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Derivative Financial Instruments (Tables) (Open costless collar contracts [Member])
9 Months Ended
Sep. 30, 2012
Open costless collar contracts [Member]
 
Open Option Contracts Written [Line Items]  
Summary of contracts for oil and natural gas
                                     

Commodity

 

Calculation Period

  Notional
Quantity

(Bbl/month)
    Price Floor
($/Bbl)
    Price
Ceiling

($/Bbl)
    Fair Value  of
Asset
(thousands)
 

Oil

  10/01/2012 - 12/31/2012     20,000       90.00       104.20     $ 113  

Oil

  10/01/2012 - 12/31/2012     10,000       90.00       108.00       65  

Oil

  10/01/2012 - 12/31/2012     10,000       90.00       109.50       68  

Oil

  10/01/2012 - 12/31/2012     20,000       90.00       111.00       139  

Oil

  10/01/2012 - 12/31/2012     20,000       90.00       111.90       141  

Oil

  10/01/2012 - 12/31/2012     20,000       95.00       116.00       291  

Oil

  10/01/2012 - 03/31/2013     20,000       90.00       110.00       356  

Oil

  01/01/2013 - 12/31/2013     20,000       85.00       102.25       61  

Oil

  01/01/2013 - 12/31/2013     20,000       90.00       115.00       1,233  

Oil

  01/01/2013 - 12/31/2013     20,000       85.00       110.40       598  

Oil

  01/01/2013 - 12/31/2013     20,000       85.00       108.80       515  

Oil

  01/01/2013 - 06/30/2014     8,000       90.00       114.00       794  

Oil

  01/01/2013 - 06/30/2014     12,000       90.00       115.50       1,242  
                               

 

 

 

Total Oil (open costless collar contracts)

                              $   5,616  
           

Commodity

 

Calculation Period

  Notional
Quantity

(MMBtu/month)
    Price Floor
($/MMBtu)
    Price
Ceiling

($/MMBtu)
    Fair Value of
Asset
(Liability)

(thousands)
 

Natural Gas

  10/01/2012 - 12/31/2012     300,000       4.50       5.60     $ 1,067  

Natural Gas

  10/01/2012 - 12/31/2012     150,000       4.25       6.17       424  

Natural Gas

  10/01/2012 - 12/31/2012     70,000       2.50       3.34       (36 )

Natural Gas

  10/01/2012 - 07/31/2013     150,000       4.50       5.75       1,398  

Natural Gas

  10/01/2012 - 12/31/2013     100,000       3.00       3.83       (381 )
                               

 

 

 

Total Natural Gas (open costless collar contracts)

                          $ 2,472  
                             

Commodity

 

Calculation Period

  Notional  Quantity
(Gal/month)
    Fixed Price
($/Gal)
    Fair Value  of
Asset
(Liability)
(thousands)
 

Purity Ethane

  10/01/2012 - 12/31/2012     55,700       0.333     $ —    

Purity Ethane

  10/01/2012 - 12/31/2012     55,700       0.337       —    

Propane

  10/01/2012 - 12/31/2012     27,000       0.945       1  

Propane

  10/01/2012 - 12/31/2012     27,000       0.992       5  

Normal Butane

  10/01/2012 - 12/31/2012     7,500       1.465       —    

Normal Butane

  10/01/2012 - 12/31/2012     7,500       1.580       3  

Isobutane

  10/01/2012 - 12/31/2012     4,000       1.535       (2 )

Isobutane

  10/01/2012 - 12/31/2012     4,000       1.675       (1 )

Natural Gasoline

  10/01/2012 - 12/31/2012     6,000       2.095       2  

Natural Gasoline

  10/01/2012 - 12/31/2012     6,000       2.150       3  

Purity Ethane

  01/01/2013 - 12/31/2013     110,000       0.335       (41 )

Purity Ethane

  01/01/2013 - 12/31/2013     110,000       0.355       (15 )

Propane

  01/01/2013 - 12/31/2013     53,000       0.953       7  

Propane

  01/01/2013 - 12/31/2013     53,000       1.001       38  

Normal Butane

  01/01/2013 - 12/31/2013     14,700       1.455       (3 )

Normal Butane

  01/01/2013 - 12/31/2013     14,700       1.560       16  

Isobutane

  01/01/2013 - 12/31/2013     7,000       1.515       (7 )

Isobutane

  01/01/2013 - 12/31/2013     7,000       1.625       3  

Natural Gasoline

  01/01/2013 - 12/31/2013     12,000       2.085       17  

Natural Gasoline

  01/01/2013 - 12/31/2013     12,000       2.102       19  
                       

 

 

 

Total NGL’s (open swap contracts)

                  $ 45  
                       

 

 

 

Total open derivative financial instruments

                  $   8,133  
                       

 

 

 
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated balance sheets
                     

Type of Instrument

 

Location in Balance Sheet

  September 30,
2012
    December 31,
2011
 

Derivative Instrument

                   

Oil

 

Current assets: Derivative instruments

  $ 3,736     $ —    

Oil

 

Other assets: Derivative instruments

    1,880       —    

Oil

 

Current liabilities: Derivative instruments

    —         (171

Oil

 

Long-term liabilities: Derivative instruments

    —         (383

Natural Gas

 

Current assets: Derivative instruments

    2,610       8,989  

Natural Gas

 

Other assets: Derivative instruments

    —         847  

Natural Gas

 

Long-term liabilities: Derivative instruments

    (138     —    

NGL’s

 

Current assets: Derivative instruments

    49       —    

NGL’s

 

Long-term liabilities: Derivative instruments

    (4     —    
       

 

 

   

 

 

 

Total

      $ 8,133     $ 9,282  
       

 

 

   

 

 

 
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
                                     
        Three Months Ended
September 30,
    Nine Months Ended
September 30,
 

Type of Instrument

 

Location in Statement of Operations

  2012     2011     2012     2011  

Derivative Instrument

                                   

Oil

 

Revenues: Realized gain on derivatives

  $ 374     $ —       $ 1,093     $ —    

Natural Gas

 

Revenues: Realized gain on derivatives

    2,996       1,435       10,053       4,237  

NGL’s

 

Revenues: Realized gain on derivatives

    1       —         1       —    

Realized gain on derivatives

        3,371       1,435       11,147       4,237  

Oil

 

Revenues: Unrealized (loss) gain on derivatives

    (9,053     —         (7,364     —    

Natural Gas

 

Revenues: Unrealized (loss) gain on derivatives

    (3,985     2,870       6,170       1,534  

NGL’s

 

Revenues: Unrealized gain (loss) on derivatives

    45       —         45       —    
       

 

 

   

 

 

   

 

 

   

 

 

 

Unrealized (loss) gain on derivatives

    (12,993     2,870       (1,149     1,534  
       

 

 

   

 

 

   

 

 

   

 

 

 

Total

      $ (9,622   $ 4,305     $ 9,998     $ 5,771