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Hedge ineffectiveness - realized

$ 5,000

$ 1,081,000

$ (352,000)

$ 1,578,000

Hedge ineffectiveness - unrealized

260,000

356,000

11,000

(97,000)

^[1]

Change in fair value of derivatives that do not qualify for hedge accounting

^[2]

(4,409,000)

(61,595,000)

42,169,000

(30,070,000)

Realized gain on settlements - gas

^[2],[3]

10,690,000

48,370,000

7,051,000

86,742,000

Realized gain on settlements - oil

^[2],[3]

1,932,000

7,538,000

6,546,000

(9,856,000)

48,879,000

65,691,000

Derivative Assets - Commodity collars and basis swaps

109,896,000

$ 25,652,000

Derivative liabilities:

Derivative Liabilities - Commodity collars and basis swaps

(2,781,000)

(14,759,000)

Derivatives that qualify for cash flow hedge accounting:

93,448,000

22,062,000

Derivatives that do not qualify for hedge accounting:

93,448,000

22,062,000

(Liabilities) Carrying Value

20,574,000

6,738,000

(6,907,000)

(17,907,000)

Effects of cash flow hedges on accumulated other comprehensive income (loss)

13,667,000

(11,169,000)

Income taxes

2,611,000

1,760,000

(29,618,000)

(26,137,000)

Income taxes

^[4]

(6,969,000)

(19,668,000)

(7,431,000)

(38,657,000)

Effects of cash flow hedges on accumulated other comprehensive income (loss), total

(4,257,000)

^[1]

(3,000,000)

48,325,000

43,183,000

Effects of cash flow hedges on accumulated other comprehensive income (loss), total

^[4]

11,371,000

33,488,000

12,124,000

65,822,000

Effects of non-hedge derivatives on consolidated statement of operations

Gain (Loss) Recognized in Income (Non-hedge Derivatives)

6,281,000

(11,293,000)

49,220,000

64,210,000

Gain (Loss) Recognized in Income (Ineffective Portion)

265,000

1,437,000

(341,000)

1,481,000

$ 6,546,000

(9,856,000)

$ 48,879,000

65,691,000

Hedged Gas Collars (In Bcf)

152.9

Hedged Oil Collars (In Million Barrels)

2,100,000

Derivative assets liabilities at fair value net

$ 111,900,000

Unrealized pre-tax derivative gain

68,600,000

Unrealized pre-tax derivative gain expected to be reclassified into earnings in 2010

26,400,000

Unrealized pre-tax derivative loss expected to be reclassified into earnings in 2011

42,200,000

Gains (Losses) in oil and gas sales related to settled hedging transactions

18,300,000

53,200,000

19,600,000

104,500,000

Ineffective unrealized gains (losses) recognized in income

265,000

1,437,000

(341,000)

1,481,000

Gains/losses recorded due to the discontinuance of hedge accounting treatment

5,400,000

Net unrealized pre-tax loss on fair value of the basis swaps

4,800,000

$ 4,800,000

Number of financial institutions with whom we conduct derivative activities

Number of secured financial institutions with whom we conduct derivative activities

Collars [Member]

Derivatives that qualify for cash flow hedge accounting:

1,748,000

(5,276,000)

$ 48,097,000

26,351,000

^[1]

93,448,000

22,062,000

Derivatives that do not qualify for hedge accounting:

^[1]

93,448,000

22,062,000

(Liabilities) Carrying Value

^[1]

20,574,000

6,673,000

^[1]

(2,149,000)

Effects of cash flow hedges on accumulated other comprehensive income (loss)

^[1]

18,425,000

6,673,000

Change in Hedge Derivative Fair Value

(6,868,000)

^[4]

(4,760,000)

77,943,000

69,320,000

Realized Gain (Loss) Reclassified from OCI into Revenue

^[4]

18,340,000

53,156,000

19,555,000

104,479,000

Effects of non-hedge derivatives on consolidated statement of operations

Gain (Loss) Recognized in Income (Non-hedge Derivatives)

1,483,000

(6,713,000)

48,438,000

24,870,000

Gain (Loss) Recognized in Income (Ineffective Portion)

265,000

1,437,000

(341,000)

1,481,000

1,748,000

(5,276,000)

48,097,000

26,351,000

Ineffective unrealized gains (losses) recognized in income

265,000

1,437,000

(341,000)

1,481,000

Swap [Member]

Effects of non-hedge derivatives on consolidated statement of operations

5,558,000

53,558,000

Gain (Loss) Recognized in Income (Non-hedge Derivatives)

5,558,000

53,558,000

5,558,000

53,558,000

Basis Swap [Member]

Derivatives that do not qualify for hedge accounting:

4,798,000

(10,138,000)

782,000

(14,218,000)

(Liabilities) Carrying Value

^[1]

65,000

^[1]

(4,758,000)

(17,907,000)

Effects of non-hedge derivatives on consolidated statement of operations

^[1]

(4,758,000)

(17,842,000)

Gain (Loss) Recognized in Income (Non-hedge Derivatives)

4,798,000

(10,138,000)

782,000

(14,218,000)

Derivative volumes hedged and average hedge prices

$ 4,798,000

$ (10,138,000)

$ 782,000

$ (14,218,000)

Collar Oil [Member]

70.44

90.33

70.44

Crude Oil [Member] | Collars [Member]

90.33

Derivative Assets - Commodity collars and basis swaps

$ (1,560,000)

66,000

Crude Oil 2010 [Member] | Collars [Member]

Derivative volumes hedged and average hedge prices

1,000 bbls/day

93.75

Crude Oil 2011 [Member] | Collars [Member]

93.75

Derivative volumes hedged and average hedge prices

5,244 bbls/day

Derivative volumes hedged and average hedge prices

Natural Gas [Member]

5.66

6.98

5.66

Natural Gas [Member] | Collars [Member]

6.98

Derivative Assets - Commodity collars and basis swaps

$ 113,433,000

26,649,000

Derivative liabilities:

Derivative Liabilities - Commodity collars and basis swaps

2,020,000

Natural Gas [Member] | Basis Swap [Member]

Derivative Assets - Commodity collars and basis swaps

(1,977,000)

(1,063,000)

Derivative liabilities:

Derivative Liabilities - Commodity collars and basis swaps

$ (2,781,000)

$ (16,779,000)

Natural Gas 2010 [Member] | Collars [Member]

Derivative volumes hedged and average hedge prices

325,000 Mmbtu/day

5.55

7.2

5.55

Natural Gas 2011 [Member] | Collars [Member]

7.2

Derivative volumes hedged and average hedge prices

255,000 Mmbtu/day

5.73

6.83

5.73

Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value

6.83

[1]	Included in unrealized derivative gain (loss) on our balance sheet.
[2]	Derivatives that do not qualify for hedge accounting.
[3]	These amounts represent the realized gains and losses on settled derivatives that do not qualify for hedge accounting, which before settlement are included in the category above called change in fair value of derivatives that do not qualify for hedge accounting.
[4]	For realized gains upon contract settlement, the reduction in other comprehensive income is offset by an increase in oil and gas revenue. For realized losses upon contract settlement, the increase in other comprehensive income is offset by a decrease in oil and gas revenue.

Fair Value Measurements (Details)

3 Months Ended

6 Months Ended

Jun. 30, 2010

USD ($)

Mar. 31, 2010

USD ($)

Jun. 30, 2009

USD ($)

Jun. 30, 2010

USD ($)

Jun. 30, 2009

USD ($)

Dec. 31, 2009

USD ($)

Trading securities held in the deferred compensation plans

$ 42,947,000

Values of assets measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition

Long-lived asset held for use, fair value

16,075,000

Long-lived asset held for use, impairment

6,505,000

Assets:

109,896,000

$ 25,652,000

Liabilities:

Interest and Dividend Income, Securities, Trading or Measured at Fair Value

(2,781,000)

(14,759,000)

Fair Value Measurements (Textuals)

39,000

$ 50,000

71,000

$ 93,000

Mark-to-market gain (loss)

3,200,000

$ 4,900,000

3,800,000

$ 3,400,000

Oil and gas property impairment

$ 6,505,000

6,505,000

Fair value of Gulf Coast property

16,075,000

Allowance for uncollectible receivables

1,400,000

2,200,000

Derivative Asset Payable

463,000

$ 463,000

Number of financial institutions included in counterparties

Number of secured lenders in bank credit facility

Collars [Member]

Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value

Derivatives - collars

111,873,000

$ 111,873,000

Basis Swap [Member]

Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value

Derivatives - basis swaps

(4,758,000)

Quoted Prices in Active Markets for Identical Assets [Member]

Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value

Trading securities held in the deferred compensation plans

42,947,000

Significant Other Observable Inputs [Member] | Collars [Member]

Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value

Derivatives - collars

111,873,000

Significant Other Observable Inputs [Member] | Basis Swap [Member]

Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value

Derivatives - basis swaps

(4,758,000)

Significant Unobservable Inputs [Member] | Oil and Gas Properties [Member]

Values of assets measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition

Long-lived asset held for use, fair value

16,100,000

Fair Value Measurements (Textuals)

Fair value of Gulf Coast property

$ 16,100,000

Carrying Value [Member]

Assets:

109,896,000

25,652,000

Marketable securities

^[1]

42,947,000

43,554,000

Liabilities:

(2,781,000)

(14,759,000)

Long-term debt

^[2]

(1,859,562,000)

(1,707,833,000)

Fair Value [Member]

Assets:

109,896,000

25,652,000

Marketable securities

^[1]

42,947,000

43,554,000

Liabilities: