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Property, Plant and Equipment

12 Months Ended

Dec. 31, 2011

Property Plant And Equipment Disclosure [Abstract]

5. PROPERTY, PLANT AND EQUIPMENT:

		December 31,
		2011						2010
		Cost		Accumulated Depreciation		Net Book Value		Net Book Value
Gathering systems	$	226,747	$	(7,736)	$	219,011	$	141,817
Computer equipment		2,426		(1,401)		1,025		993
Office equipment		444		(335)		109		124
Leasehold improvements		686		(379)		307		151
Land		22,150		-		22,150		2,437
Other		7,777		(3,793)		3,984		3,582
Property, Plant and Equipment, Net	$	260,230	$	(13,644)	$	246,586	$	149,104

Historically, the Company's condensate production was gathered from its Wyoming well locations by tanker trucks and then shipped to other locations for injection into crude oil pipelines or other facilities. During 2010, the Company initiated service on its final two, of four total, central gathering facilities. These facilities are part of the Company's liquids gathering system designed to gather condensate and water from various leases and wells operated by the Company. The condensate and water are transported to central points in the field where condensate can be loaded into trucks or delivered into pipelines for delivery to the Company's customers. Produced water is disposed of or recycled and re-used. At the end of 2011, more than 80% of the Company's operated condensate production in Wyoming was delivered from the Company's liquids gathering system directly into a pipeline, further reducing truck traffic and improving flow assurance as well as realized pricing.

In Pennsylvania, the Company and its partners continue constructing gas gathering pipelines and facilities, compression facilities and pipeline delivery stations to gather production from its newly completed natural gas wells. Construction on these facilities is expected to continue throughout 2012 allowing the Company to manage its midstream capacity to coincide with increased capacity requirements from its drilling activities. These facilities are gathering systems and related infrastructure, and their construction is expected to continue until the Company's properties in Pennsylvania are fully developed. To date, none of the Company's natural gas production in Pennsylvania has required processing, treating or blending in order to remove natural gas liquids or other impurities and it is anticipated that facilities of this type will not be required in the future to accommodate the Company's production.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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