Supplemental Oil and Natural Gas Disclosures (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2012

Supplemental Oil and Natural Gas Disclosures (Unaudited) [Abstract]

Summarizes costs incurred and capitalized by the Company in the acquisition, exploration, and development of oil and natural gas properties

	Year ended December 31,
	2012		2011		2010
Property acquisition costs
Proved	$	–	$	–	$	–
Unproved and unevaluated		28,672		41,497		100,730
Exploration costs		115,084		108,662		60,719
Development costs		190,891		12,511		14,348
Total costs incurred	$	334,647	$	162,670	$	175,797

Summary of results of operations from oil and gas producing activities, excluding corporate overhead and interest costs

	Year ended December 31,
	2012			2011			2010
Oil and natural gas revenues	$	155,998		$	67,000		$	34,042
Production taxes and marketing expenses		11,672			6,278			1,982
Lease operating expenses		28,184			7,244			5,284
Depletion, depreciation and amortization		79,592			31,619			15,423
Accretion of asset retirement obligations		256			209			155
Full-cost ceiling impairment		63,475			35,673			–
Net operating (loss) income		(27,181	)		(14,023	)		11,198
Income tax (benefit) provision		(9,595	)		(5,019	)		3,983
Results of oil and natural gas operations	$	(17,586	)	$	(9,004	)	$	7,215
Depletion, depreciation and amortization per BOE	$	24.16		$	12.29		$	10.76

Summary of Estimated reserves

	Net Proved Reserves
	Oil			Gas			Oil Equivalent
	(MBbl)			(MMcf)			(MBOE)
Total at December 31, 2009		103			63,929			10,758
Revisions of prior estimates		66			874			211
Extensions and discoveries		16			71,009			11,851
Production		(33	)		(8,400	)		(1,433	)
Total at December 31, 2010		152			127,412			21,387
Revisions of prior estimates		51			(646	)		(57	)
Extensions and discoveries		3,745			58,164			13,439
Production		(154	)		(14,512	)		(2,573	)
Total at December 31, 2011		3,794			170,418			32,196
Revisions of prior estimates		(782	)		(103,375	)		(18,010	)
Extensions and discoveries		8,687			25,443			12,927
Production		(1,214	)		(12,479	)		(3,294	)
Total at December 31, 2012		10,485			80,007			23,819
Proved Developed Reserves
December 31, 2009		103			25,369			4,331
December 31, 2010		152			43,143			7,342
December 31, 2011		1,419			56,547			10,843
December 31, 2012		4,764			54,040			13,771
Proved Undeveloped Reserves
December 31, 2009		–			38,560			6,427
December 31, 2010		–			84,269			14,045
December 31, 2011		2,375			113,871			21,353
December 31, 2012		5,721			25,967			10,048

Standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves

	Year ended December 31,
	2012			2011			2010
Future cash inflows	$	1,273,882		$	924,796		$	470,386
Future production costs		(325,413	)		(194,538	)		(107,183	)
Future development costs		(244,283	)		(235,469	)		(107,277	)
Future income tax expense		(77,821	)		(83,840	)		(35,352	)
Future net cash flows		626,365			410,949			220,574
10% annual discount for estimated timing of cash flows		(231,729	)		(195,476	)		(109,497	)
Standardized measure of discounted future net cash flows	$	394,636		$	215,473		$	111,077

Summarizes of changes in standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves

	Year ended December 31,
	2012			2011			2010
Balance, beginning of period	$	215,473		$	111,077		$	65,061
Net change in sales and transfer prices and in production (lifting) costs related to future production		(60,892	)		53,903			7,632
Changes in estimated future development costs		16,937			(64,958	)		(36,821	)
Sales and transfers of oil and natural gas produced during the period		(116,142	)		(53,478	)		(26,776	)
Net change due to extensions and discoveries		358,159			182,282			94,265
Net change due to revisions in estimates of reserves quantities		(56,850	)		(653	)		1,676
Previously estimated development costs incurred during the period		9,750			1,023			7,125
Accretion of discount		24,873			11,987			7,036
Other		(290	)		(1,335	)		1,035
Net change in income taxes		3,618			(24,375	)		(9,156	)
Standardized measure of discounted future net cash flows	$	394,636		$	215,473		$	111,077