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Investments
12 Months Ended
Dec. 31, 2012
Investments [Abstract]  
Investments
4. Investment
In May 2008, the Company entered into a strategic alliance agreement with Oxane in connection with the development of a proppant product to be used in the Company’s exploration and production program. The Company contributed approximately $2.0 million to Oxane in exchange for warrants to purchase Oxane common stock and for certain exclusive use and preferential purchase rights with respect to the proppant. The Company simultaneously invested an additional $500,000 in a convertible promissory note from Oxane. The convertible promissory note accrued interest at a rate of 6% per annum. During the fourth quarter of 2008, the Company converted the promissory note into 630,371 shares of Oxane preferred stock. As of December 31, 2012 and 2011, the carrying amount of the investment in Oxane was $2.5 million.