Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2012

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		01/01/2013 - 03/31/2013		20,000		90.00		110.00	$	122
Oil		01/01/2013 - 12/31/2013		20,000		85.00		102.25		96
Oil		01/01/2013 - 12/31/2013		20,000		90.00		115.00		980
Oil		01/01/2013 - 12/31/2013		20,000		85.00		110.40		471
Oil		01/01/2013 - 12/31/2013		20,000		85.00		108.80		418
Oil		01/01/2013 - 06/30/2014		8,000		90.00		114.00		666
Oil		01/01/2013 - 06/30/2014		12,000		90.00		115.50		1,036
Total open oil costless collar contracts										3,789
Commodity	Calculation Period		Notional Quantity (MMBtu/month)		Price Floor ($/MMBtu)		Price Ceiling ($/MMBtu)		Fair Value of Asset (Liability) (thousands)
Natural Gas		01/01/2013 - 07/31/2013		150,000		4.50		5.75		1,154
Natural Gas		01/01/2013 - 12/31/2013		100,000		3.00		3.83		(146	)
Natural Gas		01/01/2013 - 12/31/2013		100,000		3.00		4.95		40
Natural Gas		01/01/2013 - 12/31/2013		100,000		3.00		4.96		41
Natural Gas		01/01/2014 - 12/31/2014		100,000		3.25		5.37		19
Natural Gas		01/01/2014 - 12/31/2014		100,000		3.25		5.42		27
Total open natural gas costless collar contracts										1,135

Commodity	Calculation Period		Notional Quantity (Bbl/month)		Fixed Price ($/Bbl)		Fair Value of  Liability (thousands)
Oil		01/01/2013 - 12/31/2013		10,000		90.20		(362	)
Oil		01/01/2013 - 12/31/2013		10,000		90.65		(308	)
Total open oil swap contracts								(670	)

Commodity	Calculation Period		Notional Quantity (Gal/month)		Fixed Price ($/Gal)		Fair Value of  Asset (Liability) (thousands)
Purity Ethane		01/01/2013 - 12/31/2013		110,000		0.335		106
Purity Ethane		01/01/2013 - 12/31/2013		110,000		0.355		133
Propane		01/01/2013 - 12/31/2013		53,000		0.953		13
Propane		01/01/2013 - 12/31/2013		53,000		1.001		43
Normal Butane		01/01/2013 - 12/31/2013		14,700		1.455		(29	)
Normal Butane		01/01/2013 - 12/31/2013		14,700		1.560		(10	)
Isobutane		01/01/2013 - 12/31/2013		7,000		1.515		(18	)
Isobutane		01/01/2013 - 12/31/2013		7,000		1.625		(9	)
Natural Gasoline		01/01/2013 - 12/31/2013		12,000		2.025		(8	)
Natural Gasoline		01/01/2013 - 12/31/2013		12,000		2.085		1
Natural Gasoline		01/01/2013 - 12/31/2013		12,000		2.102		3
Total open NGL swap contracts							$	225
Total open derivative financial instruments							$	4,479

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	December 31, 2012			December 31, 2011
Derivative Instrument
Oil	Current assets: Derivative instruments	$	3,064		$	–
Oil	Other assets: Derivative instruments		725			–
Oil	Current liabilities: Derivative instruments		(670	)		(171	)
Oil	Long-term liabilities: Derivative instruments		–			(383	)
Natural Gas	Current assets: Derivative instruments		1,089			8,989
Natural Gas	Other assets: Derivative instruments		46			847
Natural Gas	Long-term liabilities: Derivative instruments		–			–
NGL’s	Current assets: Derivative instruments		225			–
NGL’s	Long-term liabilities: Derivative instruments		–			–
Total		$	4,479		$	9,282

Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations

Type of Instrument	Location in Statement of Operations	Year Ended December 31,
		2012			2011			2010
Derivative Instrument
Oil	Revenues: Realized gain on derivatives	$	2,047		$	–		$	–
Natural Gas	Revenues: Realized gain on derivatives		11,892			7,106			5,299
NGL’s	Revenues: Realized gain on derivatives		21			–			–
Realized gain on derivatives			13,960			7,106			5,299
Oil	Revenues: Unrealized gain (loss) on derivatives		3,673			(554	)		–
Natural Gas	Revenues: Unrealized (loss) gain on derivatives		(8,700	)		5,692			3,139
NGL’s	Revenues: Unrealized gain on derivatives		225			–			–
Unrealized (loss) gain on derivatives			(4,802	)		5,138			3,139
Total		$	9,158		$	12,244		$	8,438