Coterra Energy (CTRA) 10-Q 25 Apr 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 21, 2014
Document and Entity Information	'	'
Entity Registrant Name	'CABOT OIL & GAS CORP	'
Entity Central Index Key	'0000858470	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	417,290,522
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets	'	'
Cash and cash equivalents	$25,431	$23,400
Restricted cash	19,713	28,094
Accounts receivable, net	245,073	222,476
Inventories	10,392	17,468
Deferred income taxes	71,806	81,855
Other current assets	1,415	5,606
Total current assets	373,830	378,899
Properties and equipment, net (Successful efforts method)	4,710,569	4,546,227
Other assets	61,376	55,954
TOTAL ASSETS	5,145,775	4,981,080
Current liabilities	'	'
Accounts payable	297,685	288,801
Accrued liabilities	47,203	73,601
Derivative instruments	73,428	13,912
Income taxes payable	14,312	31,591
Total current liabilities	432,628	407,905
Postretirement benefits	34,373	33,554
Long-term debt	1,222,000	1,147,000
Deferred income taxes	1,074,497	1,067,912
Asset retirement obligation	75,604	73,853
Other liabilities	37,882	46,254
Total liabilities	2,876,984	2,776,478
Commitments and contingencies	'	'
Stockholders' equity	'	'
Common stock: Authorized -- 480,000,000 shares of $0.10 par value in 2014 and 2013, respectively Issued--422,906,452 shares and 422,014,681 shares in 2014 and 2013, respectively	42,291	42,201
Additional paid-in capital	713,950	710,940
Retained earnings	1,726,504	1,627,805
Accumulated other comprehensive income / (loss)	-45,971	-8,361
Less treasury stock, at cost: 5,618,166 shares in 2014 and 2013, respectively	-167,983	-167,983
Total stockholders' equity	2,268,791	2,204,602
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$5,145,775	$4,981,080

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
CONDENSED CONSOLIDATED BALANCE SHEET	'	'
Common stock, Authorized shares	480,000,000	480,000,000
Common stock, par value (in dollars per share)	$0.10	$0.10
Common stock, Issued shares	422,906,452	422,014,681
Treasury stock, shares	5,618,166	5,618,166

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
OPERATING REVENUES	'	'
Natural gas	$432,809	$293,793
Crude oil and condensate	59,144	65,655
Brokered natural gas	13,153	10,893
Other	4,697	2,944
TOTAL OPERATING REVENUES	509,803	373,285
OPERATING EXPENSES	'	'
Direct operations	35,834	31,497
Transportation and gathering	77,765	46,221
Brokered natural gas cost	11,860	8,389
Taxes other than income	13,044	11,687
Exploration	6,474	4,024
Depreciation, depletion and amortization	147,418	148,653
General and administrative	21,636	35,704
TOTAL OPERATING EXPENSES	314,031	286,175
Gain/(loss) on sale of assets	-1,285	-96
INCOME FROM OPERATIONS	194,487	87,014
Interest expense and other	16,557	16,255
Income before income taxes	177,930	70,759
Income tax expense	70,899	27,935
NET INCOME	$107,031	$42,824
Earnings per share	'	'
Basic (in dollars per share)	$0.26	$0.10
Diluted (in dollars per share)	$0.26	$0.10
Weighted-average common shares outstanding	'	'
Basic (in shares)	416,900	420,300
Diluted (in shares)	418,513	422,752
Dividends per common share (in dollars per share)	$0.02	$0.01

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME	'		'
Net income	$107,031		$42,824
Other comprehensive income / (loss), net of taxes:	'		'
Reclassification adjustment for settled hedge contracts	42,565	[1]	-9,325	[1]
Changes in fair value of hedge contracts	-80,175	[2]	-36,975	[2]
Postretirement benefits:	'		'
Amortization of net loss	'		125	[3]
Total other comprehensive income / (loss)	-37,610		-46,175
Comprehensive income / (loss)	$69,421		($3,351)
[1]	Net of income taxes of $(28,210) and $6,045 for the three months ended March 31, 2014 and 2013, respectively.
[2]	Net of income taxes of $53,135 and $23,971 for the three months ended March 31, 2014 and 2013, respectively.
[3]	Net of income taxes of $(80) for the three months ended March 31, 2013.

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME	'	'
Reclassification adjustment for settled hedge contracts, income taxes	($28,210)	$6,045
Changes in fair value of hedge contracts, income taxes	53,135	23,971
Pension and postretirement benefits:	'	'
Amortization of net loss, income taxes	'	($80)

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net income	$107,031	$42,824
Adjustments to reconcile net income to cash provided by operating activities:	'	'
Depreciation, depletion and amortization	147,418	148,653
Deferred income tax expense	57,603	23,574
(Gain) / loss on sale of assets	1,285	96
Exploration expense	2,040	666
Amortization of debt issuance costs	1,126	897
Stock-based compensation and other	3,029	17,655
Changes in assets and liabilities:	'	'
Accounts receivable, net	-23,418	-243
Income taxes	-16,889	4,349
Inventories	7,076	2,896
Other current assets	1,170	983
Accounts payable and accrued liabilities	-16,089	-27,885
Other assets and liabilities	39	358
Stock-based compensation tax benefit	-16,043	-2,138
Net cash provided by operating activities	255,378	212,685
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Capital expenditures	-338,701	-260,169
Proceeds from sale of assets	108	486
Restricted cash	8,382	'
Investment in equity method investment	-5,937	-1,250
Net cash used in investing activities	-336,148	-260,933
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Borrowings from debt	366,000	135,000
Repayments of debt	-291,000	-95,000
Dividends paid	-8,332	-4,201
Stock-based compensation tax benefit	16,043	2,138
Other	90	32
Net cash provided by financing activities	82,801	37,969
Net increase / (decrease) in cash and cash equivalents	2,031	-10,279
Cash and cash equivalents, beginning of period	23,400	30,736
Cash and cash equivalents, end of period	$25,431	$20,457

Financial_Statement_Presentati

Financial Statement Presentation	3 Months Ended
	Mar. 31, 2014
Financial Statement Presentation	'
Financial Statement Presentation	'
	1. Financial Statement Presentation
	During interim periods, Cabot Oil & Gas Corporation (the Company) follows the same accounting policies disclosed in its Annual Report on Form 10-K for the year ended December 31, 2013 (Form 10-K) filed with the Securities and Exchange Commission (SEC). The interim financial statements should be read in conjunction with the notes to the consolidated financial statements and information presented in the Form 10-K. In management’s opinion, the accompanying interim condensed consolidated financial statements contain all material adjustments, consisting only of normal recurring adjustments, necessary for a fair statement. The results for any interim period are not necessarily indicative of the expected results for the entire year.
	Certain reclassifications have been made to prior year statements to conform with the current year presentation. These reclassifications have no impact on previously reported net income.
	With respect to the unaudited financial information of the Company as of March 31, 2014 and for the three months ended March 31, 2014 and 2013, PricewaterhouseCoopers LLP reported that they have applied limited procedures in accordance with professional standards for a review of such information. However, their separate report dated April 25, 2014 appearing herein states that they did not audit and they do not express an opinion on that unaudited financial information. Accordingly, the degree of reliance on their report on such information should be restricted in light of the limited nature of the review procedures applied. PricewaterhouseCoopers LLP is not subject to the liability provisions of Section 11 of the Securities Act of 1933 for their report on the unaudited financial information because that report is not a “report” or a “part” of a registration statement prepared or certified by PricewaterhouseCoopers LLP within the meaning of Sections 7 and 11 of the Act.

Properties_and_Equipment_Net

Properties and Equipment, Net	3 Months Ended
	Mar. 31, 2014
Properties and Equipment, Net	'
Properties and Equipment, Net	'
	2. Properties and Equipment, Net
	Properties and equipment, net are comprised of the following:
		March 31,			December 31,
	(In thousands)	2014			2013
	Proved oil and gas properties	$	6,676,002		$	6,362,570
	Unproved oil and gas properties	365,186			375,428
	Gathering and pipeline systems	239,925			239,958
	Land, building and other equipment	97,082			94,243
		7,378,195			7,072,199
	Accumulated depreciation, depletion and amortization	(2,667,626		)	(2,525,972		)
		$	4,710,569		$	4,546,227
	At March 31, 2014, the Company did not have any projects that had exploratory well costs that were capitalized for a period of greater than one year after drilling.

Equity_Method_Investment

Equity Method Investment	3 Months Ended
	Mar. 31, 2014
Equity Method Investment	'
Equity Method Investment	'
	3. Equity Method Investment
	For further information regarding the Company’s equity method investments, refer to Note 4 of the Notes to the Consolidated Financial Statements in the Form 10-K.
	Meade Pipeline Co LLC
	In February 2014, the Company acquired a 20% equity interest in Meade Pipeline Co LLC (Meade). Meade was formed to participate in the development and construction of a 177-mile pipeline (Central Penn Line) that will transport natural gas from Susquehanna County, Pennsylvania to an interconnect with Transcontinental Gas Pipe Line Company, LLC’s (Transco) mainline in Lancaster County, Pennsylvania. The new pipeline will be constructed and operated by Transco and will be owned by Transco and Meade in proportion to their respective ownership percentages. Under the terms of the LLC agreement, the Company agreed to invest its proportionate share of Meade’s anticipated costs associated with the new pipeline of $149 million, which is expected to occur over the next three to four years.  The expected in-service date for the new pipeline is scheduled for the second half of 2017.  There were no material contributions made to Meade for the period ended March 31, 2014.

Debt_and_Credit_Agreements

Debt and Credit Agreements	3 Months Ended
	Mar. 31, 2014
Debt and Credit Agreements	'
Debt and Credit Agreements	'
	4. Debt and Credit Agreements
	The Company’s debt and credit agreements consisted of the following:
		March 31,		December 31,
	(In thousands)	2014		2013
	Long-Term Debt
	7.33% weighted-average fixed rate notes	$	20,000	$	20,000
	6.51% weighted-average fixed rate notes	425,000		425,000
	9.78% notes	67,000		67,000
	5.58% weighted-average fixed rate notes	175,000		175,000
	Credit facility	535,000		460,000
		$	1,222,000	$	1,147,000
	At March 31, 2014, the Company had $535.0 million of borrowings outstanding under its revolving credit facility at a weighted-average interest rate of 2.2% and $864.0 million available for future borrowings.
	The Company was in compliance with all restrictive financial covenants for both the revolving credit facility and fixed rate notes as of March 31, 2014.
	Effective April 15, 2014, the lenders under the Company’s revolving credit facility approved an increase in the Company’s borrowing base from $2.3 billion to $3.1 billion as part of the annual redetermination under the terms of the revolving credit facility. The commitments under the revolving credit facility remain unchanged at $1.4 billion.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities	'
Derivative Instruments and Hedging Activities	'
	5. Derivative Instruments and Hedging Activities
	The Company periodically enters into commodity derivative instruments to hedge its exposure to price fluctuations on natural gas and crude oil production. The Company’s credit agreement restricts the ability of the Company to enter into commodity hedges other than to hedge or mitigate risks to which the Company has actual or projected exposure or as permitted under the Company’s risk management policies and where such derivatives do not subject the Company to material speculative risks. All of the Company’s derivatives are used for risk management purposes and are not held for trading purposes.
	As of March 31, 2014, the Company had the following outstanding commodity derivatives:
								Collars							Swaps
								Floor			Ceiling
	Type of Contract	Volume				Contract Period		Range	Weighted-		Range		Weighted-			Weighted-
									Average				Average			Average
	Natural gas	253.8		Bcf		Apr. 2014 - Dec. 2014		$3.60-$4.37	$	4.13	$4.22-$4.80		$	4.51
	Natural gas	80.1		Bcf		Apr. 2014 - Dec. 2014										$	4.05
	Crude oil	550		Mbbl		Apr. 2014 - Dec. 2014										$	97
	Natural gas prices are stated per Mcf and crude oil prices are stated per barrel.
	The change in the fair value of derivatives designated as hedges that are effective is recorded to accumulated other comprehensive income / (loss) in stockholders’ equity in the Condensed Consolidated Balance Sheet. The ineffective portion of the change in the fair value of derivatives designated as hedges and the change in fair value of derivatives not designated as hedges are recorded currently in earnings as a component of natural gas revenue and crude oil and condensate revenue in the Condensed Consolidated Statement of Operations.
	The following tables reflect the fair value of derivative instruments on the Company’s condensed consolidated financial statements:
	Effect of Derivative Instruments on the Condensed Consolidated Balance Sheet
				Fair Values of Derivative Instruments
				Derivative Assets					Derivative Liabilities
				March 31,			December 31,		March 31,		December 31,
	(In thousands)	Balance Sheet Location		2014			2013		2014		2013
	Commodity contracts	Other current assets		$	—		$	3,019	$	—	$	—
	Commodity contracts	Derivative instruments (current liabilites)		—			—		73,428		13,912
				$	—		$	3,019	$	73,428	$	13,912
	At March 31, 2014 and December 31, 2013, unrealized losses of $73.4 million ($44.2 million, net of tax) and $10.9 million ($6.6 million, net of tax), respectively, were recorded in accumulated other comprehensive income / (loss) in stockholders’ equity in the Condensed Consolidated Balance Sheet. Based upon estimates at March 31, 2014, the Company expects to reclassify $44.2 million in after-tax losses associated with its commodity hedges from accumulated other comprehensive income / (loss) to the Condensed Consolidated Statement of Operations over the next nine months.
	Offsetting of Derivative Assets and Liabilities in the Condensed Consolidated Balance Sheet
		March 31,			December 31,
	(In thousands)	2014			2013
	Derivative Assets
	Gross amounts of recognized assets	$	4,041		$	13,792
	Gross amounts offset in the statement of financial position	(4,041		)	(10,773		)
	Net amounts of assets presented in the statement of financial position	—			3,019
	Gross amounts of financial instruments not offset in the statement of financial position	—			373
	Net amount	$	—		$	3,392
	Derivative Liabilities
	Gross amounts of recognized liabilities	$	77,469		$	24,685
	Gross amounts offset in the statement of financial position	(4,041		)	(10,773		)
	Net amounts of liabilities presented in the statement of financial position	73,428			13,912
	Gross amounts of financial instruments not offset in the statement of financial position	218			—
	Net amount	$	73,646		$	13,912
	Effect of Derivative Instruments on the Condensed Consolidated Statement of Operations
	Derivatives Designated as Hedging Instruments
	The amount of gain (loss) recognized in other comprehensive income / (loss) on derivatives (effective portion) is as follows:
		Three Months Ended
		March 31,
	(In thousands)	2014			2013
	Commodity contracts	$	(133,310	)	$	(60,946	)
	The amount of gain (loss) reclassified from accumulated other comprehensive income / (loss) into income (effective portion) is as follows:
	(In thousands)	Three Months Ended
		March 31,
		2014			2013
	Natural gas revenues	$	(70,557	)	$	13,328
	Crude oil and condensate revenues	(218		)	2,042
		$	(70,775	)	$	15,370
	For the three months ended March 31, 2014 and 2013, respectively, there was no ineffectiveness recorded in the Company’s Condensed Consolidated Statement of Operations related to its derivative instruments designated as hedges.
	Additional Disclosures about Derivative Instruments and Hedging Activities
	The use of derivative instruments involves the risk that the counterparties will be unable to meet their obligations under the agreements. The Company enters into derivative contracts with multiple counterparties in order to limit its exposure to individual counterparties. The Company also has netting arrangements with all of its counterparties that allow it to offset assets and liabilities from separate derivative contracts with that counterparty.
	Certain counterparties to the Company’s derivative instruments are also lenders under its revolving credit facility. The Company’s revolving credit facility and derivative instruments contain certain cross default and acceleration provisions that may require immediate payment of its derivative liabilities in certain situations.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2014
Fair Value Measurements	'
Fair Value Measurements	'
	6. Fair Value Measurements
	The Company follows the authoritative guidance for measuring fair value of assets and liabilities in its financial statements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The authoritative guidance also established a formal fair value hierarchy based on the inputs used to measure fair value. The hierarchy gives the highest priority to Level 1 measurements and the lowest priority to Level 3 measurements. The Company has classified its assets and liabilities into these levels depending upon the data relied on to determine the fair values. For further information regarding the fair value hierarchy, refer to Note 7 of the Notes to the Consolidated Financial Statements in the Form 10-K.
	Non-Financial Assets and Liabilities
	The Company discloses or recognizes its non-financial assets and liabilities, such as impairments of oil and gas properties and other assets, at fair value on a nonrecurring basis. As none of the Company’s non-financial assets and liabilities were impaired as of March 31, 2014 and 2013 and no other assets or liabilities were required to be recognized at fair value on a non-recurring basis, additional disclosures were not provided.
	The estimated fair value of the Company’s asset retirement obligation at inception is determined by utilizing the income approach by applying a credit-adjusted risk-free rate, which takes into account the Company’s credit risk, the time value of money, and the current economic state, to the undiscounted expected abandonment cash flows. Given the unobservable nature of the inputs, the measurement of the asset retirement obligation was classified as Level 3 in the fair value hierarchy.
	Financial Assets and Liabilities
	The following fair value hierarchy table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis:
	(In thousands)	Quoted Prices in			Significant Other			Significant		March 31, 2014
		Active Markets for			Observable Inputs			Unobservable
		Identical Assets			(Level 2)			Inputs
		(Level 1)						(Level 3)
	Assets
	Deferred compensation plan	$	12,886		$	—		$	—	$	12,886
	Derivative contracts	—			—			4,041		4,041
	Total assets	$	12,886		$	—		$	4,041	$	16,927
	Liabilities
	Deferred compensation plan	$	30,983		$	—		$	—	$	30,983
	Derivative contracts	—			13,060			64,409		77,469
	Total liabilities	$	30,983		$	13,060		$	64,409	$	108,452
	(In thousands)	Quoted Prices in			Significant Other			Significant		December 31, 2013
		Active Markets for			Observable Inputs			Unobservable Inputs
		Identical Assets			(Level 2)			(Level 3)
		(Level 1)
	Assets
	Deferred compensation plan	$	12,507		$	—		$	—	$	12,507
	Derivative contracts	—			—			13,792		13,792
	Total assets	$	12,507		$	—		$	13,792	$	26,299
	Liabilities
	Deferred compensation plan	$	33,211		$	—		$	—	$	33,211
	Derivative contracts	—			6,983			17,702		24,685
	Total liabilities	$	33,211		$	6,983		$	17,702	$	57,896
	The Company’s investments associated with its deferred compensation plan consist of mutual funds and deferred shares of the Company’s common stock that are publicly traded and for which market prices are readily available.
	The derivative instruments were measured based on quotes from the Company’s counterparties. Such quotes have been derived using an income approach that considers various inputs including current market and contractual prices for the underlying instruments, quoted forward prices for natural gas and crude oil, basis differentials, volatility factors and interest rates, such as a LIBOR curve for a similar length of time as the derivative contract term as applicable. Estimates are verified using relevant NYMEX futures contracts and/or are compared to multiple quotes obtained from counterparties for reasonableness. The determination of the fair values presented above also incorporates a credit adjustment for non-performance risk. The Company measured the non-performance risk of its counterparties by reviewing credit default swap spreads for the various financial institutions with which it has derivative transactions, while non-performance risk of the Company is evaluated using a market credit spread provided by the Company’s bank.
	The most significant unobservable inputs relative to the Company’s Level 3 derivative contracts are basis differentials and volatility factors.  An increase (decrease) in these unobservable inputs would result in an increase (decrease) in fair value, respectively. The Company does not have access to the specific assumptions used in its counterparties’ valuation models. Consequently, additional disclosures regarding significant Level 3 unobservable inputs were not provided.
	The following table sets forth a reconciliation of changes in the fair value of financial assets / (liabilities) classified as Level 3 in the fair value hierarchy:
		Three Months Ended
		March 31,
	(In thousands)	2014			2013
	Balance at beginning of period	$	(3,910	)	$	41,159
	Total gains or (losses) (realized or unrealized):
	Included in earnings	(62,285		)	13,328
	Included in other comprehensive income	(56,458		)	(71,058		)
	Settlements	62,285			(13,328		)
	Transfers in and/or out of level 3	—			—
	Balance at end of period	$	(60,368	)	$	(29,899	)
	There were no transfers between Level 1 and Level 2 measurements for the three months ended March 31, 2014 and 2013.
	Fair Value of Other Financial Instruments
	The estimated fair value of financial instruments is the amount at which the instrument could be exchanged currently between willing parties. The carrying amounts reported in the Condensed Consolidated Balance Sheet for cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term maturities of these instruments.
	The fair value of long-term debt is the estimated amount the Company would have to pay a third party to assume the debt, including a credit spread for the difference between the issue rate and the period end market rate. The credit spread is the Company’s default or repayment risk. The credit spread (premium or discount) is determined by comparing the Company’s fixed-rate notes and revolving credit facility to new issuances (secured and unsecured) and secondary trades of similar size and credit statistics for both public and private debt. The fair value of all fixed-rate notes and the revolving credit facility is based on interest rates currently available to the Company.  The Company’s long-term debt is valued using an income approach and classified as Level 3 in the fair value hierarchy due to the unobservable nature of the inputs.
	The Company uses available market data and valuation methodologies to estimate the fair value of debt. The carrying amounts and fair values of long-term debt are as follows:
		March 31, 2014						December 31, 2013
	(In thousands)	Carrying			Estimated Fair			Carrying		Estimated Fair
		Amount			Value			Amount		Value
	Long-term debt	$	1,222,000		$	1,325,174		$	1,147,000	$	1,224,273

Asset_Retirement_Obligation

Asset Retirement Obligation	3 Months Ended
	Mar. 31, 2014
Asset Retirement Obligation	'
Asset Retirement Obligation	'
	7. Asset Retirement Obligation
	Activity related to the Company’s asset retirement obligation is as follows:
	(In thousands)	Three Months Ended
		March 31, 2014
	Balance at beginning of period	$	75,853
	Liabilities incurred	1,647
	Liabilities divested	(899		)
	Accretion expense	1,003
	Balance at end of period	$	77,604
	As of March 31, 2014, approximately $2.0 million, which represents the current portion of the Company’s asset retirement obligation, is included in accrued liabilities in the Condensed Consolidated Balance Sheet.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies	'
Commitments and Contingencies	'
	8. Commitments and Contingencies
	Contractual Obligations
	The Company has various contractual obligations in the normal course of its operations. Except for certain new and amended transportation agreements described below, there have been no material changes to the Company’s contractual obligations described under “Transportation and Gathering Agreements”, “Drilling Rig Commitments” and “Lease Commitments” as disclosed in Note 9 in the Notes to Consolidated Financial Statements included in the Form 10-K.
	Transportation and Gathering Agreements
	During the first three months of 2014, the Company entered into or amended certain natural gas transportation agreements associated with the Company’s production in Pennsylvania. These agreements increased the Company’s future aggregate obligations under its transportation commitments by approximately $180.3 million over the next 10 years compared to those amounts in disclosed in Note 9 in the Notes to Consolidated Financial Statements included in the Form 10-K.
	Legal Matters
	The Company is a defendant in various legal proceedings arising in the normal course of business. All known liabilities are accrued when management determines they are probable based on its best estimate of the potential loss. While the outcome and impact of these legal proceedings on the Company cannot be predicted with certainty, management believes that the resolution of these proceedings will not have a material effect on the Company’s financial position, results of operations or cash flows.
	Contingency Reserves
	When deemed necessary, the Company establishes reserves for certain legal proceedings. The establishment of a reserve is based on an estimation process that includes the advice of legal counsel and subjective judgment of management. While management believes these reserves to be adequate, it is reasonably possible that the Company could incur additional losses with respect to those matters in which reserves have been established. The Company believes that any such amount above the amounts accrued is not material to the Condensed Consolidated Financial Statements. Future changes in facts and circumstances not currently foreseeable could result in the actual liability exceeding the estimated ranges of loss and amounts accrued.
	Environmental Matters
	Pennsylvania Department of Environmental Protection
	On December 15, 2010, the Company entered into a consent order and settlement agreement (CO&SA) with the Pennsylvania Department of Environmental Protection (PaDEP), addressing a number of environmental issues originally identified in 2008 and 2009, including alleged releases of drilling mud and other substances, alleged record keeping violations at various wells and alleged natural gas contamination of water supplies to 14 households in Susquehanna County, Pennsylvania. During 2010 and 2011, the Company paid a total of $1.3 million in settlement of fines and penalties sought or claimed by the PaDEP related to this matter. On January 11, 2011, certain of the affected households appealed the CO&SA to the Pennsylvania Environmental Hearing Board (PEHB). On October 17, 2011, the Company requested PaDEP approval to resume hydraulic fracturing and new natural gas well drilling operations in the affected area, along with a request to cease temporary water deliveries to the affected households pursuant to prior consent orders with the PaDEP. The PaDEP concurred that temporary water deliveries to the property owners are no longer necessary. On August 21, 2012, the PaDEP notified the Company that it could commence completion operations on existing wells within the concerned area.
	On November 18, 2011, certain of the affected households appealed this order to the PEHB, which appeal was later consolidated with the CO&SA appeal. All appellants have accepted their portion of the $2.2 million that was placed into escrow in 2011 for their benefit and on October 18, 2012 had dismissed their appeal to the PEHB. Subsequent to the withdrawal of the appeals, the PEHB allowed three groups of appellants to reinstate their appeal. On April 1, 2014, on the motion of the appellants, the Court dismissed all claims on appeal.

Postretirement_Benefits

Postretirement Benefits	3 Months Ended
	Mar. 31, 2014
Postretirement Benefits	'
Postretirement Benefits	'
	9. Postretirement Benefits
	The components of net periodic benefit costs, included in general and administrative expense in the Condensed Consolidated Statement of Operations, were as follows:
		Three Months Ended
		March 31,
	(In thousands)	2014		2013
	Service cost	$	456	$	415
	Interest cost	407		395
	Amortization of net loss	—		205
		$	863	$	1,015
	Under the authoritative guidance, the net actuarial loss is not amortized if it is less than 10% of the postretirement obligation. Accordingly, the Company does not expect to amortize its net actuarial loss from accumulated other comprehensive income during 2014.

Stockbased_Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2014
Stock-based Compensation	'
Stock-based Compensation	'
	10. Stock-based Compensation
	Stock-based compensation expense during the first three months of 2014 and 2013 was $3.2 million and $18.7 million, respectively, and is included in general and administrative expense in the Condensed Consolidated Statement of Operations.
	For the three months ended March 31, 2014 and 2013, the Company realized a $16.0 million and a $2.1 million tax benefit, respectively, related to the federal tax deduction in excess of book compensation cost for employee stock-based compensation. The Company is able to recognize this tax benefit only to the extent it reduces the Company’s income taxes payable.
	Restricted Stock Awards
	During the first three months of 2014, 44,000 restricted stock awards were granted to employees with a weighted-average grant date per share value of $35.00. The fair value of restricted stock grants is based on the average of the high and low stock price on the grant date. The Company used an annual forfeiture rate assumption of 5.0% for purposes of recognizing stock-based compensation expense for restricted stock awards.
	Restricted Stock Units
	During the first three months of 2014, 32,203 restricted stock units were granted to non-employee directors of the Company with a weighted-average grant date per unit value of $39.33. The fair value of these units is measured based on the average of the high and low stock price on grant date and compensation expense is recorded immediately. These units immediately vest and are issued when the director ceases to be a director of the Company.
	Performance Share Awards
	The performance period for the awards granted in 2014 commenced on January 1, 2014 and ends on December 31, 2016.  The Company used an annual forfeiture rate assumption ranging from 0% to 5% for purposes of recognizing stock-based compensation expense for its performance share awards. Refer to Note 13 of the Notes to the Consolidated Financial Statements in the Form 10-K for further description of the various types of performance share awards and the applicable award terms.
	Performance Share Awards Based on Internal Performance Metrics
	The fair value of performance award grants based on internal performance metrics is based on the average of the high and low stock price on the grant date and represents the right to receive up to 100% of the award in shares of common stock.
	Employee Performance Share Awards. During the first three months of 2014, 241,130 Employee Performance Share Awards were granted at a grant date per share value of $39.43. These performance metrics are set by the Company’s Compensation Committee and are based on the Company’s average production, average finding costs and average reserve replacement over a three-year performance period. Based on the Company’s probability assessment at March 31, 2014, it is considered probable that the criteria for the performance awards based on performance conditions will be met.
	Hybrid Performance Share Awards. During the first three months of 2014, 123,257 Hybrid Performance Share Awards were granted at a grant date per share value of $39.43, which is based on the average of the high and low stock price on the grant date. The 2014 awards vest 25% on each of the first and second anniversary dates and 50% on the third anniversary, provided that the Company has $100 million or more of operating cash flow for the year preceding the vesting date, as set by the Company’s Compensation Committee. If the Company does not meet the performance metric for the applicable period, then the portion of the performance shares that would have been issued on that anniversary date will be forfeited. Based on the Company’s probability assessment at March 31, 2014, it is considered probable that the criteria for the performance awards based on performance conditions will be met.
	Performance Share Awards Based on Market Conditions
	These awards have both an equity and liability component, with the right to receive up to the first 100% of the award in shares of common stock and the right to receive up to an additional 100% of the value of the award in excess of the equity component in cash. The equity portion of these awards is valued on the grant date and is not marked to market, while the liability portion of the awards is valued as of the end of each reporting period on a mark-to-market basis. The Company calculates the fair value of the equity and liability portions of the awards using a Monte Carlo simulation model.
	TSR Performance Share Awards.  During the first three months of 2014, 184,885 TSR Performance Share Awards were granted and are earned, or not earned, based on the comparative performance of the Company’s common stock measured against fourteen other companies in the Company’s peer group over a three-year performance period.
	The following assumptions were used to determine the grant date fair value of the equity component (February 20, 2014) and the period-end fair value of the liability component of the TSR Performance Share Awards:
		Grant Date		March 31, 2014
	Fair value per performance share award	$	32.04	$9.58 - $25.37
	Assumptions:
	Stock price volatility	41.30%		30.7% - 78.7%
	Risk free rate of return	0.70%		0.1% - 0.8%
	Expected dividend yield	0.20%		0.20%
	Supplemental Employee Incentive Plan
	The Company recognized stock-based compensation expense of $1.5 million and $3.4 million for the three months ended March 31, 2014 and 2013, respectively, related to the Supplemental Employee Incentive Plan (the Plan) which is included in general and administrative expense in the Condensed Consolidated Statement of Operations. Refer to Note 13 of the Notes to the Consolidated Financial Statements in the Form 10-K for additional information on the provisions of the Plan.
	The following assumptions were used determine the period-end fair value of the SEIP IV liability using a Monte Carlo model:
		March 31,
		2014
	Stock price volatility	37.50%
	Risk free rate of return	1.10%
	Annual salary increase rate	4.00%
	Annual turnover rate	4.60%

Earnings_per_Common_Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2014
Earnings per Common Share	'
Earnings per Common Share	'
	11. Earnings per Common Share
	Basic EPS is computed by dividing net income (the numerator) by the weighted-average number of common shares outstanding for the period (the denominator). Diluted EPS is similarly calculated except that the denominator is increased using the treasury stock method to reflect the potential dilution that could occur if outstanding stock appreciation rights were exercised and stock awards were vested at the end of the applicable period.
		Three Months Ended
		March 31,
	(In thousands)	2014	2013
	Weighted-average shares - basic	416,900	420,300
	Dilution effect of stock appreciation rights and stock awards at end of period	1,613	2,452
	Weighted-average shares - diluted	418,513	422,752
	Weighted-average shares excluded from diluted earnings per share due to the anti-dilutive effect	272	368

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income / (Loss)	3 Months Ended
	Mar. 31, 2014
Accumulated Other Comprehensive Income / (Loss)	'
Accumulated Other Comprehensive Income / (Loss)	'
	12. Accumulated Other Comprehensive Income / (Loss)
	Changes in accumulated other comprehensive income / (loss) by component, net of tax, were as follows:
	(In thousands)	Net Gains /			Postretirement			Total
		(Losses) on			Benefits
		Cash Flow
		Hedges
	Balance at December 31, 2013	$	(6,551	)	$	(1,810	)	$	(8,361	)
	Other comprehensive income before reclassifications	(80,175		)	—			(80,175		)
	Amounts reclassified from accumulated other comprehensive income	42,565			—			42,565
	Net current-period other comprehensive income	(37,610		)	—			(37,610		)
	Balance at March 31, 2014	$	(44,161	)	$	(1,810	)	$	(45,971	)
	Amounts reclassified from accumulated other comprehensive income / (loss) into the Condensed Consolidated Statement of Operations were as follows:
		Three Months Ended
		March 31,					Affected Line Item in the Condensed
	(In thousands)	2014			2013		Consolidated Statement of Operations
	Net gains / (losses) on cash flow hedges
	Commodity contracts	$	(70,557	)	13,328		Natural gas revenues
	Commodity contracts	(218		)	2,042		Crude oil and condensate revenues
	Postretirement benefits
	Amortization of net loss	—			(205	)	General and administrative expense
		(70,775		)	15,165		Total before tax
		28,210			(5,965	)	Tax (expense) / benefit
	Total reclassifications for the period	$	(42,565	)	9,200		Net of tax

ADDITIONAL_BALANCE_SHEET_INFOR

ADDITIONAL BALANCE SHEET INFORMATION	3 Months Ended
	Mar. 31, 2014
ADDITIONAL BALANCE SHEET INFORMATION	'
ADDITIONAL BALANCE SHEET INFORMATION	'
	13. ADDITIONAL BALANCE SHEET INFORMATION
	Certain balance sheet amounts are comprised of the following:
		March 31,			December 31,
	(In thousands)	2014			2013
	Accounts receivable, net
	Trade accounts	$	242,367		$	215,361
	Joint interest accounts	3,469			7,261
	Income taxes receivable	532			922
	Other accounts	516			746
		246,884			224,290
	Allowance for doubtful accounts	(1,811		)	(1,814		)
		$	245,073		$	222,476
	Inventories
	Natural gas in storage	$	3,169		$	9,056
	Tubular goods and well equipment	7,193			8,396
	Other accounts	30			16
		$	10,392		$	17,468
	Other current assets
	Prepaid balances and other	1,415			2,587
	Derivative instruments	—			3,019
		$	1,415		$	5,606
	Other assets
	Deferred compensation plan	$	12,886		$	12,507
	Debt issuance cost	15,350			16,476
	Equity method investment	32,971			26,892
	Other accounts	169			79
		$	61,376		$	55,954
	Accounts payable
	Trade accounts	$	56,956		$	26,023
	Natural gas purchases	2,933			2,052
	Royalty and other owners	83,902			79,150
	Accrued capital costs	120,091			146,899
	Taxes other than income	18,869			13,677
	Drilling advances	8,334			14,093
	Producer gas imbalances	69			69
	Other accounts	6,531			6,838
		$	297,685		$	288,801
	Accrued liabilities
	Employee benefits	$	24,645		$	43,599
	Taxes other than income	6,797			6,894
	Interest payable	12,637			20,211
	Other accounts	3,124			2,897
		$	47,203		$	73,601
	Other liabilities
	Deferred compensation plan	$	30,983		$	33,211
	Other accounts	6,899			13,043
		$	37,882		$	46,254

Properties_and_Equipment_Net_T

Properties and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2014
Properties and Equipment, Net	'
Schedule of properties and equipment, net	'
		March 31,			December 31,
	(In thousands)	2014			2013
	Proved oil and gas properties	$	6,676,002		$	6,362,570
	Unproved oil and gas properties	365,186			375,428
	Gathering and pipeline systems	239,925			239,958
	Land, building and other equipment	97,082			94,243
		7,378,195			7,072,199
	Accumulated depreciation, depletion and amortization	(2,667,626		)	(2,525,972		)
		$	4,710,569		$	4,546,227

Debt_and_Credit_Agreements_Tab

Debt and Credit Agreements (Tables)	3 Months Ended
	Mar. 31, 2014
Debt and Credit Agreements	'
Company's Long-Term Debt and credit agreements Components	'
		March 31,		December 31,
	(In thousands)	2014		2013
	Long-Term Debt
	7.33% weighted-average fixed rate notes	$	20,000	$	20,000
	6.51% weighted-average fixed rate notes	425,000		425,000
	9.78% notes	67,000		67,000
	5.58% weighted-average fixed rate notes	175,000		175,000
	Credit facility	535,000		460,000
		$	1,222,000	$	1,147,000

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities	'
Outstanding commodity derivatives	'
	As of March 31, 2014, the Company had the following outstanding commodity derivatives:
								Collars							Swaps
								Floor			Ceiling
	Type of Contract	Volume				Contract Period		Range	Weighted-		Range		Weighted-			Weighted-
									Average				Average			Average
	Natural gas	253.8		Bcf		Apr. 2014 - Dec. 2014		$3.60-$4.37	$	4.13	$4.22-$4.80		$	4.51
	Natural gas	80.1		Bcf		Apr. 2014 - Dec. 2014										$	4.05
	Crude oil	550		Mbbl		Apr. 2014 - Dec. 2014										$	97
Effect of Derivative Instruments on the Condensed Consolidated Balance Sheet	'
				Fair Values of Derivative Instruments
				Derivative Assets					Derivative Liabilities
				March 31,			December 31,		March 31,		December 31,
	(In thousands)	Balance Sheet Location		2014			2013		2014		2013
	Commodity contracts	Other current assets		$	—		$	3,019	$	—	$	—
	Commodity contracts	Derivative instruments (current liabilites)		—			—		73,428		13,912
				$	—		$	3,019	$	73,428	$	13,912
Schedule of offsetting of derivative assets and liabilities in the condensed consolidated balance sheet	'
		March 31,			December 31,
	(In thousands)	2014			2013
	Derivative Assets
	Gross amounts of recognized assets	$	4,041		$	13,792
	Gross amounts offset in the statement of financial position	(4,041		)	(10,773		)
	Net amounts of assets presented in the statement of financial position	—			3,019
	Gross amounts of financial instruments not offset in the statement of financial position	—			373
	Net amount	$	—		$	3,392
	Derivative Liabilities
	Gross amounts of recognized liabilities	$	77,469		$	24,685
	Gross amounts offset in the statement of financial position	(4,041		)	(10,773		)
	Net amounts of liabilities presented in the statement of financial position	73,428			13,912
	Gross amounts of financial instruments not offset in the statement of financial position	218			—
	Net amount	$	73,646		$	13,912
Amount of gain (loss) recognized in other comprehensive income / (loss) on dervatives	'
		Three Months Ended
		March 31,
	(In thousands)	2014			2013
	Commodity contracts	$	(133,310	)	$	(60,946	)
Amount of gain (loss) reclassified from accumulated other comprehensive income / (loss)	'
	(In thousands)	Three Months Ended
		March 31,
		2014			2013
	Natural gas revenues	$	(70,557	)	$	13,328
	Crude oil and condensate revenues	(218		)	2,042
		$	(70,775	)	$	15,370

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Measurements	'
Financial assets and liabilities measured at fair value on a recurring basis	'
	(In thousands)	Quoted Prices in			Significant Other			Significant		March 31, 2014
		Active Markets for			Observable Inputs			Unobservable
		Identical Assets			(Level 2)			Inputs
		(Level 1)						(Level 3)
	Assets
	Deferred compensation plan	$	12,886		$	—		$	—	$	12,886
	Derivative contracts	—			—			4,041		4,041
	Total assets	$	12,886		$	—		$	4,041	$	16,927
	Liabilities
	Deferred compensation plan	$	30,983		$	—		$	—	$	30,983
	Derivative contracts	—			13,060			64,409		77,469
	Total liabilities	$	30,983		$	13,060		$	64,409	$	108,452
	(In thousands)	Quoted Prices in			Significant Other			Significant		December 31, 2013
		Active Markets for			Observable Inputs			Unobservable Inputs
		Identical Assets			(Level 2)			(Level 3)
		(Level 1)
	Assets
	Deferred compensation plan	$	12,507		$	—		$	—	$	12,507
	Derivative contracts	—			—			13,792		13,792
	Total assets	$	12,507		$	—		$	13,792	$	26,299
	Liabilities
	Deferred compensation plan	$	33,211		$	—		$	—	$	33,211
	Derivative contracts	—			6,983			17,702		24,685
	Total liabilities	$	33,211		$	6,983		$	17,702	$	57,896
Fair Value of Financial Assets and Liabilities Classified as Level 3	'
		Three Months Ended
		March 31,
	(In thousands)	2014			2013
	Balance at beginning of period	$	(3,910	)	$	41,159
	Total gains or (losses) (realized or unrealized):
	Included in earnings	(62,285		)	13,328
	Included in other comprehensive income	(56,458		)	(71,058		)
	Settlements	62,285			(13,328		)
	Transfers in and/or out of level 3	—			—
	Balance at end of period	$	(60,368	)	$	(29,899	)
Carrying amounts and fair values of long-term debt	'
		March 31, 2014						December 31, 2013
	(In thousands)	Carrying			Estimated Fair			Carrying		Estimated Fair
		Amount			Value			Amount		Value
	Long-term debt	$	1,222,000		$	1,325,174		$	1,147,000	$	1,224,273

Asset_Retirement_Obligation_Ta

Asset Retirement Obligation (Tables)	3 Months Ended
	Mar. 31, 2014
Asset Retirement Obligation	'
Asset Retirement Obligation	'
	(In thousands)	Three Months Ended
		March 31, 2014
	Balance at beginning of period	$	75,853
	Liabilities incurred	1,647
	Liabilities divested	(899		)
	Accretion expense	1,003
	Balance at end of period	$	77,604

Postretirement_Benefits_Tables

Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2014
Postretirement Benefits	'
Components of net periodic benefit costs	'
		Three Months Ended
		March 31,
	(In thousands)	2014		2013
	Service cost	$	456	$	415
	Interest cost	407		395
	Amortization of net loss	—		205
		$	863	$	1,015

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2014
SEIP IV	'
Stock-Based Compensation arrangements	'
Schedule of Value per Share and Assumptions Used	'
		March 31,
		2014
	Stock price volatility	37.50%
	Risk free rate of return	1.10%
	Annual salary increase rate	4.00%
	Annual turnover rate	4.60%
TSR Performance Share Awards	'
Stock-Based Compensation arrangements	'
Schedule of Value per Share and Assumptions Used	'
		Grant Date		March 31, 2014
	Fair value per performance share award	$	32.04	$9.58 - $25.37
	Assumptions:
	Stock price volatility	41.30%		30.7% - 78.7%
	Risk free rate of return	0.70%		0.1% - 0.8%
	Expected dividend yield	0.20%		0.20%

Earnings_per_Common_Share_Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings per Common Share	'
Calculation of basic and diluted weighted-average shares outstanding	'
		Three Months Ended
		March 31,
	(In thousands)	2014	2013
	Weighted-average shares - basic	416,900	420,300
	Dilution effect of stock appreciation rights and stock awards at end of period	1,613	2,452
	Weighted-average shares - diluted	418,513	422,752
	Weighted-average shares excluded from diluted earnings per share due to the anti-dilutive effect	272	368

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income / (Loss) (Tables)	3 Months Ended
	Mar. 31, 2014
Accumulated Other Comprehensive Income / (Loss)	'
Changes in accumulated other comprehensive income / (loss) by component, net of tax	'
	(In thousands)	Net Gains /			Postretirement			Total
		(Losses) on			Benefits
		Cash Flow
		Hedges
	Balance at December 31, 2013	$	(6,551	)	$	(1,810	)	$	(8,361	)
	Other comprehensive income before reclassifications	(80,175		)	—			(80,175		)
	Amounts reclassified from accumulated other comprehensive income	42,565			—			42,565
	Net current-period other comprehensive income	(37,610		)	—			(37,610		)
	Balance at March 31, 2014	$	(44,161	)	$	(1,810	)	$	(45,971	)
Schedule of amount reclassified from accumulated other comprehensive income / (loss) into the Condensed Consolidated Statement of Operations	'
		Three Months Ended
		March 31,					Affected Line Item in the Condensed
	(In thousands)	2014			2013		Consolidated Statement of Operations
	Net gains / (losses) on cash flow hedges
	Commodity contracts	$	(70,557	)	13,328		Natural gas revenues
	Commodity contracts	(218		)	2,042		Crude oil and condensate revenues
	Postretirement benefits
	Amortization of net loss	—			(205	)	General and administrative expense
		(70,775		)	15,165		Total before tax
		28,210			(5,965	)	Tax (expense) / benefit
	Total reclassifications for the period	$	(42,565	)	9,200		Net of tax

ADDITIONAL_BALANCE_SHEET_INFOR1

ADDITIONAL BALANCE SHEET INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2014
ADDITIONAL BALANCE SHEET INFORMATION	'
Additional Balance Sheet Information	'
		March 31,			December 31,
	(In thousands)	2014			2013
	Accounts receivable, net
	Trade accounts	$	242,367		$	215,361
	Joint interest accounts	3,469			7,261
	Income taxes receivable	532			922
	Other accounts	516			746
		246,884			224,290
	Allowance for doubtful accounts	(1,811		)	(1,814		)
		$	245,073		$	222,476
	Inventories
	Natural gas in storage	$	3,169		$	9,056
	Tubular goods and well equipment	7,193			8,396
	Other accounts	30			16
		$	10,392		$	17,468
	Other current assets
	Prepaid balances and other	1,415			2,587
	Derivative instruments	—			3,019
		$	1,415		$	5,606
	Other assets
	Deferred compensation plan	$	12,886		$	12,507
	Debt issuance cost	15,350			16,476
	Equity method investment	32,971			26,892
	Other accounts	169			79
		$	61,376		$	55,954
	Accounts payable
	Trade accounts	$	56,956		$	26,023
	Natural gas purchases	2,933			2,052
	Royalty and other owners	83,902			79,150
	Accrued capital costs	120,091			146,899
	Taxes other than income	18,869			13,677
	Drilling advances	8,334			14,093
	Producer gas imbalances	69			69
	Other accounts	6,531			6,838
		$	297,685		$	288,801
	Accrued liabilities
	Employee benefits	$	24,645		$	43,599
	Taxes other than income	6,797			6,894
	Interest payable	12,637			20,211
	Other accounts	3,124			2,897
		$	47,203		$	73,601
	Other liabilities
	Deferred compensation plan	$	30,983		$	33,211
	Other accounts	6,899			13,043
		$	37,882		$	46,254

Properties_and_Equipment_Net_D

Properties and Equipment, Net (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Properties and Equipment, Net	'	'
Proved oil and gas properties	$6,676,002	$6,362,570
Unproved oil and gas properties	365,186	375,428
Gathering and pipeline systems	239,925	239,958
Land, building and other equipment	97,082	94,243
Properties and Equipment, gross, total	7,378,195	7,072,199
Accumulated depreciation, depletion and amortization	-2,667,626	-2,525,972
Properties and Equipment, Net	$4,710,569	$4,546,227

Properties_and_Equipment_Net_D1

Properties and Equipment, Net (Details 2)	3 Months Ended
	Mar. 31, 2014
Properties and Equipment, Net	'
Minimum term of capitalization of exploratory well costs	'1 year

Equity_Method_Investment_Detai

Equity Method Investment (Details) (Meade Pipeline Co LLC, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Feb. 28, 2014
	mi
Equity Method Investment	'	'
Ownership interest (as a percent)	'	20.00%
Length of pipeline to be constructed (in miles)	177	'
Amount of investment	'	$149
Minimum	'	'
Equity Method Investment	'	'
Number of years of investment expected to occur	'3 years	'
Maximum	'	'
Equity Method Investment	'	'
Number of years of investment expected to occur	'4 years	'

Debt_and_Credit_Agreements_Det

Debt and Credit Agreements (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Apr. 15, 2014

7.33% weighted-average fixed rate notes

7.33% weighted-average fixed rate notes

6.51% weighted-average fixed rate notes

6.51% weighted-average fixed rate notes

9.78% notes

9.78% notes

5.58% weighted-average fixed rate notes

5.58% weighted-average fixed rate notes

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Subsequent event

Debt

'

'

'

'

'

'

'

'

'

'

'

'

'

Total debt

'

'

$20,000,000

$20,000,000

$425,000,000

$425,000,000

$67,000,000

$67,000,000

$175,000,000

$175,000,000

$535,000,000

$460,000,000

'

Long-term debt

1,222,000,000

1,147,000,000

'

'

'

'

'

'

'

'

535,000,000

'

'

Weighted-average interest rate (as a percent)

'

'

7.33%

7.33%

6.51%

6.51%

'

'

5.58%

5.58%

2.20%

'

'

Availability under the credit facility

'

'

'

'

'

'

'

'

'

'

864,000,000

'

'

Interest rate (as a percent)

'

'

'

'

'

'

9.78%

9.78%

'

'

'

'

'

Borrowing base prior to approval

'

'

'

'

'

'

'

'

'

'

'

'

2,300,000,000

Borrowing base

'

'

'

'

'

'

'

'

'

'

'

'

3,100,000,000

Line of credit

'

'

'

'

'

'

'

'

'

'

$1,400,000,000

'

'

Derivative_Instruments_and_Hed2

Derivative Instruments and Hedging Activities (Details) (Derivatives Designated as Hedging Instruments)	Mar. 31, 2014
	MMcf
Natural Gas Collars with contract period of Apr. 2014 - Dec. 2014	'
Derivative disclosures	'
Volume	253,800
Natural Gas Collars with contract period of Apr. 2014 - Dec. 2014 | Minimum	'
Derivative disclosures	'
Collar Floor Price	3.6
Collar Ceiling Price	4.22
Natural Gas Collars with contract period of Apr. 2014 - Dec. 2014 | Maximum	'
Derivative disclosures	'
Collar Floor Price	4.37
Collar Ceiling Price	4.8
Natural Gas Collars with contract period of Apr. 2014 - Dec. 2014 | Weighted Average	'
Derivative disclosures	'
Collar Floor Price	4.13
Collar Ceiling Price	4.51
Natural Gas Swaps with contract period of Apr. 2014 - Dec. 2014 | Weighted Average	'
Derivative disclosures	'
Volume	80,100
Swaps Weighted Average	4.05
Crude Oil Swaps with contract period of Apr. 2014 - Dec. 2014 | Weighted Average	'
Derivative disclosures	'
Volume	550
Swaps Weighted Average	97

Derivative_Instruments_and_Hed3

Derivative Instruments and Hedging Activities (Details 2) (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Effect of derivative instruments on the Consolidated Balance Sheet	'	'
Fair Value Asset	'	$3,019,000
Fair Value Liability	73,428,000	13,912,000
Unrealized losses included in accumulated other comprehensive income, pretax	73,400,000	10,900,000
Unrealized gain (loss) included in accumulated other comprehensive income, net of tax	-44,200,000	6,600,000
Expected reclassification of income (loss) from commodity hedges over the next 9 months	44,200,000	'
Derivatives Designated as Hedging Instruments | Commodity contracts | Other current assets	'	'
Effect of derivative instruments on the Consolidated Balance Sheet	'	'
Fair Value Asset	'	3,019,000
Derivatives Designated as Hedging Instruments | Commodity contracts | Derivative instruments (current liabilities)	'	'
Effect of derivative instruments on the Consolidated Balance Sheet	'	'
Fair Value Liability	$73,428,000	$13,912,000

Derivative_Instruments_and_Hed4

Derivative Instruments and Hedging Activities (Details 3) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivative Assets	'	'
Gross amounts of recognized assets	$4,041	$13,792
Gross amounts offset in the statement of financial position	-4,041	-10,773
Net amounts of assets presented in the statement of financial position	'	3,019
Gross amounts financial instrument not offset in the statement of financial position	'	373
Net amount	'	3,392
Derivative Liabilities	'	'
Gross amounts of recognized liabilities	77,469	24,685
Gross amounts offset in the statement of financial position	-4,041	-10,773
Net amounts of liabilities presented in the statement of financial position	73,428	13,912
Gross amounts of financial instruments not offset in the statement of financial position	218	'
Net amount	$73,646	$13,912

Derivative_Instruments_and_Hed5

Derivative Instruments and Hedging Activities (Details 4) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Effect of derivative instruments on the Consolidated Statement of Operations	'	'
Ineffectiveness related to derivative instruments	$0	$0
Derivatives Designated as Hedging Instruments	'	'
Effect of derivative instruments on the Consolidated Statement of Operations	'	'
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (effective portion)	-70,775	15,370
Derivatives Designated as Hedging Instruments | Natural Gas Revenues	'	'
Effect of derivative instruments on the Consolidated Statement of Operations	'	'
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (effective portion)	-70,557	13,328
Derivatives Designated as Hedging Instruments | Crude Oil and Condensate Revenues	'	'
Effect of derivative instruments on the Consolidated Statement of Operations	'	'
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (effective portion)	-218	2,042
Derivatives Designated as Hedging Instruments | Commodity contracts	'	'
Effect of derivative instruments on the Consolidated Statement of Operations	'	'
Amount of gain (loss) recognized in other comprehensive income (loss) on derivative (effective portion)	($133,310)	($60,946)

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	item	item
Financial Assets and Liabilities Fair Value Measurement	'	'	'
Number of non-financial assets and liabilities impaired	0	0	'
Assets	'	'	'
Deferred compensation plan	$12,886	'	$12,507
Derivative contracts	4,041	'	13,792
Total assets	16,927	'	26,299
Liabilities	'	'	'
Deferred compensation plan	30,983	'	33,211
Derivative contracts	77,469	'	24,685
Total liabilities	108,452	'	57,896
Transfer of Assets from Level 1 to Level 2	0	0	'
Transfer of Liabilities from Level 1 to Level 2	0	0	'
Transfer of Assets from Level 2 to Level 1	0	0	'
Transfer of Liabilities from Level 2 to Level 1	0	0	'
Non-recurring basis	'	'	'
Assets	'	'	'
Total assets	0	'	'
Non-financial assets	0	'	'
Liabilities	'	'	'
Total liabilities	0	'	'
Non-financial liabilities	0	'	'
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis	'	'	'
Assets	'	'	'
Deferred compensation plan	12,886	'	12,507
Total assets	12,886	'	12,507
Liabilities	'	'	'
Deferred compensation plan	30,983	'	33,211
Total liabilities	30,983	'	33,211
Significant Other Observable Inputs (Level 2) | Recurring basis	'	'	'
Liabilities	'	'	'
Derivative contracts	13,060	'	6,983
Total liabilities	13,060	'	6,983
Significant Unobservable Inputs (Level 3) | Recurring basis	'	'	'
Assets	'	'	'
Derivative contracts	4,041	'	13,792
Total assets	4,041	'	13,792
Liabilities	'	'	'
Derivative contracts	64,409	'	17,702
Total liabilities	$64,409	'	$17,702

Fair_Value_Measurements_Detail1

Fair Value Measurements (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy	'	'
Balance at beginning of period	($3,910)	$41,159
Total gains or (losses) (realized or unrealized):	'	'
Included in earnings	-62,285	13,328
Included in other comprehensive income	-56,458	-71,058
Settlements	62,285	-13,328
Balance at end of period	-60,368	-29,899
Transfers between Level 1 and Level 2 measurements	$0	$0

Fair_Value_Measurements_Detail2

Fair Value Measurements (Details 3) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Carrying Amount	'	'
Fair value disclosures	'	'
Long-term debt	$1,222,000	$1,147,000
Estimated Fair Value	'	'
Fair value disclosures	'	'
Long-term debt	$1,325,174	$1,224,273

Asset_Retirement_Obligation_De

Asset Retirement Obligation (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Asset Retirement Obligation	'
Balance at the beginning of the period	$75,853,000
Liabilities incurred	1,647,000
Liabilities divested	-899,000
Accretion expense	1,003,000
Balance at the end of the period	77,604,000
Asset retirement obligation, current	$2,000,000

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (Transportation and Gathering Agreements, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Transportation and Gathering Agreements	'
Commitments and Contingencies	'
Amount of increase in the future aggregate obligations under the transportation commitments	$180.30
Period over which increase in transportation and gathering agreements obligation is affected	'10 years

Commitments_and_Contingencies_1

Commitments and Contingencies (Details 2) (Pennsylvania Department of Environmental Protection (PaDEP), USD $)	0 Months Ended	24 Months Ended
In Millions, unless otherwise specified	Oct. 18, 2012	Dec. 31, 2011	Nov. 18, 2011	Dec. 15, 2010
	item			item
Pennsylvania Department of Environmental Protection (PaDEP)	'	'	'	'
Environmental Matters	'	'	'	'
Modified Consent Order, number of households to be supplied with potable water	'	'	'	14
Aggregate amount of fines and civil penalties paid to PaDEP	'	$1.30	'	'
Aggregate amount of settlement paid to and accepted by the appellants	'	'	$2.20	'
Number of appellants who were allowed by PEHB to reinstate their appeal	3	'	'	'

Postretirement_Benefits_Detail

Postretirement Benefits (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Components of Net Periodic Benefit Cost	'	'
Service Cost	$456	$415
Interest Cost	407	395
Amortization of net loss	'	205
Net periodic pension cost	$863	$1,015

Stockbased_Compensation_Detail

Stock-based Compensation (Details) (USD $)

3 Months Ended

0 Months Ended

3 Months Ended

In Millions, except Share data, unless otherwise specified

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Feb. 20, 2014

Mar. 31, 2014

Supplemental Employee Incentive Plan IV

Supplemental Employee Incentive Plan IV

Restricted Stock Awards

Restricted Stock Units

Performance Share Awards

Performance Share Awards

Performance Share Awards Based on Internal Performance Metrics

Employee Performance Share Awards

Hybrid Performance Share Awards

Performance Shares Based on Market Conditions

TSR Performance Share Awards

TSR Performance Share Awards

Minimum

Maximum

Maximum

Maximum

item

Stock-based Compensation arrangements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock based compensation expense

$3.20

$18.70

$1.50

$3.40

'

'

'

'

'

'

'

'

'

'

Tax benefits realized for stock-based compensation

16

2.1

'

'

'

'

'

'

'

'

'

'

'

'

Granted (in shares)

'

'

'

'

44,000

32,203

'

'

'

241,130

123,257

'

'

184,885

Granted (in dollars per share)

'

'

'

'

$35

$39.33

'

'

'

$39.43

$39.43

'

'

'

Number of years over which performance criteria is to be met

'

'

'

'

'

'

'

'

'

'3 years

'

'

'

'3 years

Annual forfeiture rate assumption (as a percent)

'

'

'

'

5.00%

'

0.00%

5.00%

'

'

'

'

'

'

Right to receive shares (as a percent)

'

'

'

'

'

'

'

'

100.00%

'

'

100.00%

'

'

Vesting rights

'

'

'

'

'

'

'

'

'

'

'The 2014 awards vest 25% on each of the first and second anniversary dates and 50% on the third anniversary

'

'

'

Minimum operating cash flow for the year preceding the performance period

'

'

'

'

'

'

'

'

'

'

$100

'

'

'

Right to receive additional shares (as a percent)

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

Number of other companies in the Company's peer group

'

'

'

'

'

'

'

'

'

'

'

'

'

14

Assumptions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair value per performance share award (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

$32.04

'

Fair value per performance share award Assumptions, low end of range (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

$9.58

Fair value per performance share award Assumptions, high end of range (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

$25.37

Stock price volatility (as a percent)

'

'

37.50%

'

'

'

'

'

'

'

'

'

41.30%

'

Stock Price Volatility, low end of range (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

30.70%

Stock Price Volatility, high end of range (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

78.70%

Risk free rate of return (as a percent)

'

'

1.10%

'

'

'

'

'

'

'

'

'

0.70%

'

Risk free rate of return, low end of range (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

0.10%

Risk free rate of return, high end of range (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

0.80%

Expected dividend yield (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

0.20%

0.20%

Annual salary increase rate (as a percent)

'

'

4.00%

'

'

'

'

'

'

'

'

'

'

'

Annual turnover rate

'

'

4.60%

'

'

'

'

'

'

'

'

'

'

'

Earnings_per_Common_Share_Deta

Earnings per Common Share (Details)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings per Common Share	'	'
Weighted-average shares - basic	416,900	420,300
Dilution effect of stock appreciation rights and stock awards at end of period (in shares)	1,613	2,452
Weighted-average shares - diluted	418,513	422,752
Weighted-average shares excluded from diluted earnings per share due to the anti-dilutive effect	272	368

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income / (Loss) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
		Net Gains/ (Losses) on Cash Flow Hedges	Postretirement Benefits	Postretirement Benefits
Changes in accumulated other comprehensive income / (loss) by component, net of tax	'	'	'	'
Balance at beginning of period	($8,361)	($6,551)	($1,810)	($1,810)
Other comprehensive income before reclassifications	-80,175	-80,175	'	'
Amounts reclassified from accumulated other comprehensive income	42,565	42,565	'	'
Net current-period other comprehensive income	-37,610	-37,610	'	'
Balance at end of period	($45,971)	($44,161)	($1,810)	($1,810)

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Income / (Loss) (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Line items in income statement impacted by reclassifications out of accumulated other comprehensive income	'	'
Natural gas revenues	$432,809	$293,793
Crude oil and condensate revenues	59,144	65,655
Income before income taxes	177,930	70,759
Tax (expense) / benefit	-70,899	-27,935
NET INCOME	107,031	42,824
Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Line items in income statement impacted by reclassifications out of accumulated other comprehensive income	'	'
Income before income taxes	-70,775	15,165
Tax (expense) / benefit	28,210	-5,965
NET INCOME	-42,565	9,200
Net gains / (losses) on cash flow hedges | Amount Reclassified from Accumulated Other Comprehensive Income | Commodity contracts	'	'
Line items in income statement impacted by reclassifications out of accumulated other comprehensive income	'	'
Natural gas revenues	-70,557	13,328
Crude oil and condensate revenues	-218	2,042
Postretirement benefits | Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Line items in income statement impacted by reclassifications out of accumulated other comprehensive income	'	'
Amortization of net loss	'	($205)

ADDITIONAL_BALANCE_SHEET_INFOR2

ADDITIONAL BALANCE SHEET INFORMATION (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Accounts receivable, net	'	'
Trade accounts	$242,367	$215,361
Joint interest accounts	3,469	7,261
Income taxes receivable	532	922
Other accounts	516	746
Accounts receivable, gross	246,884	224,290
Allowance for doubtful accounts	-1,811	-1,814
Accounts receivable, net	245,073	222,476
Inventories	'	'
Natural gas in storage	3,169	9,056
Tubular goods and well equipment	7,193	8,396
Other accounts	30	16
Inventory, net	10,392	17,468
Other current assets	'	'
Prepaid balances and other	1,415	2,587
Derivative instruments	'	3,019
Other current assets	1,415	5,606
Other assets	'	'
Deferred compensation plan	12,886	12,507
Debt issuance costs	15,350	16,476
Equity method investment	32,971	26,892
Other accounts	169	79
Other assets	61,376	55,954
Accounts payable	'	'
Trade accounts	56,956	26,023
Natural gas purchases	2,933	2,052
Royalty and other owners	83,902	79,150
Accrued capital costs	120,091	146,899
Taxes other than income	18,869	13,677
Drilling advances	8,334	14,093
Producer gas imbalances	69	69
Other accounts	6,531	6,838
Accounts payable current	297,685	288,801
Accrued liabilities	'	'
Employee benefits	24,645	43,599
Taxes other than income	6,797	6,894
Interest payable	12,637	20,211
Other accounts	3,124	2,897
Accrued liabilities	47,203	73,601
Other liabilities	'	'
Deferred compensation plan	30,983	33,211
Other accounts	6,899	13,043
Other liabilities	$37,882	$46,254