Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 28, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'QUICKSILVER RESOURCES INC | ' | ' |
Entity Central Index Key | '0001060990 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 177,191,991 | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Public Float | ' | ' | $209,743,745 |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Production | ' | ' | ' | ' | ' | ' | ' | ' | $463,491,000 | $630,947,000 | $800,543,000 | ||||||||||
Sales of purchased natural gas | ' | ' | ' | ' | ' | ' | ' | ' | 64,913,000 | 62,405,000 | 86,645,000 | ||||||||||
Net derivative gains | ' | ' | ' | ' | ' | ' | ' | ' | 29,928,000 | 11,444,000 | 51,780,000 | ||||||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | 3,230,000 | 4,242,000 | 4,655,000 | ||||||||||
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 561,562,000 | 709,038,000 | 943,623,000 | ||||||||||
Operating expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Lease operating | ' | ' | ' | ' | ' | ' | ' | ' | 82,265,000 | 95,333,000 | 102,874,000 | ||||||||||
Gathering, processing and transportation | ' | ' | ' | ' | ' | ' | ' | ' | 148,569,000 | 166,316,000 | 190,560,000 | ||||||||||
Production and ad valorem taxes | ' | ' | ' | ' | ' | ' | ' | ' | 17,066,000 | 25,395,000 | 29,226,000 | ||||||||||
Cost of purchased natural gas | ' | ' | ' | ' | ' | ' | ' | ' | 64,840,000 | 62,041,000 | 85,398,000 | ||||||||||
Depletion, depreciation and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 62,612,000 | 163,624,000 | 225,763,000 | ||||||||||
Impairment | ' | ' | ' | ' | ' | ' | ' | ' | 1,863,000 | 2,625,928,000 | 107,059,000 | ||||||||||
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 55,306,000 | 75,697,000 | 79,582,000 | ||||||||||
Other operating | ' | ' | ' | ' | ' | ' | ' | ' | 3,725,000 | 1,562,000 | 557,000 | ||||||||||
Total expense | ' | ' | ' | ' | ' | ' | ' | ' | 436,246,000 | 3,215,896,000 | 821,019,000 | ||||||||||
Gain on Tokyo Gas Transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ||||||||||
Crestwood earn-out | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ||||||||||
Operating income (loss) | 13,575,000 | [1] | 60,049,000 | [2] | 394,894,000 | [3] | -3,874,000 | -468,213,000 | [4] | -576,551,000 | [5] | -1,153,012,000 | [6] | -267,985,000 | [7] | 464,644,000 | -2,465,761,000 | 122,604,000 | |||
Loss from earnings of BBEP | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -8,439,000 | ||||||||||
Other income (expense) - net | ' | ' | ' | ' | ' | ' | ' | ' | -17,384,000 | 1,108,000 | 219,768,000 | ||||||||||
Fortune Creek accretion | ' | ' | ' | ' | ' | ' | ' | ' | -19,245,000 | -19,472,000 | 0 | ||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -251,847,000 | -164,051,000 | -186,024,000 | ||||||||||
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 176,168,000 | -2,648,176,000 | 147,909,000 | ||||||||||
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -14,550,000 | 295,570,000 | -57,863,000 | ||||||||||
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 161,618,000 | -2,352,606,000 | 90,046,000 | ||||||||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Net change in derivative fair value - net of income tax | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 74,384,000 | 156,160,000 | ||||||||||
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | -4,681,000 | 412,000 | -13,364,000 | ||||||||||
Reclassification adjustments related to settlements of derivative contracts into production revenue- net of income tax | ' | ' | ' | ' | ' | ' | ' | ' | -46,931,000 | -128,161,000 | -58,125,000 | ||||||||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -51,612,000 | -53,365,000 | 84,671,000 | ||||||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 110,006,000 | -2,405,971,000 | 174,717,000 | ||||||||||
Earnings (loss) per common share - basic | ($0.18) | $0.06 | $1.37 | ($0.35) | ($3.22) | ($4.65) | ($4.72) | ($1.24) | $0.92 | ($13.83) | $0.53 | ||||||||||
Earnings (loss) per common share - diluted | ($0.18) | $0.06 | $1.37 | ($0.35) | ($3.22) | ($4.65) | ($4.72) | ($1.24) | $0.92 | [8] | ($13.83) | [8] | $0.52 | [8] | |||||||
Tokyo Gas [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Operating expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Gain on Tokyo Gas Transaction | ' | ' | 333,200,000 | ' | ' | ' | ' | ' | 339,328,000 | 0 | 0 | ||||||||||
Crestwood earn-out | ' | ' | ' | ' | ' | ' | ' | ' | 339,328,000 | ' | ' | ||||||||||
kwk_CrestwoodLP [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Operating expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Crestwood earn-out | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $41,097,000 | $0 | ||||||||||
[1] | Operating income for the fourth quarter of 2013 includes a decrease of $5.9 million to correct for immaterial items which pertain to prior 2013 quarters. These items include an adjustment to non-cash expense to settle litigation recognized in the first quarter of 2013 of $3.0 million, non-cash decrease in the gain related to the Tokyo Gas Transaction of $1.7 million arising from a change in the amount of surface real estate conveyed to TGBR, increase in the amortization of deferred financing costs and original issue discount of $0.8 million and strategic transaction fees of $0.5 million arising in the second quarter of 2013. | ||||||||||||||||||||
[2] | Operating income for the third quarter of 2013 includes an increase of $8.2 million to correct for immaterial items which pertain to earlier quarters in 2013, comprised of an increase to the gain related to the Tokyo Gas Transaction of $7.8 million arising from a change to the amount of unevaluated properties allocated to TGBR | ||||||||||||||||||||
[3] | Operating income for the second quarter of 2013 includes gains of $333.2 million related to the Tokyo Gas Transaction which was subsequently adjusted in later quarters to be a gain of $339.3 million. The period also includes an immaterial correction of $3.6 million for equity-based compensation granted to retirement-eligible employees whose awards required no future service at the time of grant but which expense was being recognized over multiple periods. The impact to the first quarter of 2013 expense was $1.2 million and the impact to 2012 and prior years was $2.4 million. | ||||||||||||||||||||
[4] | Operating loss for the fourth quarter of 2012 includes charges for impairment of $451.5 million and $102.8 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $2.9 million impairment charge related to non-oil and gas properties. Net loss includes a valuation allowance for Canada of $61.3 million. | ||||||||||||||||||||
[5] | Operating loss for the third quarter of 2012 includes charges for impairment of $479.9 million and $66.3 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $4.9 million impairment charge for other property and equipment in Colorado. Net loss includes a valuation allowance for the U.S. of | ||||||||||||||||||||
[6] | Operating loss for the second quarter of 2012 includes charges for impairment of $1,042.7 million and $157.0 million for our U.S. and Canadian oil and gas properties, respectively. | ||||||||||||||||||||
[7] | Operating loss for the first quarter of 2012 includes charges for impairment of $178.0 million and $139.9 million for our U.S. and Canadian oil and gas properties, respectively. | ||||||||||||||||||||
[8] | For 2013, 5.6 million shares associated with our stock options and 0.2 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. For 2012, 5.0 million shares associated with our stock options and 0.3 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. For 2011, the effects of 9.8 million shares associated with our convertible debentures for the period outstanding were antidilutive, and 1.9 million shares associated with our stock options and 0.1 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | $89,103 | $4,951 | $13,146 | $54,937 |
Marketable securities | 166,343 | 0 | ' | ' |
Cash, Cash Equivalents, and Short-term Investments | 255,446 | 4,951 | ' | ' |
Accounts receivable - net of allowance for doubtful accounts | 58,645 | 64,149 | ' | ' |
Derivative assets at fair value | 57,523 | 113,367 | ' | ' |
Other current assets | 22,346 | 25,046 | ' | ' |
Total current assets | 393,960 | 207,513 | ' | ' |
Property, plant and equipment - net | ' | ' | ' | ' |
Oil and gas properties, full cost method (including unevaluated costs of $221,605 and $307,267, respectively) | 640,443 | 780,960 | ' | ' |
Other property and equipment | 220,362 | 248,098 | ' | ' |
Property, plant and equipment - net | 860,805 | 1,029,058 | ' | ' |
Derivative assets at fair value | 73,357 | 105,270 | ' | ' |
Other assets | 41,604 | 39,947 | ' | ' |
Total assets | 1,369,726 | 1,381,788 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Accounts payable | 28,822 | 37,131 | ' | ' |
Accrued liabilities | 102,850 | 130,660 | ' | ' |
Derivative liabilities at fair value | 3,125 | 0 | ' | ' |
Total current liabilities | 134,797 | 167,791 | ' | ' |
Long-term debt | 1,988,946 | 2,063,206 | ' | ' |
Partnership liability | 126,132 | 130,912 | ' | ' |
Asset retirement obligations | 106,256 | 115,949 | ' | ' |
Derivative liabilities at fair value | 323 | 17,485 | ' | ' |
Other liabilities | 19,242 | 19,242 | ' | ' |
Stockholders' equity | ' | ' | ' | ' |
Preferred stock, par value $0.01, 10,000,000 shares authorized, none outstanding | 0 | 0 | ' | ' |
Common stock, $0.01 par value, 400,000,000 shares authorized, and 183,994,879 and 179,015,118 shares issued, respectively | 1,840 | 1,790 | ' | ' |
Additional paid in capital | 770,092 | 751,394 | ' | ' |
Treasury stock of 6,698,640 and 5,921,102 shares, respectively | -51,422 | -49,495 | ' | ' |
Accumulated other comprehensive income | 109,881 | 161,493 | ' | ' |
Retained deficit | -1,836,361 | -1,997,979 | ' | ' |
Total stockholders' equity | -1,005,970 | -1,132,797 | ' | ' |
Total liabilities and stockholders' equity | $1,369,726 | $1,381,788 | ' | ' |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Unevaluated costs of oil and gas properties | $221,605 | $307,267 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 400,000,000 | 400,000,000 |
Common stock, shares issued | 183,994,879 | 179,015,118 |
Treasury stock, shares | 6,698,640 | 5,921,102 |
Consolidated_Statements_Of_Equ
Consolidated Statements Of Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income [Member] | Retained Earnings (Defecit) [Member] | Total [Member] |
In Thousands | |||||||
Balances at Dec. 31, 2010 | ' | $1,755 | $714,869 | ($41,487) | $130,187 | $264,581 | $1,069,905 |
Net income (loss) | 90,046 | ' | ' | ' | ' | 90,046 | 90,046 |
Hedge settlements reclassified into earnings from AOCI, net of income tax | ' | ' | ' | ' | 58,125 | ' | 58,125 |
Net change in derivative fair value, net of income tax | 156,160 | ' | ' | ' | 156,160 | ' | 156,160 |
Foreign currency translation adjustment | -13,364 | ' | ' | ' | -13,364 | ' | -13,364 |
Issuance & vesting of stock compensation | ' | -13 | -20,849 | -4,864 | ' | ' | -15,998 |
Stock option exercises | ' | 2 | 1,297 | ' | ' | ' | 1,299 |
Balances at Dec. 31, 2011 | ' | 1,770 | 737,015 | -46,351 | 214,858 | 354,627 | 1,261,919 |
Net income (loss) | -2,352,606 | ' | ' | ' | ' | -2,352,606 | -2,352,606 |
Hedge settlements reclassified into earnings from AOCI, net of income tax | ' | ' | ' | ' | 128,161 | ' | 128,161 |
Net change in derivative fair value, net of income tax | 74,384 | ' | ' | ' | 74,384 | ' | 74,384 |
Foreign currency translation adjustment | 412 | ' | ' | ' | 412 | ' | 412 |
Issuance & vesting of stock compensation | ' | -19 | -14,369 | -3,144 | ' | ' | -11,244 |
Stock option exercises | ' | 1 | 10 | ' | ' | ' | 11 |
Balances at Dec. 31, 2012 | ' | 1,790 | 751,394 | -49,495 | 161,493 | -1,997,979 | -1,132,797 |
Net income (loss) | 161,618 | ' | ' | ' | ' | 161,618 | 161,618 |
Hedge settlements reclassified into earnings from AOCI, net of income tax | ' | ' | ' | ' | 46,931 | ' | 46,931 |
Net change in derivative fair value, net of income tax | 0 | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | -4,681 | ' | ' | ' | -4,681 | ' | -4,681 |
Issuance & vesting of stock compensation | ' | -50 | -18,698 | -1,927 | ' | ' | -16,821 |
Balances at Dec. 31, 2013 | ' | $1,840 | $770,092 | ($51,422) | $109,881 | ($1,836,361) | ($1,005,970) |
Consolidated_Statements_Of_Equ1
Consolidated Statements Of Equity (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' |
Income tax effect related to hedge derivative contract settlements reclassified into earnings from accumulated other comprehensive income | $21,581 | $66,417 | $26,679 |
Income tax effect related to net change in derivative fair value | $0 | $36,206 | $73,339 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Operating activities: | ' | ' | ' |
Net income (loss) | $161,618,000 | ($2,352,606,000) | $90,046,000 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' |
Depletion, depreciation and accretion | 62,612,000 | 163,624,000 | 225,763,000 |
Impairment expense | 1,863,000 | 2,625,928,000 | 107,059,000 |
Write-off of MLP related fees and expenses | 0 | 7,505,000 | 0 |
Gain on Tokyo Gas Transaction | ' | ' | 0 |
Crestwood earn-out | ' | ' | 0 |
Deferred income tax expense (benefit) | -21,581,000 | 289,981,000 | -64,492,000 |
Non-cash (gain) loss from hedging and derivative activities | 3,904,000 | 57,826,000 | -51,780,000 |
Stock-based compensation | 17,979,000 | 22,246,000 | 20,862,000 |
Non-cash interest expense | 26,920,000 | 9,854,000 | 16,510,000 |
Fortune Creek accretion | 19,245,000 | 19,472,000 | 0 |
Gain on disposition of BBEP units | 0 | 0 | -217,893,000 |
Loss from BBEP in excess of cash distributions | 0 | 0 | 28,269,000 |
Other | 6,783,000 | 1,037,000 | 1,311,000 |
Changes in assets and liabilities | ' | ' | ' |
Accounts receivable | -3,994,000 | 30,950,000 | -31,803,000 |
Prepaid expenses and other assets | 322,000 | -4,435,000 | -6,017,000 |
Accounts payable | -7,133,000 | -8,895,000 | -11,434,000 |
Income taxes payable | 7,828,000 | 1,183,000 | -4,803,000 |
Accrued and other liabilities | -31,900,000 | -14,884,000 | 22,471,000 |
Net cash provided by (used in) operating activities | -51,700,000 | 227,727,000 | 253,053,000 |
Investing activities: | ' | ' | ' |
Capital expenditures | -101,288,000 | -485,479,000 | -690,607,000 |
Proceeds from Asset Sales | ' | 41,097,000 | ' |
Proceeds from sale of BBEP units | 0 | 0 | 272,965,000 |
Proceeds from sale of properties and equipment | 7,171,000 | 72,725,000 | 4,163,000 |
Purchases of marketable securities | -213,738,000 | 0 | 0 |
Maturities and sales of marketable securities | 47,603,000 | 0 | 0 |
Net cash provided by (used in) investing activities | 246,044,000 | -371,657,000 | -413,479,000 |
Financing activities: | ' | ' | ' |
Issuance of debt | 1,237,352,000 | 467,959,000 | 855,822,000 |
Repayments of debt | -1,308,382,000 | -310,430,000 | -843,108,000 |
Debt issuance costs paid | -26,296,000 | -3,022,000 | -12,506,000 |
Partnership funds received | 0 | 0 | 122,913,000 |
Distribution of Fortune Creek Partnership funds | -14,965,000 | -14,285,000 | 0 |
Proceeds from exercise of stock options | 0 | 11,000 | 1,299,000 |
Purchase of treasury stock | -1,927,000 | -3,144,000 | -4,864,000 |
Net cash provided by (used in) financing activities | -114,218,000 | 137,089,000 | 119,556,000 |
Effect of exchange rate changes in cash | 4,026,000 | -1,354,000 | -921,000 |
Net change in cash and cash equivalents | 84,152,000 | -8,195,000 | -41,791,000 |
Cash and cash equivalents at beginning of period | 4,951,000 | 13,146,000 | 54,937,000 |
Cash and cash equivalents at end of period | 89,103,000 | 4,951,000 | 13,146,000 |
Synergy [Member] | ' | ' | ' |
Investing activities: | ' | ' | ' |
Proceeds from Asset Sales | 42,297,000 | 0 | 0 |
Tokyo Gas [Member] | ' | ' | ' |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' |
Gain on Tokyo Gas Transaction | -339,328,000 | 0 | 0 |
Crestwood earn-out | -339,328,000 | ' | ' |
Investing activities: | ' | ' | ' |
Proceeds from Asset Sales | 463,999,000 | 0 | 0 |
kwk_CrestwoodLP [Member] | ' | ' | ' |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' |
Crestwood earn-out | 0 | -41,097,000 | 0 |
Investing activities: | ' | ' | ' |
Proceeds from Asset Sales | $0 | $41,097,000 | $0 |
Nature_Of_Operations
Nature Of Operations | 12 Months Ended | |
Dec. 31, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Nature Of Operations | ' | |
NATURE OF OPERATIONS | ||
We are an independent oil and gas company incorporated in the state of Delaware and headquartered in Fort Worth, Texas. We engage in the acquisition, exploration, development, production and sale of natural gas, NGLs and oil in North America. As of December 31, 2013, our significant oil and gas reserves and operations are located in: | ||
• | Texas | |
• | Alberta | |
• | British Columbia | |
We have offices located in: | ||
• | Fort Worth, Texas | |
• | Glen Rose, Texas | |
• | Calgary, Alberta | |
Our results of operations are largely dependent on the difference between the prices received for our natural gas, NGL and oil products and the cost to find, develop, produce and market such resources. Natural gas, NGL and oil prices are subject to fluctuations in response to changes in supply, market uncertainty and a variety of other factors beyond our control. These factors include worldwide political instability, quantities of natural gas in storage, foreign supply of natural gas and oil, the price of foreign imports, the level of consumer demand and the price of available alternative fuels. We actively manage a portion of the financial risk relating to natural gas, NGL and oil price volatility through derivatives. | ||
Due to the depressed price environment for natural gas, we incurred significant impairments in 2012 on our oil and gas assets and in turn, tax valuation allowances which contributed to the consolidated net loss for 2012. At December 31, 2013, we continue to have significant indebtedness, whose interest costs consume significant amounts of our operating cash flow. As more fully described in Note 11, at December 31, 2013 we did not meet an incurrence test in our indentures which is not an event of default, but as a result, we are limited in our ability to, among other things, incur additional debt. We do retain, however, the ability to utilize the full borrowing capacity under our Combined Credit Agreements and to refinance existing debt. Not meeting this ratio does not represent an event of default in our indentures. At December 31, 2013, there was $97.6 million available from the $350 million global borrowing base under the Combined Credit Agreements. The next semi-annual redetermination of the Combined Credit Agreement is scheduled for April 2014. We have made only preliminary strides in the April 2014 redetermination process and cannot yet determine what, if any, adjustment occurs to the borrowing base. We anticipate our 2014 capital program, contractual commitments and recurring operating needs will be funded by cash flow from operations or cash on hand and supplemented by proceeds from asset sales. While we believe we have sufficient liquidity even without completing the Southwestern Transaction (as described in Note 3) completing it will improve our expected liquidity. | ||
Given the capital intensive nature of our business, the amount of capital expenditures we deploy or do not deploy would have a significant impact on our EBITDA in 2015 and future periods. We project that we will comply with the financial maintenance covenants associated with our Combined Credit Agreements in 2014, however we do not expect to exceed the required levels by a significant margin, and we may have to reduce costs in response to commodity price changes or other factors should they arise. Further, in order to comply with the requirements under our debt agreements, including the financial maintenance covenants, we may need to alter our capital program, adjust our incentive awards and repay a portion of our senior indebtedness. Note 11 contains additional discussion of our covenant requirements. In addition, due to more stringent financial maintenance covenants that take effect in 2015, absent an improvement in natural gas and NGL prices, significant deleveraging from a strategic transaction, reduced interest costs on our debt through refinancing or significant reductions to our operating costs, we may not comply with our interest coverage requirement under our Combined Credit Agreements and expect that we would need to seek additional covenant relief under the Combined Credit Agreements. We can provide no assurance that we would be successful in obtaining waivers or amendments. We are currently pursuing a transaction involving our Horn River Asset. Any transaction involving our Horn River Asset is likely to result in cash proceeds to us and a reduction in our capital expenditures and liquidity requirements, however we may be unsuccessful in completing such transaction. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies | ' |
SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | |
Our consolidated financial statements include our accounts and those of all of our majority-owned subsidiaries, companies over which we exercise control through majority voting rights or other means of control and variable interest entities of which we are the primary beneficiary. We eliminate all inter-company balances and transactions in preparing consolidated financial statements. We account for our ownership in unincorporated partnerships and companies, including our prior interest in BBEP, under the equity method when we have significant influence over those entities, but because of terms of the ownership agreements, we do not meet the criteria for consolidation of the entities. | |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires our management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during each reporting period. Management believes its estimates and assumptions are reasonable, but such estimates and assumptions are subject to a number of risks and uncertainties, which may cause actual results to differ materially from management’s estimates. | |
Significant estimates underlying these financial statements include the estimated quantities of our proved reserves (including the associated future net cash flows from those proved reserves and costs to develop those reserves) used to compute depletion expense, the full cost ceiling limitation and estimates of current revenue. Other estimates that require assumptions concerning future events and substantial judgment include the estimated fair value of derivatives, asset retirement obligations and stock-based compensation. Income taxes also involve the use of considerable judgment in the estimation and evaluation of deferred income tax assets and our ability to recover operating loss carry-forwards and assessment of uncertain tax positions. | |
Cash Equivalents | |
Cash equivalents consist of time deposits and liquid debt investments with original maturities of three months or less at the time of purchase. | |
Accounts Receivable | |
We sell our production to various purchasers, each of which is reviewed as to credit worthiness prior to the extension of credit and on a regular basis thereafter. Although we rarely require collateral, we require appropriate credit ratings and, in some instances, obtain parental guarantees. Receivables are generally collected within 30 to 60 days. When collections of specific amounts due are no longer reasonably assured, we establish an allowance for doubtful accounts though we have not had a significant instance of nonpayment. During 2013, one purchaser individually accounted for 18% of cash collected for our production revenue. During 2012, two purchasers individually accounted for 21% and 15% of cash collected for our production revenue. During 2011, two purchasers accounted for 15% and 11% of cash collected for our production revenue. | |
Hedging and Derivatives | |
We enter into derivatives to mitigate risk associated with the prices received from our natural gas, NGL and oil production. We may also utilize derivatives to hedge the risk associated with interest rates on our outstanding debt. All derivatives are recognized as either an asset or liability on the balance sheet measured at their fair value determined by reference to published future market prices and interest rates. | |
Effective December 31, 2012, we discontinued the use of hedge accounting on all existing hedge contracts. Net deferred hedge gains deferred in AOCI associated with these contracts as of December 31, 2012 are reclassified to earnings during the same periods in which the hedged transactions are recognized in our earnings. Since then, we recognize changes in the fair values of derivative contracts as gains or losses in the earnings of the periods in which they occur. | |
We enter into derivatives with counterparties who are our lenders at the inception of the derivative. Our credit facility provides for collateralization of amounts outstanding from our derivatives in addition to amounts outstanding under the facility. Additionally, default on any of our obligations under derivatives with counterparty lenders could result in acceleration of the amounts outstanding under the credit facility. Our credit facility and our internal credit policies require that any counterparties, including facility lenders, with whom we enter into commodity derivatives have credit ratings that meet or exceed BBB- or Baa3 from Standard and Poor’s or Moody’s, respectively. The fair value for each derivative takes credit risk into consideration, whether it be our counterparties’ or our own. Derivatives are classified as current or non-current derivative assets and liabilities, based on the expected timing of settlements. | |
Investments in Equity Affiliates | |
During December 2011, we liquidated our investment in BBEP which we had accounted for using the equity method. Prior to this liquidation, we reviewed our investment for impairment whenever events or circumstances indicated that the investment’s carrying amount may not be recoverable. We recorded our portion of BBEP’s earnings during the quarter in which its financial statements became publicly available. Consequently, our 2011 annual results of operations include BBEP’s earnings for the 12 months ended September 30, 2011. Note 7 contains more information on our BBEP investment. | |
Property, Plant, and Equipment | |
We follow the full cost method in accounting for our oil and gas properties. Under the full cost method, all costs associated with the acquisition, exploration and development of oil and gas properties are capitalized and accumulated in separate Canadian and U.S. cost centers. This includes any internal costs that are directly related to development and exploration activities, but does not include any costs related to production, general corporate overhead or similar activities. Proceeds received from disposals reduce the accumulated cost except when the sale represents a significant disposal of reserves, in which case a gain or loss is calculated and recognized. The sum of net capitalized costs and estimated future development and dismantlement costs for each cost center is depleted on the equivalent unit-of-production method, based on proved reserves. We may, at our option, exclude costs associated with unevaluated properties from amounts subject to depletion. | |
Under the full cost method, net capitalized costs are limited to the lower of unamortized cost reduced by the related net deferred tax liability and asset retirement obligations (collectively, “the cost center ceiling”). The cost center ceiling equals the sum of (1) estimated future net revenue from proved reserves, discounted at 10% per annum, including the effects of derivatives that are accounted for as hedges of our oil and gas revenue, (2) the cost of properties not being amortized, (3) the lower of cost or market value of unproved properties included in the cost being amortized, less (4) income tax effects related to differences between the book and tax basis of the natural gas and oil properties. If the net book value reduced by the related net deferred income tax liability, unless in a valuation allowance, and asset retirement obligations exceeds the cost center ceiling limitation, a non-cash impairment charge is required. Note 8 to these financial statements contains further discussion of the ceiling test. | |
Other properties and equipment are stated at original cost and depreciated using the straight-line method based on estimated useful lives ranging from five to forty years. If indicators of impairment are identified, an undiscounted cash flow analysis is performed to determine if an impairment exists. If the undiscounted cash flow analysis indicates an impairment, a discounted cash flow analysis is performed and the asset is reduced to the indicated value. | |
Inventory | |
Inventories are primarily comprised of materials and parts including oil and gas drilling or repair items such as tubing, casing, chemicals, operating supplies and ordinary maintenance materials and parts. The materials, parts and supplies inventory is primarily acquired for use in future drilling operations or repair operations and is carried at the lower of cost or fair value, on a first-in, first-out cost basis. Fair value represents net realizable value, which is the amount that we are allowed to bill to the joint accounts under joint operating agreements to which we are a party. Impairments for materials and supplies inventories are recorded as lease operating expense in the accompanying consolidated statements of operations. | |
Asset Retirement Obligations | |
We record the fair value of the liability for asset retirement obligations in the period in which it is legally or contractually incurred. Upon initial recognition of the asset retirement liability, an asset retirement cost is capitalized by increasing the carrying amount of the asset by the same amount as the liability. In periods subsequent to initial measurement, the asset retirement cost is recognized as expense through depletion or depreciation over the asset’s useful life. Changes in the liability for the asset retirement obligations are recognized for (1) the passage of time and (2) revisions to either the timing or the amount of estimated cash flows. Accretion expense is recognized for the impacts of increasing the discounted liability to its estimated settlement value. | |
Revenue Recognition | |
Revenue is recognized when title to the products transfers to the purchaser. We use the “sales method” to account for our production revenue, whereby we recognize revenue on all production sold to our purchasers, regardless of whether the sales are proportionate to our ownership in the property. A receivable or liability is recognized only to the extent that we have an imbalance on a specific property greater than the expected remaining proved reserves. As of December 31, 2013 and 2012, our aggregate production imbalances were not material. | |
Environmental Compliance and Remediation | |
Environmental compliance costs, including ongoing maintenance and monitoring, are expensed as incurred. Those environmental remediation costs which improve a property are capitalized. | |
Debt | |
We record all debt instruments at face value. When an issuance of debt is made at other than par, a discount or premium is separately recorded. The discount or premium is amortized over the life of the debt using the effective interest method. | |
Income Taxes | |
Deferred income taxes are established for all temporary differences between the book and the tax basis of assets and liabilities. In addition, deferred tax balances must reflect tax rates expected to be in effect in years in which the temporary differences reverse. Canadian taxes are calculated at rates expected to be in effect in Canada. U.S. deferred tax liabilities are not recognized on profits that are expected to be permanently reinvested in Canada and thus not considered available for distribution to the parent company. It is not practicable to determine our unrecognized deferred tax liability for temporary differences related to investments in foreign subsidiaries that are essentially permanent in duration. Net operating loss carry-forwards and other deferred tax assets are reviewed annually for recoverability, and, if necessary, are recorded net of a valuation allowance. Note 13 contains additional discussion regarding income taxes. | |
Stock-based Compensation | |
We measure and recognize compensation expense for all share-based payment awards made to employees and directors based on their estimated fair value at the time the awards are granted. Our board of directors may elect to issue awards payable in cash. For awards with service requirements, we recognize the expense associated with the awards over the vesting period. The liability for fair value of cash awards is reassessed at every balance sheet date, such that the vested portion of the liability is adjusted to reflect revised fair value through compensation expense. For awards that vest only upon achievement of performance criteria, recognition is recorded only when achievement of the performance criteria is considered probable. | |
Disclosure of Fair Value of Financial Instruments | |
Our financial instruments include cash, commercial paper, time deposits, accounts receivable, notes payable, accounts payable, long-term debt and financial derivatives. The fair value of long-term debt is estimated as the present value of future cash flows discounted at rates consistent with comparable maturities and includes consideration of credit risk. The carrying amounts reflected in the balance sheet for financial assets classified as current assets and the carrying amounts for financial liabilities classified as current liabilities approximate fair value. | |
Foreign Currency Translation | |
Our Canadian subsidiary maintains its general ledger using the Canadian dollar. All balance sheet accounts of our Canadian operations are translated into U.S. dollars at the period end exchange rate and statement of income items are translated at the weighted average exchange rate for the period. The resulting translation adjustments are made directly to a component of accumulated other comprehensive income within stockholders’ equity. Gains and losses from foreign currency transactions are included in the consolidated results of operations. | |
Variable Interest Entities | |
An entity is a variable interest entity (VIE) if it meets the following criteria: (1) the entity has equity that is insufficient to permit the entity to finance its activities without additional subordinated financial support from other parties, or (2) the entity has equity investors that cannot make significant decisions about the entity’s operations or that do not absorb their proportionate share of the expected losses or receive the expected returns of the entity. | |
VIEs require assessment of who the primary beneficiary is and whether the primary beneficiary should consolidate the VIE. The primary beneficiary is identified as the variable interest holder that has both the power to direct the activities of the variable interest entity that most significantly impacts the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the variable interest entity. Application of the VIE consolidation requirements may require the exercise of significant judgment by management. | |
In 2011, we began to include the financial position of Fortune Creek and the results of operations were included beginning with the period ended December 31, 2012 in our consolidated financial statements. The results from operations of Fortune Creek for 2011 were immaterial. Note 15 contains additional discussion regarding Fortune Creek. | |
Earnings per Share | |
We report basic earnings per common share, which excludes the effect of potentially dilutive securities, and diluted earnings per common share, which includes the effect of all potentially dilutive securities unless their impact is antidilutive. Note 17 includes the calculation of earnings per share. | |
Recently Issued Accounting Standards | |
No pronouncements materially affecting our financial statements have been issued since the filing of our 2012 Annual Report on Form 10-K. |
Divestitures
Divestitures | 12 Months Ended |
Dec. 31, 2013 | |
Acquisitions And Divestitures [Abstract] | ' |
Acquisitions And Divestitures | ' |
DIVESTITURES | |
In March 2014, we executed an agreement with Southwestern Energy Company to sell a majority of our Niobrara Asset for cash proceeds of $90 million. The Southwestern Transaction is expected to close in May 2014. | |
In October and November 2013, we executed two separate agreements involving our West Texas Asset, the largest of which is a joint venture with Eni whereby we will jointly evaluate, explore and develop approximately 52,500 gross acres currently held by us in Pecos County, Texas. Under the terms of the agreement, Eni will pay up to $52.0 million in three phases to earn a 50% interest in our acreage. Upon completion of the three phases, we will participate equally in all future revenue, operating costs and capital expenditures with Eni. | |
In August 2013, we completed the sale of our Southern Alberta Basin Asset to Synergy with an effective date of January 1, 2013. The purchase price was $46.0 million, which was subject to customary purchase price adjustments, resulting in a final purchase price of $42.3 million. We determined that the Synergy Transaction did not represent a significant disposal of reserves, therefore our U.S. oil and gas properties were reduced by these proceeds and we did not recognize a gain. | |
In April 2013, we sold an undivided 25% interest in our Barnett Shale Asset to TGBR for a purchase price of $485.0 million. The effective date of the transaction was September 1, 2012. The purchase price was subject to customary price adjustments, which resulted in a final purchase price of $464.0 million. We recognized a gain of $339.3 million before consideration of income taxes as a result of this transaction based on our determination that the Tokyo Gas Transaction represented a significant disposal of reserves. Our U.S. oil and gas properties were reduced by $110.7 million as a result of the Tokyo Gas Transaction. | |
In December 2012, we entered into an agreement with SWEPI LP to jointly develop our oil and gas interests in the Niobrara formation of the Sand Wash Basin and to establish an Area of Mutual Interest (“AMI”) covering in excess of 850,000 acres. Each party assigned to the other a 50% working interest in the majority of its combined acreage so that each party owns a 50% interest in more than 320,000 acres and has the right to a 50% interest in any acquisition within the AMI. SWEPI paid us an equalization payment for 50% of the acreage contributed by us in excess of the acreage that SWEPI contributed. SWEPI is the operator of the majority of the jointly owned lands. Subsequently, these assets are being sold in the Southwestern Transaction described above. |
Derivatives_And_Fair_Value_Mea
Derivatives And Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Credit Risk Derivatives, at Fair Value, Net [Abstract] | ' | ||||||||||||||||
Derivatives And Fair Value Measurements | ' | ||||||||||||||||
DERIVATIVES AND FAIR VALUE MEASUREMENTS | |||||||||||||||||
The following table categorizes our commodity derivative instruments based upon the use of input levels: | |||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||
As of December 31, | As of December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||
Level 2 inputs | $ | 107,395 | $ | 207,042 | $ | 3,448 | $ | 959 | |||||||||
Level 3 inputs | 23,485 | 11,595 | — | 16,526 | |||||||||||||
Total | $ | 130,880 | $ | 218,637 | $ | 3,448 | $ | 17,485 | |||||||||
The fair value of “Level 2” derivative instruments included in these disclosures was estimated using prices quoted in active markets for the periods covered by the derivatives and the value reported by counterparties. The fair value of derivative instruments designated as “Level 3” was estimated using prices quoted in markets where there is insufficient market activity for consideration as “Level 2” instruments. Currently, only our natural gas derivatives with an original tenure of 10 years utilize “Level 3” inputs, primarily due to comparatively less market data available for the later portion of their term compared with our shorter term derivatives. The fair value of both the “Level 2” and the “Level 3” assets and liabilities are determined using a discounted cash flow model using the terms of the derivative instrument, market prices for the periods covered by the derivatives, and the credit adjusted risk-free interest rates. The “Level 3” unobservable inputs are the market prices for the estimated market values for the period from 2018 to 2021, as there is not an active market for that period of time. These unobservable inputs included within the fair value calculation range from $4.00 to $4.80 and are based upon prices quoted in active markets for the period of time available and applying the differential from this period of time to the market prices for the later years in the term. | |||||||||||||||||
The following table identifies the changes in “Level 3” net asset derivative fair values for the periods indicated: | |||||||||||||||||
As of December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
(In thousands) | |||||||||||||||||
Balance at beginning of period | $ | (4,931 | ) | $ | 150,989 | ||||||||||||
Total gains (losses) for the period: | |||||||||||||||||
Unrealized gain on derivatives | 40,398 | 19,451 | |||||||||||||||
Transfers out of Level 3 | — | (180,732 | ) | ||||||||||||||
Settlements in production revenue | — | (3,738 | ) | ||||||||||||||
Settlements in net derivative losses | (11,982 | ) | (25,203 | ) | |||||||||||||
Unrealized gains reported in OCI | — | 34,302 | |||||||||||||||
Balance at end of period | $ | 23,485 | $ | (4,931 | ) | ||||||||||||
Total gains included in net derivative gains attributable to the change in unrealized gains related to assets still held at the reporting date | $ | 41,909 | $ | 19,451 | |||||||||||||
In 2012, transfers from Level 3 to Level 2 represent our ten-year derivative instruments that were exchanged in January and February 2012 for derivative instruments with shorter durations and which were valued on the date of the transfer. | |||||||||||||||||
Commodity Price Derivatives | |||||||||||||||||
As of December 31, 2013, we had natural gas and NGL swaps as follows: | |||||||||||||||||
Production | Daily Production | ||||||||||||||||
Year | Volume | ||||||||||||||||
Natural Gas | NGL | Natural Gas Basis Swaps | |||||||||||||||
MMcfd | MBbld | MMcfd | |||||||||||||||
2014 (1) | 170 | 4 | 40 | ||||||||||||||
2015 | 150 | — | — | ||||||||||||||
2016-2021 | 40 | — | — | ||||||||||||||
-1 | Our 2014 NGL derivatives end in September. Our natural gas derivatives and AECO to NYMEX natural gas basis swaps are in place for the whole of 2014. | ||||||||||||||||
Effective December 31, 2012, we discontinued the use of hedge accounting. Changes in value subsequent to this date are recognized in net derivative gains (losses) in the period in which they occur. The net deferred hedge gain that was included in AOCI as of December 31, 2012 is being released into revenue from natural gas, NGL and oil production during the following periods in which we expect the underlying production to occur: | |||||||||||||||||
(In thousands) | |||||||||||||||||
2014 | $ | 37,084 | |||||||||||||||
2015 | 33,191 | ||||||||||||||||
2016 | 13,476 | ||||||||||||||||
2017 | 12,531 | ||||||||||||||||
2018 and thereafter | $ | 41,443 | |||||||||||||||
$ | 137,725 | ||||||||||||||||
Gains and losses from the effective portion of derivative assets and liabilities held in AOCI expected to be reclassified into earnings during the following twelve months would result in a gain of $25.0 million net of income taxes. | |||||||||||||||||
Interest Rate Derivatives | |||||||||||||||||
In 2010, we executed early settlements of our interest rate swaps that were designated as fair value hedges of our senior notes due 2015 and our senior subordinated notes. We received cash of $41.5 million in the settlements, including $10.7 million for interest previously accrued and earned. Upon the early settlements, we recorded the resulting gain as a fair value adjustment to our debt and began to recognize the deferred gain of $30.8 million as a reduction of interest expense over the lives of our senior notes due 2015 and our senior subordinated notes. | |||||||||||||||||
In June 2013, we repurchased substantially all our senior notes due 2015 resulting in early recognition of the previously deferred gain of $8.3 million. During 2013 and 2012, we recognized $12.0 million and $5.1 million, respectively, of those deferred gains as a reduction of interest expense. The remaining $4.8 million deferral of the 2010 early settlements from the senior subordinated notes interest rate swaps will continue to be recognized as a reduction of interest expense over the life of those instruments currently scheduled as follows: | |||||||||||||||||
(In thousands) | |||||||||||||||||
2014 | 2,039 | ||||||||||||||||
2015 | 2,194 | ||||||||||||||||
2016 | 569 | ||||||||||||||||
$ | 4,802 | ||||||||||||||||
Fair Value Disclosures | |||||||||||||||||
The estimated fair value of all of our derivative instruments at December 31, 2013 and 2012 were as follows: | |||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||
As of December 31, | As of December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||
Derivatives not designated as hedges: | |||||||||||||||||
Commodity contracts reported in: | |||||||||||||||||
Current derivative assets | $ | 60,063 | $ | 113,367 | $ | 2,540 | $ | — | |||||||||
Noncurrent derivative assets | 105,315 | 107,542 | 31,958 | 2,272 | |||||||||||||
Current derivative liabilities | — | — | 3,125 | — | |||||||||||||
Noncurrent derivative liabilities | — | 92 | 323 | 17,577 | |||||||||||||
Total derivatives not designated as hedges | $ | 165,378 | $ | 221,001 | $ | 37,946 | $ | 19,849 | |||||||||
Derivative assets and liabilities shown in the table above 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. The change in carrying value of our commodity price derivatives since December 31, 2012 principally resulted from the overall increase in market prices for natural gas relative to the prices in our open derivative instruments, offset by settlements during the period. | |||||||||||||||||
The changes in the carrying value of our derivatives accounted for as hedges for 2012 are presented below: | |||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||
Commodity Hedges | |||||||||||||||||
(In thousands) | |||||||||||||||||
Derivative fair value at beginning of period | $ | 342,799 | |||||||||||||||
Settlements in production revenue | (176,084 | ) | |||||||||||||||
Settlements in net derivative gains | (3,820 | ) | |||||||||||||||
Ineffectiveness reported in net derivative gains | 1,281 | ||||||||||||||||
Unrealized gains reported in OCI | 107,112 | ||||||||||||||||
Derecognition of hedge | (271,288 | ) | |||||||||||||||
Derivative fair value at end of period | $ | — | |||||||||||||||
Investments | |||||||||||||||||
We hold certain short-term marketable securities related to interest bearing time deposits and commercial paper. We classify our marketable securities within “Level 2.” These held-to-maturity marketable securities are included in Cash and Cash Equivalents if the maturities at the time we made the investment were three months or less. For maturities greater than three months but less than a year, the marketable securities are included in current Marketable Securities. We did not sell or transfer any of our marketable securities during 2013 and do not anticipate selling or transferring these investments before their maturity date. At December 31, 2013, we had the following marketable securities: | |||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Market Value | ||||||||||||||
(In thousands) | |||||||||||||||||
Marketable securities (held-to-maturity) | |||||||||||||||||
Time deposits | $ | 29,419 | $ | — | $ | (22 | ) | $ | 29,397 | ||||||||
Commercial paper | 136,924 | 27 | (25 | ) | 136,926 | ||||||||||||
Marketable securities | $ | 166,343 | $ | 27 | $ | (47 | ) | $ | 166,323 | ||||||||
We had no marketable securities at December 31, 2012. | |||||||||||||||||
Financial instruments not carried at fair value | |||||||||||||||||
Carrying values and fair values of financial instruments that are not carried at fair value in the consolidated balance sheet as of December 31, 2013 and December 31, 2012 are included in Note 11. |
Accounts_Receivable
Accounts Receivable | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounts Receivable, Net [Abstract] | ' | |||||||
Accounts Receivable | ' | |||||||
ACCOUNTS RECEIVABLE | ||||||||
Accounts receivable consisted of the following: | ||||||||
As of December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Accrued production revenue | $ | 34,785 | $ | 49,762 | ||||
Joint interest billings | 15,630 | 10,957 | ||||||
Income taxes | 7,931 | — | ||||||
Canadian value added taxes | 60 | 172 | ||||||
NGL hedge settlement accrual | — | 3,149 | ||||||
Other | 328 | 160 | ||||||
Allowance for doubtful accounts | (89 | ) | (51 | ) | ||||
$ | 58,645 | $ | 64,149 | |||||
Other_Current_Assets
Other Current Assets | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Current Assets [Abstract] | ' | |||||||
Other Current Assets | ' | |||||||
OTHER CURRENT ASSETS | ||||||||
Other current assets consisted of the following: | ||||||||
As of December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Inventories | $ | 18,334 | $ | 21,454 | ||||
Deposits | 1,044 | 513 | ||||||
Other prepaid expense | 2,968 | 3,079 | ||||||
$ | 22,346 | $ | 25,046 | |||||
Investment_In_BBEP
Investment In BBEP | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Equity Method Investment, Summarized Financial Information [Abstract] | ' | |||
Investment In BBEP | ' | |||
INVESTMENT IN BBEP | ||||
Since December 31, 2011 we own no BBEP Units. We recognized gains of $217.9 million for the year ended December 31, 2011 as other income for the difference between our weighted average carrying value of $3.51 per BBEP Unit and the net sales proceeds. | ||||
We accounted for our investment in BBEP Units using the equity method, utilizing a one-quarter lag from BBEP’s publicly available information. Summarized financial information for BBEP is as follows: | ||||
For the Twelve | ||||
Months Ended | ||||
September 30, 2011 | ||||
(in thousands) | ||||
Revenue (1) | $ | 425,386 | ||
Operating expense | 313,388 | |||
Operating income | 111,998 | |||
Interest and other (2) | 40,759 | |||
Income tax (benefit) expense | 1,070 | |||
Noncontrolling interests | 183 | |||
Net income available to BBEP | $ | 69,986 | ||
Net income available to common unitholders | $ | 69,986 | ||
(1) | For the twelve months ended September 30, 2011, unrealized gains of $24.0 million on commodity derivatives were recognized. | |||
(2) | The twelve months ended September 30, 2011 included $3.3 million for unrealized gains on interest rate swaps. |
Property_Plant_And_Equipment
Property, Plant And Equipment | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Property, Plant And Equipment | ' | |||||||||||||||||||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment consisted of the following: | ||||||||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||
Oil and gas properties | ||||||||||||||||||||||||||||||||||||||||
Subject to depletion | $ | 5,687,557 | $ | 5,770,913 | ||||||||||||||||||||||||||||||||||||
Unevaluated costs | 221,605 | 307,267 | ||||||||||||||||||||||||||||||||||||||
Accumulated depletion | (5,268,719 | ) | (5,297,220 | ) | ||||||||||||||||||||||||||||||||||||
Net oil and gas properties | 640,443 | 780,960 | ||||||||||||||||||||||||||||||||||||||
Other property and equipment | ||||||||||||||||||||||||||||||||||||||||
Pipelines and processing facilities | 347,093 | 375,248 | ||||||||||||||||||||||||||||||||||||||
General properties | 72,125 | 75,147 | ||||||||||||||||||||||||||||||||||||||
Accumulated depreciation | (198,856 | ) | (202,297 | ) | ||||||||||||||||||||||||||||||||||||
Net other property and equipment | 220,362 | 248,098 | ||||||||||||||||||||||||||||||||||||||
Property, plant and equipment, net of accumulated depletion and depreciation | $ | 860,805 | $ | 1,029,058 | ||||||||||||||||||||||||||||||||||||
Ceiling Test Analysis and Impairment | ||||||||||||||||||||||||||||||||||||||||
The charges for impairment are summarized below: | ||||||||||||||||||||||||||||||||||||||||
Pre-tax Charges for Impairment | ||||||||||||||||||||||||||||||||||||||||
Segment | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||||||||||
U.S. | ||||||||||||||||||||||||||||||||||||||||
Oil and gas properties | Exploration and production | $ | — | $ | 2,152,128 | $ | — | |||||||||||||||||||||||||||||||||
Other property and equipment | Midstream | 54 | 7,328 | 57,996 | ||||||||||||||||||||||||||||||||||||
Other property and equipment | Exploration and production | 1,809 | 537 | — | ||||||||||||||||||||||||||||||||||||
Canada | ||||||||||||||||||||||||||||||||||||||||
Oil and gas properties | Exploration and production | — | 465,935 | 49,063 | ||||||||||||||||||||||||||||||||||||
$ | 1,863 | $ | 2,625,928 | $ | 107,059 | |||||||||||||||||||||||||||||||||||
As described in Note 2, we are required to perform a quarterly ceiling test for impairment of our oil and gas properties in each of our cost centers. We did not recognize impairment in 2013 during our quarterly ceiling tests. We did recognize other property and equipment impairment charges in 2013 for surface land and pipeline in Texas. | ||||||||||||||||||||||||||||||||||||||||
In 2012, we recognized impairment expense each quarter as the average of the first of month prices for the preceding 12 months declined each quarter. For our U.S. oil and gas properties, the Henry Hub price declined 33% from the price used at December 31, 2011 and the pricing used for NGLs declined 28% from the price used at December 31, 2011. For our Canadian oil and gas properties, the AECO price declined 36% from the price used at December 31, 2011. In 2012, the impairment on our oil and gas properties in both the U.S. and Canada was impacted by the exclusion of our derivatives from the ceiling test due to the discontinuance of hedge accounting. Other property and equipment impairment charges during 2012 were a result of reduced anticipated utilization of pipelines and facilities in Colorado and Texas and reduced use of a compressed natural gas facility in Texas. | ||||||||||||||||||||||||||||||||||||||||
The charge for impairment of our oil and gas properties in Canada in 2011 was recognized as a result of a 12% decrease in AECO natural gas price utilized in our Canadian ceiling test from December 31, 2010 to March 31, 2011. | ||||||||||||||||||||||||||||||||||||||||
We also recognized an impairment charge of $58.0 million in 2011 related to certain Barnett Shale midstream assets to reduce their carrying value to estimated fair value as a result of decreased development by us and others in response to decreased natural gas prices during the fourth quarter of 2011. | ||||||||||||||||||||||||||||||||||||||||
Unevaluated Natural Gas and Oil Properties Not Subject to Depletion | ||||||||||||||||||||||||||||||||||||||||
Under full cost accounting, we may exclude certain unevaluated property costs from the amortization base pending determination of whether proved reserves have been discovered or impairment has occurred. A summary of the unevaluated properties not subject to depletion at December 31, 2013 and 2012 and the year in which they were incurred follows: | ||||||||||||||||||||||||||||||||||||||||
December 31, 2013 Costs Incurred During | December 31, 2012 Costs Incurred During | |||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | Prior | Total | 2012 | 2011 | 2010 | Prior | Total | |||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||
U.S. | ||||||||||||||||||||||||||||||||||||||||
Acquisition costs | $ | — | $ | 3,013 | $ | 13,484 | $ | — | $ | 16,497 | $ | 6,844 | $ | 42,339 | $ | 1,447 | $ | 32,429 | $ | 83,059 | ||||||||||||||||||||
Exploration costs | 14 | 364 | — | — | 378 | 2,676 | 207 | — | — | 2,883 | ||||||||||||||||||||||||||||||
Capitalized interest | 1,093 | 1,374 | — | — | 2,467 | 4,093 | — | — | — | 4,093 | ||||||||||||||||||||||||||||||
Total U.S. | $ | 1,107 | $ | 4,751 | $ | 13,484 | $ | — | $ | 19,342 | $ | 13,613 | $ | 42,546 | $ | 1,447 | $ | 32,429 | $ | 90,035 | ||||||||||||||||||||
Canada | ||||||||||||||||||||||||||||||||||||||||
Acquisition costs | $ | — | $ | 2,956 | $ | 1,300 | $ | 68,586 | $ | 72,842 | $ | 333 | $ | — | $ | 643 | $ | 80,488 | $ | 81,464 | ||||||||||||||||||||
Exploration costs | $ | 7,044 | $ | 31,746 | $ | 41,092 | $ | 30,413 | $ | 110,295 | $ | 36,356 | $ | 44,837 | $ | 18,500 | $ | 20,171 | $ | 119,864 | ||||||||||||||||||||
Capitalized interest | $ | 3,947 | $ | 2,724 | $ | 3,522 | $ | 8,933 | $ | 19,126 | $ | 2,796 | $ | 3,614 | $ | 2,830 | $ | 6,664 | $ | 15,904 | ||||||||||||||||||||
Total Canada | $ | 10,991 | $ | 37,426 | $ | 45,914 | $ | 107,932 | $ | 202,263 | $ | 39,485 | $ | 48,451 | $ | 21,973 | $ | 107,323 | $ | 217,232 | ||||||||||||||||||||
Total | $ | 12,098 | $ | 42,177 | $ | 59,398 | $ | 107,932 | $ | 221,605 | $ | 53,098 | $ | 90,997 | $ | 23,420 | $ | 139,752 | $ | 307,267 | ||||||||||||||||||||
The following table summarizes the regions where we have unevaluated property costs not subject to depletion. | ||||||||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||
Barnett Shale | $ | — | $ | 40,716 | ||||||||||||||||||||||||||||||||||||
West Texas | 19,343 | 49,318 | ||||||||||||||||||||||||||||||||||||||
Horn River Basin | 202,262 | 217,233 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 221,605 | $ | 307,267 | ||||||||||||||||||||||||||||||||||||
Costs are transferred into the amortization base on an ongoing basis, as projects are evaluated and proved reserves established or impairment determined. Pending determination of proved reserves attributable to the above costs, we cannot assess the future impact on the amortization rate. Unevaluated acquisition costs in our Horn River Asset will require up to an estimated nine more years of exploration and development activity before evaluation is complete, which is covered by the remaining primary term of the underlying leases. Unevaluated acquisition costs in our West Texas Asset will require up to an estimated three more years of exploration and development activity before evaluation is complete, which is covered by the remaining primary term and the renewal term of the underlying leases. | ||||||||||||||||||||||||||||||||||||||||
Other Matters | ||||||||||||||||||||||||||||||||||||||||
Capitalized overhead costs that directly relate to exploration and development activities were $13.6 million, $16.8 million and $18.3 million for 2013, 2012 and 2011, respectively. For 2013, depletion per Mcfe was $0.51 and $0.14 for the U.S. and Canada, respectively. For 2012, depletion per Mcfe was $1.14 and $0.83 for the U.S. and Canada, respectively. For 2011, consolidated depletion per Mcfe was $1.35. Depreciation expense was $17.1 million, $18.6 million and $20.3 million for 2013, 2012 and 2011, respectively. |
Other_Assets
Other Assets | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Assets, Noncurrent Disclosure [Abstract] | ' | |||||||
Other Assets | ' | |||||||
OTHER ASSETS | ||||||||
Other assets consisted of the following: | ||||||||
As of December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Deferred financing costs | $ | 84,951 | $ | 59,059 | ||||
Less accumulated amortization | (50,171 | ) | (27,335 | ) | ||||
Net deferred financing costs | 34,780 | 31,724 | ||||||
Governmental and notes receivable | 6,464 | 7,385 | ||||||
Other | 360 | 838 | ||||||
$ | 41,604 | $ | 39,947 | |||||
Costs related to the acquisition of debt are deferred and amortized over the term of the debt. |
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities [Abstract] | ' | |||||||
Accrued Liabilities | ' | |||||||
ACCRUED LIABILITIES | ||||||||
Accrued liabilities consisted of the following: | ||||||||
As of December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Interest payable | $ | 38,260 | $ | 67,116 | ||||
Accrued operating expense | 37,747 | 38,733 | ||||||
Prepayments from partners | 425 | — | ||||||
Revenue payable | 22,589 | 21,013 | ||||||
Accrued state income and franchise taxes | 1,080 | 1,183 | ||||||
Accrued production and property taxes | 870 | 609 | ||||||
Environmental liabilities | 36 | 122 | ||||||
Accrued product purchases | 270 | 336 | ||||||
Current asset retirement obligations | 433 | 577 | ||||||
Other | 1,140 | 971 | ||||||
$ | 102,850 | $ | 130,660 | |||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Long-term Debt, Other Disclosures [Abstract] | ' | |||||||||||||||||
Long-Term Debt | ' | |||||||||||||||||
LONG-TERM DEBT | ||||||||||||||||||
Long-term debt consisted of the following: | ||||||||||||||||||
As of December 31, | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
(In thousands) | ||||||||||||||||||
Combined Credit Agreements | $ | 211,200 | $ | 388,150 | ||||||||||||||
Second Lien Term Loan, net of unamortized discount of $17,428 | 607,572 | — | ||||||||||||||||
Second Lien Notes due 2019, net of unamortized discount of $5,577 | 194,423 | — | ||||||||||||||||
Senior notes due 2015, net of unamortized discount of $30 and $2,149 | 10,472 | 435,851 | ||||||||||||||||
Senior notes due 2016, net of unamortized discount of $105 and $10,825 | 8,044 | 579,795 | ||||||||||||||||
Senior notes due 2019, net of unamortized discount of $4,757 and $5,378 | 293,243 | 292,622 | ||||||||||||||||
Senior notes due 2021, net of unamortized discount of $15,810 | 309,190 | — | ||||||||||||||||
Senior subordinated notes due 2016 | 350,000 | 350,000 | ||||||||||||||||
Total debt | 1,984,144 | 2,046,418 | ||||||||||||||||
Unamortized deferred gain—terminated interest rate swaps | 4,802 | 16,788 | ||||||||||||||||
Long-term debt | $ | 1,988,946 | $ | 2,063,206 | ||||||||||||||
Maturities are as follows: | ||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | |||||||||||||
(in thousands) | ||||||||||||||||||
Combined Credit Agreements | — | — | 211,200 | — | — | — | ||||||||||||
Second Lien Term Loan | — | — | — | — | — | 625,000 | ||||||||||||
Second Lien Notes due 2019 | — | — | — | — | — | 200,000 | ||||||||||||
Senior notes due 2015 | — | 10,502 | — | — | — | — | ||||||||||||
Senior notes due 2016 | — | — | 8,149 | — | — | — | ||||||||||||
Senior notes due 2019 | — | — | — | — | — | 298,000 | ||||||||||||
Senior notes due 2021 | — | — | — | — | — | 325,000 | ||||||||||||
Senior subordinated notes due 2016 | — | — | 350,000 | — | — | — | ||||||||||||
Total Indebtedness | — | 10,502 | 569,349 | — | — | 1,448,000 | ||||||||||||
The Combined Credit Agreements are required to be repaid 91 days prior to the maturity of the 2015 Senior Notes, the 2016 Senior Notes, the 2016 Senior Subordinated Notes, the Second Lien Term Loan or the Second Lien Notes due 2019, if on the applicable date any amount of such debt remains outstanding. The Second Lien Term Loan and Second Lien Notes due 2019 are required to be repaid (1) 91 days prior to the maturity of the 2019 Senior Notes if more than $100 million of the 2019 Senior Notes remain outstanding and (2) 91 days prior to the earliest maturity of the 2015 Senior Notes, the 2016 Senior Notes or the 2016 Senior Subordinated Notes if on the applicable date the aggregate amount of all such notes remaining outstanding exceeds $100 million. The table above does not reflect these accelerated maturities. We believe we have and will have sufficient liquidity and capital resources to defer these springing maturities until at least the last half of 2015. | ||||||||||||||||||
Combined Credit Agreements | ||||||||||||||||||
The Combined Credit Agreements’ global borrowing base was $350 million and the global letter of credit capacity was $280 million as of December 31, 2013. At December 31, 2013, we had $97.6 million available under the Combined Credit Agreements, all of which could be used for letters of credit. | ||||||||||||||||||
We amended our Combined Credit Agreements in 2013 for the following: | ||||||||||||||||||
• | Reduce the global borrowing base to $350 million from $850 million, including the reduction due to the Tokyo Gas Transaction | |||||||||||||||||
• | Reduce the minimum required interest coverage ratio to the following: | |||||||||||||||||
Period | Interest Coverage Ratio | Period | Interest Coverage Ratio | |||||||||||||||
Q4 2013 | 1.1 | Q2 2015 | 1.15 | |||||||||||||||
Q1 2014 | 1.1 | Q3 2015 | 1.15 | |||||||||||||||
Q2 2014 | 1.1 | Q4 2015 | 1.2 | |||||||||||||||
Q3 2014 | 1.1 | Q1 2016 | 1.5 | |||||||||||||||
Q4 2014 | 1.1 | Q2 2016 | 2 | |||||||||||||||
Q1 2015 | 1.1 | |||||||||||||||||
• | Permit up to $825 million of second lien debt | |||||||||||||||||
• | Permit redemption of junior debt with the proceeds from certain asset sales and permitted second lien debt, provided utilization under the global borrowing base after giving effect to such redemption is less than 75% and compliance with other customary conditions | |||||||||||||||||
• | Reduce the maximum senior secured debt leverage ratio to 2.0 and exclude permitted second lien debt from the senior secured debt definition | |||||||||||||||||
• | Increase the applicable margin by 0.75% for each type of loan and issued letters of credit | |||||||||||||||||
• | Increase the minimum mortgage properties requirement to 87.5% from 80% of proved hydrocarbon interests evaluated in the then most recent reserve report | |||||||||||||||||
• | Amend certain definitions which impact the financial covenant calculations. | |||||||||||||||||
The Amended and Restated U.S. Credit Facility also provides for the extension of swingline loans to Quicksilver. Borrowings under the Amended and Restated U.S. Credit Facility bear interest at a variable annual rate based on adjusted LIBOR or ABR plus, in each case, an applicable margin, provided that each swingline loan must be comprised entirely of ABR loans. Borrowings under the Amended and Restated Canadian Credit Facility may be made in U.S. dollars or Canadian dollars and bear interest at a variable annual rate based on Canadian prime loans, Canadian Deposit Offer Rate (“CDOR”) loans, U.S. prime loans or Eurodollar loans plus, in each case, an applicable margin. The applicable margin under both credit facilities adjusts as the utilization of the global borrowing base changes. | ||||||||||||||||||
Our ability to remain in compliance with covenants in our Combined Credit Agreements may be affected by events beyond our control, including market prices for our products. Any future inability to comply with these covenants, unless waived or amended by the requisite lenders, could adversely affect our liquidity by rendering us unable to borrow further under our credit facilities and by accelerating the maturity of our indebtedness. Note 1 contains additional information regarding our ability to comply with our financial covenants. | ||||||||||||||||||
Debt Refinancing | ||||||||||||||||||
During 2013, we executed multiple debt transactions, including payment of $51.4 million of cancellation premiums and discounts and tender premiums, included in interest expense, which are more fully described below, to extend our debt maturities and reduce the weighted average interest costs. Deferred issuance costs related to the new debt were $23.4 million, and $4.1 million of incurred costs related to the repurchased debt were recognized as interest expense. Proceeds from the Second Lien Term Loan and the issuance of Second Lien Notes due 2019 and Senior Notes due 2021 were used to pay for validly tendered Senior Notes due 2015 and Senior Notes due 2016 and accrued interest thereon and transaction expenses, including a consent fee. | ||||||||||||||||||
Second Lien Term Loan | ||||||||||||||||||
In June 2013, we entered into a $625 million six-year Second Lien Term Loan which is a secured senior obligation of Quicksilver. The loans thereunder were made at 97% of par, which resulted in net proceeds of $606.3 million. The Second Lien Term Loan has a variable annual interest rate based on adjusted LIBOR (as defined in the Second Lien Term Loan, which is subject to a floor of 1.25%) plus an applicable margin of 5.75% or Alternate Base Rate (as defined in the Second Lien Term Loan, which is subject to a floor of 2.25%) plus an applicable margin of 4.75%. | ||||||||||||||||||
Second Lien Notes due 2019 | ||||||||||||||||||
In June 2013, we issued $200 million of Second Lien Notes due 2019 which are secured senior obligations of Quicksilver. The notes were issued at 97% of par, which resulted in net proceeds of $194 million. The Second Lien Notes have a variable annual interest rate based on LIBOR (as defined in the indenture governing the Second Lien Notes due 2019, which is subject to a floor of 1.25%) plus an applicable margin of 5.75%. Interest is payable on the last day of each quarter. | ||||||||||||||||||
Senior Notes Due 2015 | ||||||||||||||||||
In June 2008, we issued $475 million of senior notes due 2015, which are unsecured senior obligations of Quicksilver. The notes were issued at 98.66% of par. Interest at the rate of 8.25% is payable semiannually on February 1 and August 1. | ||||||||||||||||||
In June 2013, we made a cash tender offer and consent solicitation for the Senior Notes due 2015 at a price of $1,027.90 plus interest of $32.08 per $1,000 outstanding. We accepted and paid for all validly tendered notes, representing $425.2 million of the then outstanding $438.0 million, which resulted in an aggregate payment of $450.7 million for such repurchase. We also entered into a supplemental indenture to eliminate substantially all of the restrictive covenants and certain events of default with respect to such notes. Subsequent to the June tender offer and consent solicitation, we have repurchased an additional $2.3 million aggregate principal amount of the Senior Notes due 2015. | ||||||||||||||||||
Senior Notes Due 2016 | ||||||||||||||||||
In June 2009, we issued $600 million of senior notes due 2016, which are unsecured senior obligations of Quicksilver. The notes were issued at 96.72% of par, which resulted in proceeds of $580.3 million that were used to repay a portion of debt. Interest at the rate of 11.75% is payable semiannually on January 1 and July 1. | ||||||||||||||||||
In June 2013, we made a cash tender offer and consent solicitation for the Senior Notes due 2016 at a price of $1,068 plus interest of $55.49 per $1,000 outstanding. We accepted and paid for all validly tendered notes, representing $582.5 million of the then outstanding $590.6 million, which resulted in an aggregate payment of $654.4 million for such repurchase. We also entered into a supplemental indenture to eliminate substantially all of the restrictive covenants and certain events of default with respect to such notes. | ||||||||||||||||||
Senior Notes Due 2019 | ||||||||||||||||||
In August 2009, we issued $300 million of senior notes due 2019, which are unsecured senior obligations of Quicksilver. The notes were issued at 97.61% of par, which resulted in proceeds of $292.8 million that were used to repay a portion of our 2007 Senior Secured Credit Facility. Interest at the rate of 9.125% is payable semiannually on February 15 and August 15. | ||||||||||||||||||
In June 2013, we announced a consent solicitation for the Senior Notes due 2019 and entered into supplemental indentures to permit the refinancing of the Senior Subordinated Notes due 2016 by incurring indebtedness that ranks equally in right of payment with the Senior Notes due 2019 provided such indebtedness has maturities longer than the Senior Notes due 2019, which resulted in the payment of an $11.5 million consent fee to the consenting holders of the Senior Notes due 2019. | ||||||||||||||||||
Senior Notes due 2021 | ||||||||||||||||||
In June 2013, we issued $325 million of Senior Notes due 2021, which are unsecured senior obligations of Quicksilver. The notes were issued at 94.928% of par, which resulted in proceeds of $308.5 million. Interest at the rate of 11.00% is payable semiannually on January 1 and July 1. | ||||||||||||||||||
Senior Subordinated Notes | ||||||||||||||||||
In 2006, we issued $350 million of senior subordinated notes due 2016. The senior subordinated notes are unsecured senior subordinated obligations of Quicksilver. Interest at the rate of 7.125% is payable semiannually on April 1 and October 1. | ||||||||||||||||||
Indenture Restrictions | ||||||||||||||||||
We have an incurrence test under our indentures applicable to debt, restricted payments, mergers and consolidations and designation of unrestricted subsidiaries that requires EBITDA to exceed interest expense by 2.25 times. At December 31, 2013, we did not meet this test and, as a result, we are limited in our ability to, among other things, incur additional debt, except for specific baskets. We do retain, however, the ability to utilize the full borrowing capacity under our Combined Credit Agreements and to refinance existing debt. Not meeting this ratio does not represent an event of default under our debt. We cannot predict when or if we will meet the incurrence test. | ||||||||||||||||||
We retained a portion of cash received from our 2013 asset sales. Our indentures require us to reinvest or repay senior debt with net cash proceeds from asset sales within one year. If certain capital spending and senior debt repayment thresholds are not met, we would be required to make an offer to repay our notes. We expect to meet the remaining obligation in our indentures through our planned capital program and investments during 2014, but may also repay a portion of our senior indebtedness. | ||||||||||||||||||
Interest Expense | ||||||||||||||||||
Interest expense was $251.8 million and $164.1 million, net of capitalized interest of $7.7 million and $18.4 million, for the years ended December 31, 2013 and 2012, respectively. | ||||||||||||||||||
Summary of All Outstanding Debt | ||||||||||||||||||
The following table summarizes certain significant aspects of our long-term debt outstanding at December 31, 2013: | ||||||||||||||||||
Priority on Collateral and Structural Seniority (1) | ||||||||||||||||||
Highest priority | Lowest priority | |||||||||||||||||
First Lien | Second Lien | Senior Unsecured | Senior Subordinated | |||||||||||||||
Combined Credit | Second Lien Term Loan | Second Lien Notes due 2019 | 2015 | 2016 | 2019 | 2021 | Senior | |||||||||||
Agreements | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Subordinated Notes | |||||||||||||
Principal amount (2) | $350 million | $625 million | $200 million | $11 million | $8 million | $298 million | $325 million | $350 million | ||||||||||
Scheduled maturity date (3) | September 6, 2016 | June 21, 2019 | June 21, 2019 | August 1, 2015 | January 1, 2016 | August 15, 2019 | July 1, 2021 | April 1, 2016 | ||||||||||
Interest rate on outstanding borrowings at December 31, 2013 (4) | 3.95% | 7.00% | 7.00% | 8.25% | 11.75% | 9.13% | 11.00% | 7.12% | ||||||||||
Base interest rate | LIBOR, ABR, CDOR | LIBOR floor of 1.25%; ABR floor of 2.25% | LIBOR floor of 1.25% | N/A | N/A | N/A | N/A | N/A | ||||||||||
options (5)(6) | ||||||||||||||||||
Financial covenants (7) | - Minimum current ratio of 1.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||
- Minimum EBITDA to cash interest expense ratio of 1.10 | ||||||||||||||||||
- Maximum senior secured debt leverage ratio of 2.0 | ||||||||||||||||||
Significant restrictive covenants (7) | - Incurrence of debt | - Incurrence of debt | - Incurrence of debt | - Asset sales | - Asset sales | - Incurrence of debt | - Incurrence of debt | - Incurrence of debt | ||||||||||
- Incurrence of liens | - Incurrence of liens and 1st lien cap | - Incurrence of liens and 1st lien cap | - Incurrence of liens | - Incurrence of liens | - Incurrence of liens | |||||||||||||
- Payment of dividends | -Payment of dividends | -Payment of dividends | -Payment of dividends | -Payment of dividends | -Payment of dividends | |||||||||||||
- Equity purchases | - Equity purchases | - Equity purchases | - Equity purchases | - Equity purchases | - Equity purchases | |||||||||||||
- Asset sales | - Asset sales | - Asset sales | - Asset sales | - Asset sales | - Asset sales | |||||||||||||
- Affiliate transactions | - Affiliate transactions | - Affiliate transactions | - Affiliate transactions | - Affiliate transactions | - Affiliate transactions | |||||||||||||
- Limitations on derivatives and investments | ||||||||||||||||||
Optional redemption (7) | Any time | Any time, subject to re-pricing event | Any time, subject to re-pricing event | August 1, | July 1, | August 15, | July 1, | April 1, | ||||||||||
June 21, | June 21, | 2013: 101.938 | 2013: 105.875 | 2014: 104.563 | 2019: 102.000 | 2013: 101.188 | ||||||||||||
2014: 102 | 2014: 102 | 2014: par | 2014: 102.938 | 2015: 103.042 | 2020: par | 2014: par | ||||||||||||
2015: 101 | 2015: 101 | 2015: par | 2016: 101.521 | |||||||||||||||
2017: par | ||||||||||||||||||
Make-whole redemption (7) | N/A | N/A | N/A | N/A | N/A | Callable prior to | Callable prior to | N/A | ||||||||||
15-Aug-14 | July 1, 2019 at | |||||||||||||||||
at make-whole | make-whole call price of | |||||||||||||||||
call price of | Treasury +50 bps | |||||||||||||||||
Treasury +50 bps | ||||||||||||||||||
Change of control (7) | Event of default | Put at 101% of | Put at 101% of | Put at 101% of | Put at 101% of | Put at 101% of | Put at 101% of | Put at 101% of | ||||||||||
principal plus | principal plus | principal plus | principal plus | principal plus | principal plus | principal plus | ||||||||||||
accrued interest | accrued interest | accrued interest | accrued interest | accrued interest | accrued interest | accrued interest | ||||||||||||
Equity clawback (7) | N/A | N/A | N/A | N/A | N/A | N/A | Redeemable until | N/A | ||||||||||
1-Jul-16 | ||||||||||||||||||
at 111.00%, plus | ||||||||||||||||||
accrued interest | ||||||||||||||||||
for up to 35% | ||||||||||||||||||
Estimated fair value (8) | $211.2 million | $625 million | $200 million | $10.6 million | $7.8 million | $298 million | $354.3 million | $341.3 million | ||||||||||
-1 | Borrowings under the Amended and Restated U.S. Credit Facility, Second Lien Term Loan and Second Lien Notes due 2019 are guaranteed by certain of Quicksilver’s domestic subsidiaries and are secured (on a first priority basis with respect to the Amended and Restated U.S. Credit Facility and on a second priority basis with respect to the Second Lien Term Loan and the Second Lien Notes due 2019) by 100% of the equity interests of each of Cowtown Pipeline Management, Inc., Cowtown Pipeline Funding, Inc., Cowtown Gas Processing L.P., Cowtown Pipeline L.P., Barnett Shale Operating LLC, Silver Stream Pipeline Company LLC, QPP Parent LLC and QPP Holdings LLC (collectively, the “Domestic Pledged Equity”), 65% of the equity interests of Quicksilver Resources Canada Inc. (“Quicksilver Canada”) and Quicksilver Production Partners Operating Ltd. (with respect to the Amended and Restated U.S. Credit Facility, on a ratable basis with borrowings under the Amended and Restated Canadian Credit Facility) and the majority of Quicksilver's domestic proved oil and gas properties and related assets, (the “Domestic Pledged Property”). Borrowings under the Amended and Restated Canadian Credit Facility are guaranteed by Quicksilver and certain of its domestic subsidiaries and are secured by the Domestic Pledged Equity, the Domestic Pledged Property, 100% of the equity interests of Quicksilver Canada (65% of which is on a ratable basis with the borrowings under the Amended and Restated U.S. Credit Facility) and any Canadian restricted subsidiaries, under the Amended and Restated Canadian Credit Facility, and 65% of the equity interests of Quicksilver Production Partners Operating Ltd. (which is on a ratable basis with the borrowings under the Amended and Restated U.S. Credit Facility) and the majority of Quicksilver Canada's oil and gas properties and related assets. The other debt presented is based upon structural seniority and priority of payment. | |||||||||||||||||
-2 | The principal amount for the Combined Credit Agreements represents the global borrowing base as of December 31, 2013. | |||||||||||||||||
-3 | The Combined Credit Agreements are required to be repaid 91 days prior to the maturity of the 2015 Senior Notes, the 2016 Senior Notes, the 2016 Senior Subordinated Notes, the Second Lien Term Loan or the Second Lien Notes due 2019, if on the applicable date any amount of such debt remains outstanding. The Second Lien Term Loan and Second Lien Notes due 2019 are required to be repaid (1) 91 days prior to the maturity of the 2019 Senior Notes if more than $100 million of the 2019 Senior Notes remain outstanding and (2) 91 days prior to the maturity of the 2015 Senior Notes, the 2016 Senior Notes or the 2016 Senior Subordinated Notes if on the applicable date the aggregate amount of all such notes remaining outstanding is greater than $100 million. | |||||||||||||||||
-4 | Represents the weighted average borrowing rate payable to lenders. | |||||||||||||||||
-5 | Amounts outstanding under the Amended and Restated U.S. Credit Facility bear interest, at our election, at (i) adjusted LIBOR (as defined in the Amended and Restated U.S. Credit Facility) plus an applicable margin between 2.75% and 3.75%, (ii) ABR (as defined in the Amended and Restated U.S. Credit Facility), which is the greatest of (a) the prime rate announced by JPMorgan, (b) the federal funds rate plus 0.50% and (c) adjusted LIBOR for an interest period of one month plus 1.00%, plus, in each case under scenario, (ii) an applicable margin between 1.75% and 2.75%. We also pay a per annum fee on the LC Exposure (as defined in the Amended and Restated U.S. Credit Facility) of all letters of credit issued under the Amended and Restated U.S. Credit Facility equal to the applicable margin, with respect to Eurodollar loans, and a commitment fee on the unused availability under the Amended and Restated U.S. Credit Facility of 0.50%. | |||||||||||||||||
-6 | Amounts outstanding under the Amended and Restated Canadian Credit Facility bear interest, at our election, at (i) the CDOR Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 2.75% and 3.75%, (ii) the Canadian Prime Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 1.75% and 2.75%, (iii) the U.S. Prime Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 1.75% and 2.75% and (iv) adjusted LIBOR (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 2.75% and 3.75%. We pay a per annum fee on the LC Exposure (as defined in the Amended and Restated Canadian Credit Facility) of all letters of credit issued under the Amended and Restated Canadian Credit Facility equal to the applicable margin, with respect to Eurodollar loans, and a commitment fee on the unused availability under the Amended and Restated Canadian Credit Facility of 0.50%. | |||||||||||||||||
-7 | The information presented in this table is qualified in all respects by reference to the full text of the covenants, provisions and related definitions contained in the documents governing the various components of our debt. | |||||||||||||||||
-8 | The estimated fair value is determined using market quotations based on recent trade activity for fixed rate obligations (“Level 2” inputs). Our Second Lien Term Loan and Second Lien Notes due 2019 feature variable interest rates and we estimate their fair value by using market quotations based on recent trade activity (“Level 3” input). We consider our Combined Credit Agreements which have a variable interest rate to have a fair value equal to their carrying value (“Level 1” input). |
Asset_Retirement_Obligations
Asset Retirement Obligations | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset Retirement Obligation [Abstract] | ' | |||||||
Asset Retirement Obligations | ' | |||||||
ASSET RETIREMENT OBLIGATIONS | ||||||||
The following table provides a reconciliation of the changes in the estimated asset retirement obligation from January 1, 2012 through December 31, 2013. | ||||||||
As of December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Beginning asset retirement obligations | $ | 116,526 | $ | 85,822 | ||||
Additional liability incurred | 3,922 | 4,072 | ||||||
Change in estimates | 7,582 | 21,080 | ||||||
Accretion expense | 5,109 | 4,122 | ||||||
Asset retirement costs incurred | (1,560 | ) | (1,846 | ) | ||||
Settlement of liability in excess of obligation recorded | 742 | 2,229 | ||||||
Disposition | (21,935 | ) | — | |||||
Currency translation adjustment | (3,697 | ) | 1,047 | |||||
Ending asset retirement obligations | 106,689 | 116,526 | ||||||
Less current portion | (433 | ) | (577 | ) | ||||
Long-term asset retirement obligation | $ | 106,256 | $ | 115,949 | ||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
INCOME TAXES | ||||||||||||
Significant components of our deferred tax assets and liabilities as of December 31, 2013 and 2012 are as follows: | ||||||||||||
As of December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Deferred tax assets: | ||||||||||||
Property, plant and equipment | $ | 209,134 | $ | 483,771 | ||||||||
Net operating loss carry-forwards | 183,982 | 109,100 | ||||||||||
Investment in Fortune Creek | 3,763 | 3,763 | ||||||||||
AMT tax credit | 47,883 | 55,814 | ||||||||||
Settlements of interest rate swaps | 1,681 | 5,876 | ||||||||||
Deferred compensation expense | 11,711 | 11,141 | ||||||||||
State | 3,680 | — | ||||||||||
Other | 791 | 2,710 | ||||||||||
Deferred tax assets | 462,625 | 672,175 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Net derivative gains | (44,039 | ) | (73,195 | ) | ||||||||
Other | (991 | ) | — | |||||||||
Deferred tax liabilities | (45,030 | ) | (73,195 | ) | ||||||||
Net deferred tax asset (liability) | 417,595 | 598,980 | ||||||||||
Valuation allowance | (417,595 | ) | (598,980 | ) | ||||||||
Total deferred tax asset (liability) | $ | — | $ | — | ||||||||
Reflected in the consolidated balance sheets as: | ||||||||||||
Current deferred income tax liability | $ | — | $ | — | ||||||||
Non-current deferred income tax liability | — | — | ||||||||||
$ | — | $ | — | |||||||||
The components of net income (loss) before income tax for 2013, 2012 and 2011 are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
U.S. | $ | 184,034 | $ | (2,142,730 | ) | $ | 146,090 | |||||
Canada | (7,866 | ) | (505,446 | ) | 1,819 | |||||||
Total | $ | 176,168 | $ | (2,648,176 | ) | $ | 147,909 | |||||
No rate changes occurred in any taxing jurisdiction for 2011 or 2012. For 2013 and beyond, we have utilized a rate of 25.2% in Canada and a federal rate of 35% and a state rate of 1% in the U.S. to value our deferred tax positions, with the U.S. federal and state future rates mirroring existing applicable rates. | ||||||||||||
The components of income tax expense for 2013, 2012 and 2011 are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Current state income tax expense (benefit) | $ | 900 | $ | 1,752 | $ | (1,706 | ) | |||||
Current U.S. federal income tax expense (benefit) | (7,931 | ) | — | (5,565 | ) | |||||||
Current Canadian income tax expense | — | — | 642 | |||||||||
Total current income tax expense (benefit) | (7,031 | ) | 1,752 | (6,629 | ) | |||||||
Deferred U.S. federal income tax expense (benefit) | 205,820 | (763,639 | ) | 58,890 | ||||||||
U.S. federal valuation allowance expense | (186,713 | ) | 533,974 | — | ||||||||
Deferred state income tax expense (benefit) | (3,680 | ) | — | 1,980 | ||||||||
State valuation allowance expense | 3,680 | — | — | |||||||||
Deferred Canadian income tax expense (benefit) | 827 | (128,982 | ) | 3,622 | ||||||||
Canadian valuation allowance expense | 1,647 | 61,325 | — | |||||||||
Total deferred income tax expense (benefit) | 21,581 | (297,322 | ) | 64,492 | ||||||||
Total income tax expense (benefit) | $ | 14,550 | $ | (295,570 | ) | $ | 57,863 | |||||
The following table reconciles the statutory federal income tax rate to the effective tax rate for 2013, 2012 and 2011: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
Permanent differences | 4.8 | % | (0.06 | )% | 1.51 | % | ||||||
State income taxes net of federal deduction | 0.31 | % | (0.04 | )% | 0.12 | % | ||||||
Canadian income taxes | (0.26 | )% | (1.93 | )% | 2.41 | % | ||||||
Other | (0.15 | )% | 0.67 | % | 0.08 | % | ||||||
Derivatives deferred in OCI | 12.43 | % | — | % | — | % | ||||||
Valuation allowance | (43.87 | )% | (22.48 | )% | — | % | ||||||
Effective income tax rate | 8.26 | % | 11.16 | % | 39.12 | % | ||||||
As of December 31, 2012, we had net operating tax loss carry-forwards for federal tax purposes of $340 million. During the year ended December 31, 2013, we generated additional net operating losses of $185 million. The total $525 million is included in deferred tax assets, and will expire between 2029 and 2033. The net operating loss carry-forwards can be used to offset future taxable income. As of December 31, 2013, we have $48 million of alternative minimum tax credit carry-forwards to offset any future alternative minimum tax payments, which have no expiration. | ||||||||||||
The deferred tax expense in 2013 is principally composed of the reversal in 2013 of deferred tax liabilities related to hedging in other comprehensive income that had previously reduced the valuation allowance necessary. During 2013, we reduced the U.S. federal deferred tax asset and corresponding valuation allowance by $187 million primarily due to the recognition of a deferred tax liability related to the Tokyo Gas Transaction. We also established a U.S. state valuation allowance of $3.7 million. The Canadian valuation allowance increased by $1.6 million primarily due to permanent items related to nondeductible expenses. Additionally, our basis in the Fortune Creek Partnership exceeds book basis by $29 million. We expect to realize the deferred tax asset related to this balance only through the partnership’s sale at which time the transaction will be treated as a capital transaction under Canadian tax law, taxed at the Canadian statutory rate of 12.5% for capital gains. We believe that it is more likely than not that we will be unable to realize the benefit of this deferred tax asset. Accordingly in 2011, we recorded a full valuation allowance of $3.7 million for this item. | ||||||||||||
We file or have filed income tax returns in U.S. federal, state and foreign jurisdictions and are subject to examinations by the IRS and other taxing authorities. We currently have no open audits. Tax years after December 31, 2009 remain subject to audit by the IRS. | ||||||||||||
The following schedule reconciles the total amounts of unrecognized tax benefits for 2012: | ||||||||||||
As of | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Beginning unrecognized tax benefits | $ | — | $ | 9,219 | ||||||||
Changes | — | (9,219 | ) | |||||||||
Ending unrecognized tax benefits | $ | — | $ | — | ||||||||
Tax benefits of $9.2 million were recognized during the quarter ended September 30, 2012 as the statute of limitations related to uncertain tax positions expired. |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Loss Contingency [Abstract] | ' | |||||||||||||||
Commitments And Contingencies | ' | |||||||||||||||
COMMITMENTS AND CONTINGENCIES | ||||||||||||||||
Contractual Obligations | ||||||||||||||||
Information regarding our contractual obligations, at December 31, 2013, is set forth in the following table: | ||||||||||||||||
GPT | Drilling Rig | Operating | Purchase | |||||||||||||
Contracts (1) | Contracts (2) | Leases (3) | Obligations (4) | |||||||||||||
(In thousands) | ||||||||||||||||
2014 | $ | 86,628 | $ | 4,240 | $ | 3,912 | $ | 3,071 | ||||||||
2015 | 85,043 | — | 3,994 | 220 | ||||||||||||
2016 | 81,803 | — | 4,123 | — | ||||||||||||
2017 | 78,326 | — | 4,070 | — | ||||||||||||
2018 | 65,860 | — | 4,043 | — | ||||||||||||
Thereafter | 140,624 | — | 12,996 | — | ||||||||||||
Total | $ | 538,284 | $ | 4,240 | $ | 33,138 | $ | 3,291 | ||||||||
(1) | Under contracts with various third parties, we are obligated to provide minimum daily natural gas volume for gathering, processing, fractionation and transportation, as determined on a monthly basis, or pay for any deficiencies at a specified reservation fee rate. Our gathering and transportation contracts with CMLP have no minimum volume requirement and, therefore, are not reported in the above amounts. | |||||||||||||||
(2) | We lease drilling rigs from third parties for use in our development and exploration programs. The outstanding drilling rig contract requires payment of a specified day rate of $20,000 for the entire lease term regardless of our utilization of the drilling rigs. | |||||||||||||||
(3) | We lease office buildings and other property under operating leases. Rent expense for operating leases with terms exceeding one month was $3.6 million in 2013, $4.2 million in 2012 and $4.8 million in 2011. Minimum payments have not been reduced by minimum sublease rentals of $2.2 million due in the future under noncancelable subleases. | |||||||||||||||
(4) | At December 31, 2013, we were under contract to purchase goods and services for use in field and gas plant operations. | |||||||||||||||
Commitments and Contingencies | ||||||||||||||||
In July 2013, in light of the Canadian Governor in Council's failure to approve NGTL's construction of the Komie North Project, NGTL terminated the Project and Expenditure Authorization (PEA), which authorized NGTL to construct the Komie North Project and the related meter station. The PEA necessitated the construction of a treatment facility and required financial guarantees to cover NGTL's costs for the Komie North Project. We recognized $12.8 million in related actual costs incurred by NGTL, which is reflected in other income (expense) in our consolidated financial statements. We paid NGTL in August 2013 after which the related letter of credit was terminated. With the termination of the PEA described above, our agreement to deliver gas to the Komie North Project has also terminated. We maintain our ability to sell gas at the Station 2 and AECO hubs, as our current production is served by existing treating facilities and pipelines. | ||||||||||||||||
At December 31, 2013, we had $6.6 million in surety bonds issued to fulfill contractual, legal or regulatory requirements and $41.2 million in letters of credit outstanding against the credit facility. Surety bonds and letters of credit generally have an annual renewal option. | ||||||||||||||||
As a result of our partial working interest sale to Eni in 2009, we entered into a joint development agreement with Eni. The joint development agreement includes a schedule of wells that we agreed to drill and complete with participation by Eni during the development period. In connection with the scheduled drilling of these wells, we committed to drill and complete a minimum number of lateral feet each year and Eni agreed to pay us a turnkey drilling and completion cost per linear foot attributable to Eni. At December 31, 2013 we mutually agreed to end the turnkey drilling and completion provisions within the joint development agreement and both parties are responsible for their respective working interest percentage for drilling and completing activity on joint development wells. | ||||||||||||||||
In July 2011, we received a subpoena duces tecum from the SEC requesting certain documents. The SEC has informed us that their investigation arose out of press releases in 2011 questioning the projected decline curves and economics of shale gas wells. In June 2012, we received an additional request from the SEC for certain information regarding our assessment for impairment of unevaluated properties and plans for development of unevaluated properties. We provided responsive information and in February 2013 we met with the SEC. | ||||||||||||||||
In December 2012, Vantage Fort Worth Energy LLC (“Plaintiff”) served a lawsuit against us and others in the 352nd Judicial District Court of Texas in Tarrant County asserting claims for trespass to try title, suit to quiet title, trespass and conversion. On May 8, 2013, all parties to the suit entered into a settlement agreement, effective April 1, 2013, whereby we assigned to Plaintiff various property and equipment and Plaintiff agreed to non-suit all of the Defendants in the matter. The court entered its Order of Dismissal with prejudice on May 13, 2013. We recognized an expense of $3.3 million in connection with this settlement. | ||||||||||||||||
We are subject to various proceedings and claims that arise in the ordinary course of business. While many of these matters involve inherent uncertainty, we believe, individually or in the aggregate, such matters will not have a material adverse impact on our financial position, results of operations or cash flows. Because of the uncertainty, our assessment may change in the future. If an unfavorable final outcome were to become probable or occur, it may have a material impact on our financial position, results of operations or cash flows for the period in which the effect becomes reasonably estimable. | ||||||||||||||||
Environmental Compliance | ||||||||||||||||
Our operations are subject to stringent, complex and changing laws and regulations pertaining to health, safety and the environment. As an owner, lessor or operator of our facilities, we are subject to laws and regulations at the federal, state, provincial and local levels that relate to air and water quality, hazardous and solid waste management and disposal and other environmental matters. The cost of planning, designing, constructing and operating our facilities incorporates compliance with environmental laws and regulations and safety standards. Failure to comply with these laws and regulations may trigger a variety of administrative, civil and potentially criminal enforcement measures. At December 31, 2013, we had recorded less than $0.1 million for liabilities for environmental matters. |
Fortune_Creek
Fortune Creek | 12 Months Ended |
Dec. 31, 2013 | |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Fortune Creek | ' |
FORTUNE CREEK | |
In December 2011, we entered into an agreement with KKR to form Fortune Creek to construct and operate midstream assets for natural gas produced by us and others primarily in British Columbia. The partnership established an area of mutual interest for the midstream business covering approximately 30 million potential acres which includes transportation and processing infrastructure and agreements. | |
In forming Fortune Creek, our Canadian subsidiary contributed an existing 20-mile, 20-inch gathering line and its related compression facilities and committed to minimum gross capital expenditures of $300 million for drilling and completion activities in our Horn River Asset between 2012 and 2014. In March 2014, we agreed with KKR to an amendment to extend the ending date to the earlier of June 30, 2016 or 12 months following consummation of a transaction involving a material portion of our Horn River Asset and to broaden allowable spending to include acquisitions of producing properties that utilize partnership assets. We have incurred $180 million as of December 31, 2013. The costs to be incurred under the spending requirement generally reflect the gross capital expenditures of all working interests in the well for wells in which we have a working interest regardless of our working interest percentage; therefore, following a transaction involving our Horn River Asset, we may not have to fully fund the remaining obligation. To the extent these minimum capital expenditure commitments are not met, we will incur a cash penalty in an amount equal to the shortfall, which will be applied against the gathering agreement requirement. As part of the amendment, we contributed C$28 million to Fortune Creek which was subsequently distributed to KKR and was applied against the gathering agreement requirement. The effect of this contribution was to reduce the balance of the partnership liability and to reduce the gathering rate that burdens our Horn River Asset production by $0.13 per Mcf until at least 2016. | |
We committed gas production from our Horn River Asset for ten years beginning 2012, as more fully described below. KKR contributed $125 million cash in exchange for a 50% interest in Fortune Creek. Our Canadian subsidiary has responsibility for the day-to-day operations of Fortune Creek. | |
The firm gathering agreement with Fortune Creek is guaranteed by us. With the amendment, signed in March 2014, KKR is no longer required to fund the capital for construction of a proposed gas treatment facility, but at its option may provide funding for any facility to be constructed by the Partnership, including the proposed gas treatment facility. If our subsidiary does not meet its obligations under the gathering agreement, KKR has the right to liquidate the partnership and consequently we have recorded the funds contributed by KKR as a liability in our consolidated financial statements. We recognize accretion expense to reflect the rate of return earned by KKR via its investment. Fortune Creek has made cash distributions to KKR, which are reported as cash used in financing activities, since May 2012. | |
Based on an analysis of the partners’ equity at risk, we have determined the partnership to be a VIE. Further, based on our ability to direct the activities surrounding the production of natural gas and our direct management of the operations of the Fortune Creek facilities, we have determined we are the primary beneficiary and, therefore, we consolidate Fortune Creek. | |
Note 18 contains financial information for Fortune Creek in our condensed consolidating financial statements. |
Quicksilver_Stockholders_Equit
Quicksilver Stockholders' Equity | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | ' | |||||||||||||
Quicksilver Stockholders' Equity | ' | |||||||||||||
QUICKSILVER STOCKHOLDERS’ EQUITY | ||||||||||||||
Common Stock, Preferred Stock and Treasury Stock | ||||||||||||||
We are authorized to issue 400 million shares of common stock with a $0.01 par value per share and 10 million shares of preferred stock with a $0.01 par value per share. At December 31, 2013, we had 177.3 million shares of common stock outstanding. | ||||||||||||||
The following table shows common share and treasury share activity since January 1, 2011: | ||||||||||||||
Common | Treasury | |||||||||||||
Shares Issued | Shares Held | |||||||||||||
Balance at January 1, 2011 | 175,524,816 | 5,050,450 | ||||||||||||
Stock options exercised | 209,221 | — | ||||||||||||
Restricted stock activity | 1,246,446 | 329,252 | ||||||||||||
Balance at December 31, 2011 | 176,980,483 | 5,379,702 | ||||||||||||
Stock options exercised | 1,572 | — | ||||||||||||
Restricted stock activity | 2,033,063 | 541,400 | ||||||||||||
Balance at December 31, 2012 | 179,015,118 | 5,921,102 | ||||||||||||
Stock options exercised | — | — | ||||||||||||
Restricted stock activity | 4,979,761 | 777,538 | ||||||||||||
Balance at December 31, 2013 | 183,994,879 | 6,698,640 | ||||||||||||
Quicksilver Stockholder Rights Plan | ||||||||||||||
In 2003, our Board of Directors declared a dividend distribution of one preferred share purchase right for each share of common stock then outstanding. Pursuant to the amendments entered into on March 8, 2013, each right, when it becomes exercisable, entitles stockholders to buy one one thousandth of a share of Quicksilver’s Series A Junior Participating Preferred Stock at an exercise price of $10, subject to customary anti-dilution adjustments. | ||||||||||||||
The rights will be exercisable only if such a person or group acquires 15% or more of our common stock or announces a tender offer the consummation of which would result in ownership by such a person or group (an “Acquiring Person”) of 15% or more of our common stock. This 15% threshold does not apply to certain members of the Darden family and affiliated entities (the "Darden Entities"), which collectively owned, directly or indirectly, approximately 30% of our common stock at February 28, 2014, so long as the Darden Entities do not acquire beneficial ownership of additional shares of our common stock, subject to certain exceptions and subject to the Darden Entities, collectively, being able to acquire additional shares of common stock to maintain the Darden Entities' collective percentage ownership in us. | ||||||||||||||
If an Acquiring Person acquires 15% or more of our outstanding common stock (or any Darden Entity exceeds the thresholds applicable to the Darden Entities), each right (other than the rights of the Acquiring Person, including, if applicable, the Darden Entities) will entitle its holder to purchase, at the right's then-current exercise price, a number of our common shares having a market value of twice such price. If we are acquired in a merger or other business combination transaction after an Acquiring Person has acquired 15% or more of our outstanding common stock (or any Darden Entity has exceeded the thresholds applicable to the Darden Entities), each right (other than the rights of the Acquiring Person, including, if applicable, the Darden Entities) will entitle its holder to purchase, at the right's then-current exercise price, a number of the acquiring company's common shares having a market value of twice such price. | ||||||||||||||
Prior to the acquisition by an Acquiring Person of beneficial ownership of 15% or more of our common stock (or any Darden Entity exceeds the thresholds applicable to the Darden Entities), the rights are redeemable for $0.01 per right at the option of our Board of Directors. | ||||||||||||||
The rights plan will expire by its terms on March 11, 2016. | ||||||||||||||
Stock-Based Compensation | ||||||||||||||
2006 Equity Plan | ||||||||||||||
In 2006, our Board of Directors and our stockholders approved the 2006 Equity Plan, under which 14 million shares of common stock were reserved for issuance as grants of stock options, appreciation rights, restricted shares, restricted stock units, performances shares, performance units and senior executive plan bonuses. In May 2009, our stockholders approved an amendment to the 2006 Equity Plan, which increased the number of shares available for issuance after such date to 15 million. On May 15, 2013, our stockholders approved an amendment to the 2006 Equity Plan, which increased the shares available for issuance under the plan by 12 million shares. Our executive officers, other employees, consultants and non-employee directors are eligible to participate in the 2006 Equity Plan. Options reflect an exercise price of no less than the fair market value on the date of grant and have a term that expires ten years from the date of grant. At December 31, 2013 and 2012, 15.4 million shares and 9.7 million shares, respectively, were available for issuance under the 2006 Equity Plan. | ||||||||||||||
Stock Options | ||||||||||||||
The following summarizes the values from and assumptions for the Black-Scholes option pricing model: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Weighted average grant date fair value | $1.05 | $4.21 | $9.16 | |||||||||||
Weighted average risk-free interest rate | 1.31% | 1.14% | 2.38% | |||||||||||
Expected life | 4.9 years | 6.0 years | 6.0 years | |||||||||||
Weighted average volatility | 68.97% | 68.20% | 66.77% | |||||||||||
Expected dividends | — | — | — | |||||||||||
The following table summarizes our stock option activity for 2013: | ||||||||||||||
Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life | Aggregate Intrinsic Value | |||||||||||
(In years) | (In thousands) | |||||||||||||
Outstanding at January 1, 2013 | 4,979,980 | $ | 10.23 | |||||||||||
Granted | 2,037,467 | 1.95 | ||||||||||||
Exercised | — | — | ||||||||||||
Canceled | (85,004 | ) | 6.63 | |||||||||||
Expired | (160,865 | ) | 8.86 | |||||||||||
Outstanding at December 31, 2013 | 6,771,578 | $ | 7.82 | 6.4 | $ | — | ||||||||
Exercisable at December 31, 2013 | 4,576,677 | $ | 9.3 | 5.3 | $ | — | ||||||||
We estimate that a total of 6.3 million stock options will become vested including those options already exercisable. The unexercised options have a weighted average exercise price of $8.24 and a weighted average remaining contractual life of 6.2 years. | ||||||||||||||
As of December 31, 2013 the unrecognized compensation cost related to outstanding unvested options was $2.1 million, which is expected to be recognized in expense through August 2016. Compensation expense related to stock options of $3.9 million, $7.4 million and $7.0 million was recognized for 2013, 2012 and 2011, respectively. The income tax benefit recognized in income, prior to any tax valuation allowance consideration, related to this compensation expense during 2013 and 2012 was $1.3 million and $2.4 million, respectively. The total intrinsic value of options exercised during 2012 and 2011 was $0.1 million and $1.2 million, respectively. No options were exercised in 2013. | ||||||||||||||
Restricted Stock and Stock Units | ||||||||||||||
The following table summarizes our restricted stock and stock unit activity for 2013: | ||||||||||||||
Payable in shares | Payable in cash | |||||||||||||
Shares | Weighted | Shares | Weighted | |||||||||||
Average | Average | |||||||||||||
Grant Date | Grant Date | |||||||||||||
Fair Value | Fair Value | |||||||||||||
Outstanding at January 1, 2013 | 3,099,135 | $ | 8.48 | 678,217 | $ | 7.71 | ||||||||
Granted | 6,511,441 | 2.76 | 1,483,306 | 2.81 | ||||||||||
Vested | (2,524,332 | ) | 6.69 | (284,406 | ) | 8.51 | ||||||||
Canceled | (1,418,154 | ) | 3.68 | (304,776 | ) | 3.86 | ||||||||
Outstanding at December 31, 2013 | 5,668,090 | $ | 3.9 | 1,572,341 | $ | 3.69 | ||||||||
As of December 31, 2013, the unrecognized compensation cost related to outstanding unvested restricted stock and RSUs was $13.3 million, which is expected to be recognized through December 2016. Grants of restricted stock and RSUs during 2013 had an estimated grant date fair value of $22.1 million. The fair value of RSUs to be settled in cash was $4.8 million and $1.9 million during 2013 and 2012, respectively. For 2013, 2012 and 2011, compensation expense related to restricted stock and RSUs of $16.8 million, $15.7 million and $13.9 million, respectively, was recognized. The income tax benefit recognized in income, prior to any tax valuation allowance consideration, related to this compensation expense was $5.2 million during each of 2013 and 2012. The total fair value of shares vested during 2013, 2012 and 2011 was $7.1 million, $16.3 million and $13.6 million, respectively. | ||||||||||||||
In 2013, we recognized $2.4 million in stock-based compensation to correct for assumptions on forfeitures and vesting for retirement eligible and imminently retirement eligible individuals, which pertain to periods before 2013. | ||||||||||||||
Accumulated Other Comprehensive Income | ||||||||||||||
At December 31, 2013, AOCI included $94.5 million, net of tax, and $15.4 million for derivatives and foreign currency translation, respectively. At December 31, 2012, AOCI included $141.4 million, net of tax, and $20.1 million for derivatives and foreign currency translation, respectively. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share | ' | |||||||||||
EARNINGS PER SHARE | ||||||||||||
The following is a reconciliation of the numerator and denominator used for the computation of basic and diluted net income per common share. | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands, except per share data) | ||||||||||||
Net income (loss) attributable to Quicksilver | $ | 161,618 | $ | (2,352,606 | ) | $ | 90,046 | |||||
Basic income allocable to participating securities (1) | (4,252 | ) | — | (1,106 | ) | |||||||
Income (loss) available to shareholders | $ | 157,366 | $ | (2,352,606 | ) | $ | 88,940 | |||||
Weighted average common shares – basic | 171,518 | 170,106 | 168,993 | |||||||||
Effect of dilutive securities (2) | ||||||||||||
Share-based compensation awards | 141 | — | 742 | |||||||||
Weighted average common shares — diluted | 171,659 | 170,106 | 169,735 | |||||||||
Earnings (loss) per common share — basic | $ | 0.92 | $ | (13.83 | ) | $ | 0.53 | |||||
Earnings (loss) per common share — diluted | $ | 0.92 | $ | (13.83 | ) | $ | 0.52 | |||||
(1) | Restricted share awards that contain nonforfeitable rights to dividends are participating securities and, therefore, should be included in computing earnings using the two-class method. Participating securities, however, do not participate in undistributed net losses because there is no contractual obligation to do so. | |||||||||||
(2) | For 2013, 5.6 million shares associated with our stock options and 0.2 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. For 2012, 5.0 million shares associated with our stock options and 0.3 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. For 2011, the effects of 9.8 million shares associated with our convertible debentures for the period outstanding were antidilutive, and 1.9 million shares associated with our stock options and 0.1 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Condensed Consolidating Financial Information [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Condensed Consolidating Financial Information | ' | |||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING FINANCIAL INFORMATION | ||||||||||||||||||||||||||||||||||||
The following tables provide information about the entities that guarantee our senior notes and senior subordinated notes. The guarantees are full and unconditional and joint and several. | ||||||||||||||||||||||||||||||||||||
Under SEC rules, we are required to present financial information segregated between our guarantor and non-guarantor subsidiaries. The indentures under both our senior notes and our senior subordinated notes distinguish between “restricted” subsidiaries and “unrestricted” subsidiaries and further specify supplemental information that is not required under GAAP. The following table illustrates our subsidiaries and their status pursuant to the senior notes due 2015, senior notes due 2016, senior notes due 2019, senior notes due 2021 and the senior subordinated notes: | ||||||||||||||||||||||||||||||||||||
Guarantor Subsidiaries - | Non-Guarantor Subsidiaries | |||||||||||||||||||||||||||||||||||
Restricted | Restricted | Unrestricted | ||||||||||||||||||||||||||||||||||
Cowtown Pipeline Funding, Inc. | Quicksilver Resources Canada Inc. | Makarios Resources International Holdings LLC (2) | ||||||||||||||||||||||||||||||||||
Cowtown Pipeline Management, Inc. | Cowtown Drilling Inc. (1) | 1622834 Alberta Inc. (2) | ||||||||||||||||||||||||||||||||||
Cowtown Pipeline L.P. | Quicksilver Resources Partners Operating Ltd. (2) | Makarios Midstream Inc. (2) | ||||||||||||||||||||||||||||||||||
Cowtown Gas Processing L.P. | 0942065 B.C. Ltd. (3) | Makarios Resources International Inc. (2) | ||||||||||||||||||||||||||||||||||
Barnett Shale Operating LLC (2) | 0942069 B.C Ltd. (3) | Quicksilver Production Partners GP LLC (2) | ||||||||||||||||||||||||||||||||||
QPP Parent LLC (3) | Quicksilver Production Partners LP (2) | |||||||||||||||||||||||||||||||||||
QPP Holdings LLC (3) | ||||||||||||||||||||||||||||||||||||
Silver Stream Pipeline Company LLC (3) | ||||||||||||||||||||||||||||||||||||
-1 | This entity was inactive for the three-year period ended December 31, 2013. | |||||||||||||||||||||||||||||||||||
(2) | These entities were created in 2011. | |||||||||||||||||||||||||||||||||||
(3) | These entities were created in 2012. | |||||||||||||||||||||||||||||||||||
We own 100% of each of the restricted subsidiaries. | ||||||||||||||||||||||||||||||||||||
Quicksilver and the restricted subsidiaries conduct all of our exploration and production activities, and the unrestricted subsidiaries primarily conduct midstream operations. Neither the restricted non-guarantor subsidiaries nor the unrestricted non-guarantor subsidiaries guarantee the obligations under the senior notes or the senior subordinated notes. | ||||||||||||||||||||||||||||||||||||
However, the restricted non-guarantor subsidiaries, like the restricted guarantor subsidiaries, are limited in their activity by the covenants in the indentures for such matters as: | ||||||||||||||||||||||||||||||||||||
• | incurring additional indebtedness; | |||||||||||||||||||||||||||||||||||
• | paying dividends; | |||||||||||||||||||||||||||||||||||
• | selling assets; | |||||||||||||||||||||||||||||||||||
• | making investments; and | |||||||||||||||||||||||||||||||||||
• | making restricted payments. | |||||||||||||||||||||||||||||||||||
Subject to restrictions set forth in the indentures, we may in the future designate one or more additional subsidiaries as unrestricted. | ||||||||||||||||||||||||||||||||||||
The following tables present financial information about Quicksilver and our restricted subsidiaries for the annual periods covered by the consolidated financial statements. Under the indenture, Fortune Creek is not considered to be a subsidiary and therefore it is presented separately from the other subsidiaries for these purposes. | ||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Restricted | Quicksilver | Unrestricted | Fortune | Consolidating | Quicksilver | ||||||||||||||||||||||||||||
Resources | Guarantor | Non-Guarantor | Subsidiary | and | Non-Guarantor | Creek | Eliminations | Resources | ||||||||||||||||||||||||||||
Inc. | Subsidiaries | Subsidiaries | Eliminations | Restricted | Subsidiaries | Inc. | ||||||||||||||||||||||||||||||
Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||
Current assets | $ | 349,586 | $ | 10,735 | $ | 53,034 | $ | (19,642 | ) | $ | 393,713 | $ | 909 | $ | 1,110 | $ | (1,772 | ) | $ | 393,960 | ||||||||||||||||
Property and equipment | 455,822 | 15,486 | 307,865 | — | 779,173 | — | 81,632 | — | 860,805 | |||||||||||||||||||||||||||
Investment in subsidiaries (equity method) | (217,852 | ) | — | (33,840 | ) | 217,852 | (33,840 | ) | (33,840 | ) | — | 67,680 | — | |||||||||||||||||||||||
Other assets | 472,792 | — | 32,892 | (390,723 | ) | 114,961 | — | — | — | 114,961 | ||||||||||||||||||||||||||
Total assets | $ | 1,060,348 | $ | 26,221 | $ | 359,951 | $ | (192,513 | ) | $ | 1,254,007 | $ | (32,931 | ) | $ | 82,742 | $ | 65,908 | $ | 1,369,726 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||||||||||
Current liabilities | $ | 124,275 | $ | 12,210 | $ | 17,167 | $ | (19,642 | ) | $ | 134,010 | $ | 888 | $ | 1,671 | $ | (1,772 | ) | $ | 134,797 | ||||||||||||||||
Long-term liabilities | 1,942,043 | 19,242 | 542,659 | (390,723 | ) | 2,113,221 | — | 1,546 | 126,132 | 2,240,899 | ||||||||||||||||||||||||||
Quicksilver stockholders’ equity | (1,005,970 | ) | (5,231 | ) | (199,875 | ) | 217,852 | (993,224 | ) | (33,819 | ) | 79,525 | (58,452 | ) | (1,005,970 | ) | ||||||||||||||||||||
Total liabilities and equity | $ | 1,060,348 | $ | 26,221 | $ | 359,951 | $ | (192,513 | ) | $ | 1,254,007 | $ | (32,931 | ) | $ | 82,742 | $ | 65,908 | $ | 1,369,726 | ||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Restricted | Quicksilver | Unrestricted | Fortune | Consolidating | Quicksilver | ||||||||||||||||||||||||||||
Resources | Guarantor | Non-Guarantor | Subsidiary | and | Non-Guarantor | Creek | Eliminations | Resources | ||||||||||||||||||||||||||||
Inc. | Subsidiaries | Subsidiaries | Eliminations | Restricted | Subsidiaries | Inc. | ||||||||||||||||||||||||||||||
Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||
Current assets | $ | 261,130 | $ | 105,695 | $ | 76,088 | $ | (222,586 | ) | $ | 220,327 | $ | 13,250 | $ | 391 | $ | (26,455 | ) | $ | 207,513 | ||||||||||||||||
Property and equipment | 621,073 | 20,007 | 296,462 | — | 937,542 | — | 91,516 | — | 1,029,058 | |||||||||||||||||||||||||||
Investment in subsidiaries (equity method) | (191,725 | ) | — | (42,883 | ) | 191,725 | (42,883 | ) | (42,905 | ) | — | 85,788 | — | |||||||||||||||||||||||
Other assets | 346,972 | — | 41,865 | (243,620 | ) | 145,217 | — | — | — | 145,217 | ||||||||||||||||||||||||||
Total assets | $ | 1,037,450 | $ | 125,702 | $ | 371,532 | $ | (274,481 | ) | $ | 1,260,203 | $ | (29,655 | ) | $ | 91,907 | $ | 59,333 | $ | 1,381,788 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||||||||||
Current liabilities | $ | 255,678 | $ | 112,133 | $ | 33,475 | $ | (222,586 | ) | $ | 178,700 | $ | 13,230 | $ | 2,316 | $ | (26,455 | ) | $ | 167,791 | ||||||||||||||||
Long-term liabilities | 1,914,568 | 19,242 | 524,107 | (243,620 | ) | 2,214,297 | — | 1,585 | 130,912 | 2,346,794 | ||||||||||||||||||||||||||
Quicksilver stockholders’ equity | (1,132,796 | ) | (5,673 | ) | (186,050 | ) | 191,725 | (1,132,794 | ) | (42,885 | ) | 88,006 | (45,124 | ) | (1,132,797 | ) | ||||||||||||||||||||
Total liabilities and equity | $ | 1,037,450 | $ | 125,702 | $ | 371,532 | $ | (274,481 | ) | $ | 1,260,203 | $ | (29,655 | ) | $ | 91,907 | $ | 59,333 | $ | 1,381,788 | ||||||||||||||||
Condensed Consolidating Statements of Income | ||||||||||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Restricted | Quicksilver | Unrestricted | Fortune | Consolidating | Quicksilver | ||||||||||||||||||||||||||||
Resources | Guarantor | Non-Guarantor | Subsidiary | and | Non-Guarantor | Creek | Eliminations | Resources | ||||||||||||||||||||||||||||
Inc. | Subsidiaries | Subsidiaries | Eliminations | Restricted | Subsidiaries | Inc. | ||||||||||||||||||||||||||||||
Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Revenue | $ | 416,516 | $ | 788 | $ | 144,258 | $ | — | $ | 561,562 | $ | — | $ | 22,364 | $ | (22,364 | ) | $ | 561,562 | |||||||||||||||||
Operating expenses | 329,975 | 346 | 118,481 | — | 448,802 | — | 9,808 | (22,364 | ) | 436,246 | ||||||||||||||||||||||||||
Tokyo Gas Transaction gain | 339,328 | — | — | — | 339,328 | — | — | — | 339,328 | |||||||||||||||||||||||||||
Equity in net earnings of subsidiaries | (9,896 | ) | — | (6,682 | ) | 9,896 | (6,682 | ) | 12,563 | — | (5,881 | ) | — | |||||||||||||||||||||||
Operating income (loss) | 415,973 | 442 | 19,095 | 9,896 | 445,406 | 12,563 | 12,556 | (5,881 | ) | 464,644 | ||||||||||||||||||||||||||
Fortune Creek accretion | — | — | — | — | — | — | — | (19,245 | ) | (19,245 | ) | |||||||||||||||||||||||||
Interest expense and other | (242,279 | ) | — | (26,959 | ) | — | (269,238 | ) | — | 7 | — | (269,231 | ) | |||||||||||||||||||||||
Income tax expense | (12,076 | ) | — | (2,474 | ) | — | (14,550 | ) | — | — | — | (14,550 | ) | |||||||||||||||||||||||
Net income (loss) | $ | 161,618 | $ | 442 | $ | (10,338 | ) | $ | 9,896 | $ | 161,618 | $ | 12,563 | $ | 12,563 | $ | (25,126 | ) | $ | 161,618 | ||||||||||||||||
Other comprehensive loss | (40,166 | ) | — | (11,446 | ) | — | (51,612 | ) | — | — | — | (51,612 | ) | |||||||||||||||||||||||
Equity in OCI of subsidiaries | (11,446 | ) | — | — | 11,446 | — | — | — | — | — | ||||||||||||||||||||||||||
Comprehensive income (loss) | $ | 110,006 | $ | 442 | $ | (21,784 | ) | $ | 21,342 | $ | 110,006 | $ | 12,563 | $ | 12,563 | $ | (25,126 | ) | $ | 110,006 | ||||||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Restricted | Quicksilver | Unrestricted | Fortune | Consolidating | Quicksilver | ||||||||||||||||||||||||||||
Resources | Guarantor | Non-Guarantor | Subsidiary | and | Non-Guarantor | Creek | Eliminations | Resources | ||||||||||||||||||||||||||||
Inc. | Subsidiaries | Subsidiaries | Eliminations | Restricted | Subsidiaries | Inc. | ||||||||||||||||||||||||||||||
Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Revenue | $ | 611,477 | $ | 4,574 | $ | 95,887 | $ | (2,900 | ) | $ | 709,038 | $ | — | $ | 14,639 | $ | (14,639 | ) | $ | 709,038 | ||||||||||||||||
Operating expenses | 2,643,690 | 4,109 | 577,696 | (2,900 | ) | 3,222,595 | — | 7,940 | (14,639 | ) | 3,215,896 | |||||||||||||||||||||||||
Crestwood earn-out | 41,097 | — | — | — | 41,097 | — | — | — | 41,097 | |||||||||||||||||||||||||||
Equity in net earnings of subsidiaries | (437,510 | ) | — | (12,747 | ) | 437,510 | (12,747 | ) | 6,726 | — | 6,021 | — | ||||||||||||||||||||||||
Operating income (loss) | (2,428,626 | ) | 465 | (494,556 | ) | 437,510 | (2,485,207 | ) | 6,726 | 6,699 | 6,021 | (2,465,761 | ) | |||||||||||||||||||||||
Fortune Creek accretion | — | — | — | — | — | — | — | (19,472 | ) | (19,472 | ) | |||||||||||||||||||||||||
Interest expense and other | (152,077 | ) | — | (10,914 | ) | — | (162,991 | ) | 21 | 27 | — | (162,943 | ) | |||||||||||||||||||||||
Income tax (expense) benefit | 228,097 | (163 | ) | 67,658 | — | 295,592 | — | — | (22 | ) | 295,570 | |||||||||||||||||||||||||
Net income (loss) | $ | (2,352,606 | ) | $ | 302 | $ | (437,812 | ) | $ | 437,510 | $ | (2,352,606 | ) | $ | 6,747 | $ | 6,726 | $ | (13,473 | ) | $ | (2,352,606 | ) | |||||||||||||
Other comprehensive income (loss) | (57,273 | ) | — | 3,908 | — | (53,365 | ) | — | — | — | (53,365 | ) | ||||||||||||||||||||||||
Equity in OCI of subsidiaries | 3,908 | — | — | (3,908 | ) | — | — | — | — | — | ||||||||||||||||||||||||||
Comprehensive income (loss) | $ | (2,405,971 | ) | $ | 302 | $ | (433,904 | ) | $ | 433,602 | $ | (2,405,971 | ) | $ | 6,747 | $ | 6,726 | $ | (13,473 | ) | $ | (2,405,971 | ) | |||||||||||||
For the Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Consolidating | Quicksilver | ||||||||||||||||||||||||||||||||
Resources Inc. | Guarantor | Non-Guarantor | Eliminations | Resources Inc. | ||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Consolidated | ||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Revenue | $ | 778,741 | $ | 4,573 | $ | 163,864 | $ | (3,555 | ) | $ | 943,623 | |||||||||||||||||||||||||
Operating expenses | 603,582 | 64,476 | 156,516 | (3,555 | ) | 821,019 | ||||||||||||||||||||||||||||||
Equity in net earnings of subsidiaries | (40,725 | ) | — | — | 40,725 | — | ||||||||||||||||||||||||||||||
Operating income (loss) | 134,434 | (59,903 | ) | 7,348 | 40,725 | 122,604 | ||||||||||||||||||||||||||||||
Income from earnings of BBEP | (8,439 | ) | — | — | — | (8,439 | ) | |||||||||||||||||||||||||||||
Interest expense and other | 39,252 | 18 | (5,526 | ) | — | 33,744 | ||||||||||||||||||||||||||||||
Income tax (expense) benefit | (75,201 | ) | 20,960 | (3,622 | ) | — | (57,863 | ) | ||||||||||||||||||||||||||||
Net income (loss) | $ | 90,046 | $ | (38,925 | ) | $ | (1,800 | ) | $ | 40,725 | $ | 90,046 | ||||||||||||||||||||||||
Other comprehensive income (loss) | 67,493 | — | 17,178 | (17,178 | ) | 67,493 | ||||||||||||||||||||||||||||||
Equity in OCI of subsidiaries | 17,178 | — | — | — | 17,178 | |||||||||||||||||||||||||||||||
Comprehensive income (loss) | $ | 174,717 | $ | (38,925 | ) | $ | 15,378 | $ | 23,547 | $ | 174,717 | |||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Quicksilver | Unrestricted Non-Guarantor Subsidiaries | Fortune Creek | Quicksilver | ||||||||||||||||||||||||||||||
Resources Inc. | Guarantor | Non-Guarantor | and Restricted | Resources Inc. | ||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Net cash flow provided by (used in) operating activities | $ | (78,565 | ) | $ | — | $ | 16,456 | $ | (62,109 | ) | $ | — | $ | 10,409 | $ | (51,700 | ) | |||||||||||||||||||
Capital expenditures | (67,263 | ) | — | (33,520 | ) | (100,783 | ) | — | (505 | ) | (101,288 | ) | ||||||||||||||||||||||||
Proceeds from Tokyo Gas Transaction | 463,999 | — | — | 463,999 | — | — | 463,999 | |||||||||||||||||||||||||||||
Proceeds from Synergy Transaction | 42,297 | — | — | 42,297 | — | — | 42,297 | |||||||||||||||||||||||||||||
Proceeds from sale of properties and equipment | 7,128 | — | 43 | 7,171 | — | — | 7,171 | |||||||||||||||||||||||||||||
Purchase of marketable securities | (213,738 | ) | — | — | (213,738 | ) | — | — | (213,738 | ) | ||||||||||||||||||||||||||
Maturities and sales of marketable securities | 47,603 | — | — | 47,603 | — | — | 47,603 | |||||||||||||||||||||||||||||
Net cash flow provided by (used in) investing activities | 280,026 | — | (33,477 | ) | 246,549 | — | (505 | ) | 246,044 | |||||||||||||||||||||||||||
Issuance of debt | 1,215,266 | — | 22,086 | 1,237,352 | — | — | 1,237,352 | |||||||||||||||||||||||||||||
Repayments of debt | (1,157,969 | ) | — | (150,413 | ) | (1,308,382 | ) | — | — | (1,308,382 | ) | |||||||||||||||||||||||||
Debt issuance costs | (26,296 | ) | — | — | (26,296 | ) | — | — | (26,296 | ) | ||||||||||||||||||||||||||
Intercompany Note | (147,103 | ) | — | 147,103 | — | — | — | — | ||||||||||||||||||||||||||||
Distribution of Fortune Creek Partnership funds | — | — | — | — | — | (14,965 | ) | (14,965 | ) | |||||||||||||||||||||||||||
Purchase of treasury stock | (1,927 | ) | — | — | (1,927 | ) | — | — | (1,927 | ) | ||||||||||||||||||||||||||
Net cash flow provided by (used in) financing activities | (118,029 | ) | — | 18,776 | (99,253 | ) | — | (14,965 | ) | (114,218 | ) | |||||||||||||||||||||||||
Effect of exchange rates on cash | — | — | (1,755 | ) | (1,755 | ) | — | 5,781 | 4,026 | |||||||||||||||||||||||||||
Net increase in cash and equivalents | 83,432 | — | — | 83,432 | — | 720 | 84,152 | |||||||||||||||||||||||||||||
Cash and equivalents at beginning of period | 4,618 | — | — | 4,618 | — | 333 | 4,951 | |||||||||||||||||||||||||||||
Cash and equivalents at end of period | $ | 88,050 | $ | — | $ | — | $ | 88,050 | $ | — | $ | 1,053 | $ | 89,103 | ||||||||||||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Quicksilver | Unrestricted Non-Guarantor Subsidiaries | Fortune Creek | Quicksilver | ||||||||||||||||||||||||||||||
Resources Inc. | Guarantor | Non-Guarantor | and Restricted | Resources Inc. | ||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Net cash flow provided by operating activities | $ | 163,353 | $ | 656 | $ | 49,271 | $ | 213,280 | $ | — | $ | 14,447 | $ | 227,727 | ||||||||||||||||||||||
Capital expenditures | (231,934 | ) | (656 | ) | (242,158 | ) | (474,748 | ) | — | (10,731 | ) | (485,479 | ) | |||||||||||||||||||||||
Proceeds from Crestwood earn-out | 41,097 | — | — | 41,097 | — | — | 41,097 | |||||||||||||||||||||||||||||
Proceeds from sale of properties and equipment | 72,362 | — | 363 | 72,725 | — | — | 72,725 | |||||||||||||||||||||||||||||
Net cash flow used in investing activities | (118,475 | ) | (656 | ) | (241,795 | ) | (360,926 | ) | — | (10,731 | ) | (371,657 | ) | |||||||||||||||||||||||
Issuance of debt | 228,500 | — | 239,459 | 467,959 | — | — | 467,959 | |||||||||||||||||||||||||||||
Repayments of debt | (264,018 | ) | — | (46,412 | ) | (310,430 | ) | — | — | (310,430 | ) | |||||||||||||||||||||||||
Debt issuance costs | (1,972 | ) | — | (1,050 | ) | (3,022 | ) | — | — | (3,022 | ) | |||||||||||||||||||||||||
Distribution of Fortune Creek Partnership funds | — | — | — | — | — | (14,285 | ) | (14,285 | ) | |||||||||||||||||||||||||||
Proceeds from exercise of stock options | 11 | — | — | 11 | — | — | 11 | |||||||||||||||||||||||||||||
Purchase of treasury stock | (3,144 | ) | — | — | (3,144 | ) | — | — | (3,144 | ) | ||||||||||||||||||||||||||
Net cash flow provided by (used in) financing activities | (40,623 | ) | — | 191,997 | 151,374 | — | (14,285 | ) | 137,089 | |||||||||||||||||||||||||||
Effect of exchange rates on cash | — | — | 527 | 527 | — | (1,881 | ) | (1,354 | ) | |||||||||||||||||||||||||||
Net increase (decrease) in cash and equivalents | 4,255 | — | — | 4,255 | — | (12,450 | ) | (8,195 | ) | |||||||||||||||||||||||||||
Cash and equivalents at beginning of period | 363 | — | — | 363 | — | 12,783 | 13,146 | |||||||||||||||||||||||||||||
Cash and equivalents at end of period | $ | 4,618 | $ | — | $ | — | $ | 4,618 | $ | — | $ | 333 | $ | 4,951 | ||||||||||||||||||||||
For the Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Quicksilver | Fortune | Consolidating | Quicksilver | ||||||||||||||||||||||||||||||
Resources Inc. | Guarantor | Non-Guarantor | and Restricted | Creek | Eliminations | Resources Inc. | ||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Net cash flow provided by operating activities | $ | 202,043 | $ | 2,225 | $ | 48,785 | $ | 253,053 | $ | — | $ | — | $ | 253,053 | ||||||||||||||||||||||
Capital expenditures | (518,454 | ) | (2,225 | ) | (169,928 | ) | (690,607 | ) | — | — | (690,607 | ) | ||||||||||||||||||||||||
Proceeds from sale of BBEP units | 272,965 | — | — | 272,965 | — | — | 272,965 | |||||||||||||||||||||||||||||
Investment in Fortune Creek | — | — | (12,783 | ) | (12,783 | ) | — | 12,783 | — | |||||||||||||||||||||||||||
Proceeds from sale of properties and equipment | 2,959 | — | 1,204 | 4,163 | — | — | 4,163 | |||||||||||||||||||||||||||||
Net cash flow provided by (used in) investing activities | (242,530 | ) | (2,225 | ) | (181,507 | ) | (426,262 | ) | — | 12,783 | (413,479 | ) | ||||||||||||||||||||||||
Issuance of debt | 587,500 | — | 268,322 | 855,822 | — | — | 855,822 | |||||||||||||||||||||||||||||
Repayments of debt | (588,862 | ) | — | (254,246 | ) | (843,108 | ) | — | — | (843,108 | ) | |||||||||||||||||||||||||
Debt issuance costs | (9,160 | ) | — | (3,346 | ) | (12,506 | ) | — | — | (12,506 | ) | |||||||||||||||||||||||||
Proceeds from exercise of stock options | 1,299 | — | — | 1,299 | — | — | 1,299 | |||||||||||||||||||||||||||||
Partnership funds received | — | — | — | — | 135,696 | (12,783 | ) | 122,913 | ||||||||||||||||||||||||||||
Creation of partnership liability | — | — | 122,913 | 122,913 | (122,913 | ) | — | — | ||||||||||||||||||||||||||||
Purchase of treasury stock | (4,864 | ) | — | — | (4,864 | ) | — | — | (4,864 | ) | ||||||||||||||||||||||||||
Net cash flow provided by (used in) financing activities | (14,087 | ) | — | 133,643 | 119,556 | 12,783 | (12,783 | ) | 119,556 | |||||||||||||||||||||||||||
Effect of exchange rates on cash | — | — | (921 | ) | (921 | ) | — | — | (921 | ) | ||||||||||||||||||||||||||
Net increase (decrease) in cash and equivalents | (54,574 | ) | — | — | (54,574 | ) | 12,783 | — | (41,791 | ) | ||||||||||||||||||||||||||
Cash and equivalents at beginning of period | 54,937 | — | — | 54,937 | — | — | 54,937 | |||||||||||||||||||||||||||||
Cash and equivalents at end of period | $ | 363 | $ | — | $ | — | $ | 363 | $ | 12,783 | $ | — | $ | 13,146 | ||||||||||||||||||||||
Segment_Information
Segment Information | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Segment Information | ' | |||||||||||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||||||||||
We operate in two geographic segments, the U.S. and Canada, where we are engaged in the exploration and production segment of the oil and gas industry. Additionally, we operate a significantly smaller midstream segment in the U.S. and Canada, where we provide natural gas gathering and processing services, primarily to our U.S. and Canadian exploration and production segments. Following the formation of our partnership with KKR, beginning in January 2012, we have additional midstream operations in Canada through Fortune Creek. Revenue earned by Fortune Creek for the gathering and processing of our gas is eliminated on a consolidated basis as is the GPT recognized by our producing properties. Based on the immateriality of our midstream segment, we have combined our U.S. and Canadian midstream information. We evaluate performance based on operating income and property and equipment costs incurred. | ||||||||||||||||||||||||
Exploration & Production | Midstream | Quicksilver | ||||||||||||||||||||||
U.S. | Canada | Corporate | Elimination | Consolidated | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||
Revenue | $ | 416,462 | $ | 141,870 | $ | 25,594 | $ | — | $ | (22,364 | ) | $ | 561,562 | |||||||||||
DD&A | 37,540 | 17,508 | 5,249 | 2,315 | — | 62,612 | ||||||||||||||||||
Impairment expense | 1,809 | — | 54 | — | — | 1,863 | ||||||||||||||||||
Operating income (loss) | 476,610 | 32,648 | 13,008 | (57,622 | ) | — | 464,644 | |||||||||||||||||
Property and equipment costs incurred | 64,976 | 16,838 | 7,055 | 9,792 | — | 98,661 | ||||||||||||||||||
2012 | ||||||||||||||||||||||||
Revenue | $ | 598,892 | $ | 105,949 | $ | 21,735 | $ | — | $ | (17,538 | ) | $ | 709,038 | |||||||||||
DD&A | 123,370 | 32,686 | 5,182 | 2,386 | — | 163,624 | ||||||||||||||||||
Impairment expense | 2,152,665 | 465,935 | 7,328 | — | — | 2,625,928 | ||||||||||||||||||
Operating income (loss) | (1,921,073 | ) | (474,768 | ) | 8,163 | (78,083 | ) | — | (2,465,761 | ) | ||||||||||||||
Property and equipment costs incurred | 189,997 | 174,867 | 18,742 | 6,850 | — | 390,456 | ||||||||||||||||||
2011 | ||||||||||||||||||||||||
Revenue | $ | 806,657 | $ | 135,948 | $ | 4,573 | $ | — | $ | (3,555 | ) | $ | 943,623 | |||||||||||
DD&A | 171,438 | 47,116 | 4,889 | 2,320 | — | 225,763 | ||||||||||||||||||
Impairment expense | — | 49,063 | 57,996 | — | — | 107,059 | ||||||||||||||||||
Operating income (loss) | 251,495 | 12,914 | (59,903 | ) | (81,902 | ) | — | 122,604 | ||||||||||||||||
Property and equipment costs incurred | 487,145 | 131,699 | 64,119 | 11,516 | — | 694,479 | ||||||||||||||||||
Property, plant and equipment—net | ||||||||||||||||||||||||
31-Dec-13 | $ | 451,840 | $ | 306,423 | $ | 97,118 | $ | 5,424 | $ | — | $ | 860,805 | ||||||||||||
31-Dec-12 | 614,071 | 294,921 | 111,523 | 8,543 | — | 1,029,058 | ||||||||||||||||||
Total assets | ||||||||||||||||||||||||
31-Dec-13 | $ | 895,388 | $ | 359,951 | $ | 108,963 | $ | 5,424 | $ | — | $ | 1,369,726 | ||||||||||||
31-Dec-12 | 784,104 | 371,532 | 217,609 | 8,543 | — | 1,381,788 | ||||||||||||||||||
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||||
Supplemental Cash Flow Information | ' | |||||||||||
SUPPLEMENTAL CASH FLOW INFORMATION | ||||||||||||
Cash paid (received) for interest and income taxes is as follows: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Interest, net of capitalized interest | $ | 254,901 | $ | 154,663 | $ | 170,814 | ||||||
Income taxes | 833 | (20,682 | ) | (4,249 | ) | |||||||
Other significant non-cash transactions are as follows: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Working capital related to capital expenditures | $ | 10,324 | $ | 10,939 | $ | 107,586 | ||||||
Note receivable received for sale of land and building | — | — | 5,300 | |||||||||
Employee_Benefits
Employee Benefits | 12 Months Ended | |
Dec. 31, 2013 | ||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | |
Employee Benefits | ' | |
EMPLOYEE BENEFITS | ||
Quicksilver has a 401(k) retirement plan available to all U.S. full time employees who are at least 21 years of age. We make matching contributions and a fixed annual contribution and have the ability to make discretionary contributions to the plan. Expense associated with company contributions was $1.8 million, $2.3 million and $2.3 million for 2013, 2012 and 2011, respectively. | ||
We have a retirement plan available to all Canadian employees. The plan provides for a match of employees’ contributions by us and a fixed annual contribution. Expense associated with company contributions for 2013, 2012 and 2011 was $0.7 million, $0.7 million and $0.8 million, respectively. | ||
We maintain a self-funded health benefit plan that covers all eligible U.S. employees. The plan has been reinsured on an individual claim and total group claim basis. We have an individual stop loss of $125,000. For 2013, 2012 and 2011 we recognized expense of $4.0 million, $5.0 million and $4.8 million, respectively, for this plan. |
Transactions_With_Related_Part
Transactions With Related Parties | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Transactions With Related Parties | ' |
TRANSACTIONS WITH RELATED PARTIES | |
As of February 28, 2014, members of the Darden family and entities controlled by them beneficially own approximately 30% of our outstanding common stock. Glenn Darden and Anne Darden Self are officers and directors, and Thomas Darden is a director, of Quicksilver. | |
During 2013, we paid $0.2 million in commission to an entity controlled by members of the Darden family in connection with the sublease of a portion of our office space. Additionally, we paid $0.1 million in 2012 and $0.2 million in 2011 for rent and property management services on buildings owned by entities controlled by members of the Darden family. Rental rates were determined based on comparable rates charged by third parties. In December 2011, we purchased a manufacturing facility from an entity controlled by members of the Darden family for $1.1 million. We previously leased this facility from the seller for the manufacture of oil and gas equipment. | |
During 2013, 2012 and 2011, we paid $0.3 million, $0.5 million and $0.9 million for use of an airplane owned by an entity controlled by members of the Darden family. Usage rates were determined based upon comparable rates charged by third parties. | |
Payments received from Mercury, a company owned by members of the Darden family, for sublease rentals, employee insurance coverage and administrative services were $0.1 million in each of 2013, 2012 and 2011. | |
In May 2013, we entered into an agreement with Thomas F. Darden with respect to Mr. Darden’s retirement and Mr. Darden’s provision of consulting services following his retirement. Effective May 15, 2013, Mr. Darden retired from his executive position and continued to serve as a non-officer employee through December 31, 2013. Mr. Darden continues to serve as a member of the Board of Directors as Chairman Emeritus. In recognition of his contributions to the Tokyo Gas Transaction, Mr. Darden received a cash bonus of $1.1 million paid in two equal installments in May 2013 and August 2013, and a stock option grant with an aggregate grant date fair value of $1.1 million granted in May 2013. Both the cash bonus and the stock option grant are included in the Tokyo Gas Transaction gain on our consolidated financial statements. In connection with his retirement, he received full vesting of his outstanding unvested equity awards (242,724 shares of restricted stock and 304,407 options); reimbursement of legal fees in connection with the agreement, up to $40,000; and payment of accrued and unused vacation and estimated COBRA premiums. Mr. Darden is engaged as a consultant for the three-year period following his retirement as an employee and receives a monthly consulting fee of $45,000. In addition, while a consultant, Mr. Darden is entitled to an office allowance of $12,500 per month, and additional reimbursements, with respect to certain business expenses. In addition, Mr. Darden is eligible to receive bonuses of up to $2.5 million in the aggregate under certain circumstances in connection with certain possible future strategic transactions occurring on or before December 31, 2016. |
Supplemental_Selected_Quarterl
Supplemental Selected Quarterly Financial Data (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||
Supplemental Selected Quarterly Financial Data | ' | |||||||||||||||
SUPPLEMENTAL SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | ||||||||||||||||
The following table presents selected quarterly financial data derived from our consolidated financial statements. This summary should be read in conjunction with our consolidated financial statements and related notes also contained in this Item 8 to our Annual Report on Form 10-K. | ||||||||||||||||
Quarter Ended | ||||||||||||||||
March 31 | June 30 | September 30 | December 31 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
2013 (1) (2) (3) | ||||||||||||||||
Operating revenue | $ | 118,703 | $ | 175,497 | $ | 153,116 | $ | 114,246 | ||||||||
Operating income (loss) | (3,874 | ) | 394,894 | 60,049 | 13,575 | |||||||||||
Net income (loss) | (59,707 | ) | 242,523 | 10,577 | (31,775 | ) | ||||||||||
Basic net earnings per share | $ | (0.35 | ) | $ | 1.37 | $ | 0.06 | $ | (0.18 | ) | ||||||
Diluted net earnings per share | (0.35 | ) | 1.37 | 0.06 | (0.18 | ) | ||||||||||
2012 (4) (5) (6) (7) | ||||||||||||||||
Operating revenue | $ | 172,866 | $ | 194,018 | $ | 118,188 | $ | 223,966 | ||||||||
Operating loss | (267,985 | ) | (1,153,012 | ) | (576,551 | ) | (468,213 | ) | ||||||||
Net loss | (211,565 | ) | (802,022 | ) | (790,520 | ) | (548,499 | ) | ||||||||
Basic net earnings per share | $ | (1.24 | ) | $ | (4.72 | ) | $ | (4.65 | ) | $ | (3.22 | ) | ||||
Diluted net earnings per share | (1.24 | ) | (4.72 | ) | (4.65 | ) | (3.22 | ) | ||||||||
(1) | Operating income for the second quarter of 2013 includes gains of $333.2 million related to the Tokyo Gas Transaction which was subsequently adjusted in later quarters to be a gain of $339.3 million. The period also includes an immaterial correction of $3.6 million for equity-based compensation granted to retirement-eligible employees whose awards required no future service at the time of grant but which expense was being recognized over multiple periods. The impact to the first quarter of 2013 expense was $1.2 million and the impact to 2012 and prior years was $2.4 million. | |||||||||||||||
(2) | Operating income for the third quarter of 2013 includes an increase of $8.2 million to correct for immaterial items which pertain to earlier quarters in 2013, comprised of an increase to the gain related to the Tokyo Gas Transaction of $7.8 million arising from a change to the amount of unevaluated properties allocated to TGBR. | |||||||||||||||
(3) | Operating income for the fourth quarter of 2013 includes a decrease of $5.9 million to correct for immaterial items which pertain to prior 2013 quarters. These items include an adjustment to non-cash expense to settle litigation recognized in the first quarter of 2013 of $3.0 million, non-cash decrease in the gain related to the Tokyo Gas Transaction of $1.7 million arising from a change in the amount of surface real estate conveyed to TGBR, increase in the amortization of deferred financing costs and original issue discount of $0.8 million and strategic transaction fees of $0.5 million arising in the second quarter of 2013. | |||||||||||||||
(4) | Operating loss for the first quarter of 2012 includes charges for impairment of $178.0 million and $139.9 million for our U.S. and Canadian oil and gas properties, respectively. | |||||||||||||||
(5) | Operating loss for the second quarter of 2012 includes charges for impairment of $1,042.7 million and $157.0 million for our U.S. and Canadian oil and gas properties, respectively. | |||||||||||||||
(6) | Operating loss for the third quarter of 2012 includes charges for impairment of $479.9 million and $66.3 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $4.9 million impairment charge for other property and equipment in Colorado. Net loss includes a valuation allowance for the U.S. of $359.9 million. | |||||||||||||||
(7) | Operating loss for the fourth quarter of 2012 includes charges for impairment of $451.5 million and $102.8 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $2.9 million impairment charge related to non-oil and gas properties. Net loss includes a valuation allowance for Canada of $61.3 million. |
Supplemental_Oil_and_Gas_Infor
Supplemental Oil and Gas Information (Unaudited) (Notes) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Oil and Gas Exploration and Production Industries Disclosures [Abstract] | ' | ||||||||||||||||||||||||||
Supplemental Oil and Gas Information (Unaudited) | ' | ||||||||||||||||||||||||||
SUPPLEMENTAL OIL AND GAS INFORMATION (UNAUDITED) | |||||||||||||||||||||||||||
Proved oil and gas reserves estimates for our properties in the U.S. and Canada were prepared by independent petroleum engineers from Schlumberger Technology Corporation and LaRoche Petroleum Consultants, Ltd., respectively. The reserve reports were prepared in accordance with guidelines established by the SEC. Natural gas, NGL and oil prices used in the 2013, 2012 and 2011 reserve reports are the unweighted average of the preceding 12-month first-day-of-the-month prices as of the date of the reserve reports. For all years, operating costs, production and ad valorem taxes and future development costs were based on year-end costs with no escalation. | |||||||||||||||||||||||||||
There are numerous uncertainties inherent in estimating quantities of proved reserves and in projecting the future rates of production and timing of development expenditures. The following reserve data represent estimates only and should not be construed as being exact. Moreover, the present values should not be construed as the current market value of our natural gas, NGL and oil reserves or the costs that would be incurred to obtain equivalent reserves. | |||||||||||||||||||||||||||
The changes in our proved reserves for the three years ended December 31, 2013 were as follows: | |||||||||||||||||||||||||||
Natural Gas (MMcf) | NGL (MBbl) | Oil (MBbl) | |||||||||||||||||||||||||
U.S. | Canada | Total | U.S. | Canada | Total | U.S. | Canada | Total | |||||||||||||||||||
December 31, 2010 | 1,941,723 | 265,888 | 2,207,611 | 112,444 | 12 | 112,456 | 3,308 | — | 3,308 | ||||||||||||||||||
Revisions (3) | (172,643 | ) | 15,066 | (157,577 | ) | (8,519 | ) | 1 | (8,518 | ) | (43 | ) | — | (43 | ) | ||||||||||||
Extensions and discoveries (2) | 155,662 | 76,067 | 231,729 | 2,652 | — | 2,652 | 43 | — | 43 | ||||||||||||||||||
Production | (95,838 | ) | (26,390 | ) | (122,228 | ) | (4,432 | ) | (2 | ) | (4,434 | ) | (273 | ) | — | (273 | ) | ||||||||||
31-Dec-11 | 1,828,904 | 330,631 | 2,159,535 | 102,145 | 11 | 102,156 | 3,035 | — | 3,035 | ||||||||||||||||||
Revisions (3) | (910,386 | ) | (33,945 | ) | (944,331 | ) | (45,379 | ) | 1 | (45,378 | ) | (479 | ) | — | (479 | ) | |||||||||||
Extensions and discoveries (2) | 25,858 | 9 | 25,867 | 3,518 | — | 3,518 | 345 | — | 345 | ||||||||||||||||||
Sales in place (1) | (20,616 | ) | — | (20,616 | ) | (42 | ) | — | (42 | ) | (85 | ) | — | (85 | ) | ||||||||||||
Production | (75,712 | ) | (29,912 | ) | (105,624 | ) | (4,069 | ) | (2 | ) | (4,071 | ) | (287 | ) | — | (287 | ) | ||||||||||
31-Dec-12 | 848,048 | 266,783 | 1,114,831 | 56,173 | 10 | 56,183 | 2,529 | — | 2,529 | ||||||||||||||||||
Revisions (3) | 234,835 | 28,648 | 263,483 | 750 | — | 750 | 62 | — | 62 | ||||||||||||||||||
Extensions and discoveries (2) | 50,992 | 9,697 | 60,689 | — | — | — | — | — | — | ||||||||||||||||||
Sales in place (4) | (257,741 | ) | — | (257,741 | ) | (14,333 | ) | — | (14,333 | ) | (2,207 | ) | — | (2,207 | ) | ||||||||||||
Production | (51,684 | ) | (39,372 | ) | (91,056 | ) | (2,856 | ) | (1 | ) | (2,857 | ) | (185 | ) | — | (185 | ) | ||||||||||
31-Dec-13 | 824,450 | 265,756 | 1,090,206 | 39,734 | 9 | 39,743 | 199 | — | 199 | ||||||||||||||||||
Proved developed reserves | |||||||||||||||||||||||||||
31-Dec-11 | 1,244,187 | 299,371 | 1,543,558 | 60,902 | 11 | 60,913 | 2,545 | — | 2,545 | ||||||||||||||||||
31-Dec-12 | 725,361 | 266,783 | 992,144 | 47,284 | 10 | 47,294 | 2,416 | — | 2,416 | ||||||||||||||||||
31-Dec-13 | 702,147 | 260,159 | 962,306 | 34,603 | 9 | 34,612 | 139 | — | 139 | ||||||||||||||||||
Proved undeveloped reserves | |||||||||||||||||||||||||||
31-Dec-11 | 584,717 | 31,260 | 615,977 | 41,243 | — | 41,243 | 490 | — | 490 | ||||||||||||||||||
31-Dec-12 | 122,687 | — | 122,687 | 8,890 | — | 8,890 | 113 | — | 113 | ||||||||||||||||||
31-Dec-13 | 122,303 | 5,896 | 128,199 | 5,131 | — | 5,131 | 60 | — | 60 | ||||||||||||||||||
(1) | Sales of reserves in place during 2012 relate to our agreement to allow an outside working interest owner to fund the completion costs for twelve wells in our Barnett Shale Asset for which they received a preferential right to reserves. It also includes a minimal sale of reserves in our Niobrara Asset to SWEPI. | ||||||||||||||||||||||||||
(2) | Extensions and discoveries for each period presented represent extensions to reserves attributable to additional drilling activity subsequent to discovery. U.S. extensions and discoveries for: | ||||||||||||||||||||||||||
• | 2013 are attributable to our Barnett Shale Asset; | ||||||||||||||||||||||||||
• | 2012 are 96% attributable to our Barnett Shale Asset, 4% to our Niobrara and West Texas Assets (of which 13% were proved developed); and | ||||||||||||||||||||||||||
• | 2011 are 100% attributable to our Barnett Shale Asset (of which 11% were proved developed). | ||||||||||||||||||||||||||
Canadian extensions and discoveries for: | |||||||||||||||||||||||||||
• | 2013 and 2012 are attributable to our Horseshoe Canyon Asset; and | ||||||||||||||||||||||||||
• | 2011 are 97% attributable to our Horn River Asset and 3% are attributable to our Horseshoe Canyon Asset. | ||||||||||||||||||||||||||
(3) | Revisions for each period presented reflect upward (downward) changes in previous estimates attributable to changes in economic factors of 419,972 MMcfe, (590,064) MMcfe and (54,539) MMcfe in 2013, 2012 and 2011, respectively, and changes in non-economic factors of (151,615) MMcfe, (629,407) MMcfe and (154,405) MMcfe in 2013, 2012 and 2011, respectively, including: | ||||||||||||||||||||||||||
• | Removal of proved undeveloped reserves that had not been developed within five years: (76) Bcfe and (250) Bcfe in 2013 and 2012, respectively; | ||||||||||||||||||||||||||
• | changes in performance related to offsetting activities, higher pipeline pressures and other factors: (74) Bcfe and (291) Bcfe in 2013 and 2012, respectively and | ||||||||||||||||||||||||||
• | revision of type curve of non producing wells based on comparison to producing analogs: (88) Bcfe in 2012. | ||||||||||||||||||||||||||
(4) | Sales of reserves in place during 2013 relate to the Tokyo Gas Transaction (337 Bcfe) and the Synergy Transaction (15 Bcfe). | ||||||||||||||||||||||||||
The carrying value of our oil and gas assets as of December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||||
U.S. | Canada | Consolidated | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||
Proved properties | $ | 4,645,777 | $ | 1,041,780 | $ | 5,687,557 | |||||||||||||||||||||
Unevaluated properties | 19,343 | 202,262 | 221,605 | ||||||||||||||||||||||||
Accumulated DD&A | (4,268,387 | ) | (1,000,332 | ) | (5,268,719 | ) | |||||||||||||||||||||
Net capitalized costs | $ | 396,733 | $ | 243,710 | $ | 640,443 | |||||||||||||||||||||
2012 | |||||||||||||||||||||||||||
Proved properties | $ | 4,681,860 | $ | 1,089,053 | $ | 5,770,913 | |||||||||||||||||||||
Unevaluated properties | 90,035 | 217,232 | 307,267 | ||||||||||||||||||||||||
Accumulated DD&A | (4,233,391 | ) | (1,063,829 | ) | (5,297,220 | ) | |||||||||||||||||||||
Net capitalized costs | $ | 538,504 | $ | 242,456 | $ | 780,960 | |||||||||||||||||||||
2011 | |||||||||||||||||||||||||||
Proved properties | $ | 4,380,745 | $ | 928,585 | $ | 5,309,330 | |||||||||||||||||||||
Unevaluated properties | 252,737 | 180,604 | 433,341 | ||||||||||||||||||||||||
Accumulated DD&A | (1,965,258 | ) | (550,937 | ) | (2,516,195 | ) | |||||||||||||||||||||
Net capitalized costs | $ | 2,668,224 | $ | 558,252 | $ | 3,226,476 | |||||||||||||||||||||
Our consolidated capital costs incurred for acquisition, exploration and development activities during each of the three years in the period ended December 31, 2013, were as follows: | |||||||||||||||||||||||||||
U.S. | Canada | Consolidated | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||
Proved acreage | $ | — | $ | — | $ | — | |||||||||||||||||||||
Unproved acreage | 15,843 | 6,305 | 22,148 | ||||||||||||||||||||||||
Development costs | 49,299 | 17,422 | 66,721 | ||||||||||||||||||||||||
Exploration costs | — | — | — | ||||||||||||||||||||||||
Total | $ | 65,142 | $ | 23,727 | $ | 88,869 | |||||||||||||||||||||
2012 | |||||||||||||||||||||||||||
Proved acreage | $ | — | $ | — | $ | — | |||||||||||||||||||||
Unproved acreage | 23,711 | 5,612 | 29,323 | ||||||||||||||||||||||||
Development costs | 131,926 | 178,808 | 310,734 | ||||||||||||||||||||||||
Exploration costs | 35,244 | 8,304 | 43,548 | ||||||||||||||||||||||||
Total | $ | 190,881 | $ | 192,724 | $ | 383,605 | |||||||||||||||||||||
2011 | |||||||||||||||||||||||||||
Proved acreage | $ | — | $ | — | $ | — | |||||||||||||||||||||
Unproved acreage | 145,099 | — | 145,099 | ||||||||||||||||||||||||
Development costs | 304,373 | 90,361 | 394,734 | ||||||||||||||||||||||||
Exploration costs | 37,673 | 41,338 | 79,011 | ||||||||||||||||||||||||
Total | $ | 487,145 | $ | 131,699 | $ | 618,844 | |||||||||||||||||||||
Consolidated results of operations, without giving consideration to any tax valuation allowance, from our producing activities for each of the three years ended December 31, 2013, are set forth below: | |||||||||||||||||||||||||||
U.S. | Canada | Consolidated | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||
Natural gas, NGL and oil revenue | $ | 331,964 | $ | 131,527 | $ | 463,491 | |||||||||||||||||||||
Operating expense | 167,425 | 80,475 | 247,900 | ||||||||||||||||||||||||
Depletion expense | 34,995 | 5,362 | 40,357 | ||||||||||||||||||||||||
129,544 | 45,690 | 175,234 | |||||||||||||||||||||||||
Income tax expense | 45,340 | 11,514 | 56,854 | ||||||||||||||||||||||||
Results from producing activities | $ | 84,204 | $ | 34,176 | $ | 118,380 | |||||||||||||||||||||
2012 | |||||||||||||||||||||||||||
Natural gas, NGL and oil revenue | $ | 538,902 | $ | 92,045 | $ | 630,947 | |||||||||||||||||||||
Operating expense | 226,542 | 60,501 | 287,043 | ||||||||||||||||||||||||
Depletion expense | 116,005 | 24,897 | 140,902 | ||||||||||||||||||||||||
Impairment expense | 2,152,128 | 465,935 | 2,618,063 | ||||||||||||||||||||||||
(1,955,773 | ) | (459,288 | ) | (2,415,061 | ) | ||||||||||||||||||||||
Income tax benefit | (684,521 | ) | (114,822 | ) | (799,343 | ) | |||||||||||||||||||||
Results from producing activities | $ | (1,271,252 | ) | $ | (344,466 | ) | $ | (1,615,718 | ) | ||||||||||||||||||
2011 | |||||||||||||||||||||||||||
Natural gas, NGL and oil revenue | $ | 673,041 | $ | 127,502 | $ | 800,543 | |||||||||||||||||||||
Operating expense | 267,890 | 54,770 | 322,660 | ||||||||||||||||||||||||
Depletion expense | 164,493 | 38,228 | 202,721 | ||||||||||||||||||||||||
Impairment expense | — | 49,063 | 49,063 | ||||||||||||||||||||||||
240,658 | (14,559 | ) | 226,099 | ||||||||||||||||||||||||
Income tax expense (benefit) | 84,230 | (4,222 | ) | 80,008 | |||||||||||||||||||||||
Results from producing activities | $ | 156,428 | $ | (10,337 | ) | $ | 146,091 | ||||||||||||||||||||
The Standardized Measure of Discounted Future Net Cash Flows and Changes Therein Relating to Proved Oil and Natural Gas Reserves (“Standardized Measure”) does not purport to present the fair market value of our natural gas and oil properties. An estimate of such value should consider, among other factors, anticipated future prices of natural gas and oil, the probability of recoveries in excess of existing proved reserves, the value of probable reserves and acreage prospects, estimated future capital and operating costs and perhaps different discount rates. It should be noted that estimates of reserve quantities, especially from new discoveries, are inherently imprecise and subject to substantial revision. | |||||||||||||||||||||||||||
Under the Standardized Measure, future cash inflows for 2013 were estimated by applying the unweighted average of the preceding 12-month first-day-of-the-month prices, adjusted for contracts with price floors but excluding hedges, and unescalated year-end costs to the estimated future production of the year-end reserves. These prices have varied widely and have a significant impact on both the quantities and value of the proved reserves as reduced prices cause wells to reach the end of their economic life much sooner and also make certain proved undeveloped locations uneconomical, both of which reduce reserves. The following representative prices were used in the Standardized Measure and were adjusted by field for appropriate regional differentials: | |||||||||||||||||||||||||||
At December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||
Natural gas – Henry Hub, per MMBtu | $ | 3.67 | $ | 2.76 | $ | 4.12 | |||||||||||||||||||||
Natural gas – AECO, per MMBtu | 2.9 | 2.35 | 3.65 | ||||||||||||||||||||||||
Oil – WTI Cushing, per Bbl | 97.18 | 94.71 | 95.71 | ||||||||||||||||||||||||
The reference price used for our NGLs was based on WTI Cushing, adjusted for local differentials, gravity and BTU. | |||||||||||||||||||||||||||
Future cash inflows were reduced by estimated future production and development costs based on year-end costs to determine pre-tax cash inflows. Future income taxes were computed by applying the statutory tax rate to the excess of pre-tax cash inflows over our tax basis in the associated proved natural gas and oil properties. Tax credits and net operating loss carry-forwards were also considered in the future income tax calculation. Future net cash inflows after income taxes were discounted using a 10% annual discount rate to arrive at the Standardized Measure. | |||||||||||||||||||||||||||
The Standardized Measure at December 31, 2013, 2012 and 2011 was as follows: | |||||||||||||||||||||||||||
U.S. | Canada | Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||
Future revenue | $ | 3,825,944 | $ | 656,984 | $ | 4,482,928 | |||||||||||||||||||||
Future production costs | (2,022,977 | ) | (385,776 | ) | (2,408,753 | ) | |||||||||||||||||||||
Future development costs | (212,280 | ) | (79,525 | ) | (291,805 | ) | |||||||||||||||||||||
Future income taxes | (134,418 | ) | 59,294 | (75,124 | ) | ||||||||||||||||||||||
Future net cash flows | 1,456,269 | 250,977 | 1,707,246 | ||||||||||||||||||||||||
10% discount | (801,116 | ) | (83,082 | ) | (884,198 | ) | |||||||||||||||||||||
Standardized measure of discounted future cash flows relating to proved reserves | $ | 655,153 | $ | 167,895 | $ | 823,048 | |||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||
Future revenue | $ | 3,980,643 | $ | 472,539 | $ | 4,453,182 | |||||||||||||||||||||
Future production costs | (2,552,863 | ) | (324,424 | ) | (2,877,287 | ) | |||||||||||||||||||||
Future development costs | (239,532 | ) | (56,354 | ) | (295,886 | ) | |||||||||||||||||||||
Future income taxes | 81,847 | 80,206 | 162,053 | ||||||||||||||||||||||||
Future net cash flows | 1,270,095 | 171,967 | 1,442,062 | ||||||||||||||||||||||||
10% discount | (667,738 | ) | (59,204 | ) | (726,942 | ) | |||||||||||||||||||||
Standardized measure of discounted future cash flows relating to proved reserves | $ | 602,357 | $ | 112,763 | $ | 715,120 | |||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||
Future revenue | $ | 11,647,002 | $ | 1,055,711 | $ | 12,702,713 | |||||||||||||||||||||
Future production costs | (5,496,246 | ) | (463,852 | ) | (5,960,098 | ) | |||||||||||||||||||||
Future development costs | (1,125,641 | ) | (146,658 | ) | (1,272,299 | ) | |||||||||||||||||||||
Future income taxes | (1,229,968 | ) | (44,183 | ) | (1,274,151 | ) | |||||||||||||||||||||
Future net cash flows | 3,795,147 | 401,018 | 4,196,165 | ||||||||||||||||||||||||
10% discount | (2,286,449 | ) | (174,863 | ) | (2,461,312 | ) | |||||||||||||||||||||
Standardized measure of discounted future cash flows relating to proved reserves | $ | 1,508,698 | $ | 226,155 | $ | 1,734,853 | |||||||||||||||||||||
The standardized measure was calculated without giving consideration to any tax valuation allowance. | |||||||||||||||||||||||||||
The primary changes in the Standardized Measure for 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
Sales of oil and gas net of production costs | $ | (147,402 | ) | $ | (149,326 | ) | $ | (477,883 | ) | ||||||||||||||||||
Net changes in economic factors | 326,698 | (1,362,793 | ) | 32,175 | |||||||||||||||||||||||
Extensions and discoveries | 43,328 | 27,003 | 251,635 | ||||||||||||||||||||||||
Development costs incurred | 2,302 | 172,563 | 233,294 | ||||||||||||||||||||||||
Changes in estimated future development costs | 20,766 | 620,127 | (60,642 | ) | |||||||||||||||||||||||
Purchase and sale of reserves, net | (237,409 | ) | (20,529 | ) | — | ||||||||||||||||||||||
Revision of estimates | 121,916 | (1,219,609 | ) | (224,784 | ) | ||||||||||||||||||||||
Accretion of discount | 50,821 | 196,315 | 197,902 | ||||||||||||||||||||||||
Net change in income taxes | (86,667 | ) | 560,485 | 1,404 | |||||||||||||||||||||||
Change in timing and other differences | 13,575 | 156,031 | (4,626 | ) | |||||||||||||||||||||||
Net increase (decrease) | $ | 107,928 | $ | (1,019,733 | ) | $ | (51,525 | ) | |||||||||||||||||||
Significant_Accounting_Policie1
Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis Of Presentation | ' |
Basis of Presentation | |
Our consolidated financial statements include our accounts and those of all of our majority-owned subsidiaries, companies over which we exercise control through majority voting rights or other means of control and variable interest entities of which we are the primary beneficiary. We eliminate all inter-company balances and transactions in preparing consolidated financial statements. We account for our ownership in unincorporated partnerships and companies, including our prior interest in BBEP, under the equity method when we have significant influence over those entities, but because of terms of the ownership agreements, we do not meet the criteria for consolidation of the entities. | |
Use Of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires our management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during each reporting period. Management believes its estimates and assumptions are reasonable, but such estimates and assumptions are subject to a number of risks and uncertainties, which may cause actual results to differ materially from management’s estimates. | |
Significant estimates underlying these financial statements include the estimated quantities of our proved reserves (including the associated future net cash flows from those proved reserves and costs to develop those reserves) used to compute depletion expense, the full cost ceiling limitation and estimates of current revenue. Other estimates that require assumptions concerning future events and substantial judgment include the estimated fair value of derivatives, asset retirement obligations and stock-based compensation. Income taxes also involve the use of considerable judgment in the estimation and evaluation of deferred income tax assets and our ability to recover operating loss carry-forwards and assessment of uncertain tax positions. | |
Cash Equivalents | ' |
Cash Equivalents | |
Cash equivalents consist of time deposits and liquid debt investments with original maturities of three months or less at the time of purchase. | |
Accounts Receivable | ' |
Accounts Receivable | |
We sell our production to various purchasers, each of which is reviewed as to credit worthiness prior to the extension of credit and on a regular basis thereafter. Although we rarely require collateral, we require appropriate credit ratings and, in some instances, obtain parental guarantees. Receivables are generally collected within 30 to 60 days. When collections of specific amounts due are no longer reasonably assured, we establish an allowance for doubtful accounts though we have not had a significant instance of nonpayment. During 2013, one purchaser individually accounted for 18% of cash collected for our production revenue. During 2012, two purchasers individually accounted for 21% and 15% of cash collected for our production revenue. During 2011, two purchasers accounted for 15% and 11% of cash collected for our production revenue. | |
Hedging And Derivatives | ' |
Hedging and Derivatives | |
We enter into derivatives to mitigate risk associated with the prices received from our natural gas, NGL and oil production. We may also utilize derivatives to hedge the risk associated with interest rates on our outstanding debt. All derivatives are recognized as either an asset or liability on the balance sheet measured at their fair value determined by reference to published future market prices and interest rates. | |
Effective December 31, 2012, we discontinued the use of hedge accounting on all existing hedge contracts. Net deferred hedge gains deferred in AOCI associated with these contracts as of December 31, 2012 are reclassified to earnings during the same periods in which the hedged transactions are recognized in our earnings. Since then, we recognize changes in the fair values of derivative contracts as gains or losses in the earnings of the periods in which they occur. | |
We enter into derivatives with counterparties who are our lenders at the inception of the derivative. Our credit facility provides for collateralization of amounts outstanding from our derivatives in addition to amounts outstanding under the facility. Additionally, default on any of our obligations under derivatives with counterparty lenders could result in acceleration of the amounts outstanding under the credit facility. Our credit facility and our internal credit policies require that any counterparties, including facility lenders, with whom we enter into commodity derivatives have credit ratings that meet or exceed BBB- or Baa3 from Standard and Poor’s or Moody’s, respectively. The fair value for each derivative takes credit risk into consideration, whether it be our counterparties’ or our own. Derivatives are classified as current or non-current derivative assets and liabilities, based on the expected timing of settlements. | |
Investments In Equity Affiliates | ' |
Investments in Equity Affiliates | |
During December 2011, we liquidated our investment in BBEP which we had accounted for using the equity method. Prior to this liquidation, we reviewed our investment for impairment whenever events or circumstances indicated that the investment’s carrying amount may not be recoverable. We recorded our portion of BBEP’s earnings during the quarter in which its financial statements became publicly available. Consequently, our 2011 annual results of operations include BBEP’s earnings for the 12 months ended September 30, 2011. Note 7 contains more information on our BBEP investment. | |
Property, Plant and Equipment | ' |
Property, Plant, and Equipment | |
We follow the full cost method in accounting for our oil and gas properties. Under the full cost method, all costs associated with the acquisition, exploration and development of oil and gas properties are capitalized and accumulated in separate Canadian and U.S. cost centers. This includes any internal costs that are directly related to development and exploration activities, but does not include any costs related to production, general corporate overhead or similar activities. Proceeds received from disposals reduce the accumulated cost except when the sale represents a significant disposal of reserves, in which case a gain or loss is calculated and recognized. The sum of net capitalized costs and estimated future development and dismantlement costs for each cost center is depleted on the equivalent unit-of-production method, based on proved reserves. We may, at our option, exclude costs associated with unevaluated properties from amounts subject to depletion. | |
Under the full cost method, net capitalized costs are limited to the lower of unamortized cost reduced by the related net deferred tax liability and asset retirement obligations (collectively, “the cost center ceiling”). The cost center ceiling equals the sum of (1) estimated future net revenue from proved reserves, discounted at 10% per annum, including the effects of derivatives that are accounted for as hedges of our oil and gas revenue, (2) the cost of properties not being amortized, (3) the lower of cost or market value of unproved properties included in the cost being amortized, less (4) income tax effects related to differences between the book and tax basis of the natural gas and oil properties. If the net book value reduced by the related net deferred income tax liability, unless in a valuation allowance, and asset retirement obligations exceeds the cost center ceiling limitation, a non-cash impairment charge is required. Note 8 to these financial statements contains further discussion of the ceiling test. | |
Other properties and equipment are stated at original cost and depreciated using the straight-line method based on estimated useful lives ranging from five to forty years. If indicators of impairment are identified, an undiscounted cash flow analysis is performed to determine if an impairment exists. If the undiscounted cash flow analysis indicates an impairment, a discounted cash flow analysis is performed and the asset is reduced to the indicated value. | |
Inventory | ' |
Inventory | |
Inventories are primarily comprised of materials and parts including oil and gas drilling or repair items such as tubing, casing, chemicals, operating supplies and ordinary maintenance materials and parts. The materials, parts and supplies inventory is primarily acquired for use in future drilling operations or repair operations and is carried at the lower of cost or fair value, on a first-in, first-out cost basis. Fair value represents net realizable value, which is the amount that we are allowed to bill to the joint accounts under joint operating agreements to which we are a party. Impairments for materials and supplies inventories are recorded as lease operating expense in the accompanying consolidated statements of operations. | |
Asset Retirement Obligations | ' |
Asset Retirement Obligations | |
We record the fair value of the liability for asset retirement obligations in the period in which it is legally or contractually incurred. Upon initial recognition of the asset retirement liability, an asset retirement cost is capitalized by increasing the carrying amount of the asset by the same amount as the liability. In periods subsequent to initial measurement, the asset retirement cost is recognized as expense through depletion or depreciation over the asset’s useful life. Changes in the liability for the asset retirement obligations are recognized for (1) the passage of time and (2) revisions to either the timing or the amount of estimated cash flows. Accretion expense is recognized for the impacts of increasing the discounted liability to its estimated settlement value. | |
Revenue Recognition | ' |
Revenue Recognition | |
Revenue is recognized when title to the products transfers to the purchaser. We use the “sales method” to account for our production revenue, whereby we recognize revenue on all production sold to our purchasers, regardless of whether the sales are proportionate to our ownership in the property. A receivable or liability is recognized only to the extent that we have an imbalance on a specific property greater than the expected remaining proved reserves. As of December 31, 2013 and 2012, our aggregate production imbalances were not material. | |
Environmental Compliance and Remediation | ' |
Environmental Compliance and Remediation | |
Environmental compliance costs, including ongoing maintenance and monitoring, are expensed as incurred. Those environmental remediation costs which improve a property are capitalized. | |
Debt | ' |
Debt | |
We record all debt instruments at face value. When an issuance of debt is made at other than par, a discount or premium is separately recorded. The discount or premium is amortized over the life of the debt using the effective interest method. | |
Income Taxes | ' |
Income Taxes | |
Deferred income taxes are established for all temporary differences between the book and the tax basis of assets and liabilities. In addition, deferred tax balances must reflect tax rates expected to be in effect in years in which the temporary differences reverse. Canadian taxes are calculated at rates expected to be in effect in Canada. U.S. deferred tax liabilities are not recognized on profits that are expected to be permanently reinvested in Canada and thus not considered available for distribution to the parent company. It is not practicable to determine our unrecognized deferred tax liability for temporary differences related to investments in foreign subsidiaries that are essentially permanent in duration. Net operating loss carry-forwards and other deferred tax assets are reviewed annually for recoverability, and, if necessary, are recorded net of a valuation allowance. Note 13 contains additional discussion regarding income taxes. | |
Stock-Based Compensation | ' |
Stock-based Compensation | |
We measure and recognize compensation expense for all share-based payment awards made to employees and directors based on their estimated fair value at the time the awards are granted. Our board of directors may elect to issue awards payable in cash. For awards with service requirements, we recognize the expense associated with the awards over the vesting period. The liability for fair value of cash awards is reassessed at every balance sheet date, such that the vested portion of the liability is adjusted to reflect revised fair value through compensation expense. For awards that vest only upon achievement of performance criteria, recognition is recorded only when achievement of the performance criteria is considered probable. | |
Disclosure of Fair Value of Financial Instruments | ' |
Disclosure of Fair Value of Financial Instruments | |
Our financial instruments include cash, commercial paper, time deposits, accounts receivable, notes payable, accounts payable, long-term debt and financial derivatives. The fair value of long-term debt is estimated as the present value of future cash flows discounted at rates consistent with comparable maturities and includes consideration of credit risk. The carrying amounts reflected in the balance sheet for financial assets classified as current assets and the carrying amounts for financial liabilities classified as current liabilities approximate fair value. | |
Foreign Currency Translation | ' |
Foreign Currency Translation | |
Our Canadian subsidiary maintains its general ledger using the Canadian dollar. All balance sheet accounts of our Canadian operations are translated into U.S. dollars at the period end exchange rate and statement of income items are translated at the weighted average exchange rate for the period. The resulting translation adjustments are made directly to a component of accumulated other comprehensive income within stockholders’ equity. Gains and losses from foreign currency transactions are included in the consolidated results of operations. | |
Variable Interest Entities | ' |
Variable Interest Entities | |
An entity is a variable interest entity (VIE) if it meets the following criteria: (1) the entity has equity that is insufficient to permit the entity to finance its activities without additional subordinated financial support from other parties, or (2) the entity has equity investors that cannot make significant decisions about the entity’s operations or that do not absorb their proportionate share of the expected losses or receive the expected returns of the entity. | |
VIEs require assessment of who the primary beneficiary is and whether the primary beneficiary should consolidate the VIE. The primary beneficiary is identified as the variable interest holder that has both the power to direct the activities of the variable interest entity that most significantly impacts the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the variable interest entity. Application of the VIE consolidation requirements may require the exercise of significant judgment by management. | |
In 2011, we began to include the financial position of Fortune Creek and the results of operations were included beginning with the period ended December 31, 2012 in our consolidated financial statements. The results from operations of Fortune Creek for 2011 were immaterial. Note 15 contains additional discussion regarding Fortune Creek. | |
Earnings per Share | 'Earnings per ShareWe report basic earnings per common share, which excludes the effect of potentially dilutive securities, and diluted earnings per common share, which includes the effect of all potentially dilutive securities unless their impact is antidilutive. Note 17 includes the calculation of earnings per share. |
Derivatives_And_Fair_Value_Mea1
Derivatives And Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Credit Risk Derivatives, at Fair Value, Net [Abstract] | ' | ||||||||||||||||
Estimated Fair Value Of Derivative Instruments Under Input Levels | ' | ||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||
As of December 31, | As of December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||
Level 2 inputs | $ | 107,395 | $ | 207,042 | $ | 3,448 | $ | 959 | |||||||||
Level 3 inputs | 23,485 | 11,595 | — | 16,526 | |||||||||||||
Total | $ | 130,880 | $ | 218,637 | $ | 3,448 | $ | 17,485 | |||||||||
Changes In Level 3 Fair Values | ' | ||||||||||||||||
As of December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
(In thousands) | |||||||||||||||||
Balance at beginning of period | $ | (4,931 | ) | $ | 150,989 | ||||||||||||
Total gains (losses) for the period: | |||||||||||||||||
Unrealized gain on derivatives | 40,398 | 19,451 | |||||||||||||||
Transfers out of Level 3 | — | (180,732 | ) | ||||||||||||||
Settlements in production revenue | — | (3,738 | ) | ||||||||||||||
Settlements in net derivative losses | (11,982 | ) | (25,203 | ) | |||||||||||||
Unrealized gains reported in OCI | — | 34,302 | |||||||||||||||
Balance at end of period | $ | 23,485 | $ | (4,931 | ) | ||||||||||||
Total gains included in net derivative gains attributable to the change in unrealized gains related to assets still held at the reporting date | $ | 41,909 | $ | 19,451 | |||||||||||||
Price Collars And Swaps For Anticipated Natural Gas Production | ' | ||||||||||||||||
Production | Daily Production | ||||||||||||||||
Year | Volume | ||||||||||||||||
Natural Gas | NGL | Natural Gas Basis Swaps | |||||||||||||||
MMcfd | MBbld | MMcfd | |||||||||||||||
2014 (1) | 170 | 4 | 40 | ||||||||||||||
2015 | 150 | — | — | ||||||||||||||
2016-2021 | 40 | — | — | ||||||||||||||
-1 | Our 2014 NGL derivatives end in September. Our natural gas derivatives and AECO to NYMEX natural gas basis swaps are in place for the whole of 2014. | ||||||||||||||||
Net Deferred Hedge Gain in AOCI to be Released into Earnings in a Future Period [Table Text Block] | ' | ||||||||||||||||
(In thousands) | |||||||||||||||||
2014 | $ | 37,084 | |||||||||||||||
2015 | 33,191 | ||||||||||||||||
2016 | 13,476 | ||||||||||||||||
2017 | 12,531 | ||||||||||||||||
2018 and thereafter | $ | 41,443 | |||||||||||||||
$ | 137,725 | ||||||||||||||||
Reduction Of Interest Expense Over The Life Of The Debt Instruments | ' | ||||||||||||||||
(In thousands) | |||||||||||||||||
2014 | 2,039 | ||||||||||||||||
2015 | 2,194 | ||||||||||||||||
2016 | 569 | ||||||||||||||||
$ | 4,802 | ||||||||||||||||
Estimated Fair Value Of Derivative Instruments | ' | ||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||
As of December 31, | As of December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||
Derivatives not designated as hedges: | |||||||||||||||||
Commodity contracts reported in: | |||||||||||||||||
Current derivative assets | $ | 60,063 | $ | 113,367 | $ | 2,540 | $ | — | |||||||||
Noncurrent derivative assets | 105,315 | 107,542 | 31,958 | 2,272 | |||||||||||||
Current derivative liabilities | — | — | 3,125 | — | |||||||||||||
Noncurrent derivative liabilities | — | 92 | 323 | 17,577 | |||||||||||||
Total derivatives not designated as hedges | $ | 165,378 | $ | 221,001 | $ | 37,946 | $ | 19,849 | |||||||||
Carrying Value Of Derivatives | ' | ||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||
Commodity Hedges | |||||||||||||||||
(In thousands) | |||||||||||||||||
Derivative fair value at beginning of period | $ | 342,799 | |||||||||||||||
Settlements in production revenue | (176,084 | ) | |||||||||||||||
Settlements in net derivative gains | (3,820 | ) | |||||||||||||||
Ineffectiveness reported in net derivative gains | 1,281 | ||||||||||||||||
Unrealized gains reported in OCI | 107,112 | ||||||||||||||||
Derecognition of hedge | (271,288 | ) | |||||||||||||||
Derivative fair value at end of period | $ | — | |||||||||||||||
Held-to-maturity Securities | ' | ||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Market Value | ||||||||||||||
(In thousands) | |||||||||||||||||
Marketable securities (held-to-maturity) | |||||||||||||||||
Time deposits | $ | 29,419 | $ | — | $ | (22 | ) | $ | 29,397 | ||||||||
Commercial paper | 136,924 | 27 | (25 | ) | 136,926 | ||||||||||||
Marketable securities | $ | 166,343 | $ | 27 | $ | (47 | ) | $ | 166,323 | ||||||||
Accounts_Receivable_Tables
Accounts Receivable (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounts Receivable, Net [Abstract] | ' | |||||||
Schedule Of Accounts Receivable | ' | |||||||
As of December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Accrued production revenue | $ | 34,785 | $ | 49,762 | ||||
Joint interest billings | 15,630 | 10,957 | ||||||
Income taxes | 7,931 | — | ||||||
Canadian value added taxes | 60 | 172 | ||||||
NGL hedge settlement accrual | — | 3,149 | ||||||
Other | 328 | 160 | ||||||
Allowance for doubtful accounts | (89 | ) | (51 | ) | ||||
$ | 58,645 | $ | 64,149 | |||||
Other_Current_Assets_Tables
Other Current Assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Current Assets [Abstract] | ' | |||||||
Other Current Assets | ' | |||||||
As of December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Inventories | $ | 18,334 | $ | 21,454 | ||||
Deposits | 1,044 | 513 | ||||||
Other prepaid expense | 2,968 | 3,079 | ||||||
$ | 22,346 | $ | 25,046 | |||||
Investment_In_BBEP_Tables
Investment In BBEP (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Equity Method Investment, Summarized Financial Information [Abstract] | ' | |||
Schedule of Operations Statement [Table Text Block] | ' | |||
For the Twelve | ||||
Months Ended | ||||
September 30, 2011 | ||||
(in thousands) | ||||
Revenue (1) | $ | 425,386 | ||
Operating expense | 313,388 | |||
Operating income | 111,998 | |||
Interest and other (2) | 40,759 | |||
Income tax (benefit) expense | 1,070 | |||
Noncontrolling interests | 183 | |||
Net income available to BBEP | $ | 69,986 | ||
Net income available to common unitholders | $ | 69,986 | ||
(1) | For the twelve months ended September 30, 2011, unrealized gains of $24.0 million on commodity derivatives were recognized. | |||
(2) | The twelve months ended September 30, 2011 included $3.3 million for unrealized gains on interest rate swaps. |
Property_Plant_And_Equipment_T
Property, Plant And Equipment (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Schedule Of Property, Plant And Equipment | ' | |||||||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||
Oil and gas properties | ||||||||||||||||||||||||||||||||||||||||
Subject to depletion | $ | 5,687,557 | $ | 5,770,913 | ||||||||||||||||||||||||||||||||||||
Unevaluated costs | 221,605 | 307,267 | ||||||||||||||||||||||||||||||||||||||
Accumulated depletion | (5,268,719 | ) | (5,297,220 | ) | ||||||||||||||||||||||||||||||||||||
Net oil and gas properties | 640,443 | 780,960 | ||||||||||||||||||||||||||||||||||||||
Other property and equipment | ||||||||||||||||||||||||||||||||||||||||
Pipelines and processing facilities | 347,093 | 375,248 | ||||||||||||||||||||||||||||||||||||||
General properties | 72,125 | 75,147 | ||||||||||||||||||||||||||||||||||||||
Accumulated depreciation | (198,856 | ) | (202,297 | ) | ||||||||||||||||||||||||||||||||||||
Net other property and equipment | 220,362 | 248,098 | ||||||||||||||||||||||||||||||||||||||
Property, plant and equipment, net of accumulated depletion and depreciation | $ | 860,805 | $ | 1,029,058 | ||||||||||||||||||||||||||||||||||||
Schedule Of Charges For Impairment | ' | |||||||||||||||||||||||||||||||||||||||
Pre-tax Charges for Impairment | ||||||||||||||||||||||||||||||||||||||||
Segment | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||||||||||
U.S. | ||||||||||||||||||||||||||||||||||||||||
Oil and gas properties | Exploration and production | $ | — | $ | 2,152,128 | $ | — | |||||||||||||||||||||||||||||||||
Other property and equipment | Midstream | 54 | 7,328 | 57,996 | ||||||||||||||||||||||||||||||||||||
Other property and equipment | Exploration and production | 1,809 | 537 | — | ||||||||||||||||||||||||||||||||||||
Canada | ||||||||||||||||||||||||||||||||||||||||
Oil and gas properties | Exploration and production | — | 465,935 | 49,063 | ||||||||||||||||||||||||||||||||||||
$ | 1,863 | $ | 2,625,928 | $ | 107,059 | |||||||||||||||||||||||||||||||||||
Schedule Of Unevaluated Natural Gas And Oil Properties Not Subject To Depletion | ' | |||||||||||||||||||||||||||||||||||||||
December 31, 2013 Costs Incurred During | December 31, 2012 Costs Incurred During | |||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | Prior | Total | 2012 | 2011 | 2010 | Prior | Total | |||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||
U.S. | ||||||||||||||||||||||||||||||||||||||||
Acquisition costs | $ | — | $ | 3,013 | $ | 13,484 | $ | — | $ | 16,497 | $ | 6,844 | $ | 42,339 | $ | 1,447 | $ | 32,429 | $ | 83,059 | ||||||||||||||||||||
Exploration costs | 14 | 364 | — | — | 378 | 2,676 | 207 | — | — | 2,883 | ||||||||||||||||||||||||||||||
Capitalized interest | 1,093 | 1,374 | — | — | 2,467 | 4,093 | — | — | — | 4,093 | ||||||||||||||||||||||||||||||
Total U.S. | $ | 1,107 | $ | 4,751 | $ | 13,484 | $ | — | $ | 19,342 | $ | 13,613 | $ | 42,546 | $ | 1,447 | $ | 32,429 | $ | 90,035 | ||||||||||||||||||||
Canada | ||||||||||||||||||||||||||||||||||||||||
Acquisition costs | $ | — | $ | 2,956 | $ | 1,300 | $ | 68,586 | $ | 72,842 | $ | 333 | $ | — | $ | 643 | $ | 80,488 | $ | 81,464 | ||||||||||||||||||||
Exploration costs | $ | 7,044 | $ | 31,746 | $ | 41,092 | $ | 30,413 | $ | 110,295 | $ | 36,356 | $ | 44,837 | $ | 18,500 | $ | 20,171 | $ | 119,864 | ||||||||||||||||||||
Capitalized interest | $ | 3,947 | $ | 2,724 | $ | 3,522 | $ | 8,933 | $ | 19,126 | $ | 2,796 | $ | 3,614 | $ | 2,830 | $ | 6,664 | $ | 15,904 | ||||||||||||||||||||
Total Canada | $ | 10,991 | $ | 37,426 | $ | 45,914 | $ | 107,932 | $ | 202,263 | $ | 39,485 | $ | 48,451 | $ | 21,973 | $ | 107,323 | $ | 217,232 | ||||||||||||||||||||
Total | $ | 12,098 | $ | 42,177 | $ | 59,398 | $ | 107,932 | $ | 221,605 | $ | 53,098 | $ | 90,997 | $ | 23,420 | $ | 139,752 | $ | 307,267 | ||||||||||||||||||||
Schedule Of Unevaluated Property Costs | ' | |||||||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||
Barnett Shale | $ | — | $ | 40,716 | ||||||||||||||||||||||||||||||||||||
West Texas | 19,343 | 49,318 | ||||||||||||||||||||||||||||||||||||||
Horn River Basin | 202,262 | 217,233 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 221,605 | $ | 307,267 | ||||||||||||||||||||||||||||||||||||
Other_Assets_Tables
Other Assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Assets, Noncurrent Disclosure [Abstract] | ' | |||||||
Schedule Of Other Assets | ' | |||||||
As of December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Deferred financing costs | $ | 84,951 | $ | 59,059 | ||||
Less accumulated amortization | (50,171 | ) | (27,335 | ) | ||||
Net deferred financing costs | 34,780 | 31,724 | ||||||
Governmental and notes receivable | 6,464 | 7,385 | ||||||
Other | 360 | 838 | ||||||
$ | 41,604 | $ | 39,947 | |||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities [Abstract] | ' | |||||||
Schedule Of Accrued Liabilities | ' | |||||||
As of December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Interest payable | $ | 38,260 | $ | 67,116 | ||||
Accrued operating expense | 37,747 | 38,733 | ||||||
Prepayments from partners | 425 | — | ||||||
Revenue payable | 22,589 | 21,013 | ||||||
Accrued state income and franchise taxes | 1,080 | 1,183 | ||||||
Accrued production and property taxes | 870 | 609 | ||||||
Environmental liabilities | 36 | 122 | ||||||
Accrued product purchases | 270 | 336 | ||||||
Current asset retirement obligations | 433 | 577 | ||||||
Other | 1,140 | 971 | ||||||
$ | 102,850 | $ | 130,660 | |||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | |||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ' | ||||||||||||||||||
As of December 31, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Combined Credit Agreements | $ | 211,200 | $ | 388,150 | ||||||||||||||||
Second Lien Term Loan, net of unamortized discount of $17,428 | 607,572 | — | ||||||||||||||||||
Second Lien Notes due 2019, net of unamortized discount of $5,577 | 194,423 | — | ||||||||||||||||||
Senior notes due 2015, net of unamortized discount of $30 and $2,149 | 10,472 | 435,851 | ||||||||||||||||||
Senior notes due 2016, net of unamortized discount of $105 and $10,825 | 8,044 | 579,795 | ||||||||||||||||||
Senior notes due 2019, net of unamortized discount of $4,757 and $5,378 | 293,243 | 292,622 | ||||||||||||||||||
Senior notes due 2021, net of unamortized discount of $15,810 | 309,190 | — | ||||||||||||||||||
Senior subordinated notes due 2016 | 350,000 | 350,000 | ||||||||||||||||||
Total debt | 1,984,144 | 2,046,418 | ||||||||||||||||||
Unamortized deferred gain—terminated interest rate swaps | 4,802 | 16,788 | ||||||||||||||||||
Long-term debt | $ | 1,988,946 | $ | 2,063,206 | ||||||||||||||||
Schedule of Maturities of Long-term Debt | ' | ' | ||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | |||||||||||||||
(in thousands) | ||||||||||||||||||||
Combined Credit Agreements | — | — | 211,200 | — | — | — | ||||||||||||||
Second Lien Term Loan | — | — | — | — | — | 625,000 | ||||||||||||||
Second Lien Notes due 2019 | — | — | — | — | — | 200,000 | ||||||||||||||
Senior notes due 2015 | — | 10,502 | — | — | — | — | ||||||||||||||
Senior notes due 2016 | — | — | 8,149 | — | — | — | ||||||||||||||
Senior notes due 2019 | — | — | — | — | — | 298,000 | ||||||||||||||
Senior notes due 2021 | — | — | — | — | — | 325,000 | ||||||||||||||
Senior subordinated notes due 2016 | — | — | 350,000 | — | — | — | ||||||||||||||
Total Indebtedness | — | 10,502 | 569,349 | — | — | 1,448,000 | ||||||||||||||
Schedule of Debt | ' | ' | ||||||||||||||||||
-1 | Borrowings under the Amended and Restated U.S. Credit Facility, Second Lien Term Loan and Second Lien Notes due 2019 are guaranteed by certain of Quicksilver’s domestic subsidiaries and are secured (on a first priority basis with respect to the Amended and Restated U.S. Credit Facility and on a second priority basis with respect to the Second Lien Term Loan and the Second Lien Notes due 2019) by 100% of the equity interests of each of Cowtown Pipeline Management, Inc., Cowtown Pipeline Funding, Inc., Cowtown Gas Processing L.P., Cowtown Pipeline L.P., Barnett Shale Operating LLC, Silver Stream Pipeline Company LLC, QPP Parent LLC and QPP Holdings LLC (collectively, the “Domestic Pledged Equity”), 65% of the equity interests of Quicksilver Resources Canada Inc. (“Quicksilver Canada”) and Quicksilver Production Partners Operating Ltd. (with respect to the Amended and Restated U.S. Credit Facility, on a ratable basis with borrowings under the Amended and Restated Canadian Credit Facility) and the majority of Quicksilver's domestic proved oil and gas properties and related assets, (the “Domestic Pledged Property”). Borrowings under the Amended and Restated Canadian Credit Facility are guaranteed by Quicksilver and certain of its domestic subsidiaries and are secured by the Domestic Pledged Equity, the Domestic Pledged Property, 100% of the equity interests of Quicksilver Canada (65% of which is on a ratable basis with the borrowings under the Amended and Restated U.S. Credit Facility) and any Canadian restricted subsidiaries, under the Amended and Restated Canadian Credit Facility, and 65% of the equity interests of Quicksilver Production Partners Operating Ltd. (which is on a ratable basis with the borrowings under the Amended and Restated U.S. Credit Facility) and the majority of Quicksilver Canada's oil and gas properties and related assets. The other debt presented is based upon structural seniority and priority of payment. | |||||||||||||||||||
Priority on Collateral and Structural Seniority (1) | ||||||||||||||||||||
Highest priority | Lowest priority | -2 | The principal amount for the Combined Credit Agreements represents the global borrowing base as of December 31, 2013. | |||||||||||||||||
First Lien | Second Lien | Senior Unsecured | Senior Subordinated | |||||||||||||||||
Combined Credit | Second Lien Term Loan | Second Lien Notes due 2019 | 2015 | 2016 | 2019 | 2021 | Senior | -3 | The Combined Credit Agreements are required to be repaid 91 days prior to the maturity of the 2015 Senior Notes, the 2016 Senior Notes, the 2016 Senior Subordinated Notes, the Second Lien Term Loan or the Second Lien Notes due 2019, if on the applicable date any amount of such debt remains outstanding. The Second Lien Term Loan and Second Lien Notes due 2019 are required to be repaid (1) 91 days prior to the maturity of the 2019 Senior Notes if more than $100 million of the 2019 Senior Notes remain outstanding and (2) 91 days prior to the maturity of the 2015 Senior Notes, the 2016 Senior Notes or the 2016 Senior Subordinated Notes if on the applicable date the aggregate amount of all such notes remaining outstanding is greater than $100 million. | |||||||||||
Agreements | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Subordinated Notes | |||||||||||||||
Principal amount (2) | $350 million | $625 million | $200 million | $11 million | $8 million | $298 million | $325 million | $350 million | -4 | Represents the weighted average borrowing rate payable to lenders. | ||||||||||
Scheduled maturity date (3) | September 6, 2016 | June 21, 2019 | June 21, 2019 | August 1, 2015 | January 1, 2016 | August 15, 2019 | July 1, 2021 | April 1, 2016 | ||||||||||||
Interest rate on outstanding borrowings at December 31, 2013 (4) | 3.95% | 7.00% | 7.00% | 8.25% | 11.75% | 9.13% | 11.00% | 7.12% | -5 | Amounts outstanding under the Amended and Restated U.S. Credit Facility bear interest, at our election, at (i) adjusted LIBOR (as defined in the Amended and Restated U.S. Credit Facility) plus an applicable margin between 2.75% and 3.75%, (ii) ABR (as defined in the Amended and Restated U.S. Credit Facility), which is the greatest of (a) the prime rate announced by JPMorgan, (b) the federal funds rate plus 0.50% and (c) adjusted LIBOR for an interest period of one month plus 1.00%, plus, in each case under scenario, (ii) an applicable margin between 1.75% and 2.75%. We also pay a per annum fee on the LC Exposure (as defined in the Amended and Restated U.S. Credit Facility) of all letters of credit issued under the Amended and Restated U.S. Credit Facility equal to the applicable margin, with respect to Eurodollar loans, and a commitment fee on the unused availability under the Amended and Restated U.S. Credit Facility of 0.50%. | ||||||||||
Base interest rate | LIBOR, ABR, CDOR | LIBOR floor of 1.25%; ABR floor of 2.25% | LIBOR floor of 1.25% | N/A | N/A | N/A | N/A | N/A | ||||||||||||
options (5)(6) | -6 | Amounts outstanding under the Amended and Restated Canadian Credit Facility bear interest, at our election, at (i) the CDOR Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 2.75% and 3.75%, (ii) the Canadian Prime Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 1.75% and 2.75%, (iii) the U.S. Prime Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 1.75% and 2.75% and (iv) adjusted LIBOR (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 2.75% and 3.75%. We pay a per annum fee on the LC Exposure (as defined in the Amended and Restated Canadian Credit Facility) of all letters of credit issued under the Amended and Restated Canadian Credit Facility equal to the applicable margin, with respect to Eurodollar loans, and a commitment fee on the unused availability under the Amended and Restated Canadian Credit Facility of 0.50%. | ||||||||||||||||||
Financial covenants (7) | - Minimum current ratio of 1.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||
- Minimum EBITDA to cash interest expense ratio of 1.10 | -7 | The information presented in this table is qualified in all respects by reference to the full text of the covenants, provisions and related definitions contained in the documents governing the various components of our debt. | ||||||||||||||||||
- Maximum senior secured debt leverage ratio of 2.0 | ||||||||||||||||||||
Significant restrictive covenants (7) | - Incurrence of debt | - Incurrence of debt | - Incurrence of debt | - Asset sales | - Asset sales | - Incurrence of debt | - Incurrence of debt | - Incurrence of debt | -8 | The estimated fair value is determined using market quotations based on recent trade activity for fixed rate obligations (“Level 2” inputs). Our Second Lien Term Loan and Second Lien Notes due 2019 feature variable interest rates and we estimate their fair value by using market quotations based on recent trade activity (“Level 3” input). We consider our Combined Credit Agreements which have a variable interest rate to have a fair value equal to their carrying value (“Level 1” input). | ||||||||||
- Incurrence of liens | - Incurrence of liens and 1st lien cap | - Incurrence of liens and 1st lien cap | - Incurrence of liens | - Incurrence of liens | - Incurrence of liens | |||||||||||||||
- Payment of dividends | -Payment of dividends | -Payment of dividends | -Payment of dividends | -Payment of dividends | -Payment of dividends | |||||||||||||||
- Equity purchases | - Equity purchases | - Equity purchases | - Equity purchases | - Equity purchases | - Equity purchases | |||||||||||||||
- Asset sales | - Asset sales | - Asset sales | - Asset sales | - Asset sales | - Asset sales | |||||||||||||||
- Affiliate transactions | - Affiliate transactions | - Affiliate transactions | - Affiliate transactions | - Affiliate transactions | - Affiliate transactions | |||||||||||||||
- Limitations on derivatives and investments | ||||||||||||||||||||
Optional redemption (7) | Any time | Any time, subject to re-pricing event | Any time, subject to re-pricing event | August 1, | July 1, | August 15, | July 1, | April 1, | ||||||||||||
June 21, | June 21, | 2013: 101.938 | 2013: 105.875 | 2014: 104.563 | 2019: 102.000 | 2013: 101.188 | ||||||||||||||
2014: 102 | 2014: 102 | 2014: par | 2014: 102.938 | 2015: 103.042 | 2020: par | 2014: par | ||||||||||||||
2015: 101 | 2015: 101 | 2015: par | 2016: 101.521 | |||||||||||||||||
2017: par | ||||||||||||||||||||
Make-whole redemption (7) | N/A | N/A | N/A | N/A | N/A | Callable prior to | Callable prior to | N/A | ||||||||||||
15-Aug-14 | July 1, 2019 at | |||||||||||||||||||
at make-whole | make-whole call price of | |||||||||||||||||||
call price of | Treasury +50 bps | |||||||||||||||||||
Treasury +50 bps | ||||||||||||||||||||
Change of control (7) | Event of default | Put at 101% of | Put at 101% of | Put at 101% of | Put at 101% of | Put at 101% of | Put at 101% of | Put at 101% of | ||||||||||||
principal plus | principal plus | principal plus | principal plus | principal plus | principal plus | principal plus | ||||||||||||||
accrued interest | accrued interest | accrued interest | accrued interest | accrued interest | accrued interest | accrued interest | ||||||||||||||
Equity clawback (7) | N/A | N/A | N/A | N/A | N/A | N/A | Redeemable until | N/A | ||||||||||||
1-Jul-16 | ||||||||||||||||||||
at 111.00%, plus | ||||||||||||||||||||
accrued interest | ||||||||||||||||||||
for up to 35% | ||||||||||||||||||||
Estimated fair value (8) | $211.2 million | $625 million | $200 million | $10.6 million | $7.8 million | $298 million | $354.3 million | $341.3 million |
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset Retirement Obligation [Abstract] | ' | |||||||
Estimated Asset Retirement Obligation Activity | ' | |||||||
As of December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Beginning asset retirement obligations | $ | 116,526 | $ | 85,822 | ||||
Additional liability incurred | 3,922 | 4,072 | ||||||
Change in estimates | 7,582 | 21,080 | ||||||
Accretion expense | 5,109 | 4,122 | ||||||
Asset retirement costs incurred | (1,560 | ) | (1,846 | ) | ||||
Settlement of liability in excess of obligation recorded | 742 | 2,229 | ||||||
Disposition | (21,935 | ) | — | |||||
Currency translation adjustment | (3,697 | ) | 1,047 | |||||
Ending asset retirement obligations | 106,689 | 116,526 | ||||||
Less current portion | (433 | ) | (577 | ) | ||||
Long-term asset retirement obligation | $ | 106,256 | $ | 115,949 | ||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | |||||||||||
Significant Components Of Deferred Tax Assets And Liabilities | ' | |||||||||||
As of December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Deferred tax assets: | ||||||||||||
Property, plant and equipment | $ | 209,134 | $ | 483,771 | ||||||||
Net operating loss carry-forwards | 183,982 | 109,100 | ||||||||||
Investment in Fortune Creek | 3,763 | 3,763 | ||||||||||
AMT tax credit | 47,883 | 55,814 | ||||||||||
Settlements of interest rate swaps | 1,681 | 5,876 | ||||||||||
Deferred compensation expense | 11,711 | 11,141 | ||||||||||
State | 3,680 | — | ||||||||||
Other | 791 | 2,710 | ||||||||||
Deferred tax assets | 462,625 | 672,175 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Net derivative gains | (44,039 | ) | (73,195 | ) | ||||||||
Other | (991 | ) | — | |||||||||
Deferred tax liabilities | (45,030 | ) | (73,195 | ) | ||||||||
Net deferred tax asset (liability) | 417,595 | 598,980 | ||||||||||
Valuation allowance | (417,595 | ) | (598,980 | ) | ||||||||
Total deferred tax asset (liability) | $ | — | $ | — | ||||||||
Reflected in the consolidated balance sheets as: | ||||||||||||
Current deferred income tax liability | $ | — | $ | — | ||||||||
Non-current deferred income tax liability | — | — | ||||||||||
$ | — | $ | — | |||||||||
Components of net income (loss) before income tax | ' | |||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
U.S. | $ | 184,034 | $ | (2,142,730 | ) | $ | 146,090 | |||||
Canada | (7,866 | ) | (505,446 | ) | 1,819 | |||||||
Total | $ | 176,168 | $ | (2,648,176 | ) | $ | 147,909 | |||||
Components Of Income Tax Expense | ' | |||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Current state income tax expense (benefit) | $ | 900 | $ | 1,752 | $ | (1,706 | ) | |||||
Current U.S. federal income tax expense (benefit) | (7,931 | ) | — | (5,565 | ) | |||||||
Current Canadian income tax expense | — | — | 642 | |||||||||
Total current income tax expense (benefit) | (7,031 | ) | 1,752 | (6,629 | ) | |||||||
Deferred U.S. federal income tax expense (benefit) | 205,820 | (763,639 | ) | 58,890 | ||||||||
U.S. federal valuation allowance expense | (186,713 | ) | 533,974 | — | ||||||||
Deferred state income tax expense (benefit) | (3,680 | ) | — | 1,980 | ||||||||
State valuation allowance expense | 3,680 | — | — | |||||||||
Deferred Canadian income tax expense (benefit) | 827 | (128,982 | ) | 3,622 | ||||||||
Canadian valuation allowance expense | 1,647 | 61,325 | — | |||||||||
Total deferred income tax expense (benefit) | 21,581 | (297,322 | ) | 64,492 | ||||||||
Total income tax expense (benefit) | $ | 14,550 | $ | (295,570 | ) | $ | 57,863 | |||||
Statutory Federal Income Tax Rate | ' | |||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
Permanent differences | 4.8 | % | (0.06 | )% | 1.51 | % | ||||||
State income taxes net of federal deduction | 0.31 | % | (0.04 | )% | 0.12 | % | ||||||
Canadian income taxes | (0.26 | )% | (1.93 | )% | 2.41 | % | ||||||
Other | (0.15 | )% | 0.67 | % | 0.08 | % | ||||||
Derivatives deferred in OCI | 12.43 | % | — | % | — | % | ||||||
Valuation allowance | (43.87 | )% | (22.48 | )% | — | % | ||||||
Effective income tax rate | 8.26 | % | 11.16 | % | 39.12 | % | ||||||
Schedule of Unrecognized Tax Benefits | ' | |||||||||||
As of | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Beginning unrecognized tax benefits | $ | — | $ | 9,219 | ||||||||
Changes | — | (9,219 | ) | |||||||||
Ending unrecognized tax benefits | $ | — | $ | — | ||||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Loss Contingency [Abstract] | ' | |||||||||||||||
Summary Of Contractual Obligations | ' | |||||||||||||||
GPT | Drilling Rig | Operating | Purchase | |||||||||||||
Contracts (1) | Contracts (2) | Leases (3) | Obligations (4) | |||||||||||||
(In thousands) | ||||||||||||||||
2014 | $ | 86,628 | $ | 4,240 | $ | 3,912 | $ | 3,071 | ||||||||
2015 | 85,043 | — | 3,994 | 220 | ||||||||||||
2016 | 81,803 | — | 4,123 | — | ||||||||||||
2017 | 78,326 | — | 4,070 | — | ||||||||||||
2018 | 65,860 | — | 4,043 | — | ||||||||||||
Thereafter | 140,624 | — | 12,996 | — | ||||||||||||
Total | $ | 538,284 | $ | 4,240 | $ | 33,138 | $ | 3,291 | ||||||||
(1) | Under contracts with various third parties, we are obligated to provide minimum daily natural gas volume for gathering, processing, fractionation and transportation, as determined on a monthly basis, or pay for any deficiencies at a specified reservation fee rate. Our gathering and transportation contracts with CMLP have no minimum volume requirement and, therefore, are not reported in the above amounts. | |||||||||||||||
(2) | We lease drilling rigs from third parties for use in our development and exploration programs. The outstanding drilling rig contract requires payment of a specified day rate of $20,000 for the entire lease term regardless of our utilization of the drilling rigs. | |||||||||||||||
(3) | We lease office buildings and other property under operating leases. Rent expense for operating leases with terms exceeding one month was $3.6 million in 2013, $4.2 million in 2012 and $4.8 million in 2011. Minimum payments have not been reduced by minimum sublease rentals of $2.2 million due in the future under noncancelable subleases. | |||||||||||||||
(4) | At December 31, 2013, we were under contract to purchase goods and services for use in field and gas plant operations. |
Quicksilver_Stockholders_Equit1
Quicksilver Stockholders' Equity (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | ' | |||||||||||||
Schedule Of Common Shares And Treasury Share Activity [Table Text Block] | ' | |||||||||||||
Common | Treasury | |||||||||||||
Shares Issued | Shares Held | |||||||||||||
Balance at January 1, 2011 | 175,524,816 | 5,050,450 | ||||||||||||
Stock options exercised | 209,221 | — | ||||||||||||
Restricted stock activity | 1,246,446 | 329,252 | ||||||||||||
Balance at December 31, 2011 | 176,980,483 | 5,379,702 | ||||||||||||
Stock options exercised | 1,572 | — | ||||||||||||
Restricted stock activity | 2,033,063 | 541,400 | ||||||||||||
Balance at December 31, 2012 | 179,015,118 | 5,921,102 | ||||||||||||
Stock options exercised | — | — | ||||||||||||
Restricted stock activity | 4,979,761 | 777,538 | ||||||||||||
Balance at December 31, 2013 | 183,994,879 | 6,698,640 | ||||||||||||
Assumptions For The Black-Scholes Option Pricing Model For Stock Options Issued | ' | |||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Weighted average grant date fair value | $1.05 | $4.21 | $9.16 | |||||||||||
Weighted average risk-free interest rate | 1.31% | 1.14% | 2.38% | |||||||||||
Expected life | 4.9 years | 6.0 years | 6.0 years | |||||||||||
Weighted average volatility | 68.97% | 68.20% | 66.77% | |||||||||||
Expected dividends | — | — | — | |||||||||||
Stock Option Activity | ' | |||||||||||||
Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life | Aggregate Intrinsic Value | |||||||||||
(In years) | (In thousands) | |||||||||||||
Outstanding at January 1, 2013 | 4,979,980 | $ | 10.23 | |||||||||||
Granted | 2,037,467 | 1.95 | ||||||||||||
Exercised | — | — | ||||||||||||
Canceled | (85,004 | ) | 6.63 | |||||||||||
Expired | (160,865 | ) | 8.86 | |||||||||||
Outstanding at December 31, 2013 | 6,771,578 | $ | 7.82 | 6.4 | $ | — | ||||||||
Exercisable at December 31, 2013 | 4,576,677 | $ | 9.3 | 5.3 | $ | — | ||||||||
Restricted Stock And Stock Unit Activity | ' | |||||||||||||
Payable in shares | Payable in cash | |||||||||||||
Shares | Weighted | Shares | Weighted | |||||||||||
Average | Average | |||||||||||||
Grant Date | Grant Date | |||||||||||||
Fair Value | Fair Value | |||||||||||||
Outstanding at January 1, 2013 | 3,099,135 | $ | 8.48 | 678,217 | $ | 7.71 | ||||||||
Granted | 6,511,441 | 2.76 | 1,483,306 | 2.81 | ||||||||||
Vested | (2,524,332 | ) | 6.69 | (284,406 | ) | 8.51 | ||||||||
Canceled | (1,418,154 | ) | 3.68 | (304,776 | ) | 3.86 | ||||||||
Outstanding at December 31, 2013 | 5,668,090 | $ | 3.9 | 1,572,341 | $ | 3.69 | ||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Reconciliation Of Components Used To Compute Basic And Diluted Earnings (Loss) Per Common Share | ' | |||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands, except per share data) | ||||||||||||
Net income (loss) attributable to Quicksilver | $ | 161,618 | $ | (2,352,606 | ) | $ | 90,046 | |||||
Basic income allocable to participating securities (1) | (4,252 | ) | — | (1,106 | ) | |||||||
Income (loss) available to shareholders | $ | 157,366 | $ | (2,352,606 | ) | $ | 88,940 | |||||
Weighted average common shares – basic | 171,518 | 170,106 | 168,993 | |||||||||
Effect of dilutive securities (2) | ||||||||||||
Share-based compensation awards | 141 | — | 742 | |||||||||
Weighted average common shares — diluted | 171,659 | 170,106 | 169,735 | |||||||||
Earnings (loss) per common share — basic | $ | 0.92 | $ | (13.83 | ) | $ | 0.53 | |||||
Earnings (loss) per common share — diluted | $ | 0.92 | $ | (13.83 | ) | $ | 0.52 | |||||
(1) | Restricted share awards that contain nonforfeitable rights to dividends are participating securities and, therefore, should be included in computing earnings using the two-class method. Participating securities, however, do not participate in undistributed net losses because there is no contractual obligation to do so. | |||||||||||
(2) | For 2013, 5.6 million shares associated with our stock options and 0.2 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. For 2012, 5.0 million shares associated with our stock options and 0.3 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. For 2011, the effects of 9.8 million shares associated with our convertible debentures for the period outstanding were antidilutive, and 1.9 million shares associated with our stock options and 0.1 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. |
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Condensed Consolidating Financial Information [Abstract] | ' | |||||||||||||||||||||||||||||||||||
List of Subsidiaries | ' | |||||||||||||||||||||||||||||||||||
Guarantor Subsidiaries - | Non-Guarantor Subsidiaries | |||||||||||||||||||||||||||||||||||
Restricted | Restricted | Unrestricted | ||||||||||||||||||||||||||||||||||
Cowtown Pipeline Funding, Inc. | Quicksilver Resources Canada Inc. | Makarios Resources International Holdings LLC (2) | ||||||||||||||||||||||||||||||||||
Cowtown Pipeline Management, Inc. | Cowtown Drilling Inc. (1) | 1622834 Alberta Inc. (2) | ||||||||||||||||||||||||||||||||||
Cowtown Pipeline L.P. | Quicksilver Resources Partners Operating Ltd. (2) | Makarios Midstream Inc. (2) | ||||||||||||||||||||||||||||||||||
Cowtown Gas Processing L.P. | 0942065 B.C. Ltd. (3) | Makarios Resources International Inc. (2) | ||||||||||||||||||||||||||||||||||
Barnett Shale Operating LLC (2) | 0942069 B.C Ltd. (3) | Quicksilver Production Partners GP LLC (2) | ||||||||||||||||||||||||||||||||||
QPP Parent LLC (3) | Quicksilver Production Partners LP (2) | |||||||||||||||||||||||||||||||||||
QPP Holdings LLC (3) | ||||||||||||||||||||||||||||||||||||
Silver Stream Pipeline Company LLC (3) | ||||||||||||||||||||||||||||||||||||
-1 | This entity was inactive for the three-year period ended December 31, 2013. | |||||||||||||||||||||||||||||||||||
(2) | These entities were created in 2011. | |||||||||||||||||||||||||||||||||||
(3) | These entities were created in 2012. | |||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheets | ' | |||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Restricted | Quicksilver | Unrestricted | Fortune | Consolidating | Quicksilver | ||||||||||||||||||||||||||||
Resources | Guarantor | Non-Guarantor | Subsidiary | and | Non-Guarantor | Creek | Eliminations | Resources | ||||||||||||||||||||||||||||
Inc. | Subsidiaries | Subsidiaries | Eliminations | Restricted | Subsidiaries | Inc. | ||||||||||||||||||||||||||||||
Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||
Current assets | $ | 349,586 | $ | 10,735 | $ | 53,034 | $ | (19,642 | ) | $ | 393,713 | $ | 909 | $ | 1,110 | $ | (1,772 | ) | $ | 393,960 | ||||||||||||||||
Property and equipment | 455,822 | 15,486 | 307,865 | — | 779,173 | — | 81,632 | — | 860,805 | |||||||||||||||||||||||||||
Investment in subsidiaries (equity method) | (217,852 | ) | — | (33,840 | ) | 217,852 | (33,840 | ) | (33,840 | ) | — | 67,680 | — | |||||||||||||||||||||||
Other assets | 472,792 | — | 32,892 | (390,723 | ) | 114,961 | — | — | — | 114,961 | ||||||||||||||||||||||||||
Total assets | $ | 1,060,348 | $ | 26,221 | $ | 359,951 | $ | (192,513 | ) | $ | 1,254,007 | $ | (32,931 | ) | $ | 82,742 | $ | 65,908 | $ | 1,369,726 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||||||||||
Current liabilities | $ | 124,275 | $ | 12,210 | $ | 17,167 | $ | (19,642 | ) | $ | 134,010 | $ | 888 | $ | 1,671 | $ | (1,772 | ) | $ | 134,797 | ||||||||||||||||
Long-term liabilities | 1,942,043 | 19,242 | 542,659 | (390,723 | ) | 2,113,221 | — | 1,546 | 126,132 | 2,240,899 | ||||||||||||||||||||||||||
Quicksilver stockholders’ equity | (1,005,970 | ) | (5,231 | ) | (199,875 | ) | 217,852 | (993,224 | ) | (33,819 | ) | 79,525 | (58,452 | ) | (1,005,970 | ) | ||||||||||||||||||||
Total liabilities and equity | $ | 1,060,348 | $ | 26,221 | $ | 359,951 | $ | (192,513 | ) | $ | 1,254,007 | $ | (32,931 | ) | $ | 82,742 | $ | 65,908 | $ | 1,369,726 | ||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Restricted | Quicksilver | Unrestricted | Fortune | Consolidating | Quicksilver | ||||||||||||||||||||||||||||
Resources | Guarantor | Non-Guarantor | Subsidiary | and | Non-Guarantor | Creek | Eliminations | Resources | ||||||||||||||||||||||||||||
Inc. | Subsidiaries | Subsidiaries | Eliminations | Restricted | Subsidiaries | Inc. | ||||||||||||||||||||||||||||||
Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||
Current assets | $ | 261,130 | $ | 105,695 | $ | 76,088 | $ | (222,586 | ) | $ | 220,327 | $ | 13,250 | $ | 391 | $ | (26,455 | ) | $ | 207,513 | ||||||||||||||||
Property and equipment | 621,073 | 20,007 | 296,462 | — | 937,542 | — | 91,516 | — | 1,029,058 | |||||||||||||||||||||||||||
Investment in subsidiaries (equity method) | (191,725 | ) | — | (42,883 | ) | 191,725 | (42,883 | ) | (42,905 | ) | — | 85,788 | — | |||||||||||||||||||||||
Other assets | 346,972 | — | 41,865 | (243,620 | ) | 145,217 | — | — | — | 145,217 | ||||||||||||||||||||||||||
Total assets | $ | 1,037,450 | $ | 125,702 | $ | 371,532 | $ | (274,481 | ) | $ | 1,260,203 | $ | (29,655 | ) | $ | 91,907 | $ | 59,333 | $ | 1,381,788 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||||||||||
Current liabilities | $ | 255,678 | $ | 112,133 | $ | 33,475 | $ | (222,586 | ) | $ | 178,700 | $ | 13,230 | $ | 2,316 | $ | (26,455 | ) | $ | 167,791 | ||||||||||||||||
Long-term liabilities | 1,914,568 | 19,242 | 524,107 | (243,620 | ) | 2,214,297 | — | 1,585 | 130,912 | 2,346,794 | ||||||||||||||||||||||||||
Quicksilver stockholders’ equity | (1,132,796 | ) | (5,673 | ) | (186,050 | ) | 191,725 | (1,132,794 | ) | (42,885 | ) | 88,006 | (45,124 | ) | (1,132,797 | ) | ||||||||||||||||||||
Total liabilities and equity | $ | 1,037,450 | $ | 125,702 | $ | 371,532 | $ | (274,481 | ) | $ | 1,260,203 | $ | (29,655 | ) | $ | 91,907 | $ | 59,333 | $ | 1,381,788 | ||||||||||||||||
Condensed Consolidating Statements Of Income | ' | |||||||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Income | ||||||||||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Restricted | Quicksilver | Unrestricted | Fortune | Consolidating | Quicksilver | ||||||||||||||||||||||||||||
Resources | Guarantor | Non-Guarantor | Subsidiary | and | Non-Guarantor | Creek | Eliminations | Resources | ||||||||||||||||||||||||||||
Inc. | Subsidiaries | Subsidiaries | Eliminations | Restricted | Subsidiaries | Inc. | ||||||||||||||||||||||||||||||
Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Revenue | $ | 416,516 | $ | 788 | $ | 144,258 | $ | — | $ | 561,562 | $ | — | $ | 22,364 | $ | (22,364 | ) | $ | 561,562 | |||||||||||||||||
Operating expenses | 329,975 | 346 | 118,481 | — | 448,802 | — | 9,808 | (22,364 | ) | 436,246 | ||||||||||||||||||||||||||
Tokyo Gas Transaction gain | 339,328 | — | — | — | 339,328 | — | — | — | 339,328 | |||||||||||||||||||||||||||
Equity in net earnings of subsidiaries | (9,896 | ) | — | (6,682 | ) | 9,896 | (6,682 | ) | 12,563 | — | (5,881 | ) | — | |||||||||||||||||||||||
Operating income (loss) | 415,973 | 442 | 19,095 | 9,896 | 445,406 | 12,563 | 12,556 | (5,881 | ) | 464,644 | ||||||||||||||||||||||||||
Fortune Creek accretion | — | — | — | — | — | — | — | (19,245 | ) | (19,245 | ) | |||||||||||||||||||||||||
Interest expense and other | (242,279 | ) | — | (26,959 | ) | — | (269,238 | ) | — | 7 | — | (269,231 | ) | |||||||||||||||||||||||
Income tax expense | (12,076 | ) | — | (2,474 | ) | — | (14,550 | ) | — | — | — | (14,550 | ) | |||||||||||||||||||||||
Net income (loss) | $ | 161,618 | $ | 442 | $ | (10,338 | ) | $ | 9,896 | $ | 161,618 | $ | 12,563 | $ | 12,563 | $ | (25,126 | ) | $ | 161,618 | ||||||||||||||||
Other comprehensive loss | (40,166 | ) | — | (11,446 | ) | — | (51,612 | ) | — | — | — | (51,612 | ) | |||||||||||||||||||||||
Equity in OCI of subsidiaries | (11,446 | ) | — | — | 11,446 | — | — | — | — | — | ||||||||||||||||||||||||||
Comprehensive income (loss) | $ | 110,006 | $ | 442 | $ | (21,784 | ) | $ | 21,342 | $ | 110,006 | $ | 12,563 | $ | 12,563 | $ | (25,126 | ) | $ | 110,006 | ||||||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Restricted | Quicksilver | Unrestricted | Fortune | Consolidating | Quicksilver | ||||||||||||||||||||||||||||
Resources | Guarantor | Non-Guarantor | Subsidiary | and | Non-Guarantor | Creek | Eliminations | Resources | ||||||||||||||||||||||||||||
Inc. | Subsidiaries | Subsidiaries | Eliminations | Restricted | Subsidiaries | Inc. | ||||||||||||||||||||||||||||||
Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Revenue | $ | 611,477 | $ | 4,574 | $ | 95,887 | $ | (2,900 | ) | $ | 709,038 | $ | — | $ | 14,639 | $ | (14,639 | ) | $ | 709,038 | ||||||||||||||||
Operating expenses | 2,643,690 | 4,109 | 577,696 | (2,900 | ) | 3,222,595 | — | 7,940 | (14,639 | ) | 3,215,896 | |||||||||||||||||||||||||
Crestwood earn-out | 41,097 | — | — | — | 41,097 | — | — | — | 41,097 | |||||||||||||||||||||||||||
Equity in net earnings of subsidiaries | (437,510 | ) | — | (12,747 | ) | 437,510 | (12,747 | ) | 6,726 | — | 6,021 | — | ||||||||||||||||||||||||
Operating income (loss) | (2,428,626 | ) | 465 | (494,556 | ) | 437,510 | (2,485,207 | ) | 6,726 | 6,699 | 6,021 | (2,465,761 | ) | |||||||||||||||||||||||
Fortune Creek accretion | — | — | — | — | — | — | — | (19,472 | ) | (19,472 | ) | |||||||||||||||||||||||||
Interest expense and other | (152,077 | ) | — | (10,914 | ) | — | (162,991 | ) | 21 | 27 | — | (162,943 | ) | |||||||||||||||||||||||
Income tax (expense) benefit | 228,097 | (163 | ) | 67,658 | — | 295,592 | — | — | (22 | ) | 295,570 | |||||||||||||||||||||||||
Net income (loss) | $ | (2,352,606 | ) | $ | 302 | $ | (437,812 | ) | $ | 437,510 | $ | (2,352,606 | ) | $ | 6,747 | $ | 6,726 | $ | (13,473 | ) | $ | (2,352,606 | ) | |||||||||||||
Other comprehensive income (loss) | (57,273 | ) | — | 3,908 | — | (53,365 | ) | — | — | — | (53,365 | ) | ||||||||||||||||||||||||
Equity in OCI of subsidiaries | 3,908 | — | — | (3,908 | ) | — | — | — | — | — | ||||||||||||||||||||||||||
Comprehensive income (loss) | $ | (2,405,971 | ) | $ | 302 | $ | (433,904 | ) | $ | 433,602 | $ | (2,405,971 | ) | $ | 6,747 | $ | 6,726 | $ | (13,473 | ) | $ | (2,405,971 | ) | |||||||||||||
For the Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Consolidating | Quicksilver | ||||||||||||||||||||||||||||||||
Resources Inc. | Guarantor | Non-Guarantor | Eliminations | Resources Inc. | ||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Consolidated | ||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Revenue | $ | 778,741 | $ | 4,573 | $ | 163,864 | $ | (3,555 | ) | $ | 943,623 | |||||||||||||||||||||||||
Operating expenses | 603,582 | 64,476 | 156,516 | (3,555 | ) | 821,019 | ||||||||||||||||||||||||||||||
Equity in net earnings of subsidiaries | (40,725 | ) | — | — | 40,725 | — | ||||||||||||||||||||||||||||||
Operating income (loss) | 134,434 | (59,903 | ) | 7,348 | 40,725 | 122,604 | ||||||||||||||||||||||||||||||
Income from earnings of BBEP | (8,439 | ) | — | — | — | (8,439 | ) | |||||||||||||||||||||||||||||
Interest expense and other | 39,252 | 18 | (5,526 | ) | — | 33,744 | ||||||||||||||||||||||||||||||
Income tax (expense) benefit | (75,201 | ) | 20,960 | (3,622 | ) | — | (57,863 | ) | ||||||||||||||||||||||||||||
Net income (loss) | $ | 90,046 | $ | (38,925 | ) | $ | (1,800 | ) | $ | 40,725 | $ | 90,046 | ||||||||||||||||||||||||
Other comprehensive income (loss) | 67,493 | — | 17,178 | (17,178 | ) | 67,493 | ||||||||||||||||||||||||||||||
Equity in OCI of subsidiaries | 17,178 | — | — | — | 17,178 | |||||||||||||||||||||||||||||||
Comprehensive income (loss) | $ | 174,717 | $ | (38,925 | ) | $ | 15,378 | $ | 23,547 | $ | 174,717 | |||||||||||||||||||||||||
Condensed Consolidating Statements Of Cash Flows | ' | |||||||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Quicksilver | Unrestricted Non-Guarantor Subsidiaries | Fortune Creek | Quicksilver | ||||||||||||||||||||||||||||||
Resources Inc. | Guarantor | Non-Guarantor | and Restricted | Resources Inc. | ||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Net cash flow provided by (used in) operating activities | $ | (78,565 | ) | $ | — | $ | 16,456 | $ | (62,109 | ) | $ | — | $ | 10,409 | $ | (51,700 | ) | |||||||||||||||||||
Capital expenditures | (67,263 | ) | — | (33,520 | ) | (100,783 | ) | — | (505 | ) | (101,288 | ) | ||||||||||||||||||||||||
Proceeds from Tokyo Gas Transaction | 463,999 | — | — | 463,999 | — | — | 463,999 | |||||||||||||||||||||||||||||
Proceeds from Synergy Transaction | 42,297 | — | — | 42,297 | — | — | 42,297 | |||||||||||||||||||||||||||||
Proceeds from sale of properties and equipment | 7,128 | — | 43 | 7,171 | — | — | 7,171 | |||||||||||||||||||||||||||||
Purchase of marketable securities | (213,738 | ) | — | — | (213,738 | ) | — | — | (213,738 | ) | ||||||||||||||||||||||||||
Maturities and sales of marketable securities | 47,603 | — | — | 47,603 | — | — | 47,603 | |||||||||||||||||||||||||||||
Net cash flow provided by (used in) investing activities | 280,026 | — | (33,477 | ) | 246,549 | — | (505 | ) | 246,044 | |||||||||||||||||||||||||||
Issuance of debt | 1,215,266 | — | 22,086 | 1,237,352 | — | — | 1,237,352 | |||||||||||||||||||||||||||||
Repayments of debt | (1,157,969 | ) | — | (150,413 | ) | (1,308,382 | ) | — | — | (1,308,382 | ) | |||||||||||||||||||||||||
Debt issuance costs | (26,296 | ) | — | — | (26,296 | ) | — | — | (26,296 | ) | ||||||||||||||||||||||||||
Intercompany Note | (147,103 | ) | — | 147,103 | — | — | — | — | ||||||||||||||||||||||||||||
Distribution of Fortune Creek Partnership funds | — | — | — | — | — | (14,965 | ) | (14,965 | ) | |||||||||||||||||||||||||||
Purchase of treasury stock | (1,927 | ) | — | — | (1,927 | ) | — | — | (1,927 | ) | ||||||||||||||||||||||||||
Net cash flow provided by (used in) financing activities | (118,029 | ) | — | 18,776 | (99,253 | ) | — | (14,965 | ) | (114,218 | ) | |||||||||||||||||||||||||
Effect of exchange rates on cash | — | — | (1,755 | ) | (1,755 | ) | — | 5,781 | 4,026 | |||||||||||||||||||||||||||
Net increase in cash and equivalents | 83,432 | — | — | 83,432 | — | 720 | 84,152 | |||||||||||||||||||||||||||||
Cash and equivalents at beginning of period | 4,618 | — | — | 4,618 | — | 333 | 4,951 | |||||||||||||||||||||||||||||
Cash and equivalents at end of period | $ | 88,050 | $ | — | $ | — | $ | 88,050 | $ | — | $ | 1,053 | $ | 89,103 | ||||||||||||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Quicksilver | Unrestricted Non-Guarantor Subsidiaries | Fortune Creek | Quicksilver | ||||||||||||||||||||||||||||||
Resources Inc. | Guarantor | Non-Guarantor | and Restricted | Resources Inc. | ||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Net cash flow provided by operating activities | $ | 163,353 | $ | 656 | $ | 49,271 | $ | 213,280 | $ | — | $ | 14,447 | $ | 227,727 | ||||||||||||||||||||||
Capital expenditures | (231,934 | ) | (656 | ) | (242,158 | ) | (474,748 | ) | — | (10,731 | ) | (485,479 | ) | |||||||||||||||||||||||
Proceeds from Crestwood earn-out | 41,097 | — | — | 41,097 | — | — | 41,097 | |||||||||||||||||||||||||||||
Proceeds from sale of properties and equipment | 72,362 | — | 363 | 72,725 | — | — | 72,725 | |||||||||||||||||||||||||||||
Net cash flow used in investing activities | (118,475 | ) | (656 | ) | (241,795 | ) | (360,926 | ) | — | (10,731 | ) | (371,657 | ) | |||||||||||||||||||||||
Issuance of debt | 228,500 | — | 239,459 | 467,959 | — | — | 467,959 | |||||||||||||||||||||||||||||
Repayments of debt | (264,018 | ) | — | (46,412 | ) | (310,430 | ) | — | — | (310,430 | ) | |||||||||||||||||||||||||
Debt issuance costs | (1,972 | ) | — | (1,050 | ) | (3,022 | ) | — | — | (3,022 | ) | |||||||||||||||||||||||||
Distribution of Fortune Creek Partnership funds | — | — | — | — | — | (14,285 | ) | (14,285 | ) | |||||||||||||||||||||||||||
Proceeds from exercise of stock options | 11 | — | — | 11 | — | — | 11 | |||||||||||||||||||||||||||||
Purchase of treasury stock | (3,144 | ) | — | — | (3,144 | ) | — | — | (3,144 | ) | ||||||||||||||||||||||||||
Net cash flow provided by (used in) financing activities | (40,623 | ) | — | 191,997 | 151,374 | — | (14,285 | ) | 137,089 | |||||||||||||||||||||||||||
Effect of exchange rates on cash | — | — | 527 | 527 | — | (1,881 | ) | (1,354 | ) | |||||||||||||||||||||||||||
Net increase (decrease) in cash and equivalents | 4,255 | — | — | 4,255 | — | (12,450 | ) | (8,195 | ) | |||||||||||||||||||||||||||
Cash and equivalents at beginning of period | 363 | — | — | 363 | — | 12,783 | 13,146 | |||||||||||||||||||||||||||||
Cash and equivalents at end of period | $ | 4,618 | $ | — | $ | — | $ | 4,618 | $ | — | $ | 333 | $ | 4,951 | ||||||||||||||||||||||
For the Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||
Quicksilver | Restricted | Restricted | Quicksilver | Fortune | Consolidating | Quicksilver | ||||||||||||||||||||||||||||||
Resources Inc. | Guarantor | Non-Guarantor | and Restricted | Creek | Eliminations | Resources Inc. | ||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Subsidiaries | Consolidated | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Net cash flow provided by operating activities | $ | 202,043 | $ | 2,225 | $ | 48,785 | $ | 253,053 | $ | — | $ | — | $ | 253,053 | ||||||||||||||||||||||
Capital expenditures | (518,454 | ) | (2,225 | ) | (169,928 | ) | (690,607 | ) | — | — | (690,607 | ) | ||||||||||||||||||||||||
Proceeds from sale of BBEP units | 272,965 | — | — | 272,965 | — | — | 272,965 | |||||||||||||||||||||||||||||
Investment in Fortune Creek | — | — | (12,783 | ) | (12,783 | ) | — | 12,783 | — | |||||||||||||||||||||||||||
Proceeds from sale of properties and equipment | 2,959 | — | 1,204 | 4,163 | — | — | 4,163 | |||||||||||||||||||||||||||||
Net cash flow provided by (used in) investing activities | (242,530 | ) | (2,225 | ) | (181,507 | ) | (426,262 | ) | — | 12,783 | (413,479 | ) | ||||||||||||||||||||||||
Issuance of debt | 587,500 | — | 268,322 | 855,822 | — | — | 855,822 | |||||||||||||||||||||||||||||
Repayments of debt | (588,862 | ) | — | (254,246 | ) | (843,108 | ) | — | — | (843,108 | ) | |||||||||||||||||||||||||
Debt issuance costs | (9,160 | ) | — | (3,346 | ) | (12,506 | ) | — | — | (12,506 | ) | |||||||||||||||||||||||||
Proceeds from exercise of stock options | 1,299 | — | — | 1,299 | — | — | 1,299 | |||||||||||||||||||||||||||||
Partnership funds received | — | — | — | — | 135,696 | (12,783 | ) | 122,913 | ||||||||||||||||||||||||||||
Creation of partnership liability | — | — | 122,913 | 122,913 | (122,913 | ) | — | — | ||||||||||||||||||||||||||||
Purchase of treasury stock | (4,864 | ) | — | — | (4,864 | ) | — | — | (4,864 | ) | ||||||||||||||||||||||||||
Net cash flow provided by (used in) financing activities | (14,087 | ) | — | 133,643 | 119,556 | 12,783 | (12,783 | ) | 119,556 | |||||||||||||||||||||||||||
Effect of exchange rates on cash | — | — | (921 | ) | (921 | ) | — | — | (921 | ) | ||||||||||||||||||||||||||
Net increase (decrease) in cash and equivalents | (54,574 | ) | — | — | (54,574 | ) | 12,783 | — | (41,791 | ) | ||||||||||||||||||||||||||
Cash and equivalents at beginning of period | 54,937 | — | — | 54,937 | — | — | 54,937 | |||||||||||||||||||||||||||||
Cash and equivalents at end of period | $ | 363 | $ | — | $ | — | $ | 363 | $ | 12,783 | $ | — | $ | 13,146 | ||||||||||||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Operating Income And Property And Equipment Costs Incurred | ' | |||||||||||||||||||||||
Exploration & Production | Midstream | Quicksilver | ||||||||||||||||||||||
U.S. | Canada | Corporate | Elimination | Consolidated | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||
Revenue | $ | 416,462 | $ | 141,870 | $ | 25,594 | $ | — | $ | (22,364 | ) | $ | 561,562 | |||||||||||
DD&A | 37,540 | 17,508 | 5,249 | 2,315 | — | 62,612 | ||||||||||||||||||
Impairment expense | 1,809 | — | 54 | — | — | 1,863 | ||||||||||||||||||
Operating income (loss) | 476,610 | 32,648 | 13,008 | (57,622 | ) | — | 464,644 | |||||||||||||||||
Property and equipment costs incurred | 64,976 | 16,838 | 7,055 | 9,792 | — | 98,661 | ||||||||||||||||||
2012 | ||||||||||||||||||||||||
Revenue | $ | 598,892 | $ | 105,949 | $ | 21,735 | $ | — | $ | (17,538 | ) | $ | 709,038 | |||||||||||
DD&A | 123,370 | 32,686 | 5,182 | 2,386 | — | 163,624 | ||||||||||||||||||
Impairment expense | 2,152,665 | 465,935 | 7,328 | — | — | 2,625,928 | ||||||||||||||||||
Operating income (loss) | (1,921,073 | ) | (474,768 | ) | 8,163 | (78,083 | ) | — | (2,465,761 | ) | ||||||||||||||
Property and equipment costs incurred | 189,997 | 174,867 | 18,742 | 6,850 | — | 390,456 | ||||||||||||||||||
2011 | ||||||||||||||||||||||||
Revenue | $ | 806,657 | $ | 135,948 | $ | 4,573 | $ | — | $ | (3,555 | ) | $ | 943,623 | |||||||||||
DD&A | 171,438 | 47,116 | 4,889 | 2,320 | — | 225,763 | ||||||||||||||||||
Impairment expense | — | 49,063 | 57,996 | — | — | 107,059 | ||||||||||||||||||
Operating income (loss) | 251,495 | 12,914 | (59,903 | ) | (81,902 | ) | — | 122,604 | ||||||||||||||||
Property and equipment costs incurred | 487,145 | 131,699 | 64,119 | 11,516 | — | 694,479 | ||||||||||||||||||
Property, plant and equipment—net | ||||||||||||||||||||||||
31-Dec-13 | $ | 451,840 | $ | 306,423 | $ | 97,118 | $ | 5,424 | $ | — | $ | 860,805 | ||||||||||||
31-Dec-12 | 614,071 | 294,921 | 111,523 | 8,543 | — | 1,029,058 | ||||||||||||||||||
Total assets | ||||||||||||||||||||||||
31-Dec-13 | $ | 895,388 | $ | 359,951 | $ | 108,963 | $ | 5,424 | $ | — | $ | 1,369,726 | ||||||||||||
31-Dec-12 | 784,104 | 371,532 | 217,609 | 8,543 | — | 1,381,788 | ||||||||||||||||||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||||
Cash Paid Or Received For Interest And Income Taxes | ' | |||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Interest, net of capitalized interest | $ | 254,901 | $ | 154,663 | $ | 170,814 | ||||||
Income taxes | 833 | (20,682 | ) | (4,249 | ) | |||||||
Other Significant Non-cash Transactions | ' | |||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Working capital related to capital expenditures | $ | 10,324 | $ | 10,939 | $ | 107,586 | ||||||
Note receivable received for sale of land and building | — | — | 5,300 | |||||||||
Supplemental_Selected_Quarterl1
Supplemental Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||
Schedule Of Quarterly Financial Data | ' | |||||||||||||||
Quarter Ended | ||||||||||||||||
March 31 | June 30 | September 30 | December 31 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
2013 (1) (2) (3) | ||||||||||||||||
Operating revenue | $ | 118,703 | $ | 175,497 | $ | 153,116 | $ | 114,246 | ||||||||
Operating income (loss) | (3,874 | ) | 394,894 | 60,049 | 13,575 | |||||||||||
Net income (loss) | (59,707 | ) | 242,523 | 10,577 | (31,775 | ) | ||||||||||
Basic net earnings per share | $ | (0.35 | ) | $ | 1.37 | $ | 0.06 | $ | (0.18 | ) | ||||||
Diluted net earnings per share | (0.35 | ) | 1.37 | 0.06 | (0.18 | ) | ||||||||||
2012 (4) (5) (6) (7) | ||||||||||||||||
Operating revenue | $ | 172,866 | $ | 194,018 | $ | 118,188 | $ | 223,966 | ||||||||
Operating loss | (267,985 | ) | (1,153,012 | ) | (576,551 | ) | (468,213 | ) | ||||||||
Net loss | (211,565 | ) | (802,022 | ) | (790,520 | ) | (548,499 | ) | ||||||||
Basic net earnings per share | $ | (1.24 | ) | $ | (4.72 | ) | $ | (4.65 | ) | $ | (3.22 | ) | ||||
Diluted net earnings per share | (1.24 | ) | (4.72 | ) | (4.65 | ) | (3.22 | ) | ||||||||
(1) | Operating income for the second quarter of 2013 includes gains of $333.2 million related to the Tokyo Gas Transaction which was subsequently adjusted in later quarters to be a gain of $339.3 million. The period also includes an immaterial correction of $3.6 million for equity-based compensation granted to retirement-eligible employees whose awards required no future service at the time of grant but which expense was being recognized over multiple periods. The impact to the first quarter of 2013 expense was $1.2 million and the impact to 2012 and prior years was $2.4 million. | |||||||||||||||
(2) | Operating income for the third quarter of 2013 includes an increase of $8.2 million to correct for immaterial items which pertain to earlier quarters in 2013, comprised of an increase to the gain related to the Tokyo Gas Transaction of $7.8 million arising from a change to the amount of unevaluated properties allocated to TGBR. | |||||||||||||||
(3) | Operating income for the fourth quarter of 2013 includes a decrease of $5.9 million to correct for immaterial items which pertain to prior 2013 quarters. These items include an adjustment to non-cash expense to settle litigation recognized in the first quarter of 2013 of $3.0 million, non-cash decrease in the gain related to the Tokyo Gas Transaction of $1.7 million arising from a change in the amount of surface real estate conveyed to TGBR, increase in the amortization of deferred financing costs and original issue discount of $0.8 million and strategic transaction fees of $0.5 million arising in the second quarter of 2013. | |||||||||||||||
(4) | Operating loss for the first quarter of 2012 includes charges for impairment of $178.0 million and $139.9 million for our U.S. and Canadian oil and gas properties, respectively. | |||||||||||||||
(5) | Operating loss for the second quarter of 2012 includes charges for impairment of $1,042.7 million and $157.0 million for our U.S. and Canadian oil and gas properties, respectively. | |||||||||||||||
(6) | Operating loss for the third quarter of 2012 includes charges for impairment of $479.9 million and $66.3 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $4.9 million impairment charge for other property and equipment in Colorado. Net loss includes a valuation allowance for the U.S. of $359.9 million. | |||||||||||||||
(7) | Operating loss for the fourth quarter of 2012 includes charges for impairment of $451.5 million and $102.8 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $2.9 million impairment charge related to non-oil and gas properties. Net loss includes a valuation allowance for Canada of $61.3 million. |
Supplemental_Oil_and_Gas_Infor1
Supplemental Oil and Gas Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Supplemental Oil and Gas Information [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Table Text Block] | ' | ||||||||||||||||||||||||||
The changes in our proved reserves for the three years ended December 31, 2013 were as follows: | |||||||||||||||||||||||||||
Natural Gas (MMcf) | NGL (MBbl) | Oil (MBbl) | |||||||||||||||||||||||||
U.S. | Canada | Total | U.S. | Canada | Total | U.S. | Canada | Total | |||||||||||||||||||
December 31, 2010 | 1,941,723 | 265,888 | 2,207,611 | 112,444 | 12 | 112,456 | 3,308 | — | 3,308 | ||||||||||||||||||
Revisions (3) | (172,643 | ) | 15,066 | (157,577 | ) | (8,519 | ) | 1 | (8,518 | ) | (43 | ) | — | (43 | ) | ||||||||||||
Extensions and discoveries (2) | 155,662 | 76,067 | 231,729 | 2,652 | — | 2,652 | 43 | — | 43 | ||||||||||||||||||
Production | (95,838 | ) | (26,390 | ) | (122,228 | ) | (4,432 | ) | (2 | ) | (4,434 | ) | (273 | ) | — | (273 | ) | ||||||||||
31-Dec-11 | 1,828,904 | 330,631 | 2,159,535 | 102,145 | 11 | 102,156 | 3,035 | — | 3,035 | ||||||||||||||||||
Revisions (3) | (910,386 | ) | (33,945 | ) | (944,331 | ) | (45,379 | ) | 1 | (45,378 | ) | (479 | ) | — | (479 | ) | |||||||||||
Extensions and discoveries (2) | 25,858 | 9 | 25,867 | 3,518 | — | 3,518 | 345 | — | 345 | ||||||||||||||||||
Sales in place (1) | (20,616 | ) | — | (20,616 | ) | (42 | ) | — | (42 | ) | (85 | ) | — | (85 | ) | ||||||||||||
Production | (75,712 | ) | (29,912 | ) | (105,624 | ) | (4,069 | ) | (2 | ) | (4,071 | ) | (287 | ) | — | (287 | ) | ||||||||||
31-Dec-12 | 848,048 | 266,783 | 1,114,831 | 56,173 | 10 | 56,183 | 2,529 | — | 2,529 | ||||||||||||||||||
Revisions (3) | 234,835 | 28,648 | 263,483 | 750 | — | 750 | 62 | — | 62 | ||||||||||||||||||
Extensions and discoveries (2) | 50,992 | 9,697 | 60,689 | — | — | — | — | — | — | ||||||||||||||||||
Sales in place (4) | (257,741 | ) | — | (257,741 | ) | (14,333 | ) | — | (14,333 | ) | (2,207 | ) | — | (2,207 | ) | ||||||||||||
Production | (51,684 | ) | (39,372 | ) | (91,056 | ) | (2,856 | ) | (1 | ) | (2,857 | ) | (185 | ) | — | (185 | ) | ||||||||||
31-Dec-13 | 824,450 | 265,756 | 1,090,206 | 39,734 | 9 | 39,743 | 199 | — | 199 | ||||||||||||||||||
Proved developed reserves | |||||||||||||||||||||||||||
31-Dec-11 | 1,244,187 | 299,371 | 1,543,558 | 60,902 | 11 | 60,913 | 2,545 | — | 2,545 | ||||||||||||||||||
31-Dec-12 | 725,361 | 266,783 | 992,144 | 47,284 | 10 | 47,294 | 2,416 | — | 2,416 | ||||||||||||||||||
31-Dec-13 | 702,147 | 260,159 | 962,306 | 34,603 | 9 | 34,612 | 139 | — | 139 | ||||||||||||||||||
Proved undeveloped reserves | |||||||||||||||||||||||||||
31-Dec-11 | 584,717 | 31,260 | 615,977 | 41,243 | — | 41,243 | 490 | — | 490 | ||||||||||||||||||
31-Dec-12 | 122,687 | — | 122,687 | 8,890 | — | 8,890 | 113 | — | 113 | ||||||||||||||||||
31-Dec-13 | 122,303 | 5,896 | 128,199 | 5,131 | — | 5,131 | 60 | — | 60 | ||||||||||||||||||
(1) | Sales of reserves in place during 2012 relate to our agreement to allow an outside working interest owner to fund the completion costs for twelve wells in our Barnett Shale Asset for which they received a preferential right to reserves. It also includes a minimal sale of reserves in our Niobrara Asset to SWEPI. | ||||||||||||||||||||||||||
(2) | Extensions and discoveries for each period presented represent extensions to reserves attributable to additional drilling activity subsequent to discovery. U.S. extensions and discoveries for: | ||||||||||||||||||||||||||
• | 2013 are attributable to our Barnett Shale Asset; | ||||||||||||||||||||||||||
• | 2012 are 96% attributable to our Barnett Shale Asset, 4% to our Niobrara and West Texas Assets (of which 13% were proved developed); and | ||||||||||||||||||||||||||
• | 2011 are 100% attributable to our Barnett Shale Asset (of which 11% were proved developed). | ||||||||||||||||||||||||||
Canadian extensions and discoveries for: | |||||||||||||||||||||||||||
• | 2013 and 2012 are attributable to our Horseshoe Canyon Asset; and | ||||||||||||||||||||||||||
• | 2011 are 97% attributable to our Horn River Asset and 3% are attributable to our Horseshoe Canyon Asset. | ||||||||||||||||||||||||||
(3) | Revisions for each period presented reflect upward (downward) changes in previous estimates attributable to changes in economic factors of 419,972 MMcfe, (590,064) MMcfe and (54,539) MMcfe in 2013, 2012 and 2011, respectively, and changes in non-economic factors of (151,615) MMcfe, (629,407) MMcfe and (154,405) MMcfe in 2013, 2012 and 2011, respectively, including: | ||||||||||||||||||||||||||
• | Removal of proved undeveloped reserves that had not been developed within five years: (76) Bcfe and (250) Bcfe in 2013 and 2012, respectively; | ||||||||||||||||||||||||||
• | changes in performance related to offsetting activities, higher pipeline pressures and other factors: (74) Bcfe and (291) Bcfe in 2013 and 2012, respectively and | ||||||||||||||||||||||||||
• | revision of type curve of non producing wells based on comparison to producing analogs: (88) Bcfe in 2012. | ||||||||||||||||||||||||||
(4) | Sales of reserves in place during 2013 relate to the Tokyo Gas Transaction (337 Bcfe) and the Synergy Transaction (15 Bcfe). | ||||||||||||||||||||||||||
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block] | ' | ||||||||||||||||||||||||||
The carrying value of our oil and gas assets as of December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||||
U.S. | Canada | Consolidated | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||
Proved properties | $ | 4,645,777 | $ | 1,041,780 | $ | 5,687,557 | |||||||||||||||||||||
Unevaluated properties | 19,343 | 202,262 | 221,605 | ||||||||||||||||||||||||
Accumulated DD&A | (4,268,387 | ) | (1,000,332 | ) | (5,268,719 | ) | |||||||||||||||||||||
Net capitalized costs | $ | 396,733 | $ | 243,710 | $ | 640,443 | |||||||||||||||||||||
2012 | |||||||||||||||||||||||||||
Proved properties | $ | 4,681,860 | $ | 1,089,053 | $ | 5,770,913 | |||||||||||||||||||||
Unevaluated properties | 90,035 | 217,232 | 307,267 | ||||||||||||||||||||||||
Accumulated DD&A | (4,233,391 | ) | (1,063,829 | ) | (5,297,220 | ) | |||||||||||||||||||||
Net capitalized costs | $ | 538,504 | $ | 242,456 | $ | 780,960 | |||||||||||||||||||||
2011 | |||||||||||||||||||||||||||
Proved properties | $ | 4,380,745 | $ | 928,585 | $ | 5,309,330 | |||||||||||||||||||||
Unevaluated properties | 252,737 | 180,604 | 433,341 | ||||||||||||||||||||||||
Accumulated DD&A | (1,965,258 | ) | (550,937 | ) | (2,516,195 | ) | |||||||||||||||||||||
Net capitalized costs | $ | 2,668,224 | $ | 558,252 | $ | 3,226,476 | |||||||||||||||||||||
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block] | ' | ||||||||||||||||||||||||||
Our consolidated capital costs incurred for acquisition, exploration and development activities during each of the three years in the period ended December 31, 2013, were as follows: | |||||||||||||||||||||||||||
U.S. | Canada | Consolidated | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||
Proved acreage | $ | — | $ | — | $ | — | |||||||||||||||||||||
Unproved acreage | 15,843 | 6,305 | 22,148 | ||||||||||||||||||||||||
Development costs | 49,299 | 17,422 | 66,721 | ||||||||||||||||||||||||
Exploration costs | — | — | — | ||||||||||||||||||||||||
Total | $ | 65,142 | $ | 23,727 | $ | 88,869 | |||||||||||||||||||||
2012 | |||||||||||||||||||||||||||
Proved acreage | $ | — | $ | — | $ | — | |||||||||||||||||||||
Unproved acreage | 23,711 | 5,612 | 29,323 | ||||||||||||||||||||||||
Development costs | 131,926 | 178,808 | 310,734 | ||||||||||||||||||||||||
Exploration costs | 35,244 | 8,304 | 43,548 | ||||||||||||||||||||||||
Total | $ | 190,881 | $ | 192,724 | $ | 383,605 | |||||||||||||||||||||
2011 | |||||||||||||||||||||||||||
Proved acreage | $ | — | $ | — | $ | — | |||||||||||||||||||||
Unproved acreage | 145,099 | — | 145,099 | ||||||||||||||||||||||||
Development costs | 304,373 | 90,361 | 394,734 | ||||||||||||||||||||||||
Exploration costs | 37,673 | 41,338 | 79,011 | ||||||||||||||||||||||||
Total | $ | 487,145 | $ | 131,699 | $ | 618,844 | |||||||||||||||||||||
Results of Operations for Oil and Gas Producing Activities Disclosure [Table Text Block] | ' | ||||||||||||||||||||||||||
Consolidated results of operations, without giving consideration to any tax valuation allowance, from our producing activities for each of the three years ended December 31, 2013, are set forth below: | |||||||||||||||||||||||||||
U.S. | Canada | Consolidated | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||
Natural gas, NGL and oil revenue | $ | 331,964 | $ | 131,527 | $ | 463,491 | |||||||||||||||||||||
Operating expense | 167,425 | 80,475 | 247,900 | ||||||||||||||||||||||||
Depletion expense | 34,995 | 5,362 | 40,357 | ||||||||||||||||||||||||
129,544 | 45,690 | 175,234 | |||||||||||||||||||||||||
Income tax expense | 45,340 | 11,514 | 56,854 | ||||||||||||||||||||||||
Results from producing activities | $ | 84,204 | $ | 34,176 | $ | 118,380 | |||||||||||||||||||||
2012 | |||||||||||||||||||||||||||
Natural gas, NGL and oil revenue | $ | 538,902 | $ | 92,045 | $ | 630,947 | |||||||||||||||||||||
Operating expense | 226,542 | 60,501 | 287,043 | ||||||||||||||||||||||||
Depletion expense | 116,005 | 24,897 | 140,902 | ||||||||||||||||||||||||
Impairment expense | 2,152,128 | 465,935 | 2,618,063 | ||||||||||||||||||||||||
(1,955,773 | ) | (459,288 | ) | (2,415,061 | ) | ||||||||||||||||||||||
Income tax benefit | (684,521 | ) | (114,822 | ) | (799,343 | ) | |||||||||||||||||||||
Results from producing activities | $ | (1,271,252 | ) | $ | (344,466 | ) | $ | (1,615,718 | ) | ||||||||||||||||||
2011 | |||||||||||||||||||||||||||
Natural gas, NGL and oil revenue | $ | 673,041 | $ | 127,502 | $ | 800,543 | |||||||||||||||||||||
Operating expense | 267,890 | 54,770 | 322,660 | ||||||||||||||||||||||||
Depletion expense | 164,493 | 38,228 | 202,721 | ||||||||||||||||||||||||
Impairment expense | — | 49,063 | 49,063 | ||||||||||||||||||||||||
240,658 | (14,559 | ) | 226,099 | ||||||||||||||||||||||||
Income tax expense (benefit) | 84,230 | (4,222 | ) | 80,008 | |||||||||||||||||||||||
Results from producing activities | $ | 156,428 | $ | (10,337 | ) | $ | 146,091 | ||||||||||||||||||||
Schedule of Prices used for Standardized Measure [Table Text Block] | ' | ||||||||||||||||||||||||||
The following representative prices were used in the Standardized Measure and were adjusted by field for appropriate regional differentials: | |||||||||||||||||||||||||||
At December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||
Natural gas – Henry Hub, per MMBtu | $ | 3.67 | $ | 2.76 | $ | 4.12 | |||||||||||||||||||||
Natural gas – AECO, per MMBtu | 2.9 | 2.35 | 3.65 | ||||||||||||||||||||||||
Oil – WTI Cushing, per Bbl | 97.18 | 94.71 | 95.71 | ||||||||||||||||||||||||
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Table Text Block] | ' | ||||||||||||||||||||||||||
The Standardized Measure at December 31, 2013, 2012 and 2011 was as follows: | |||||||||||||||||||||||||||
U.S. | Canada | Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||
Future revenue | $ | 3,825,944 | $ | 656,984 | $ | 4,482,928 | |||||||||||||||||||||
Future production costs | (2,022,977 | ) | (385,776 | ) | (2,408,753 | ) | |||||||||||||||||||||
Future development costs | (212,280 | ) | (79,525 | ) | (291,805 | ) | |||||||||||||||||||||
Future income taxes | (134,418 | ) | 59,294 | (75,124 | ) | ||||||||||||||||||||||
Future net cash flows | 1,456,269 | 250,977 | 1,707,246 | ||||||||||||||||||||||||
10% discount | (801,116 | ) | (83,082 | ) | (884,198 | ) | |||||||||||||||||||||
Standardized measure of discounted future cash flows relating to proved reserves | $ | 655,153 | $ | 167,895 | $ | 823,048 | |||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||
Future revenue | $ | 3,980,643 | $ | 472,539 | $ | 4,453,182 | |||||||||||||||||||||
Future production costs | (2,552,863 | ) | (324,424 | ) | (2,877,287 | ) | |||||||||||||||||||||
Future development costs | (239,532 | ) | (56,354 | ) | (295,886 | ) | |||||||||||||||||||||
Future income taxes | 81,847 | 80,206 | 162,053 | ||||||||||||||||||||||||
Future net cash flows | 1,270,095 | 171,967 | 1,442,062 | ||||||||||||||||||||||||
10% discount | (667,738 | ) | (59,204 | ) | (726,942 | ) | |||||||||||||||||||||
Standardized measure of discounted future cash flows relating to proved reserves | $ | 602,357 | $ | 112,763 | $ | 715,120 | |||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||
Future revenue | $ | 11,647,002 | $ | 1,055,711 | $ | 12,702,713 | |||||||||||||||||||||
Future production costs | (5,496,246 | ) | (463,852 | ) | (5,960,098 | ) | |||||||||||||||||||||
Future development costs | (1,125,641 | ) | (146,658 | ) | (1,272,299 | ) | |||||||||||||||||||||
Future income taxes | (1,229,968 | ) | (44,183 | ) | (1,274,151 | ) | |||||||||||||||||||||
Future net cash flows | 3,795,147 | 401,018 | 4,196,165 | ||||||||||||||||||||||||
10% discount | (2,286,449 | ) | (174,863 | ) | (2,461,312 | ) | |||||||||||||||||||||
Standardized measure of discounted future cash flows relating to proved reserves | $ | 1,508,698 | $ | 226,155 | $ | 1,734,853 | |||||||||||||||||||||
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block] | ' | ||||||||||||||||||||||||||
The primary changes in the Standardized Measure for 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
Sales of oil and gas net of production costs | $ | (147,402 | ) | $ | (149,326 | ) | $ | (477,883 | ) | ||||||||||||||||||
Net changes in economic factors | 326,698 | (1,362,793 | ) | 32,175 | |||||||||||||||||||||||
Extensions and discoveries | 43,328 | 27,003 | 251,635 | ||||||||||||||||||||||||
Development costs incurred | 2,302 | 172,563 | 233,294 | ||||||||||||||||||||||||
Changes in estimated future development costs | 20,766 | 620,127 | (60,642 | ) | |||||||||||||||||||||||
Purchase and sale of reserves, net | (237,409 | ) | (20,529 | ) | — | ||||||||||||||||||||||
Revision of estimates | 121,916 | (1,219,609 | ) | (224,784 | ) | ||||||||||||||||||||||
Accretion of discount | 50,821 | 196,315 | 197,902 | ||||||||||||||||||||||||
Net change in income taxes | (86,667 | ) | 560,485 | 1,404 | |||||||||||||||||||||||
Change in timing and other differences | 13,575 | 156,031 | (4,626 | ) | |||||||||||||||||||||||
Net increase (decrease) | $ | 107,928 | $ | (1,019,733 | ) | $ | (51,525 | ) | |||||||||||||||||||
Nature_Of_Operations_Nature_of
Nature Of Operations Nature of Operations (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Combined Credit Agreements [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Available borrowing under combined credit agreements | $97.60 | ' |
Combined Credit Agreements [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Borrowing capacity | $350 | $850 |
Significant_Accounting_Policie2
Significant Accounting Policies (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
customers | customers | customers | |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Purchasers | 1 | 2 | 2 |
Estimated future net revenue discount rate | 10.00% | ' | ' |
Maximum [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Receivables number of due days | 60 | ' | ' |
Minimum [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Receivables number of due days | 30 | ' | ' |
Purchaser One [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Purchases made by customer percentage | 18.00% | 21.00% | 15.00% |
Purchaser Two [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Purchases made by customer percentage | ' | 15.00% | 11.00% |
Other Property and Equipment [Member] | Maximum [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful lives | '40 years | ' | ' |
Other Property and Equipment [Member] | Minimum [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful lives | '5 years | ' | ' |
Divestitures_Narrative_Details
Divestitures (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2011 | Sep. 30, 2013 | Jun. 30, 2013 | Apr. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 28, 2012 | Dec. 31, 2013 | |
acre | Southern Alberta Basin [Member] | Barnett Shale [Member] | Barnett Shale [Member] | Tokyo Gas [Member] | Tokyo Gas [Member] | Acquisition and Exploration Agreement [Member] | Subsequent Event [Member] | ||
SWEPI LP [Member] | Sandwash Basin [Member] | ||||||||
acre | |||||||||
Acquisitions And Divestitures [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Approximate Gross Acres Eni West Texas Total | 52,500 | ' | ' | ' | ' | ' | ' | ' | ' |
Area of Mutual Interest (AMI) | ' | ' | ' | ' | ' | ' | ' | 850,000 | ' |
Working interest assigned to each party | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' |
Percent ownership of AMI | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' |
Area of AMI owned | ' | ' | ' | ' | ' | ' | ' | 320,000 | ' |
Percentage right to any acquisition in the AMI | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' |
Percentage of ownership interest | 100.00% | ' | ' | ' | 25.00% | ' | ' | ' | ' |
Acquisition cash transactions | ' | $0 | ' | ' | ' | ' | ' | ' | ' |
Equalization Payment Percentage | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' |
Gain on sale of assets | ' | 0 | ' | ' | ' | ' | 339,328,000 | ' | ' |
Eni Funding of West Texas Transaction | 52,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Joint Interest Ownership After Complete Three Phases | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' |
PurchasePricePriorToAdjustments | ' | ' | 46,000,000 | 485,000,000 | ' | ' | ' | ' | ' |
Significant Acquisitions and Disposals, Acquisition Costs or Sale Proceeds | ' | ' | 42,300,000 | ' | 464,000,000 | ' | ' | ' | 90,000,000 |
Significant Acquisitions and Disposals, Gain (Loss) on Sale or Disposal, Pretax | ' | ' | ' | ' | 339,300,000 | ' | ' | ' | ' |
Oil and Gas Property Decrease due to Gain | ' | ' | ' | ' | ' | $110,700,000 | ' | ' | ' |
Derivatives_And_Fair_Value_Mea2
Derivatives And Fair Value Measurements (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 |
Senior notes maturity | ' | ' | '2015 |
Cash received in settlement of hedge | ' | ' | $41.50 |
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | ' | ' | 30.8 |
Interest previously accrued and earned | ' | ' | 10.7 |
Gains and losses from the effective portion of derivative assets and liabilities held in AOCI expected to be reclassified into earnings | 25 | ' | ' |
Reduction of interest expense over the life of a debt instruments | 4.8 | ' | ' |
Gain (Loss) on Discontinuation of Interest Rate Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | 8.3 | ' | ' |
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | $12 | $5.10 | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Natural gas hedges original tenure | '10 years | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | ' | ' | ' |
Unobservable inputs included within the fair value calculation | 4.8 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | ' | ' | ' |
Unobservable inputs included within the fair value calculation | 4 | ' | ' |
Derivatives_And_Fair_Value_Mea3
Derivatives And Fair Value Measurements (Estimated Fair Value Of Derivative Instruments Under Input Levels) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Asset Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Estimated fair value of derivative instruments | $130,880 | $218,637 |
Asset Derivatives [Member] | Fair Value Inputs, Level 2 [Member] | Commodity Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Estimated fair value of derivative instruments | 107,395 | 207,042 |
Asset Derivatives [Member] | Fair Value Inputs, Level 3 [Member] | Commodity Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Estimated fair value of derivative instruments | 23,485 | 11,595 |
Liability Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Estimated fair value of derivative instruments | 3,448 | 17,485 |
Liability Derivatives [Member] | Fair Value Inputs, Level 2 [Member] | Commodity Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Estimated fair value of derivative instruments | 3,448 | 959 |
Liability Derivatives [Member] | Fair Value Inputs, Level 3 [Member] | Commodity Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Estimated fair value of derivative instruments | $0 | $16,526 |
Derivatives_And_Fair_Value_Mea4
Derivatives And Fair Value Measurements (Changes In Level 3 Fair Values) (Details) (Fair Value Inputs, Level 3 [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Balance at beginning of period | ($4,931) | $150,989 |
Unrealized gain on derivatives | -40,398 | 19,451 |
Transfers out of Level 3 | 0 | -180,732 |
Unrealized gains reported in OCI | 0 | -34,302 |
Balance at end of period | 23,485 | -4,931 |
Total gains included in net derivative gains attributable to the change in unrealized gains related to assets still held at the reporting date | 41,909 | 19,451 |
Production Revenue [Member] | ' | ' |
Settlements | 0 | -3,738 |
Derivative gains (losses) [Member] | ' | ' |
Settlements | ($11,982) | ($25,203) |
Derivatives_And_Fair_Value_Mea5
Derivatives And Fair Value Measurements (Swaps For Anticipated Natural Gas and NGL Production) (Details) | 12 Months Ended | |
Dec. 31, 2013 | ||
MMcf | ||
Credit Risk Derivatives, at Fair Value, Net [Abstract] | ' | |
Gas 2014 | 170 | [1] |
NGL 2014 | 4 | [1] |
Anticipated Natural Gas Basis Swap Production For Second Year | 40 | [1] |
Gas 2015 | 150 | |
NGL 2015 | 0 | |
Anticipated Natural Gas Basis Swap Production For Third Year | 0 | |
Gas 2016-2021 | 40 | |
NGL 2016-2021 | 0 | |
Anticipated Natural Gas Basis Swap Production Thereafter | 0 | |
[1] | Our 2014 NGL derivatives end in September. Our natural gas derivatives and AECO to NYMEX natural gas basis swaps are in place for the whole of 2014. |
Derivatives_And_Fair_Value_Mea6
Derivatives And Fair Value Measurements (Net Deferred Hedge Gain in AOCI to be Released into Earnings) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Credit Risk Derivatives, at Fair Value, Net [Abstract] | ' |
2014 | $37,084 |
2015 | 33,191 |
2016 | 13,476 |
2017 | 12,531 |
2018 and thereafter | 41,443 |
Net deferred hedge gain in AOCI to be released into earnings | $137,725 |
Derivatives_And_Fair_Value_Mea7
Derivatives And Fair Value Measurements (Reduction Of Interest Expense Over The Life Of The Debt Instruments) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Credit Risk Derivatives, at Fair Value, Net [Abstract] | ' |
2014 | $2,039 |
2015 | 2,194 |
2016 | 569 |
Reduction of interest expense over the life of the debt instruments, total | $4,802 |
Derivatives_And_Fair_Value_Mea8
Derivatives And Fair Value Measurements (Estimated Fair Value Of Derivative Instruments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Current derivative assets | $57,523 | $113,367 |
Noncurrent derivative assets | 73,357 | 105,270 |
Current derivative liabilities | 3,125 | 0 |
Noncurrent derivative liabilities | 323 | 17,485 |
Asset Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Total derivative assets | 165,378 | 221,001 |
Liability Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Total derivative liabilities | 37,946 | 19,849 |
Not Designated as Hedging Instrument [Member] | Asset Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Current derivative assets | 60,063 | 113,367 |
Noncurrent derivative assets | 105,315 | 107,542 |
Current derivative liabilities | 0 | 0 |
Noncurrent derivative liabilities | 0 | 92 |
Not Designated as Hedging Instrument [Member] | Liability Derivatives [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Current derivative assets | 2,540 | 0 |
Noncurrent derivative assets | 31,958 | 2,272 |
Current derivative liabilities | 3,125 | 0 |
Noncurrent derivative liabilities | $323 | $17,577 |
Derivatives_And_Fair_Value_Mea9
Derivatives And Fair Value Measurements (Carrying Value Of Derivatives) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Settlements in production revenue | $46,931 | $128,161 | $58,125 |
Commodity Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Derivative fair value at period start | ' | 342,799 | ' |
Ineffectiveness reported in net derivative gains | ' | 1,281 | ' |
Unrealized gains reported in OCI | ' | -107,112 | ' |
Derecognition of hedge | ' | -271,288 | ' |
Derivative fair value at end of period | ' | 0 | ' |
Production Revenue [Member] | Commodity Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Settlements in production revenue | ' | -176,084 | ' |
Derivative gains (losses) [Member] | Commodity Hedges [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Settlements in net derivative gains | ' | $3,820 | ' |
Recovered_Sheet1
Derivatives And Fair Value Measurements Derivatives, Investments And Fair Value Measurements (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Fixed Income Securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Held-to-maturity Securities, Fair Value | $29,397 |
Held-to-maturity Securities, Unrecognized Holding Loss | -22 |
Held-to-maturity Securities, Unrecognized Holding Gain | 0 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 29,419 |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Held-to-maturity Securities, Fair Value | 136,926 |
Held-to-maturity Securities, Unrecognized Holding Loss | -25 |
Held-to-maturity Securities, Unrecognized Holding Gain | 27 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 136,924 |
Debt Securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Held-to-maturity Securities, Fair Value | 166,323 |
Held-to-maturity Securities, Unrecognized Holding Loss | -47 |
Held-to-maturity Securities, Unrecognized Holding Gain | 27 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $166,343 |
Accounts_Receivable_Schedule_O
Accounts Receivable (Schedule Of Accounts Receivable) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Receivable, Net [Abstract] | ' | ' |
Accrued production | $34,785 | $49,762 |
Joint interest billings | 15,630 | 10,957 |
Income taxes | 7,931 | 0 |
Canadian value added taxes | 60 | 172 |
NGL hedge settlement accrual | 0 | 3,149 |
Other | 328 | 160 |
Allowance for doubtful accounts | -89 | -51 |
Accounts receivable, net | $58,645 | $64,149 |
Other_Current_Assets_Details
Other Current Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Current Assets [Abstract] | ' | ' |
Inventories | $18,334 | $21,454 |
Deposits | 1,044 | 513 |
Other prepaid expense | 2,968 | 3,079 |
Other current assets | $22,346 | $25,046 |
Investment_In_BBEP_Narrative_D
Investment In BBEP (Narrative) (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Sep. 30, 2011 | |
BBEP [Member] | BBEP [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Gain on sale and disposition of BBEP units | $0 | $0 | $217,893,000 | $217,900,000 | ' |
Weighted Average Carrying Value | ' | ' | ' | $3.51 | ' |
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | -3,904,000 | -57,826,000 | 51,780,000 | ' | 24,000,000 |
Unrealized gains on interest rate swaps | ' | ' | ' | ' | $3,300,000 |
Investment_In_BBEP_Operations_
Investment In BBEP (Operations Statement) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | ||||||||
BBEP [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenue | $114,246 | $153,116 | $175,497 | $118,703 | $223,966 | $118,188 | $194,018 | $172,866 | $561,562 | $709,038 | $943,623 | $425,386 | [1] | |||||||
Operating expense | ' | ' | ' | ' | ' | ' | ' | ' | 436,246 | 3,215,896 | 821,019 | 313,388 | ||||||||
Operating income (loss) | 13,575 | [2] | 60,049 | [3] | 394,894 | [4] | -3,874 | -468,213 | [5] | -576,551 | [6] | -1,153,012 | [7] | -267,985 | [8] | 464,644 | -2,465,761 | 122,604 | 111,998 | |
Interest and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,759 | [9] | |||||||
Income tax (benefit) expense | ' | ' | ' | ' | ' | ' | ' | ' | 14,550 | -295,570 | 57,863 | 1,070 | ||||||||
Noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 183 | ||||||||
Net income (loss) attributable to Quicksilver | ($31,775) | $10,577 | $242,523 | ($59,707) | ($548,499) | [5] | ($790,520) | [6] | ($802,022) | ($211,565) | $161,618 | ($2,352,606) | $90,046 | $69,986 | ||||||
[1] | For the twelve months ended SeptemberB 30, 2011, unrealized gains of $24.0 million on commodity derivatives were recognized. | |||||||||||||||||||
[2] | Operating income for the fourth quarter of 2013 includes a decrease of $5.9 million to correct for immaterial items which pertain to prior 2013 quarters. These items include an adjustment to non-cash expense to settle litigation recognized in the first quarter of 2013 of $3.0 million, non-cash decrease in the gain related to the Tokyo Gas Transaction of $1.7 million arising from a change in the amount of surface real estate conveyed to TGBR, increase in the amortization of deferred financing costs and original issue discount of $0.8 million and strategic transaction fees of $0.5 million arising in the second quarter of 2013. | |||||||||||||||||||
[3] | Operating income for the third quarter of 2013 includes an increase of $8.2 million to correct for immaterial items which pertain to earlier quarters in 2013, comprised of an increase to the gain related to the Tokyo Gas Transaction of $7.8 million arising from a change to the amount of unevaluated properties allocated to TGBR | |||||||||||||||||||
[4] | Operating income for the second quarter of 2013 includes gains of $333.2 million related to the Tokyo Gas Transaction which was subsequently adjusted in later quarters to be a gain of $339.3 million. The period also includes an immaterial correction of $3.6 million for equity-based compensation granted to retirement-eligible employees whose awards required no future service at the time of grant but which expense was being recognized over multiple periods. The impact to the first quarter of 2013 expense was $1.2 million and the impact to 2012 and prior years was $2.4 million. | |||||||||||||||||||
[5] | Operating loss for the fourth quarter of 2012 includes charges for impairment of $451.5 million and $102.8 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $2.9 million impairment charge related to non-oil and gas properties. Net loss includes a valuation allowance for Canada of $61.3 million. | |||||||||||||||||||
[6] | Operating loss for the third quarter of 2012 includes charges for impairment of $479.9 million and $66.3 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $4.9 million impairment charge for other property and equipment in Colorado. Net loss includes a valuation allowance for the U.S. of | |||||||||||||||||||
[7] | Operating loss for the second quarter of 2012 includes charges for impairment of $1,042.7 million and $157.0 million for our U.S. and Canadian oil and gas properties, respectively. | |||||||||||||||||||
[8] | Operating loss for the first quarter of 2012 includes charges for impairment of $178.0 million and $139.9 million for our U.S. and Canadian oil and gas properties, respectively. | |||||||||||||||||||
[9] | The twelve months ended SeptemberB 30, 2011 included $3.3 million for unrealized gains on interest rate swaps. |
Property_Plant_And_Equipment_N
Property, Plant And Equipment (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Percentage drop in Henry Hub price | ' | ' | ' | ' | ' | 33.00% | ' |
Percentage decrease related to NGL prices | ' | ' | ' | ' | ' | 28.00% | ' |
Percentage decrease of AECO stated price | ' | ' | ' | ' | ' | 36.00% | 12.00% |
Impairment expense | ' | ' | ' | ' | $1,863,000 | $2,625,928,000 | $107,059,000 |
Capitalized overhead costs related to exploration and development activities | ' | ' | ' | ' | 13,600,000 | 16,800,000 | 18,300,000 |
Depletion per Mcfe | ' | ' | ' | ' | ' | ' | 1.35 |
Depreciation Expense | ' | ' | ' | ' | 17,100,000 | 18,600,000 | 20,300,000 |
Midstream Assets Texas [Member] | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Additional impairment charges | ' | ' | ' | ' | ' | ' | 58,000,000 |
Horn River Asset [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Estimated years for evaluation of acquisition costs | ' | ' | ' | ' | '9 years | ' | ' |
U.S. [Member] | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Impairment expense | 451,500,000 | 479,900,000 | 1,042,700,000 | 178,000,000 | 1,809,000 | 2,152,665,000 | 0 |
Depletion per Mcfe | ' | ' | ' | ' | 0.51 | 1.14 | ' |
West Texas [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Estimated years for evaluation of acquisition costs | ' | ' | ' | ' | '3 years | ' | ' |
Canada [Member] | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Impairment expense | 102,800,000 | 66,300,000 | 157,000,000 | 139,900,000 | 0 | 465,935,000 | 49,063,000 |
Depletion per Mcfe | ' | ' | ' | ' | $0.14 | $0.83 | ' |
Property_Plant_And_Equipment_S
Property, Plant And Equipment (Schedule Of Property, Plant And Equipment) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Subject to depletion | $5,687,557 | $5,770,913 |
Unevaluated costs of oil and gas properties | 221,605 | 307,267 |
Accumulated depletion | -5,268,719 | -5,297,220 |
Net oil and gas properties | 640,443 | 780,960 |
Pipelines and processing facilities | 347,093 | 375,248 |
General properties | 72,125 | 75,147 |
Accumulated depreciation | -198,856 | -202,297 |
Property, Plant and Equipment, Other, Net | 220,362 | 248,098 |
Property, plant and equipment - net | $860,805 | $1,029,058 |
Property_Plant_And_Equipment_S1
Property, Plant And Equipment (Schedule Of Charges For Impairment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Impairment expense | ' | ' | ' | ' | $1,863,000 | $2,625,928,000 | $107,059,000 |
U.S. [Member] | ' | ' | ' | ' | ' | ' | ' |
Impairment expense | 451,500,000 | 479,900,000 | 1,042,700,000 | 178,000,000 | 1,809,000 | 2,152,665,000 | 0 |
Canada [Member] | ' | ' | ' | ' | ' | ' | ' |
Impairment expense | 102,800,000 | 66,300,000 | 157,000,000 | 139,900,000 | 0 | 465,935,000 | 49,063,000 |
Oil and Gas Properties [Member] | U.S. [Member] | ' | ' | ' | ' | ' | ' | ' |
Impairment expense | ' | ' | ' | ' | 0 | 2,152,128,000 | 0 |
Oil and Gas Properties [Member] | Canada [Member] | ' | ' | ' | ' | ' | ' | ' |
Impairment expense | ' | ' | ' | ' | 0 | 465,935,000 | 49,063,000 |
Midstream Operations [Member] | Other Property and Equipment [Member] | U.S. [Member] | ' | ' | ' | ' | ' | ' | ' |
Impairment expense | ' | ' | ' | ' | 54,000 | 7,328,000 | 57,996,000 |
Exploration and Production Equipment [Member] | Other Property and Equipment [Member] | U.S. [Member] | ' | ' | ' | ' | ' | ' | ' |
Impairment expense | ' | ' | ' | ' | $1,809,000 | $537,000 | $0 |
Property_Plant_And_Equipment_S2
Property, Plant And Equipment (Schedule Of Unevaluated Natural Gas And Oil Properties Not Subject To Depletion) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Total | $221,605 | $307,267 |
Current Year [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total | 12,098 | 53,098 |
Before Current Year [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total | 42,177 | 90,997 |
Before Previous Year [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total | 59,398 | 23,420 |
Prior [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total | 107,932 | 139,752 |
U.S. [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Acquisition costs | 16,497 | 83,059 |
Exploration costs | 378 | 2,883 |
Capitalized interest | 2,467 | 4,093 |
Total | 19,342 | 90,035 |
U.S. [Member] | Current Year [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Acquisition costs | 0 | 6,844 |
Exploration costs | 14 | 2,676 |
Capitalized interest | 1,093 | 4,093 |
Total | 1,107 | 13,613 |
U.S. [Member] | Before Current Year [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Acquisition costs | 3,013 | 42,339 |
Exploration costs | 364 | 207 |
Capitalized interest | 1,374 | 0 |
Total | 4,751 | 42,546 |
U.S. [Member] | Before Previous Year [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Acquisition costs | 13,484 | 1,447 |
Exploration costs | 0 | 0 |
Capitalized interest | 0 | 0 |
Total | 13,484 | 1,447 |
U.S. [Member] | Prior [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Acquisition costs | 0 | 32,429 |
Exploration costs | 0 | 0 |
Capitalized interest | 0 | 0 |
Total | 0 | 32,429 |
Canada [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Acquisition costs | 72,842 | 81,464 |
Exploration costs | 110,295 | 119,864 |
Capitalized interest | 19,126 | 15,904 |
Total | 202,263 | 217,232 |
Canada [Member] | Current Year [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Acquisition costs | 0 | 333 |
Exploration costs | 7,044 | 36,356 |
Capitalized interest | 3,947 | 2,796 |
Total | 10,991 | 39,485 |
Canada [Member] | Before Current Year [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Acquisition costs | 2,956 | 0 |
Exploration costs | 31,746 | 44,837 |
Capitalized interest | 2,724 | 3,614 |
Total | 37,426 | 48,451 |
Canada [Member] | Before Previous Year [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Acquisition costs | 1,300 | 643 |
Exploration costs | 41,092 | 18,500 |
Capitalized interest | 3,522 | 2,830 |
Total | 45,914 | 21,973 |
Canada [Member] | Prior [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Acquisition costs | 68,586 | 80,488 |
Exploration costs | 30,413 | 20,171 |
Capitalized interest | 8,933 | 6,664 |
Total | $107,932 | $107,323 |
Property_Plant_And_Equipment_S3
Property, Plant And Equipment (Schedule Of Unevaluated Property Costs) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Total | $221,605 | $307,267 |
Barnett Shale [Member] | ' | ' |
Total | 0 | 40,716 |
West Texas [Member] | ' | ' |
Total | 19,343 | 49,318 |
Horn River Asset [Member] | ' | ' |
Total | $202,262 | $217,233 |
Other_Assets_Schedule_Of_Other
Other Assets (Schedule Of Other Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Assets, Noncurrent Disclosure [Abstract] | ' | ' |
Deferred financing costs | $84,951 | $59,059 |
Less accumulated amortization | -50,171 | -27,335 |
Net deferred financing costs | 34,780 | 31,724 |
Notes receivable | 6,464 | 7,385 |
Other | 360 | 838 |
Other assets, total | $41,604 | $39,947 |
Accrued_Liabilities_Schedule_O
Accrued Liabilities (Schedule Of Accrued Liabilities) (Details) New (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities [Abstract] | ' | ' |
Interest payable | $38,260 | $67,116 |
Accrued operating expenses | 37,747 | 38,733 |
Prepayments from partners | 425 | 0 |
Revenue payable | 22,589 | 21,013 |
Accrued state income and franchise taxes | 1,080 | 1,183 |
Accrued production and property taxes | 870 | 609 |
Environmental liabilities | 36 | 122 |
Accrued product purchases | 270 | 336 |
Current asset retirement obligations | 433 | 577 |
Other | 1,140 | 971 |
Accrued liabilities, total | $102,850 | $130,660 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | |||||||||||||||||||||||||
Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2008 | Aug. 21, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2009 | Aug. 21, 2013 | Jun. 30, 2009 | Jun. 30, 2013 | Aug. 31, 2009 | Jun. 30, 2013 | Sep. 30, 2009 | Jun. 30, 2013 | Dec. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | |
Senior Secured Second Lien Term Loan [Member] | Senior Secured Second Lien Term Loan [Member] | Combined Credit Agreements [Member] | Combined Credit Agreements [Member] | Canadian Credit Facility [Member] | Senior Secured Second Lien Term Loan [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | Senior Notes Due 2015 [Member] | Senior Notes Due 2015 [Member] | Senior Notes Due 2015 [Member] | Senior Notes Due 2015 [Member] | Combined Credit Agreements [Member] | Senior Notes Due 2016 [Member] | Senior Notes Due 2016 [Member] | Senior Notes Due 2016 [Member] | Senior Notes Due 2016 [Member] | Senior Notes Due 2019 [Member] | Senior Notes Due 2019 [Member] | Senior Notes Due 2019 [Member] | Senior Notes Due Two Thousand Twenty-one [Member] | Senior Subordinated Notes Due 2016 [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Multiple Subsidiaries Set One [Member] | Multiple Subsidiaries Set Two [Member] | CDOR Rate [Member] | CDOR Rate [Member] | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | Canadian Prime Rate [Member] | Canadian Prime Rate [Member] | U S Prime Rate [Member] | U S Prime Rate [Member] | Alternative Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||
Rate | Rate | Rate | Rate | Rate | Rate | Rate | Rate | U S Credit Facility [Member] | Global Letter Of Credit [Member] | Combined Credit Agreements [Member] | U S Credit Facility [Member] | U S Credit Facility [Member] | Maximum [Member] | Minimum [Member] | Senior Secured Second Lien Term Loan [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Senior Secured Second Lien Term Loan [Member] | U S Credit Facility [Member] | Senior Secured Second Lien Term Loan [Member] | |||||||||||||||||||||
Rate | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premium and Tender Premium Paid | $51,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Second Lien Repayment Term Triggering Event Related To Senior Notes Due 2019, Maximum Threshold For Measurement | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interest | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | ' | ' | ' | ' | ' | 3.75% | 2.75% | ' | 5.75% | 3.75% | 2.75% | 2.75% | 1.75% | 2.75% | 1.75% | 4.75% | 1.00% | 5.75% |
Borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | 850,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 280,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Permitted second lien debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 825,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available borrowing under combined credit agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in applicable margin | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Mortgage Properties Requirement | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior secured debt leverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility borrowing base utilization percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 475,000,000 | ' | ' | ' | ' | 600,000,000 | ' | ' | ' | 300,000,000 | ' | ' | ' | 350,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.25% | ' | ' | ' | ' | 11.75% | ' | 11.75% | ' | 9.13% | ' | ' | 11.00% | 7.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, EBITDA to Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consent Fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | 17,428,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense | ' | ' | 251,847,000 | 164,051,000 | 186,024,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Costs Capitalized | ' | ' | -7,700,000 | -18,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Financing Costs | ' | 23,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Issuance Cost | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 625,000,000 | 200,000,000 | ' | ' | ' | 438,000,000 | ' | ' | ' | ' | 590,600,000 | ' | ' | ' | 325,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Long-term Debt | ' | ' | 1,308,382,000 | 310,430,000 | 843,108,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450,700,000 | 2,300,000 | ' | ' | ' | 654,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Issue Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97.00% | 97.00% | 98.66% | ' | ' | ' | ' | 96.72% | ' | 96.72% | ' | 97.61% | ' | ' | 94.93% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of debt | ' | ' | 1,237,352,000 | 467,959,000 | 855,822,000 | ' | ' | ' | ' | ' | ' | 606,300,000 | 194,000,000 | ' | ' | ' | ' | ' | ' | ' | 580,300,000 | ' | ' | ' | 292,800,000 | 308,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Floor on Debt Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | 1.25% | ' | ' | ' | ' | ' | ' | 2.25% | ' | ' |
Long Term Debt Repurchase Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,027.90 | ' | ' | ' | ' | 1,068 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Paid on Repurchased Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.08 | ' | ' | ' | ' | 55.49 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Repurchase Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Tendered | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $425,200,000 | ' | ' | ' | ' | $582,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Schedule_Of_Long
Long-Term Debt (Schedule Of Long-Term Debt Instruments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Debt Instrument [Line Items] | ' | ' |
Combined Credit Agreements | $41,200,000 | ' |
Long-term Debt | 1,984,144,000 | 2,046,418,000 |
Unamortized deferred gain - terminated interest rate swaps | 4,802,000 | 16,788,000 |
Long-term debt | 1,988,946,000 | 2,063,206,000 |
Combined Credit Agreements [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Combined Credit Agreements | 211,200,000 | 388,150,000 |
Senior Notes Due 2015 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior notes | 10,472,000 | 435,851,000 |
Debt Instrument, Unamortized Discount | 30,000 | 2,149,000 |
Senior Notes Due 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior notes | 8,044,000 | 579,795,000 |
Debt Instrument, Unamortized Discount | 105,000 | 10,825,000 |
Senior Notes Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior notes | 293,243,000 | 292,622,000 |
Debt Instrument, Unamortized Discount | 4,757,000 | 5,378,000 |
Senior Notes Due Two Thousand Twenty-one [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior notes | 309,190,000 | 0 |
Debt Instrument, Unamortized Discount | 15,810,000 | 0 |
Senior Subordinated Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Subordinated Long-term Debt, Noncurrent | 350,000,000 | 350,000,000 |
Senior Secured Second Lien Term Loan [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Long-term Debt, Noncurrent | 607,572,000 | 0 |
Debt Instrument, Unamortized Discount | 17,428,000 | 0 |
Secured Second Lien Repayment Term Triggering Event Related To Senior Notes Due 2019, Maximum Threshold For Measurement | 100,000,000 | ' |
Senior Secured Second Lien Term Loan Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Long-term Debt, Noncurrent | 194,423,000 | 0 |
Debt Instrument, Unamortized Discount | 5,577,000 | 0 |
Secured Second Lien Repayment Term Triggering Event Related To Senior Notes Due 2019, Maximum Threshold For Measurement | $100,000,000 | ' |
LongTerm_Debt_LongTerm_Debt_Sc
Long-Term Debt Long-Term Debt (Schedule Of Maturities Of Long-Term Debt) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Instrument [Line Items] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $0 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 10,502 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 569,349 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 1,448,000 |
Combined Credit Agreements [Member] | ' |
Debt Instrument [Line Items] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 211,200 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 0 |
Senior Secured Second Lien Term Loan Due 2019 [Member] | ' |
Debt Instrument [Line Items] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 200,000 |
Senior Secured Second Lien Term Loan [Member] | ' |
Debt Instrument [Line Items] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 625,000 |
Senior Notes Due 2015 [Member] | ' |
Debt Instrument [Line Items] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 10,502 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 0 |
Senior Notes Due 2016 [Member] | ' |
Debt Instrument [Line Items] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 8,149 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 0 |
Senior Notes Due 2019 [Member] | ' |
Debt Instrument [Line Items] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 298,000 |
Senior Notes Due Two Thousand Twenty-one [Member] | ' |
Debt Instrument [Line Items] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 325,000 |
Senior Subordinated Notes Due 2016 [Member] | ' |
Debt Instrument [Line Items] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 350,000 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | $0 |
LongTerm_Debt_Schedule_Of_Outs
Long-Term Debt (Schedule Of Outstanding Debt) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | ||||||||
In Millions, unless otherwise specified | Senior Secured Second Lien Term Loan [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | Canadian Credit Facility [Member] | Combined Credit Agreements [Member] | Combined Credit Agreements [Member] | Multiple Subsidiaries Set One [Member] | Multiple Subsidiaries Set Two [Member] | Maximum [Member] | Senior Subordinated Notes [Member] | First Mortgage [Member] | Second Mortgage [Member] | Second Mortgage [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | CDOR Rate [Member] | CDOR Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | Canadian Prime Rate [Member] | Canadian Prime Rate [Member] | U.S. Prime Rate [Member] | U.S. Prime Rate [Member] | ABR [Member] | 2013 [Member] | 2013 [Member] | 2013 [Member] | 2014 [Member] | 2014 [Member] | 2014 [Member] | 2014 [Member] | 2014 [Member] | 2015 [Member] | 2015 [Member] | 2015 [Member] | 2015 [Member] | Year Twenty Sixteen [Member] | Year Twenty Seventeen [Member] | Year Twenty Nineteen [Member] | Year Twenty Twenty [Member] | Combined Credit Agreements [Member] | Combined Credit Agreements [Member] | |||||||||
U.S. Credit Facility [Member] | U.S. Credit Facility [Member] | U.S. Credit Facility [Member] | Rate | Combined Credit Agreements [Member] | Senior Secured Second Lien Term Loan [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | Senior Notes Due Two Thousand Twenty-one [Member] | Senior Notes Due 2015 [Member] | Senior Notes Due 2016 [Member] | Senior Notes Due 2019 [Member] | Maximum [Member] | Minimum [Member] | U.S. Credit Facility [Member] | Maximum [Member] | Minimum [Member] | Second Mortgage [Member] | Second Mortgage [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Second Mortgage [Member] | Senior Subordinated Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Subordinated Notes [Member] | Second Mortgage [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Second Mortgage [Member] | Second Mortgage [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Maximum [Member] | ||||||||||||||||
Rate | Rate | Rate | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Senior Secured Second Lien Term Loan [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Canadian Credit Facility [Member] | Senior Secured Second Lien Term Loan [Member] | Senior Notes Due 2015 [Member] | Senior Notes Due 2016 [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | Senior Notes Due 2015 [Member] | Senior Notes Due 2016 [Member] | Senior Notes Due 2019 [Member] | Senior Secured Second Lien Term Loan [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | Senior Notes Due 2016 [Member] | Senior Notes Due 2019 [Member] | Senior Notes Due 2019 [Member] | Senior Notes Due 2019 [Member] | Senior Notes Due Two Thousand Twenty-one [Member] | Senior Notes Due Two Thousand Twenty-one [Member] | ||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt Instrument, Reference Rate, Floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | ' | ' | ' | ' | ' | 2.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Current ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Minimum EBITDA to cash interest expense ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Senior secured debt leverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ||||||||
Line of Credit Facility, Current Borrowing Capacity | ' | ' | ' | ' | $350 | $850 | ' | ' | ' | ' | $350 | [1],[2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350 | ' | 625 | 200 | 325 | [2] | 11 | [2] | 8 | [2] | 298 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Scheduled maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Apr-16 | 6-Sep-16 | [3] | 21-Jun-19 | [3] | 21-Jun-19 | [3] | 1-Jul-21 | 1-Aug-15 | 1-Jan-16 | 15-Aug-19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest rate on outstanding borrowings at June 30, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.13% | 3.95% | [3] | 7.00% | 7.00% | 11.00% | 8.25% | 11.75% | 9.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Base interest rate options | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'N/A | 'LIBOR, ABR, CDOR | [4],[5] | 'LIBOR floor of 1.25%; ABR floor of 2.25% | 'LIBOR floor of 1.25% | 'N/A | 'N/A | 'N/A | 'N/A | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Financial covenants | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'N/A | '- Minimum current ratio of 1.0 - Minimum EBITDA to cash interest expense ratio of 1.10 - Maximum senior secured debt leverage ratio of 2.0 | [6] | 'N/A | 'N/A | 'N/A | 'N/A | 'N/A | 'N/A | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Significant restrictive covenants | ' | ' | ' | ' | ' | ' | ' | ' | ' | '- Incurrence of debt - Incurrence of liens -Payment of dividends - Equity purchases - Asset sales - Affiliate transactions | '- Incurrence of debt - Incurrence of liens - Payment of dividends - Equity purchases - Asset sales - Affiliate transactions - Limitations on derivatives and investments | [6] | '- Incurrence of debt - Incurrence of liens and 1st lien cap -Payment of dividends - Equity purchases - Asset sales - Affiliate transactions | '- Incurrence of debt - Incurrence of liens and 1st lien cap -Payment of dividends - Equity purchases - Asset sales - Affiliate transactions | [6] | '- Incurrence of debt - Incurrence of liens -Payment of dividends - Equity purchases - Asset sales - Affiliate transactions | '- Asset sales | [6] | '- Asset sales | [6] | '- Incurrence of debt - Incurrence of liens -Payment of dividends - Equity purchases - Asset sales - Affiliate transactions | [6] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Optional redemption | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'April 1, 2013: 101.188 2014: par | 'Any time | [6] | 'Any time, subject to re-pricing event June 21, 2014: 102 2015: 101 | 'Any time, subject to re-pricing event June 21, 2014: 102 2015: 101 | 'July 1, 2019: 102.000 2020: par | 'August 1, 2013: 101.938 2014: par | [6] | 'July 1, 2013: 105.875 2014: 102.938 2015: par | [6] | 'August 15, 2014: 104.563 2015: 103.042 2016: 101.521 2017: par | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Make-whole redemption | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'N/A | 'N/A | 'N/A | 'N/A | 'Callable prior to July 1, 2019 at make-whole call price of Treasury +50 bps | [6] | 'N/A | 'N/A | 'Callable prior to August 15, 2014 at make-whole call price of Treasury +50 bps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Equity Clawback | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'N/A | 'N/A | 'N/A | 'N/A | 'Redeemable until July 1, 2016 at 111.00%, plus accrued interest for up to 35% | [6] | 'N/A | 'N/A | 'N/A | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Change of control | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Put at 101% of principal plus accrued interest | [6] | 'Event of default | [6] | 'Put at 101% of principal plus accrued interest | [6] | 'Put at 101% of principal plus accrued interest | 'Put at 101% of principal plus accrued interest | 'Put at 101% of principal plus accrued interest | [6] | 'Put at 101% of principal plus accrued interest | [6] | 'Put at 101% of principal plus accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Estimated fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | 341.3 | [7] | 211.2 | 625 | 200 | 354.3 | [7] | 10.6 | [7] | 7.8 | [7] | 298 | [7] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Equity interests | 100.00% | ' | ' | 100.00% | ' | ' | 100.00% | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Secured Second Lien Repayment Term Triggering Event Related To Senior Notes Due 2019, Maximum Threshold For Measurement | ' | $100 | $100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Commitment fee percentage | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.50% | ||||||||
Redemption percentage of par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | ' | ' | ' | ' | ' | 101.19% | ' | 105.88% | 100.00% | 102.00% | 100.00% | 102.94% | 104.56% | 101.00% | ' | 100.00% | 103.04% | 101.52% | 100.00% | 102.00% | 100.00% | ' | ' | ||||||||
Applicable margin in addition to interest rate | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% | 2.75% | 1.00% | 3.75% | 2.75% | ' | ' | 2.75% | 1.75% | 2.75% | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Make-whole redemption treasury plus percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Percentage of principal plus accrued interest for change of control | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | 101.00% | 101.00% | 101.00% | 101.00% | 101.00% | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.94% | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Equity Clawback Redemption Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 111.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
[1] | The principal amount for the Combined Credit Agreements represents the global borrowing base as of DecemberB 31, 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Borrowings under the Amended and Restated U.S. Credit Facility, Second Lien Term Loan and Second Lien Notes due 2019 are guaranteed by certain of Quicksilverbs domestic subsidiaries and are secured (on a first priority basis with respect to the Amended and Restated U.S. Credit Facility and on a second priority basis with respect to the Second Lien Term Loan and the Second Lien Notes due 2019) by 100% of the equity interests of each of Cowtown Pipeline Management, Inc., Cowtown Pipeline Funding, Inc., Cowtown Gas Processing L.P., Cowtown Pipeline L.P., Barnett Shale Operating LLC, Silver Stream Pipeline Company LLC, QPP Parent LLC and QPP Holdings LLC (collectively, the bDomestic Pledged Equityb), 65% of the equity interests of Quicksilver Resources Canada Inc. (bQuicksilver Canadab) and Quicksilver Production Partners Operating Ltd. (with respect to the Amended and Restated U.S. Credit Facility, on a ratable basis with borrowings under the Amended and Restated Canadian Credit Facility) and the majority of Quicksilver's domestic proved oil and gas properties and related assets, (the bDomestic Pledged Propertyb).B Borrowings under the Amended and Restated Canadian Credit Facility are guaranteed by Quicksilver and certain of its domestic subsidiaries and are secured by the Domestic Pledged Equity, the Domestic Pledged Property, 100% of the equity interests of Quicksilver Canada (65% of which is on a ratable basis with the borrowings under the Amended and Restated U.S. Credit Facility) and any Canadian restricted subsidiaries, under the Amended and Restated Canadian Credit Facility, and 65% of the equity interests of Quicksilver Production Partners Operating Ltd. (which is on a ratable basis with the borrowings under the Amended and Restated U.S. Credit Facility) and the majority of Quicksilver Canada's oil and gas properties and related assets. The other debt presented is based upon structural seniority and priority of payment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | The Combined Credit Agreements are required to be repaid 91 days prior to the maturity of the 2015 Senior Notes, the 2016 Senior Notes, the 2016 Senior Subordinated Notes, the Second Lien Term Loan or the Second Lien Notes due 2019, if on the applicable date any amount of such debt remains outstanding. The Second Lien Term Loan and Second Lien Notes due 2019 are required to be repaid (1) 91 days prior to the maturity of the 2019 Senior Notes if more than $100 million of the 2019 Senior Notes remain outstanding and (2) 91 days prior to the maturity of the 2015 Senior Notes, the 2016 Senior Notes or the 2016 Senior Subordinated Notes if on the applicable date the aggregate amount of all such notes remaining outstanding is greater than $100 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Amounts outstanding under the Amended and Restated U.S. Credit Facility bear interest, at our election, at (i) adjusted LIBOR (as defined in the Amended and Restated U.S. Credit Facility) plus an applicable margin between 2.75% and 3.75%, (ii)B ABR (as defined in the Amended and Restated U.S. Credit Facility), which is the greatest of (a)B the prime rate announced by JPMorgan, (b)B the federal funds rate plus 0.50% and (c)B adjusted LIBOR for an interest period of one month plus 1.00%, plus, in each case under scenario, (ii) an applicable margin between 1.75% and 2.75%. We also pay a per annum fee on the LC Exposure (as defined in the Amended and Restated U.S. Credit Facility) of all letters of credit issued under the Amended and Restated U.S. Credit Facility equal to the applicable margin, with respect to Eurodollar loans, and a commitment fee on the unused availability under the Amended and Restated U.S. Credit Facility of 0.50%. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Amounts outstanding under the Amended and Restated Canadian Credit Facility bear interest, at our election, at (i)B the CDOR Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 2.75% and 3.75%, (ii)B the Canadian Prime Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 1.75% and 2.75%, (iii)B the U.S. Prime Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 1.75% and 2.75% and (iv)B adjusted LIBOR (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 2.75% and 3.75%. We pay a per annum fee on the LC Exposure (as defined in the Amended and Restated Canadian Credit Facility) of all letters of credit issued under the Amended and Restated Canadian Credit Facility equal to the applicable margin, with respect to Eurodollar loans, and a commitment fee on the unused availability under the Amended and Restated Canadian Credit Facility of 0.50%. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | The information presented in this table is qualified in all respects by reference to the full text of the covenants, provisions and related definitions contained in the documents governing the various components of our debt. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | The estimated fair value is determined using market quotations based on recent trade activity for fixed rate obligations (bLevel 2b inputs). Our Second Lien Term Loan and Second Lien Notes due 2019 feature variable interest rates and we estimate their fair value by using market quotations based on recent trade activity (bLevel 3b input). We consider our Combined Credit Agreements which have a variable interest rate to have a fair value equal to their carrying value (bLevel 1b input). |
LongTerm_Debt_LongTerm_Debt_Mi
Long-Term Debt Long-Term Debt (Minimum Required Interest Coverage Ratio) (Details) (Details) (Minimum [Member], Combined Credit Agreements [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Fourth Quarter Two Thousand Thirteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 1.1 |
First Quarter Two Thousand Fourteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 1.1 |
Second Quarter Two Thousand Fourteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 1.1 |
Third Quarter Two Thousand Fourteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 1.1 |
Fourth Quarter Two Thousand Fourteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 1.1 |
First Quarter Two Thousand Fifteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 1.1 |
Second Quarter Two Thousand Fifteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 1.15 |
Third Quarter Two Thousand Fifteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 1.15 |
Fourth Quarter Two Thousand Fifteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 1.2 |
First Quarter Two Thousand Sixteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 1.5 |
Second Quarter Two Thousand Sixteen [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest coverage ratio | 2 |
Asset_Retirement_Obligations_E
Asset Retirement Obligations (Estimated Asset Retirement Obligation Activity) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Asset Retirement Obligation [Abstract] | ' | ' |
Beginning asset retirement obligations | $116,526 | $85,822 |
Additional liability incurred | 3,922 | 4,072 |
Change in estimates | -7,582 | -21,080 |
Accretion expense | 5,109 | 4,122 |
Asset retirement costs incurred | 1,560 | 1,846 |
Gain on settlement of liability | -742 | -2,229 |
Asset Retirement Obligations, Dispositions | -21,935 | 0 |
Currency translation adjustment | -3,697 | -1,047 |
Ending asset retirement obligations | 106,689 | 116,526 |
Less current portion | -433 | -577 |
Long-term asset retirement obligation | $106,256 | $115,949 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Rate | Rate | Rate | ||
Federal statutory income tax rate | ' | 35.00% | ' | ' |
State Statutory Rate | ' | 1.00% | 1.00% | 1.00% |
Remaining net operating tax losses | $340,000,000 | $525,000,000 | $340,000,000 | ' |
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | 55,814,000 | 47,883,000 | 55,814,000 | ' |
Net Operating Loss, change in | ' | 185,000,000 | ' | ' |
Tax Valuation Allowance Expense, State | ' | 3,680,000 | 0 | 0 |
U.S. federal valuation allowance expense | ' | -186,713,000 | 533,974,000 | 0 |
Canadian valuation allowance expense | ' | 1,647,000 | 61,325,000 | 0 |
Tax basis in fortune creek, net | ' | 29,000,000 | ' | ' |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | ' | -0.26% | -1.93% | 2.41% |
Valuation Allowance, Amount | 598,980,000 | 417,595,000 | 598,980,000 | 3,700,000 |
Tax benefits recognized | 9,200,000 | 0 | 9,219,000 | ' |
Canada [Member] | ' | ' | ' | ' |
Foreign Statutory Rate, Canada | ' | 25.20% | 25.00% | 25.00% |
Valuation Allowance, Deferred Tax Asset, Change in Amount | ' | -1,600,000 | ' | ' |
UNITED STATES | ' | ' | ' | ' |
Valuation Allowance, Deferred Tax Asset, Change in Amount | ' | $187,000,000 | ' | ' |
Canada [Member] | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | ' | 12.50% | ' | ' |
Minimum [Member] | ' | ' | ' | ' |
Net operating tax losses period | ' | 31-Dec-29 | ' | ' |
Maximum [Member] | ' | ' | ' | ' |
Net operating tax losses period | ' | 31-Dec-33 | ' | ' |
Income_Taxes_Components_Of_Def
Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Property, plant and equipment | $209,134 | $483,771 | ' |
Net operating loss carry-forwards | 183,982 | 109,100 | ' |
Investment in Fortune Creek | 3,763 | 3,763 | ' |
AMT tax credit | 47,883 | 55,814 | ' |
Settlements of interest rate swaps | 1,681 | 5,876 | ' |
Deferred compensation expense | 11,711 | 11,141 | ' |
Deferred Tax Assets, State Taxes | 3,680 | 0 | ' |
Other | 791 | 2,710 | ' |
Deferred tax assets | 462,625 | 672,175 | ' |
Gains from hedging and derivative activities | -44,039 | -73,195 | ' |
Deferred Tax Liabilities, Other | -991 | 0 | ' |
Deferred tax liabilities | -45,030 | -73,195 | ' |
Net deferred tax asset (liability) | 417,595 | 598,980 | ' |
Valuation allowance | -417,595 | -598,980 | -3,700 |
Current deferred income tax liability | 0 | 0 | ' |
Non-current deferred income tax liability | 0 | 0 | ' |
Total deferred tax asset (liability) | $0 | $0 | ' |
Income_Taxes_Components_Of_Inc
Income Taxes (Components Of Income Tax Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income (loss) before income taxes | $176,168 | ($2,648,176) | $147,909 |
UNITED STATES | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 184,034 | -2,142,730 | 146,090 |
Income (loss) before income taxes | 129,544 | -1,955,773 | 240,658 |
Canada [Member] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | -7,866 | -505,446 | 1,819 |
Income (loss) before income taxes | $45,690 | ($459,288) | ($14,559) |
Income_Taxes_Income_Taxes_Comp
Income Taxes Income Taxes (Components Of Income Tax Expense 1) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Current state income tax expense (benefit) | $900 | $1,752 | ($1,706) |
Current U.S. federal income tax expense (benefit) | -7,931 | 0 | -5,565 |
Current Canadian income tax expense | 0 | 0 | 642 |
Total current income tax expense (benefit) | -7,031 | 1,752 | -6,629 |
Deferred state income tax expense (benefit) | -3,680 | 0 | 1,980 |
Tax Valuation Allowance Expense, State | 3,680 | 0 | 0 |
Deferred U.S. federal income tax expense (benefit) | 205,820 | -763,639 | 58,890 |
U.S. federal valuation allowance expense | -186,713 | 533,974 | 0 |
Deferred Canadian income tax expense (benefit) | 827 | -128,982 | 3,622 |
Canadian valuation allowance expense | 1,647 | 61,325 | 0 |
Total deferred income tax expense (benefit) | 21,581 | -297,322 | 64,492 |
Total income tax expense (benefit) | $14,550 | ($295,570) | $57,863 |
Income_Taxes_Statutory_Federal
Income Taxes (Statutory Federal Income Tax Rate) (Details) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | |
Rate | Rate | Rate | |||
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' | ' | ' |
U.S. federal statutory tax rate | 35.00% | 35.00% | 35.00% | 35.00% | 35.00% |
Permanent differences | 4.80% | -0.06% | -0.06% | 1.51% | 1.51% |
State income taxes net of federal deduction | 0.31% | -0.04% | -0.04% | 0.12% | 0.12% |
Canadian income taxes | -0.26% | -1.93% | -1.93% | 2.41% | 2.41% |
Other | -0.15% | 0.67% | 0.67% | 0.08% | 0.08% |
Derivatives deferred in OCI | 12.43% | 0.00% | 0.00% | 0.00% | 0.00% |
Valuation allowance | -43.87% | -22.48% | -22.48% | 0.00% | 0.00% |
Effective income tax rate | 8.26% | 11.16% | 11.16% | 39.12% | 39.12% |
Income_Taxes_Income_Taxes_Unre
Income Taxes Income Taxes (Unrecognized Tax Benefits) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Unrecognized tax benefit, beginning of period | ' | $0 | $9,219 |
Changes | -9,200 | 0 | -9,219 |
Unrecognized tax benefits, end of period | $0 | $0 | $0 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Loss Contingencies [Line Items] | ' | ' | ' |
Other Nonoperating Income (Expense) | ($17,384,000) | $1,108,000 | $219,768,000 |
Surety bonds | 6,600,000 | ' | ' |
Outstanding letters of credit | 41,200,000 | ' | ' |
Accrual for Environmental Loss Contingencies | 36,000 | 122,000 | ' |
Ngtl [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Other Nonoperating Income (Expense) | 12,800,000 | ' | ' |
Tarrant County, Texas [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Litigation Settlement, Expense | $3,300,000 | ' | ' |
Commitments_And_Contingencies_2
Commitments And Contingencies (Summary Of Contractual Obligations) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Contractual Obligations [Line Items] | ' | ' | ' | |
GPT Contracts, 2014 | $86,628,000 | [1] | ' | ' |
GPT Contracts, 2015 | 85,043,000 | [1] | ' | ' |
GPT Contracts, 2016 | 81,803,000 | [1] | ' | ' |
GPT Contracts, 2017 | 78,326,000 | [1] | ' | ' |
GPT Contracts, 2018 | 65,860,000 | [1] | ' | ' |
GPT Contracts, Thereafter | 140,624,000 | [1] | ' | ' |
GPT Contracts, Total | 538,284,000 | [1] | ' | ' |
Drilling Rig Contracts, 2014 | 4,240,000 | [2] | ' | ' |
Drilling Rig Contracts, 2015 | 0 | [2] | ' | ' |
Drilling Rig Contracts, 2016 | 0 | [2] | ' | ' |
Drilling Rig Contracts, 2017 | 0 | [2] | ' | ' |
Drilling Rig Contracts, 2018 | 0 | [2] | ' | ' |
Drilling Rig Contracts, Thereafter | 0 | [2] | ' | ' |
Drilling Rig Contracts, Total | 4,240,000 | [2] | ' | ' |
Operating Leases, 2012 | 3,912,000 | [3] | ' | ' |
Operating Leases, 2013 | 3,994,000 | [3] | ' | ' |
Operating Leases, 2014 | 4,123,000 | [3] | ' | ' |
Operating Leases, 2015 | 4,070,000 | [3] | ' | ' |
Operating Leases, 2016 | 4,043,000 | [3] | ' | ' |
Operating Leases, Thereafter | 12,996,000 | [3] | ' | ' |
Operating Leases, Total | 33,138,000 | [3] | ' | ' |
Purchase Obligations, 2014 | 3,071,000 | [4] | ' | ' |
Purchase Obligations, 2015 | 220,000 | [4] | ' | ' |
Purchase Obligations, 2016 | 0 | [4] | ' | ' |
Purchase Obligations, 2017 | 0 | [4] | ' | ' |
Purchase Obligations, 2018 | 0 | [4] | ' | ' |
Purchase Obligations, Thereafter | 0 | [4] | ' | ' |
Purchase Obligations, Total | 3,291,000 | [4] | ' | ' |
Rent expense for operating leases | 3,600,000 | 4,200,000 | 4,800,000 | |
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals | 2,200,000 | ' | ' | |
Maximum [Member] | ' | ' | ' | |
Contractual Obligations [Line Items] | ' | ' | ' | |
Drilling rig contracts outstanding payment | $20,000 | ' | ' | |
[1] | Under contracts with various third parties, we are obligated to provide minimum daily natural gas volume for gathering, processing, fractionation and transportation, as determined on a monthly basis, or pay for any deficiencies at a specified reservation fee rate. Our gathering and transportation contracts with CMLP have no minimum volume requirement and, therefore, are not reported in the above amounts. | |||
[2] | We lease drilling rigs from third parties for use in our development and exploration programs. The outstanding drilling rig contract requires payment of a specified day rate of $20,000 for the entire lease term regardless of our utilization of the drilling rigs. | |||
[3] | We lease office buildings and other property under operating leases. Rent expense for operating leases with terms exceeding one month was $3.6 million in 2013, $4.2 million in 2012 and $4.8 million in 2011. Minimum payments have not been reduced by minimum sublease rentals of $2.2 million due in the future under noncancelable subleases. | |||
[4] | At DecemberB 31, 2013, we were under contract to purchase goods and services for use in field and gas plant operations. |
Fortune_Creek_Details
Fortune Creek (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
USD ($) | CAD | KKR [Member] | |
acre | USD ($) | ||
in | |||
mi | |||
Y | |||
Area of business, acres | 30,000,000 | 30,000,000 | ' |
Length of gathering line contributed to partnership, miles | ' | ' | 20 |
Diameter of gathering line contributed to partnership, inches | ' | ' | 20 |
Minimum expenditures required for drilling and completion activities | ' | ' | $300,000,000 |
Capital expenditures incurred | ' | ' | 180,000,000 |
Capital Contribution, Fortune Creek | ' | 28,000,000 | ' |
Reduction in Gathering Rate, Fortune Creek | 0.13 | ' | ' |
Dedicated years for gas production | ' | ' | 10 |
Payments to acquire interest in joint venture | ' | ' | $125,000,000 |
Percentage of interest by parent in the partnership | ' | ' | 50.00% |
Quicksilver_Stockholders_Equit2
Quicksilver Stockholders' Equity (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||||||||||
15-May-13 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-09 | Jan. 31, 2008 | Dec. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 15, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2013 | |
Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Stock Option [Member] | Stock Option [Member] | Stock Option [Member] | Affiliated Entity [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Translation Adjustment [Member] | Accumulated Translation Adjustment [Member] | compensation expense correction [Domain] | compensation expense correction [Domain] | compensation expense correction [Domain] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | 400,000,000 | ' | 400,000,000 | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | ' | $0.01 | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Redemption Price Per Share | ' | ' | ' | ' | ' | ' | $10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | ' | 10,000,000 | ' | 10,000,000 | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value | ' | $0.01 | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock outstanding | ' | 177,300,000 | ' | 177,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total intrinsic values of options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8.24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years 61 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost related to outstanding unvested awards | ' | ' | ' | ' | ' | ' | ' | ' | $13,300,000 | ' | ' | $2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition | ' | ' | ' | ' | ' | ' | ' | ' | 'December 2016 | ' | ' | 'August 2016 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 16,800,000 | 15,700,000 | 13,900,000 | 3,900,000 | 7,400,000 | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax benefit recognized related to compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 5,200,000 | 5,200,000 | ' | 1,300,000 | 2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 100,000 | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated grant date fair value | ' | ' | ' | ' | ' | ' | ' | ' | 22,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of RSUs settled in cash | ' | ' | ' | ' | ' | ' | ' | ' | 4,800,000 | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total fair value of shares vested | ' | ' | ' | ' | ' | ' | ' | ' | 7,100,000 | 16,300,000 | 13,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Immaterial Error Correction | ' | '5.9 | '8.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3.6 | '1.2 | '2.4 |
Percentage Of Acquisition By Individual Or Group For Exercisable Of Right To Buy One One Thousandth Of Company Stock By Stockholder | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interest | ' | 100.00% | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' |
Common Stock Redeemable Rate In Case Of Any Acquisition Proposal | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | 15,000,000 | ' | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | ' | ' | ' | '10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | 15,400,000 | ' | 15,400,000 | 9,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ' | $109,881,000 | ' | $109,881,000 | $161,493,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $94,500,000 | $141,400,000 | $15,400,000 | $20,100,000 | ' | ' | ' |
Quicksilver_Stockholders_Equit3
Quicksilver Stockholders' Equity (Common Shares And Treasury Share Activity) (Details) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' |
Common Stock, Shares, Issued | 183,994,879 | 179,015,118 | ' | ' |
Treasury Stock, Shares | 6,698,640 | 5,921,102 | ' | ' |
Common Stock [Member] | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' |
Common Stock, Shares, Issued | 183,994,879,000 | 179,015,118,000 | 176,980,483,000 | 175,524,816,000 |
Stock options exercised | 0 | 1,572,000 | 209,221,000 | ' |
Restricted stock activity | 4,979,761,000 | 2,033,063,000 | 1,246,446,000 | ' |
Treasury Stock [Member] | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' |
Treasury Stock, Shares | 6,698,640,000 | 5,921,102,000 | 5,379,702,000 | 5,050,450,000 |
Stock options exercised | 0 | 0 | 0 | ' |
Restricted stock activity | 777,538,000 | 541,400,000 | 329,252,000 | ' |
Quicksilver_Stockholders_Equit4
Quicksilver Stockholders' Equity (Assumptions For The Black-Scholes Option Pricing Model For Stock Options Issued) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | ' | ' | ' |
Weighted avg grant date fair value | $1.05 | $4.21 | $9.16 |
Weighted avg risk-free interest rate | 1.31% | 1.14% | 2.38% |
Expected life (in years) | '4 years 11 months 9 days | '6 years | '6 years |
Wtd avg volatility | 68.97% | 68.20% | 66.77% |
Expected dividends | 0.00% | 0.00% | 0.00% |
Quicksilver_Stockholders_Equit5
Quicksilver Stockholders' Equity (Stock Option Activity) (Details) (Employee Stock Option [Member], USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Employee Stock Option [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding at January 1, 2013, Shares | 4,979,980 |
Granted, Shares | 2,037,467 |
Exercised, Shares | 0 |
Forfeited, Shares | -85,004 |
Expired, Shares | -160,865 |
Outstanding at December 31, 2013, Shares | 6,771,578 |
Exercisable at December 31, 2013, Shares | 4,576,677 |
Outstanding at January 1, 2013, Wtd Avg Exercise Price | $10.23 |
Granted, Wtd Avg Exercise Price | $1.95 |
Exercised, Wtd Avg Exercise Price | $0 |
Forfeited, Wtd Avg Exercise Price | $6.63 |
Expired, Wtd Avg Exercise Price | $8.86 |
Outstanding at December 31, 2013, Wtd Avg Exercise Price | $7.82 |
Exercisable at December 31, 2013, Wtd Avg Exercise Price | $9.30 |
Outstanding at December 31, 2013, Wtd Avg Remaining Contractual Life, Years | '6 years 146 days |
Exercisable at December 31, 2013, Wtd Avg Remaining Contractual Life, Years | '5 years 98 days |
Outstanding at December 31, 2013, Aggregate Intrinsic Value | $0 |
Exercisable at December 31, 2013, Aggregate Intrinsic Value | $0 |
Quicksilver_Stockholders_Equit6
Quicksilver Stockholders' Equity (Restricted Stock And Stock Unit Activity) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Payable In Shares [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding at January 1, 2013, Shares | 3,099,135 |
Granted, Shares | 6,511,441 |
Vested, Shares | -2,524,332 |
Forfeited, Shares | -1,418,154 |
Outstanding at December 31, 2013, Shares | 5,668,090 |
Outstanding at January 1, 2013, Wtd Avg Grant Date Fair Value | $8.48 |
Granted, Wtd Avg Grant Date Fair Value | $2.76 |
Vested, Wtd Avg Grant Date Fair Value | $6.69 |
Forfeited, Wtd Avg Grant Date Fair Value | $3.68 |
Outstanding at December 31, 2013, Wtd Avg Grant Date Fair Value | $3.90 |
Payable In Cash [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding at January 1, 2013, Shares | 678,217 |
Granted, Shares | 1,483,306 |
Vested, Shares | -284,406 |
Forfeited, Shares | -304,776 |
Outstanding at December 31, 2013, Shares | 1,572,341 |
Outstanding at January 1, 2013, Wtd Avg Grant Date Fair Value | $7.71 |
Granted, Wtd Avg Grant Date Fair Value | $2.81 |
Vested, Wtd Avg Grant Date Fair Value | $8.51 |
Forfeited, Wtd Avg Grant Date Fair Value | $3.86 |
Outstanding at December 31, 2013, Wtd Avg Grant Date Fair Value | $3.69 |
Earnings_Per_Share_Reconciliat
Earnings Per Share (Reconciliation Of Components Used To Compute Basic And Diluted Net Income Per Common Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Net income (loss) attributable to Quicksilver | ($31,775) | $10,577 | $242,523 | ($59,707) | ($548,499) | [1] | ($790,520) | [2] | ($802,022) | ($211,565) | $161,618 | ($2,352,606) | $90,046 | |||
Basic income allocable to participating securities | ' | ' | ' | ' | ' | ' | ' | ' | -4,252 | [3] | 0 | [3] | -1,106 | [3] | ||
Net Income (Loss) Available to Common Stockholders, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | $157,366 | ($2,352,606) | $88,940 | |||||
Weighted average common shares - basic | ' | ' | ' | ' | ' | ' | ' | ' | 171,518,000 | 170,106,000 | 168,993,000 | |||||
Share-based compensation awards | ' | ' | ' | ' | ' | ' | ' | ' | 141,000 | [4] | 0 | [4] | 742,000 | [4] | ||
Weighted average common shares - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 171,659,000 | 170,106,000 | 169,735,000 | |||||
Earnings (loss) per common share - basic | ($0.18) | $0.06 | $1.37 | ($0.35) | ($3.22) | ($4.65) | ($4.72) | ($1.24) | $0.92 | ($13.83) | $0.53 | |||||
Earnings (loss) per common share - diluted | ($0.18) | $0.06 | $1.37 | ($0.35) | ($3.22) | ($4.65) | ($4.72) | ($1.24) | $0.92 | [4] | ($13.83) | [4] | $0.52 | [4] | ||
Convertible Debentures [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Antidilutive shares excluded from the diluted share calculation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,800,000 | |||||
Employee Stock Option [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Antidilutive shares excluded from the diluted share calculation | ' | ' | ' | ' | ' | ' | ' | ' | 5,600,000 | 5,000,000 | 1,900,000 | |||||
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Antidilutive shares excluded from the diluted share calculation | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 300,000 | 100,000 | |||||
[1] | Operating loss for the fourth quarter of 2012 includes charges for impairment of $451.5 million and $102.8 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $2.9 million impairment charge related to non-oil and gas properties. Net loss includes a valuation allowance for Canada of $61.3 million. | |||||||||||||||
[2] | Operating loss for the third quarter of 2012 includes charges for impairment of $479.9 million and $66.3 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $4.9 million impairment charge for other property and equipment in Colorado. Net loss includes a valuation allowance for the U.S. of | |||||||||||||||
[3] | Restricted share awards that contain nonforfeitable rights to dividends are participating securities and, therefore, should be included in computing earnings using the two-class method. Participating securities, however, do not participate in undistributed net losses because there is no contractual obligation to do so. | |||||||||||||||
[4] | For 2013, 5.6 million shares associated with our stock options and 0.2 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. For 2012, 5.0 million shares associated with our stock options and 0.3 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. For 2011, the effects of 9.8 million shares associated with our convertible debentures for the period outstanding were antidilutive, and 1.9 million shares associated with our stock options and 0.1 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information (Schedule Of Condensed Consolidated Balance Sheets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Percentage of ownership interest | 100.00% | ' |
Current assets | $393,960 | $207,513 |
Property, plant and equipment | 860,805 | 1,029,058 |
Investment in subsidiaries (equity method) | 0 | 0 |
Other assets | 114,961 | 145,217 |
Total assets | 1,369,726 | 1,381,788 |
Current liabilities | 134,797 | 167,791 |
Long-term liabilities | 2,240,899 | 2,346,794 |
Stockholders' equity | -1,005,970 | -1,132,797 |
Total liabilities and stockholders' equity | 1,369,726 | 1,381,788 |
Quicksilver Resources Inc. [Member] | ' | ' |
Current assets | 349,586 | 261,130 |
Property, plant and equipment | 455,822 | 621,073 |
Investment in subsidiaries (equity method) | -217,852 | -191,725 |
Other assets | 472,792 | 346,972 |
Total assets | 1,060,348 | 1,037,450 |
Current liabilities | 124,275 | 255,678 |
Long-term liabilities | 1,942,043 | 1,914,568 |
Stockholders' equity | -1,005,970 | -1,132,796 |
Total liabilities and stockholders' equity | 1,060,348 | 1,037,450 |
Restricted Guarantor Subsidiaries [Member] | ' | ' |
Current assets | 10,735 | 105,695 |
Property, plant and equipment | 15,486 | 20,007 |
Investment in subsidiaries (equity method) | 0 | 0 |
Other assets | 0 | 0 |
Total assets | 26,221 | 125,702 |
Current liabilities | 12,210 | 112,133 |
Long-term liabilities | 19,242 | 19,242 |
Stockholders' equity | -5,231 | -5,673 |
Total liabilities and stockholders' equity | 26,221 | 125,702 |
Restricted Non-Guarantor Subsidiaries [Member] | ' | ' |
Current assets | 53,034 | 76,088 |
Property, plant and equipment | 307,865 | 296,462 |
Investment in subsidiaries (equity method) | -33,840 | -42,883 |
Other assets | 32,892 | 41,865 |
Total assets | 359,951 | 371,532 |
Current liabilities | 17,167 | 33,475 |
Long-term liabilities | 542,659 | 524,107 |
Stockholders' equity | -199,875 | -186,050 |
Total liabilities and stockholders' equity | 359,951 | 371,532 |
Restricted Subsidiary Eliminations [Member] | ' | ' |
Current assets | -19,642 | -222,586 |
Property, plant and equipment | 0 | 0 |
Investment in subsidiaries (equity method) | 217,852 | 191,725 |
Other assets | -390,723 | -243,620 |
Total assets | -192,513 | -274,481 |
Current liabilities | -19,642 | -222,586 |
Long-term liabilities | -390,723 | -243,620 |
Stockholders' equity | 217,852 | 191,725 |
Total liabilities and stockholders' equity | -192,513 | -274,481 |
Quicksilver And Restricted Subsidiaries [Member] | ' | ' |
Current assets | 393,713 | 220,327 |
Property, plant and equipment | 779,173 | 937,542 |
Investment in subsidiaries (equity method) | -33,840 | -42,883 |
Other assets | 114,961 | 145,217 |
Total assets | 1,254,007 | 1,260,203 |
Current liabilities | 134,010 | 178,700 |
Long-term liabilities | 2,113,221 | 2,214,297 |
Stockholders' equity | -993,224 | -1,132,794 |
Total liabilities and stockholders' equity | 1,254,007 | 1,260,203 |
Unrestricted Non-Guarantor Subsidiaries [Member] | ' | ' |
Current assets | 909 | 13,250 |
Property, plant and equipment | 0 | 0 |
Investment in subsidiaries (equity method) | -33,840 | -42,905 |
Other assets | 0 | 0 |
Total assets | -32,931 | -29,655 |
Current liabilities | 888 | 13,230 |
Long-term liabilities | 0 | 0 |
Stockholders' equity | -33,819 | -42,885 |
Total liabilities and stockholders' equity | -32,931 | -29,655 |
Fortune Creek [Member] | ' | ' |
Current assets | 1,110 | 391 |
Property, plant and equipment | 81,632 | 91,516 |
Investment in subsidiaries (equity method) | 0 | 0 |
Other assets | 0 | 0 |
Total assets | 82,742 | 91,907 |
Current liabilities | 1,671 | 2,316 |
Long-term liabilities | 1,546 | 1,585 |
Stockholders' equity | 79,525 | 88,006 |
Total liabilities and stockholders' equity | 82,742 | 91,907 |
Consolidating Eliminations [Member] | ' | ' |
Current assets | -1,772 | -26,455 |
Property, plant and equipment | 0 | 0 |
Investment in subsidiaries (equity method) | 67,680 | 85,788 |
Other assets | 0 | 0 |
Total assets | 65,908 | 59,333 |
Current liabilities | -1,772 | -26,455 |
Long-term liabilities | 126,132 | 130,912 |
Stockholders' equity | -58,452 | -45,124 |
Total liabilities and stockholders' equity | $65,908 | $59,333 |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information (Schedule of Condensed Consolidated Statements Of Income (Loss)) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | $561,562 | $709,038 | $943,623 | |||||||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 436,246 | 3,215,896 | 821,019 | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Operating income (loss) | 13,575 | [1] | 60,049 | [2] | 394,894 | [3] | -3,874 | -468,213 | [4] | -576,551 | [5] | -1,153,012 | [6] | -267,985 | [7] | 464,644 | -2,465,761 | 122,604 |
Fortune Creek accretion | ' | ' | ' | ' | ' | ' | ' | ' | -19,245 | -19,472 | 0 | |||||||
Income (loss) from earnings of BBEP | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -8,439 | |||||||
Interest expense and other | ' | ' | ' | ' | ' | ' | ' | ' | -269,231 | -162,943 | -33,744 | |||||||
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -14,550 | 295,570 | -57,863 | |||||||
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 161,618 | -2,352,606 | 90,046 | |||||||
Net income (loss) attributable to Quicksilver | -31,775 | 10,577 | 242,523 | -59,707 | -548,499 | [4] | -790,520 | [5] | -802,022 | -211,565 | 161,618 | -2,352,606 | 90,046 | |||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -51,612 | -53,365 | 67,493 | |||||||
Equity in OCI of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 17,178 | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 110,006 | -2,405,971 | 174,717 | |||||||
Quicksilver Resources Inc. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 416,516 | 611,477 | 778,741 | |||||||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 329,975 | 2,643,690 | 603,582 | |||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -9,896 | -437,510 | -40,725 | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 415,973 | -2,428,626 | 134,434 | |||||||
Fortune Creek accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Income (loss) from earnings of BBEP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8,439 | |||||||
Interest expense and other | ' | ' | ' | ' | ' | ' | ' | ' | -242,279 | -152,077 | -39,252 | |||||||
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -12,076 | 228,097 | 75,201 | |||||||
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 161,618 | -2,352,606 | 90,046 | |||||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -40,166 | -57,273 | 67,493 | |||||||
Equity in OCI of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -11,446 | 3,908 | 17,178 | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 110,006 | -2,405,971 | 174,717 | |||||||
Restricted Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 788 | 4,574 | 4,573 | |||||||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 346 | 4,109 | 64,476 | |||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 442 | 465 | -59,903 | |||||||
Fortune Creek accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Income (loss) from earnings of BBEP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||||||
Interest expense and other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -18 | |||||||
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -163 | -20,960 | |||||||
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 442 | 302 | -38,925 | |||||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Equity in OCI of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 442 | 302 | -38,925 | |||||||
Restricted Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 144,258 | 95,887 | 163,864 | |||||||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 118,481 | 577,696 | 156,516 | |||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -6,682 | -12,747 | 0 | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 19,095 | -494,556 | 7,348 | |||||||
Fortune Creek accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Income (loss) from earnings of BBEP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||||||
Interest expense and other | ' | ' | ' | ' | ' | ' | ' | ' | -26,959 | -10,914 | 5,526 | |||||||
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -2,474 | 67,658 | 3,622 | |||||||
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -10,338 | -437,812 | -1,800 | |||||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -11,446 | 3,908 | 17,178 | |||||||
Equity in OCI of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -21,784 | -433,904 | 15,378 | |||||||
Restricted Subsidiary Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -2,900 | ' | |||||||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -2,900 | ' | |||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 9,896 | 437,510 | ' | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 9,896 | 437,510 | ' | |||||||
Fortune Creek accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Interest expense and other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 9,896 | 437,510 | ' | |||||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Equity in OCI of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 11,446 | -3,908 | ' | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 21,342 | 433,602 | ' | |||||||
Quicksilver And Restricted Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 561,562 | 709,038 | ' | |||||||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 448,802 | 3,222,595 | ' | |||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -6,682 | -12,747 | ' | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 445,406 | -2,485,207 | ' | |||||||
Fortune Creek accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Interest expense and other | ' | ' | ' | ' | ' | ' | ' | ' | -269,238 | -162,991 | ' | |||||||
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -14,550 | 295,592 | ' | |||||||
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 161,618 | -2,352,606 | ' | |||||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -51,612 | -53,365 | ' | |||||||
Equity in OCI of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 110,006 | -2,405,971 | ' | |||||||
Unrestricted Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 12,563 | 6,726 | ' | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 12,563 | 6,726 | ' | |||||||
Fortune Creek accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Interest expense and other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 21 | ' | |||||||
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 12,563 | 6,747 | ' | |||||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Equity in OCI of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 12,563 | 6,747 | ' | |||||||
Fortune Creek [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 22,364 | 14,639 | ' | |||||||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 9,808 | 7,940 | ' | |||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 12,556 | 6,699 | ' | |||||||
Fortune Creek accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Interest expense and other | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 27 | ' | |||||||
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 12,563 | 6,726 | ' | |||||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Equity in OCI of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 12,563 | 6,726 | ' | |||||||
Consolidating Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | -22,364 | -14,639 | -3,555 | |||||||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | -22,364 | -14,639 | -3,555 | |||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -5,881 | 6,021 | 40,725 | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -5,881 | 6,021 | 40,725 | |||||||
Fortune Creek accretion | ' | ' | ' | ' | ' | ' | ' | ' | -19,245 | -19,472 | ' | |||||||
Income (loss) from earnings of BBEP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||||||
Interest expense and other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -22 | 0 | |||||||
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -25,126 | -13,473 | 40,725 | |||||||
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -17,178 | |||||||
Equity in OCI of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -25,126 | -13,473 | 23,547 | |||||||
kwk_CrestwoodLP [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 41,097 | 0 | |||||||
kwk_CrestwoodLP [Member] | Quicksilver Resources Inc. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,097 | ' | |||||||
kwk_CrestwoodLP [Member] | Restricted Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||
kwk_CrestwoodLP [Member] | Restricted Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||
kwk_CrestwoodLP [Member] | Restricted Subsidiary Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||
kwk_CrestwoodLP [Member] | Quicksilver And Restricted Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,097 | ' | |||||||
kwk_CrestwoodLP [Member] | Unrestricted Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||
kwk_CrestwoodLP [Member] | Fortune Creek [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||
kwk_CrestwoodLP [Member] | Consolidating Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||
Tokyo Gas [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | 339,328 | ' | ' | |||||||
Tokyo Gas [Member] | Quicksilver Resources Inc. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | 339,328 | ' | ' | |||||||
Tokyo Gas [Member] | Restricted Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||||
Tokyo Gas [Member] | Restricted Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||||
Tokyo Gas [Member] | Restricted Subsidiary Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||||
Tokyo Gas [Member] | Quicksilver And Restricted Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | 339,328 | ' | ' | |||||||
Tokyo Gas [Member] | Unrestricted Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||||
Tokyo Gas [Member] | Fortune Creek [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||||
Tokyo Gas [Member] | Consolidating Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain on sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | |||||||
[1] | Operating income for the fourth quarter of 2013 includes a decrease of $5.9 million to correct for immaterial items which pertain to prior 2013 quarters. These items include an adjustment to non-cash expense to settle litigation recognized in the first quarter of 2013 of $3.0 million, non-cash decrease in the gain related to the Tokyo Gas Transaction of $1.7 million arising from a change in the amount of surface real estate conveyed to TGBR, increase in the amortization of deferred financing costs and original issue discount of $0.8 million and strategic transaction fees of $0.5 million arising in the second quarter of 2013. | |||||||||||||||||
[2] | Operating income for the third quarter of 2013 includes an increase of $8.2 million to correct for immaterial items which pertain to earlier quarters in 2013, comprised of an increase to the gain related to the Tokyo Gas Transaction of $7.8 million arising from a change to the amount of unevaluated properties allocated to TGBR | |||||||||||||||||
[3] | Operating income for the second quarter of 2013 includes gains of $333.2 million related to the Tokyo Gas Transaction which was subsequently adjusted in later quarters to be a gain of $339.3 million. The period also includes an immaterial correction of $3.6 million for equity-based compensation granted to retirement-eligible employees whose awards required no future service at the time of grant but which expense was being recognized over multiple periods. The impact to the first quarter of 2013 expense was $1.2 million and the impact to 2012 and prior years was $2.4 million. | |||||||||||||||||
[4] | Operating loss for the fourth quarter of 2012 includes charges for impairment of $451.5 million and $102.8 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $2.9 million impairment charge related to non-oil and gas properties. Net loss includes a valuation allowance for Canada of $61.3 million. | |||||||||||||||||
[5] | Operating loss for the third quarter of 2012 includes charges for impairment of $479.9 million and $66.3 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $4.9 million impairment charge for other property and equipment in Colorado. Net loss includes a valuation allowance for the U.S. of | |||||||||||||||||
[6] | Operating loss for the second quarter of 2012 includes charges for impairment of $1,042.7 million and $157.0 million for our U.S. and Canadian oil and gas properties, respectively. | |||||||||||||||||
[7] | Operating loss for the first quarter of 2012 includes charges for impairment of $178.0 million and $139.9 million for our U.S. and Canadian oil and gas properties, respectively. |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information (Schedule of Condensed Consolidated Statements of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Net cash flow provided (used) by operating activities | ($51,700,000) | $227,727,000 | $253,053,000 |
Purchases of property, plant and equipment | -101,288,000 | -485,479,000 | -690,607,000 |
Proceeds from Sale and Maturity of Other Investments | 0 | 0 | 272,965,000 |
Proceeds from Asset Sales | ' | 41,097,000 | ' |
Investment in Fortune Creek | ' | ' | 0 |
Proceeds from sale of properties and equipment | 7,171,000 | 72,725,000 | 4,163,000 |
Purchases of marketable securities | -213,738,000 | 0 | 0 |
Proceeds from Sale and Maturity of Marketable Securities | 47,603,000 | ' | ' |
Net cash used by investing activities | 246,044,000 | -371,657,000 | -413,479,000 |
Issuance of debt | 1,237,352,000 | 467,959,000 | 855,822,000 |
Repayments of debt | -1,308,382,000 | -310,430,000 | -843,108,000 |
Debt issuance costs | -26,296,000 | -3,022,000 | -12,506,000 |
Distribution of Fortune Creek Partnership funds | -14,965,000 | -14,285,000 | 0 |
Intercompany Note | 0 | ' | ' |
Proceeds from exercise of stock options | 0 | 11,000 | 1,299,000 |
Purchase of treasury stock | -1,927,000 | -3,144,000 | -4,864,000 |
Partnership funds received | 0 | 0 | 122,913,000 |
Creation Of Partnership Liability | ' | ' | 0 |
Net cash flow provided (used) by financing activities | -114,218,000 | 137,089,000 | 119,556,000 |
Effect of exchange rates on cash | 4,026,000 | -1,354,000 | -921,000 |
Net increase (decrease) in cash and equivalents | 84,152,000 | -8,195,000 | -41,791,000 |
Cash and cash equivalents at beginning of period | 4,951,000 | 13,146,000 | 54,937,000 |
Cash and cash equivalents at end of period | 89,103,000 | 4,951,000 | 13,146,000 |
Tokyo Gas [Member] | ' | ' | ' |
Proceeds from Asset Sales | 463,999,000 | 0 | 0 |
Synergy [Member] | ' | ' | ' |
Proceeds from Asset Sales | 42,297,000 | 0 | 0 |
Quicksilver Resources Inc. [Member] | ' | ' | ' |
Net cash flow provided (used) by operating activities | -78,565,000 | 163,353,000 | 202,043,000 |
Purchases of property, plant and equipment | -67,263,000 | -231,934,000 | -518,454,000 |
Proceeds from Sale and Maturity of Other Investments | ' | ' | 272,965,000 |
Proceeds from Asset Sales | ' | 41,097,000 | ' |
Investment in Fortune Creek | ' | ' | 0 |
Proceeds from sale of properties and equipment | 7,128,000 | 72,362,000 | 2,959,000 |
Purchases of marketable securities | -213,738,000 | ' | ' |
Proceeds from Sale and Maturity of Marketable Securities | 47,603,000 | ' | ' |
Net cash used by investing activities | 280,026,000 | -118,475,000 | -242,530,000 |
Issuance of debt | 1,215,266,000 | 228,500,000 | 587,500,000 |
Repayments of debt | -1,157,969,000 | -264,018,000 | -588,862,000 |
Debt issuance costs | -26,296,000 | -1,972,000 | -9,160,000 |
Distribution of Fortune Creek Partnership funds | 0 | 0 | ' |
Intercompany Note | -147,103,000 | ' | ' |
Proceeds from exercise of stock options | ' | 11,000 | 1,299,000 |
Purchase of treasury stock | -1,927,000 | -3,144,000 | -4,864,000 |
Partnership funds received | ' | ' | 0 |
Creation Of Partnership Liability | ' | ' | 0 |
Net cash flow provided (used) by financing activities | -118,029,000 | -40,623,000 | -14,087,000 |
Effect of exchange rates on cash | 0 | 0 | 0 |
Net increase (decrease) in cash and equivalents | 83,432,000 | 4,255,000 | -54,574,000 |
Cash and cash equivalents at beginning of period | 4,618,000 | 363,000 | 54,937,000 |
Cash and cash equivalents at end of period | 88,050,000 | 4,618,000 | 363,000 |
Quicksilver Resources Inc. [Member] | Tokyo Gas [Member] | ' | ' | ' |
Proceeds from Asset Sales | 463,999,000 | ' | ' |
Quicksilver Resources Inc. [Member] | Synergy [Member] | ' | ' | ' |
Proceeds from Asset Sales | 42,297,000 | ' | ' |
Restricted Guarantor Subsidiaries [Member] | ' | ' | ' |
Net cash flow provided (used) by operating activities | 0 | 656,000 | 2,225,000 |
Purchases of property, plant and equipment | 0 | -656,000 | -2,225,000 |
Proceeds from Sale and Maturity of Other Investments | ' | ' | 0 |
Proceeds from Asset Sales | ' | 0 | ' |
Investment in Fortune Creek | ' | ' | 0 |
Proceeds from sale of properties and equipment | 0 | 0 | 0 |
Purchases of marketable securities | 0 | ' | ' |
Proceeds from Sale and Maturity of Marketable Securities | 0 | ' | ' |
Net cash used by investing activities | 0 | -656,000 | -2,225,000 |
Issuance of debt | 0 | 0 | 0 |
Repayments of debt | 0 | 0 | 0 |
Debt issuance costs | 0 | 0 | 0 |
Distribution of Fortune Creek Partnership funds | 0 | 0 | ' |
Intercompany Note | 0 | ' | ' |
Proceeds from exercise of stock options | ' | 0 | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Partnership funds received | ' | ' | 0 |
Creation Of Partnership Liability | ' | ' | 0 |
Net cash flow provided (used) by financing activities | 0 | 0 | 0 |
Effect of exchange rates on cash | 0 | 0 | 0 |
Net increase (decrease) in cash and equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 | 0 |
Cash and cash equivalents at end of period | 0 | 0 | 0 |
Restricted Guarantor Subsidiaries [Member] | Tokyo Gas [Member] | ' | ' | ' |
Proceeds from Asset Sales | 0 | ' | ' |
Restricted Guarantor Subsidiaries [Member] | Synergy [Member] | ' | ' | ' |
Proceeds from Asset Sales | 0 | ' | ' |
Restricted Non-Guarantor Subsidiaries [Member] | ' | ' | ' |
Net cash flow provided (used) by operating activities | 16,456,000 | 49,271,000 | 48,785,000 |
Purchases of property, plant and equipment | -33,520,000 | -242,158,000 | -169,928,000 |
Proceeds from Sale and Maturity of Other Investments | ' | ' | 0 |
Proceeds from Asset Sales | ' | 0 | ' |
Investment in Fortune Creek | ' | ' | -12,783,000 |
Proceeds from sale of properties and equipment | 43,000 | 363,000 | 1,204,000 |
Purchases of marketable securities | 0 | ' | ' |
Proceeds from Sale and Maturity of Marketable Securities | 0 | ' | ' |
Net cash used by investing activities | -33,477,000 | -241,795,000 | -181,507,000 |
Issuance of debt | 22,086,000 | 239,459,000 | 268,322,000 |
Repayments of debt | -150,413,000 | -46,412,000 | -254,246,000 |
Debt issuance costs | 0 | -1,050,000 | -3,346,000 |
Distribution of Fortune Creek Partnership funds | 0 | 0 | ' |
Intercompany Note | 147,103,000 | ' | ' |
Proceeds from exercise of stock options | ' | 0 | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Partnership funds received | ' | ' | 0 |
Creation Of Partnership Liability | ' | ' | 122,913,000 |
Net cash flow provided (used) by financing activities | 18,776,000 | 191,997,000 | 133,643,000 |
Effect of exchange rates on cash | -1,755,000 | 527,000 | -921,000 |
Net increase (decrease) in cash and equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 | 0 |
Cash and cash equivalents at end of period | 0 | 0 | 0 |
Restricted Non-Guarantor Subsidiaries [Member] | Tokyo Gas [Member] | ' | ' | ' |
Proceeds from Asset Sales | 0 | ' | ' |
Restricted Non-Guarantor Subsidiaries [Member] | Synergy [Member] | ' | ' | ' |
Proceeds from Asset Sales | 0 | ' | ' |
Quicksilver And Restricted Subsidiaries [Member] | ' | ' | ' |
Net cash flow provided (used) by operating activities | -62,109,000 | 213,280,000 | 253,053,000 |
Purchases of property, plant and equipment | -100,783,000 | -474,748,000 | -690,607,000 |
Proceeds from Sale and Maturity of Other Investments | ' | ' | 272,965,000 |
Proceeds from Asset Sales | ' | 41,097,000 | ' |
Investment in Fortune Creek | ' | ' | -12,783,000 |
Proceeds from sale of properties and equipment | 7,171,000 | 72,725,000 | 4,163,000 |
Purchases of marketable securities | -213,738,000 | ' | ' |
Proceeds from Sale and Maturity of Marketable Securities | 47,603,000 | ' | ' |
Net cash used by investing activities | 246,549,000 | -360,926,000 | -426,262,000 |
Issuance of debt | 1,237,352,000 | 467,959,000 | 855,822,000 |
Repayments of debt | -1,308,382,000 | -310,430,000 | -843,108,000 |
Debt issuance costs | -26,296,000 | -3,022,000 | -12,506,000 |
Distribution of Fortune Creek Partnership funds | 0 | 0 | ' |
Intercompany Note | 0 | ' | ' |
Proceeds from exercise of stock options | ' | 11,000 | 1,299,000 |
Purchase of treasury stock | -1,927,000 | -3,144,000 | -4,864,000 |
Partnership funds received | ' | ' | 0 |
Creation Of Partnership Liability | ' | ' | 122,913,000 |
Net cash flow provided (used) by financing activities | -99,253,000 | 151,374,000 | 119,556,000 |
Effect of exchange rates on cash | -1,755,000 | 527,000 | -921,000 |
Net increase (decrease) in cash and equivalents | 83,432,000 | 4,255,000 | -54,574,000 |
Cash and cash equivalents at beginning of period | 4,618,000 | 363,000 | 54,937,000 |
Cash and cash equivalents at end of period | 88,050,000 | 4,618,000 | 363,000 |
Quicksilver And Restricted Subsidiaries [Member] | Tokyo Gas [Member] | ' | ' | ' |
Proceeds from Asset Sales | 463,999,000 | ' | ' |
Quicksilver And Restricted Subsidiaries [Member] | Synergy [Member] | ' | ' | ' |
Proceeds from Asset Sales | 42,297,000 | ' | ' |
Unrestricted Non-Guarantor Subsidiaries [Member] | ' | ' | ' |
Net cash flow provided (used) by operating activities | 0 | 0 | ' |
Purchases of property, plant and equipment | 0 | 0 | ' |
Proceeds from Asset Sales | ' | 0 | ' |
Proceeds from sale of properties and equipment | 0 | 0 | ' |
Purchases of marketable securities | 0 | ' | ' |
Proceeds from Sale and Maturity of Marketable Securities | 0 | ' | ' |
Net cash used by investing activities | 0 | 0 | ' |
Issuance of debt | 0 | 0 | ' |
Repayments of debt | 0 | 0 | ' |
Debt issuance costs | 0 | 0 | ' |
Distribution of Fortune Creek Partnership funds | 0 | 0 | ' |
Intercompany Note | 0 | ' | ' |
Proceeds from exercise of stock options | ' | 0 | ' |
Purchase of treasury stock | 0 | 0 | ' |
Net cash flow provided (used) by financing activities | 0 | 0 | ' |
Effect of exchange rates on cash | 0 | 0 | ' |
Net increase (decrease) in cash and equivalents | 0 | 0 | ' |
Cash and cash equivalents at beginning of period | 0 | 0 | ' |
Cash and cash equivalents at end of period | 0 | 0 | ' |
Unrestricted Non-Guarantor Subsidiaries [Member] | Tokyo Gas [Member] | ' | ' | ' |
Proceeds from Asset Sales | 0 | ' | ' |
Unrestricted Non-Guarantor Subsidiaries [Member] | Synergy [Member] | ' | ' | ' |
Proceeds from Asset Sales | 0 | ' | ' |
Fortune Creek [Member] | ' | ' | ' |
Net cash flow provided (used) by operating activities | 10,409,000 | 14,447,000 | 0 |
Purchases of property, plant and equipment | -505,000 | -10,731,000 | 0 |
Proceeds from Sale and Maturity of Other Investments | ' | ' | 0 |
Proceeds from Asset Sales | ' | 0 | ' |
Investment in Fortune Creek | ' | ' | 0 |
Proceeds from sale of properties and equipment | 0 | 0 | 0 |
Purchases of marketable securities | 0 | ' | ' |
Proceeds from Sale and Maturity of Marketable Securities | 0 | ' | ' |
Net cash used by investing activities | -505,000 | -10,731,000 | 0 |
Issuance of debt | 0 | 0 | 0 |
Repayments of debt | 0 | 0 | 0 |
Debt issuance costs | 0 | 0 | 0 |
Distribution of Fortune Creek Partnership funds | -14,965,000 | -14,285,000 | ' |
Intercompany Note | 0 | ' | ' |
Proceeds from exercise of stock options | ' | 0 | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Partnership funds received | ' | ' | 135,696,000 |
Creation Of Partnership Liability | ' | ' | -122,913,000 |
Net cash flow provided (used) by financing activities | -14,965,000 | -14,285,000 | 12,783,000 |
Effect of exchange rates on cash | 5,781,000 | -1,881,000 | 0 |
Net increase (decrease) in cash and equivalents | 720,000 | -12,450,000 | 12,783,000 |
Cash and cash equivalents at beginning of period | 333,000 | 12,783,000 | 0 |
Cash and cash equivalents at end of period | 1,053,000 | 333,000 | 12,783,000 |
Fortune Creek [Member] | Tokyo Gas [Member] | ' | ' | ' |
Proceeds from Asset Sales | 0 | ' | ' |
Fortune Creek [Member] | Synergy [Member] | ' | ' | ' |
Proceeds from Asset Sales | 0 | ' | ' |
Consolidation, Eliminations [Member] | ' | ' | ' |
Net cash flow provided (used) by operating activities | ' | ' | 0 |
Purchases of property, plant and equipment | ' | ' | 0 |
Proceeds from Sale and Maturity of Other Investments | ' | ' | 0 |
Investment in Fortune Creek | ' | ' | 12,783,000 |
Proceeds from sale of properties and equipment | ' | ' | 0 |
Net cash used by investing activities | ' | ' | 12,783,000 |
Issuance of debt | ' | ' | 0 |
Repayments of debt | ' | ' | 0 |
Debt issuance costs | ' | ' | 0 |
Proceeds from exercise of stock options | ' | ' | 0 |
Purchase of treasury stock | ' | ' | 0 |
Partnership funds received | ' | ' | -12,783,000 |
Creation Of Partnership Liability | ' | ' | 0 |
Net cash flow provided (used) by financing activities | ' | ' | -12,783,000 |
Effect of exchange rates on cash | ' | ' | 0 |
Net increase (decrease) in cash and equivalents | ' | ' | 0 |
Cash and cash equivalents at beginning of period | ' | ' | 0 |
Cash and cash equivalents at end of period | ' | ' | $0 |
Segment_Information_Operating_
Segment Information (Operating Income And Property And Equipment Costs Incurred) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Number of geographical segments | 2 | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | |||||||
Revenue | $114,246,000 | $153,116,000 | $175,497,000 | $118,703,000 | $223,966,000 | $118,188,000 | $194,018,000 | $172,866,000 | $561,562,000 | $709,038,000 | $943,623,000 | |||||||
Depletion, depreciation and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 62,612,000 | 163,624,000 | 225,763,000 | |||||||
DD&A | ' | ' | ' | ' | ' | ' | ' | ' | 62,612,000 | 163,624,000 | 225,763,000 | |||||||
Impairment expense | ' | ' | ' | ' | ' | ' | ' | ' | 1,863,000 | 2,625,928,000 | 107,059,000 | |||||||
Operating income (loss) | 13,575,000 | [1] | 60,049,000 | [2] | 394,894,000 | [3] | -3,874,000 | -468,213,000 | [4] | -576,551,000 | [5] | -1,153,012,000 | [6] | -267,985,000 | [7] | 464,644,000 | -2,465,761,000 | 122,604,000 |
Property and equipment costs incurred | ' | ' | ' | ' | ' | ' | ' | ' | 98,661,000 | 390,456,000 | 694,479,000 | |||||||
Property, plant and equipment, net | 860,805,000 | ' | ' | ' | 1,029,058,000 | ' | ' | ' | 860,805,000 | 1,029,058,000 | ' | |||||||
Assets | 1,369,726,000 | ' | ' | ' | 1,381,788,000 | ' | ' | ' | 1,369,726,000 | 1,381,788,000 | ' | |||||||
UNITED STATES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 416,462,000 | 598,892,000 | 806,657,000 | |||||||
Depletion, depreciation and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 37,540,000 | 123,370,000 | ' | |||||||
DD&A | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 171,438,000 | |||||||
Impairment expense | ' | ' | ' | ' | 451,500,000 | 479,900,000 | 1,042,700,000 | 178,000,000 | 1,809,000 | 2,152,665,000 | 0 | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 476,610,000 | -1,921,073,000 | 251,495,000 | |||||||
Property and equipment costs incurred | ' | ' | ' | ' | ' | ' | ' | ' | 64,976,000 | 189,997,000 | 487,145,000 | |||||||
Property, plant and equipment, net | 451,840,000 | ' | ' | ' | 614,071,000 | ' | ' | ' | 451,840,000 | 614,071,000 | ' | |||||||
Assets | 895,388,000 | ' | ' | ' | 784,104,000 | ' | ' | ' | 895,388,000 | 784,104,000 | ' | |||||||
Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 141,870,000 | 105,949,000 | 135,948,000 | |||||||
Depletion, depreciation and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 17,508,000 | 32,686,000 | ' | |||||||
DD&A | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,116,000 | |||||||
Impairment expense | ' | ' | ' | ' | 102,800,000 | 66,300,000 | 157,000,000 | 139,900,000 | 0 | 465,935,000 | 49,063,000 | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 32,648,000 | -474,768,000 | 12,914,000 | |||||||
Property and equipment costs incurred | ' | ' | ' | ' | ' | ' | ' | ' | 16,838,000 | 174,867,000 | 131,699,000 | |||||||
Property, plant and equipment, net | 306,423,000 | ' | ' | ' | 294,921,000 | ' | ' | ' | 306,423,000 | 294,921,000 | ' | |||||||
Assets | 359,951,000 | ' | ' | ' | 371,532,000 | ' | ' | ' | 359,951,000 | 371,532,000 | ' | |||||||
Midstream [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 25,594,000 | 21,735,000 | 4,573,000 | |||||||
Depletion, depreciation and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 5,249,000 | 5,182,000 | ' | |||||||
DD&A | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,889,000 | |||||||
Impairment expense | ' | ' | ' | ' | ' | ' | ' | ' | 54,000 | 7,328,000 | 57,996,000 | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 13,008,000 | 8,163,000 | -59,903,000 | |||||||
Property and equipment costs incurred | ' | ' | ' | ' | ' | ' | ' | ' | 7,055,000 | 18,742,000 | 64,119,000 | |||||||
Property, plant and equipment, net | 97,118,000 | ' | ' | ' | 111,523,000 | ' | ' | ' | 97,118,000 | 111,523,000 | ' | |||||||
Assets | 108,963,000 | ' | ' | ' | 217,609,000 | ' | ' | ' | 108,963,000 | 217,609,000 | ' | |||||||
Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Depletion, depreciation and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 2,315,000 | 2,386,000 | ' | |||||||
DD&A | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,320,000 | |||||||
Impairment expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -57,622,000 | -78,083,000 | -81,902,000 | |||||||
Property and equipment costs incurred | ' | ' | ' | ' | ' | ' | ' | ' | 9,792,000 | 6,850,000 | 11,516,000 | |||||||
Property, plant and equipment, net | 5,424,000 | ' | ' | ' | 8,543,000 | ' | ' | ' | 5,424,000 | 8,543,000 | ' | |||||||
Assets | 5,424,000 | ' | ' | ' | 8,543,000 | ' | ' | ' | 5,424,000 | 8,543,000 | ' | |||||||
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | -22,364,000 | -17,538,000 | -3,555,000 | |||||||
Depletion, depreciation and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||
DD&A | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||||||
Impairment expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Property and equipment costs incurred | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||
Property, plant and equipment, net | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | |||||||
Assets | $0 | ' | ' | ' | $0 | ' | ' | ' | $0 | $0 | ' | |||||||
[1] | Operating income for the fourth quarter of 2013 includes a decrease of $5.9 million to correct for immaterial items which pertain to prior 2013 quarters. These items include an adjustment to non-cash expense to settle litigation recognized in the first quarter of 2013 of $3.0 million, non-cash decrease in the gain related to the Tokyo Gas Transaction of $1.7 million arising from a change in the amount of surface real estate conveyed to TGBR, increase in the amortization of deferred financing costs and original issue discount of $0.8 million and strategic transaction fees of $0.5 million arising in the second quarter of 2013. | |||||||||||||||||
[2] | Operating income for the third quarter of 2013 includes an increase of $8.2 million to correct for immaterial items which pertain to earlier quarters in 2013, comprised of an increase to the gain related to the Tokyo Gas Transaction of $7.8 million arising from a change to the amount of unevaluated properties allocated to TGBR | |||||||||||||||||
[3] | Operating income for the second quarter of 2013 includes gains of $333.2 million related to the Tokyo Gas Transaction which was subsequently adjusted in later quarters to be a gain of $339.3 million. The period also includes an immaterial correction of $3.6 million for equity-based compensation granted to retirement-eligible employees whose awards required no future service at the time of grant but which expense was being recognized over multiple periods. The impact to the first quarter of 2013 expense was $1.2 million and the impact to 2012 and prior years was $2.4 million. | |||||||||||||||||
[4] | Operating loss for the fourth quarter of 2012 includes charges for impairment of $451.5 million and $102.8 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $2.9 million impairment charge related to non-oil and gas properties. Net loss includes a valuation allowance for Canada of $61.3 million. | |||||||||||||||||
[5] | Operating loss for the third quarter of 2012 includes charges for impairment of $479.9 million and $66.3 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $4.9 million impairment charge for other property and equipment in Colorado. Net loss includes a valuation allowance for the U.S. of | |||||||||||||||||
[6] | Operating loss for the second quarter of 2012 includes charges for impairment of $1,042.7 million and $157.0 million for our U.S. and Canadian oil and gas properties, respectively. | |||||||||||||||||
[7] | Operating loss for the first quarter of 2012 includes charges for impairment of $178.0 million and $139.9 million for our U.S. and Canadian oil and gas properties, respectively. |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Cash Paid Or Received For Interest And Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplemental Cash Flow Information [Abstract] | ' | ' | ' |
Interest, net of capitalized interest | $254,901 | $154,663 | $170,814 |
Income taxes | ($833) | $20,682 | $4,249 |
Supplemental_Cash_Flow_Informa3
Supplemental Cash Flow Information (Other Significant Noncash Transactions) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Dividends Payable [Line Items] | ' | ' | ' |
Working Capital Related To Capital Expenditures | $10,324 | $10,939 | $107,586 |
Note Receivable Received For Sale Of Land And Building | $0 | $0 | $5,300 |
Employee_Benefits_Details
Employee Benefits (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Employee Benefits [Line Items] | ' | ' | ' |
Age limit for retirement plan | 21 | ' | ' |
Health Care Organization Individual Stop Loss On Health Benefit Plan | $125,000 | ' | ' |
Expenses associated with health benefit plan | 4,000,000 | 5,000,000 | 4,800,000 |
United States Of America [Member] | ' | ' | ' |
Employee Benefits [Line Items] | ' | ' | ' |
Expenses associated with company contributions | 1,800,000 | 2,300,000 | 2,300,000 |
Canada [Member] | ' | ' | ' |
Employee Benefits [Line Items] | ' | ' | ' |
Expenses associated with company contributions | $700,000 | $700,000 | $800,000 |
Transactions_With_Related_Part1
Transactions With Related Parties (Details) (USD $) | Dec. 31, 2013 | Oct. 31, 2011 | Feb. 15, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-13 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-13 | 31-May-13 |
Darden Family [Member] | Darden Family [Member] | Mercury Exploration Company [Member] | Mercury Exploration Company [Member] | Mercury Exploration Company [Member] | Thomas F. Darden [Member] | Rent On Buildings [Member] | Rent On Buildings [Member] | Commissions Paid [Member] | Use Of Airplane [Member] | Use Of Airplane [Member] | Use Of Airplane [Member] | Restricted Stock [Member] | Employee Stock Option [Member] | ||
Darden Family [Member] | Darden Family [Member] | Darden Family [Member] | Darden Family [Member] | Darden Family [Member] | Darden Family [Member] | Thomas F. Darden [Member] | Thomas F. Darden [Member] | ||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interest | 100.00% | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to related parties | ' | ' | ' | ' | ' | ' | ' | $100,000 | $200,000 | $200,000 | $300,000 | $500,000 | $900,000 | ' | ' |
Purchase Price Of The Manufacturing Facility Of An Entity | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction, Revenues from Transactions with Related Party | ' | ' | ' | 100,000 | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Monthly Business Expense Allowance | ' | ' | ' | ' | ' | ' | 12,500 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Bonus Related to Tokyo Gas Transaction | ' | ' | ' | ' | ' | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Granted, Value, Share-based Compensation, Gross | ' | ' | ' | ' | ' | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Unvested Equity Awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 242,724 | 304,407 |
Legal Fee Reimbursement Allowance | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Monthly Consulting Fee | ' | ' | ' | ' | ' | ' | 45,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Bonus Eligibility | ' | ' | ' | ' | ' | ' | $2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_Selected_Quarterl2
Supplemental Selected Quarterly Financial Data (Unaudited) Supplemental Selected Quarterly Financial Data (Schedule Of Quarterly Financial Data - Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |||||||||||
U.S. [Member] | U.S. [Member] | U.S. [Member] | U.S. [Member] | U.S. [Member] | U.S. [Member] | U.S. [Member] | Canada [Member] | Canada [Member] | Canada [Member] | Canada [Member] | Canada [Member] | Canada [Member] | Canada [Member] | Tokyo Gas [Member] | Tokyo Gas [Member] | Tokyo Gas [Member] | Tokyo Gas [Member] | compensation expense correction [Domain] | compensation expense correction [Domain] | compensation expense correction [Domain] | adjustment to Tokyo Gas Transaction [Member] | adjustment to Tokyo Gas Transaction [Member] | expense to settle litigation correction [Member] | amortization of deferred financing costs correction [Member] | strategic transaction fees correction [Member] | ||||||||||||||||||||||
Schedule Of Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Gain on Tokyo Gas Transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $333,200,000 | $339,328,000 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Immaterial Error Correction | '5.9 | '8.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3.6 | '1.2 | '2.4 | '1.7 | '7.8 | '3.0 | '.8 | '.5 | ||||||||||
Operating revenue | 114,246,000 | 153,116,000 | 175,497,000 | 118,703,000 | 223,966,000 | 118,188,000 | 194,018,000 | 172,866,000 | 561,562,000 | 709,038,000 | 943,623,000 | ' | ' | ' | ' | 416,462,000 | 598,892,000 | 806,657,000 | ' | ' | ' | ' | 141,870,000 | 105,949,000 | 135,948,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Operating income | 13,575,000 | [1] | 60,049,000 | [2] | 394,894,000 | [3] | -3,874,000 | -468,213,000 | [4] | -576,551,000 | [5] | -1,153,012,000 | [6] | -267,985,000 | [7] | 464,644,000 | -2,465,761,000 | 122,604,000 | ' | ' | ' | ' | 476,610,000 | -1,921,073,000 | 251,495,000 | ' | ' | ' | ' | 32,648,000 | -474,768,000 | 12,914,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net income | -31,775,000 | 10,577,000 | 242,523,000 | -59,707,000 | -548,499,000 | [4] | -790,520,000 | [5] | -802,022,000 | -211,565,000 | 161,618,000 | -2,352,606,000 | 90,046,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic net earnings per share | ($0.18) | $0.06 | $1.37 | ($0.35) | ($3.22) | ($4.65) | ($4.72) | ($1.24) | $0.92 | ($13.83) | $0.53 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Diluted net earnings per share | ($0.18) | $0.06 | $1.37 | ($0.35) | ($3.22) | ($4.65) | ($4.72) | ($1.24) | $0.92 | [8] | ($13.83) | [8] | $0.52 | [8] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Impairment expense | ' | ' | ' | ' | ' | ' | ' | ' | 1,863,000 | 2,625,928,000 | 107,059,000 | 451,500,000 | 479,900,000 | 1,042,700,000 | 178,000,000 | 1,809,000 | 2,152,665,000 | 0 | 102,800,000 | 66,300,000 | 157,000,000 | 139,900,000 | 0 | 465,935,000 | 49,063,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Other asset impairment charges | ' | ' | ' | ' | 2,900,000 | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Tax Valuation Allowance Expense, Federal | ' | ' | ' | ' | ' | ' | ' | ' | ($186,713,000) | $533,974,000 | $0 | ' | $359,900,000 | ' | ' | ' | ' | ' | $61,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
[1] | Operating income for the fourth quarter of 2013 includes a decrease of $5.9 million to correct for immaterial items which pertain to prior 2013 quarters. These items include an adjustment to non-cash expense to settle litigation recognized in the first quarter of 2013 of $3.0 million, non-cash decrease in the gain related to the Tokyo Gas Transaction of $1.7 million arising from a change in the amount of surface real estate conveyed to TGBR, increase in the amortization of deferred financing costs and original issue discount of $0.8 million and strategic transaction fees of $0.5 million arising in the second quarter of 2013. | ||||||||||||||||||||||||||||||||||||||||||||||
[2] | Operating income for the third quarter of 2013 includes an increase of $8.2 million to correct for immaterial items which pertain to earlier quarters in 2013, comprised of an increase to the gain related to the Tokyo Gas Transaction of $7.8 million arising from a change to the amount of unevaluated properties allocated to TGBR | ||||||||||||||||||||||||||||||||||||||||||||||
[3] | Operating income for the second quarter of 2013 includes gains of $333.2 million related to the Tokyo Gas Transaction which was subsequently adjusted in later quarters to be a gain of $339.3 million. The period also includes an immaterial correction of $3.6 million for equity-based compensation granted to retirement-eligible employees whose awards required no future service at the time of grant but which expense was being recognized over multiple periods. The impact to the first quarter of 2013 expense was $1.2 million and the impact to 2012 and prior years was $2.4 million. | ||||||||||||||||||||||||||||||||||||||||||||||
[4] | Operating loss for the fourth quarter of 2012 includes charges for impairment of $451.5 million and $102.8 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $2.9 million impairment charge related to non-oil and gas properties. Net loss includes a valuation allowance for Canada of $61.3 million. | ||||||||||||||||||||||||||||||||||||||||||||||
[5] | Operating loss for the third quarter of 2012 includes charges for impairment of $479.9 million and $66.3 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $4.9 million impairment charge for other property and equipment in Colorado. Net loss includes a valuation allowance for the U.S. of | ||||||||||||||||||||||||||||||||||||||||||||||
[6] | Operating loss for the second quarter of 2012 includes charges for impairment of $1,042.7 million and $157.0 million for our U.S. and Canadian oil and gas properties, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
[7] | Operating loss for the first quarter of 2012 includes charges for impairment of $178.0 million and $139.9 million for our U.S. and Canadian oil and gas properties, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
[8] | For 2013, 5.6 million shares associated with our stock options and 0.2 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. For 2012, 5.0 million shares associated with our stock options and 0.3 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. For 2011, the effects of 9.8 million shares associated with our convertible debentures for the period outstanding were antidilutive, and 1.9 million shares associated with our stock options and 0.1 million shares associated with our unvested restricted stock units were antidilutive and, therefore, excluded from the diluted share calculations. |
Supplemental_Oil_and_Gas_Infor2
Supplemental Oil and Gas Information (Unaudited) Reserve Rollforward (Details) | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Mcf | Mcf | Mcf | ||||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Revisions, Removal of Proved Undeveloped Reserves not Developed | 76 | 250 | ' | |||
Percentage of ownership interest | 100.00% | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Revisions, Changes in Performance | 74 | 291 | ' | |||
U.S. [Member] | Proved Developed [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves, Extensions, Discoveries, and Additions, Percent | ' | 13.00% | ' | |||
U.S. [Member] | Natural Gas [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Proved Reserves, Beginning of Period | 848,048 | 1,828,904 | 1,941,723 | |||
Revisions | 234,835 | [1] | -910,386 | [1] | -172,643 | [1] |
Extensions and discoveries | 50,992 | [2] | 25,858 | [2] | 155,662 | [2] |
Sales in place | -257,741 | [3] | -20,616 | [4] | ' | |
Production | -51,684 | -75,712 | -95,838 | |||
Proved Reserves, End of Period | 824,450 | 848,048 | 1,828,904 | |||
Proved Developed Reserves (Volume) | 702,147 | 725,361 | 1,244,187 | |||
Proved Undeveloped Reserve (Volume) | 122,303 | 122,687 | 584,717 | |||
U.S. [Member] | NGL [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Proved Reserves, Beginning of Period | 56,173 | 102,145 | 112,444 | |||
Revisions | 750 | [1] | -45,379 | [1] | -8,519 | [1] |
Extensions and discoveries | 0 | [2] | 3,518 | [2] | 2,652 | [2] |
Sales in place | -14,333 | [3] | -42 | [4] | ' | |
Production | -2,856 | -4,069 | -4,432 | |||
Proved Reserves, End of Period | 39,734 | 56,173 | 102,145 | |||
Proved Developed Reserves (Volume) | 34,603 | 47,284 | 60,902 | |||
Proved Undeveloped Reserve (Volume) | 5,131 | 8,890 | 41,243 | |||
U.S. [Member] | Oil [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Proved Reserves, Beginning of Period | 2,529 | 3,035 | 3,308 | |||
Revisions | 62 | [1] | -479 | [1] | -43 | [1] |
Extensions and discoveries | 0 | [2] | 345 | [2] | 43 | [2] |
Sales in place | -2,207 | [3] | -85 | [4] | ' | |
Production | -185 | -287 | -273 | |||
Proved Reserves, End of Period | 199 | 2,529 | 3,035 | |||
Proved Developed Reserves (Volume) | 139 | 2,416 | 2,545 | |||
Proved Undeveloped Reserve (Volume) | 60 | 113 | 490 | |||
Canada [Member] | Natural Gas [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Proved Reserves, Beginning of Period | 266,783 | 330,631 | 265,888 | |||
Revisions | 28,648 | [1] | -33,945 | [1] | 15,066 | [1] |
Extensions and discoveries | 9,697 | [2] | 9 | [2] | 76,067 | [2] |
Sales in place | 0 | [3] | 0 | [4] | ' | |
Production | -39,372 | -29,912 | -26,390 | |||
Proved Reserves, End of Period | 265,756 | 266,783 | 330,631 | |||
Proved Developed Reserves (Volume) | 260,159 | 266,783 | 299,371 | |||
Proved Undeveloped Reserve (Volume) | 5,896 | 0 | 31,260 | |||
Canada [Member] | NGL [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Proved Reserves, Beginning of Period | 10 | 11 | 12 | |||
Revisions | 0 | [1] | 1 | [1] | 1 | [1] |
Extensions and discoveries | 0 | [2] | 0 | [2] | 0 | [2] |
Sales in place | 0 | [3] | 0 | [4] | ' | |
Production | -1 | -2 | -2 | |||
Proved Reserves, End of Period | 9 | 10 | 11 | |||
Proved Developed Reserves (Volume) | 9 | 10 | 11 | |||
Proved Undeveloped Reserve (Volume) | 0 | 0 | 0 | |||
Canada [Member] | Oil [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Proved Reserves, Beginning of Period | 0 | 0 | 0 | |||
Revisions | 0 | [1] | 0 | [1] | 0 | [1] |
Extensions and discoveries | 0 | [2] | 0 | [2] | 0 | [2] |
Sales in place | 0 | [3] | 0 | [4] | ' | |
Production | 0 | 0 | 0 | |||
Proved Reserves, End of Period | 0 | 0 | 0 | |||
Proved Developed Reserves (Volume) | 0 | 0 | 0 | |||
Proved Undeveloped Reserve (Volume) | 0 | 0 | 0 | |||
Consolidated [Member] | Natural Gas [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Proved Reserves, Beginning of Period | 1,114,831 | 2,159,535 | 2,207,611 | |||
Revisions | 263,483 | [1] | -944,331 | [1] | -157,577 | [1] |
Extensions and discoveries | 60,689 | [2] | 25,867 | [2] | 231,729 | [2] |
Sales in place | -257,741 | [3] | -20,616 | [4] | ' | |
Production | -91,056 | -105,624 | -122,228 | |||
Proved Reserves, End of Period | 1,090,206 | 1,114,831 | 2,159,535 | |||
Proved Developed Reserves (Volume) | 962,306 | 992,144 | 1,543,558 | |||
Proved Undeveloped Reserve (Volume) | 128,199 | 122,687 | 615,977 | |||
Consolidated [Member] | NGL [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Proved Reserves, Beginning of Period | 56,183 | 102,156 | 112,456 | |||
Revisions | 750 | [1] | -45,378 | [1] | -8,518 | [1] |
Extensions and discoveries | 0 | [2] | 3,518 | [2] | 2,652 | [2] |
Sales in place | -14,333 | [3] | -42 | [4] | ' | |
Production | -2,857 | -4,071 | -4,434 | |||
Proved Reserves, End of Period | 39,743 | 56,183 | 102,156 | |||
Proved Developed Reserves (Volume) | 34,612 | 47,294 | 60,913 | |||
Proved Undeveloped Reserve (Volume) | 5,131 | 8,890 | 41,243 | |||
Consolidated [Member] | Oil [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Proved Reserves, Beginning of Period | 2,529 | 3,035 | 3,308 | |||
Revisions | 62 | [1] | -479 | [1] | -43 | [1] |
Extensions and discoveries | 0 | [2] | 345 | [2] | 43 | [2] |
Sales in place | -2,207 | [3] | -85 | [4] | ' | |
Production | -185 | -287 | -273 | |||
Proved Reserves, End of Period | 199 | 2,529 | 3,035 | |||
Proved Developed Reserves (Volume) | 139 | 2,416 | 2,545 | |||
Proved Undeveloped Reserve (Volume) | 60 | 113 | 490 | |||
Changes in Non-Economic Factors [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Revisions | -151,615 | -629,407 | -154,405 | |||
Changes in Economic Factors [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Revisions | 419,972 | -590,064 | -54,539 | |||
Barnett Shale [Member] | U.S. [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves, Extensions, Discoveries, and Additions, Percent | ' | 96.00% | 100.00% | |||
Barnett Shale [Member] | U.S. [Member] | Proved Developed [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves, Extensions, Discoveries, and Additions, Percent | ' | ' | 11.00% | |||
Niobrara and West Texas Assets [Member] | U.S. [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves, Extensions, Discoveries, and Additions, Percent | ' | 4.00% | ' | |||
Tokyo Gas [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Sales in place | 337 | ' | ' | |||
Synergy [Member] | ' | ' | ' | |||
Change in Proved Developed and Undeveloped Reserves [Roll Forward] | ' | ' | ' | |||
Sales in place | 15 | ' | ' | |||
[1] | Revisions for each period presented reflect upward (downward) changes in previous estimates attributable to changes in economic factors of 419,972B MMcfe, (590,064) MMcfe and (54,539) MMcfe in 2013, 2012 and 2011, respectively, and changes in non-economic factors of (151,615)B MMcfe, (629,407)B MMcfe and (154,405) MMcfe in 2013, 2012 and 2011, respectively, including:b"Removal of proved undeveloped reserves that had not been developed within five years: (76) Bcfe and (250) Bcfe in 2013 and 2012, respectively;b"changes in performance related to offsetting activities, higher pipeline pressures and other factors: (74) Bcfe and (291) Bcfe in 2013 and 2012, respectively andb"revision of type curve of non producing wells based on comparison to producing analogs: (88) Bcfe in 2012. | |||||
[2] | Extensions and discoveries for each period presented represent extensions to reserves attributable to additional drilling activity subsequent to discovery. U.S. extensions and discoveries for:b"2013 are attributable to our Barnett Shale Asset;b"2012 are 96% attributable to our Barnett Shale Asset, 4% to our Niobrara and West Texas Assets (of which 13% were proved developed); andb"2011 are 100% attributable to our Barnett Shale Asset (of which 11% were proved developed).Canadian extensions and discoveries for:b"2013 and 2012 are attributable to our Horseshoe Canyon Asset; andb"2011 are 97% attributable to our Horn River Asset and 3% are attributable to our Horseshoe Canyon Asset | |||||
[3] | Sales of reserves in place during 2013 relate to the Tokyo Gas Transaction (337 Bcfe) and the Synergy Transaction (15 Bcfe). | |||||
[4] | Sales of reserves in place during 2012 relate to our agreement to allow an outside working interest owner to fund the completion costs for twelve wells in our Barnett Shale Asset for which they received a preferential right to reserves. It also includes a minimal sale of reserves in our Niobrara Asset to SWEPI. |
Supplemental_Oil_and_Gas_Infor3
Supplemental Oil and Gas Information (Unaudited) Net Carrying Value of Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items] | ' | ' | ' |
Accumulated DD&A | ($5,268,719) | ($5,297,220) | ' |
Net oil and gas properties | 640,443 | 780,960 | ' |
U.S. [Member] | ' | ' | ' |
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items] | ' | ' | ' |
Proved properties | 4,645,777 | 4,681,860 | 4,380,745 |
Unevaluated properties | 19,343 | 90,035 | 252,737 |
Accumulated DD&A | -4,268,387 | -4,233,391 | -1,965,258 |
Net oil and gas properties | 396,733 | 538,504 | 2,668,224 |
Canada [Member] | ' | ' | ' |
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items] | ' | ' | ' |
Proved properties | 1,041,780 | 1,089,053 | 928,585 |
Unevaluated properties | 202,262 | 217,232 | 180,604 |
Accumulated DD&A | -1,000,332 | -1,063,829 | -550,937 |
Net oil and gas properties | 243,710 | 242,456 | 558,252 |
Consolidated [Member] | ' | ' | ' |
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items] | ' | ' | ' |
Proved properties | 5,687,557 | 5,770,913 | 5,309,330 |
Unevaluated properties | 221,605 | 307,267 | 433,341 |
Accumulated DD&A | -5,268,719 | -5,297,220 | -2,516,195 |
Net oil and gas properties | $640,443 | $780,960 | $3,226,476 |
Supplemental_Oil_and_Gas_Infor4
Supplemental Oil and Gas Information (Unaudited) Captial Costs Incurred For Acquisition, Exploration and Development Activities (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ' | ' | ' |
Asset retirement costs | $1,560 | $1,846 | ' |
U.S. [Member] | ' | ' | ' |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ' | ' | ' |
Proved acreage | 0 | 0 | 0 |
Unproved acreage | 15,843 | 23,711 | 145,099 |
Development costs | 49,299 | 131,926 | 304,373 |
Exploration costs | 0 | 35,244 | 37,673 |
Total | 65,142 | 190,881 | 487,145 |
Canada [Member] | ' | ' | ' |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ' | ' | ' |
Proved acreage | 0 | 0 | 0 |
Unproved acreage | 6,305 | 5,612 | 0 |
Development costs | 17,422 | 178,808 | 90,361 |
Exploration costs | 0 | 8,304 | 41,338 |
Total | 23,727 | 192,724 | 131,699 |
Consolidated [Member] | ' | ' | ' |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ' | ' | ' |
Proved acreage | 0 | 0 | 0 |
Unproved acreage | 22,148 | 29,323 | 145,099 |
Development costs | 66,721 | 310,734 | 394,734 |
Exploration costs | 0 | 43,548 | 79,011 |
Total | $88,869 | $383,605 | $618,844 |
Supplemental_Oil_and_Gas_Infor5
Supplemental Oil and Gas Information (Unaudited) Results from Producing Activities (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items] | ' | ' | ' |
Income (loss) before income taxes | $176,168 | ($2,648,176) | $147,909 |
U.S. [Member] | ' | ' | ' |
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items] | ' | ' | ' |
Natural gas, NGL and oil revenue | 331,964 | 538,902 | 673,041 |
Operating expense | 167,425 | 226,542 | 267,890 |
Depletion expense | 34,995 | 116,005 | 164,493 |
Impairment expense | ' | 2,152,128 | 0 |
Income (loss) before income taxes | 129,544 | -1,955,773 | 240,658 |
Income tax expense (benefit) | 45,340 | -684,521 | 84,230 |
Results of midstream operations, net of income tax | 84,204 | -1,271,252 | 156,428 |
Canada [Member] | ' | ' | ' |
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items] | ' | ' | ' |
Natural gas, NGL and oil revenue | 131,527 | 92,045 | 127,502 |
Operating expense | 80,475 | 60,501 | 54,770 |
Depletion expense | 5,362 | 24,897 | 38,228 |
Impairment expense | ' | 465,935 | 49,063 |
Income (loss) before income taxes | 45,690 | -459,288 | -14,559 |
Income tax expense (benefit) | 11,514 | -114,822 | -4,222 |
Results of midstream operations, net of income tax | 34,176 | -344,466 | -10,337 |
Consolidated [Member] | ' | ' | ' |
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items] | ' | ' | ' |
Natural gas, NGL and oil revenue | 463,491 | 630,947 | 800,543 |
Operating expense | 247,900 | 287,043 | 322,660 |
Depletion expense | 40,357 | 140,902 | 202,721 |
Impairment expense | ' | 2,618,063 | 49,063 |
Income (loss) before income taxes | 175,234 | -2,415,061 | 226,099 |
Income tax expense (benefit) | 56,854 | -799,343 | 80,008 |
Results of midstream operations, net of income tax | $118,380 | ($1,615,718) | $146,091 |
Supplemental_Oil_and_Gas_Infor6
Supplemental Oil and Gas Information (Unaudited) Prices used for Standardized Measure (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Natural Gas [Member] | Henry Hub [Member] | ' | ' | ' |
Supplemental Oil and Gas Information [Line Items] | ' | ' | ' |
Representative prices | 3.67 | 2.76 | 4.12 |
Natural Gas [Member] | AECO [Member] | ' | ' | ' |
Supplemental Oil and Gas Information [Line Items] | ' | ' | ' |
Representative prices | 2.9 | 2.35 | 3.65 |
Oil [Member] | WTI Cushing [Member] | ' | ' | ' |
Supplemental Oil and Gas Information [Line Items] | ' | ' | ' |
Representative prices | 97.18 | 94.71 | 95.71 |
Supplemental_Oil_and_Gas_Infor7
Supplemental Oil and Gas Information (Unaudited) Discounted Future Cash Flows of Proved Reserves (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
U.S. [Member] | ' | ' | ' |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ' | ' | ' |
Future revenue | $3,825,944 | $3,980,643 | $11,647,002 |
Future production costs | -2,022,977 | -2,552,863 | -5,496,246 |
Future development costs | -212,280 | -239,532 | -1,125,641 |
Future income taxes | -134,418 | 81,847 | -1,229,968 |
Future net cash flows | 1,456,269 | 1,270,095 | 3,795,147 |
10% discount | -801,116 | -667,738 | -2,286,449 |
Standardized measure of discounted future cash flows relating to proved reserves | 655,153 | 602,357 | 1,508,698 |
Canada [Member] | ' | ' | ' |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ' | ' | ' |
Future revenue | 656,984 | 472,539 | 1,055,711 |
Future production costs | -385,776 | -324,424 | -463,852 |
Future development costs | -79,525 | -56,354 | -146,658 |
Future income taxes | 59,294 | 80,206 | -44,183 |
Future net cash flows | 250,977 | 171,967 | 401,018 |
10% discount | -83,082 | -59,204 | -174,863 |
Standardized measure of discounted future cash flows relating to proved reserves | 167,895 | 112,763 | 226,155 |
Consolidated [Member] | ' | ' | ' |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ' | ' | ' |
Future revenue | 4,482,928 | 4,453,182 | 12,702,713 |
Future production costs | -2,408,753 | -2,877,287 | -5,960,098 |
Future development costs | -291,805 | -295,886 | -1,272,299 |
Future income taxes | -75,124 | 162,053 | -1,274,151 |
Future net cash flows | 1,707,246 | 1,442,062 | 4,196,165 |
10% discount | -884,198 | -726,942 | -2,461,312 |
Standardized measure of discounted future cash flows relating to proved reserves | $823,048 | $715,120 | $1,734,853 |
Supplemental_Oil_and_Gas_Infor8
Supplemental Oil and Gas Information (Unaudited) Changes in Standardized Measure of Discounted Future Net Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Increase (Decrease) in Standardized Measure of Discounted Future Net Cash Flow Relating to Proved Oil and Gas Reserves [Roll Forward] | ' | ' | ' |
Sales of oil and gas net of production costs | ($147,402) | ($149,326) | ($477,883) |
Net changes in economic factors | 326,698 | -1,362,793 | 32,175 |
Extensions and discoveries | 43,328 | 27,003 | 251,635 |
Development costs incurred | 2,302 | 172,563 | 233,294 |
Changes in estimated future development costs | 20,766 | 620,127 | -60,642 |
Purchase and sale of reserves, net | -237,409 | -20,529 | 0 |
Revision of estimates | 121,916 | -1,219,609 | -224,784 |
Accretion of discount | 50,821 | 196,315 | 197,902 |
Net change in income taxes | -86,667 | 560,485 | 1,404 |
Change in timing and other differences | 13,575 | 156,031 | -4,626 |
Net increase (decrease) | $107,928 | ($1,019,733) | ($51,525) |
Supplemental_Oil_and_Gas_Infor9
Supplemental Oil and Gas Information (Unaudited) Narrative (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
MMcf | MMcf | |||||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Future net cash inflows after income taxes, annual discount rate | 10.00% | ' | ' | |||
Proved undeveloped reserves that had not been developed, Period | '5 years | ' | ' | |||
Removal of proved undeveloped reserves not developed | 76 | 250 | ' | |||
Changes in performance | 74 | 291 | ' | |||
Revision of type curve of non producing wells | ' | 88 | ' | |||
Capital expenditures | $101,288 | $485,479 | $690,607 | |||
Barnett Shale Asset [Member] | U.S. [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Extensions and discoveries, Percent | ' | 96.00% | 100.00% | |||
Niobrara and West Texas Assets [Member] | U.S. [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Extensions and discoveries, Percent | ' | 4.00% | ' | |||
Horn River Asset [Member] | Canada [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Extensions and discoveries, Percent | ' | ' | 97.00% | |||
Horseshoe Canyon Asset [Member] | Canada [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Extensions and discoveries, Percent | ' | ' | 3.00% | |||
Proved Developed [Member] | U.S. [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Extensions and discoveries, Percent | ' | 13.00% | ' | |||
Proved Developed [Member] | Barnett Shale Asset [Member] | U.S. [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Extensions and discoveries, Percent | ' | ' | 11.00% | |||
Natural Gas [Member] | U.S. [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Revisions | 234,835 | [1] | -910,386 | [1] | -172,643 | [1] |
Proved developed | 702,147 | 725,361 | 1,244,187 | |||
Natural Gas [Member] | Canada [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Revisions | 28,648 | [1] | -33,945 | [1] | 15,066 | [1] |
Proved developed | 260,159 | 266,783 | 299,371 | |||
Oil [Member] | U.S. [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Revisions | 62 | [1] | -479 | [1] | -43 | [1] |
Proved developed | 139 | 2,416 | 2,545 | |||
Oil [Member] | Canada [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Revisions | 0 | [1] | 0 | [1] | 0 | [1] |
Proved developed | 0 | 0 | 0 | |||
Changes in Economic Factors [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Revisions | 419,972 | -590,064 | -54,539 | |||
Changes in Non-Economic Factors [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Revisions | -151,615 | -629,407 | -154,405 | |||
[1] | Revisions for each period presented reflect upward (downward) changes in previous estimates attributable to changes in economic factors of 419,972B MMcfe, (590,064) MMcfe and (54,539) MMcfe in 2013, 2012 and 2011, respectively, and changes in non-economic factors of (151,615)B MMcfe, (629,407)B MMcfe and (154,405) MMcfe in 2013, 2012 and 2011, respectively, including:b"Removal of proved undeveloped reserves that had not been developed within five years: (76) Bcfe and (250) Bcfe in 2013 and 2012, respectively;b"changes in performance related to offsetting activities, higher pipeline pressures and other factors: (74) Bcfe and (291) Bcfe in 2013 and 2012, respectively andb"revision of type curve of non producing wells based on comparison to producing analogs: (88) Bcfe in 2012. |