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Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

As of March 31, 2013, the Company had entered into the following oil and gas contracts:



Production Period	Instrument Type	Daily Volumes	Weighted Average Price
Natural Gas:
April - December 2013	Three-Way Collar	10,000 Mmbtu	$2.00-$3.00-$4.09
April - December 2013	Swap	30,000 Mmbtu	$3.78
2014	Swap	10,000 Mmbtu	$4.08

Crude Oil:
April - December 2013	Swap	250 Bbls	$104.75

Effect of Cash Flow Hedges on the Consolidated Balance Sheet

Effect of Cash Flow Hedges on the Consolidated Balance Sheet at March 31, 2013 and December 31, 2012:



	Commodity Derivatives
Period	Balance Sheet Location	Fair Value
March 31, 2013	Derivative liability (short-term)	$	(3,137	)
March 31, 2013	Derivative liablity (long-term)	$	(251	)
December 31, 2012	Derivative asset	$	830

Effect of Cash Flow Hedges on the Consolidated Statement of Operations

Effect of Cash Flow Hedges on the Consolidated Statement of Operations for the three months ended March 31, 2013 and 2012:



Instrument	Amount of Gain (Loss) Recognized in Other Comprehensive Income			Location of Gain Reclassified into Income	Amount of Gain Reclassified into Income
Commodity Derivatives at March 31, 2013	$	(3,910	)	Oil and gas sales	$	387
Commodity Derivatives at March 31, 2012	$	764		Oil and gas sales	$	2,102

Effect of Non-designated Derivative Instruments

Effect of Non-designated Derivative Instruments on the Consolidated Balance Sheet at March 31, 2013 and December 31, 2012:



	Commodity Derivatives
Period	Balance Sheet Location	Fair Value
March 31, 2013	Derivative liability (short-term)	$	(670	)
December 31, 2012	Derivative liability (short-term)	$	(233	)

Effect of Non-designated Derivative Instruments on the Consolidated Statement of Operations for the three months ended March 31, 2013 and 2012:



Instrument	Amount of Unrealized Loss Recognized in Derivative Expense
Commodity Derivatives at March 31, 2013	$	437
Commodity Derivatives at March 31, 2012	$	—

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details