. In addition, we can use borrowings for financing general working capital requirements for (a) exploration, development, production and acquisition of oil and gas properties, (b) acquisitions and operation of midstream assets, (c) issuance of standby letters of credit, (d) contract drilling services, and (e) general corporate purposes of the Borrowers. The credit agreement prohibits, among other things:
The credit agreement also requires that we have at the end of each quarter:
As of September 30, 2011, we were in compliance with the contained in the credit agreement. 6.625% Senior Subordinated Notes. On May 18, 2011, we completed the sale of $250.0 million aggregate principal amount of our 6.625% Senior Subordinated Notes due 2021 (the Notes). The Notes were issued at par and mature on May 15, 2021. We received net proceeds of approximately $244.0 million after deducting fees of approximately $6.0 million. Those fees are being amortized as deferred financing costs over the life of the Notes. We used the net proceeds to repay outstanding borrowings under our credit agreement, which was $220.3 million on May 18, 2011. The remaining proceeds were used for general working capital purposes. The Notes are guaranteed by our wholly-owned domestic direct and indirect subsidiaries (the Guarantors). Unit, as the parent company, has no independent assets or operations. The guarantees registered under the registration statement are full and unconditional and joint and several. Any subsidiaries of Unit other than the Guarantors are minor. There are no significant restrictions on the ability of Unit to receive funds from its subsidiaries through dividends, loans, advances or otherwise. The Notes were issued under an Indenture dated as of May 18, 2011, between us and Wilmington Trust FSB, as Trustee (the Trustee), as supplemented by the First Supplemental Indenture dated as of May 18, 2011, between us, the Guarantors and the Trustee, establishing the terms and providing for the issuance of the Notes (the Supplemental Indenture). The discussion of the Notes in this quarterly report is qualified by and subject to the actual terms of the Indenture and the First Supplemental Indenture. The Notes bear interest at a rate of 6.625% per year (payable semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2011), and will mature on May 15, 2021. On and after May 15, 2016, we may redeem all or, from time to time, a part of the Notes at certain redemption prices, plus accrued and unpaid interest. Before May 15, 2014, we may on any one or more occasions redeem up to 35% of the original principal amount of the Notes with the net cash proceeds of one or more equity offerings at a redemption price of 106.625% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date, provided that at least 65% of the original principal amount of the Notes remains outstanding after each redemption. In addition, at any time before May 15, 2016, we may redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount plus a "make whole" premium, plus accrued and unpaid interest, if any, to the redemption date. If a "change of control" occurs, subject to certain conditions, we must offer to repurchase from each holder all or any part of that holder's Notes at a purchase price in cash equal to 101% of the principal amount of the Notes plus accrued and unpaid interest, if any, to the date of purchase. The Indenture and the Supplemental Indenture contain customary events of default. The Indenture governing the Notes contains covenants that, among other things, limit our ability and the ability of certain of our subsidiaries to incur or guarantee additional indebtedness; pay dividends on our capital stock or redeem capital stock or subordinated indebtedness; transfer or sell assets; make investments; incur liens; enter into transactions with our affiliates; and merge or consolidate with other companies. We were in compliance with all covenants of the Notes as of September 30, 2011.
Other Long-Term Liabilities Other long-term liabilities consisted of the following:
The estimated annual payments due under the terms of our other long-term liabilities during each of the five successive twelve month periods beginning October 1, 2011 (and through 2016) are $10.0 million, $16.9 million, $3.7 million, $3.0 million and $57.8 million, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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- Definition The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Asset Retirement Obligations | NOTE 7 – ASSET RETIREMENT OBLIGATIONS We are required to record the estimated fair value of the liabilities relating to the future retirement of our long-lived assets (AROs). Our oil and natural gas wells are plugged and abandoned when the oil and natural gas reserves in those wells are depleted or the wells are no longer able to produce. The plugging and abandonment liability for a well is recorded in the period in which the obligation is incurred (at the time the well is drilled or acquired). None of our assets are restricted for purposes of settling these AROs. All of our AROs relate to plugging costs associated with our oil and gas wells. The following table shows certain information about our AROs for the periods indicated:
(1) Liability incurred in 2011 includes estimates for new wells acquired. (2) Plugging liability estimates were revised upward in both 2011 and 2010 due to increases in the cost of services used to plug wells over the preceding years. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| New Accounting Pronouncements | NOTE 8 – NEW ACCOUNTING PRONOUNCEMENTS Improving Disclosures about Fair Value Measurements. In January 2010, the FASB issued ASU 2010-06 – Fair Value Measurements and Disclosures (ASC 820): Improving Disclosures about Fair Value Measurements, which provides additional guidance to improve disclosures regarding fair value measurements. The ASU amends ASC 820-10, Fair Value Measurements and Disclosures—Overall (formerly FAS 157, Fair Value Measurements) to add two new disclosures: (1) transfers in and out of Level 1 and 2 measurements and the reasons for the transfers, and (2) a gross presentation of activity within the Level 3 roll forward. The ASU also includes clarifications to existing disclosure requirements on the level of disaggregation and disclosures regarding inputs and valuation techniques. The ASU applies to all entities required to make disclosures about recurring and nonrecurring fair value measurements. The effective date of the ASU was the first interim or annual reporting period beginning after December 15, 2009 and was adopted January 1, 2010, except for the gross presentation of the Level 3 roll forward information, which was adopted January 1, 2011. Because it only includes enhanced disclosures, this statement did not have a significant impact on us. Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards (IFRS). In May 2011, the FASB issued ASU 2011-04 Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS. ASU 2011-4 is intended to improve the comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with U.S. GAAP and IFRS. The amendments are of two types: (i) those that clarify the Board's intent about the application of existing fair value measurement and disclosure requirements and (ii) those that change a particular principle or requirement for measuring fair value or for disclosing information about fair value measurements. The update is effective for annual periods beginning after December 15, 2011. We are in the process of evaluating the impact, if any, the adoption of this update will have on our financial statements. Presentation of Comprehensive Income. In June 2011, the FASB issued ASU 2011-05 – Presentation of Comprehensive Income. This ASU amends the Codification to allow an entity the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In both choices, an entity is required to present each component of net income along with total net income, each component of other comprehensive income along with a total for other comprehensive income, and a total amount for comprehensive income. ASU 2011-05 eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders' equity. The amendments to the Codification in the ASU do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. ASU 2011-05 should be applied retrospectively. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. We are in the process of evaluating the option we will choose to present comprehensive income and the impact it will have on our financial statements. Testing Goodwill for Impairment. In September 2011, the FASB issued ASU 2011-08 – Intangibles-Goodwill and Other (ASC 350): Testing Goodwill for Impairment. This ASU is intended to simplify how entities, both public and nonpublic, test goodwill for impairment. ASU 2011-08 permits an entity to first assess qualitative factors to determine whether it is "more likely than not" that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in ASC 350, Intangibles-Goodwill and Other. The more-likely-than-not threshold is defined as having a likelihood of more than 50%. ASU 2011-08 is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011.
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NOTE 9 – STOCK-BASED COMPENSATION For the three and nine months ended September 30, 2011, we recognized stock compensation expense for restricted stock awards, stock options and stock settled SARs of $2.7 million and $7.7 million, respectively. We also capitalized for the same periods stock compensation cost for oil and natural gas properties of $0.6 million and $1.9 million, respectively. For these same periods, the tax benefit related to this stock based compensation was $1.1 million and $3.0 million, respectively. For the three and nine months ended September 30, 2010, we recognized stock compensation expense for restricted stock awards, stock options and stock settled SARs of $2.8 million and $8.3 million, respectively, and capitalized stock compensation cost for oil and natural gas properties of $0.7 million and $2.0 million, respectively. For these same periods, the tax benefit related to this stock based compensation was $1.1 million and $3.2 million, respectively. The remaining unrecognized compensation cost related to unvested awards at September 30, 2011 is approximately $11.2 million of which $2.2 million is anticipated to be capitalized. The weighted average period of time over which this cost will be recognized is 0.8 years. We did not grant any SARs or stock options (other than the non-employee director options discussed below) during either of the three or nine month periods ending September 30, 2011 and 2010. The table below shows the estimates of the fair value of the stock options granted to our non-employee directors under the Unit Corporation 2000 Non-employee Directors Stock Option Plan during the periods using the Black-Scholes model and applying the estimated values also presented in the table:
(1) On May 29, 2009, eight of our directors were each issued 3,063 options contingent on shareholder approval, which was received at the May 5, 2010 annual shareholders' meeting. These 24,504 options granted and vested simultaneously with that approval.
Expected volatilities are based on the historical volatility of our stock. Within the model, we use historical data to estimate stock option exercise and termination rates and aggregate groups that have similar historical exercise behavior for valuation purposes. To date, we have not paid dividends on our stock. The risk free interest rate is computed from the LIBOR rate using the term over which it is anticipated the grant will be exercised. The stock options granted in the second quarter of 2011 increased stock compensation expense for the third quarter and first nine months of 2011 by $0.4 million and $0.6 million, respectively.
The following table shows the fair value of the restricted stock awards granted to employees during the periods indicated:
The restricted stock awards granted during the first three and nine months of 2011 will be recognized over a two- and three-year vesting period, except for a portion of those granted to certain executive officers in the first quarter of 2011. Thirty percent of the shares granted to the designated executive officers, or 20,062 shares (the performance shares), will cliff vest in the first half of 2014. The actual number of performance shares that vest in 2014 will be based on the company's achievement of certain performance criteria over a three-year period, and will range from 50% to 150% of the 20,062 restricted shares granted as performance shares. Total 2011 awards increased the stock compensation expense and the capitalized cost related to oil and natural gas properties for the first nine months of 2011 by an aggregate of $3.5 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Derivatives | NOTE 10 – DERIVATIVES Interest Rate Swaps From time to time we enter into interest rate swaps to manage our exposure to possible future interest rate increases under our credit agreement. Under these transactions we swap the variable interest rate we would otherwise pay on a portion of our bank debt for a fixed interest rate. In May 2011, in association with the repayment of outstanding borrowings under our credit agreement, we terminated our two outstanding interest rate swaps that were previously accounted for as cash flow hedges, resulting in an increase of approximately $1.5 million in interest expense. Approximately $1.1 million of that expense was capitalized and will be amortized over the life of the assets. Commodity Derivatives We have entered into various types of derivative transactions covering some of our projected natural gas, NGLs and oil production. These transactions are intended to reduce our exposure to market price volatility by setting the price(s) we will receive for that production. Our decisions on the price(s), type and quantity of our production hedged is based, in part, on our view of current and future market conditions. As of September 30, 2011, our derivative transactions consisted of the following types of hedges:
Oil and Natural Gas Segment: At September 30, 2011, the following cash flow hedges were outstanding:
(1) Types of liquids involved are natural gasoline, ethane, propane, isobutane and normal butane. (2) Types of liquids involved are natural gasoline. (3) Types of liquids involved are natural gasoline and ethane. At September 30, 2011, the following non-qualifying cash flow derivatives were outstanding:
The following tables present the fair values of our derivative transactions and the location within our balance sheets where those values are recorded:
If a legal right of set-off exists, we net the value of the derivative transactions we have with the same counterparty in our balance sheets. We recognize in accumulated other comprehensive income (OCI) the effective portion of any changes in fair value and reclassify the recognized gains (losses) on the sales to revenue and the purchases to expense as the underlying transactions are settled. As of September 30, 2011 and 2010, we had a gain of $37.3 million and $12.3 million, net of tax, respectively, in accumulated OCI. Based on market prices at September 30, 2011, we expect to transfer a gain of approximately $25.0 million, net of tax, included in accumulated OCI during the next 12 months in the related month of settlement. The commodity derivative instruments existing as of September 30, 2011 are expected to mature by December 2013. Certain derivatives do not qualify as cash flow hedges. Currently, three of our basis swaps do not qualify as cash flow hedges. For these derivatives, any changes in their fair value occurring before their maturity (i.e., temporary fluctuations in value) are reported in oil and natural gas revenues in our unaudited condensed consolidated statements of income. Changes in the fair value of derivatives designated as cash flow hedges, to the extent they are effective in offsetting cash flows attributable to the hedged risk, are recorded in OCI until the hedged item is recognized into earnings. Any change in fair value resulting from ineffectiveness is recognized in our oil and natural gas revenues. Effect of Derivative Instruments on the Unaudited Condensed Consolidated Statement of Income (cash flow hedges) for the nine months ended September 30:
(1) Net of taxes.
Effect of Derivative Instruments on the Unaudited Condensed Consolidated Statement of Income (cash flow hedges) for the three months ended September 30:
Effect of Derivative Instruments on the Unaudited Condensed Consolidated Statement of Income (derivatives not designated as hedging instruments) for the three months ended September 30:
Effect of Derivative Instruments on the Unaudited Condensed Consolidated Statement of Income (cash flow hedges) for the nine months ended September 30:
Effect of Derivative Instruments on the Unaudited Condensed Consolidated Statement of Income (derivatives not designated as hedging instruments) for the nine months ended September 30:
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- Definition The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Fair Value Measurements | NOTE 11 – FAIR VALUE MEASUREMENTS Fair value is defined as the amount that would be received from the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants (in either case, an exit price). To estimate an exit price, a three-level hierarchy is used prioritizing the valuation techniques used to measure fair value into three levels with the highest priority given to Level 1 and the lowest priority given to Level 3. The levels are summarized as follows:
The inputs available to us determine the valuation technique we use to measure the fair values of our financial instruments. The following tables set forth our recurring fair value measurements:
The following methods and assumptions were used to estimate the fair values of the assets and liabilities in the table above. Level 2 Fair Value Measurements Commodity Derivatives. We measure the fair values of our crude oil swaps using estimated internal discounted cash flow calculations based on the NYMEX futures index. Level 3 Fair Value Measurements Interest Rate Swaps. The fair values of our interest rate swaps are based on estimates provided by our respective counterparties and reviewed internally against established index prices and other sources. Commodity Derivatives. The fair values of our natural gas, NGLs and basis swaps are estimated using internal discounted cash flow calculations based on forward price curves, quotes obtained from brokers for contracts with similar terms, or quotes obtained from counterparties to the agreements.
The following tables reconcile our level 3 fair value measurements:
Based on our valuation at September 30, 2011, we determined that the non-performance risk with regard to our counterparties was immaterial. Fair Value of Other Financial Instruments The following disclosure of the estimated fair value of financial instruments is made in accordance with accounting guidance for financial instruments. We have determined the estimated fair values by using available market information and valuation methodologies. Considerable judgment is required in interpreting market data to develop the estimates of fair value. The use of different market assumptions or valuation methodologies may have a material effect on the estimated fair value amounts.
At September 30, 2011, the carrying values on the unaudited condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable, other current assets and current liabilities approximate their fair value because of their short term nature. Based on the borrowing rates currently available to us for credit agreement debt with similar terms and maturities and consideration of our non-performance risk, long-term debt associated with our credit agreement at September 30, 2011 approximates its fair value. The carrying amount of long-term debt associated with the Notes reported in the consolidated balance sheet as of September 30, 2011 was $250.0 million. We estimate the fair value of these Notes using quoted marked prices at September 30, 2011 was $249.4 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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- Definition Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Industry Segment Information | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Industry Segment Information | NOTE 12 – INDUSTRY SEGMENT INFORMATION We have three main business segments offering different products and services:
The contract drilling segment is engaged in the land contract drilling of oil and natural gas wells. The oil and natural gas segment is engaged in the development, acquisition and production of oil and natural gas properties and the midstream segment is engaged in the buying, selling, gathering, processing and treating of natural gas.
We evaluate each segment's performance based on its operating income, which is defined as operating revenues less operating expenses and depreciation, depletion, amortization and impairment. Our oil and natural gas production outside the United States is not significant. The following table provides certain information about the operations of each of our segments:
(1) Operating income is total operating revenues less operating expenses, depreciation, depletion and amortization and does not include non-operating revenues, general corporate expenses, interest expense or income taxes. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share (Tables) | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share |
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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Tabular disclosure of the numerators and the denominators of the basic and diluted per-share (or per-unit) computations for income from continuing operations, including the effect that has been given to preferred dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Liabilities (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long-Term Debt And Other Long-Term Liabilities (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Tabular disclosure of other assets and other liabilities not separately disclosed on the balance sheet.
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(1) Liability incurred in 2011 includes estimates for new wells acquired. (2) Plugging liability estimates were revised upward in both 2011 and 2010 due to increases in the cost of services used to plug wells over the preceding years. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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- Definition Tabular disclosure of the carrying amount of a liability for asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock-Based Compensation (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Estimated Fair Value Of The Stock Options Granted |
(1) On May 29, 2009, eight of our directors were each issued 3,063 options contingent on shareholder approval, which was received at the May 5, 2010 annual shareholders' meeting. These 24,504 options granted and vested simultaneously with that approval.
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- Definition Schedule Of Fair Value Of The Restricted Stock Awards Granted During The Period [Text Block]
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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivatives (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Cash Flow Hedges Outstanding |
(1) Types of liquids involved are natural gasoline, ethane, propane, isobutane and normal butane. (2) Types of liquids involved are natural gasoline. (3) Types of liquids involved are natural gasoline and ethane. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-qualifying Cash Flow Derivatives Outstanding |
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| Fair Value Of Derivative Instruments And Locations In Balance Sheets |
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| Amount Of Gain Or (Loss) Recognized In Accumulated OCI On Derivative |
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| Gain Or Loss Of Reclassified Accumulated Other Comprehensive Income And Recognized Income |
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| Amount Of Gain (Loss) Recognized In Income On Derivative |
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| X | ||||||||||
- Definition Schedule Of Amount Of Gain or Loss Recognized In Income On Derivative [Table Text Block]
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| X | ||||||||||
- Definition Schedule Of Cash Flow Hedges Outstanding [Table Text Block]
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| X | ||||||||||
- Definition Schedule Of Gain or Loss Of Reclassified Accumulated Other Comprehensive Income And Recognized Income [Table Text Block]
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| X | ||||||||||
- Definition Schedule Of Non-qualifying Cash Flow Derivatives Outstanding [Table Text Block]
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| X | ||||||||||
- Details
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| X | ||||||||||
- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Recurring Fair Value Measurements |
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| Reconciliations Of Level 3 Fair Value Measurements |
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| X | ||||||||||
- Definition Fair Value Measurements (Abstract)
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| X | ||||||||||
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Industry Segment Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Industry Segment Information | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenues From Different Segments |
(1) Operating income is total operating revenues less operating expenses, depreciation, depletion and amortization and does not include non-operating revenues, general corporate expenses, interest expense or income taxes. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
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Oil And Natural Gas Properties (Details) (USD $) In Millions, unless otherwise specified | Sep. 30, 2011 |
|---|---|
| Effects of cash flow hedges | $ 13.7 |
Jan'12 - Dec'12 [Member] | |
| Oil and gas production volume covered by hedges that affect ceiling determination (in MMBoe) | 4.7 |
Jan'13 - Dec'13 [Member] | |
| Oil and gas production volume covered by hedges that affect ceiling determination (in MMBoe) | 0.7 |
Oct'11 - Dec'11 [Member] | |
| Oil and gas production volume covered by hedges that affect ceiling determination (in MMBoe) | 1.8 |
| X | ||||||||||
- Definition The pre-tax discounted value of cash flow hedges included in the ceiling test calculation.
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| X | ||||||||||
- Definition The quantity of future oil and gas production being hedged. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions (Details) (USD $) In Millions, unless otherwise specified | 1 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2010 | Jun. 02, 2010
Boe
A | Jun. 30, 2010
Southwest Oklahoma And North Texas [Member] | Jul. 20, 2011
Oklahoma And Lipscomb [Member] | Jul. 20, 2011
Oklahoma And Lipscomb [Member]
Natural Gas Reserves [Member] | Aug. 31, 2011
Oklahoma Arkoma Woodford And Hartshorne Coal [Member]
A | Aug. 31, 2011
Oklahoma Arkoma Woodford And Hartshorne Coal [Member]
Natural Gas [Member] | Jun. 02, 2010
Oil Reserves [Member]
bbl | Jun. 02, 2010
Natural Gas Liquids Reserves [Member] | Jun. 02, 2010
Natural Gas Reserves [Member]
MMcf | |
| Payments to acquire oil and gas property | $ 73.7 | $ 17.6 | $ 12.3 | $ 30.5 | ||||||
| Purchase price allocation for proved properties | 48.7 | 8.4 | ||||||||
| Undeveloped leasehold | $ 25.0 | $ 3.9 | ||||||||
| Gas and oil acreage, developed and undeveloped, net | 45,000 | 55,000 | ||||||||
| Operating number of wells | 10 | 30 | ||||||||
| Operating and non-operating number of wells | 500 | |||||||||
| Non-operating number of wells | 59 | |||||||||
| Proved developed reserves (BOE) | 762,000 | |||||||||
| Proved developed reserves (volume) | 511,000 | 573 | ||||||||
| Proved developed reserves (volume) per day, MMcfe | 1.7 | |||||||||
| Proved developed reserves of NGL, barrels | 155,000 | |||||||||
| Preliminary proved reserves, cubic feet | 6,600,000,000 | 31,200,000,000 | ||||||||
| Percentage of proved developed reserves | 83.00% | |||||||||
| Net undeveloped acres | 32,000 | 12,000 | ||||||||
| Percentage of acre held for production | 96.00% | |||||||||
| X | ||||||||||
- Definition Non - productive oil wells number of wells gross
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| X | ||||||||||
- Definition Net Leasehold Acres (Developed and Undeveloped)
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| X | ||||||||||
- Definition Percentage of acre held for production
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| X | ||||||||||
- Definition Percentage of proved developed reserves
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| X | ||||||||||
- Definition Productive and non-productive oil wells number of wells gross
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| X | ||||||||||
- Definition Proved Developed Reserves of NGL, Barrels
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| X | ||||||||||
- Definition Proved developed reserves (volume) per day
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| X | ||||||||||
- Definition Amount of the purchase price allocated to proved oil and gas properties acquired.
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| X | ||||||||||
- Definition The purchase price allocated to undeveloped oil and gas leasehold acquired.
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| X | ||||||||||
- Definition Undeveloped acreage is considered to be those lease acres on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and gas regardless of whether or not such acreage contains proved reserves. Net acres is the sum of the fractional interest owned based on working interests or other economic arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash outflow to purchase of mineral interests in oil and gas properties for use in the normal oil and gas operations and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The total number of producing oil wells and oil wells capable of production, in which the entity owns an undivided working interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Production of proved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Net quantities of an enterprise's interests in proved developed reserves of either crude oil (including condensate and natural gas liquids), natural gas, synthetic oil and gas, or other nonrenewable natural resource that is intended to be upgraded into synthetic oil and gas as of the beginning and the end of the year. "Net" quantities of reserves include those relating to the enterprise's operating and nonoperating interests in properties. Quantities of reserves relating to royalty interests owned are included in "net" quantities if the necessary information is available to the enterprise. "Net" quantities do not include reserves relating to interests of others in properties owned by the enterprise. Measured in barrel of oil equivalent (BOE). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Net quantities of an enterprise's interests in proved developed reserves of either crude oil (including condensate and natural gas liquids), natural gas, synthetic oil and gas, or other nonrenewable natural resource that is intended to be upgraded into synthetic oil and gas as of the beginning and the end of the year. "Net" quantities of reserves include those relating to the enterprise's operating and nonoperating interests in properties. Quantities of reserves relating to royalty interests owned are included in "net" quantities if the necessary information is available to the enterprise. "Net" quantities does not include reserves relating to interests of others in properties owned by the enterprise. The unit of measure for reserve quantities is defined as "barrels" for oil and synthetic oil reserves or "cubic feet" or "cubic meters" for natural gas and synthetic gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Incremental Per Share Effect Of Dilutive Income Changes Over Dilutive Share Changes
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| X | ||||||||||
- Definition Includes adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Net Income or Loss Available to Common Stockholders plus adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Earnings Per Share (Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share) (Details) (Derivative [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
Derivative [Member] | ||||
| Stock options and SARs | 149,665 | 361,421 | 73,500 | 233,401 |
| Average Exercise Price | $ 58.41 | $ 48.05 | $ 64.43 | $ 53.12 |
| X | ||||||||||
- Definition The average exercise price of stock options and SARs that were excluded from the EPS calculation because their option exercise prices were greater than the average market price of our common stock.
|
| X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Accrued Liabilities (Consisted Of Accrued Liabilities) (Details) (USD $) In Thousands | Sep. 30, 2011 | Dec. 31, 2010 |
|---|---|---|
| Accrued Liabilities | ||
| Employee costs | $ 16,487 | $ 16,499 |
| Lease operating expense | 6,875 | 6,214 |
| Taxes | 24,804 | 1,310 |
| Interest payable | 7,010 | 667 |
| Hedge settlements | 524 | 1,634 |
| Other | 4,888 | 3,769 |
| Total accrued liabilities | $ 60,588 | $ 30,093 |
| X | ||||||||||
- Definition Accrued Hedge Settlements
|
| X | ||||||||||
- Definition Accrued Oil And Gas Production Expense Current
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations, excluding pension and other postretirement benefits, incurred through that date and payable for perquisites provided to employees pertaining to services received from them. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Commitment Fee Under Credit Facility Standard
|
| X | ||||||||||
- Definition Current Ratio Of Credit Facility
|
| X | ||||||||||
- Definition Debt Instrument Maturity Period
|
| X | ||||||||||
- Definition Equal redemption price percentage of principal amount of debt
|
| X | ||||||||||
- Definition Estimated Annual Payments, Long Term Debt and Other Liabilities, Due in the Next Twelve Months
|
| X | ||||||||||
- Definition Estimated Annual Payments, Long Term Debt and Other Liabilities, Due in Year Five
|
| X | ||||||||||
- Definition Estimated Annual Payments, Long Term Debt and Other Liabilities, Due in Year Four
|
| X | ||||||||||
- Definition Estimated Annual Payments, Long Term Debt and Other Liabilities, Due in Year Three
|
| X | ||||||||||
- Definition Estimated Annual Payments, Long Term Debt and Other Liabilities, Due in Year Two
|
| X | ||||||||||
- Definition Interest Rate In Addition To LIBOR
|
| X | ||||||||||
- Definition Leverage Ratio Of Long Term Debt To Consolidated EBITDA
|
| X | ||||||||||
- Definition Loan Origination Fees paid to date. These fees are being amortized over the life of the agreement.
|
| X | ||||||||||
- Definition Minimum Redemption Percentage of Debt Outstanding
|
| X | ||||||||||
- Definition Outstanding borrowings subject to LIBOR.
|
| X | ||||||||||
- Definition Credit Facility prohibits the payment of dividends over 0.25 of CNI for preceding fiscal year.
|
| X | ||||||||||
- Definition Percentage of Maximum Aggregate Principal Equity Amount of the original principal amount that can be redeemed
|
| X | ||||||||||
- Definition Proceed From Equity Offerings Redemption Price Percentage
|
| X | ||||||||||
- Definition Senior Notes Repurchase Price in Percentage for change of control
|
| X | ||||||||||
- Definition Amount of restricted net assets of consolidated and unconsolidated subsidiaries as of the end of the most recently completed fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Description of the interest rate as being fixed or variable, and, if variable, identification of the index or rate on which the interest rate is based and the number of points or percentage added to that index or rate to set the rate, and other pertinent information, such as frequency of rate resets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used.
|
| X | ||||||||||
- Definition Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of timing of required repayments, sinking fund requirements, and other redeemable securities at fixed or determinable prices and dates in the five years immediately following the date of the latest balance sheet presented in the financial statements, and the amount thereafter to fully repay the principal of long-term debt. These disclosures may be made either on an individual debt or security basis, by type of debt or security basis, or on a combined basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The total of the cash outflow during the period which has been paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt and the cost incurred directly for the issuance of equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The cash inflow from a borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The cash outflow for the settlement of obligation drawn from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Long-Term Debt And Other Long-Term Liabilities (Long-Term Debt) (Details) (USD $) In Thousands, unless otherwise specified | 9 Months Ended | |
|---|---|---|
Sep. 30, 2011 | Dec. 31, 2010 | |
| Long-Term Debt And Other Long-Term Liabilities | ||
| Credit agreement with average interest rates, of 2.2% and 3.5% at September 30, 2011 and December 31, 2010, respectively | $ 55,400 | $ 163,000 |
| 6.625% senior subordinated notes due 2021 | 250,000 | 0 |
| Total long-term debt | $ 305,400 | $ 163,000 |
| Revolving credit facility interest rate including the effect of hedging | 2.20% | 3.50% |
| Interest percentage of senior subordinated notes | 6.625% | |
| Debt instrument maturity date | 2021 |
| X | ||||||||||
- Definition Debt Instrument Maturity Period
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Definition Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The effective interest rate at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Long-Term Debt And Other Long-Term Liabilities (Other Long-Term Liabilities) (Details) (USD $) In Thousands | Sep. 30, 2011 | Dec. 31, 2010 | Sep. 30, 2010 | Dec. 31, 2009 |
|---|---|---|---|---|
| Long-Term Debt And Other Long-Term Liabilities | ||||
| Asset retirement obligations | $ 92,802 | $ 69,265 | $ 64,643 | $ 56,404 |
| Workers' compensation | 17,921 | 17,566 | ||
| Separation benefit plans | 6,480 | 5,690 | ||
| Gas balancing | 3,263 | 3,263 | ||
| Deferred compensation plan | 2,266 | 2,368 | ||
| Other liabilities | 122,732 | 98,152 | ||
| Less current portion | 10,031 | 10,122 | ||
| Total other long-term liabilities | $ 112,701 | $ 88,030 |
| X | ||||||||||
- Definition Gas Balancing Liability
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations and payables pertaining to separation benefit plan liabilities.
|
| X | ||||||||||
- Definition The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Definition Aggregate carrying value as of the balance sheet date of the liabilities for all deferred compensation arrangements. Represents currently earned compensation under compensation arrangements that is not actually paid until a later date.
|
| X | ||||||||||
- Definition The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate carrying amount, as of the balance sheet date, of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed in the balance sheet. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations and payables pertaining to claims incurred of a workers compensation nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Asset Retirement Obligations (Asset Retirement Obligations) (Details) (USD $) In Thousands | 9 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | |||||||
| Asset Retirement Obligations | ||||||||
| ARO liability, January 1: | $ 69,265 | $ 56,404 | ||||||
| Accretion of discount | 2,598 | 2,138 | ||||||
| Liability incurred | 12,674 | [1] | 2,901 | [1] | ||||
| Liability settled | (831) | (622) | ||||||
| Revision of estimates | 9,096 | [2] | 3,822 | [2] | ||||
| ARO liability, September 30: | 92,802 | 64,643 | ||||||
| Less current portion | 2,074 | 1,617 | ||||||
| Total long-term ARO liability | $ 90,728 | $ 63,026 | ||||||
| ||||||||
| X | ||||||||||
- Definition The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Current portion of the carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Definition Amount of asset retirement obligations incurred during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of asset retirement obligations settled, or otherwise disposed of, during the period. This may include asset retirement obligations transferred to third parties associated with the sale of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of the Increase or Decrease in the amount of the asset retirement obligation during the current period for changes in the amount or timing of the estimated cash flows associated with the settlement of the obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Noncurrent portion of the carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Employee Service Share Based Compensation Allocation Of Unrecognized Period Costs Capitalized Amount
|
| X | ||||||||||
- Definition Increase In Stock Compensation Expense Due To The Restricted Stock Awards Granted
|
| X | ||||||||||
- Definition Increase In Stock Compensation Expense Due To The Stock Options Granted
|
| X | ||||||||||
- Definition Performance Percentage Criteria
|
| X | ||||||||||
- Definition Restricted Stock Awards Granted To Vested In Period if performance criteria are met.
|
| X | ||||||||||
- Definition Represents the compensation cost capitalized during the period arising from equity-based compensation arrangements (for example, shares of stock, units, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to employees under equity-based compensation awards that have yet to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, using a decimal to express in number of years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Equity-based compensation cost during the period with respect to the award, which will be recognized in income (as well as the total recognized tax benefit) or capitalized as part of the cost of an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stock-Based Compensation (Estimated Fair Value Of The Stock Options Granted) (Details) (USD $) In Millions, except Share data, unless otherwise specified | 0 Months Ended | 9 Months Ended | |||||
|---|---|---|---|---|---|---|---|
May 05, 2010 | Sep. 30, 2011
Stock Option [Member] | Sep. 30, 2010
Stock Option [Member] | |||||
| Options granted | 24,504 | 31,500 | [1] | 52,504 | [1] | ||
| Estimated fair value | $ 0.7 | $ 0.8 | |||||
| Estimate of stock volatility | 0.48 | 0.45 | |||||
| Estimated dividend yield | 0.00% | 0.00% | |||||
| Risk free interest rate | 2.00% | 2.00% | |||||
| Expected annual life based on prior experience, years | 5 | 5 | |||||
| Forfeiture rate | 0.00% | 0.00% | |||||
| Contingent options | 3,063 | ||||||
| Number of directors receiving options | 8 | ||||||
| |||||||
| X | ||||||||||
- Definition Number of Directors receiving options on May 6, 2010
|
| X | ||||||||||
- Definition Share Based Compensation Arrangement By Share Based Payment Award Contingent Options
|
| X | ||||||||||
- Definition Share Based Compensation Arrangement By Share Based Payment Award Estimated Fair Value
|
| X | ||||||||||
- Definition Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Estimated Stock Volatility
|
| X | ||||||||||
- Definition Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Rate
|
| X | ||||||||||
- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The period of time an equity-based award is expected to be outstanding. An equity-based award's expected term is generally determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Net number of share options (or share units) granted during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stock-Based Compensation (Fair Value Of The Restricted Stock Awards Granted During The Periods) (Details) (USD $) In Millions, except Share data, unless otherwise specified | 3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| Shares granted | 0 | 0 | 0 | 0 |
Restricted Stock [Member] | ||||
| Shares granted | 12,402 | 192,272 | 209,150 | 440,655 |
| Estimated fair value | $ 0.6 | $ 6.0 | $ 10.9 | $ 16.6 |
| Percentage of shares granted expected to be distributed | 95.00% | 89.00% | 93.00% | 91.00% |
| X | ||||||||||
- Definition Share Based Compensation Arrangement By Share Based Payment Award Estimated Fair Value
|
| X | ||||||||||
- Definition Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Shares Expected To Be Distributed
|
| X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivatives (Narrative) (Details) (USD $) In Millions | 1 Months Ended | 9 Months Ended | |
|---|---|---|---|
May 31, 2011 | Sep. 30, 2011 | Sep. 30, 2010 | |
| Number of outstanding interest rate swaps terminated | two | ||
| Accumulated OCI gain (loss) net of tax | $ 37.3 | $ 12.3 | |
| Expected earnings transfer | 25.0 | ||
| Period over which gain included in AOCI will be transferred to earnings, months | 12 | ||
Interest Rate Swaps [Member] | Cash Flow Hedging [Member] | |||
| Increase in interest expenses | 1.5 | ||
| Expense capitalized | 1.1 | ||
| X | ||||||||||
- Definition The estimated value of gains (losses), net anticipated to be transferred in the future from accumulated other comprehensive income into earnings.
|
| X | ||||||||||
- Definition The time period estimated for the anticipated transfer of gains (losses), net from accumulated other comprehensive income into earnings.
|
| X | ||||||||||
- Definition Increase Decrease in Interest Expenses
|
| X | ||||||||||
- Definition Number Of Outstanding Interest Rate Swaps Terminated
|
| X | ||||||||||
- Definition The effective portion of gain reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of cash paid during the current period for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivatives (Cash Flow Hedges Outstanding) (Details) | 9 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011
bbl | ||||||||
Swap [Member] | WTI - NYMEX [Member] | Crude Oil [Member] | Oct'11 - Dec'11 [Member] | ||||||||
| Hedged Volume (in Bbl/day) | 4,000 | |||||||
| Weighted Average Fixed Price for Swaps | 84.28 | |||||||
Swap [Member] | WTI - NYMEX [Member] | Crude Oil [Member] | Oct'11 - Dec'11 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Oct'11 | |||||||
Swap [Member] | WTI - NYMEX [Member] | Crude Oil [Member] | Oct'11 - Dec'11 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'11 | |||||||
Swap [Member] | WTI - NYMEX [Member] | Crude Oil [Member] | Jan'12 - Dec'12 [Member] | ||||||||
| Hedged Volume (in Bbl/day) | 4,500 | |||||||
| Weighted Average Fixed Price for Swaps | 95.91 | |||||||
Swap [Member] | WTI - NYMEX [Member] | Crude Oil [Member] | Jan'12 - Dec'12 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Jan'12 | |||||||
Swap [Member] | WTI - NYMEX [Member] | Crude Oil [Member] | Jan'12 - Dec'12 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'12 | |||||||
Swap [Member] | WTI - NYMEX [Member] | Crude Oil [Member] | Jan'13 - Dec'13 [Member] | ||||||||
| Hedged Volume (in Bbl/day) | 2,000 | |||||||
| Weighted Average Fixed Price for Swaps | 102.05 | |||||||
Swap [Member] | WTI - NYMEX [Member] | Crude Oil [Member] | Jan'13 - Dec'13 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Jan'13 | |||||||
Swap [Member] | WTI - NYMEX [Member] | Crude Oil [Member] | Jan'13 - Dec'13 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'13 | |||||||
Swap [Member] | CEGT - NYMEX [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | ||||||||
| Hedged Volume (MMBtu/day) | 10,000 | |||||||
| Weighted Average Fixed Price for Swaps | 4.43 | |||||||
Swap [Member] | CEGT - NYMEX [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Oct'11 | |||||||
Swap [Member] | CEGT - NYMEX [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'11 | |||||||
Swap [Member] | IF - NYMEX (HH) [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | ||||||||
| Hedged Volume (MMBtu/day) | 70,000 | |||||||
| Weighted Average Fixed Price for Swaps | 4.87 | |||||||
Swap [Member] | IF - NYMEX (HH) [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Oct'11 | |||||||
Swap [Member] | IF - NYMEX (HH) [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'11 | |||||||
Swap [Member] | IF - NYMEX (HH) [Member] | Natural Gas [Member] | Jan'12 - Dec'12 [Member] | ||||||||
| Hedged Volume (MMBtu/day) | 30,000 | |||||||
| Weighted Average Fixed Price for Swaps | 5.05 | |||||||
Swap [Member] | IF - NYMEX (HH) [Member] | Natural Gas [Member] | Jan'12 - Dec'12 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Jan'12 | |||||||
Swap [Member] | IF - NYMEX (HH) [Member] | Natural Gas [Member] | Jan'12 - Dec'12 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'12 | |||||||
Swap [Member] | IF - PEPL [Member] | Natural Gas [Member] | Jan'12 - Dec'12 [Member] | ||||||||
| Hedged Volume (MMBtu/day) | 15,000 | |||||||
| Weighted Average Fixed Price for Swaps | 5.62 | |||||||
Swap [Member] | IF - PEPL [Member] | Natural Gas [Member] | Jan'12 - Dec'12 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Jan'12 | |||||||
Swap [Member] | IF - PEPL [Member] | Natural Gas [Member] | Jan'12 - Dec'12 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'12 | |||||||
Swap [Member] | OPIS - Conway [Member] | Liquids [Member] | Oct'11 - Dec'11 [Member] | ||||||||
| Hedged Volume (Gal/mo) | 2,024,418 | [1] | ||||||
| Weighted Average Fixed Price for Swaps | 1.07 | [1] | ||||||
Swap [Member] | OPIS - Conway [Member] | Liquids [Member] | Oct'11 - Dec'11 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Oct'11 | |||||||
Swap [Member] | OPIS - Conway [Member] | Liquids [Member] | Oct'11 - Dec'11 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'11 | |||||||
Swap [Member] | OPIS - Conway [Member] | Liquids [Member] | Jan'12 - Mar'12 [Member] | ||||||||
| Hedged Volume (Gal/mo) | 1,350,014 | [1] | ||||||
| Weighted Average Fixed Price for Swaps | 1.10 | [1] | ||||||
Swap [Member] | OPIS - Conway [Member] | Liquids [Member] | Jan'12 - Mar'12 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Jan'12 | |||||||
Swap [Member] | OPIS - Conway [Member] | Liquids [Member] | Jan'12 - Mar'12 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Mar'12 | |||||||
Swap [Member] | OPIS - Conway [Member] | Liquids [Member] | Apr'12 - Dec'12 [Member] | ||||||||
| Hedged Volume (Gal/mo) | 180,006 | [2] | ||||||
| Weighted Average Fixed Price for Swaps | 2.11 | [2] | ||||||
Swap [Member] | OPIS - Conway [Member] | Liquids [Member] | Apr'12 - Dec'12 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Apr'12 | |||||||
Swap [Member] | OPIS - Conway [Member] | Liquids [Member] | Apr'12 - Dec'12 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'12 | |||||||
Swap [Member] | OPIS - Mont Belvieu [Member] | Liquids [Member] | Oct'11 - Dec'11 [Member] | ||||||||
| Hedged Volume (Gal/mo) | 1,240,068 | [1] | ||||||
| Weighted Average Fixed Price for Swaps | 1.00 | [1] | ||||||
Swap [Member] | OPIS - Mont Belvieu [Member] | Liquids [Member] | Oct'11 - Dec'11 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Oct'11 | |||||||
Swap [Member] | OPIS - Mont Belvieu [Member] | Liquids [Member] | Oct'11 - Dec'11 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'11 | |||||||
Swap [Member] | OPIS - Mont Belvieu [Member] | Liquids [Member] | Jan'12 - Mar'12 [Member] | ||||||||
| Hedged Volume (Gal/mo) | 1,155,018 | [1] | ||||||
| Weighted Average Fixed Price for Swaps | 0.91 | [1] | ||||||
Swap [Member] | OPIS - Mont Belvieu [Member] | Liquids [Member] | Jan'12 - Mar'12 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Jan'12 | |||||||
Swap [Member] | OPIS - Mont Belvieu [Member] | Liquids [Member] | Jan'12 - Mar'12 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Mar'12 | |||||||
Swap [Member] | OPIS - Mont Belvieu [Member] | Liquids [Member] | Apr'12 - Jun'12 [Member] | ||||||||
| Hedged Volume (Gal/mo) | 690,028 | [3] | ||||||
| Weighted Average Fixed Price for Swaps | 0.79 | [3] | ||||||
Swap [Member] | OPIS - Mont Belvieu [Member] | Liquids [Member] | Apr'12 - Jun'12 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Apr'12 | |||||||
Swap [Member] | OPIS - Mont Belvieu [Member] | Liquids [Member] | Apr'12 - Jun'12 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Jun'12 | |||||||
Basis Swap [Member] | CEGT - NYMEX [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Oct'11 | |||||||
Basis Swap [Member] | CEGT - NYMEX [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'11 | |||||||
Basis Swap [Member] | Tenn Zone - NYMEX [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | ||||||||
| Hedged Volume (MMBtu/day) | 15,000 | |||||||
| Weighted Average Fixed Price for Swaps | (0.14) | |||||||
Basis Swap [Member] | Tenn Zone - NYMEX [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | Start [Member] | ||||||||
| Commodity Derivatives Term | Oct'11 | |||||||
Basis Swap [Member] | Tenn Zone - NYMEX [Member] | Natural Gas [Member] | Oct'11 - Dec'11 [Member] | End [Member] | ||||||||
| Commodity Derivatives Term | Dec'11 | |||||||
| ||||||||
| X | ||||||||||
- Definition Cash Flow Hedge Derivative Instrument Hedged Volume Of Natural Gas
|
| X | ||||||||||
- Definition Cash Flow Hedge Derivative Instrument Hedged Volume Of Natural Gas In Gallons
|
| X | ||||||||||
- Definition Cash Flow Hedge Derivative Instrument Hedged Volume Of Oil
|
| X | ||||||||||
- Definition Cash Flow Hedge Derivative Instrument Weighted Average Fixed Price For Swaps
|
| X | ||||||||||
- Definition Commodity Derivatives Description Terms
|
Derivatives (Non-Qualifying Cash Flow Derivatives Outstanding) (Details) (Basis Swap [Member], Natural Gas [Member], Oct'11 - Dec'11 [Member], USD $) | 9 Months Ended |
|---|---|
Sep. 30, 2011 | |
CEGT - NYMEX [Member] | |
| Hedged Volume (MMBtu/day) | 10,000 |
| Basis Differential | $ (0.21) |
CEGT - NYMEX [Member] | Start [Member] | |
| Commodity Derivatives Term | Oct'11 |
CEGT - NYMEX [Member] | End [Member] | |
| Commodity Derivatives Term | Dec'11 |
PEPL - NYMEX [Member] | |
| Hedged Volume (MMBtu/day) | 10,000 |
| Basis Differential | (0.23) |
PEPL - NYMEX [Member] | Start [Member] | |
| Commodity Derivatives Term | Oct'11 |
PEPL - NYMEX [Member] | End [Member] | |
| Commodity Derivatives Term | Dec'11 |
Tenn Zone - NYMEX [Member] | |
| Hedged Volume (MMBtu/day) | 15,000 |
| Basis Differential | $ (0.14) |
Tenn Zone - NYMEX [Member] | Start [Member] | |
| Commodity Derivatives Term | Oct'11 |
Tenn Zone - NYMEX [Member] | End [Member] | |
| Commodity Derivatives Term | Dec'11 |
| X | ||||||||||
- Definition Commodity Derivatives Description Terms
|
| X | ||||||||||
- Definition Non Qualified Cash Flow Derivatives Basis Differential
|
| X | ||||||||||
- Definition Non-qualifying Cash Flow Hedge Derivative Instrument Hedged Volume Of Natural Gas
|
Derivatives (Fair Value Of Derivative Instruments And Locations In Balance Sheets) (Details) (USD $) In Thousands | Sep. 30, 2011 | Dec. 31, 2010 |
|---|---|---|
| Current derivative assets | $ 41,257 | $ 5,568 |
| Non-current derivative assets | 23,989 | 2,537 |
| Total derivatives assets | 65,246 | 8,105 |
| Current derivative liabilities | 552 | 14,446 |
| Non-current derivative liabilities | 0 | 4,359 |
| Total derivative liabilities | 552 | 18,805 |
Interest Rate Swaps [Member] | Designated As Hedging Instrument [Member] | ||
| Current derivative liabilities | 0 | 1,139 |
| Non-current derivative liabilities | 0 | 475 |
Designated As Hedging Instrument [Member] | ||
| Total derivatives assets | 65,246 | 7,628 |
| Total derivative liabilities | 342 | 18,664 |
Designated As Hedging Instrument [Member] | Commodity Contract [Member] | ||
| Current derivative assets | 41,257 | 5,091 |
| Non-current derivative assets | 23,989 | 2,537 |
| Current derivative liabilities | 342 | 13,166 |
| Non-current derivative liabilities | 0 | 3,884 |
Not Designated As Hedging Instrument [Member] | ||
| Total derivatives assets | 0 | 477 |
| Total derivative liabilities | 210 | 141 |
Not Designated As Hedging Instrument [Member] | Commodity Contract [Member] | ||
| Current derivative assets | 0 | 477 |
Not Designated As Hedging Instrument [Member] | Commodity Basis Swap [Member] | ||
| Current derivative liabilities | $ 210 | $ 141 |
| X | ||||||||||
- Definition Fair values as of the balance sheet date of all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fair values as of the balance sheet date for all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments and which are expected to be converted into cash or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fair values as of the balance sheet date of all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments which are expected to exist longer than one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivatives (Amount Of Gain Or (Loss) Recognized In Accumulated OCI On Derivative) (Details) (USD $) In Thousands | 9 Months Ended | |||||
|---|---|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | |||||
| Amount of Gain or (Loss) Recognized in Accumulated OCI on Derivative | $ 37,323 | [1] | $ 12,266 | [1] | ||
Interest Rate Swaps [Member] | ||||||
| Amount of Gain or (Loss) Recognized in Accumulated OCI on Derivative | 0 | [1] | (1,193) | [1] | ||
Commodity Derivatives [Member] | ||||||
| Amount of Gain or (Loss) Recognized in Accumulated OCI on Derivative | $ 37,323 | [1] | $ 13,459 | [1] | ||
| ||||||
| X | ||||||||||
- Definition The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivatives (Gain Or Loss Of Reclassified Accumulated Other Comprehensive Income And Recognized Income) (Details) (USD $) In Thousands | 3 Months Ended | 9 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |||||||||
| Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income | $ 2,003 | [1] | $ 14,462 | [1] | $ (2,616) | [1] | $ 35,540 | [1] | ||||
| Amount of Gain or (Loss) Recognized in Income | 2,336 | [2] | 176 | [2] | 4,158 | [2] | 605 | [2] | ||||
Interest Rate Swaps [Member] | Interest [Member] | ||||||||||||
| Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income | 0 | [1] | (298) | [1] | (1,734) | [1] | (907) | [1] | ||||
| Amount of Gain or (Loss) Recognized in Income | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Oil And Natural Gas Revenue [Member] | Commodity Derivatives [Member] | ||||||||||||
| Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income | 2,003 | [1] | 14,760 | [1] | (882) | [1] | 36,447 | [1] | ||||
| Amount of Gain or (Loss) Recognized in Income | $ 2,336 | [2] | $ 176 | [2] | $ 4,158 | [2] | $ 605 | [2] | ||||
| ||||||||||||
| X | ||||||||||
- Definition The effective portion of net gain (loss) reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivatives (Amount Of Loss Recognized In Income On Derivative) (Details) (USD $) In Thousands | 3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| Amount of Loss Recognized in Income on Derivative | $ (61) | $ (427) | $ (1,008) | $ 597 |
Oil And Natural Gas Revenue [Member] | Commodity Derivatives [Member] | ||||
| Amount of Loss Recognized in Income on Derivative | $ (61) | $ (427) | $ (1,008) | $ 597 |
| X | ||||||||||
- Definition Loss included in earnings for the period from the change in fair value of derivative instruments not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value Measurements (Narrative) (Details) (USD $) In Millions | Sep. 30, 2011 |
|---|---|
| Fair Value Measurements | |
| Carrying amount of long-term debt | $ 250.0 |
| Estimated fair value of long-term debt | $ 249.4 |
| X | ||||||||||
- Definition Fair Value Measurements (Abstract)
|
| X | ||||||||||
- Definition Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date before deducting unamortized discount or premiums (if any). May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission.
|
Fair Value Measurements (Recurring Fair Value Measurements) (Details) (USD $) In Thousands | Sep. 30, 2011 | Dec. 31, 2010 |
|---|---|---|
Commodity Derivatives [Member] | ||
| Financial assets (liabilities) | $ 64,694 | $ (9,086) |
Commodity Derivatives [Member] | Level 2 [Member] | ||
| Financial assets (liabilities) | 39,565 | (19,954) |
Commodity Derivatives [Member] | Level 3 [Member] | ||
| Financial assets (liabilities) | 25,129 | 10,868 |
Interest Rate Swaps [Member] | Swap [Member] | ||
| Financial assets (liabilities) | (1,614) | |
Interest Rate Swaps [Member] | Swap [Member] | Level 2 [Member] | ||
| Financial assets (liabilities) | 0 | |
Interest Rate Swaps [Member] | Swap [Member] | Level 3 [Member] | ||
| Financial assets (liabilities) | $ (1,614) |
| X | ||||||||||
- Definition Fair values as of the balance sheet date of the net amount of all assets and liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value Measurements (Reconciliations Of Level 3 Fair Value Measurements) (Details) (USD $) In Thousands | 3 Months Ended | 9 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |||||||||
Commodity Swap [Member] | ||||||||||||
| Beginning of period | $ 11,749 | $ 10,868 | ||||||||||
| Included in earnings (loss) | 4,046 | [1] | 11,923 | [1] | ||||||||
| Included in other comprehensive income (loss) | 13,182 | 13,264 | ||||||||||
| Purchases, issuance and settlements | (3,848) | (10,926) | ||||||||||
| End of period | 25,129 | 25,129 | ||||||||||
| Total gains for the period included in earnings attributable to the change in unrealized gains relating to assets still held at end of period | 198 | 997 | ||||||||||
Commodity Swaps And Collars [Member] | ||||||||||||
| Beginning of period | 33,313 | 19,948 | ||||||||||
| Included in earnings (loss) | 16,558 | [2] | 44,322 | [2] | ||||||||
| Included in other comprehensive income (loss) | (1,266) | 10,646 | ||||||||||
| Purchases, issuance and settlements | (16,809) | (43,120) | ||||||||||
| End of period | 31,796 | 31,796 | ||||||||||
| Total gains for the period included in earnings attributable to the change in unrealized gains relating to assets still held at end of period | (251) | 1,202 | ||||||||||
Interest Rate Swaps [Member] | ||||||||||||
| Beginning of period | 0 | (1,971) | (1,614) | (1,948) | ||||||||
| Included in earnings (loss) | 0 | [1] | (298) | [2] | (1,734) | [1] | (907) | [2] | ||||
| Included in other comprehensive income (loss) | 0 | 39 | 1,614 | 16 | ||||||||
| Purchases, issuance and settlements | 0 | 298 | 1,734 | 907 | ||||||||
| End of period | 0 | (1,932) | 0 | (1,932) | ||||||||
| Total gains for the period included in earnings attributable to the change in unrealized gains relating to assets still held at end of period | $ 0 | $ 0 | $ 0 | $ 0 | ||||||||
| ||||||||||||
| X | ||||||||||
- Definition Total Gains Losses for the Period Included in Earnings Attributable to change in unrealized gain/loss.
|
| X | ||||||||||
- Definition This element represents total gains or losses for the period (realized and unrealized), arising from assets measured at fair value on a recurring basis using unobservable inputs (Level 3), which are included in earnings or resulted in a change in net asset value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents total gains or losses for the period (realized and unrealized), arising from assets measured at fair value on a recurring basis using unobservable inputs (Level 3), which are included in other comprehensive income (a separate component of shareholders' equity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents purchases, sales, issuances, and settlements (net) which have taken place during the period in relation to assets measured at fair value on a recurring basis using unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents an asset measured at fair value using significant unobservable inputs (Level 3) which is required for reconciliation purposes of beginning and ending balances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Industry Segment Information (Revenue From Different Segments) (Details) (USD $) In Thousands | 3 Months Ended | 9 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |||||||
| Industry Segment Information | ||||||||||
| Contract drilling | $ 140,193 | $ 96,705 | $ 381,982 | $ 246,252 | ||||||
| Elimination of inter-segment revenue | (11,266) | (11,701) | (39,884) | (28,333) | ||||||
| Contract drilling net of inter-segment revenue | 128,927 | 85,004 | 342,098 | 217,919 | ||||||
| Oil and natural gas | 134,897 | 96,562 | 376,393 | 286,751 | ||||||
| Gas gathering and processing | 79,919 | 47,864 | 200,821 | 148,606 | ||||||
| Elimination of inter-segment revenue | (19,231) | (10,435) | (56,001) | (33,698) | ||||||
| Gas gathering and processing net of inter-segment revenue | 60,688 | 37,429 | 144,820 | 114,908 | ||||||
| Other, net | (667) | (879) | (566) | 9,691 | ||||||
| Total revenues | 323,845 | 218,116 | 862,745 | 629,269 | ||||||
| Contract drilling | 35,105 | 21,129 | 94,679 | 36,372 | ||||||
| Oil and natural gas | 58,104 | 39,379 | 150,584 | 129,062 | ||||||
| Gas gathering and processing | 3,372 | 2,863 | 14,050 | 10,755 | ||||||
| Total operating income | 96,581 | [1] | 63,371 | [1] | 259,313 | [1] | 176,189 | [1] | ||
| General and administrative expense | (7,800) | (6,637) | (22,188) | (19,372) | ||||||
| Interest expense, net | (1,351) | 0 | (2,078) | 0 | ||||||
| Other income (loss), net | (667) | (879) | (566) | 9,691 | ||||||
| Income before income taxes | $ 86,763 | $ 55,855 | $ 234,481 | $ 166,508 | ||||||
| ||||||||||
| X | ||||||||||
- Definition Contract Drilling Operating Income Loss
|
| X | ||||||||||
- Definition Revenue from contract drilling services and mobilization of equipment.
|
| X | ||||||||||
- Definition Contract Drilling Revenues Gross
|
| X | ||||||||||
- Definition Elimination Of Inter Segment Revenue Of Contract Drilling
|
| X | ||||||||||
- Definition Elimination Of Inter Segment Revenue Of Gas gathering and processing
|
| X | ||||||||||
- Definition Gas Gathering And Processing Operating Income Loss
|
| X | ||||||||||
- Definition Gas Gathering And Processing Revenue Gross
|
| X | ||||||||||
- Definition Oil And Natural Gas Operating Income Loss
|
| X | ||||||||||
- Definition Revenue related to midstream and downstream gas activities. May include the following: gathering from wells, processing to remove impurities, storage, transmission, and the sale of natural gas and related products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue during the period related to oil and gas business activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net result for the period of deducting operating expenses from operating revenues.
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- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Revenues from the sale of other goods or rendering of other services, not elsewhere specified in the taxonomy; net of (reduced by) sales adjustments, returns, allowances, and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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