View Filing Data

Print Document View Excel Document

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2012	Feb. 22, 2013	Jun. 30, 2012
Entity Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Trading Symbol	RRC
Entity Registrant Name	RANGE RESOURCES CORP
Entity Central Index Key	0000315852
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		162,842,514
Entity Public Float			$ 9,760,273,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 252	$ 92
Accounts receivable, less allowance for doubtful accounts of $2,374 and $4,015	167,495	127,180
Unrealized derivative gain	137,552	173,921
Inventory and other	22,315	14,070
Total current assets	327,614	315,263
Unrealized derivative gain	15,715	77,579
Equity method investments	132,449	138,130
Natural gas and oil properties, successful efforts method	8,111,775	6,784,027
Accumulated depletion and depreciation	(2,015,591)	(1,626,461)
Natural gas and oil properties, successful efforts method, net	6,096,184	5,157,566
Transportation and field assets	117,717	123,349
Accumulated depreciation and amortization	(76,150)	(70,671)
Transportation and field assets, net	41,567	52,678
Other assets	115,206	104,254
Total assets	6,728,735	5,845,470
Current liabilities:
Accounts payable	234,651	311,369
Asset retirement obligations	2,470	5,005
Accrued liabilities	139,379	109,109
Liabilities of discontinued operations		653
Deferred tax liability	37,924	56,595
Accrued interest	36,248	29,201
Unrealized derivative loss	4,471
Total current liabilities	455,143	511,932
Bank debt	739,000	187,000
Subordinated notes	2,139,185	1,787,967
Deferred tax liability	698,302	710,490
Unrealized derivative loss	3,463	173
Deferred compensation liability	187,604	169,188
Asset retirement obligations and other liabilities	148,646	86,300
Total liabilities	4,371,343	3,453,050
Commitments and contingencies
Stockholders' Equity
Preferred stock, $1 par, 10,000,000 shares authorized, none issued and outstanding
Common stock, $0.01 par, 475,000,000 shares authorized, 162,641,896 issued at December 31, 2012 and 161,302,973 issued at December 31, 2011	1,626	1,613
Common stock held in treasury, 127,798 shares at December 31, 2012 and 171,426 shares at December 31, 2011	(4,760)	(6,343)
Additional paid-in capital	1,915,627	1,866,554
Retained earnings	360,990	373,969
Accumulated other comprehensive income	83,909	156,627
Total stockholders' equity	2,357,392	2,392,420
Total liabilities and stockholders' equity	$ 6,728,735	$ 5,845,470

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Allowance for doubtful accounts on accounts receivable	$ 2,374	$ 4,015
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	475,000,000	475,000,000
Common stock, shares issued	162,641,896	161,302,973
Common stock held in treasury, shares	127,798	171,426

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenues and other income:
Natural gas, NGLs and oil sales	$ 398,688	$ 337,040	$ 298,349	$ 317,617	$ 331,720	$ 304,230	$ 285,353	$ 251,963	$ 1,351,694	$ 1,173,266	$ 823,290
Derivative fair value income	(5,571)	(40,728)	148,569	(60,833)	(37,879)	65,761	53,039	(40,834)	41,437	40,087	51,634
Gain on the sale of assets	61,836	949	(3,227)	(10,426)	3,540	203	(1,622)	139	49,132	2,260	76,642
Brokered natural gas, marketing and other	3,085	2,519	5,240	4,597	5,837	3,775	1,506	3,911	15,441	15,029	9,831
Total revenues and other income	458,038	299,780	448,931	250,955	303,218	373,969	338,276	215,179	1,457,704	1,230,642	961,397
Costs and expenses:
Direct operating	30,214	29,628	27,041	29,022	25,918	29,828	28,509	28,717	115,905	112,972	96,274
Transportation, gathering and compression	55,281	51,600	44,744	40,820	34,576	32,431	28,666	25,082	192,445	120,755	62,837
Production and ad valorem taxes	9,881	8,819	11,786	36,634	5,920	7,317	7,550	6,879	67,120	27,666	26,107
Brokered natural gas and marketing	4,994	4,887	6,491	4,062	3,151	3,333	2,981	2,521	20,434	11,986	9,761
Exploration	18,022	14,752	15,517	21,516	24,982	17,606	11,592	27,187	69,807	81,367	60,506
Abandonment and impairment of unproved properties	21,230	40,118	43,641	20,289	27,639	16,627	18,900	16,537	125,278	79,703	49,738
General and administrative	46,582	44,497	44,005	38,729	42,205	35,907	39,120	33,959	173,813	151,191	140,571
Termination costs											8,452
Deferred compensation plan	(14,352)	20,052	9,333	(7,830)	9,640	8,717	(5,778)	30,630	7,203	43,209	(10,216)
Interest expense	44,708	43,997	42,888	37,205	34,709	34,181	31,383	24,779	168,798	125,052	90,665
Loss on early extinguishment of debt	11,063					(4)	18,580		11,063	18,576	5,351
Depletion, depreciation and amortization	113,216	123,059	108,802	100,151	97,092	93,619	78,294	72,216	445,228	341,221	275,238
Impairment of proved properties and other assets	34,273	1,281				38,681			35,554	38,681	6,505
Total costs and expenses	375,112	382,690	354,248	320,598	305,832	318,243	259,797	268,507	1,432,648	1,152,379	821,789
Income from continuing operations before income taxes	82,926	(82,910)	94,683	(69,643)	(2,614)	55,726	78,479	(53,328)	25,056	78,263	139,608
Income tax expense (benefit)
Current	(1,778)				636	(7)	8		(1,778)	637	(836)
Deferred	31,742	(29,074)	39,007	(27,843)	(425)	22,547	32,695	(19,897)	13,832	34,920	51,746
Total	29,964	(29,074)	39,007	(27,843)	211	22,540	32,703	(19,897)	12,054	35,557	50,910
Income from continuing operations					(2,825)	33,186	45,776	(33,431)	13,002	42,706	88,698
Discontinued operations, net of taxes					(164)	1,569	5,517	8,398		15,320	(327,954)
Net (loss) income	$ 52,962	$ (53,836)	$ 55,676	$ (41,800)	$ (2,989)	$ 34,755	$ 51,293	$ (25,033)	$ 13,002	$ 58,026	$ (239,256)
Income (loss) per common share:
Basic-income from continuing operations					$ (0.02)	$ 0.21	$ 0.28	$ (0.21)	$ 0.08	$ 0.26	$ 0.56
-discontinued operations						0.01	0.04	0.05		0.10	(2.09)
-net income (loss)	$ 0.33	$ (0.34)	$ 0.34	$ (0.26)	(0.02)	0.22	0.32	(0.16)	0.08	0.36	(1.53)
Diluted-income from continuing operations					(0.02)	0.20	0.28	(0.21)	0.08	0.26	0.55
-discontinued operations						0.01	0.04	0.05		0.10	(2.07)
-net income (loss)	$ 0.32	$ (0.34)	$ 0.34	$ (0.26)	$ (0.02)	$ 0.21	$ 0.32	$ (0.16)	$ 0.08	$ 0.36	$ (1.52)
Weighted average common shares outstanding:
Basic									159,431	158,030	156,874
Diluted									160,307	159,441	158,428

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Net income (loss)	$ 13,002	$ 58,026	$ (239,256)
Other comprehensive (loss) income:
Realized loss (gain) on hedge derivative contract settlements reclassified into earnings from other comprehensive income (loss), net of taxes	(144,434)	(82,196)	(39,931)
Change in unrealized deferred hedging gains (losses), net of taxes	71,716	171,353	100,980
Total comprehensive (loss) income	$ (59,716)	$ 147,183	$ (178,207)

- 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.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

- Definition

Net of tax amount, before reclassification adjustments, of the change in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Also includes an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 10A
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669646-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 17, 20
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 121
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 24
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Operating activities:
Net income (loss)	$ 13,002	$ 58,026	$ (239,256)
Adjustments to reconcile net income (loss) to net cash provided from operating activities:
(Gain) loss from discontinued operations		(15,320)	327,954
Loss (gain) from equity method investments, net of distributions	5,670	16,871	(7,366)
Deferred income tax expense	13,832	34,920	51,746
Depletion, depreciation and amortization and proved property impairment	480,782	379,902	281,743
Exploration dry hole costs	841	3,888	3,700
Mark-to-market on natural gas and oil derivatives not designated as hedges (gain) loss	(5,958)	(15,762)	2,086
Abandonment and impairment of unproved properties	125,278	79,703	49,738
Unrealized derivative loss (gain)	3,221	(2,183)	(2,387)
Allowance for bad debts	750	946	3,608
Amortization of deferred financing costs, loss on extinguishment of debt and other	23,165	25,458	10,072
Deferred and stock-based compensation	60,136	86,979	34,964
Gain on the sale of assets	(49,132)	(2,259)	(76,642)
Changes in working capital:
Accounts receivable	(48,986)	(52,112)	(6,512)
Inventory and other	(7,376)	865	(333)
Accounts payable	13,654	738	2,867
Accrued liabilities and other	18,220	9,540	(2,096)
Net cash provided from continuing operations	647,099	610,200	433,886
Net cash provided from discontinued operations		21,437	79,436
Net cash provided from operating activities	647,099	631,637	513,322
Investing activities:
Additions to natural gas and oil properties	(1,498,628)	(1,199,545)	(732,860)
Additions to field service assets	(4,762)	(11,607)	(14,944)
Acreage and proved property purchases	(191,065)	(226,500)	(296,503)
Investment in equity method investments and other assets			(45)
Proceeds from disposal of assets	168,219	53,926	327,765
Purchase of marketable securities held by the deferred compensation plan	(60,406)	(25,388)	(17,670)
Proceeds from the sales of marketable securities held by the deferred compensation plan	58,084	20,410	19,572
Net cash used in investing activities from continuing operations	(1,528,558)	(1,388,704)	(714,685)
Net cash provided from (used in) investing activities from discontinued operations		840,723	(84,173)
Net cash used in investing activities	(1,528,558)	(547,981)	(798,858)
Financing activities:
Borrowing on credit facilities	1,773,000	887,826	1,055,000
Repayment on credit facilities	(1,221,000)	(974,826)	(1,105,000)
Issuance of subordinated notes	600,000	500,000	500,000
Repayment of subordinated notes	(259,375)	(413,697)	(202,458)
Dividends paid	(25,981)	(25,756)	(25,574)
Debt issuance costs	(12,605)	(22,003)	(9,600)
Issuance of common stock	2,073	619	5,903
Change in cash overdrafts	(1,126)	(51,474)	64,100
Proceeds from the sales of common stock held by the deferred compensation plan	26,633	12,899	5,246
Net cash provided from (used in) financing activities	881,619	(86,412)	287,617
Increase (decrease) in cash and cash equivalents	160	(2,756)	2,081
Cash and cash equivalents at beginning of year	92	2,848	767
Cash and cash equivalents at end of year	$ 252	$ 92	$ 2,848

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common stock [Member]	Treasury common stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive income (loss) [Member]
Beginning balance at Dec. 31, 2009	$ 2,378,589	$ 1,583	$ (7,964)	$ 1,772,020	$ 606,529	$ 6,421
Beginning balance Shares at Dec. 31, 2009		158,336
Issuance of common stock	26,156	$ 18		26,138
Issuance of common stock, shares		1,778
Stock-based compensation expense	22,797			22,797
Common dividends declared ($0.16 per share)	(25,574)				(25,574)
Treasury stock issuance			452	(452)
Other comprehensive income	61,049					61,049
Net income (loss)	(239,256)				(239,256)
Ending balance at Dec. 31, 2010	2,223,761	$ 1,601	(7,512)	1,820,503	341,699	67,470
Ending balance Shares at Dec. 31, 2010		160,114
Issuance of common stock	8,882	$ 12		8,870
Issuance of common stock, shares		1,189
Stock-based compensation expense	26,674			26,674
Tax benefit of stock compensation	11,676			11,676
Common dividends declared ($0.16 per share)	(25,756)				(25,756)
Treasury stock issuance			1,169	(1,169)
Other comprehensive income	89,157					89,157
Net income (loss)	58,026				58,026
Ending balance at Dec. 31, 2011	2,392,420	$ 1,613	(6,343)	1,866,554	373,969	156,627
Ending balance Shares at Dec. 31, 2011		161,303
Issuance of common stock	20,264	$ 13		20,251
Issuance of common stock, shares		1,339
Stock-based compensation expense	30,405			30,405
Common dividends declared ($0.16 per share)	(25,981)				(25,981)
Treasury stock issuance			1,583	(1,583)
Other comprehensive income	(72,718)					(72,718)
Net income (loss)	13,002				13,002
Ending balance at Dec. 31, 2012	$ 2,357,392	$ 1,626	$ (4,760)	$ 1,915,627	$ 360,990	$ 83,909
Ending balance Shares at Dec. 31, 2012		162,642

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended												12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Common dividends declared	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.16	$ 0.16	$ 0.16

SUMMARY OF ORGANIZATION AND NATURE OF BUSINESS

12 Months Ended

Dec. 31, 2012

SUMMARY OF ORGANIZATION AND NATURE OF BUSINESS

(1) SUMMARY OF ORGANIZATION AND NATURE OF BUSINESS

Range Resources Corporation (“Range,” “we,” “us,” or “our”) is a Fort Worth, Texas-based independent natural gas and oil company primarily engaged in the exploration, development and acquisition of natural gas properties in the Appalachian and Southwestern regions of the United States. Our objective is to build stockholder value through consistent growth in reserves and production on a cost-efficient basis. Range is a Delaware corporation with our common stock listed and traded on the New York Stock Exchange under the symbol “RRC.”

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements include the accounts of all of our subsidiaries. Investments in entities over which we have significant influence, but not control, are accounted for using the equity method of accounting and are carried at our share of net assets plus loans and advances. Income from equity method investments represents our proportionate share of income generated by equity method investees and is included in brokered natural gas, marketing and other revenues in the accompanying consolidated statements of operations. All material intercompany balances and transactions have been eliminated.

Discontinued Operations

During February 2011, we entered into an agreement to sell our Barnett Shale assets. In April 2011, we completed the sale of most of these assets and closed the remainder of the sale in August 2011. We have classified the historical results of the operations from such properties as discontinued operations, net of tax, in the accompanying statements of operations. See also Note 3 and Note 4 for more information regarding the sale of our Barnett Shale assets. Unless otherwise indicated, the information in these notes relate to our continuing operations.

Use of Estimates

The preparation of financial statements in accordance with generally accepted accounting principles in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at year-end, the reported amounts of revenues and expenses during the reporting period. Depletion of natural gas and oil properties is determined using estimates of proved oil and gas reserves. Our assessment of the recoverability of our proved natural gas and oil properties, and any assessment of impairment, is based on estimates of both proved and probable oil and gas reserves. There are numerous uncertainties inherent in the estimation of quantities of proved and probable and reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluation for impairment of proved and unproved natural gas and oil properties are subject to numerous uncertainties, including, among others, estimates of future recoverable reserves and commodity price outlook. We base our estimates on historical experience and various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments that are not readily apparent from other sources. Actual results could differ from these estimates and changes in these estimates are recorded when known.

Reclassifications

Certain reclassifications have been made to prior years’ reported amounts in order to conform with the current year presentation. This includes the reclassification of gas purchases and other marketing costs to brokered natural gas and marketing expense. These reclassifications did not impact our net income from continuing operations, stockholders’ equity or cash flows (in thousands).


	2011		2010
Other revenues, as previously reported	$	3,043	$	70
Revision of brokered natural gas and marketing		11,986		9,761

Brokered natural gas, marketing and other revenue, reported	$	15,029	$	9,831


Brokered natural gas and marketing expenses, previously reported	$	—	$	—
Revision of brokered natural gas and marketing expenses		11,986		9,761

Brokered natural gas and marketing expenses, reported	$	11,986	$	9,761

Business Segment Information

We have evaluated how we are organized and managed and have identified only one operating segment, which is the exploration and production of natural gas, NGLs and oil. We consider our gathering, processing and marketing functions as ancillary to our natural gas and oil producing activities. Operating segments are defined as components of an enterprise that engage in activities from which it may earn revenues and incur expenses for which separate operational financial information is available and this information is regularly evaluated by the chief operating decision maker for the purpose of allocating resources and assessing performance.

We have a single company-wide management team that administers all properties as a whole rather than by discrete operating segments. We track only basic operational data by area. We do not maintain complete separate financial statement information by area. We measure financial performance as a single enterprise and not on an area-by-area basis. Throughout the year, we allocate capital resources on a project-by-project basis, across our entire asset base to maximize profitability without regard to individual areas.

Revenue Recognition, Accounts Receivable and Gas Imbalances

Natural gas, NGLs and oil sales are recognized when the products are sold and delivery to the purchaser has occurred. We generally sell natural gas, NGLs and oil under two types of agreements, which are common in our industry. Both types of agreements include transportation charges. We are reporting our gathering and transportation costs in accordance with Financial Accounting Standard Board (“FASB”) Section 605-45-05 of Subtopic 605-45 for Revenue Recognition. One type of agreement is a netback arrangement, under which we sell natural gas and oil at the wellhead and collect a price, net of transportation incurred by the purchaser. In this case, we record revenue at the price we received from the purchaser. In the case of NGLs, we receive a net price from the purchaser (which is net of processing costs) which is also recorded in revenue at the net price we receive from the purchaser. Under the other arrangement, we sell natural gas or oil at a specific delivery point, pay transportation expenses to a third party and receive proceeds from the purchaser with no transportation deduction. In that case, we record revenue at the price received from the purchaser and record the expenses we incur as transportation, gathering and compression expense. We realize brokered margins as a result of buying and selling natural gas utilizing separate purchase and sale transactions, typically with separate counterparties. The amount of brokered margin was immaterial in 2012.

Although receivables are concentrated in the oil and gas industry, we do not view this as an unusual credit risk. We provide for an allowance for doubtful accounts for specific receivables judged unlikely to be collected based on the age of the receivable, our experience with the debtor, potential offsets to the amount owed and economic conditions. In certain instances, we require purchasers to post stand-by letters of credit. Many of our receivables are from joint interest owners of properties we operate. Thus, we may have the ability to withhold future revenue disbursements to recover any non-payment of joint interest billings. We have allowances for doubtful accounts relating to exploration and production receivables of $2.4 million at December 31, 2012 compared to $4.0 million at December 31, 2011. During the year ended 2012, we recorded bad debt expense of $750,000 compared to $946,000 in 2011.

We use the sales method to account for gas imbalances, recognizing revenue based on gas delivered rather than our working interest share of the gas produced. A liability is recognized when the imbalance exceeds the estimate of remaining reserves. At December 31, 2012, we had recorded a net liability of $267,000 for those wells where it was determined that there were insufficient reserves to recover the imbalance situation.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and on deposit and investments in highly liquid debt instruments with maturities of three months or less.

Marketable Securities

Investments in unaffiliated equity securities held in our deferred compensation plans qualify as trading securities and are recorded at fair value. Investments held in the deferred compensation plans consist of various publicly-traded mutual funds. These funds are made up of investments, which include equity securities and money market instruments.

Inventory

Inventories were comprised of $16.3 million of materials and supplies at December 31, 2012 compared to $10.9 million at December 31, 2011. Inventories consist primarily of tubular goods used in our operations and are stated at the lower of specific cost of each inventory item or market, on a first-in, first-out basis. Our material and supplies inventory is primarily acquired for use in future drilling operations or repair operations. In 2011, we sold tubular goods and other inventory for proceeds of $8.0 million and recorded a gain of $359,000. At December 31, 2012, we also have $2.6 million of commodity inventory which is carried at lower of average cost or market, on a first in, first out basis.

Natural Gas and Oil Properties

Property Acquisition Costs

We follow the successful efforts method of accounting for natural gas and oil producing activities. Costs to drill exploratory wells that do not find proved reserves, geological and geophysical costs, delay rentals and costs of carrying and retaining unproved properties are expensed. Costs incurred for exploratory wells that find reserves that cannot yet be classified as proved are capitalized if (a) the well has found a sufficient quantity of reserves to justify its completion as a producing well and (b) we are making sufficient progress assessing the reserves and the economic and operating viability of the project. The status of suspended well costs is monitored continuously and reviewed not less than quarterly. We capitalize successful exploratory wells and all developmental wells, whether successful or not. Due to the capital-intensive nature and the geographical location of certain projects, it may take an extended period of time to evaluate the future potential of an exploration project and the economics associated with making a determination on its commercial viability. In these instances, the project’s feasibility is not contingent upon price improvements or advances in technology, but rather our ongoing efforts and expenditures related to accurately predicting the hydrocarbon recoverability based on well information, gaining access to other companies’ production data in the area, transportation or processing facilities and/or getting partner approval to drill additional appraisal wells. These activities are ongoing and are being pursued constantly. Consequently, our assessment of suspended exploratory well costs is continuous until a decision can be made that the project has found proved reserves to sanction the project or is noncommercial and is charged to exploration expense. See Note 7 for additional information regarding our suspended exploratory well costs.

Depreciation, Depletion and Amortization

Depreciation, depletion and amortization of proved producing properties is provided on the units of production method. Historically, we have adjusted our depletion rates in the fourth quarter of each year based on the year-end reserve report and other times during the year when circumstances indicate there has been a significant change in reserves or costs. We adopted the new SEC accounting and disclosure regulations for oil and gas companies effective December 31, 2009.

Impairments

Our natural gas and oil producing properties are reviewed for impairment periodically as events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. These assets are reviewed for potential impairments at the lowest levels for which there are identifiable cash flows that are largely independent of other groups of assets. The review is done by determining if the historical cost of proved properties less the applicable accumulated depreciation, depletion and amortization is less than the estimated expected undiscounted future net cash flows. The expected future net cash flows are estimated based on our plans to produce and develop reserves. Expected future net cash inflow from the sale of produced reserves is calculated based on estimated future prices and estimated operating and development costs. We estimate prices based upon market related information including published futures prices. The estimated future level of production, which is based on proved and risk adjusted probable reserves, has assumptions surrounding the future levels of prices and costs, field decline rates, market demand and supply, and the economic and regulatory climate. In certain circumstances, we also consider potential sales of properties to third parties in our estimates of cash flows. When the carrying value exceeds the sum of future net cash flows, an impairment loss is recognized for the difference between the estimated fair market value (as determined by discounted future net cash flows using a discount rate similar to that used by market participants) and the carrying value of the asset. A significant amount of judgment is involved in performing these evaluations since the results are based on estimated future events. Such events include a projection of future natural gas and oil prices, an estimate of the ultimate amount of recoverable natural gas and oil reserves that will be produced from an asset group, the timing of future production, future production costs, future abandonment costs and future inflation. We cannot predict whether impairment charges may be required in the future. If natural gas, NGLs and oil prices decrease or drilling efforts are unsuccessful, we may be required to record additional impairments. For additional information regarding proved property impairments, see Note 12.

We evaluate our unproved property investment periodically for impairment. The majority of these costs generally relate to the acquisition of leasehold costs. The costs are capitalized and evaluated (at least quarterly) as to recoverability, based on changes brought about by economic factors and potential shifts in business strategy employed by management. Impairment of a significant portion of our unproved properties is assessed and amortized on an aggregate basis based on our average holding period, expected forfeiture rate and anticipated drilling success. Impairment of individually significant unproved property is assessed on a property-by-property basis considering a combination of time, geologic and engineering factors. Unproved properties had a net book value of $743.5 million in 2012 compared to $748.6 million in 2011. We have recorded abandonment and impairment expense related to unproved properties from continuing operations of $125.3 million in 2012 compared to $79.7 million in 2011 and to $49.7 million in 2010.

Dispositions

Proceeds from the disposal of natural gas and oil producing properties that are part of an amortization base are credited to the net book value of the amortization group with no immediate effect on income. However, gain or loss is recognized if the disposition is significant enough to materially impact the depletion rate of the remaining properties in the amortization base.

Transportation and Field Assets

Our gas transportation and gathering systems are generally located in proximity to certain of our principal fields. Depreciation on these pipeline systems is provided on the straight-line method based on estimated useful lives of ten to fifteen years. We receive third-party income for providing field service and certain transportation services, which is recognized as earned. Depreciation on the associated assets is calculated on the straight-line method based on estimated useful lives ranging from five to seven years. Transportation and field assets also includes other property and equipment such as buildings, furniture and fixtures, leasehold improvements, data processing and communication equipment. These items are generally depreciated by individual components on a straight line basis over their economic useful life, which is generally from three to fifteen years. Leasehold improvements are amortized over the lesser of their economic useful lives or the underlying terms of the associated leases. Depreciation expense was $13.2 million in 2012 compared to $16.2 million in 2011 and $16.1 million in 2010.

Other Assets

The expenses of issuing debt are capitalized and included in other assets in the accompanying consolidated balance sheets. These costs are amortized over the expected life of the related instruments. When debt is retired before maturity or modifications significantly change the cash flows, related unamortized costs are expensed. Other assets at December 31, 2012 include $43.1 million of unamortized debt issuance costs, $57.8 million of marketable securities held in our deferred compensation plans and $14.3 million of other investments including surface acreage. Other assets at December 31, 2011 include $39.4 million of unamortized debt issuance costs, $50.2 million of marketable securities held in our deferred compensation plans and $14.6 million of other investments including surface acreage.

Accounts Payable

Included in accounts payable at December 31, 2012 and 2011, are liabilities of approximately $44.6 million and $45.7 million representing the amount by which checks issued, but not presented to our banks for collection, exceeded balances in our applicable bank accounts.

Stock-based Compensation Arrangements

The fair value of stock options and stock-settled SARs is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. The model employs various assumptions, based on management’s best estimates at the time of the grant, which impact the fair value calculated and ultimately, the expense that is recognized over the life of the award. We have utilized historical data and analyzed current information to reasonably support these assumptions. The fair value of restricted stock awards (“Liability Awards”) and restricted stock unit awards (“Equity Awards”) is determined based on the fair market value of our common stock on the date of grant.

We recognize stock-based compensation expense on a straight-line basis over the requisite service period for the entire award. The expense we recognize is net of estimated forfeitures. We estimate our forfeiture rate based on prior experience and adjust it as circumstances warrant. Substantially all Liability Awards are deposited in our deferred compensation plans at the time of grant and are classified as a liability due to the fact that these awards are expected to be settled wholly or partially in cash. The fair value of the Liability Awards is updated at each balance sheet date with changes in the fair value of the vested portion of the awards recorded as increases or decreases to deferred compensation plan expense in the accompanying statement of operations.

Derivative Financial Instruments and Hedging

All of our derivative instruments are issued to manage the price risk attributable to our expected natural gas, NGLs and oil production. While there is risk that the financial benefit of rising natural gas, NGLs and oil prices may not be captured, we believe the benefits of stable and predictable cash flow are more important. Among these benefits are more efficient utilization of existing personnel and planning for future staff additions, the flexibility to enter into long-term projects requiring substantial committed capital, smoother and more efficient execution of our ongoing development drilling and production enhancement programs, more consistent returns on invested capital and better access to bank and other capital markets. Every unsettled derivative instrument is recorded in the accompanying consolidated balance sheets as either an asset or a liability measured at its fair value. In most cases, our derivatives are reflected on our consolidated balance sheet on a net basis by brokerage firm,

when they are governed by master netting agreements. Changes in a derivative’s fair value are recognized in earnings unless specific hedge accounting criteria are met. Cash flows from derivative contract settlements are reflected in operating activities in the accompanying consolidated statements of cash flows.

Through December 2012, we have elected to designate our commodity derivative instruments that qualify for hedge accounting as cash flow hedges. To designate a derivative as a cash flow hedge, we document at the hedge’s inception our assessment that the derivative will be highly effective in offsetting expected changes in cash flows from the item hedged. This assessment, which is updated at least quarterly, is generally based on the most recent relevant historical correlation between the derivative and the item hedged. The ineffective portion of the hedge is calculated as the difference between the change in fair value of the derivative and the estimated change in cash flows from the item hedged. If, during the derivative’s term, we determine the hedge is no longer highly effective, hedge accounting is prospectively discontinued and any remaining unrealized gains or losses, based on the effective portion of the derivative at that date, are reclassified to earnings as natural gas, NGLs and oil sales when the underlying transaction occurs. If it is determined that the designated hedged transaction is probable to not occur, any unrealized gains or losses is recognized immediately in derivative fair value income in the accompanying consolidated statements of operations. During 2010, we recognized pre-tax gains of $11.6 million as a result of the discontinuance of hedge accounting treatment for certain of our derivatives. In 2012 and 2011, we did not transfer any gains or losses into derivative fair value as a result of discontinuing hedge accounting.

We apply hedge accounting to qualifying derivatives (or “hedge derivatives”) used to manage price risk associated with our natural gas, NGLs and oil production. Accordingly, we record changes in the fair value of our hedge derivative contracts, including changes associated with time value, in accumulated other comprehensive income (“AOCI”) in the stockholders’ equity section of the accompanying consolidated balance sheets. Gains or losses on these hedge derivative contracts are reclassified out of AOCI and into natural gas, NGLs and oil sales when the underlying physical transaction occurs and the hedging contract is settled. Any hedge ineffectiveness associated with a contract qualifying and designated as a cash flow hedge (which represents the amount by which the change in the fair value of the derivative differs from the change in the cash flows of the forecasted sale of production) is reported currently each period in derivative fair value income on the accompanying consolidated statement of operations. Ineffectiveness can be associated with open positions (unrealized) or can be associated with closed contracts (realized).

Realized and unrealized gains and losses on derivatives that are not designated as hedges (or “non-hedge derivatives”) are accounted for using the mark-to-market accounting method. We recognize all unrealized and realized gains and losses related to these contracts in each period in derivative fair value income in the accompanying consolidated statements of operations. At times, we have also entered into basis swap agreements, which do not qualify for hedge accounting and are marked to market. The price we receive for our gas production can be more or less than the NYMEX price because of adjustments for delivery location (“basis”), relative quality and other factors; therefore, we have entered into basis swap agreements that effectively fix our basis adjustments.

Concentrations of Credit Risk

As of December 31, 2012, our primary concentrations of credit risk are the risks of collecting accounts receivable and the risk of counterparties’ failure to perform under derivative obligations. Most of our receivables are from a diverse group of companies, including major energy companies, pipeline companies, local distribution companies, financial institutions and end-users in various industries. Letters of credit or other appropriate security are obtained as necessary to limit risk of loss. Our allowance for uncollectible receivables was $2.4 million at December 31, 2012 compared to $4.0 million at December 31, 2011. As of December 31, 2012, our derivative contracts consist of swaps and collars. Our exposure is diversified primarily among major investment grade financial institutions, the majority of which we have master netting agreements which provides for offsetting payables against receivables from separate derivative contracts. To manage counterparty risk associated with our derivatives, we select and monitor our counterparties based on our assessment of their financial strength and or credit ratings. We may also limit the level of exposure with any single counterparty. At December 31, 2012 our derivative counterparties include fifteen financial institutions, of which all but two are secured lenders in our bank credit facility. At December 31, 2012, our net derivative asset includes a receivable from two counterparties not included in our bank credit facility of $7.1 million. For those counterparties that are not secured lenders in our bank credit facility or for which we do not have master netting arrangements, net derivative asset values are determined, in part, by reviewing credit default swap spreads for the counterparties. Net derivative liabilities are determined, in part, by using our market based credit spread. None of our derivative contracts have margin requirements or collateral provisions that would require funding prior to the scheduled cash settlement date. We have also entered into the International SWAP Dealers Association Master Agreements (“ISDA Agreements”) with our counterparties. The terms of the ISDA Agreements provide us and our counterparties with rights of set off upon the occurrence of defined acts of default by either us or a counterparty to a derivative, whereby the party not in default may set off all derivative liabilities owed to the defaulting party against all derivative asset receivables from the defaulting party.

Asset Retirement Obligations

The fair value of asset retirement obligations is recognized in the period they are incurred, if a reasonable estimate of fair value can be made. Asset retirement obligations primarily relate to the abandonment of natural gas and oil producing facilities and include costs to dismantle and relocate or dispose of production platforms, gathering systems, wells and related structures. Estimates are based on historical experience of plugging and abandoning wells, estimated remaining lives of those wells based on reserve estimates, external estimates as to the cost to plug and abandon the wells in the future and federal and state regulatory requirements. Depreciation of capitalized asset retirement costs and accretion of asset retirement obligations are recorded over time. The depreciation will generally be determined on a units-of-production basis while accretion to be recognized will escalate over the life of the producing assets.

Environmental Costs

Environmental expenditures are capitalized if the costs mitigate or prevent future contamination or if the costs improve environmental safety or efficiency of the existing assets. Expenditures that relate to an existing condition caused by past operations that have no future economic benefits are expensed.

Deferred Taxes

Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of assets and liabilities and their tax bases as reported in our filings with the respective taxing authorities. Deferred tax assets are recorded when it is more likely than not that they will be realized. The realization of deferred tax assets is assessed periodically based on several interrelated factors. These factors include our expectation to generate sufficient taxable income in the periods before tax credits and operating loss carryforwards expire. We do not recognize a deferred tax asset for excess tax benefits on equity compensation that have not been realized due to our net operating loss tax position for federal or state tax purposes.

Accumulated Other Comprehensive Income

The following details the components of AOCI and related tax effects for the three years ended December 31, 2012. Amounts included in AOCI exclusively relate to our derivative activity (in thousands).


	Gross			Tax Effect			Net of Tax
Accumulated other comprehensive income at December 31, 2009	$	10,192		$	(3,771	)	$	6,421
Contract settlements reclassified to income		(64,772	)		24,841			(39,931	)
Change in unrealized deferred hedging gains		165,642			(64,662	)		100,980

Accumulated other comprehensive income at December 31, 2010		111,062			(43,592	)		67,470
Contract settlements reclassified to income		(132,201	)		50,005			(82,196	)
Change in unrealized deferred hedging gains		275,817			(104,464	)		171,353

Accumulated other comprehensive income at December 31, 2011		254,678			(98,051	)		156,627
Contract settlements reclassified to income		(236,305	)		91,871			(144,434	)
Change in unrealized deferred hedging gains		119,182			(47,466	)		71,716

Accumulated other comprehensive income at December 31, 2012	$	137,555		$	(53,646	)	$	83,909

Accounting Pronouncements Implemented

Recently Adopted

In May 2011, the FASB issued ASU No. 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS.” This pronouncement was issued to provide a consistent definition of fair value and ensure that the fair value measurement and disclosure requirements are similar between U.S. GAAP and International Financial Reporting Standards. ASU No. 2011-04 changes certain fair value measurement principles and enhances the disclosure requirements, particularly for Level 3 fair value measurements. This pronouncement is effective for reporting periods beginning on or after December 15, 2011, with early adoption prohibited. The new guidance requires prospective application. We adopted this new requirement in first quarter 2012 and it did not have a material effect on our consolidated financial statements.

Accounting Pronouncements Not Yet Adopted

In December 2011, the FASB issued ASU No. 2011-11, “Disclosures about Offsetting Assets and Liabilities” requiring additional disclosures about offsetting and related arrangements. ASU 2011-11 is effective retrospectively for annual reporting periods beginning on or after January 1, 2013. The adoption of ASU 2011-11 is not expected to impact our future financial position, results of operation or liquidity.

DISPOSITIONS AND ACQUISITIONS

12 Months Ended

Dec. 31, 2012

DISPOSITIONS AND ACQUISITIONS

(3) DISPOSITIONS AND ACQUISITIONS

2012 Dispositions

In October 2012, we entered into an agreement to sell our Ardmore Woodford properties in Southern Oklahoma. We closed this sale in November 2012. The gross cash proceeds were $135.0 million. The agreements had a July 1, 2012 effective date and consequently, operating net revenues after July 2012 were a downward adjustment to the sales price. We recorded a pre-tax gain of $55.2 million related to this sale. In fourth quarter 2011, we exchanged unproved property in Ohio for unproved property in Pennsylvania where we received $11.5 million in cash and recorded a $4.5 million gain in 2011. In 2012, we recorded an additional gain of $6.8 million related to this same transaction.

In September 2012, we sold unproved properties in three counties in Pennsylvania for proceeds of $13.9 million resulting in a pre-tax gain of $746,000. As part of this agreement, we retained an overriding royalty of 1% to 5% on a large portion of the leases. In June 2012, we sold a suspended exploratory well in the Marcellus Shale for proceeds of $2.5 million resulting in a pre-tax loss of $2.5 million. In March 2012, we sold seventy-five percent of a prospect in East Texas which included unproved properties and a suspended exploratory well to a third party for proceeds of $8.6 million resulting in a pre-tax loss of $10.9 million. As part of this agreement, we retained a carried interest on the first well drilled and an overriding royalty of 2.5% to 5.0% in the prospect.

In December 2012, we announced our plan to offer for sale certain of our Permian Basin and Delaware properties in southeast New Mexico and West Texas. The data room opened in early January 2013, and on February 26, 2013, we announced we signed a definitive agreement to sell these assets for a price of $275.0 million, subject to normal post-closing adjustments. However, the completion of the sale is dependent upon customary prospective buyer due diligence procedures and there can be no assurance the sale will be completed or that there will not be changes to the sales price.

2011 Dispositions

In February 2011, we entered into an agreement to sell substantially all of our Barnett Shale properties located in North Central Texas (Dallas, Denton, Ellis, Hill, Hood, Johnson, Parker, Tarrant and Wise Counties), which also included the assumption of certain derivative contracts by the buyer and was subject to normal post-closing adjustments. We closed substantially all of this sale in April 2011 and closed the remainder in August 2011. The gross cash proceeds were approximately $889.3 million, including certain derivative contracts assumed by the buyer. The agreements had a February 1, 2011 effective date and consequently operating net revenues after February 2011 were a downward adjustment to the sales price. In 2011, we recorded a pretax gain of $4.8 million in discontinued operations related to this sale. In the accompanying December 31, 2010 balance sheet, we have classified these assets and liabilities as discontinued operations. As indicated in Notes 2 and 4, the historic results of our Barnett Shale operations are presented as discontinued operations.

As part of the sale of our Barnett Shale properties, certain derivative contracts were assumed by the buyer. We received proceeds of $40.0 million for these derivative contracts and recorded a loss of $1.7 million in second quarter 2011, which is included in continuing operations. As required by cash flow hedge accounting rules, a $25.1 million pretax gain in AOCI related to these hedges was recognized in earnings during 2011 as the hedged production occurred. The hedges assumed by the buyer as part of the sale were not designated to our Barnett Shale production and were sold to balance our volumes hedged.

In fourth quarter 2011, we exchanged unproved property in Ohio for unproved property in Pennsylvania where we also received $11.5 million in cash as part of the transaction. We recorded a $4.5 million gain related to this transaction. In third quarter 2011, we sold various producing properties located in East Texas for proceeds of $10.5 million. We recognized an impairment charge of $31.2 million in third quarter 2011 related to these East Texas properties. For additional information on this impairment, see Note 12. Also in third quarter 2011, we sold producing properties in Pennsylvania for proceeds of $5.4 million, with no gain or loss recognized, as the sale did not materially impact the depletion rate of the remaining properties in the amortization base. In first quarter 2011, we sold a low pressure pipeline for $14.7 million in proceeds, with no gain or loss recognized.

2010 Dispositions

In February 2010, we entered into an agreement to sell our tight gas sand properties in Ohio. We closed approximately 90% of the sale in March 2010 and closed the remainder in June 2010. The total proceeds we received were approximately $323.0 million and we recorded a gain of $77.6 million. The agreement had an effective date of January 1, 2010, and consequently operating net revenue after January 1, 2010 was a downward adjustment to the selling price. The proceeds we received were placed in a like-kind exchange account and in June 2010, we used a portion of the proceeds to purchase proved and unproved natural gas properties in Virginia. In September 2010, the like-kind exchange account was closed and the remaining balance of $135.0 million was used to repay amounts outstanding under our credit facility.

Acquisitions

Acquisitions are accounted for as purchases and, accordingly, the results of operations are included in the accompanying statements of operations from the closing date of the acquisition. Purchase prices are allocated to acquired assets and assumed liabilities based on their estimated fair value at the time of the acquisition. In the past, acquisitions have been funded with internal cash flow, bank borrowings and the issuance of debt and equity securities.

In June 2010, we purchased proved and unproved natural gas properties in Virginia for approximately $134.5 million. After recording asset retirement obligations, the purchase price allocated $131.3 million to proved property and $3.7 million to unproved property. We used proceeds from our like-kind exchange account to fund this acquisition (see 2010 Dispositions above). No pro forma information has been provided, as the acquisition was not considered significant.

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2012

DISCONTINUED OPERATIONS

(4) DISCONTINUED OPERATIONS

The following table represents the components of our Barnett Shale operations as discontinued operations for the years ended December 31, 2011 and 2010 (in thousands).


	Year Ended December 31,
	2011		2010
Revenues and other income:
Natural gas, NGLs and oil sales	$	59,185	$	157,778
Gain on the sale of assets		4,771		955
Other		10		67

Total revenues and other income		63,966		158,800

Costs and expenses:
Direct operating		10,080		35,328
Transportation, gathering and compression		5,257		8,624
Production and ad valorem taxes		1,309		7,545
Exploration		37		581
Abandonment and impairment of unproved properties		—		20,233
Interest expense ^(a)		14,791		40,527
Depletion, depreciation and amortization		8,894		88,269
Impairment of proved properties		—		463,244

Total costs and expenses		40,368		664,351

Income (loss) before income taxes		23,598		(505,551	)

Income tax expense (benefit)
Current		—		—
Deferred		8,278		(177,597	)

		8,278		(177,597	)

Net income (loss) from discontinued operations	$	15,320	$	(327,954	)

^(a)	Interest expense is allocated to discontinued operations based on the ratio of net assets of discontinued operations to our consolidated net assets plus long-term debt.

The carrying values of our Barnett operations were included in discontinued operations in the accompanying consolidated balance sheets, which is comprised of the following (in thousands):


	December 31, 2011
Composition of liabilities of discontinued operations:
Accrued liabilities	$	653

Total current liabilities of discontinued operations	$	653

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43-48
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2012

INCOME TAXES

(5) INCOME TAXES

Our income tax expense from continuing operations was $12.1 million for the year ended December 31, 2012 compared to $35.6 million in 2011 and $50.9 million in 2010. Reconciliation between the statutory federal income tax rate and our effective income tax rate is as follows:


	Year Ended December 31,
	2012			2011			2010
Federal statutory tax rate		35.0	%		35.0	%		35.0	%
State		0.7			7.0			(0.2	)
Non-deductible executive compensation		1.4			3.5			0.2
Valuation allowance		8.8			(0.4	)		1.4
Other		2.2			0.3			0.1

Consolidated effective tax rate		48.1	%		45.4	%		36.5	%

Income tax provision (benefit) attributable to income from continuing operations before income taxes consists of the following (in thousands):


	2012							2011						2010
	Current			Deferred		Total		Current		Deferred		Total		Current			Deferred		Total
U.S. federal	$	—		$	11,873	$	11,873	$	—	$	30,055	$	30,055	$	—		$	51,280	$	51,280
U.S. state and local		(1,778	)		1,959		181		637		4,865		5,502		(836	)		466		(370	)

Total	$	(1,778	)	$	13,832	$	12,054	$	637	$	34,920	$	35,557	$	(836	)	$	51,746	$	50,910

Significant components of deferred tax assets and liabilities are as follows:


	December 31,
	2012			2011
	(in thousands)
Deferred tax assets:
Current
Deferred compensation	$	6,192		$	8,607
Current portion of asset retirement obligation		961			2,011
Other		8,896			1,423

Total current		16,049			12,041

Non-current
Net operating loss carryforward		56,402			63,568
Deferred compensation		72,904			64,176
Equity compensation		23,363			20,576
AMT credits and other credits		2,761			3,505
Non-current portion of asset retirement obligation		56,764			30,358
Cumulative unrealized mark-to-market (gain) loss		(262	)		2,373
Other		1,379			1,500
Valuation allowance		(9,052	)		(4,534	)

Total non-current		204,259			181,522

Deferred tax liabilities:
Current
Net unrealized gain in AOCI related to hedge derivatives		(49,124	)		(68,636	)
Other		(2,004	)		—
Cumulative unrealized mark-to-market gain		(2,845	)		—

Total current		(53,973	)		(68,636	)

Non-current
Depreciation, depletion and investments		(894,031	)		(862,597	)
Net unrealized gain in AOCI related to hedge derivatives		(4,522	)		(29,415	)
Other		(4,008	)		—

Total non-current		(902,561	)		(892,012	)

Net deferred tax liability	$	(736,226	)	$	(767,085	)

At December 31, 2012, deferred tax liabilities exceeded deferred tax assets by $736.2 million, with $53.6 million of deferred tax liability related to net deferred hedging gains included in AOCI. As of December 31, 2012, we have a $7.1 million valuation allowance on the deferred tax asset related to our deferred compensation plan for planned future distributions to certain executives to the extent that their estimated future compensation plus distribution amounts would exceed the $1.0 million deductible limit provided under I.R.C. Section 162(m). As of December 31, 2011, we had a $4.5 million valuation allowance on the deferred tax asset related to our deferred compensation plan.

At December 31, 2012, we had regular net operating loss (“NOL”) carryforwards of $318.1 million and alternative minimum tax (“AMT”) NOL carryforwards of $292.9 million that expire between 2018 and 2032. Our deferred tax asset related to regular NOL carryforwards at December 31, 2012 was $29.3 million, which is net of the Accounting Standards Codification 718 Stock Compensation reduction for unrealized benefits, related to NOL’s created by excess tax deductions that have not generated current tax benefits. Regular NOLs generally offset taxable income and to such extent, no income tax payments are required. At December 31, 2012, we have AMT credit carryforwards of $665,000 that are not subject to limitation or expiration.

We file consolidated tax returns in the United States federal jurisdiction. We file separate company state income tax returns in Louisiana, Mississippi, Pennsylvania and Virginia and file consolidated or unitary state income tax returns in New Mexico, Oklahoma, Texas and West Virginia. We are subject to U.S. Federal income tax examinations for the years 2009 and after and we are subject to various state tax examinations for years 2008 and after. We have not extended the statute of limitation period in any income tax jurisdiction. Our policy is to recognize interest related to income tax expense in interest expense and penalties in general and administrative expense. We do not have any accrued interest or penalties related to tax amounts as of December 31, 2012. Throughout 2012, our unrecognized tax benefits were not material.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

+ Details

INCOME (LOSS) PER COMMON SHARE

12 Months Ended

Dec. 31, 2012

INCOME (LOSS) PER COMMON SHARE

(6) INCOME (LOSS) PER COMMON SHARE

Basic income or loss per share attributable to common shareholders is computed as (i) income or loss attributable to common shareholders (ii) less income allocable to participating securities (iii) divided by weighted average basic shares outstanding. Diluted income or loss per share attributable to common stockholders is computed as (i) basic income or loss attributable to common shareholders (ii) plus diluted adjustments to income allocable to participating securities (iii) divided by weighted average diluted shares outstanding. The following table sets forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders and to diluted income or loss attributable to common shareholders (in thousands except per share amounts):


	Year Ended December 31, 2012								Year Ended December 31, 2011									Year Ended December 31, 2010
	Continuing Operations			Discontinued Operations		Total			Continuing Operations			Discontinued Operations			Total			Continuing Operations			Discontinued Operations			Total
Income (loss) as reported	$	13,002		$	—	$	13,002		$	42,706		$	15,320		$	58,026		$	88,698		$	(327,954	)	$	(239,256	)
Participating basic earnings ^(a)		(460	)		—		(460	)		(763	)		(274	)		(1,037	)		(1,574	)		1,120			(454	)

Basic income (loss) attributed to common shareholders		12,542			—		12,542			41,943			15,046			56,989			87,124			(326,834	)		(239,710	)
Reallocation of participating earnings ^(a)		—			—		—			3			2			5			11			(11	)		—

Diluted income (loss) attributed to common shareholders	$	12,542		$	—	$	12,542		$	41,946		$	15,048		$	56,994		$	87,135		$	(326,845	)	$	(239,710	)

Income (loss) per common share:
Basic	$	0.08		$	—	$	0.08		$	0.26		$	0.10		$	0.36		$	0.56		$	(2.09	)	$	(1.53	)
Diluted	$	0.08		$	—	$	0.08		$	0.26		$	0.10		$	0.36		$	0.55		$	(2.07	)	$	(1.52	)

^(a)

Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

The following table provides a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):


	Year Ended December 31,
	2012		2011		2010
Denominator:
Weighted average common shares outstanding – basic		159,431		158,030		156,874
Effect of dilutive securities:
Director and employee stock options and SARs		876		1,411		1,554

Weighted average common shares outstanding – diluted		160,307		159,441		158,428

Weighted average common shares – basic excludes 2.9 million shares at December 31, 2012, 2.9 million shares at December 31, 2011 and 2.8 million shares at December 31, 2010 of restricted stock Liability Awards held in our deferred compensation plans (although all awards are issued and outstanding upon grant). Stock appreciation rights (“SARs”) of 854,000, 795,000 and 2.1 million shares for the years ended December 31, 2012, 2011 and 2010 were outstanding but not included in the computations of diluted net income per share because the grant prices of the SARs were greater than the average market price of the common shares and would be anti-dilutive to the computations.

SUSPENDED EXPLORATORY WELL COSTS

12 Months Ended

Dec. 31, 2012

SUSPENDED EXPLORATORY WELL COSTS

(7) SUSPENDED EXPLORATORY WELL COSTS

We capitalize exploratory well costs until a determination is made that the well has either found proved reserves or that it is impaired. Capitalized exploratory well costs are presented in natural gas and oil properties in the accompanying consolidated balance sheets. If an exploratory well is determined to be impaired, the well costs are charged to exploration expense in the accompanying consolidated statements of operations. The following table reflects the changes in capitalized exploratory well costs for the year ended December 31, 2012, 2011 and 2010 (in thousands except for number of projects):


	2012			2011			2010
Balance at beginning of period	$	93,388		$	23,908		$	19,052
Additions to capitalized exploratory well costs pending the determination of proved reserves		153,250			86,996			28,897
Reclassifications to wells, facilities and equipment based on determination of proved reserves		(184,298	)		(17,516	)		(24,041	)
Divested wells		(4,980	)		—			—
Capitalized exploratory well costs charged to expense		—			—			—

Balance at end of period		57,360			93,388			23,908
Less exploratory well costs that have been capitalized for a period of one year or less		(45,965	)		(83,860	)		(13,181	)

Capitalized exploratory well costs that have been capitalized for a period greater than one year	$	11,395		$	9,528		$	10,727

Number of projects that have exploratory well costs that have been capitalized for a period greater than one year		5			3			4

As of December 31, 2012, the $11.4 million of capitalized exploratory well costs that have been capitalized for more than one year is comprised of two wells waiting on pipelines and three wells not operated by us. Four of the five wells are in our Marcellus Shale area. The following table provides an aging of capitalized exploratory well costs that have been suspended for more than one year as of December 31, 2012 (in thousands):


	Total		2012		2011		2010		2009		2008
Capitalized exploratory well costs that have been capitalized for more than one year	$	11,395	$	970	$	5,946	$	72	$	2,884	$	1,523

INDEBTEDNESS

12 Months Ended

Dec. 31, 2012

INDEBTEDNESS

(8) INDEBTEDNESS

We had the following debt outstanding as of the dates shown below (bank debt interest rate at December 31, 2012 is shown parenthetically) (in thousands). No interest was capitalized during 2012, 2011, and 2010:


	December 31,
	2012		2011
Bank debt (2.2%)	$	739,000	$	187,000

Senior subordinated notes:
7.5% senior subordinated notes due 2017		—		250,000
7.25% senior subordinated notes due 2018		250,000		250,000
8.00% senior subordinated notes due 2019, net of $10,815 and $12,033 discount, respectively		289,185		287,967
6.75% senior subordinated notes due 2020		500,000		500,000
5.75% senior subordinated notes due 2021		500,000		500,000
5.00% senior subordinated notes due 2022		600,000		—

Total debt	$	2,878,185	$	1,974,967

Bank Debt

In February 2011, we entered into an amended and restated revolving bank facility, which we refer to as our bank debt or our bank credit facility, which is secured by substantially all of our assets. The bank credit facility provides for an initial commitment equal to the lesser of the facility amount or the borrowing base. On December 31, 2012, the facility amount was $1.75 billion and the borrowing base was $2.0 billion. The bank credit facility provides for a borrowing base subject to redeterminations semi-annually and for event-driven unscheduled redeterminations. Our current bank group is comprised of twenty-eight financial institutions, with no one bank holding more than 9% of the total facility. The facility amount may be increased to the borrowing base amount with twenty-day notice, subject to payment of a mutually acceptable commitment fee to those banks agreeing to participate in the facility increase. As of December 31, 2012, the outstanding balance under the bank credit facility was $739.0 million as well as $84.7 million of undrawn letters of credit leaving $926.3 million of borrowing capacity available under the facility amount. The facility matures on February 18, 2016. Borrowings under the bank facility can either be at the Alternate Base Rate (as defined) plus a spread ranging from 0.50% to 1.5% or LIBOR borrowings at the Adjusted LIBO Rate (as defined) plus a spread ranging from 1.5% to 2.5%. The applicable spread is dependent upon borrowings relative to the borrowing base. We may elect, from time to time, to convert all or any part of our LIBOR loans to base rate loans or to convert all or any of the base rate loans to LIBOR loans. The weighted average interest rate was 2.2% for each of the years ended December 31, 2012, 2011 and 2010. A commitment fee is paid on the undrawn balance based on an annual rate of 0.375% to 0.50%. At December 31, 2012, the commitment fee was 0.375% and the interest rate margin was 1.75% on our LIBOR loans and 0.75% on our base rate loans.

Senior Subordinated Notes

In March 2012, we issued $600.0 million aggregate principal amount of 5.00% senior subordinated notes due 2022 (“5.00% Notes”) for net proceeds of $589.5 million after underwriting discounts and commissions of $10.5 million. The 5.00% Notes were issued at par. Interest on the 5.00% Notes is payable semi-annually in February and August and is guaranteed by all of our subsidiary guarantors. We may redeem the 5.00% Notes, in whole or in part, at any time on or after February 15, 2017, at a redemption price of 102.5% of the principal amount as of February 15, 2017, declining to 100% on February 15, 2020 and thereafter. Before February 2015, we may redeem up to 35% of the original aggregate principal amount of the 5.00% Notes at a redemption price equal to 105% of the principal amount thereof, plus accrued and unpaid interest, if any, with the proceeds of certain equity offerings, provided that 65% of the aggregate principal amount of the 5.00% Notes remain outstanding immediately after the occurrence of such redemption and also provided such redemption shall occur within 60 days of the date of closing of the equity offering. The proceeds of the issuance were used to pay down our outstanding credit facility balance and for general corporate purposes.

If we experience a change of control, bondholders may require us to repurchase all or a portion of all of our senior subordinated notes at 101% of the principal amount plus accrued and unpaid interest, if any. All of the senior subordinated notes and the guarantees by our subsidiary guarantors are general, unsecured obligations and are subordinated to our bank debt and will be subordinated to future senior debt that we or our subsidiary guarantors are permitted to incur under the bank credit facility and the indentures governing the subordinated notes.

Early Extinguishment of Debt

We called our 7.5% senior subordinated notes due 2017 at 103.75% of par which we redeemed on December 28, 2012. In fourth quarter 2012, we recognized an $11.1 million loss on extinguishment of debt, including transaction call premium cost as well as expensing of deferred financing cost on repurchased debt.

In May 2011, we commenced cash tender offers to purchase the entire outstanding $150.0 million principal amount of our 6.375% senior subordinated notes due 2015 and $250.0 million principal amount of our 7.5% senior subordinated notes due 2016. On May 25, 2011, after the expiration of the tender offers, we accepted for purchase $108.9 million in principal of the 2015 notes at 102.375% of par and $198.8 million in principal of the 2016 notes for 104.00% of par. We subsequently called the remaining 2015 and 2016 notes, redeeming all of the remaining outstanding 2015 notes ($41.1 million) at 102.125% of par on June 24, 2011 and redeeming all of the remaining 2016 notes ($51.2 million) at 103.75% of par on June 24, 2011. During 2011, we recognized an $18.6 million loss on extinguishment of debt, including transaction call premium cost as well as expensing of deferred financing cost on repurchased debt.

Guarantees

Range Resources Corporation is a holding company which owns no operating assets and has no significant operations independent of its subsidiaries. The guarantees by our subsidiaries of our senior subordinated notes are full and unconditional and joint and several, subject to certain customary release provisions. These circumstances include (i) when a subsidiary guarantor is sold or sells all or substantially all of its assets and (ii) when a subsidiary guarantor is declared “unrestricted” for covenant purposes.

Debt Covenants and Maturity

Our bank credit facility contains negative covenants that limit our ability, among other things, to pay cash dividends, incur additional indebtedness, sell assets, enter into certain hedging contracts, change the nature of our business or operations, merge, consolidate, or make investments. In addition, we are required to maintain a ratio of debt to EBITDAX (as defined in the credit agreement) of no greater than 4.25 to 1.0 and a current ratio (as defined in the credit agreement) of no less than 1.0 to 1.0. We were in compliance with our covenants under the bank credit facility at December 31, 2012.

The indentures governing our senior subordinated notes contain various restrictive covenants that are substantially identical to each other and may limit our ability to, among other things, pay cash dividends, incur additional indebtedness, sell assets, enter into transactions with affiliates, or change the nature of our business. At December 31, 2012, we were in compliance with these covenants.

Following is the principal maturity schedule for our long-term debt outstanding as of December 31, 2012 (in thousands):


	Year Ended December 31,
2013	$	—
2014		—
2015		—
2016		739,000
2017		—
2018		250,000
Thereafter		1,889,185

	$	2,878,185

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

ASSET RETIREMENT OBLIGATIONS

12 Months Ended

Dec. 31, 2012

ASSET RETIREMENT OBLIGATIONS

(9) ASSET RETIREMENT OBLIGATIONS

Our asset retirement obligations primarily represent the estimated present value of the amounts we will incur to plug, abandon and remediate our producing properties at the end of their productive lives. Significant inputs used in determining such obligations include estimates of plugging and abandonment costs, estimated future inflation rates and well life. The inputs are calculated based on historical data as well as current estimated costs. A reconciliation of our liability for plugging and abandonment costs for the years ended December 31, 2012 and 2011 is as follows (in thousands):


	2012			2011
Beginning of period	$	84,810		$	60,693
Liabilities incurred		9,802			3,265
Liabilities settled		(3,649	)		(4,717	)
Disposition of wells		(1,457	)		(716	)
Accretion expense		8,793			5,488
Change in estimate		48,179			20,797

End of period		146,478			84,810

Less current portion		(2,470	)		(5,005	)

Long-term asset retirement obligations – continuing operations	$	144,008		$	79,805

Accretion expense is recognized as an increase to depreciation, depletion and amortization expense in the accompanying statements of operations.

CAPITAL STOCK

12 Months Ended

Dec. 31, 2012

CAPITAL STOCK

(10) CAPITAL STOCK

We have authorized capital stock of 485.0 million shares, which includes 475.0 million shares of common stock and 10.0 million shares of preferred stock. The following is a schedule of changes in the number of common shares outstanding since the beginning of 2010:


	Year Ended December 31,
	2012		2011		2010
Beginning balance		161,131,547		159,909,052		158,118,937
Stock options/SARs exercised		926,425		862,774		991,988
Restricted stock grants		354,674		326,591		405,127
Restricted stock units vested		57,824		—		—
Issued for acreage purchases		—		—		380,229
Treasury shares		43,628		33,130		12,771

Ending balance		162,514,098		161,131,547		159,909,052

Common Stock Dividends

The Board of Directors declared quarterly dividends of $0.04 per common share for each of the four quarters of 2012, 2011 and 2010. The determination of the amount of future dividends, if any, to be declared and paid is at the sole discretion of the Board of Directors and will depend on our financial condition, earnings and cash flow from operations, level of capital expenditures, our future business prospects and other matters our Board of Directors deem relevant. Our bank credit facility and our senior subordinated notes allow for the payment of common dividends, with certain limitations. Dividends are limited to our legally available funds.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

DERIVATIVE ACTIVITIES

12 Months Ended

Dec. 31, 2012

DERIVATIVE ACTIVITIES

(11) DERIVATIVE ACTIVITIES

We use commodity-based derivative contracts to manage exposure to commodity price fluctuations. We do not enter into these arrangements for speculative or trading purposes. We do not utilize complex derivatives as we typically utilize commodity swap or collar contracts to (1) reduce the effect of price volatility of the commodities we produce and sell and (2) support our annual capital budget and expenditure plans. In 2011, we sold NGLs derivative swap contracts (“sold swaps”) for the natural gasoline (or C5) component of natural gas liquids and in 2012, we entered into purchased NGLs derivative swaps (“re-purchased swaps”) for C5 volumes. These re-purchased swaps were, in some cases, with the same counterparties as our sold swaps. We entered into these re-purchased swaps to lock in certain natural gasoline derivative gains. In second quarter 2012, we also entered into NGLs derivative swap contracts for the propane (or C3) component of NGLs. These C5 and C3 derivatives are intended to manage our exposure to NGLs commodity price fluctuations. At December 31, 2012, we had open swap contracts covering 77.9 Bcf of natural gas at prices averaging $3.64 per mcf, 3.3 million barrels of oil at prices averaging $95.70 per barrel, 2.4 million net barrels of NGLs (the C5 component of NGLs) at prices averaging $92.72 per barrel and 1.8 million barrels of NGLs (the C3 component of NGLs) at prices averaging $35.55 per barrel. At December 31, 2012, we had collars covering 242.7 Bcf of gas at weighted average floor and cap prices of $4.13 to $4.72 per mcf and 1.8 million barrels of oil at weighted average floor and cap prices of $88.58 to $100.00 per barrel. Their fair value, represented by the estimated amount that would be realized upon termination, based on a comparison of the contract price and a reference price, generally NYMEX, approximated a net unrealized pre-tax gain of $144.3 million at December 31, 2012. These contracts expire monthly through December 2014. The following table sets forth the derivative volumes by year as of December 31, 2012.


Period	Contract Type	Volume Hedged	Weighted Average Hedge Price
Natural Gas
2013	Collars	280,000 Mmbtu/day	$4.59–$ 5.05
2014	Collars	385,000 Mmbtu/day	$3.80–$ 4.48
2013	Swaps	213,384 Mmbtu/day	$3.64

Crude Oil
2013	Collars	3,000 bbls/day	$90.60–$ 100.00
2014	Collars	2,000 bbls/day	$85.55–$ 100.00
2013	Swaps	5,081 bbls/day	$96.59
2014	Swaps	4,000 bbls/day	$94.56

NGLs (Natural Gasoline)
2013	Sold Swaps	8,000 bbls/day	$89.64
2013	Re-purchased Swaps	1,500 bbls/day	$76.30

NGLs (Propane)
2013	Swaps	5,000 bbls/day	$35.55

Every derivative instrument is required to be recorded on the balance sheet as either an asset or a liability measured at its fair value. Fair value is determined based on the difference between the fixed contract price and the underlying market price at the determination date. Changes in the fair value of our derivatives that qualify for hedge accounting are recorded as a component of AOCI in the stockholders’ equity section of the accompanying consolidated balance sheets, which is later transferred to natural gas, NGLs and oil sales when the underlying physical transaction occurs and the hedging contract is settled. As of December 31, 2012, an unrealized pre-tax derivative gain of $137.6 million was recorded in AOCI. This gain will be reclassified into earnings as a gain of $127.3 million in 2013 and a gain of $10.3 million in 2014 as the contracts are sold but the actual reclassification to earnings will be based on market prices at the contract settlement date. If the derivative does not qualify as a hedge or is not designated as a hedge, changes in fair value of these non-hedge derivatives are recognized in earnings in derivative fair value income.

For those derivative instruments that qualify for hedge accounting, settled transaction gains and losses are determined monthly, and are included as increases or decreases to natural gas, NGLs and oil sales in the period the hedged production is sold. Natural gas, NGLs and oil sales include $236.3 million of gains in 2012 compared to gains of $123.6 million in 2011 and gains of $64.8 million in 2010 related to settled hedging transactions. Any ineffectiveness associated with these hedge derivatives are reflected in derivative fair value income in the accompanying statements of operations. The ineffective portion is calculated as the difference between the changes in fair value of the derivative and the estimated change in future cash flows from the item hedged. Derivative fair value income for the year ended December 31, 2012 includes ineffective gains (unrealized and realized) of $1.1 million compared to $9.5 million in 2011 and $2.0 million in 2010.

Basis Swap Contracts

At December 31, 2012, we had natural gas basis swap contracts that are not designated for hedge accounting which lock in the differential between NYMEX and those of our physical pricing points, which settle in first quarter 2013. The fair value of these contracts was $993,000 on December 31, 2012.

Derivative fair value income

The following table presents information about the components of derivative fair value income in the three-year period ended December 31, 2012 (in thousands):


	2012			2011			2010
Change in fair value of derivatives that do not qualify for hedge accounting ^(a)	$	5,958		$	15,762		$	(2,086	)
Realized gain (loss) on settlement–natural gas ^(a) ^(b)		131			14,743			35,988
Realized gain (loss) on settlement–oil ^(a) (b)		2,486			(9,574	)		—
Realized gain (loss) on settlement–NGLs ^(a) (b)		31,737			9,612			—
Realized gain on early settlement of oil derivatives		—			—			15,697
Hedge ineffectiveness–realized		4,346			7,361			(352	)
–unrealized		(3,221	)		2,183			2,387

Derivative fair value income	$	41,437		$	40,087		$	51,634

^(a)	Derivatives that do not qualify for hedge accounting.

^(b)	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 the change in fair value of derivatives that do not qualify for hedge accounting.

Derivative assets and liabilities

The combined fair value of derivatives included in the accompanying consolidated balance sheets as of December 31, 2012 and 2011 is summarized below (in thousands). As of December 31, 2012, we are conducting derivative activities with fifteen financial institutions, of which all but two are secured lenders in our bank credit facility. We believe all of these institutions are acceptable credit risks. At times, such risks may be concentrated with certain counterparties. The credit worthiness of our counterparties is subject to periodic review. The assets and liabilities are netted where derivatives with both gain and loss positions are held by a single counterparty and we have master netting arrangements.


	December 31,
	2012			2011
Derivative assets:
Natural gas–swaps	$	7,504		$	54,162
–collars		122,255			228,228
–basis swaps		993			—
Crude oil–swaps		9,650			(263	)
–collars		2,222			(16,607	)
–call options		—			(29,348	)
NGLs–C5 swaps		10,643			15,328

	$	153,267		$	251,500

Derivative liabilities:
Natural gas–collars	$	(3,463	)	$	—
NGLs–C5 swaps		2,275			(173	)
–C3 swaps		(6,746	)		—

	$	(7,934	)	$	(173	)

The table below provides data about the fair value of our derivative contracts. Derivative assets and liabilities shown below are presented as gross assets and liabilities, without regard to master netting arrangements, which are considered in the presentation of derivative assets and liabilities in the accompanying consolidated balance sheets (in thousands):


	December 31, 2012								December 31, 2011
	Assets		(Liabilities)						Assets		(Liabilities)
	Carrying Value		Carrying Value			Net Carrying Value			Carrying Value		Carrying Value			Net Carrying Value
Derivatives that qualify for cash flow hedge accounting :
Swaps ^(a)	$	22,236	$	(3,242	)	$	18,994		$	54,318	$	(419	)	$	53,899
Collars ^(a)		129,878		(9,721	)		120,157			228,228		(1,954	)		226,274

	$	152,114	$	(12,963	)	$	139,151		$	282,546	$	(2,373	)	$	280,173

Derivatives that do not qualify for hedge accounting :
Sold swaps ^(a)	$	7,316	$	(8,904	)	$	(1,588	)	$	17,949	$	(2,794	)	$	15,155
Re-purchased swaps ^(a)		5,920		—			5,920			—		—			—
Collars ^(a)		857		—			857			—		(14,653	)		(14,653	)
Call options ^(a)		—		—			—			—		(29,348	)		(29,348	)
Basis swaps ^(a)		993		—			993			—		—			—

	$	15,086	$	(8,904	)	$	6,182		$	17,949	$	(46,795	)	$	(28,846	)

^(a)	Included in unrealized derivative gain or loss in the accompanying consolidated balance sheets.

The effects of our cash flow hedges (or those derivatives that qualify for hedge accounting) on accumulated other comprehensive income in the accompanying consolidated balance sheets is summarized below:


	Year Ended December 31,
	Change in Hedge Derivative Fair Value						Realized Gain Reclassified from OCI into Revenue ^(a)
	2012			2011			2012			2011
Swaps	$	46,371		$	51,997		$	78,779		$	—
Put options		(1,955	)		—			(1,955	)		—
Collars		74,766			223,408			159,481			123,594
Collars – discontinued operations		—			412			—			8,607
Income taxes		(47,466	)		(104,464	)		(91,871	)		(50,005	)

	$	71,716		$	171,353		$	144,434		$	82,196

^(a)	For realized gains upon contract settlement, the reduction in AOCI is offset by an increase in natural gas, NGLs and oil sales. For realized losses upon contract settlement, the increase in AOCI is offset by a decrease in natural gas, NGLs and oil sales.

The effects of our non-hedge derivatives (or those derivatives that do not qualify for hedge accounting) and the ineffective portion of our hedge derivatives on our consolidated statements of operations is summarized below:


	Year Ended December 31,
	Gain (Loss) Recognized in Income (Non-hedge Derivatives)									Gain (Loss) Recognized in Income (Ineffective Portion)							Derivative Fair Value Income
	2012			2011			2010			2012			2011		2010		2012			2011			2010
Swaps	$	11,601		$	24,767		$	—		$	(657	)	$	767	$	—	$	10,944		$	25,534		$	—
Re-purchased swaps		9,313			—			—			—			—		—		9,313			—			—
Collars		5,126			5,266			65,996			1,782			8,777		2,035		6,908			14,043			68,031
Call options		13,178			553			(15,895	)		—			—		—		13,178			553			(15,895	)
Put options		(30	)		—			—			—			—		—		(30	)		—			—
Basis swaps		1,124			(43	)		(502	)		—			—		—		1,124			(43	)		(502	)

Total	$	40,312		$	30,543		$	49,599		$	1,125		$	9,544	$	2,035	$	41,437		$	40,087		$	51,634

The United States Congress adopted comprehensive financial reform legislation that establishes federal oversight and regulation of the over-the-counter derivative market and entities, such as Range, that participate in that market. The new regulation, known as the Dodd-Frank Wall Street Reform and Consumer Protection Act required the Commodities Futures Trading Commission (the “CFTC”) and the SEC to promulgate rules and regulations implementing the new legislation. In July 2012 certain definitions were adopted by the SEC and the CFTC and based on those definitions, we believe we will qualify for the end-user exception related to the clearing requirement for swaps but we will be required to adhere to new reporting requirements.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624177-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4H
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624258-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708775-113959

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80748-113994

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41635-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708773-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624181-113959

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2012

FAIR VALUE MEASUREMENTS

(12) FAIR VALUE MEASUREMENTS

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three approaches for measuring the fair value of assets and liabilities: the market approach, the income approach and the cost approach, each of which includes multiple valuation techniques. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to measure fair value by converting future amounts, such as cash flows or earnings, into a single present value amount using current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace the service capacity of an asset. This is often referred to as current replacement cost. The cost approach assumes that the fair value would not exceed what it would cost a market participant to acquire or construct a substitute asset of comparable utility, adjusted for obsolescence.

The fair value accounting standards do not prescribe which valuation technique should be used when measuring fair value and does not prioritize among the techniques. These standards establish a fair value hierarchy that prioritizes the inputs used in applying the various valuation techniques. Inputs broadly refer to the assumptions that market participants use to make pricing decisions, including assumptions about risk. Level 1 inputs are given the highest priority in the fair value hierarchy while Level 3 inputs are given the lowest priority. The three levels of the fair value hierarchy are as follows:

•

Level 1 – Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

•

Level 2 – Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

•

Level 3 – Unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management’s best estimate of fair value.

Valuation techniques that maximize the use of observable inputs are favored. Assets and liabilities are classified in their entirety based on the lowest priority level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities within the levels of the fair value hierarchy.

Fair Values-Recurring

We use a market approach for our recurring fair value measurements and endeavor to use the best information available. Accordingly, valuation techniques that maximize the use of observable impacts are favored. The following tables present the fair value hierarchy table for assets and liabilities measured at fair value, on a recurring basis (in thousands):


	Fair Value Measurements at December 31, 2012 Using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Carrying Value as of December 31, 2012
Trading securities held in the deferred compensation plans	$	57,776	$	—	$	—	$	57,776
Derivatives–swaps		—		23,326		—		23,326
–collars		—		121,014		—		121,014
–basis swaps		—		993		—		993


	Fair Value Measurements at December 31, 2011 Using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Carrying Value as of December 31, 2011
Trading securities held in the deferred compensation plans	$	50,237	$	—		$	—	$	50,237
Derivatives–swaps		—		69,054			—		69,054
–collars		—		211,621			—		211,621
–call options		—		(29,348	)		—		(29,348	)

Our trading securities in Level 1 are exchange-traded and measured at fair value with a market approach using December 31, 2012 market values. Derivatives in Level 2 are measured at fair value with a market approach using third-party pricing services, which have been corroborated with data from active markets or broker quotes.

Our trading securities held in the deferred compensation plan are accounted for using the mark-to-market accounting method and are included in other assets in the accompanying consolidated balance sheets. We elected to adopt the fair value option to simplify our accounting for the investments in our deferred compensation plan. Interest, dividends, and mark-to-market gains/losses are included in deferred compensation plan expense in the accompanying statement of operations. For the year ended December 31, 2012, interest and dividends were $1.4 million and mark-to-market was a gain of $4.7 million. For the year ended December 31, 2011, interest and dividends were $1.4 million and mark-to-market was a loss of $2.3 million. For the year ended December 31, 2010, interest and dividends were $864,000 and the mark-to-market was a gain of $11.5 million.

Fair Values-Non recurring

We review our long-lived assets to be held and used for impairment, including proved natural gas and oil properties, whenever events or circumstances indicate the carrying value of those assets may not be recoverable. During the year ended December 31, 2012, we recognized charges for impairment of oil and gas properties in continuing operations of $34.3 million compared to $38.7 million in 2011 and $6.5 million in 2010. Also in 2012, we evaluated certain surface property we own which included a consideration for the potential sale of the assets and we recognized an impairment charge of $1.3 million. Discontinued operations includes an impairment charge related to our Barnett Shale assets of $463.2 million in 2010.

Continuing Operations

Due to declines in commodity prices and estimated reserves over the last three years, there were indications that the carrying values of certain of our oil and gas properties may be impaired and undiscounted future cash flows attributed to these assets indicated their carrying amounts were not expected to be recovered. Their fair value was measured using an income approach based upon internal estimates of future production levels, prices, drilling and operating costs and discount rates, which are Level 3 inputs. In some cases, we also considered the potential sale of certain of these properties. We recorded non-cash charges during 2012 of $31.1 million related to our Mississippi natural gas and oil properties and $3.2 million related to oil and natural gas properties in North Texas. We recorded non-cash charges during 2011 of $31.2 million related to our East Texas natural gas and oil properties and $7.5 million related to our Gulf Coast onshore properties. 2010 includes impairment charges of $6.5 million related to our Gulf Coast onshore properties.

The following table presents the value of these assets measured at fair value on a nonrecurring basis (in thousands):


	Year Ended December 31,
	2012				2011				2010
	Fair Value		Impairment		Fair Value		Impairment		Fair Value		Impairment
Natural gas and oil properties – continuing operations	$	12,604	$	34,273	$	24,388	$	38,681	$	16,075	$	6,505
Natural gas and oil properties – discontinued operations		—		—		—		—		835,913		463,244
Surface property		6,269		1,281		—		—		—		—

Discontinued Operations

Our Barnett properties did not meet held for sale criteria as of December 31, 2010 but our analysis determined that undiscounted cash flows for these properties were less than their carrying value. We compared the carrying value to the estimated fair value and recognized an impairment charge of $463.2 million in fourth quarter 2010, which is reflected in discontinued operations. The fair value of our Barnett properties considered the potential sale of these properties in addition to using an income approach with internal estimates which included reserve quantities, forward natural gas prices, anticipated drilling and operating costs and discount rates, which are Level 3 inputs.

Fair Values – Reported

The following table presents the carrying amounts and the fair values of our financial instruments as of December 31, 2012 and 2011 (in thousands):


	December 31, 2012						December 31, 2011
	Carrying Value			Fair Value			Carrying Value			Fair Value
Assets:
Commodity swaps, collars, basis swaps, call and put options	$	153,267		$	153,267		$	251,500		$	251,500
Marketable securities^(a)		57,776			57,776			50,237			50,237
Liabilities:
Commodity swaps, collars and call options		(7,934	)		(7,934	)		(173	)		(173	)
Bank credit facility^(b)		(739,000	)		(739,000	)		(187,000	)		(187,000	)
Deferred compensation plan^(c)		(187,604	)		(187,604	)		(169,188	)		(169,188	)
7.5% senior subordinated notes due 2017^(b)		—			—			(250,000	)		(265,625	)
7.25% senior subordinated notes due 2018^(b)		(250,000	)		(262,500	)		(250,000	)		(267,500	)
8.00% senior subordinated notes due 2019^(b)		(289,185	)		(332,250	)		(287,967	)		(334,500	)
6.75% senior subordinated notes due 2020^(b)		(500,000	)		(542,500	)		(500,000	)		(555,000	)
5.75% senior subordinated notes due 2021^(b)		(500,000	)		(535,000	)		(500,000	)		(541,250	)
5.00% senior subordinated notes due 2022^(b)		(600,000	)		(627,000	)		—			—

^(a)	Marketable securities are held in our deferred compensation plans that are actively traded on major exchanges.

^(b)	The book value of our bank debt approximates fair value because of its floating rate structure. The fair value of our senior subordinated notes is based on end of period market quotes, which are Level 2 inputs.

^(c)	The fair value of our deferred compensation plan is updated based on the closing price on the balance sheet date.

Our current assets and liabilities contain financial instruments, the most significant of which are trade accounts receivables and payables. We believe the carrying values of our current assets and liabilities approximate fair value. Our fair value assessment incorporates a variety of considerations, including (1) the short-term duration of the instruments and (2) our historical incurrence of and expected future insignificance of bad debt expense.

Concentrations of Credit Risk

As of December 31, 2012, our primary concentration of credit risks are the risks of collecting accounts receivable and the risk of counterparties’ failure to perform under derivative obligations. See Note 2 for information regarding our accounts receivable and derivative assets and liabilities by counterparty and Note 16 for information regarding our major customers.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

STOCK-BASED COMPENSATION PLANS

12 Months Ended

Dec. 31, 2012

STOCK-BASED COMPENSATION PLANS

(13) STOCK-BASED COMPENSATION PLANS

Description of the Plans

The 2005 Equity Based Compensation Plan (the “2005 Plan”) authorizes the Compensation Committee of the Board of Directors to grant, among other things, stock options, stock appreciation rights and restricted stock awards to employees and directors. The 2004 Non-Employee Director Stock Option Plan (the “Director Plan”) allows such grants to our non-employee directors of our Board of Directors. The 2005 Plan was approved by stockholders in May 2005 and replaced our 1999 Stock Option Plan. No new grants have been made from the 1999 Stock Option Plan. The number of shares that may be issued under the 2005 Plan is equal to (i) 5.6 million shares (15.0 million less the 2.2 million shares issued under the 1999 Stock Option Plan before May 18, 2005, the effective date of the 2005 Plan and less the 7.2 million shares issuable pursuant to awards under the 1999 Stock Option Plan outstanding as of the effective date of the 2005 Plan) plus (ii) the number of shares subject to 1999 Stock Option Plan awards outstanding at May 18, 2005 that subsequently lapse or terminate without the underlying shares being issued plus (iii) subsequent shares approved by the shareholders. The Director Plan was approved by stockholders in May 2004 and no more than 450,000 shares of common stock may be issued under the Director Plan.

Stock-Based Awards

Stock options represent the right to purchase shares of stock in the future at the fair value of the stock on the date of grant. Most stock options granted under our stock option plans vest over a three-year period and expired five years from the date they are granted. Beginning in 2005, we began granting SARs to reduce the dilutive impact of our equity plans. Similar to stock options, SARs represent the right to receive a payment equal to the excess of the fair market value of shares of common stock on the date the right is exercised over the value of the stock on the date of grant. All SARs granted under the 2005 Plan will be settled in shares of stock, vest over a three-year period and have a maximum term of five years from the date they are granted. Beginning in first quarter 2011, the compensation committee also began granting restricted stock units under our equity-based stock compensation plans. These restricted stock units, which we refer to as restricted stock Equity Awards, vest over a three-year period. All awards granted have been issued at prevailing market prices at the time of grant and the vesting of these shares is based upon an employee’s continued employment with us.

The Compensation Committee also grants restricted stock to certain employees and non-employee directors of the Board of Directors as part of their compensation. Compensation expense is recognized over the balance of the vesting period, which is typically three years for employee grants and immediate vesting for non-employee directors. All restricted stock awards are issued at prevailing market prices at the time of the grant and the vesting is based upon an employee’s continued employment with us. Prior to vesting, all restricted stock awards have the right to vote such stock (by the trustee) and receive dividends thereon. Upon grant of these restricted shares, which we refer to as restricted stock Liability Awards, the shares are placed in our deferred compensation plan and, upon vesting, employees are allowed to take withdrawals either in cash or in stock. These Liability Awards are classified as a liability and are remeasured at fair value each reporting period. This mark-to-market amount is reported in deferred compensation plan expense in the accompanying consolidated statements of operations. Historically, we have used authorized but unissued shares of stock when restricted stock is granted. However, we also utilize treasury shares when available.

Total Stock-Based Compensation Expense

Stock-based compensation represents amortization of restricted stock grants and SARs expense. In 2012, stock-based compensation was allocated to operating expense ($2.4 million), exploration expense ($4.1 million), brokered natural gas and marketing ($1.8 million) and general and administrative expense ($44.5 million) for a total of $52.8 million. In 2011, stock-based compensation was allocated to operating expense ($2.0 million), exploration expense ($4.1 million), brokered natural gas and marketing ($1.5 million) and general and administrative expense ($36.2 million) for a total of $43.8 million. In 2010, stock-based compensation was allocated to operating expense ($2.0 million), exploration expense ($4.2 million), brokered natural gas and marketing ($1.2 million), general and administrative expense ($34.2 million) and termination costs ($2.8 million) for a total of $44.4 million. Unlike the other forms of stock-based compensation mentioned above, the mark-to-market of the liability related to the vested restricted stock held in our deferred compensation plans is directly tied to the change in our stock price and not directly related to the functional expenses and therefore, is not allocated to the functional categories. For the year ended December 31, 2012, cash received upon exercise of stock options/SARs awards was $2.1 million. For the year ended December 31, 2012 and 2010, tax benefits realized for deductions that were in excess of the stock-based compensation expense were not recognized due to our net operating loss position. In 2011, as a result of realizing federal taxable income, a tax benefit of $11.7 million has been recognized in our net operating loss carryforward for the excess tax deduction over our stock-based compensation expense.

Stock and Option Plans

We have two active equity-based stock plans, the 2005 Plan and the Director Plan. Under these plans, incentive and non-qualified stock options, stock appreciation rights, restricted stock units and various other awards may be issued to directors and employees pursuant to decisions of the Compensation Committee, which is made up of non-employee, independent directors from the Board of Directors. All awards granted under these plans have been issued at prevailing market prices at the time of the grant. Of the 3.4 million grants outstanding at December 31, 2012, grants of 32,000 relate to stock options with the remainder of the 3.4 million outstanding grants relating to SARs. Information with respect to stock option and SARs activities is summarized below.


	Shares			Weighted Average Exercise Price
Outstanding at December 31, 2009		7,154,712		$	31.38
Granted		1,394,136			46.09
Exercised		(1,883,091	)		20.49
Expired/forfeited		(203,918	)		48.18

Outstanding at December 31, 2010		6,461,839			37.20
Granted		843,485			51.17
Exercised		(2,511,989	)		32.69
Expired/forfeited		(234,726	)		52.65

Outstanding at December 31, 2011		4,558,609			41.47
Granted		754,471			64.14
Exercised		(1,860,367	)		30.20
Expired/forfeited		(19,351	)		48.00

Outstanding at December 31, 2012		3,433,362		$	52.52

The following table shows information with respect to stock options and SARs outstanding and exercisable at December 31, 2012:


	Outstanding						Exercisable
Range of Exercise Prices	Shares		Weighted Average Remaining Contractual Life (in years)		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
$1.29–$ 9.99		17,015		0.67	$	2.36		17,015	$	2.36
10.00–19.99		15,435		2.73		19.63		15,435		19.63
20.00–29.99		—		—		—		—		—
30.00–39.99		226,838		1.19		34.30		223,458		34.23
40.00–49.99		1,543,269		2.15		45.38		903,347		44.22
50.00–59.99		534,922		3.09		52.86		222,686		53.59
60.00–69.99		767,013		4.01		64.17		96,534		64.57
70.00–75.00		328,870		0.35		75.00		328,870		75.00

Total		3,433,362		2.47	$	52.52		1,807,345	$	50.22

Stock Appreciation Right Awards

During 2012, 2011 and 2010, we granted SARs to officers, non-officer employees and directors. The weighted average grant date fair value of these SARs, based on our Black-Scholes-Merton assumptions, is shown below:


	2012			2011			2010
Weighted average exercise price per share	$	64.14		$	51.17		$	46.09
Expected annual dividends per share		0.25	%		0.31	%		0.35	%
Expected life in years		3.7			3.7			3.6
Expected volatility		45	%		47	%		49	%
Risk-free interest rate		0.5	%		1.4	%		1.6	%
Weighted average grant date fair value	$	21.32		$	18.22		$	17.01

The expected dividend yield is based on the current annual dividend at the time of grant. The expected life was based on the historical exercise activity. The expected volatility factors are based on a combination of both the historical volatilities of the stock and implied volatility of traded options on our common stock. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods commensurate with the expected terms of the options.

The total intrinsic value (the difference in value between exercise and market price) of stock options and SARs exercised during the years ended December 31, 2012 was $61.0 million compared to $62.5 million in 2011 and $50.6 million in 2010. As of December 31, 2012, the aggregate intrinsic value of the awards outstanding was $40.4 million. The aggregate intrinsic value and weighted average remaining contractual life of stock option/SARs awards currently exercisable was $27.0 million and 1.62 years. As of December 31, 2012, the number of fully vested awards and awards expected to vest was 3.3 million. The weighted average exercise price and weighted average remaining contractual life of these awards were $52.45 and 2.43 years and the aggregate intrinsic value was $39.0 million. As of December 31, 2012, unrecognized compensation cost related to the awards was $16.7 million, which is expected to be recognized over a weighted average period of 1.8 years.

Restricted Stock Awards

Equity Awards

In 2012, we granted 364,000 restricted stock Equity Awards to employees which generally vest over a three-year period. We recorded compensation expense for these awards of $11.8 million in the year ended December 31, 2012. In 2011, we granted 331,000 restricted stock Equity Awards to employees and recorded compensation expense of $4.2 million. As of December 31, 2012, there was $15.4 million of unrecognized compensation related to Equity Awards expected to be recognized over a weighted average period of 2.0 years. Equity Awards are not issued to employees until such time they are vested and the employees do not have the option to receive cash.

Liability Awards

In 2012, we granted 381,000 shares of restricted stock Liability Awards as compensation to directors and employees at an average price of $64.06. This grant included 14,700 issued to non-employee directors, which vest immediately and 366,300 to employees with vesting generally over a three-year period. In 2011, we granted 352,000 shares of restricted stock Liability Awards as compensation to directors and employees at an average price of $51.17. This grant included 18,000 issued to non-employee directors, which vest immediately and 334,000 to employees with vesting generally over a three-year period. In 2010, we granted 413,000 shares of Liability Awards as compensation to directors and employees at an average price of $45.83. This grant included 21,000 issued to non-employee directors, which vest immediately, and 392,000 to employees with vesting generally over a three-year period. We recorded compensation expense for these Liability Awards of $21.5 million in the year ended December 31, 2012 compared to $19.1 million in 2011 and $20.5 million in 2010. As of December 31, 2012, there was $21.6 million of unrecognized compensation related to Liability Awards expected to be recognized over a weighted average period of 1.9 years. Substantially all of these awards are held in our deferred compensation plan, are classified as liability and are remeasured at fair value each reporting period. This mark-to-market is reported in the deferred compensation expense in our consolidated statement of operations (see additional discussion below). The proceeds received from the sale of stock held in our deferred compensation plan was $26.6 million in 2012.

A summary of the status of our non-vested restricted stock outstanding at December 31, 2012 is summarized below:


	Equity Awards					Liability Awards
	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2009		—		$	—		627,189		$	45.64
Granted		—			—		413,422			45.83
Vested		—			—		(439,361	)		46.90
Forfeited		—			—		(18,499	)		46.04

Outstanding at December 31, 2010		—			—		582,751			44.81
Granted		331,209			49.56		352,419			51.17
Vested		(88,854	)		49.37		(418,634	)		45.55
Forfeited		(20,746	)		49.45		(29,292	)		45.04

Outstanding at December 31, 2011		221,609			49.64		487,244			48.76
Granted		364,082			63.44		380,808			64.06
Vested		(208,802	)		56.73		(438,283	)		52.17
Forfeited		(27,733	)		58.65		(6,291	)		54.54

Outstanding at December 31, 2012		349,156		$	59.08		423,478		$	58.91

401(k) Plan

We maintain a 401(k) benefit plan that allows employees to contribute up to 75% of their salary (subject to Internal Revenue Service limitations) on a pretax basis. Prior to 2008, we made discretionary contributions of our common stock to the 401(k) Plan annually. Beginning in 2008, we began matching up to 6% of salary in cash. All our contributions become fully vested after the individual employee has two years of service with us. Beginning in 2013, vesting of our contributions will be immediate. In 2012, we contributed $4.0 million to the 401(k) Plan compared to $3.3 million in 2011. Employees have a variety of investment options in the 401(k) benefit plan.

Deferred Compensation Plan

Our deferred compensation plan gives directors, officers and key employees the ability to defer all or a portion of their salaries and bonuses and invest in Range common stock or make other investments at the individual’s discretion. Range provides a partial matching contribution which vests over three years. The assets of the plans are held in a grantor trust, which we refer to as the Rabbi Trust, and are therefore available to satisfy the claims of our creditors in the event of bankruptcy or insolvency. Our stock held in the Rabbi Trust is treated as a liability award as employees are allowed to take withdrawals from the Rabbi Trust either in cash or in Range stock. The liability for the vested portion of the stock held in the Rabbi Trust is reflected in the deferred compensation liability in the accompanying consolidated balance sheets and is adjusted to fair value each reporting period by a charge or credit to deferred compensation plan expense on our consolidated statements of operations. The assets of the Rabbi Trust, other than our common stock, are invested in marketable securities and reported at their market value in other assets in the accompanying consolidated balance sheets. The deferred compensation liability reflects the vested market value of the marketable securities and Range stock held in the Rabbi Trust. Changes in the market value of the marketable securities and changes in the fair value of the deferred compensation plan liability are charged or credited to deferred compensation plan expense each quarter. We recorded a mark-to-market loss of $7.2 million in 2012 compared to mark-to-market loss of $43.2 million in 2011 and mark-to-market gain of $10.2 million in 2010. The Rabbi Trust held 2.7 million shares (2.3 million of vested shares) of Range stock at December 31, 2012 compared to 2.8 million shares (2.3 million of vested shares) at December 31, 2011.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

SUPPLEMENTAL CASH FLOW INFORMATION

12 Months Ended

Dec. 31, 2012

SUPPLEMENTAL CASH FLOW INFORMATION

(14) SUPPLEMENTAL CASH FLOW INFORMATION


	Year Ended December 31,
	2012		2011		2010
	(in thousands)
Net cash provided from operating activities included:
Income taxes paid (refunded from) to taxing authorities	$	386	$	675	$	(1,359	)
Interest paid		153,249		133,103		116,766

Non-cash investing and financing activities included:
Asset retirement costs (removed) capitalized, net		57,982		24,061		(6,370	)
Unproved property purchased with stock		—		—		20,000

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2012

COMMITMENTS AND CONTINGENCIES

(15) COMMITMENTS AND CONTINGENCIES

Litigation

James A. Drummond and Chris Parrish v. Range Resources-Midcontinent, LLC et al.

Two individuals, one a current royalty owner, filed suit against Range Resources Corporation and two of our subsidiaries, including the proper defendant Range Resources-Midcontinent, LLC, in the District Court of Grady County, Oklahoma. This suit is similar to a number of cases filed in Oklahoma asserting claims that royalty owners are entitled to payment of royalties on several different categories of alleged “deductions” applied by third parties who transport and process natural gas production. The alleged deductions include fuel used by the third party in the transportation and processing of gas; condensate removed by the third party after the point of sale, the contractually agreed natural gas liquids recovery percentages, the percentage of proceeds contracts’ contractually agreed pricing percentages and other similar alleged “deductions.” In addition to the claims made with respect to the alleged categories of deductions, the Plaintiffs in this litigation have alleged fraud and the existence of a fiduciary duty to the royalty owners to attempt to support an argument that no statute of limitations applies, and the Plaintiffs also claim that interest accrues on the alleged damages at 12% compounded annually. Thus while we cannot reasonably estimate our potential exposure at this time, the damages claimed by the Plaintiffs have been estimated by the Plaintiffs’ counsel to be in excess of $140 million. We believe Oklahoma is a “first marketable product” rule state and the current case law in Oklahoma (principally Mittelstaedt v. Santa Fe) allows operators to deduct value enhancing costs for treating, compression, and other post-production expenses incurred to increase the value of a marketable product; however, whether and when gas is a marketable product and the extent to which the deductions are permitted may be fact questions under Oklahoma law. Further, we do not typically transport and process the gas production from wells we operate in Oklahoma but instead sell the gas production to unaffiliated third parties which, in many cases, do transport and process the gas. Range maintains that the alleged “deductions” made the subject of the Plaintiffs’ claims are not deductions at all but the negotiated terms of the contracts with the third parties who buy, transport and process the gas under terms that allow Range and its royalty owners to share in the enhanced downstream value that establishes the purchase price for the production sold by us, and on which we have paid royalty. Range further believes that its production is marketable under Oklahoma law when sold to such unaffiliated third parties. The terms with respect to payment of royalties vary based on the terms of the various oil and gas leases owned by Range for its Oklahoma wells and wells it has owned and operated in Oklahoma in the past, and our subsidiary believes that it has substantially complied with its royalty payment obligations under its leases and we therefore intend to vigorously defend this litigation. On February 19, 2013, the District Court entered an order certifying a class of royalty owners as requested by the Plaintiffs and we intend to appeal the class certification order.

We are the subject of, or party to, a number of other pending or threatened legal actions and claims arising in the ordinary course of our business. While many of these matters involve inherent uncertainty, we believe that the amount of the liability, if any, ultimately incurred with respect to proceedings or claims will not have a material adverse effect on our consolidated financial position as a whole or on our liquidity, capital resources or future annual results of operations. We will continue to evaluate our litigation on a quarter-by-quarter basis and will establish and adjust any litigation reserves as appropriate to reflect our assessment of the then current status of litigation.

Lease Commitments

We lease certain office space, office equipment, production facilities, compressors and transportation equipment under cancelable and non-cancelable leases. Rent expense under operating leases (including renewable monthly leases and amounts related to discontinued operations) totaled $13.8 million in 2012 compared to $18.6 million in 2011 and $18.5 million in 2010. Commitments related to these lease payments are not recorded in the accompanying consolidated balance sheets. Future minimum rental commitments under non-cancelable leases having remaining lease terms in excess of one year are as follows (in thousands):


	Operating Lease Obligations
2013	$	13,497
2014		13,645
2015		13,363
2016		10,090
2017		5,923
Thereafter		21,628

	$	78,146

Transportation and Gathering Contracts

We have entered firm transportation and gathering contracts with various pipeline carriers for the future transportation and gathering of natural gas, NGLs and oil production primarily from our properties in Pennsylvania. Under these contracts, we are obligated to transport or gather minimum daily natural gas volumes, or pay for any deficiencies at a specified reservation fee rate. In most cases, our production committed to these pipelines is expected to exceed the minimum daily volumes provided in the contracts. As of December 31, 2012, future minimum transportation and gathering fees under our commitments are as follows (in thousands):


	Transportation and Gathering Contracts
2013	$	184,802
2014		177,027
2015		182,884
2016		185,709
2017		181,995
Thereafter		825,717

	$	1,738,134

In addition to the amounts included in the above table, we have contracted with several pipeline companies through 2028 to transport natural gas, ethane and propane production volumes from certain Marcellus Shale wells. These agreements and related fees, which are contingent on certain pipeline modifications and/or pipeline construction, are for 12,329 mcfe per day in 2013, 164,918 mcfe per day in 2014, 254,836 mcfe per day in 2015 and 435,000 mcfe per day until the end of the contractual term.

Drilling Contracts

As of December 31, 2012, we have contracts with drilling contractors to use three drilling rigs with terms of up to three years and minimum future commitments of $22.1 million in 2013, $10.8 million in 2014 and $6.7 in 2015. Early termination of these contracts at December 31, 2012 would have required us to pay maximum penalties of $20.6 million. We do not expect to pay any early termination penalties related to these contracts.

Delivery Commitments

We have various volume delivery commitments that are primarily related to our Midcontinent and Marcellus areas. We expect to be able to fulfill our contractual obligations from our own production, however; we may purchase third party volumes to satisfy our commitments or pay demand fees for commitment shortfalls, should they occur. As of December 31, 2012, our delivery commitments through 2017 were as follows:


Year Ending December 31,	Natural Gas and Ethane (mcfe per day)
2013		196,532
2014		203,123
2015		147,263
2016		102,318
2017		52,055

In addition to the amounts included in the above table, we have contracted with several pipeline companies through 2028 to deliver ethane production volumes in Appalachia from our Marcellus Shale wells. These agreements and related fees, which are contingent upon pipeline construction and/or modification, are for 15,123 mcfe per day in 2013, 90,000 mcfe per day in 2014, 162,658 mcfe per day in 2015 and 210,000 mcfe per day until the end of the contractual terms.

Other

We have agreements in place for hydraulic fracturing including related equipment, material and labor for $24.0 million in 2013. We also have agreements to purchase seismic data for $5.3 million in 2013 and $3.9 million in 2014. We also have lease acreage that is generally subject to lease expiration if initial wells are not drilled within a specified period, generally between three to five years. We do not expect to lose significant lease acreage because of failure to drill due to inadequate capital, equipment or personnel. However, based on our evaluation of prospective economics, we have allowed acreage to expire and will allow additional acreage to expire in the future. To date, our expenditures to comply with environmental or safety regulations have not been a significant component of our cost structure and is not expected to be significant in the future. However, new regulations, enforcement policies, claims for damages or other events could result in significant future costs.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

MAJOR CUSTOMERS

12 Months Ended

Dec. 31, 2012

MAJOR CUSTOMERS

(16) MAJOR CUSTOMERS

We sell our share of our production to various purchasers. We record allowance for doubtful accounts based on the age of the accounts receivable, the financial condition of the purchasers and we may require purchasers to provide collateral or otherwise secure their account. For the years ended December 31, 2012 and 2011, we had two customers that accounted for 10% or more of total natural gas, NGLs and oil sales. For the year ended December 31, 2010, we had no customers that accounted for 10% or more of total natural gas, NGLs and oil sales. We believe that the loss of any one customer would not have an adverse effect on our ability to sell our natural gas, NGLs and oil production.

EQUITY METHOD INVESTMENTS

12 Months Ended

Dec. 31, 2012

EQUITY METHOD INVESTMENTS

(17) EQUITY METHOD INVESTMENTS

We account for our investments in entities over which we have significant influence, but not control, using the equity method of accounting. Under the equity method of accounting, we record our proportionate share of net earnings, declared dividends and partnership distributions based on the most recently available financial statements of the investee. We also evaluate our equity method investments for potential impairment whenever events or changes in circumstances indicate that there is an other than temporary decline in value of the investment. Such events may include sustained operating losses by the investee or long-term negative changes in the investee’s industry.

Investment in Whipstock Natural Gas Services, LLC

In 2006, we acquired a 50% interest in Whipstock Natural Gas Services, LLC (“Whipstock”), an unconsolidated investee in the business of providing oil and gas drilling equipment, well servicing rigs and equipment, and other well services in Appalachia. On the acquisition date, we contributed cash of $11.7 million representing the fair value of 50% of the membership interest in Whipstock.

Whipstock follows a calendar year basis of financial reporting consistent with us and our equity in Whipstock’s earnings from the acquisition date is included in brokered natural gas, marketing and other revenue in the accompanying statements of operations for 2012, 2011 and 2010. In determining our proportionate share of the net earnings of Whipstock, certain adjustments are required to be made to Whipstock’s reported results to eliminate the profits recognized by Whipstock for services provided to us. For the year ended December 31, 2012, our equity in the income of Whipstock totaled $818,000 compared to losses of $481,000 in 2011 and losses of $2.2 million in 2010. In 2012, equity in the losses of Whipstock was reduced by $14,000 to eliminate the profit on services provided to us compared to $6,000 in 2011 and $1.1 million in 2010. Our net book value in this equity investment was $2.0 million at December 31, 2012. Range and Whipstock have entered into an agreement whereby Whipstock will provide us with the right of first refusal such that we will have the opportunity to secure services from Whipstock in preference to and in advance of Whipstock entering into additional commitments for services with other customers. All services provided to us are based on Whipstock’s usual and customary terms.

Investment in Nora Gathering, LLC

In May 2007, we completed the initial closing of a joint development arrangement with EQT Corporation (“EQT”). Pursuant to the terms of the arrangement, Range and EQT (“the parties”) agreed to, among other things, form a new pipeline and natural gas gathering operations entity, Nora Gathering, LLC (“NGLLC”). NGLLC is an unconsolidated investee created by the parties for the purpose of conducting pipeline, natural gas gathering, and transportation operations associated with the parties’ collective interests in properties in the Nora Field. In connection with the acquisition, we contributed cash of $94.7 million for a 50% membership interest in NGLLC. In 2012, 2011 or 2010, Range and EQT made no additional contributions to fund the expansion of the Nora Field gathering system infrastructure.

NGLLC follows a calendar year basis of financial reporting consistent with Range and our equity in NGLLC earnings from the acquisition date is included in brokered natural gas, marketing and other revenue in the accompanying statements of operations for 2012, 2011 and 2010. There were no dividends or partnership distributions received from NGLLC in the year ended December 31, 2010. In 2011, we received partnership distributions of $23.5 million and in 2012, we received partnership distributions of $12.8 million. In determining our proportionate share of the net earnings of NGLLC, certain adjustments are required to be made to NGLLC’s reported results to eliminate the profits recognized by NGLLC included in the gathering and transportation fees charged to us on production in the Nora field. For the year ended December 31, 2012, our equity in losses of NGLLC of $1.2 million reflects a reduction of $7.5 million to eliminate the profit on the gathering and transportation fees charged to us. For the year ended December 31, 2011, our equity in the losses of NGLLC of $563,000 reflects a reduction of $7.7 million to eliminate the profit on the gathering and transportation fees charged to us. For the year ended December 31, 2010, our equity in the income of NGLLC of $684,000 reflects a reduction of $8.8 million to eliminate the profit on gathering and transportation fees charged to us. Our net book value in this equity investment was $130.5 million at December 31, 2012.

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References + Details

OFFICE CLOSING AND EXIT ACTIVITIES

12 Months Ended

Dec. 31, 2012

OFFICE CLOSING AND EXIT ACTIVITIES

(18) OFFICE CLOSING AND EXIT ACTIVITIES

In February 2010, we entered into an agreement to sell our natural gas and oil properties in Ohio. First quarter 2010 includes $5.1 million accrued severance costs, which is reflected in termination costs in the accompanying consolidated statements of operations. As part of their severance agreement, our Ohio employees’ vesting of SARs and restricted stock grants was accelerated, increasing termination costs for stock compensation expense by approximately $2.8 million.


	2012			2011			2010
Beginning balance	$	52		$	1,092		$	1,568
Accrued one-time termination costs		—			—			5,138
Office lease		—			—			514
Payments		(52	)		(1,040	)		(6,128	)

Ending balance	$	—		$	52		$	1,092

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References + Details

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2012

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

(19) SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

The following tables set forth unaudited financial information on a quarterly basis for each of the last two years. We have reclassified prior period other revenue and total expenses as discussed in Note 2. Income (loss) from continuing operations did not change because the offsetting amounts are included in brokered natural gas and marketing expense. Abandonment and impairment of unproved properties in the fourth quarter 2011 includes $3.0 million related to prior years. In addition, deferred tax expense in fourth quarter 2011 includes $3.1 million related to prior years.


	2012
	March			June			September			December			Total
Revenues and other income:
Natural gas, NGLs and oil sales	$	317,617		$	298,349		$	337,040		$	398,688		$	1,351,694
Derivative fair value (loss) income		(60,833	)		148,569			(40,728	)		(5,571	)		41,437
(Loss) gain on the sale of assets		(10,426	)		(3,227	)		949			61,836			49,132
Brokered natural gas, marketing and other		4,597			5,240			2,519			3,085			15,441

Total revenue and other income		250,955			448,931			299,780			458,038			1,457,704

Costs and expenses:
Direct operating		29,022			27,041			29,628			30,214			115,905
Transportation, gathering and compression		40,820			44,744			51,600			55,281			192,445
Production and ad valorem taxes		36,634			11,786			8,819			9,881			67,120
Brokered natural gas marketing		4,062			6,491			4,887			4,994			20,434
Exploration		21,516			15,517			14,752			18,022			69,807
Abandonment and impairment of unproved properties		20,289			43,641			40,118			21,230			125,278
General and administrative		38,729			44,005			44,497			46,582			173,813
Deferred compensation plan		(7,830	)		9,333			20,052			(14,352	)		7,203
Interest expense		37,205			42,888			43,997			44,708			168,798
Loss on early extinguishment of debt		—			—			—			11,063			11,063
Depletion, depreciation and amortization		100,151			108,802			123,059			113,216			445,228
Impairment of proved properties and other		—			—			1,281			34,273			35,554

Total costs and expenses		320,598			354,248			382,690			375,112			1,432,648

(Loss) income from continuing operations before income taxes		(69,643	)		94,683			(82,910	)		82,926			25,056

Income tax (benefit) expense
Current		—			—			—			(1,778	)		(1,778	)
Deferred		(27,843	)		39,007			(29,074	)		31,742			13,832

		(27,843	)		39,007			(29,074	)		29,964			12,054

Net (loss) income	$	(41,800	)	$	55,676		$	(53,836	)	$	52,962		$	13,002

(Loss) income per common share:
Basic	$	(0.26	)	$	0.34		$	(0.34	)	$	0.33		$	0.08
Diluted	$	(0.26	)	$	0.34		$	(0.34	)	$	0.32		$	0.08


	2011
	March			June			September			December			Total
Revenues and other income:
Natural gas, NGLs and oil sales	$	251,963		$	285,353		$	304,230		$	331,720		$	1,173,266
Derivative fair value (loss) income		(40,834	)		53,039			65,761			(37,879	)		40,087
Gain (loss) on the sale of assets		139			(1,622	)		203			3,540			2,260
Brokered natural gas, marketing and other		3,911			1,506			3,775			5,837			15,029

Total revenue and other income		215,179			338,276			373,969			303,218			1,230,642

Costs and expenses:
Direct operating		28,717			28,509			29,828			25,918			112,972
Transportation, gathering and compression		25,082			28,666			32,431			34,576			120,755
Production and ad valorem taxes		6,879			7,550			7,317			5,920			27,666
Brokered natural gas and marketing		2,521			2,981			3,333			3,151			11,986
Exploration		27,187			11,592			17,606			24,982			81,367
Abandonment and impairment of unproved properties		16,537			18,900			16,627			27,639			79,703
General and administrative		33,959			39,120			35,907			42,205			151,191
Deferred compensation plan		30,630			(5,778	)		8,717			9,640			43,209
Interest expense		24,779			31,383			34,181			34,709			125,052
Loss on early extinguishment of debt		—			18,580			(4	)		—			18,576
Depletion, depreciation and amortization		72,216			78,294			93,619			97,092			341,221
Impairment of proved properties		—			—			38,681			—			38,681

Total costs and expenses		268,507			259,797			318,243			305,832			1,152,379

(Loss) income from continuing operations before income taxes		(53,328	)		78,479			55,726			(2,614	)		78,263

Income tax (benefit) expense
Current		—			8			(7	)		636			637
Deferred		(19,897	)		32,695			22,547			(425	)		34,920

		(19,897	)		32,703			22,540			211			35,557

(Loss) income from continuing operations		(33,431	)		45,776			33,186			(2,825	)		42,706
Discontinued operations, net of taxes		8,398			5,517			1,569			(164	)		15,320

Net (loss) income	$	(25,033	)	$	51,293		$	34,755		$	(2,989	)	$	58,026

(Loss) income per common share:
Basic-(loss) income from continuing operations	$	(0.21	)	$	0.28		$	0.21		$	(0.02	)	$	0.26
-discontinued operations		0.05			0.04			0.01			—			0.10

-net (loss) income	$	(0.16	)	$	0.32		$	0.22		$	(0.02	)	$	0.36

Diluted-(loss) income from continuing operations	$	(0.21	)	$	0.28		$	0.20		$	(0.02	)	$	0.26
-discontinued operations		0.05			0.04			0.01			—			0.10

-net (loss) income	$	(0.16	)	$	0.32		$	0.21		$	(0.02	)	$	0.36

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

SUPPLEMENTAL INFORMATION ON NATURAL GAS AND OIL EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES (UNAUDITED)

12 Months Ended

Dec. 31, 2012

SUPPLEMENTAL INFORMATION ON NATURAL GAS AND OIL EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES (UNAUDITED)

(20) SUPPLEMENTAL INFORMATION ON NATURAL GAS AND OIL EXPLORATION, DEVELOPMENT

AND PRODUCTION ACTIVITIES (UNAUDITED)

Our gas natural and oil producing activities are conducted onshore within the continental United States and all of our proved reserves are located within the United States.

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization ^(a)


	December 31,
	2012			2011			2010
	(in thousands)
Natural gas and oil properties:
Properties subject to depletion	$	7,368,308		$	6,035,429		$	4,742,248
Unproved properties		743,467			748,598			648,143

Total		8,111,775			6,784,027			5,390,391
Accumulated depreciation, depletion and amortization		(2,015,591	)		(1,626,461	)		(1,306,378	)

Net capitalized costs	$	6,096,184		$	5,157,566		$	4,084,013

^(a)	Includes capitalized asset retirement costs and the associated accumulated amortization.

Costs Incurred for Property Acquisition, Exploration and Development ^(a)


	Year Ended December 31,
	2012		2011		2010
	(in thousands)
Acquisitions:
Unproved leasehold	$	—	$	—	$	3,697
Proved oil and gas properties		—		—		130,767
Asset retirement obligations		—		—		556
Acreage purchases		188,843		220,576		151,572
Development		1,049,129		1,007,049		727,720
Exploration:
Drilling		309,816		226,920		50,433
Expense		65,758		77,259		56,298
Stock-based compensation expense		4,049		4,108		4,209
Gas gathering facilities:
Development		41,035		53,387		19,627

Subtotal		1,658,630		1,589,299		1,144,879
Asset retirement obligations		57,982		24,061		(6,370	)

Total – continuing operations		1,716,612		1,613,360		1,138,509
Discontinued operations		—		3,241		73,369

Total costs incurred	$	1,716,612	$	1,616,601	$	1,211,878

^(a)	Includes cost incurred whether capitalized or expensed.

Estimated Quantities of Proved Oil and Gas Reserves (Unaudited)

Reserves of natural gas, NGLs, crude oil and condensate are estimated by our petroleum engineering staff and are adjusted to reflect contractual arrangements and royalty rates in effect at the end of each year. Many assumptions and judgmental decisions are required to estimate reserves. Reported quantities are subject to future revisions, some of which may be substantial, as additional information becomes available from reservoir performance, new geological and geophysical data, additional drilling, technological advancements, price changes and other economic factors.

Recent SEC and FASB Rule-Making Activity

In December 2008, the SEC announced that it had approved revisions designed to modernize the natural gas and oil company reserves reporting requirements. We adopted the rules effective December 31, 2009 and the rule changes, including those related to pricing and technology, are included in our reserve estimates for the three years ended December 31, 2012.

Reserve Audit

All reserve information in this report is based on estimates prepared by our petroleum engineering staff. At year-end 2012, the following independent petroleum consultants conducted an audit of our reserves: DeGolyer and MacNaughton (Southwest) and Wright and Company, Inc. (Appalachia). These engineers were selected for their geographic expertise and their historical experience in engineering certain properties. At December 31, 2012, these consultants collectively audited approximately 93% of our proved reserves. Copies of the summary reserve reports prepared by each of these independent petroleum consultants are included as an exhibit to this Annual Report on Form 10-K. The technical person at each independent petroleum consulting firm responsible for reviewing the reserve estimates presented herein meet the requirements regarding qualifications, independence, objectivity and confidentiality set forth in the Standards Pertaining to the Estimating and Auditing of Oil and Gas Reserves Information promulgated by the Society of Petroleum Engineers. We maintain an internal staff of petroleum engineers and geoscience professionals who work closely with our independent petroleum consultants to ensure the integrity, accuracy and timeliness of data furnished to independent petroleum consultants for their reserves audit process. Throughout the year, our technical team meets regularly with representatives of each of our independent petroleum consultants to review properties and discuss methods and assumptions. While we have no formal committee specifically designated to review reserves reporting and the reserves estimation process, our senior management reviews and approves any significant changes to our proved reserves. We provide historical information to our consultants for our largest producing properties such as ownership interest; natural gas and oil production; well test data; commodity prices and operating and development costs. The consultants perform an independent analysis and differences are reviewed with our Senior Vice President of Reservoir Engineering and Economics. In some cases, additional meetings are held to review additional reserve work performed by the technical teams related to any identified reserve differences.

Historical variances between our reserve estimates and the aggregate estimates of our consultants have been less than 5%. All of our reserve estimates are reviewed and approved by our Senior Vice President of Reservoir Engineering and Economics, who reports directly to our President and Chief Executive Officer. Mr. Alan Farquharson, our Senior Vice President of Reservoir Engineering and Economics, holds a Bachelor of Science degree in Electrical Engineering from the Pennsylvania State University. Before joining Range, he held various technical and managerial positions with Amoco, Hunt Oil and Union Pacific Resources. During the year, our reserves group may also perform separate, detailed technical reviews of reserve estimates for significant acquisitions or for properties with problematic indicators such as excessively long lives, sudden changes in performance or changes in economic or operating conditions.

The SEC defines proved reserves as those volumes of natural gas, NGLs, crude oil and condensate that geological and engineering data demonstrate with reasonable certainty are recoverable in future years from known reservoirs under existing economic and operating conditions. Proved developed reserves are those proved reserves, which can be expected to be recovered from existing wells with existing equipment and operating methods. Proved undeveloped reserves are volumes expected to be recovered from new wells on undrilled acreage or from existing wells where a relatively major expenditure is required for recompletion. Reserves on undrilled acreage shall be limited to those drilling units offsetting productive units that are reasonably certain of production when drilled. Proved reserves for other undrilled units can be claimed only where it can be demonstrated with certainty that there is continuity of production from the existing productive formation. Proved undeveloped reserves can only be assigned to acreage for which improved recovery technology is contemplated when such techniques have been proven effective by actual tests in the area and in the same reservoir. Undrilled locations can be classified as having undeveloped reserves only if a development plan has been adopted indicating they are scheduled to be drilled within five years, unless specific circumstances, justify a longer time.

The reported value of proved reserves is not necessarily indicative of either fair market value or present value of future net cash flows because prices, costs and governmental policies do not remain static, appropriate discount rates may vary, and extensive judgment is required to estimate the timing of production. Other logical assumptions would likely have resulted in significantly different amounts.

The average realize prices used at December 31, 2012 to estimate reserve information were $86.91 per barrel of oil, $32.23 per barrel of NGLs and $2.75 per mcf for gas, using benchmark (NYMEX) of $95.05 per barrel and $2.76 per MMbtu. The average realized prices used at December 31, 2011 to estimate reserve information were $85.59 per barrel of oil, $49.24 per barrel for NGLs and $3.55 per mcf for gas, using benchmark (NYMEX) of $95.61 per barrel and $4.12 per Mmbtu. The average realized prices used at December 31, 2010 to estimate reserve information were $72.51 per barrel of oil, $39.14 per barrel for NGLs and $3.70 per mcf for gas, using benchmark prices (NYMEX) of $79.81 per barrel and $4.38 per Mmbtu. The average realized prices used to estimate reserves is net of third party transportation, gathering and compression expense.


	Natural Gas			NGLs			Crude Oil			Natural Gas Equivalents ^(a)
	(Mmcf)			(Mbbls)			(Mbbls)			(Mmcfe)
Proved developed and undeveloped reserves:

Balance, December 31, 2009		2,614,717			51,588			34,082			3,128,739
Revisions		3,599			26,832			(2,672	)		148,558
Extensions, discoveries and additions		1,089,632			48,792			4,663			1,410,359
Purchases		124,981			—			—			124,981
Property sales		(124,369	)		—			(10,865	)		(189,558	)
Production		(142,034	)		(4,490	)		(1,969	)		(180,789	)

Balance, December 31, 2010 ^(b)		3,566,526			122,722			23,239			4,442,290
Revisions		73,643			18,627			6,522			224,542
Extensions, discoveries and additions		1,304,324			26,591			4,915			1,493,357
Purchases		—			—			—			—
Property sales		(777,816	)		(19,852	)		(1,176	)		(903,983	)
Production		(157,001	)		(5,573	)		(1,968	)		(202,245	)

Balance, December 31, 2011		4,009,676			142,515			31,532			5,053,961
Revisions		76,925			3,036			2,316			109,036
Extensions, discoveries and additions		996,059			113,392			15,131			1,767,202
Purchases		—			—			—			—
Property sales		(73,429	)		(11,575	)		(1,046	)		(149,153	)
Production		(216,555	)		(6,969	)		(2,851	)		(275,476	)

Balance, December 31, 2012		4,792,676			240,399			45,082			6,505,570

Proved developed reserves:
December 31, 2010		1,762,766			53,071			17,050			2,183,488

December 31, 2011		1,907,209			64,472			17,872			2,401,274

December 31, 2012		2,373,604			154,984			25,667			3,457,502

Proved undeveloped reserves:
December 31, 2010		1,803,760			69,651			6,189			2,258,802

December 31, 2011		2,102,467			78,043			13,660			2,652,687

December 31, 2012		2,419,072			85,415			19,415			3,048,068

^(a)	Oil and NGLs are converted to mcfe at the rate of one barrel equals six mcf based upon the approximate relative energy content of oil to natural gas, which is not necessarily indicative of the relationship of oil and natural gas prices.

^(b)	Total proved reserves at December 31, 2010 includes 906,371 Mmcfe related to discontinued operations of which 408,710 Mmcfe is proved undeveloped.

During 2012, we added approximately 1.8 Tcfe of proved reserves from drilling activities and evaluation of proved areas primarily in the Marcellus Shale. Approximately 56% of the 2012 reserve additions were attributable to natural gas. Also included in 2012 additions is 307 Bcfe of ethane reserves (51.2 Mmbbls) in the Marcellus Shale associated with initial ethane deliveries under contracts commencing in 2013. Revisions of previous estimates of a net 109 Bcfe includes positive performance revisions primarily for our Marcellus Shale natural gas properties partially offset by negative pricing revisions.

During 2011, we added approximately 1.5 Tcfe of proved reserves from drilling activities and evaluations of proved areas, primarily in the Marcellus Shale. Approximately 87% of the 2011 reserve additions were attributable to natural gas. Revisions of previous estimates of 225 Bcfe were primarily positive performance revisions for natural gas properties, primarily in the Marcellus Shale.

During 2010, we added approximately 1.4 Tcfe of proved reserves from drilling activities and evaluations of proved areas primarily in the Marcellus Shale and the Barnett Shale. Approximately 77% of 2010 reserve additions were attributable to natural gas. Revisions of previous estimates of 148.6 Bcfe for the year ended December 31, 2010 included a positive revision of 40.5 Bcfe due to an increase in the average natural gas price used for the December 31, 2010 reserve estimation as compared to the price used in the previous year estimate. Revisions of previous estimates in 2010 also include positive performance revisions for natural gas properties primarily in the Barnett Shale.

The following details the changes in proved undeveloped reserves for 2012 (Mmcfe):


Beginning proved undeveloped reserves at December 31, 2011	2,652,687
Undeveloped reserves transferred to developed	(412,502	)
Revisions	(119,430	)
Purchases/sales	—
Extension and discoveries	927,313

Ending proved undeveloped reserves at December 31, 2012	3,048,068

Approximately $451.9 million was spent during 2012 related to undeveloped reserves that were transferred to developed reserves. Estimated future development costs relating to the development of proved undeveloped reserves are projected to be approximately $453.7 million in 2013, $506.1 million in 2014 and $1.1 billion in 2015. Included in proved undeveloped reserves at December 31, 2012 are approximately 10,888 Mmcfe of reserves (less than 1% of total proved undeveloped reserves) that have been reported for five or more years. All proved undeveloped drilling locations are scheduled to be drilled prior to the end of 2017.

Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves (Unaudited)

The following summarizes the policies we used in the preparation of the accompanying natural gas, NGLs and oil reserve disclosures, standardized measures of discounted future net cash flows from proved natural gas, NGLs and oil reserves and the reconciliations of standardized measures from year to year. The information disclosed is an attempt to present the information in a manner comparable with industry peers.

The information is based on estimates of proved reserves attributable to our interest in natural gas and oil properties as of December 31 of the years presented. These estimates were prepared by our petroleum engineering staff. Proved reserves are estimated quantities of natural gas, NGLs and crude oil, which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions.

The standardized measure of discounted future net cash flows from production of proved reserves was developed as follows:

Estimates are made of quantities of proved reserves and future amounts expected to be produced based on current year-end economic conditions.

For the year ended 2012, 2011 and 2010, estimated future cash inflows are calculated by applying a twelve-month average price of natural gas, NGLs and oil relating to our proved reserves to the quantities of those reserves produced in each future year.

Future cash flows are reduced by estimated production costs, administrative costs, costs to develop and produce the proved reserves and abandonment costs, all based on current year-end economic conditions. Future income tax expenses are based on current year-end statutory tax rates giving effect to the remaining tax basis in the natural gas, NGLs and oil properties, other deductions, credits and allowances relating to our proved natural gas and oil reserves.

The resulting future net cash flows are discounted to present value by applying a discount rate of 10%.

The standardized measure of discounted future net cash flows does not purport, nor should it be interpreted, to present the fair value of our natural gas, NGLs and oil reserves. An estimate of fair value would also take into account, among other things, the recovery of reserves not presently classified as proved, anticipated future changes in prices and costs and a discount factor more representative of the time value of money and the risks inherent in reserve estimates.

The standardized measure of discounted future net cash flows relating to proved natural gas, NGLs and oil reserves is as follows and excludes cash flows associated with derivatives outstanding at each of the respective reporting dates. Future cash inflows are net of third party transportation, gathering and compression expense.


	As of December 31,
	2012			2011
	(in thousands)
Future cash inflows	$	24,851,589		$	23,954,048
Future costs:
Production		(10,028,359	)		(5,113,902	)
Development		(3,667,672	)		(3,230,577	)

Future net cash flows before income taxes		11,155,558			15,609,569
Future income tax expense		(3,081,918	)		(5,040,104	)

Total future net cash flows before 10% discount		8,073,640			10,569,465
10% annual discount		(4,849,835	)		(6,054,568	)

Standardized measure of discounted future net cash flows	$	3,223,805		$	4,514,897

The following table summarizes changes in the standardized measure of discounted future net cash flows.


	As of December 31,
	2012			2011			2010
	(in thousands)
Revisions of previous estimates:
Changes in prices	$	(2,498,616	)	$	422,080		$	957,994
Revisions in quantities		88,190			326,240			190,874
Changes in future development costs		(354,766	)		(346,378	)		(474,058	)
Accretion of discount		608,381			464,735			259,280
Net change in income taxes		832,830			(400,690	)		(666,517	)
Purchases of reserves in place		—			—			160,580
Additions to proved reserves from extensions, discoveries and improved recovery		1,429,340			2,169,706			1,812,077
Production		(976,224	)		(911,873	)		(744,354	)
Development costs incurred during the period		562,329			513,551			298,624
Sales of natural gas and oil		(120,637	)		(1,313,401	)		(243,551	)
Timing and other		(861,919	)		111,801			(162,912	)

Net change for the year		(1,291,092	)		1,035,771			1,388,037
Beginning of year		4,514,897			3,479,126			2,091,089

End of year	$	3,223,805		$	4,514,897		$	3,479,126

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2012

Basis of Presentation and Principles of Consolidation

Basis of Presentation and Principles of Consolidation

Discontinued Operations

Discontinued Operations

Use of Estimates

Use of Estimates

Reclassifications

Reclassifications


	2011		2010
Other revenues, as previously reported	$	3,043	$	70
Revision of brokered natural gas and marketing		11,986		9,761

Brokered natural gas, marketing and other revenue, reported	$	15,029	$	9,831


Brokered natural gas and marketing expenses, previously reported	$	—	$	—
Revision of brokered natural gas and marketing expenses		11,986		9,761

Brokered natural gas and marketing expenses, reported	$	11,986	$	9,761

Business Segment Information

Business Segment Information

Revenue Recognition, Accounts Receivable and Gas Imbalances

Revenue Recognition, Accounts Receivable and Gas Imbalances

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and on deposit and investments in highly liquid debt instruments with maturities of three months or less.

Marketable Securities

Marketable Securities

Inventory

Inventory

Natural Gas and Oil Properties

Natural Gas and Oil Properties

Property Acquisition Costs

Depreciation, Depletion and Amortization

Impairments

Dispositions

Transportation and Field Assets

Transportation and Field Assets

Other Assets

Other Assets

Accounts Payable

Accounts Payable

Stock-based Compensation Arrangements

Stock-based Compensation Arrangements

Derivative Financial Instruments and Hedging

Derivative Financial Instruments and Hedging

Concentrations of Credit Risk

Concentrations of Credit Risk

Asset Retirement Obligations

Asset Retirement Obligations

Environmental Costs

Environmental Costs

Deferred Taxes

Deferred Taxes

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income


	Gross			Tax Effect			Net of Tax
Accumulated other comprehensive income at December 31, 2009	$	10,192		$	(3,771	)	$	6,421
Contract settlements reclassified to income		(64,772	)		24,841			(39,931	)
Change in unrealized deferred hedging gains		165,642			(64,662	)		100,980

Accumulated other comprehensive income at December 31, 2010		111,062			(43,592	)		67,470
Contract settlements reclassified to income		(132,201	)		50,005			(82,196	)
Change in unrealized deferred hedging gains		275,817			(104,464	)		171,353

Accumulated other comprehensive income at December 31, 2011		254,678			(98,051	)		156,627
Contract settlements reclassified to income		(236,305	)		91,871			(144,434	)
Change in unrealized deferred hedging gains		119,182			(47,466	)		71,716

Accumulated other comprehensive income at December 31, 2012	$	137,555		$	(53,646	)	$	83,909

Recently Adopted

Accounting Pronouncements Implemented

Recently Adopted

Accounting Pronouncements Not Yet Adopted

Accounting Pronouncements Not Yet Adopted

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Revision on Natural gas, NGL and Oil Sales, Reported


	2011		2010
Other revenues, as previously reported	$	3,043	$	70
Revision of brokered natural gas and marketing		11,986		9,761

Brokered natural gas, marketing and other revenue, reported	$	15,029	$	9,831


Brokered natural gas and marketing expenses, previously reported	$	—	$	—
Revision of brokered natural gas and marketing expenses		11,986		9,761

Brokered natural gas and marketing expenses, reported	$	11,986	$	9,761

Accumulated Other Comprehensive Income

Amounts included in AOCI exclusively relate to our derivative activity (in thousands).


	Gross			Tax Effect			Net of Tax
Accumulated other comprehensive income at December 31, 2009	$	10,192		$	(3,771	)	$	6,421
Contract settlements reclassified to income		(64,772	)		24,841			(39,931	)
Change in unrealized deferred hedging gains		165,642			(64,662	)		100,980

Accumulated other comprehensive income at December 31, 2010		111,062			(43,592	)		67,470
Contract settlements reclassified to income		(132,201	)		50,005			(82,196	)
Change in unrealized deferred hedging gains		275,817			(104,464	)		171,353

Accumulated other comprehensive income at December 31, 2011		254,678			(98,051	)		156,627
Contract settlements reclassified to income		(236,305	)		91,871			(144,434	)
Change in unrealized deferred hedging gains		119,182			(47,466	)		71,716

Accumulated other comprehensive income at December 31, 2012	$	137,555		$	(53,646	)	$	83,909

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2012

Components of Discontinued Operations

The following table represents the components of our Barnett Shale operations as discontinued operations for the years ended December 31, 2011 and 2010 (in thousands).


	Year Ended December 31,
	2011		2010
Revenues and other income:
Natural gas, NGLs and oil sales	$	59,185	$	157,778
Gain on the sale of assets		4,771		955
Other		10		67

Total revenues and other income		63,966		158,800

Costs and expenses:
Direct operating		10,080		35,328
Transportation, gathering and compression		5,257		8,624
Production and ad valorem taxes		1,309		7,545
Exploration		37		581
Abandonment and impairment of unproved properties		—		20,233
Interest expense ^(a)		14,791		40,527
Depletion, depreciation and amortization		8,894		88,269
Impairment of proved properties		—		463,244

Total costs and expenses		40,368		664,351

Income (loss) before income taxes		23,598		(505,551	)

Income tax expense (benefit)
Current		—		—
Deferred		8,278		(177,597	)

		8,278		(177,597	)

Net income (loss) from discontinued operations	$	15,320	$	(327,954	)

^(a)	Interest expense is allocated to discontinued operations based on the ratio of net assets of discontinued operations to our consolidated net assets plus long-term debt.

Composition of Assets and Liabilities of Discontinued

The carrying values of our Barnett operations were included in discontinued operations in the accompanying consolidated balance sheets, which is comprised of the following (in thousands):


	December 31, 2011
Composition of liabilities of discontinued operations:
Accrued liabilities	$	653

Total current liabilities of discontinued operations	$	653

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax

Reconciliation between the statutory federal income tax rate and our effective income tax rate is as follows:


	Year Ended December 31,
	2012			2011			2010
Federal statutory tax rate		35.0	%		35.0	%		35.0	%
State		0.7			7.0			(0.2	)
Non-deductible executive compensation		1.4			3.5			0.2
Valuation allowance		8.8			(0.4	)		1.4
Other		2.2			0.3			0.1

Consolidated effective tax rate		48.1	%		45.4	%		36.5	%

Income Tax Provision (Benefit) Attributable to Income from Continuing Operations

Income tax provision (benefit) attributable to income from continuing operations before income taxes consists of the following (in thousands):


	2012							2011						2010
	Current			Deferred		Total		Current		Deferred		Total		Current			Deferred		Total
U.S. federal	$	—		$	11,873	$	11,873	$	—	$	30,055	$	30,055	$	—		$	51,280	$	51,280
U.S. state and local		(1,778	)		1,959		181		637		4,865		5,502		(836	)		466		(370	)

Total	$	(1,778	)	$	13,832	$	12,054	$	637	$	34,920	$	35,557	$	(836	)	$	51,746	$	50,910

Significant Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows:


	December 31,
	2012			2011
	(in thousands)
Deferred tax assets:
Current
Deferred compensation	$	6,192		$	8,607
Current portion of asset retirement obligation		961			2,011
Other		8,896			1,423

Total current		16,049			12,041

Non-current
Net operating loss carryforward		56,402			63,568
Deferred compensation		72,904			64,176
Equity compensation		23,363			20,576
AMT credits and other credits		2,761			3,505
Non-current portion of asset retirement obligation		56,764			30,358
Cumulative unrealized mark-to-market (gain) loss		(262	)		2,373
Other		1,379			1,500
Valuation allowance		(9,052	)		(4,534	)

Total non-current		204,259			181,522

Deferred tax liabilities:
Current
Net unrealized gain in AOCI related to hedge derivatives		(49,124	)		(68,636	)
Other		(2,004	)		—
Cumulative unrealized mark-to-market gain		(2,845	)		—

Total current		(53,973	)		(68,636	)

Non-current
Depreciation, depletion and investments		(894,031	)		(862,597	)
Net unrealized gain in AOCI related to hedge derivatives		(4,522	)		(29,415	)
Other		(4,008	)		—

Total non-current		(902,561	)		(892,012	)

Net deferred tax liability	$	(736,226	)	$	(767,085	)

INCOME (LOSS) PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2012

Computations of Basic and Diluted (Loss) Income Per Common Share

The following table sets forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders and to diluted income or loss attributable to common shareholders (in thousands except per share amounts):


	Year Ended December 31, 2012								Year Ended December 31, 2011									Year Ended December 31, 2010
	Continuing Operations			Discontinued Operations		Total			Continuing Operations			Discontinued Operations			Total			Continuing Operations			Discontinued Operations			Total
Income (loss) as reported	$	13,002		$	—	$	13,002		$	42,706		$	15,320		$	58,026		$	88,698		$	(327,954	)	$	(239,256	)
Participating basic earnings ^(a)		(460	)		—		(460	)		(763	)		(274	)		(1,037	)		(1,574	)		1,120			(454	)

Basic income (loss) attributed to common shareholders		12,542			—		12,542			41,943			15,046			56,989			87,124			(326,834	)		(239,710	)
Reallocation of participating earnings ^(a)		—			—		—			3			2			5			11			(11	)		—

Diluted income (loss) attributed to common shareholders	$	12,542		$	—	$	12,542		$	41,946		$	15,048		$	56,994		$	87,135		$	(326,845	)	$	(239,710	)

Income (loss) per common share:
Basic	$	0.08		$	—	$	0.08		$	0.26		$	0.10		$	0.36		$	0.56		$	(2.09	)	$	(1.53	)
Diluted	$	0.08		$	—	$	0.08		$	0.26		$	0.10		$	0.36		$	0.55		$	(2.07	)	$	(1.52	)

^(a)

Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Common Shares Outstanding

The following table provides a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):


	Year Ended December 31,
	2012		2011		2010
Denominator:
Weighted average common shares outstanding – basic		159,431		158,030		156,874
Effect of dilutive securities:
Director and employee stock options and SARs		876		1,411		1,554

Weighted average common shares outstanding – diluted		160,307		159,441		158,428

SUSPENDED EXPLORATORY WELL COSTS (Tables)

12 Months Ended

Dec. 31, 2012

Suspended Exploratory Well Costs

consolidated statements of operations. The following table reflects the changes in capitalized exploratory well costs for the year ended December 31, 2012, 2011 and 2010 (in thousands except for number of projects):


	2012			2011			2010
Balance at beginning of period	$	93,388		$	23,908		$	19,052
Additions to capitalized exploratory well costs pending the determination of proved reserves		153,250			86,996			28,897
Reclassifications to wells, facilities and equipment based on determination of proved reserves		(184,298	)		(17,516	)		(24,041	)
Divested wells		(4,980	)		—			—
Capitalized exploratory well costs charged to expense		—			—			—

Balance at end of period		57,360			93,388			23,908
Less exploratory well costs that have been capitalized for a period of one year or less		(45,965	)		(83,860	)		(13,181	)

Capitalized exploratory well costs that have been capitalized for a period greater than one year	$	11,395		$	9,528		$	10,727

Number of projects that have exploratory well costs that have been capitalized for a period greater than one year		5			3			4

Aging of Capitalized Exploratory Well Costs Suspended more than One Year

are in our Marcellus Shale area. The following table provides an aging of capitalized exploratory well costs that have been suspended for more than one year as of December 31, 2012 (in thousands):


	Total		2012		2011		2010		2009		2008
Capitalized exploratory well costs that have been capitalized for more than one year	$	11,395	$	970	$	5,946	$	72	$	2,884	$	1,523

INDEBTEDNESS (Tables)

12 Months Ended

Dec. 31, 2012

Debt Outstanding


	December 31,
	2012		2011
Bank debt (2.2%)	$	739,000	$	187,000

Senior subordinated notes:
7.5% senior subordinated notes due 2017		—		250,000
7.25% senior subordinated notes due 2018		250,000		250,000
8.00% senior subordinated notes due 2019, net of $10,815 and $12,033 discount, respectively		289,185		287,967
6.75% senior subordinated notes due 2020		500,000		500,000
5.75% senior subordinated notes due 2021		500,000		500,000
5.00% senior subordinated notes due 2022		600,000		—

Total debt	$	2,878,185	$	1,974,967

Schedule for Long-Term Debt Outstanding

Following is the principal maturity schedule for our long-term debt outstanding as of December 31, 2012 (in thousands):


	Year Ended December 31,
2013	$	—
2014		—
2015		—
2016		739,000
2017		—
2018		250,000
Thereafter		1,889,185

	$	2,878,185

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

ASSET RETIREMENT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2012

Asset Retirement Obligations

A reconciliation of our liability for plugging and abandonment costs for the years ended December 31, 2012 and 2011 is as follows (in thousands):


	2012			2011
Beginning of period	$	84,810		$	60,693
Liabilities incurred		9,802			3,265
Liabilities settled		(3,649	)		(4,717	)
Disposition of wells		(1,457	)		(716	)
Accretion expense		8,793			5,488
Change in estimate		48,179			20,797

End of period		146,478			84,810

Less current portion		(2,470	)		(5,005	)

Long-term asset retirement obligations – continuing operations	$	144,008		$	79,805

CAPITAL STOCK (Tables)

12 Months Ended

Dec. 31, 2012

Capital Stock

The following is a schedule of changes in the number of common shares outstanding since the beginning of 2010:


	Year Ended December 31,
	2012		2011		2010
Beginning balance		161,131,547		159,909,052		158,118,937
Stock options/SARs exercised		926,425		862,774		991,988
Restricted stock grants		354,674		326,591		405,127
Restricted stock units vested		57,824		—		—
Issued for acreage purchases		—		—		380,229
Treasury shares		43,628		33,130		12,771

Ending balance		162,514,098		161,131,547		159,909,052

DERIVATIVE ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2012

Derivative Volumes Hedged and Average Hedge Prices

December 31, 2012. These contracts expire monthly through December 2014. The following table sets forth the derivative volumes by year as of December 31, 2012.


Period	Contract Type	Volume Hedged	Weighted Average Hedge Price
Natural Gas
2013	Collars	280,000 Mmbtu/day	$4.59–$ 5.05
2014	Collars	385,000 Mmbtu/day	$3.80–$ 4.48
2013	Swaps	213,384 Mmbtu/day	$3.64

Crude Oil
2013	Collars	3,000 bbls/day	$90.60–$ 100.00
2014	Collars	2,000 bbls/day	$85.55–$ 100.00
2013	Swaps	5,081 bbls/day	$96.59
2014	Swaps	4,000 bbls/day	$94.56

NGLs (Natural Gasoline)
2013	Sold Swaps	8,000 bbls/day	$89.64
2013	Re-purchased Swaps	1,500 bbls/day	$76.30

NGLs (Propane)
2013	Swaps	5,000 bbls/day	$35.55

Derivative Fair Value Income

The following table presents information about the components of derivative fair value income in the three-year period ended December 31, 2012 (in thousands):


	2012			2011			2010
Change in fair value of derivatives that do not qualify for hedge accounting ^(a)	$	5,958		$	15,762		$	(2,086	)
Realized gain (loss) on settlement–natural gas ^(a) ^(b)		131			14,743			35,988
Realized gain (loss) on settlement–oil ^(a) (b)		2,486			(9,574	)		—
Realized gain (loss) on settlement–NGLs ^(a) (b)		31,737			9,612			—
Realized gain on early settlement of oil derivatives		—			—			15,697
Hedge ineffectiveness–realized		4,346			7,361			(352	)
–unrealized		(3,221	)		2,183			2,387

Derivative fair value income	$	41,437		$	40,087		$	51,634

^(a)	Derivatives that do not qualify for hedge accounting.

^(b)	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 the change in fair value of derivatives that do not qualify for hedge accounting.

Combined Fair Value of Derivatives, by Consolidated Balance Sheets

The assets and liabilities are netted where derivatives with both gain and loss positions are held by a single counterparty and we have master netting arrangements.


	December 31,
	2012			2011
Derivative assets:
Natural gas–swaps	$	7,504		$	54,162
–collars		122,255			228,228
–basis swaps		993			—
Crude oil–swaps		9,650			(263	)
–collars		2,222			(16,607	)
–call options		—			(29,348	)
NGLs–C5 swaps		10,643			15,328

	$	153,267		$	251,500

Derivative liabilities:
Natural gas–collars	$	(3,463	)	$	—
NGLs–C5 swaps		2,275			(173	)
–C3 swaps		(6,746	)		—

	$	(7,934	)	$	(173	)

Fair Value of Derivative Contracts by Consolidated Balance Sheets


	December 31, 2012								December 31, 2011
	Assets		(Liabilities)						Assets		(Liabilities)
	Carrying Value		Carrying Value			Net Carrying Value			Carrying Value		Carrying Value			Net Carrying Value
Derivatives that qualify for cash flow hedge accounting :
Swaps ^(a)	$	22,236	$	(3,242	)	$	18,994		$	54,318	$	(419	)	$	53,899
Collars ^(a)		129,878		(9,721	)		120,157			228,228		(1,954	)		226,274

	$	152,114	$	(12,963	)	$	139,151		$	282,546	$	(2,373	)	$	280,173

Derivatives that do not qualify for hedge accounting :
Sold swaps ^(a)	$	7,316	$	(8,904	)	$	(1,588	)	$	17,949	$	(2,794	)	$	15,155
Re-purchased swaps ^(a)		5,920		—			5,920			—		—			—
Collars ^(a)		857		—			857			—		(14,653	)		(14,653	)
Call options ^(a)		—		—			—			—		(29,348	)		(29,348	)
Basis swaps ^(a)		993		—			993			—		—			—

	$	15,086	$	(8,904	)	$	6,182		$	17,949	$	(46,795	)	$	(28,846	)

^(a)	Included in unrealized derivative gain or loss in the accompanying consolidated balance sheets.

Effects of Cash Flow Hedges and Other Hedges on Accumulated Other Comprehensive Income


	Year Ended December 31,
	Change in Hedge Derivative Fair Value						Realized Gain Reclassified from OCI into Revenue ^(a)
	2012			2011			2012			2011
Swaps	$	46,371		$	51,997		$	78,779		$	—
Put options		(1,955	)		—			(1,955	)		—
Collars		74,766			223,408			159,481			123,594
Collars – discontinued operations		—			412			—			8,607
Income taxes		(47,466	)		(104,464	)		(91,871	)		(50,005	)

	$	71,716		$	171,353		$	144,434		$	82,196

^(a)	For realized gains upon contract settlement, the reduction in AOCI is offset by an increase in natural gas, NGLs and oil sales. For realized losses upon contract settlement, the increase in AOCI is offset by a decrease in natural gas, NGLs and oil sales.

Effects of Non-Hedge Derivatives on Consolidated Statements of Operations


	Year Ended December 31,
	Gain (Loss) Recognized in Income (Non-hedge Derivatives)									Gain (Loss) Recognized in Income (Ineffective Portion)							Derivative Fair Value Income
	2012			2011			2010			2012			2011		2010		2012			2011			2010
Swaps	$	11,601		$	24,767		$	—		$	(657	)	$	767	$	—	$	10,944		$	25,534		$	—
Re-purchased swaps		9,313			—			—			—			—		—		9,313			—			—
Collars		5,126			5,266			65,996			1,782			8,777		2,035		6,908			14,043			68,031
Call options		13,178			553			(15,895	)		—			—		—		13,178			553			(15,895	)
Put options		(30	)		—			—			—			—		—		(30	)		—			—
Basis swaps		1,124			(43	)		(502	)		—			—		—		1,124			(43	)		(502	)

Total	$	40,312		$	30,543		$	49,599		$	1,125		$	9,544	$	2,035	$	41,437		$	40,087		$	51,634

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41678-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

+ Details

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2012

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

The following tables present the fair value hierarchy table for assets and liabilities measured at fair value, on a recurring basis (in thousands):


	Fair Value Measurements at December 31, 2012 Using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Carrying Value as of December 31, 2012
Trading securities held in the deferred compensation plans	$	57,776	$	—	$	—	$	57,776
Derivatives–swaps		—		23,326		—		23,326
–collars		—		121,014		—		121,014
–basis swaps		—		993		—		993


	Fair Value Measurements at December 31, 2011 Using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Carrying Value as of December 31, 2011
Trading securities held in the deferred compensation plans	$	50,237	$	—		$	—	$	50,237
Derivatives–swaps		—		69,054			—		69,054
–collars		—		211,621			—		211,621
–call options		—		(29,348	)		—		(29,348	)

Value of Assets Measured at Fair Value on Non Recurring Basis

The following table presents the value of these assets measured at fair value on a nonrecurring basis (in thousands):


	Year Ended December 31,
	2012				2011				2010
	Fair Value		Impairment		Fair Value		Impairment		Fair Value		Impairment
Natural gas and oil properties – continuing operations	$	12,604	$	34,273	$	24,388	$	38,681	$	16,075	$	6,505
Natural gas and oil properties – discontinued operations		—		—		—		—		835,913		463,244
Surface property		6,269		1,281		—		—		—		—

Carrying Amounts and Fair Values of Financial Instruments

The following table presents the carrying amounts and the fair values of our financial instruments as of December 31, 2012 and 2011 (in thousands):


	December 31, 2012						December 31, 2011
	Carrying Value			Fair Value			Carrying Value			Fair Value
Assets:
Commodity swaps, collars, basis swaps, call and put options	$	153,267		$	153,267		$	251,500		$	251,500
Marketable securities^(a)		57,776			57,776			50,237			50,237
Liabilities:
Commodity swaps, collars and call options		(7,934	)		(7,934	)		(173	)		(173	)
Bank credit facility^(b)		(739,000	)		(739,000	)		(187,000	)		(187,000	)
Deferred compensation plan^(c)		(187,604	)		(187,604	)		(169,188	)		(169,188	)
7.5% senior subordinated notes due 2017^(b)		—			—			(250,000	)		(265,625	)
7.25% senior subordinated notes due 2018^(b)		(250,000	)		(262,500	)		(250,000	)		(267,500	)
8.00% senior subordinated notes due 2019^(b)		(289,185	)		(332,250	)		(287,967	)		(334,500	)
6.75% senior subordinated notes due 2020^(b)		(500,000	)		(542,500	)		(500,000	)		(555,000	)
5.75% senior subordinated notes due 2021^(b)		(500,000	)		(535,000	)		(500,000	)		(541,250	)
5.00% senior subordinated notes due 2022^(b)		(600,000	)		(627,000	)		—			—

^(a)	Marketable securities are held in our deferred compensation plans that are actively traded on major exchanges.

^(b)	The book value of our bank debt approximates fair value because of its floating rate structure. The fair value of our senior subordinated notes is based on end of period market quotes, which are Level 2 inputs.

^(c)	The fair value of our deferred compensation plan is updated based on the closing price on the balance sheet date.

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 19
-Subparagraph a, b, c(1), d(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 14
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15
-Subparagraph b-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 18
-Subparagraph c(2), d, e, f
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-Subparagraph a, c(1), c(2), c(3), d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2012

Stock Option and SARs Activities

Information with respect to stock option and SARs activities is summarized below.


	Shares			Weighted Average Exercise Price
Outstanding at December 31, 2009		7,154,712		$	31.38
Granted		1,394,136			46.09
Exercised		(1,883,091	)		20.49
Expired/forfeited		(203,918	)		48.18

Outstanding at December 31, 2010		6,461,839			37.20
Granted		843,485			51.17
Exercised		(2,511,989	)		32.69
Expired/forfeited		(234,726	)		52.65

Outstanding at December 31, 2011		4,558,609			41.47
Granted		754,471			64.14
Exercised		(1,860,367	)		30.20
Expired/forfeited		(19,351	)		48.00

Outstanding at December 31, 2012		3,433,362		$	52.52

Outstanding Stock Options and SARs

The following table shows information with respect to stock options and SARs outstanding and exercisable at December 31, 2012:


	Outstanding						Exercisable
Range of Exercise Prices	Shares		Weighted Average Remaining Contractual Life (in years)		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
$1.29–$ 9.99		17,015		0.67	$	2.36		17,015	$	2.36
10.00–19.99		15,435		2.73		19.63		15,435		19.63
20.00–29.99		—		—		—		—		—
30.00–39.99		226,838		1.19		34.30		223,458		34.23
40.00–49.99		1,543,269		2.15		45.38		903,347		44.22
50.00–59.99		534,922		3.09		52.86		222,686		53.59
60.00–69.99		767,013		4.01		64.17		96,534		64.57
70.00–75.00		328,870		0.35		75.00		328,870		75.00

Total		3,433,362		2.47	$	52.52		1,807,345	$	50.22

Weighted Average Grant Date Fair Value of SARs


	2012			2011			2010
Weighted average exercise price per share	$	64.14		$	51.17		$	46.09
Expected annual dividends per share		0.25	%		0.31	%		0.35	%
Expected life in years		3.7			3.7			3.6
Expected volatility		45	%		47	%		49	%
Risk-free interest rate		0.5	%		1.4	%		1.6	%
Weighted average grant date fair value	$	21.32		$	18.22		$	17.01

Restricted Stock and Restricted Stock Units Outstanding

A summary of the status of our non-vested restricted stock outstanding at December 31, 2012 is summarized below:


	Equity Awards					Liability Awards
	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2009		—		$	—		627,189		$	45.64
Granted		—			—		413,422			45.83
Vested		—			—		(439,361	)		46.90
Forfeited		—			—		(18,499	)		46.04

Outstanding at December 31, 2010		—			—		582,751			44.81
Granted		331,209			49.56		352,419			51.17
Vested		(88,854	)		49.37		(418,634	)		45.55
Forfeited		(20,746	)		49.45		(29,292	)		45.04

Outstanding at December 31, 2011		221,609			49.64		487,244			48.76
Granted		364,082			63.44		380,808			64.06
Vested		(208,802	)		56.73		(438,283	)		52.17
Forfeited		(27,733	)		58.65		(6,291	)		54.54

Outstanding at December 31, 2012		349,156		$	59.08		423,478		$	58.91

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

12 Months Ended

Dec. 31, 2012

Supplemental Cash Flow Information


	Year Ended December 31,
	2012		2011		2010
	(in thousands)
Net cash provided from operating activities included:
Income taxes paid (refunded from) to taxing authorities	$	386	$	675	$	(1,359	)
Interest paid		153,249		133,103		116,766

Non-cash investing and financing activities included:
Asset retirement costs (removed) capitalized, net		57,982		24,061		(6,370	)
Unproved property purchased with stock		—		—		20,000

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2012

Future Minimum Rental Commitments

Future minimum rental commitments under non-cancelable leases having remaining lease terms in excess of one year are as follows (in thousands):


	Operating Lease Obligations
2013	$	13,497
2014		13,645
2015		13,363
2016		10,090
2017		5,923
Thereafter		21,628

	$	78,146

Schedule of Future Minimum Transportation and Gathering Fees

As of December 31, 2012, future minimum transportation and gathering fees under our commitments are as follows (in thousands):


	Transportation and Gathering Contracts
2013	$	184,802
2014		177,027
2015		182,884
2016		185,709
2017		181,995
Thereafter		825,717

	$	1,738,134

Future Delivery Commitments

As of December 31, 2012, our delivery commitments through 2017 were as follows:


Year Ending December 31,	Natural Gas and Ethane (mcfe per day)
2013		196,532
2014		203,123
2015		147,263
2016		102,318
2017		52,055

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References + Details

OFFICE CLOSING AND EXIT ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2012

Exit Activities Included in Accrued Liabilities in Consolidated Balance Sheet


	2012			2011			2010
Beginning balance	$	52		$	1,092		$	1,568
Accrued one-time termination costs		—			—			5,138
Office lease		—			—			514
Payments		(52	)		(1,040	)		(6,128	)

Ending balance	$	—		$	52		$	1,092

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2012

Selected Quarterly Financial Data


	2012
	March			June			September			December			Total
Revenues and other income:
Natural gas, NGLs and oil sales	$	317,617		$	298,349		$	337,040		$	398,688		$	1,351,694
Derivative fair value (loss) income		(60,833	)		148,569			(40,728	)		(5,571	)		41,437
(Loss) gain on the sale of assets		(10,426	)		(3,227	)		949			61,836			49,132
Brokered natural gas, marketing and other		4,597			5,240			2,519			3,085			15,441

Total revenue and other income		250,955			448,931			299,780			458,038			1,457,704

Costs and expenses:
Direct operating		29,022			27,041			29,628			30,214			115,905
Transportation, gathering and compression		40,820			44,744			51,600			55,281			192,445
Production and ad valorem taxes		36,634			11,786			8,819			9,881			67,120
Brokered natural gas marketing		4,062			6,491			4,887			4,994			20,434
Exploration		21,516			15,517			14,752			18,022			69,807
Abandonment and impairment of unproved properties		20,289			43,641			40,118			21,230			125,278
General and administrative		38,729			44,005			44,497			46,582			173,813
Deferred compensation plan		(7,830	)		9,333			20,052			(14,352	)		7,203
Interest expense		37,205			42,888			43,997			44,708			168,798
Loss on early extinguishment of debt		—			—			—			11,063			11,063
Depletion, depreciation and amortization		100,151			108,802			123,059			113,216			445,228
Impairment of proved properties and other		—			—			1,281			34,273			35,554

Total costs and expenses		320,598			354,248			382,690			375,112			1,432,648

(Loss) income from continuing operations before income taxes		(69,643	)		94,683			(82,910	)		82,926			25,056

Income tax (benefit) expense
Current		—			—			—			(1,778	)		(1,778	)
Deferred		(27,843	)		39,007			(29,074	)		31,742			13,832

		(27,843	)		39,007			(29,074	)		29,964			12,054

Net (loss) income	$	(41,800	)	$	55,676		$	(53,836	)	$	52,962		$	13,002

(Loss) income per common share:
Basic	$	(0.26	)	$	0.34		$	(0.34	)	$	0.33		$	0.08
Diluted	$	(0.26	)	$	0.34		$	(0.34	)	$	0.32		$	0.08


	2011
	March			June			September			December			Total
Revenues and other income:
Natural gas, NGLs and oil sales	$	251,963		$	285,353		$	304,230		$	331,720		$	1,173,266
Derivative fair value (loss) income		(40,834	)		53,039			65,761			(37,879	)		40,087
Gain (loss) on the sale of assets		139			(1,622	)		203			3,540			2,260
Brokered natural gas, marketing and other		3,911			1,506			3,775			5,837			15,029

Total revenue and other income		215,179			338,276			373,969			303,218			1,230,642

Costs and expenses:
Direct operating		28,717			28,509			29,828			25,918			112,972
Transportation, gathering and compression		25,082			28,666			32,431			34,576			120,755
Production and ad valorem taxes		6,879			7,550			7,317			5,920			27,666
Brokered natural gas and marketing		2,521			2,981			3,333			3,151			11,986
Exploration		27,187			11,592			17,606			24,982			81,367
Abandonment and impairment of unproved properties		16,537			18,900			16,627			27,639			79,703
General and administrative		33,959			39,120			35,907			42,205			151,191
Deferred compensation plan		30,630			(5,778	)		8,717			9,640			43,209
Interest expense		24,779			31,383			34,181			34,709			125,052
Loss on early extinguishment of debt		—			18,580			(4	)		—			18,576
Depletion, depreciation and amortization		72,216			78,294			93,619			97,092			341,221
Impairment of proved properties		—			—			38,681			—			38,681

Total costs and expenses		268,507			259,797			318,243			305,832			1,152,379

(Loss) income from continuing operations before income taxes		(53,328	)		78,479			55,726			(2,614	)		78,263

Income tax (benefit) expense
Current		—			8			(7	)		636			637
Deferred		(19,897	)		32,695			22,547			(425	)		34,920

		(19,897	)		32,703			22,540			211			35,557

(Loss) income from continuing operations		(33,431	)		45,776			33,186			(2,825	)		42,706
Discontinued operations, net of taxes		8,398			5,517			1,569			(164	)		15,320

Net (loss) income	$	(25,033	)	$	51,293		$	34,755		$	(2,989	)	$	58,026

(Loss) income per common share:
Basic-(loss) income from continuing operations	$	(0.21	)	$	0.28		$	0.21		$	(0.02	)	$	0.26
-discontinued operations		0.05			0.04			0.01			—			0.10

-net (loss) income	$	(0.16	)	$	0.32		$	0.22		$	(0.02	)	$	0.36

Diluted-(loss) income from continuing operations	$	(0.21	)	$	0.28		$	0.20		$	(0.02	)	$	0.26
-discontinued operations		0.05			0.04			0.01			—			0.10

-net (loss) income	$	(0.16	)	$	0.32		$	0.21		$	(0.02	)	$	0.36

SUPPLEMENTAL INFORMATION ON NATURAL GAS AND OIL EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2012

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization ^(a)


	December 31,
	2012			2011			2010
	(in thousands)
Natural gas and oil properties:
Properties subject to depletion	$	7,368,308		$	6,035,429		$	4,742,248
Unproved properties		743,467			748,598			648,143

Total		8,111,775			6,784,027			5,390,391
Accumulated depreciation, depletion and amortization		(2,015,591	)		(1,626,461	)		(1,306,378	)

Net capitalized costs	$	6,096,184		$	5,157,566		$	4,084,013

^(a)	Includes capitalized asset retirement costs and the associated accumulated amortization.

Costs Incurred for Property Acquisition, Exploration and Development

Costs Incurred for Property Acquisition, Exploration and Development ^(a)


	Year Ended December 31,
	2012		2011		2010
	(in thousands)
Acquisitions:
Unproved leasehold	$	—	$	—	$	3,697
Proved oil and gas properties		—		—		130,767
Asset retirement obligations		—		—		556
Acreage purchases		188,843		220,576		151,572
Development		1,049,129		1,007,049		727,720
Exploration:
Drilling		309,816		226,920		50,433
Expense		65,758		77,259		56,298
Stock-based compensation expense		4,049		4,108		4,209
Gas gathering facilities:
Development		41,035		53,387		19,627

Subtotal		1,658,630		1,589,299		1,144,879
Asset retirement obligations		57,982		24,061		(6,370	)

Total – continuing operations		1,716,612		1,613,360		1,138,509
Discontinued operations		—		3,241		73,369

Total costs incurred	$	1,716,612	$	1,616,601	$	1,211,878

^(a)	Includes cost incurred whether capitalized or expensed.

Proved Developed and Undeveloped Reserves


	Natural Gas			NGLs			Crude Oil			Natural Gas Equivalents ^(a)
	(Mmcf)			(Mbbls)			(Mbbls)			(Mmcfe)
Proved developed and undeveloped reserves:

Balance, December 31, 2009		2,614,717			51,588			34,082			3,128,739
Revisions		3,599			26,832			(2,672	)		148,558
Extensions, discoveries and additions		1,089,632			48,792			4,663			1,410,359
Purchases		124,981			—			—			124,981
Property sales		(124,369	)		—			(10,865	)		(189,558	)
Production		(142,034	)		(4,490	)		(1,969	)		(180,789	)

Balance, December 31, 2010 ^(b)		3,566,526			122,722			23,239			4,442,290
Revisions		73,643			18,627			6,522			224,542
Extensions, discoveries and additions		1,304,324			26,591			4,915			1,493,357
Purchases		—			—			—			—
Property sales		(777,816	)		(19,852	)		(1,176	)		(903,983	)
Production		(157,001	)		(5,573	)		(1,968	)		(202,245	)

Balance, December 31, 2011		4,009,676			142,515			31,532			5,053,961
Revisions		76,925			3,036			2,316			109,036
Extensions, discoveries and additions		996,059			113,392			15,131			1,767,202
Purchases		—			—			—			—
Property sales		(73,429	)		(11,575	)		(1,046	)		(149,153	)
Production		(216,555	)		(6,969	)		(2,851	)		(275,476	)

Balance, December 31, 2012		4,792,676			240,399			45,082			6,505,570

Proved developed reserves:
December 31, 2010		1,762,766			53,071			17,050			2,183,488

December 31, 2011		1,907,209			64,472			17,872			2,401,274

December 31, 2012		2,373,604			154,984			25,667			3,457,502

Proved undeveloped reserves:
December 31, 2010		1,803,760			69,651			6,189			2,258,802

December 31, 2011		2,102,467			78,043			13,660			2,652,687

December 31, 2012		2,419,072			85,415			19,415			3,048,068

^(a)	Oil and NGLs are converted to mcfe at the rate of one barrel equals six mcf based upon the approximate relative energy content of oil to natural gas, which is not necessarily indicative of the relationship of oil and natural gas prices.

^(b)	Total proved reserves at December 31, 2010 includes 906,371 Mmcfe related to discontinued operations of which 408,710 Mmcfe is proved undeveloped.

Changes in Proved Undeveloped Reserves for 2012 (Mmcfe)

The following details the changes in proved undeveloped reserves for 2012 (Mmcfe):


Beginning proved undeveloped reserves at December 31, 2011	2,652,687
Undeveloped reserves transferred to developed	(412,502	)
Revisions	(119,430	)
Purchases/sales	—
Extension and discoveries	927,313

Ending proved undeveloped reserves at December 31, 2012	3,048,068

Standardized Measure of Discounted Future Net Cash Flows

Future cash inflows are net of third party transportation, gathering and compression expense.


	As of December 31,
	2012			2011
	(in thousands)
Future cash inflows	$	24,851,589		$	23,954,048
Future costs:
Production		(10,028,359	)		(5,113,902	)
Development		(3,667,672	)		(3,230,577	)

Future net cash flows before income taxes		11,155,558			15,609,569
Future income tax expense		(3,081,918	)		(5,040,104	)

Total future net cash flows before 10% discount		8,073,640			10,569,465
10% annual discount		(4,849,835	)		(6,054,568	)

Standardized measure of discounted future net cash flows	$	3,223,805		$	4,514,897

Changes in Discounted Future Net Cash Flows

The following table summarizes changes in the standardized measure of discounted future net cash flows.


	As of December 31,
	2012			2011			2010
	(in thousands)
Revisions of previous estimates:
Changes in prices	$	(2,498,616	)	$	422,080		$	957,994
Revisions in quantities		88,190			326,240			190,874
Changes in future development costs		(354,766	)		(346,378	)		(474,058	)
Accretion of discount		608,381			464,735			259,280
Net change in income taxes		832,830			(400,690	)		(666,517	)
Purchases of reserves in place		—			—			160,580
Additions to proved reserves from extensions, discoveries and improved recovery		1,429,340			2,169,706			1,812,077
Production		(976,224	)		(911,873	)		(744,354	)
Development costs incurred during the period		562,329			513,551			298,624
Sales of natural gas and oil		(120,637	)		(1,313,401	)		(243,551	)
Timing and other		(861,919	)		111,801			(162,912	)

Net change for the year		(1,291,092	)		1,035,771			1,388,037
Beginning of year		4,514,897			3,479,126			2,091,089

End of year	$	3,223,805		$	4,514,897		$	3,479,126

- Definition

Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities.

+ References + Details

- Definition

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

+ References + Details

- Definition

Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed.

+ References + Details

Summary of Significant Accounting Policies - Summary of Revision of Natural Gas, NGL and Oil Sales, Reported (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other revenues, as previously reported	$ 3,085	$ 2,519	$ 5,240	$ 4,597	$ 5,837	$ 3,775	$ 1,506	$ 3,911	$ 15,441	$ 15,029	$ 9,831
Brokered natural gas, marketing and other revenue, reported										15,029	9,831
Revision of brokered natural gas and marketing	$ 4,994	$ 4,887	$ 6,491	$ 4,062	$ 3,151	$ 3,333	$ 2,981	$ 2,521	$ 20,434	11,986	9,761
Other revenues as previously reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other revenues, as previously reported										3,043	70
Revision of brokered natural gas and marketing [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other revenues, as previously reported										11,986	9,761
Brokered natural gas and marketing previously reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revision of brokered natural gas and marketing
Revision of brokered natural gas and marketing expenses [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revision of brokered natural gas and marketing										$ 11,986	$ 9,761

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended								12 Months Ended
	Dec. 31, 2012 USD ($) Counterparty	Sep. 30, 2012 USD ($)	Jun. 30, 2012 USD ($)	Mar. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Sep. 30, 2011 USD ($)	Jun. 30, 2011 USD ($)	Mar. 31, 2011 USD ($)	Dec. 31, 2012 USD ($) Counterparty	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Allowance for doubtful accounts on exploration and production receivable	$ 2,374,000				$ 4,015,000				$ 2,374,000	$ 4,015,000
Allowance for bad debts									750,000	946,000	$ 3,608,000
Liability due to insufficient reserves	267,000								267,000
Inventory raw materials and supplies	16,300,000				10,900,000				16,300,000	10,900,000
Gain on sale of tubular goods and other inventory										359,000
Proceeds from sale of tubular goods and other inventory										8,000,000
Inventory on first in first out basis	2,600,000								2,600,000
Net book value of unproved properties	743,500,000				748,600,000				743,500,000	748,600,000
Abandonment and impairment of unproved properties	21,230,000	$ 40,118,000	$ 43,641,000	$ 20,289,000	27,639,000	$ 16,627,000	$ 18,900,000	$ 16,537,000	125,278,000	79,703,000	49,738,000
Depreciation expense									13,200,000	16,200,000	16,100,000
Unamortized debt issuance costs	43,100,000				39,400,000				43,100,000	39,400,000
Marketable securities	57,800,000				50,200,000				57,800,000	50,200,000
Other investments	14,300,000				14,600,000				14,300,000	14,600,000
Bank over draft balance included in Accounts Payable	44,600,000				45,700,000				44,600,000	45,700,000
Gain loss as a result of the discontinuance of hedge accounting treatment for derivatives											$ 11,600,000
Allowance for uncollectible receivables	2,400,000				$ 4,000,000				2,400,000	$ 4,000,000
Net derivative asset	$ 7,100,000								$ 7,100,000
Number of counterparties \| Counterparty	2								2
Number of secured lenders not in banking credit facility \| Counterparty									2
Financial Institution [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of counterparties \| Counterparty	15								15
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life of assets									10 years
Minimum [Member] \| Associated assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life of assets									5 years
Minimum [Member] \| Other property and equipment [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life of assets									3 years
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life of assets									15 years
Maximum [Member] \| Associated assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life of assets									7 years
Maximum [Member] \| Other property and equipment [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life of assets									15 years

Summary of Significant Accounting Policies - Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Net of Tax	$ 156,627	$ 67,470	$ 6,421
Contract settlements reclassified to income, Net of Tax	(144,434)	(82,196)	(39,931)
Change in unrealized deferred hedging gains, Net of Tax	71,716	171,353	100,980
Ending Balance, Net of Tax	83,909	156,627	67,470
Beginning Balance, Tax Effect	(98,051)	(43,592)	(3,771)
Contract settlements reclassified to income, Tax Effect	91,871	50,005	24,841
Change in unrealized deferred hedging gains, Tax Effect	(47,466)	(104,464)	(64,662)
Ending Balance, Tax Effect	(53,646)	(98,051)	(43,592)
Beginning Balance, Gross	254,678	111,062	10,192
Contract settlements reclassified to income, Gross	(236,305)	(132,201)	(64,772)
Change in unrealized deferred hedging gains, Gross	119,182	275,817	165,642
Ending Balance, Gross	$ 137,555	$ 254,678	$ 111,062

Dispositions and Acquisitions - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended			6 Months Ended		9 Months Ended			12 Months Ended
	Jun. 30, 2010	Mar. 31, 2010	Mar. 31, 2012	Sep. 30, 2011	Mar. 31, 2011	Jun. 30, 2012	Jun. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross cash proceeds from sale of oil and gas properties											$ 168,219,000	$ 53,926,000	$ 327,765,000
Gain (Loss) on sale of oil and gas properties											49,132,000	2,259,000	76,642,000
Impairment of proved properties											34,273,000	38,681,000	6,505,000
Proceeds used to repay outstanding borrowings under credit facility											1,221,000,000	974,826,000	1,105,000,000
Acquisitions of unproved property													$ 3,697,000
Permian Basin Assets [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Estimated sale of Permian Basin properties											275,000,000
Pennsylvania [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross cash proceeds from sale of oil and gas properties				$ 5,400,000				$ 13,900,000
Gain (Loss) on sale of oil and gas properties				0				$ 746,000	$ 0
Gain on exchange of acreage											6,800,000	4,500,000
Overriding royalty in the prospect minimum								1.00%
Overriding royalty in the prospect maximum								5.00%
Proceeds from exchange of unproved property												11,500,000
Barnett Shale properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross cash proceeds											889,300,000
Gain or loss on sale of natural gas properties											4,800,000
Proceeds from derivative contract							$ 40,000,000
Loss on derivative contracts							$ (1,700,000)
Pretax gain												25,100,000
East Texas [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross cash proceeds from sale of oil and gas properties			$ 8,600,000	10,500,000
Gain (Loss) on sale of oil and gas properties			$ (10,900,000)
Overriding royalty in the prospect minimum			2.50%
Overriding royalty in the prospect maximum			5.00%
Sale of oil and gas properties			75.00%
Impairment of proved properties				$ 31,200,000								$ 31,200,000
Low pressure pipeline [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of pipeline					$ 14,700,000
Gain (Loss) on sale of pipeline					$ 0
Ohio properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross cash proceeds from sale of oil and gas properties		$ 323,000,000
Percentage of Ohio sale closed		90.00%
Gain from sale of oil and gas properties		$ 77,600,000
Proceeds used to repay outstanding borrowings under credit facility										$ 135,000,000
Virginia properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquisitions of producing and unproved properties	$ 134,500,000
Purchase price allocated to proved properties	131,300,000
Acquisitions of unproved property	$ 3,700,000
Oklahoma [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross cash proceeds from sale of oil and gas properties											135,000,000
Gain (Loss) on sale of oil and gas properties											$ 55,200,000
Marcellus Shale properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross cash proceeds from sale of oil and gas properties						$ 2,500,000
Gain (Loss) on sale of oil and gas properties						$ (2,500,000)

Discontinued Operations - Components of Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenues and other income:
Natural gas, NGLs and oil sales	$ 398,688	$ 337,040	$ 298,349	$ 317,617	$ 331,720	$ 304,230	$ 285,353	$ 251,963	$ 1,351,694	$ 1,173,266	$ 823,290
Gain on the sale of assets	61,836	949	(3,227)	(10,426)	3,540	203	(1,622)	139	49,132	2,260	76,642
Total revenues and other income	458,038	299,780	448,931	250,955	303,218	373,969	338,276	215,179	1,457,704	1,230,642	961,397
Costs and expenses:
Direct operating	30,214	29,628	27,041	29,022	25,918	29,828	28,509	28,717	115,905	112,972	96,274
Transportation, gathering and compression	55,281	51,600	44,744	40,820	34,576	32,431	28,666	25,082	192,445	120,755	62,837
Production and ad valorem taxes	9,881	8,819	11,786	36,634	5,920	7,317	7,550	6,879	67,120	27,666	26,107
Exploration	18,022	14,752	15,517	21,516	24,982	17,606	11,592	27,187	69,807	81,367	60,506
Abandonment and impairment of unproved properties	21,230	40,118	43,641	20,289	27,639	16,627	18,900	16,537	125,278	79,703	49,738
Interest expense	44,708	43,997	42,888	37,205	34,709	34,181	31,383	24,779	168,798	125,052	90,665
Depletion, depreciation and amortization	113,216	123,059	108,802	100,151	97,092	93,619	78,294	72,216	445,228	341,221	275,238
Impairment of proved properties									34,273	38,681	6,505
Total costs and expenses	375,112	382,690	354,248	320,598	305,832	318,243	259,797	268,507	1,432,648	1,152,379	821,789
Income tax expense (benefit)
Current	1,778				(636)	7	(8)		1,778	(637)	836
Deferred	(31,742)	29,074	(39,007)	27,843	425	(22,547)	(32,695)	19,897	(13,832)	(34,920)	(51,746)
Total income tax	$ (29,964)	$ 29,074	$ (39,007)	$ 27,843	(211)	(22,540)	(32,703)	19,897	$ (12,054)	(35,557)	(50,910)
Net income (loss) from discontinued operations					$ (164)	$ 1,569	$ 5,517	$ 8,398		15,320	(327,954)
Discontinued operations [Member]
Revenues and other income:
Natural gas, NGLs and oil sales										59,185	157,778
Gain on the sale of assets										4,771	955
Other										10	67
Total revenues and other income										63,966	158,800
Costs and expenses:
Direct operating										10,080	35,328
Transportation, gathering and compression										5,257	8,624
Production and ad valorem taxes										1,309	7,545
Exploration										37	581
Abandonment and impairment of unproved properties											20,233
Interest expense										14,791	40,527
Depletion, depreciation and amortization										8,894	88,269
Impairment of proved properties											463,244
Total costs and expenses										40,368	664,351
Income (loss) before income taxes										23,598	(505,551)
Income tax expense (benefit)
Current
Deferred										8,278	(177,597)
Total income tax										8,278	(177,597)
Net income (loss) from discontinued operations										$ 15,320	$ (327,954)

Discontinued Operations - Composition of Liabilities of Discontinued Operations (Detail) $ in Thousands	Dec. 31, 2011 USD ($)
Composition of liabilities of discontinued operations:
Accrued liabilities	$ 653
Total current liabilities of discontinued operations	$ 653

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Taxes [Line Items]
Income tax expense	$ 29,964,000	$ (29,074,000)	$ 39,007,000	$ (27,843,000)	$ 211,000	$ 22,540,000	$ 32,703,000	$ (19,897,000)	$ 12,054,000	$ 35,557,000	$ 50,910,000
Net deferred tax assets (liabilities)	(736,226,000)				(767,085,000)				(736,226,000)	(767,085,000)
Deferred tax liability related to net deferred hedging gains included in AOCI	53,600,000								53,600,000
Valuation allowance on the deferred compensation plan	7,100,000				$ 4,500,000				7,100,000	$ 4,500,000
Deductible limit	1,000,000								1,000,000
Regular net operating loss carryforwards	318,100,000								318,100,000
Alternative minimum tax carryforwards	292,900,000								$ 292,900,000
Period during which net operating loss carryforwards and alternative minimum tax expire									2018 and 2032
Deferred tax asset related to regular NOL	29,300,000								$ 29,300,000
AMT credit carryforwards that are not subject to limitation or expiration	665,000								665,000
Accrued interest or penalties related to tax amounts	$ 0								$ 0

Income Taxes - Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax (Detail)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Schedule Of Effective Income Tax Rate Reconciliation [Line Items]
Federal statutory tax rate	35.00%	35.00%	35.00%
State	0.70%	7.00%	(0.20%)
Non-deductible executive compensation	1.40%	3.50%	0.20%
Valuation allowance	8.80%	(0.40%)	1.40%
Other	2.20%	0.30%	0.10%
Consolidated effective tax rate	48.10%	45.40%	36.50%

Income Taxes - Income Tax Provision (Benefit) Attributable to Income from Continuing Operations (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Taxes [Line Items]
U.S. federal
U.S. state and local									(1,778)	637	(836)
Total	$ (1,778)				$ 636	$ (7)	$ 8		(1,778)	637	(836)
U.S. federal									11,873	30,055	51,280
U.S. state and local									1,959	4,865	466
Total	31,742	$ (29,074)	$ 39,007	$ (27,843)	(425)	22,547	32,695	$ (19,897)	13,832	34,920	51,746
U.S. federal									11,873	30,055	51,280
U.S. state and local									181	5,502	(370)
Total	$ 29,964	$ (29,074)	$ 39,007	$ (27,843)	$ 211	$ 22,540	$ 32,703	$ (19,897)	$ 12,054	$ 35,557	$ 50,910

Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Current
Deferred compensation	$ 6,192	$ 8,607
Current portion of asset retirement obligation	961	2,011
Other	8,896	1,423
Total current	16,049	12,041
Non-current
Net operating loss carryforward	56,402	63,568
Deferred compensation	72,904	64,176
Equity compensation	23,363	20,576
AMT credits and other credits	2,761	3,505
Non-current portion of asset retirement obligation	56,764	30,358
Cumulative unrealized mark-to-market (gain) loss	(262)	2,373
Other	1,379	1,500
Valuation allowance	(9,052)	(4,534)
Total non-current	204,259	181,522
Current
Net unrealized gain in AOCI related to hedge derivatives	(49,124)	(68,636)
Other	(2,004)
Cumulative unrealized mark-to-market gain	(2,845)
Total current	(53,973)	(68,636)
Non-current
Depreciation, depletion and investments	(894,031)	(862,597)
Net unrealized gain in AOCI related to hedge derivatives	(4,522)	(29,415)
Other	(4,008)
Total non-current	(902,561)	(892,012)
Net deferred tax liability	$ (736,226)	$ (767,085)

Income (Loss) Per Common Share - Computations of Basic and Diluted (Loss) Income Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income (loss) as reported	$ 52,962	$ (53,836)	$ 55,676	$ (41,800)	$ (2,989)	$ 34,755	$ 51,293	$ (25,033)	$ 13,002	$ 58,026	$ (239,256)
Participating basic earnings									(460)	(1,037)	(454)
Basic income (loss) attributed to common shareholders									12,542	56,989	(239,710)
Reallocation of participating earnings										5
Diluted income (loss) attributed to common shareholders									$ 12,542	$ 56,994	$ (239,710)
Basic	$ 0.33	$ (0.34)	$ 0.34	$ (0.26)	$ (0.02)	$ 0.22	$ 0.32	$ (0.16)	$ 0.08	$ 0.36	$ (1.53)
Diluted	$ 0.32	$ (0.34)	$ 0.34	$ (0.26)	$ (0.02)	$ 0.21	$ 0.32	$ (0.16)	$ 0.08	$ 0.36	$ (1.52)
Continuing operations [Member]
Income (loss) as reported									$ 13,002	$ 42,706	$ 88,698
Participating basic earnings									(460)	(763)	(1,574)
Basic income (loss) attributed to common shareholders									12,542	41,943	87,124
Reallocation of participating earnings										3	11
Diluted income (loss) attributed to common shareholders									$ 12,542	$ 41,946	$ 87,135
Basic									$ 0.08	$ 0.26	$ 0.56
Diluted									$ 0.08	$ 0.26	$ 0.55
Discontinued operations [Member]
Income (loss) as reported										$ 15,320	$ (327,954)
Participating basic earnings										(274)	1,120
Basic income (loss) attributed to common shareholders										15,046	(326,834)
Reallocation of participating earnings										2	(11)
Diluted income (loss) attributed to common shareholders										$ 15,048	$ (326,845)
Basic										$ 0.10	$ (2.09)
Diluted										$ 0.10	$ (2.07)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04.23)
-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 18
-Article 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 36, 37, 38
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 20
-Article 5

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 21
-Article 9

+ Details

- 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.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Income (Loss) Per Common Share - Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Common Shares Outstanding (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Denominator:
Weighted average common shares outstanding - basic	159,431	158,030	156,874
Effect of dilutive securities:
Director and employee stock options and SARs	876	1,411	1,554
Weighted average common shares outstanding - diluted	160,307	159,441	158,428

- 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.

+ References + Details

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Income (Loss) Per Common Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Weighted Average Number of Shares, Restricted Stock Liability Awards	2,900,000	2,900,000	2,800,000
Stock appreciation rights excluded from earning per share calculation	854,000	795,000	2,100,000

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Suspended Exploratory Well Costs - Suspended Exploratory Well Costs (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2012 USD ($) Project	Dec. 31, 2011 USD ($) Project	Dec. 31, 2010 USD ($) Project
Exploratory Wells Drilled [Line Items]
Balance at beginning of period	$ 93,388	$ 23,908	$ 19,052
Additions to capitalized exploratory well costs pending the determination of proved reserves	153,250	86,996	28,897
Reclassifications to wells, facilities and equipment based on determination of proved reserves	(184,298)	(17,516)	(24,041)
Divested wells	(4,980)
Capitalized exploratory well costs charged to expense
Balance at end of period	57,360	93,388	23,908
Less exploratory well costs that have been capitalized for a period of one year or less	(45,965)	(83,860)	(13,181)
Capitalized exploratory well costs that have been capitalized for a period greater than one year	$ 11,395	$ 9,528	$ 10,727
Number of projects that have exploratory well costs that have been capitalized for a period greater than one year \| Project	5	3	4

Suspended Exploratory Well Costs - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2012 USD ($) Well	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capitalized exploratory well costs that have been capitalized for more than one year \| $	$ 11,395	$ 9,528	$ 10,727
Number of wells waiting on pipeline	2
Number of wells not operated by the company	3
Total wells	5
Number of wells in marcellus shale area	4

Suspended Exploratory Well Costs - Aging of Capitalized Exploratory Well Costs Suspended more than One Year (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Aging Of Capitalized Exploratory Well Costs [Line Items]
Capitalized exploratory well costs that have been capitalized for more than one year	$ 11,395	$ 9,528	$ 10,727
Exploratory well costs capitalized in year 2012 [Member]
Aging Of Capitalized Exploratory Well Costs [Line Items]
Capitalized exploratory well costs that have been capitalized for more than one year	$ 970
Exploratory well costs capitalized in year 2011 [Member]
Aging Of Capitalized Exploratory Well Costs [Line Items]
Capitalized exploratory well costs that have been capitalized for more than one year		$ 5,946
Exploratory well costs capitalized in year 2010 [Member]
Aging Of Capitalized Exploratory Well Costs [Line Items]
Capitalized exploratory well costs that have been capitalized for more than one year			$ 72
Exploratory well costs capitalized in year 2009 [Member]
Aging Of Capitalized Exploratory Well Costs [Line Items]
Capitalized exploratory well costs that have been capitalized for more than one year				$ 2,884
Exploratory well costs capitalized in year 2008 [Member]
Aging Of Capitalized Exploratory Well Costs [Line Items]
Capitalized exploratory well costs that have been capitalized for more than one year					$ 1,523

Indebtedness - Additional Information (Detail) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2012 USD ($) Ratio CommercialBank	Mar. 31, 2012 USD ($)	Sep. 30, 2011 USD ($)	Jun. 30, 2011 USD ($)	Dec. 31, 2012 USD ($) Ratio CommercialBank	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Jun. 24, 2011 USD ($)	May 31, 2011 USD ($)	May 25, 2011 USD ($)
Debt Instrument [Line Items]
Interest costs, capitalized during the period					$ 0	$ 0	$ 0
Bank Credit facility, Facility amount	$ 1,750,000				1,750,000
Bank Credit facility, Borrowing base	$ 2,000,000				$ 2,000,000
Number of commercial banks included in current bank group \| CommercialBank	28				28
Percentage holding of commercial banks, Maximum	9.00%				9.00%
Notice period for increase in facility amount					20 days
Outstanding balance under the bank credit facility	$ 739,000				$ 739,000	$ 187,000
Undrawn letters of credit	84,700				84,700
Borrowing capacity available under the facility amount	$ 926,300				$ 926,300
Maturity date of loan					Feb. 18, 2016
Weighted average interest rate on the bank credit facility					2.20%	2.20%	2.20%
Commitment fee					0.375%
Interest rate margin on LIBOR loans	1.75%				1.75%
Interest rate margin on base rate loans	0.75%				0.75%
Net proceeds after underwriting discounts and commissions					$ 600,000	$ 500,000	$ 500,000
Purchase price of senior subordinate notes as a percentage of principal	101.00%				101.00%
Gains (Losses) on early extinguishment of debt	$ (11,063)		$ 4	$ (18,580)	$ (11,063)	$ (18,576)	$ (5,351)
6.375% Senior Subordinated notes due 2015 [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior subordinated notes									$ 150,000
Purchase price of senior subordinate notes as a percentage of principal								102.125%		102.375%
Purchase price of remaining outstanding senior subordinate notes								$ 41,100		$ 108,900
7.5% senior subordinated notes due 2016, net of discount [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior subordinated notes									$ 250,000
Purchase price of senior subordinate notes as a percentage of principal								103.75%		104.00%
Purchase price of remaining outstanding senior subordinate notes								$ 51,200		$ 198,800
5.00% Senior Subordinated notes due 2022 [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior subordinated notes		$ 600,000
Net proceeds after underwriting discounts and commissions		589,500
Discount on Senior Subordinated notes		$ 10,500
Maximum redemption price of notes as percentage of principal amount	105.00%	102.50%			105.00%
Maximum percentage of original aggregate amount of notes that can be redeemed	35.00%				35.00%
Minimum percentage of original aggregate principal amount of notes to remain outstanding immediately after redemption	65.00%				65.00%
Interest rate on senior subordinated notes	5.00%				5.00%	5.00%
Maximum number of days after the date of the closing of the equity offering that the redemption should occur					60 days
5.00% Senior Subordinated notes due 2022 [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum redemption price of notes as percentage of principal amount	100.00%	102.50%			100.00%
7.5% senior subordinated notes due 2017 [Member]
Debt Instrument [Line Items]
Purchase price of senior subordinate notes as a percentage of principal	103.75%				103.75%
Minimum [Member]
Debt Instrument [Line Items]
Spread for Alternate Base Rate	0.50%				0.50%
Spread for LIBOR Rate	1.50%				1.50%
Annual rate of commitment fee paid on the undrawn balance					0.375%
Ratio of debt to EBITDAX \| Ratio	1.00				1.00
Current ratio \| Ratio	1.0				1.0
Maximum [Member]
Debt Instrument [Line Items]
Spread for Alternate Base Rate	1.50%				1.50%
Spread for LIBOR Rate	2.50%				2.50%
Annual rate of commitment fee paid on the undrawn balance					0.50%
Ratio of debt to EBITDAX \| Ratio	4.25				4.25
Current ratio \| Ratio	1.0				1.0

Indebtedness - Debt Outstanding (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Bank debt (2.2%)	$ 739,000	$ 187,000
Subordinated debt	2,139,185	1,787,967
Total debt	2,878,185	1,974,967
7.5% Senior Subordinated notes due 2017 [Member]
Debt Instrument [Line Items]
Subordinated debt		250,000
7.25% Senior Subordinated notes due 2018 [Member]
Debt Instrument [Line Items]
Subordinated debt	250,000	250,000
8.00% Senior Subordinated notes due 2019 [Member]
Debt Instrument [Line Items]
Subordinated debt	289,185	287,967
6.75% Senior Subordinated notes due 2020 [Member]
Debt Instrument [Line Items]
Subordinated debt	500,000	500,000
5.75% Senior Subordinated notes due 2021 [Member]
Debt Instrument [Line Items]
Subordinated debt	500,000	$ 500,000
5.00% Senior Subordinated notes due 2022 [Member]
Debt Instrument [Line Items]
Subordinated debt	$ 600,000

Indebtedness - Debt Outstanding (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Mar. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Bank debt percentage	2.20%		2.20%
7.5% Senior Subordinated notes due 2017 [Member]
Debt Instrument [Line Items]
Interest rate on senior subordinated notes	7.50%		7.50%
7.25% Senior Subordinated notes due 2018 [Member]
Debt Instrument [Line Items]
Interest rate on senior subordinated notes	7.25%		7.25%
8.00% Senior Subordinated notes due 2019 [Member]
Debt Instrument [Line Items]
Discount on Senior Subordinated notes	$ 10,815		$ 12,033
Interest rate on senior subordinated notes	8.00%		8.00%
6.75% Senior Subordinated notes due 2020 [Member]
Debt Instrument [Line Items]
Interest rate on senior subordinated notes	6.75%		6.75%
5.75% Senior Subordinated notes due 2021 [Member]
Debt Instrument [Line Items]
Interest rate on senior subordinated notes	5.75%		5.75%
5.00% Senior Subordinated notes due 2022 [Member]
Debt Instrument [Line Items]
Discount on Senior Subordinated notes		$ 10,500
Interest rate on senior subordinated notes	5.00%		5.00%

Indebtedness - Schedule for Long-Term Debt Outstanding (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Schedule Of Long Term Debt Maturities [Line Items]
2013
2014
2015
2016	739,000
2017
2018	250,000
Thereafter	1,889,185
Total debt	$ 2,878,185	$ 1,974,967

Asset Retirement Obligations - Asset Retirement Obligations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Asset Retirement Obligations [Line Items]
Beginning of period	$ 84,810	$ 60,693
Liabilities incurred	9,802	3,265
Liabilities settled	(3,649)	(4,717)
Disposition of wells	(1,457)	(716)
Accretion expense	8,793	5,488
Change in estimate	48,179	20,797
End of period	146,478	84,810
Less current portion	(2,470)	(5,005)
Long-term asset retirement obligations-continuing operations	$ 144,008	$ 79,805

Capital Stock - Additional Information (Detail) - $ / shares	3 Months Ended												12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Equity [Line Items]
Authorized capital stock	485,000,000												485,000,000
Common stock, shares authorized	475,000,000				475,000,000								475,000,000	475,000,000
Preferred stock, shares authorized	10,000,000				10,000,000								10,000,000	10,000,000
Common stock dividends declared per share	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.04	$ 0.16	$ 0.16	$ 0.16

Capital Stock - Capital Stock (Detail) - shares	12 Months Ended
Capital Stock - Capital Stock (Detail) - shares	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Equity [Line Items]
Beginning balance	161,131,547	159,909,052	158,118,937
Stock options/SARs exercised	926,425	862,774	991,988
Restricted stock grants	354,674	326,591	405,127
Restricted stock units vested	57,824
Issued for acreage purchases			380,229
Treasury shares	43,628	33,130	12,771
Ending balance	162,514,098	161,131,547	159,909,052

- Definition

Number of shares of stock issued during the period pursuant to acquisitions.

+ References + Details

Derivative Activities - Additional Information (Detail) bbl in Millions	12 Months Ended
	Dec. 31, 2012 USD ($) bbl Counterparty Institution $ / bbl $ / Mcf	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Derivative [Line Items]
Derivative assets liabilities at fair value net	$ 144,300,000
Unrealized pre-tax derivative gain expected to be reclassified into earnings	137,600,000
Gains (Losses) in oil and gas sales related to settled hedging transactions	236,300,000	$ 123,600,000	$ 64,800,000
Ineffective unrealized and realized gains (losses) recognized income	1,125,000	$ 9,544,000	$ 2,035,000
Fair value of natural gas basis contracts that are not designated for hedge accounting	$ 993,000
Number of financial institutions with whom we conduct derivative activities \| Institution	15
Number of secured lenders not in banking credit facility \| Counterparty	2
Swap Oil [Member]
Derivative [Line Items]
Nonmonetary notional amount of price risk derivatives \| bbl	3.3
Average price of SWAP per MCF \| $ / bbl	95.70
Collars Gas [Member]
Derivative [Line Items]
Nonmonetary notional amount of price risk derivatives \| bbl	242.7
Average floor price \| $ / Mcf	4.13
Average cap price \| $ / Mcf	4.72
Collar Oil [Member]
Derivative [Line Items]
Nonmonetary notional amount of price risk derivatives \| bbl	1.8
Average floor price \| $ / bbl	88.58
Average cap price \| $ / bbl	100.00
2013 [Member]
Derivative [Line Items]
Unrealized pre-tax derivative gain expected to be reclassified into earnings	$ 127,300,000
2014 [Member]
Derivative [Line Items]
Unrealized pre-tax derivative gain expected to be reclassified into earnings	$ 10,300,000
Natural gas [Member]
Derivative [Line Items]
Nonmonetary notional amount of price risk derivatives \| bbl	77.9
Average price of SWAP per MCF \| $ / Mcf	3.64
Swap NGLs (Natural Gasoline) [Member]
Derivative [Line Items]
Nonmonetary notional amount of price risk derivatives \| bbl	2.4
Average price of SWAP per MCF \| $ / bbl	92.72
NGLs (C3Component) [Member]
Derivative [Line Items]
Nonmonetary notional amount of price risk derivatives \| bbl	1.8
NGLs (C3Component) [Member] \| Collars Gas [Member]
Derivative [Line Items]
Average price of SWAP per MCF \| $ / bbl	35.55

Derivative Activities - Derivative Volumes Hedged and Average Hedge Prices (Detail)	Dec. 31, 2012 bbl MMBTU $ / bbl $ / MMBTU
Collars [Member] \| Crude Oil 2013 [Member]
Derivative [Line Items]
Volume Hedged \| bbl	3,000
Average floor price	90.60
Average cap price	100.00
Collars [Member] \| Crude Oil 2014 [Member]
Derivative [Line Items]
Volume Hedged \| bbl	2,000
Average floor price	85.55
Average cap price	100.00
Collars [Member] \| Natural Gas 2013 [Member]
Derivative [Line Items]
Volume Hedged \| MMBTU	280,000
Average floor price \| $ / MMBTU	4.59
Average cap price \| $ / MMBTU	5.05
Collars [Member] \| Natural Gas 2014 [Member]
Derivative [Line Items]
Volume Hedged \| MMBTU	385,000
Average floor price \| $ / MMBTU	3.80
Average cap price \| $ / MMBTU	4.48
Swaps [Member] \| Crude Oil 2013 [Member]
Derivative [Line Items]
Volume Hedged \| bbl	5,081
Average hedge price	96.59
Swaps [Member] \| Crude Oil 2014 [Member]
Derivative [Line Items]
Volume Hedged \| bbl	4,000
Average hedge price	94.56
Swaps [Member] \| NGLs Propane 2013 [Member]
Derivative [Line Items]
Volume Hedged \| bbl	5,000
Average hedge price	35.55
Swaps [Member] \| Natural Gas 2013 [Member]
Derivative [Line Items]
Volume Hedged \| MMBTU	213,384
Average hedge price \| $ / MMBTU	3.64
Sold swaps [Member] \| NGLs Natural Gasoline 2013 [Member]
Derivative [Line Items]
Volume Hedged \| bbl	8,000
Average hedge price	89.64
Re-purchased swaps [Member] \| NGLs Natural Gasoline 2013 [Member]
Derivative [Line Items]
Volume Hedged \| bbl	1,500
Average hedge price	76.30

Derivative Activities - Derivative Fair Value Income (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Derivatives, Fair Value [Line Items]
Change in fair value of derivatives that do not qualify for hedge accounting									$ 5,958	$ 15,762	$ (2,086)
Realized gain (loss) on settlement-natural gas									131	14,743	35,988
Realized gain (loss) on settlement-oil									2,486	(9,574)
Realized gain (loss) on settlement-NGLs									31,737	9,612
Realized gain on early settlement of oil derivatives											15,697
Hedge ineffectiveness-realized									4,346	7,361	(352)
-unrealized									(3,221)	2,183	2,387
Derivative fair value income	$ (5,571)	$ (40,728)	$ 148,569	$ (60,833)	$ (37,879)	$ 65,761	$ 53,039	$ (40,834)	$ 41,437	$ 40,087	$ 51,634

Derivative Activities - Combined Fair Value of Derivatives by Consolidated Balance Sheets (Detail) - USD ($)	Dec. 31, 2012	Dec. 31, 2011
Derivative assets:
Derivative assets	$ 153,267	$ 251,500
Derivative liabilities:
Derivative liabilities	(7,934)	(173)
Natural gas [Member] \| Swaps [Member]
Derivative assets:
Derivative assets	7,504	54,162
Natural gas [Member] \| Collars [Member]
Derivative assets:
Derivative assets	122,255	228,228
Derivative liabilities:
Derivative liabilities	(3,463)
Natural gas [Member] \| Basis Swaps [Member]
Derivative assets:
Derivative assets	993
Crude oil [Member] \| Swaps [Member]
Derivative assets:
Derivative assets	9,650	(263)
Crude oil [Member] \| Collars [Member]
Derivative assets:
Derivative assets	2,222	(16,607)
Crude oil [Member] \| Call options [Member]
Derivative assets:
Derivative assets		(29,348)
Swap NGLs (Natural Gasoline) [Member] \| C5 swaps [Member]
Derivative assets:
Derivative assets	10,643	15,328
Derivative liabilities:
Derivative liabilities	2,275	$ (173)
Swap NGLs (Natural Gasoline) [Member] \| C3 swaps [Member]
Derivative liabilities:
Derivative liabilities	$ (6,746)

Derivative Activities - Fair Value of Derivative Contracts, by Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Derivatives, Fair Value [Line Items]
Assets Carrying Value	$ 152,114	$ 282,546
Liabilities Carrying Value	(12,963)	(2,373)
Net Carrying Value	139,151	280,173
Asset Carrying Value	15,086	17,949
Liabilities Carrying Value	(8,904)	(46,795)
Net Carrying Value	6,182	(28,846)
Sold swaps [Member]
Derivatives, Fair Value [Line Items]
Asset Carrying Value	7,316	17,949
Liabilities Carrying Value	(8,904)	(2,794)
Net Carrying Value	(1,588)	15,155
Re-purchased swaps [Member]
Derivatives, Fair Value [Line Items]
Asset Carrying Value	5,920
Net Carrying Value	5,920
Collars [Member]
Derivatives, Fair Value [Line Items]
Assets Carrying Value	129,878	228,228
Liabilities Carrying Value	(9,721)	(1,954)
Net Carrying Value	120,157	226,274
Asset Carrying Value	857
Liabilities Carrying Value		(14,653)
Net Carrying Value	857	(14,653)
Call options [Member]
Derivatives, Fair Value [Line Items]
Liabilities Carrying Value		(29,348)
Net Carrying Value		(29,348)
Basis Swaps [Member]
Derivatives, Fair Value [Line Items]
Asset Carrying Value	993
Net Carrying Value	993
Swaps [Member]
Derivatives, Fair Value [Line Items]
Assets Carrying Value	22,236	54,318
Liabilities Carrying Value	(3,242)	(419)
Net Carrying Value	$ 18,994	$ 53,899

Derivative Activities - Effects of Cash Flow Hedges and Other Hedges on Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Derivative Instruments, Gain (Loss) [Line Items]
Change in Hedge Derivative Fair Value	$ 119,182	$ 275,817	$ 165,642
Realized Gain Reclassified from OCI into Revenue	(236,305)	(132,201)	(64,772)
Change in unrealized deferred hedging gains, tax effect,	(47,466)	(104,464)	(64,662)
Change in Hedge Derivative Fair value, effects of Cash flow hedges on accumulated other comprehensive income (loss) total	71,716	171,353	100,980
Realized Gain Reclassified from AOCI into Revenue, Income taxes	(91,871)	(50,005)	(24,841)
Realized gain on hedge derivative contract settlements reclassified into earnings from other comprehensive income, net of taxes	144,434	82,196	$ 39,931
Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Hedge Derivative Fair Value	46,371	51,997
Realized Gain Reclassified from OCI into Revenue	78,779
Put options [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Hedge Derivative Fair Value	(1,955)
Realized Gain Reclassified from OCI into Revenue	(1,955)
Collars [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Hedge Derivative Fair Value	74,766	223,408
Realized Gain Reclassified from OCI into Revenue	$ 159,481	123,594
Collars - discontinued operations [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Hedge Derivative Fair Value		412
Realized Gain Reclassified from OCI into Revenue		$ 8,607

Derivative Activities - Effects of Non-Hedge Derivatives on Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Derivative Financial Instruments [Line Items]
Gain (Loss) Recognized in Income (Non-hedge Derivatives									$ 40,312	$ 30,543	$ 49,599
Gain (Loss) Recognized in Income (Ineffective Portion)									1,125	9,544	2,035
Derivative Fair Value Income (Loss)	$ (5,571)	$ (40,728)	$ 148,569	$ (60,833)	$ (37,879)	$ 65,761	$ 53,039	$ (40,834)	41,437	40,087	51,634
Swaps [Member]
Derivative Financial Instruments [Line Items]
Gain (Loss) Recognized in Income (Non-hedge Derivatives									11,601	24,767
Gain (Loss) Recognized in Income (Ineffective Portion)									(657)	767
Derivative Fair Value Income (Loss)									10,944	25,534
Re-purchased swaps [Member]
Derivative Financial Instruments [Line Items]
Gain (Loss) Recognized in Income (Non-hedge Derivatives									9,313
Derivative Fair Value Income (Loss)									9,313
Collars [Member]
Derivative Financial Instruments [Line Items]
Gain (Loss) Recognized in Income (Non-hedge Derivatives									5,126	5,266	65,996
Gain (Loss) Recognized in Income (Ineffective Portion)									1,782	8,777	2,035
Derivative Fair Value Income (Loss)									6,908	14,043	68,031
Call options [Member]
Derivative Financial Instruments [Line Items]
Gain (Loss) Recognized in Income (Non-hedge Derivatives									13,178	553	(15,895)
Derivative Fair Value Income (Loss)									13,178	553	(15,895)
Put options [Member]
Derivative Financial Instruments [Line Items]
Gain (Loss) Recognized in Income (Non-hedge Derivatives									(30)
Derivative Fair Value Income (Loss)									(30)
Basis Swaps [Member]
Derivative Financial Instruments [Line Items]
Gain (Loss) Recognized in Income (Non-hedge Derivatives									1,124	(43)	(502)
Derivative Fair Value Income (Loss)									$ 1,124	$ (43)	$ (502)

Fair Value Measurements - Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	$ 144,300
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities held in the deferred compensation plans	57,776	$ 50,237
Fair Value, Measurements, Recurring [Member] \| Call options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net		(29,348)
Fair Value, Measurements, Recurring [Member] \| Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	23,326	69,054
Fair Value, Measurements, Recurring [Member] \| Collars [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	121,014	211,621
Fair Value, Measurements, Recurring [Member] \| Basis Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	993
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities held in the deferred compensation plans	57,776	50,237
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Fair Value, Measurements, Recurring [Member] \| Call options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Fair Value, Measurements, Recurring [Member] \| Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Fair Value, Measurements, Recurring [Member] \| Collars [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net
Significant Other Observable Inputs (Level 2) [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities held in the deferred compensation plans
Significant Other Observable Inputs (Level 2) [Member] \| Fair Value, Measurements, Recurring [Member] \| Call options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net		(29,348)
Significant Other Observable Inputs (Level 2) [Member] \| Fair Value, Measurements, Recurring [Member] \| Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	23,326	69,054
Significant Other Observable Inputs (Level 2) [Member] \| Fair Value, Measurements, Recurring [Member] \| Collars [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	121,014	211,621
Significant Other Observable Inputs (Level 2) [Member] \| Fair Value, Measurements, Recurring [Member] \| Basis Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	$ 993
Significant Unobservable Inputs (Level 3) [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities held in the deferred compensation plans
Significant Unobservable Inputs (Level 3) [Member] \| Fair Value, Measurements, Recurring [Member] \| Call options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net
Significant Unobservable Inputs (Level 3) [Member] \| Fair Value, Measurements, Recurring [Member] \| Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net
Significant Unobservable Inputs (Level 3) [Member] \| Fair Value, Measurements, Recurring [Member] \| Collars [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2011	Dec. 31, 2010	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Fair Value Measurements Of Financial Instruments [Line Items]
Interest and dividends			$ 1,400,000	$ 1,400,000	$ 864,000
Mark-to-market gain (loss)			4,700,000	2,300,000	11,500,000
Impairment on oil and gas properties			34,273,000	38,681,000	6,505,000
Barnett Shale properties [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Impairment on oil and gas properties		$ 463,200,000
Surface property [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Impairment of long lived assets			1,281,000
Mississippi [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Impairment on oil and gas properties			31,100,000
North Central Texas [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Impairment on oil and gas properties			$ 3,200,000
East Texas [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Impairment on oil and gas properties	$ 31,200,000			31,200,000
Gulf Coast [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Impairment on oil and gas properties				$ 7,500,000	6,500,000
Discontinued operations [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Impairment on oil and gas properties					463,244,000
Discontinued operations [Member] \| Barnett Shale [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Impairment charge related to discontinued operations					$ 463,200,000

Fair Value Measurements - Value of Assets Measured at Fair Value on Non Recurring Basis (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]
Impairment	$ 34,273,000	$ 38,681,000	$ 6,505,000
Continuing operations [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]
Fair Value	12,604,000	24,388,000	16,075,000
Impairment	34,273,000	$ 38,681,000	6,505,000
Discontinued operations [Member]
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]
Impairment			463,244,000
Discontinued operations [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]
Fair Value			835,913,000
Impairment			$ 463,244,000
Surface property [Member]
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]
Impairment	1,281,000
Surface property [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]
Fair Value	6,269,000
Impairment	$ 1,281,000

- Definition

The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 225
-Section 45
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6743430&loc=d3e92212-112881

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Impairment
-URI http://asc.fasb.org/extlink&oid=6515133

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2420-110228

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 26
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 7, 25
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements - Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($)	Dec. 31, 2012	Dec. 31, 2011
Assets:
Commodity swaps, collars, basis swaps, call and put options	$ 153,267	$ 251,500
Marketable securities	57,800,000	50,200,000
Liabilities:
Commodity swaps, collars and call options	7,934	173
Bank credit facility	(739,000,000)	(187,000,000)
Subordinated debt	(2,139,185,000)	(1,787,967,000)
7.25% Senior Subordinated notes due 2018 [Member]
Liabilities:
Subordinated debt	(250,000,000)	(250,000,000)
8.00% Senior Subordinated notes due 2019 [Member]
Liabilities:
Subordinated debt	(289,185,000)	(287,967,000)
6.75% Senior Subordinated notes due 2020 [Member]
Liabilities:
Subordinated debt	(500,000,000)	(500,000,000)
5.00% Senior Subordinated notes due 2022 [Member]
Liabilities:
Subordinated debt	(600,000,000)
Carrying Value [Member]
Assets:
Commodity swaps, collars, basis swaps, call and put options	153,267,000	251,500,000
Marketable securities	57,776,000	50,237,000
Liabilities:
Commodity swaps, collars and call options	(7,934,000)	(173,000)
Bank credit facility	(739,000,000)	(187,000,000)
Deferred compensation plan	(187,604,000)	(169,188,000)
Carrying Value [Member] \| 7.5% Senior Subordinated Notes due 2017 [Member]
Liabilities:
Subordinated debt		(250,000,000)
Carrying Value [Member] \| 7.25% Senior Subordinated notes due 2018 [Member]
Liabilities:
Subordinated debt	(250,000,000)	(250,000,000)
Carrying Value [Member] \| 8.00% Senior Subordinated notes due 2019 [Member]
Liabilities:
Subordinated debt	(289,185,000)	(287,967,000)
Carrying Value [Member] \| 6.75% Senior Subordinated notes due 2020 [Member]
Liabilities:
Subordinated debt	(500,000,000)	(500,000,000)
Carrying Value [Member] \| 5.75% Senior Subordinated Notes due 2021 [Member]
Liabilities:
Subordinated debt	(500,000,000)	(500,000,000)
Carrying Value [Member] \| 5.00% Senior Subordinated notes due 2022 [Member]
Liabilities:
Subordinated debt	(600,000,000)
Fair Value [Member]
Assets:
Commodity swaps, collars, basis swaps, call and put options	153,267,000	251,500,000
Marketable securities	57,776,000	50,237,000
Liabilities:
Commodity swaps, collars and call options	(7,934,000)	(173,000)
Bank credit facility	(739,000,000)	(187,000,000)
Deferred compensation plan	(187,604,000)	(169,188,000)
Fair Value [Member] \| 7.5% Senior Subordinated Notes due 2017 [Member]
Liabilities:
Subordinated debt		(265,625,000)
Fair Value [Member] \| 7.25% Senior Subordinated notes due 2018 [Member]
Liabilities:
Subordinated debt	(262,500,000)	(267,500,000)
Fair Value [Member] \| 8.00% Senior Subordinated notes due 2019 [Member]
Liabilities:
Subordinated debt	(332,250,000)	(334,500,000)
Fair Value [Member] \| 6.75% Senior Subordinated notes due 2020 [Member]
Liabilities:
Subordinated debt	(542,500,000)	(555,000,000)
Fair Value [Member] \| 5.75% Senior Subordinated Notes due 2021 [Member]
Liabilities:
Subordinated debt	(535,000,000)	$ (541,250,000)
Fair Value [Member] \| 5.00% Senior Subordinated notes due 2022 [Member]
Liabilities:
Subordinated debt	$ (627,000,000)

Fair Value Measurements - Carrying Amounts and Fair Values of Financial Instruments (Parenthetical) (Detail)	Dec. 31, 2012	Dec. 31, 2011
7.5% Senior Subordinated Notes due 2017 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate on senior subordinated notes	7.50%
7.25% Senior Subordinated notes due 2018 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate on senior subordinated notes	7.25%	7.25%
8.00% Senior Subordinated notes due 2019 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate on senior subordinated notes	8.00%	8.00%
6.75% Senior Subordinated notes due 2020 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate on senior subordinated notes	6.75%	6.75%
5.75% Senior Subordinated Notes due 2021 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate on senior subordinated notes	5.75%
5.00% Senior Subordinated notes due 2022 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate on senior subordinated notes	5.00%	5.00%

Stock-Based Compensation Plans - Additional Information (Detail) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012 USD ($) $ / shares shares	Sep. 30, 2012 USD ($)	Jun. 30, 2012 USD ($)	Mar. 31, 2012 USD ($)	Dec. 31, 2011 USD ($) shares	Sep. 30, 2011 USD ($)	Jun. 30, 2011 USD ($)	Mar. 31, 2011 USD ($)	Dec. 31, 2012 USD ($) Plans $ / shares shares	Dec. 31, 2011 USD ($) $ / shares shares	Dec. 31, 2010 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period									3 years
Expiration term of stock options									5 years
Operating expense	$ 30,214	$ 29,628	$ 27,041	$ 29,022	$ 25,918	$ 29,828	$ 28,509	$ 28,717	$ 115,905	$ 112,972	$ 96,274
Exploration expense	18,022	14,752	15,517	21,516	24,982	17,606	11,592	27,187	69,807	81,367	60,506
General and administrative expense	46,582	44,497	44,005	38,729	42,205	35,907	39,120	33,959	173,813	151,191	140,571
Stock-based compensation expense									4,049	4,108	4,209
Brokered natural gas and marketing	$ 4,994	$ 4,887	$ 6,491	$ 4,062	$ 3,151	$ 3,333	$ 2,981	$ 2,521	20,434	11,986	9,761
Termination costs											$ 8,452
Cash received upon exercise of stock options/SARs awards									$ 2,100
Tax benefit of stock compensation										$ 11,676
Active equity-based stock plans \| Plans									2
Number of stock option granted \| shares									754,471	843,485	1,394,136
Number of SARs outstanding \| shares	3,400,000								3,400,000
Total intrinsic value of stock options and SARs exercised									$ 61,000	$ 62,500	$ 50,600
Aggregate intrinsic value of the awards outstanding	$ 40,400								40,400
Aggregate intrinsic value of the awards exercisable	$ 27,000								$ 27,000
Weighted average remaining contractual life of awards exercisable									1 year 7 months 13 days
Maximum percentage of employers contribution	75.00%								75.00%
Maximum percentage of employers contribution in cash									6.00%
Employer contribution									$ 4,000	3,300
Minimum period of service for contribution to fully vest									2 years
Non-cash, Mark-to-market income (loss) related to deferred compensation plan									$ (7,200)	$ (43,200)	10,200
Shares held in rabbi trust total \| shares	2,700,000				2,800,000				2,700,000	2,800,000
Vested shares held in rabbi trust \| shares	2,300,000				2,300,000				2,300,000	2,300,000
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock option granted \| shares									32,000
Number of stock option outstanding \| shares	3,400,000								3,400,000
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of fully vested awards and awards expected to vest \| shares	3,300,000								3,300,000
Weighted average exercise price of fully vested awards and awards expected to vest in years									2 years 5 months 5 days
Weighted average exercise price of fully vested awards and awards expected to vest \| $ / shares	$ 52.45								$ 52.45
Aggregate intrinsic value of fully vested awards and awards expected to vest	$ 39,000								$ 39,000
Unrecognized compensation related to Awards	$ 16,700								$ 16,700
Weighted average period									1 year 9 months 18 days
Share Based Compensation Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Operating expense									$ 2,400	$ 2,000	2,000
Exploration expense									4,100	4,100	4,200
General and administrative expense									44,500	36,200	34,200
Stock-based compensation expense									52,800	43,800	44,400
Brokered natural gas and marketing									$ 1,800	1,500	1,200
Termination costs											2,800
2005 Equity Based Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under the plans \| shares									5,600,000
Maximum number of common stock authorized to be issued under the Plans \| shares	15,000,000								15,000,000
1999 Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under the plans \| shares									2,200,000
Maximum number of common stock authorized to be issued under the Plans \| shares	7,200,000								7,200,000
Director Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of common stock authorized to be issued under the Plans \| shares	450,000								450,000
Liability Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense									$ 21,500	$ 19,100	$ 20,500
Unrecognized compensation related to Awards	$ 21,600								$ 21,600
Weighted average period									1 year 10 months 24 days
Shares granted to employees \| shares									366,300	334,000	392,000
Vesting period of shares granted to employees									Three-year	Three-year	Three-year
Shares granted to employees and directors \| shares									381,000	352,000	413,000
Restricted stock granted average price \| $ / shares									$ 64.06	$ 51.17	$ 45.83
Shares granted to directors \| shares									14,700	18,000	21,000
Proceeds received from sale of stock held in deferred compensation plan									$ 26,600
Equity Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense									11,800	$ 4,200
Unrecognized compensation related to Awards	$ 15,400								$ 15,400
Weighted average period									2 years
Shares granted to employees \| shares									364,000	331,000
Vesting period of shares granted to employees									Three-year

Stock-Based Compensation Plans - Stock Option and SARs Activities (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Schedule Of Stock Option Activity [Line Items]
Beginning Balance, Weighted Average Exercise Price	$ 41.47	$ 37.20	$ 31.38
Granted, Weighted Average Exercise Price	64.14	51.17	46.09
Exercised, Weighted Average Exercise Price	30.20	32.69	20.49
Expired/forfeited , Weighted Average Exercise Price	48.00	52.65	48.18
Ending Balance, Weighted Average Exercise Price	$ 52.52	$ 41.47	$ 37.20
Beginning Balance, Shares	4,558,609	6,461,839	7,154,712
Granted, Shares	754,471	843,485	1,394,136
Exercised, Shares	(1,860,367)	(2,511,989)	(1,883,091)
Expired/forfeited, Shares	(19,351)	(234,726)	(203,918)
Ending Balance, Shares	3,433,362	4,558,609	6,461,839

Stock-Based Compensation Plans - Outstanding Stock Options and SARs (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Schedule Of Stock Options [Line Items]
Number of outstanding Number of exercisable, Shares	3,433,362
Weighted Average Remaining Contractual Life (in years)	2 years 5 months 19 days
Weighted Average Exercise Price, Outstanding	$ 52.52	$ 41.47	$ 37.20	$ 31.38
Number of exercisable, Shares	1,807,345
Weighted Average Exercise Price, Exercisable	$ 50.22
Range of Exercise Prices One [Member]
Schedule Of Stock Options [Line Items]
Exercise Price, Minimum	1.29
Exercise Price, Maximum	$ 9.99
Number of outstanding Number of exercisable, Shares	17,015
Weighted Average Remaining Contractual Life (in years)	8 months 1 day
Weighted Average Exercise Price, Outstanding	$ 2.36
Number of exercisable, Shares	17,015
Weighted Average Exercise Price, Exercisable	$ 2.36
Range of Exercise Prices Two [Member]
Schedule Of Stock Options [Line Items]
Exercise Price, Minimum	10.00
Exercise Price, Maximum	$ 19.99
Number of outstanding Number of exercisable, Shares	15,435
Weighted Average Remaining Contractual Life (in years)	2 years 8 months 23 days
Weighted Average Exercise Price, Outstanding	$ 19.63
Number of exercisable, Shares	15,435
Weighted Average Exercise Price, Exercisable	$ 19.63
Range of Exercise Prices Three [Member]
Schedule Of Stock Options [Line Items]
Exercise Price, Minimum	20.00
Exercise Price, Maximum	29.99
Range of Exercise Prices Four [Member]
Schedule Of Stock Options [Line Items]
Exercise Price, Minimum	30.00
Exercise Price, Maximum	$ 39.99
Number of outstanding Number of exercisable, Shares	226,838
Weighted Average Remaining Contractual Life (in years)	1 year 2 months 9 days
Weighted Average Exercise Price, Outstanding	$ 34.30
Number of exercisable, Shares	223,458
Weighted Average Exercise Price, Exercisable	$ 34.23
Range of Exercise Prices Five [Member]
Schedule Of Stock Options [Line Items]
Exercise Price, Minimum	40.00
Exercise Price, Maximum	$ 49.99
Number of outstanding Number of exercisable, Shares	1,543,269
Weighted Average Remaining Contractual Life (in years)	2 years 1 month 24 days
Weighted Average Exercise Price, Outstanding	$ 45.38
Number of exercisable, Shares	903,347
Weighted Average Exercise Price, Exercisable	$ 44.22
Range of Exercise Prices Six [Member]
Schedule Of Stock Options [Line Items]
Exercise Price, Minimum	50.00
Exercise Price, Maximum	$ 59.99
Number of outstanding Number of exercisable, Shares	534,922
Weighted Average Remaining Contractual Life (in years)	3 years 1 month 2 days
Weighted Average Exercise Price, Outstanding	$ 52.86
Number of exercisable, Shares	222,686
Weighted Average Exercise Price, Exercisable	$ 53.59
Range of Exercise Prices Seven [Member]
Schedule Of Stock Options [Line Items]
Exercise Price, Minimum	60.00
Exercise Price, Maximum	$ 69.99
Number of outstanding Number of exercisable, Shares	767,013
Weighted Average Remaining Contractual Life (in years)	4 years 4 days
Weighted Average Exercise Price, Outstanding	$ 64.17
Number of exercisable, Shares	96,534
Weighted Average Exercise Price, Exercisable	$ 64.57
Range of Exercise Prices Eight [Member]
Schedule Of Stock Options [Line Items]
Exercise Price, Minimum	70.00
Exercise Price, Maximum	$ 75.00
Number of outstanding Number of exercisable, Shares	328,870
Weighted Average Remaining Contractual Life (in years)	4 months 6 days
Weighted Average Exercise Price, Outstanding	$ 75.00
Number of exercisable, Shares	328,870
Weighted Average Exercise Price, Exercisable	$ 75.00

Stock-Based Compensation Plans - Weighted Average Grant Date Fair Value of SARs (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Schedule Of Weighted Average Assumptions For Fair Values Of Stock Options [Line Items]
Weighted average exercise price per share	$ 64.14	$ 51.17	$ 46.09
Expected annual dividends per share	0.25%	0.31%	0.35%
Expected life in years	3 years 8 months 12 days	3 years 8 months 12 days	3 years 7 months 6 days
Expected volatility	45.00%	47.00%	49.00%
Risk-free interest rate	0.50%	1.40%	1.60%
Weighted average grant date fair value	$ 21.32	$ 18.22	$ 17.01

Stock-Based Compensation Plans - Restricted Stock and Restricted Stock Units Outstanding (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	$ 21.32	$ 18.22	$ 17.01
Equity Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning Balance	49.64
Granted	63.44	49.56
Vested	56.73	49.37
Forfeited	58.65	49.45
Outstanding, Ending Balance	$ 59.08	$ 49.64
Outstanding, Beginning Balance	221,609
Granted	364,082	331,209
Vested	(208,802)	(88,854)
Forfeited	(27,733)	(20,746)
Outstanding, Ending Balance	349,156	221,609
Liability Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning Balance	$ 48.76	$ 44.81	$ 45.64
Granted	64.06	51.17	45.83
Vested	52.17	45.55	46.90
Forfeited	54.54	45.04	46.04
Outstanding, Ending Balance	$ 58.91	$ 48.76	$ 44.81
Outstanding, Beginning Balance	487,244	582,751	627,189
Granted	380,808	352,419	413,422
Vested	(438,283)	(418,634)	(439,361)
Forfeited	(6,291)	(29,292)	(18,499)
Outstanding, Ending Balance	423,478	487,244	582,751

Supplemental Cash Flow Information - Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Net cash provided from operating activities included:
Income taxes paid (refunded from) to taxing authorities	$ 386	$ 675	$ (1,359)
Interest paid	153,249	133,103	116,766
Non-cash investing and financing activities included:
Asset retirement costs (removed) capitalized, net	$ 57,982	$ 24,061	(6,370)
Unproved property purchased with stock			$ 20,000

Commitments and Contingencies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2012 USD ($) Mcfe Contract yr	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Commitments And Contingencies Disclosure [Line Items]
Interest accrues on the alleged damages	12.00%
Estimated damage claimed by plaintiff	$ 140.0
Rent expense under operating leases	$ 13.8	$ 18.6	$ 18.5
Number of drilling rigs used under drilling contracts \| Contract	3
Maximum period of drilling contracts in years \| yr	3
Maximum penalties on early termination of drilling contracts	$ 20.6
Minimum remaining terms of leases on undeveloped acreage, in years	3 years
Maximum remaining terms of leases on undeveloped acreage, in years	5 years
2013 [Member]
Commitments And Contingencies Disclosure [Line Items]
Delivery commitments contingent upon pipeline construction or modification \| Mcfe	12,329
Drilling contracts future minimum commitments	$ 22.1
Amount of agreed upon payments for hydraulic fracturing services	24.0
Amount Of Agreement To Purchase Seismic Data	$ 5.3
2013 [Member] \| Appalachia [Member]
Commitments And Contingencies Disclosure [Line Items]
Delivery commitments contingent upon pipeline construction or modification \| Mcfe	15,123
2014 [Member]
Commitments And Contingencies Disclosure [Line Items]
Delivery commitments contingent upon pipeline construction or modification \| Mcfe	164,918
Drilling contracts future minimum commitments	$ 10.8
Amount Of Agreement To Purchase Seismic Data	$ 3.9
2014 [Member] \| Appalachia [Member]
Commitments And Contingencies Disclosure [Line Items]
Delivery commitments contingent upon pipeline construction or modification \| Mcfe	90,000
2015 [Member]
Commitments And Contingencies Disclosure [Line Items]
Delivery commitments contingent upon pipeline construction or modification \| Mcfe	254,836
Drilling contracts future minimum commitments	$ 6.7
2015 [Member] \| Appalachia [Member]
Commitments And Contingencies Disclosure [Line Items]
Delivery commitments contingent upon pipeline construction or modification \| Mcfe	162,658
Thereafter [Member]
Commitments And Contingencies Disclosure [Line Items]
Delivery commitments contingent upon pipeline construction or modification \| Mcfe	435,000
Thereafter [Member] \| Appalachia [Member]
Commitments And Contingencies Disclosure [Line Items]
Delivery commitments contingent upon pipeline construction or modification \| Mcfe	210,000

Commitments and Contingencies - Future Minimum Rental Commitments (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Schedule Of Future Minimum Sublease Rentals [Line Items]
2013	$ 13,497
2014	13,645
2015	13,363
2016	10,090
2017	5,923
Thereafter	21,628
Operating Lease Obligations	$ 78,146

Commitments and Contingencies - Schedule of Future Minimum Transportation and Gathering Fees (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Contingencies And Commitments [Line Items]
2013	$ 184,802
2014	177,027
2015	182,884
2016	185,709
2017	181,995
Thereafter	825,717
Transportation and Gathering Contracts	$ 1,738,134

Commitments and Contingencies - Future Delivery Commitments (Detail)	Dec. 31, 2012 Mcfe
Contingencies And Commitments [Line Items]
2013	196,532
2014	203,123
2015	147,263
2016	102,318
2017	52,055

Major Customers - Additional Information (Detail) - Customer	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Contract Type [Line Items]
Number of customers accounted more than 10% of total oil and gas revenues	2	2	0
Minimum percentage of oil and gas sales revenue for identifying major customer	10.00%	10.00%	10.00%

Equity Method Investments - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	May 31, 2007	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2006
Schedule of Variable Interest Entities for Loans to Commercial Borrowers [Line Items]
Losses(Income)from equity method investments, net of distributions		$ (5,670,000)	$ (16,871,000)	$ 7,366,000
Net book value of equity investment		$ 132,449,000	138,130,000
Whipstock Natural Gas Services, LLC [Member]
Schedule of Variable Interest Entities for Loans to Commercial Borrowers [Line Items]
Percentage ownership interest		50.00%			50.00%
Cash contributed for investment					$ 11,700,000
Losses(Income)from equity method investments, net of distributions		$ (818,000)	481,000	2,200,000
Reduction in equity to eliminate the profit from gathering and transportation fees		14,000	6,000	1,100,000
Net book value of equity investment		2,000,000
Nora Gathering, LLC [Member]
Schedule of Variable Interest Entities for Loans to Commercial Borrowers [Line Items]
Percentage ownership interest	50.00%
Cash contributed for investment	$ 94,700,000
Losses(Income)from equity method investments, net of distributions		1,200,000	563,000	(684,000)
Reduction in equity to eliminate the profit from gathering and transportation fees		7,500,000	7,700,000	8,800,000
Net book value of equity investment		130,500,000
Cash distribution from investment		$ 12,800,000	$ 23,500,000	$ 0

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=16385135&loc=d3e33749-111570

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.12)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 9
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 19
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 6
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 11
-Article 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Office Closing and Exit Activities - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2010	Dec. 31, 2010
Restructuring Cost and Reserve [Line Items]
Accrued severance costs		$ 5,138,000
Ohio [Member]
Restructuring Cost and Reserve [Line Items]
Accrued severance costs	$ 5,100,000
Ohio [Member] \| Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Increasing in termination costs for stock compensation expense	$ 2,800,000

Office Closing and Exit Activities - Exit Activities Included in Accrued Liabilities in Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Schedule Of Office Closing Costs [Line Items]
Beginning balance	$ 52	$ 1,092	$ 1,568
Accrued one-time termination costs			5,138
Office lease			514
Payments	$ (52)	(1,040)	(6,128)
Ending balance		$ 52	$ 1,092

Selected Quarterly Financial Data (Unaudited) - Additional Information (Detail) $ in Millions	3 Months Ended
	Dec. 31, 2011 USD ($)
Selected Quarterly Financial Information [Line Items]
Prior period adjustment for impairment expense	$ 3.0
Prior period adjustment for deferred tax expense	$ 3.1

Selected Quarterly Financial Data (Unaudited) - Selected Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenues and other income:
Natural gas, NGLs and oil sales	$ 398,688	$ 337,040	$ 298,349	$ 317,617	$ 331,720	$ 304,230	$ 285,353	$ 251,963	$ 1,351,694	$ 1,173,266	$ 823,290
Derivative fair value (loss) income	(5,571)	(40,728)	148,569	(60,833)	(37,879)	65,761	53,039	(40,834)	41,437	40,087	51,634
(Loss) gain on the sale of assets	61,836	949	(3,227)	(10,426)	3,540	203	(1,622)	139	49,132	2,260	76,642
Brokered natural gas, marketing and other	3,085	2,519	5,240	4,597	5,837	3,775	1,506	3,911	15,441	15,029	9,831
Total revenue and other income	458,038	299,780	448,931	250,955	303,218	373,969	338,276	215,179	1,457,704	1,230,642	961,397
Costs and expenses:
Direct operating	30,214	29,628	27,041	29,022	25,918	29,828	28,509	28,717	115,905	112,972	96,274
Transportation, gathering and compression	55,281	51,600	44,744	40,820	34,576	32,431	28,666	25,082	192,445	120,755	62,837
Production and ad valorem taxes	9,881	8,819	11,786	36,634	5,920	7,317	7,550	6,879	67,120	27,666	26,107
Brokered natural gas and marketing	4,994	4,887	6,491	4,062	3,151	3,333	2,981	2,521	20,434	11,986	9,761
Exploration	18,022	14,752	15,517	21,516	24,982	17,606	11,592	27,187	69,807	81,367	60,506
Abandonment and impairment of unproved properties	21,230	40,118	43,641	20,289	27,639	16,627	18,900	16,537	125,278	79,703	49,738
General and administrative	46,582	44,497	44,005	38,729	42,205	35,907	39,120	33,959	173,813	151,191	140,571
Deferred compensation plan	(14,352)	20,052	9,333	(7,830)	9,640	8,717	(5,778)	30,630	7,203	43,209	(10,216)
Interest expense	44,708	43,997	42,888	37,205	34,709	34,181	31,383	24,779	168,798	125,052	90,665
Loss on early extinguishment of debt	11,063					(4)	18,580		11,063	18,576	5,351
Depletion, depreciation and amortization	113,216	123,059	108,802	100,151	97,092	93,619	78,294	72,216	445,228	341,221	275,238
Impairment of proved properties and other	34,273	1,281				38,681			35,554	38,681	6,505
Total costs and expenses	375,112	382,690	354,248	320,598	305,832	318,243	259,797	268,507	1,432,648	1,152,379	821,789
(Loss) income from continuing operations before income taxes	82,926	(82,910)	94,683	(69,643)	(2,614)	55,726	78,479	(53,328)	25,056	78,263	139,608
Income tax (benefit) expense
Current	(1,778)				636	(7)	8		(1,778)	637	(836)
Deferred	31,742	(29,074)	39,007	(27,843)	(425)	22,547	32,695	(19,897)	13,832	34,920	51,746
Total income tax (benefit) expense	29,964	(29,074)	39,007	(27,843)	211	22,540	32,703	(19,897)	12,054	35,557	50,910
(Loss) income from continuing operations					(2,825)	33,186	45,776	(33,431)	13,002	42,706	88,698
Discontinued operations, net of taxes					(164)	1,569	5,517	8,398		15,320	(327,954)
Net (loss) income	$ 52,962	$ (53,836)	$ 55,676	$ (41,800)	$ (2,989)	$ 34,755	$ 51,293	$ (25,033)	$ 13,002	$ 58,026	$ (239,256)
(Loss) income per common share:
Basic-(loss) income from continuing operations					$ (0.02)	$ 0.21	$ 0.28	$ (0.21)	$ 0.08	$ 0.26	$ 0.56
Basic- discontinued operations						0.01	0.04	0.05		0.10	(2.09)
Basic	$ 0.33	$ (0.34)	$ 0.34	$ (0.26)	(0.02)	0.22	0.32	(0.16)	0.08	0.36	(1.53)
Diluted-(loss) income from continuing operations					(0.02)	0.20	0.28	(0.21)	0.08	0.26	0.55
Diluted- discontinued operations						0.01	0.04	0.05		0.10	(2.07)
Diluted	$ 0.32	$ (0.34)	$ 0.34	$ (0.26)	$ (0.02)	$ 0.21	$ 0.32	$ (0.16)	$ 0.08	$ 0.36	$ (1.52)

Supplemental Information on Natural Gas and Oil Exploration, Development and Production Activities (Unaudited) - Capitalized Costs and Accumulated Depreciation, Depletion and Amortization (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Natural gas and oil properties:
Properties subject to depletion	$ 7,368,308	$ 6,035,429	$ 4,742,248
Unproved properties	743,467	748,598	648,143
Total	8,111,775	6,784,027	5,390,391
Accumulated depreciation, depletion and amortization	(2,015,591)	(1,626,461)	(1,306,378)
Net capitalized costs	$ 6,096,184	$ 5,157,566	$ 4,084,013

Supplemental Information on Natural Gas and Oil Exploration, Development and Production Activities (Unaudited) - Costs Incurred for Property Acquisition, Exploration and Development (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Acquisitions:
Unproved leasehold			$ 3,697
Proved oil and gas properties			130,767
Asset retirement obligations			556
Acreage purchases	$ 188,843	$ 220,576	151,572
Development	1,049,129	1,007,049	727,720
Exploration:
Drilling	309,816	226,920	50,433
Expense	65,758	77,259	56,298
Stock-based compensation expense	4,049	4,108	4,209
Gas gathering facilities:
Development	41,035	53,387	19,627
Subtotal	1,658,630	1,589,299	1,144,879
Asset retirement obligations	57,982	24,061	(6,370)
Total - continuing operations	1,716,612	1,613,360	1,138,509
Discontinued operations		3,241	73,369
Total costs incurred	$ 1,716,612	$ 1,616,601	$ 1,211,878

Supplemental Information on Natural Gas and Oil Exploration, Development and Production Activities (Unaudited) - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2012 USD ($) MMcfe $ / BOO $ / bbl $ / Mcf MBbls MMcf Mcf	Dec. 31, 2011 $ / BOO $ / bbl $ / Mcf MBbls MMcf Mcf	Dec. 31, 2010 $ / BOO $ / bbl $ / Mcf MBbls MMcf Mcf
Reserve Quantities [Line Items]
Percentage of proved resources reviewed by consultants	0.93%
Variance in reserve estimates	less than 5%
Scheduled to be drilling period maximum for undeveloped reserves	Scheduled to be drilled within five years
Proved reserves from drilling activities and evaluations of proved areas \| Mcf	1,800,000,000	1,500,000,000	1,400,000,000
Reserve attributable to natural gas	56.00%	87.00%	77.00%
Positive performance revisions for ethane reserves \| Mcf	307,000,000
Revisions of previous estimates \| Mcf	109,000,000	225,000,000	148,600,000
Positive performance revisions for natural gas properties \| Mcf			40,500,000
Cost spent on undeveloped reserves transferred to developed reserves \| $	$ 451.9
Volume of Mmcfe of reserves that have been reported for five or more years included in proved undeveloped reserves, approximately \| MMcfe	10,888
Percentage of proved undeveloped reserves	10.00%
Period for which the reserves have been reported to be included in proved undeveloped reserves	Five or more years
Maximum [Member]
Reserve Quantities [Line Items]
Percentage of proved undeveloped reserves	1.00%
Year 2013 [Member]
Reserve Quantities [Line Items]
Estimated future development costs \| $	$ 453.7
Year 2014 [Member]
Reserve Quantities [Line Items]
Estimated future development costs \| $	506.1
Year 2015 [Member]
Reserve Quantities [Line Items]
Estimated future development costs \| $	$ 1,100.0
Crude Oil [Member]
Reserve Quantities [Line Items]
Estimate reserve information average realized prices \| $ / BOO	86.91	85.59	72.51
Proved reserves from drilling activities and evaluations of proved areas	15,131	4,915	4,663
Revisions of previous estimates	2,316	6,522	(2,672)
NGLs [Member]
Reserve Quantities [Line Items]
Estimate reserve information average realized prices \| $ / bbl	32.23	49.24	39.14
Proved reserves from drilling activities and evaluations of proved areas	113,392	26,591	48,792
Positive performance revisions for ethane reserves	51,200
Revisions of previous estimates	3,036	18,627	26,832
Natural Gas [Member]
Reserve Quantities [Line Items]
Estimate reserve information average realized prices \| $ / Mcf	2.75	3.55	3.70
Proved reserves from drilling activities and evaluations of proved areas \| MMcf	996,059	1,304,324	1,089,632
Revisions of previous estimates \| MMcf	76,925	73,643	3,599
Crude Oil and NGL [Member]
Reserve Quantities [Line Items]
Benchmark price used for calculating average realized prices \| $ / bbl	95.05	95.61	79.81
Natural Gas, Per Thousand Cubic Feet [Member]
Reserve Quantities [Line Items]
Benchmark price used for calculating average realized prices \| $ / Mcf	2.76	4.12	4.38

Supplemental Information on Natural Gas and Oil Exploration, Development and Production Activities (Unaudited) - Proved Developed and Undeveloped Reserves (Detail)	12 Months Ended
	Dec. 31, 2012 MBbls MMcf Mcf	Dec. 31, 2011 MBbls MMcf Mcf	Dec. 31, 2010 MBbls MMcf Mcf
Reserve Quantities [Line Items]
Revisions \| Mcf	109,000,000	225,000,000	148,600,000
Extensions, discoveries and additions \| Mcf	1,800,000,000	1,500,000,000	1,400,000,000
Proved Undeveloped Reserves:
Proved undeveloped reserves	3,048,068	2,652,687
Natural Gas [Member]
Reserve Quantities [Line Items]
Beginning Balance	4,009,676	3,566,526	2,614,717
Revisions	76,925	73,643	3,599
Extensions, discoveries and additions	996,059	1,304,324	1,089,632
Purchases			124,981
Property sales	(73,429)	(777,816)	(124,369)
Production	(216,555)	(157,001)	(142,034)
Ending Balance	4,792,676	4,009,676	3,566,526
Proved Developed Reserves:
Proved developed reserves	2,373,604	1,907,209	1,762,766
Proved Undeveloped Reserves:
Proved undeveloped reserves	2,419,072	2,102,467	1,803,760
NGLs [Member]
Reserve Quantities [Line Items]
Beginning Balance \| MBbls	142,515	122,722	51,588
Revisions \| MBbls	3,036	18,627	26,832
Extensions, discoveries and additions \| MBbls	113,392	26,591	48,792
Purchases \| MBbls
Property sales \| MBbls	(11,575)	(19,852)
Production \| MBbls	(6,969)	(5,573)	(4,490)
Ending Balance \| MBbls	240,399	142,515	122,722
Proved Developed Reserves:
Proved developed reserves \| MBbls	154,984	64,472	53,071
Proved Undeveloped Reserves:
Proved undeveloped reserves \| MBbls	85,415	78,043	69,651
Crude Oil [Member]
Reserve Quantities [Line Items]
Beginning Balance \| MBbls	31,532	23,239	34,082
Revisions \| MBbls	2,316	6,522	(2,672)
Extensions, discoveries and additions \| MBbls	15,131	4,915	4,663
Purchases \| MBbls
Property sales \| MBbls	(1,046)	(1,176)	(10,865)
Production \| MBbls	(2,851)	(1,968)	(1,969)
Ending Balance \| MBbls	45,082	31,532	23,239
Proved Developed Reserves:
Proved developed reserves \| MBbls	25,667	17,872	17,050
Proved Undeveloped Reserves:
Proved undeveloped reserves \| MBbls	19,415	13,660	6,189
Natural Gas Equivalents [Member]
Reserve Quantities [Line Items]
Beginning Balance	5,053,961	4,442,290	3,128,739
Revisions	109,036	224,542	148,558
Extensions, discoveries and additions	1,767,202	1,493,357	1,410,359
Purchases			124,981
Property sales	(149,153)	(903,983)	(189,558)
Production	(275,476)	(202,245)	(180,789)
Ending Balance	6,505,570	5,053,961	4,442,290
Proved Developed Reserves:
Proved developed reserves	3,457,502	2,401,274	2,183,488
Proved Undeveloped Reserves:
Proved undeveloped reserves	3,048,068	2,652,687	2,258,802

Supplemental Information on Natural Gas and Oil Exploration, Development and Production Activities (Unaudited) - Proved Developed and Undeveloped Reserves (Parenthetical) (Detail) - MMcf	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2010
Reserve Quantities [Line Items]
Conversion Rate of Oil and NGLS to MCFE	One barrel equals six mcf
Proved undeveloped reserves related to discontinued operations		408,710
Proved reserves related to discontinued operations		906,371

Supplemental Information on Natural Gas and Oil Exploration, Development and Production Activities (Unaudited) - Changes in Proved Undeveloped Reserves for 2012 (Mmcfe) (Detail)	12 Months Ended
	Dec. 31, 2012 MMcf
Reserve Quantities [Line Items]
Beginning proved undeveloped reserves-2011	2,652,687
Undeveloped reserves transferred to developed	(412,502)
Revisions	(119,430)
Purchases/sales
Extension and discoveries	927,313
Ending proved undeveloped reserves-2012	3,048,068

Supplemental Information on Natural Gas and Oil Exploration, Development and Production Activities (Unaudited) - Standardized Measure of Discounted Future Net Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Reserve Quantities [Line Items]
Future cash inflows	$ 24,851,589	$ 23,954,048
Future costs:
Production	(10,028,359)	(5,113,902)
Development	(3,667,672)	(3,230,577)
Future net cash flows before income taxes	11,155,558	15,609,569
Future income tax expense	(3,081,918)	(5,040,104)
Total future net cash flows before 10% discount	8,073,640	10,569,465
10% annual discount	(4,849,835)	(6,054,568)
Standardized measure of discounted future net cash flows	$ 3,223,805	$ 4,514,897

Supplemental Information on Natural Gas and Oil Exploration, Development and Production Activities (Unaudited) - Changes in Discounted Future Net Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revisions of previous estimates
Changes in prices	$ (2,498,616)	$ 422,080	$ 957,994
Revisions in quantities	88,190	326,240	190,874
Changes in future development costs	(354,766)	(346,378)	(474,058)
Accretion of discount	608,381	464,735	259,280
Net change in income taxes	832,830	(400,690)	(666,517)
Purchases of reserves in place			160,580
Additions to proved reserves from extensions, discoveries and improved recovery	1,429,340	2,169,706	1,812,077
Production	(976,224)	(911,873)	(744,354)
Development costs incurred during the period	562,329	513,551	298,624
Sales of natural gas and oil	(120,637)	(1,313,401)	(243,551)
Timing and other	(861,919)	111,801	(162,912)
Net change for the year	(1,291,092)	1,035,771	1,388,037
Beginning of year	4,514,897	3,479,126	2,091,089
End of year	$ 3,223,805	$ 4,514,897	$ 3,479,126