Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Oil and gas contracts

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

Production Period	Instrument Type	Daily Volumes		Weighted Average Price
Natural Gas:
October - December 2013	Three-Way Collar	10,000 Mmbtu		$2.00-$3.00-$4.09
October - December 2013	Swap	30,000 Mmbtu		$3.78
October - December 2013	Collar	5,000 Mmbtu		$4.00 - $4.75
2014	Swap	20,000 Mmbtu		$4.04
Crude Oil:
October - December 2013	Swap	1,350 Bbls	(1)	$102.45
January - June 2014	Swap	200 Bbls	(3)	$101.30
2014	Swap	750 Bbls	(2)	$97.47
Natural Gas Liquids:
October - December 2013	Swap	150 Bbls		$92.42

Effect of Cash Flow Hedges on the Consolidated Balance Sheet

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

	Commodity Derivatives
Period	Balance Sheet Location	Fair Value
September 30, 2013	Derivative asset (short-term)	$	2,274
September 30, 2013	Derivative asset (long-term)	$	305
September 30, 2013	Derivative liability (short-term)	$	(445	)
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 September 30, 2013 and 2012:

Instrument	Amount of Loss Recognized in Other Comprehensive Income			Location of Gain Reclassified into Income	Amount of Gain Reclassified into Income
Commodity Derivatives at September 30, 2013	$	(78	)	Oil and gas sales	$	436
Commodity Derivatives at September 30, 2012	$	(2,423	)	Oil and gas sales	$	2,285

Effect of Cash Flow Hedges on the Consolidated Statement of Operations for the nine months ended September 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 September 30, 2013	$	819		Oil and gas sales	$	(18	)
Commodity Derivatives at September 30, 2012	$	(3,431	)	Oil and gas sales	$	8,264

Effect of Non-designated Derivative Instruments

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

	Commodity Derivatives
Period	Balance Sheet Location	Fair Value
September 30, 2013	Derivative asset (short-term)	$	49
September 30, 2013	Derivative liability (short-term)	$	(80	)
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 September 30, 2013 and 2012:

Instrument	Amount of Unrealized Gain (Loss) Recognized in Derivative Expense
Commodity Derivatives at September 30, 2013	$	45
Commodity Derivatives at September 30, 2012	$	(340	)

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

Instrument	Amount of Unrealized Gain (Loss) Recognized in Derivative Expense
Commodity Derivatives at September 30, 2013	$	202
Commodity Derivatives at September 30, 2012	$	(715	)