Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

 v2.3.0.11
Fair Value Measurements
 6 Months Ended
Jun. 30, 2011
Fair Value Measurements  
Fair Value Measurements
15.   FAIR VALUE MEASUREMENTS

公司的所有金融和非金融资产和负债均遵循FASB ASC 820. FASB ASC 820将公允价值定义为在计量日im体育平台官方网站参与者之间有序交易中出售资产或转让负债（退出价格）所收到的价格. 该报表将im体育平台官方网站输入或可观察输入确定为价值的首选来源, 其次体育平台是在没有im体育平台官方网站投入的情况下基于假设交易的假设. 该声明要求公允价值计量按下列类别之一进行分类和披露：

Level 1 – Quoted prices in active markets for identical assets and liabilities.

Level 2 – Quoted prices in active markets for similar assets and liabilities, 相同或类似金融工具在非活跃im体育平台官方网站上的报价，以及输入可观察到或重要价值驱动因素可观察到的模型衍生估值.

Level 3 – Significant inputs to the valuation model are unobservable.

金融资产和负债按对公允价值计量具有重要意义的最低投入水平进行分类.

 

下表按FASB ASC 820估值水平总结了截至6月30日公司的金融资产和负债, 2011:

 

     Level 1      Level 2      Level 3  

Assets:

         

Forward sales contracts

    $ —         $ —         $ —     

Liabilities:

         

Forward sales contracts

    $ —         $ 3,431,000       $ —     

本公司的固定价格掉期的公允价值估计体育平台是基于基于im体育平台官方网站报价的远期商品价格, adjusted for differentials.

公司根据FASB会计准则主题410的规定估计资产退休义务, "Asset Retirement and Environmental Obligations" ("FASB ASC 410"). 资产退休义务的初始计量以公允价值计算，采用贴现现金流技术，并基于对与油气资产相关的未来退休成本的内部估计. Given the unobservable nature of the inputs, including plugging costs and reserve lives, 资产退休义务负债的初始计量被视为使用第三层输入. See Note 3 for further discussion of the Company's asset retirement obligations. Asset retirement obligations incurred during the six months ended June 30, 2011 were approximately $449,000.

随附的合并资产负债表上现金和现金等价物的账面金额, accounts receivable, accounts payable and accrued liabilities, and current and long-term debt are carried at cost, which approximates market value.