Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

As of June 30, 2013, the Company had entered into the following commodity derivative instruments:



Production Period	Instrument Type	Daily Volumes	Weighted Average Price
Natural Gas:
July - December 2013	Three-Way Collar	10,000 Mmbtu	$2.00-$3.00-$4.09
July - December 2013	Swap	30,000 Mmbtu	$3.78
July - December 2013	Collar	5,000 Mmbtu	$4.00 - $4.75
2014	Swap	10,000 Mmbtu	$4.08

Crude Oil:
July - December 2013	Swap	500 Bbls	$100.87
2014	Swap	250 Bbls	$92.50

Effect of Cash Flow Hedges on the Consolidated Balance Sheet

Effect of Cash Flow Hedges on the Consolidated Balance Sheet at June 30, 2013 and December 31, 2012:



	Commodity Derivatives
Period	Balance Sheet Location	Fair Value
June 30, 2013	Derivative asset (short-term)	$	1,999
June 30, 2013	Derivative asset (long-term)	$	388
June 30, 2013	Derivative liability (short-term)	$	(129	)
December 31, 2012	Derivative asset (short-term)	$	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 June 30, 2013 and 2012:



Instrument	Amount of Gain (Loss) Recognized in Other Comprehensive Income			Location of Gain (loss) Reclassified into Income	Amount of Gain (Loss) Reclassified into Income
Commodity Derivatives at June 30, 2013	$	4,807		Oil and gas sales	$	(878	)
Commodity Derivatives at June 30, 2012	$	(1,772	)	Oil and gas sales	$	3,877

Effect of Cash Flow Hedges on the Consolidated Statement of Operations for the six months ended June 30, 2013 and 2012 :



Instrument	Amount of Gain (Loss) Recognized in Other Comprehensive Income			Location of Gain (Loss) Reclassified into Income	Amount of Gain (Loss) Reclassified into Income
Commodity Derivatives at June 30, 2013	$	897		Oil and gas sales	$	(491	)
Commodity Derivatives at June 30, 2012	$	(1,008	)	Oil and gas sales	$	5,979

Effect of Non-designated Derivative Instruments

Effect of Non-designated Derivative Instruments on the Consolidated Balance Sheet at June 30, 2013 and December 31, 2012:



	Commodity Derivatives
Period	Balance Sheet Location	Fair Value
June 30, 2013	Derivative liability (short-term)	$	(76	)
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 June 30, 2013 and 2012:



Instrument	Amount of Unrealized Gain (Loss) Recognized in Derivative Expense
Commodity Derivatives at June 30, 2013	$	594
Commodity Derivatives at June 30, 2012	$	(375	)

Effect of Non-designated Derivative Instruments on the Consolidated Statement of Operations for the six months ended June 30, 2013 and 2012:



Instrument	Amount of Unrealized Gain (Loss) Recognized in Derivative Expense
Commodity Derivatives at June 30, 2013	$	157
Commodity Derivatives at June 30, 2012	$	(375	)

- 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