Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Current assets:
Cash and cash equivalents	$ 22,263	$ 63,237
Revenue receivable	15,860	13,386
Joint interest billing receivable	47,445	12,193
Other receivable	0	13,795
Hedge asset	6,418	0
Prepaid drilling costs	2,900	789
Drilling pipe inventory	4,070	11,711
Other current assets	2,965	1,827
Total current assets	101,921	116,938
Oil and gas properties:
Oil and gas properties, full cost method	1,600,546	1,433,642
Unevaluated oil and gas properties	70,408	54,851
Accumulated depreciation, depletion and amortization	(1,265,603)	(1,175,553)
Oil and gas properties, net	405,351	312,940
Gas gathering assets	4,177	4,177
Accumulated depreciation and amortization of gas gathering assets	(1,794)	(1,496)
Total property and equipment	407,734	315,621
Other assets, net of accumulated depreciation and amortization of $8,066 and $6,435, respectively	6,511	6,958
Total assets	516,166	439,517
Current liabilities:
Accounts payable to vendors	50,750	26,097
Advances from co-owners	33,867	7,963
Oil and gas revenue payable	13,764	7,220
Accrued interest and preferred stock dividend	6,167	6,575
Hedge liability	0	1,089
Asset retirement obligation	3,110	1,517
Other accrued liabilities	8,250	7,380
Total current liabilities	115,908	57,841
10% Senior Notes	150,000	150,000
Asset retirement obligation	27,317	23,075
Deferred income taxes	551	0
Other liabilities	0	439
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.001 par value; authorized 5,000 shares; issued and outstanding 1,495 shares	1	1
Common stock, $.001 par value; authorized 150,000 shares; issued and outstanding 62,148 and 61,565 shares, respectively	62	62
Paid-in capital	270,606	266,907
Accumulated other comprehensive income (loss)	4,031	(1,089)
Accumulated deficit	(52,310)	(57,719)
Total stockholders' equity	222,390	208,162
Total liabilities and stockholders' equity	$ 516,166	$ 439,517