Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2012	Dec. 31, 2011
ASSETS
Cash and cash equivalents	$ 2,373,853	$ 10,284,180
Certificates of deposit	727,000	1,335,000
Accounts receivable
Oil and natural gas revenues	17,802,280	9,237,322
Joint interest billings	2,724,842	2,488,070
Other	1,099,885	1,446,113
Derivative instruments	10,908,380	8,988,767
Lease and well equipment inventory	1,343,416	1,343,416
Prepaid expenses	1,697,292	1,153,214
Total current assets	38,676,948	36,276,082
Property and equipment, at cost
Evaluated	489,385,342	423,944,476
Unproved and unevaluated	162,921,922	162,597,985
Other property and equipment	21,304,688	18,764,038
Less accumulated depletion, depreciation and amortization	(216,647,175)	(205,441,724)
Net property and equipment	456,964,777	399,864,775
Other assets
Derivative instruments	917,385	847,267
Deferred income taxes		1,593,331
Other assets	874,122	887,061
Total other assets	1,791,507	3,327,659
Total assets	497,433,232	439,468,516
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	5,868,441	18,841,295
Accrued liabilities	43,440,919	25,438,893
Royalties payable	3,196,701	1,855,296
Borrowings under Credit Agreement		25,000,000
Derivative instruments	3,089,211	171,252
Deferred income taxes	2,396,156	3,023,760
Dividends payable - Class B		68,713
Other current liabilities	53,697	176,868
Total current liabilities	58,045,125	74,576,077
Long-term liabilities
Borrowings under Credit Agreement	15,000,000	88,000,000
Asset retirement obligations	4,136,370	3,935,084
Derivative instruments	2,724,273	382,848
Deferred income taxes	2,098,105
Other long-term liabilities	1,333,242	1,059,314
Total long-term liabilities	25,291,990	93,377,246
Commitments and contingencies (Note 10)
Shareholders' equity
Additional paid-in capital	402,244,834	263,561,890
Retained earnings	22,051,585	18,278,652
Treasury stock, at cost, 1,179,175 shares	(10,764,822)	(10,764,822)
Total shareholders' equity	414,096,117	271,515,193
Total liabilities and shareholders' equity	497,433,232	439,468,516
Class A [Member]
Shareholders' equity
Common stock	564,520	429,166
Class B [Member]
Shareholders' equity
Common stock		$ 10,307