Subsequent Events (Tables)

6 Months Ended

2 Months Ended

Jun. 30, 2012

Aug. 31, 2012

Subsequent event

Subsequent Events

Schedule of entity's new commodity positions

	Hedged Volume	Weighted-Average Fixed Price
Oil (Bbls):
WTI Swaps — 2012	411,100	$		84.36
WTI Swaps — 2013	679,125			84.73
WTI Swaps — 2014	262,450			83.00
WTI Collars — 2012	82,800	$	85.00  -	127.28
WTI Deferred Premium Puts — 2012 (1)	276,000	$		79.01
WTI Basis Differential Swaps — 2012 (2)	505,300	$		9.73
WTI Basis Differential Swaps — 2013 (2)	679,125			6.30
LLS Swaps - 2012	315,180	$		116.55
Brent Swaps - 2013	1,021,749	$		111.89

(1)2012 deferred premium puts represent the net effective floor price of a put with a strike price of $85.00/Bbl and a deferred premium of $5.99/Bbl. The premiums for these instruments are paid each month, concurrently with the settlement of the monthly put contracts.

(2)The Company enters into swap arrangements intended to capture the positive differential between the Louisiana Light Sweet (“LLS”) pricing and West Texas Intermediate (“NYMEX WTI”) pricing.

	Hedged Volume	Weighted-Average Fixed Price
Oil (Bbls):
Swaps – 2012	644,130	$		95.77
Swaps – 2013	1,700,874	95.55
Swaps – 2014	262,450	83.00
Collars – 2012	68,850	$	85.00 - $	127.28
Deferred Premium Puts – 2012 (1)	229,500	$		79.01
Basis Differential Swaps – 2012 (2)	789,480	$		9.81
Basis Differential Swaps – 2013 (2)	1,700,874	$		5.91