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Commitments
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12 Months Ended |
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Dec. 31, 2011
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| Commitments [Abstract] | |
| Commitments |
17. Commitments We have operating lease agreements for office space and office equipment. The lease for the majority of our office space terminates in December 2022. Minimum future lease payments due under noncancelable operating leases with terms in excess of one year as of December 31, 2011 are as follows (in millions): 2012 – $0.3; 2013 – $1.2; 2014 – $1.1; thereafter – $10.0. Total rent expense was approximately $1.9 million, $2.0 million and $2.2 million during the years 2011, 2010 and 2009, respectively. Pursuant to the Purchase and Sale Agreement with Total, we are required to fulfill security requirements through bonds or making payments to an escrow account. Additional security requirements are nil in 2012, $9.0 million in 2013, $9.0 million in 2014, $9.0 million in 2015 and $30.0 million in the 2016 to 2023 time period. We have one drilling rig commitment with a term that exceeded one year as of December 31, 2011 and our drilling rig commitments meet the criteria of an operating lease. Future payments of all drilling rig commitments as of December 31, 2011 were $32.1 million in 2012, $1.7 million in 2013 and none beyond 2013. |
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- Details
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- Definition
The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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