Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 11,143	$ 22,263
Revenue receivable	15,126	15,860
Joint interest billing receivable	53,566	47,445
Hedge asset	7,635	6,418
Prepaid drilling costs	1,891	2,900
Drilling pipe inventory	2,762	4,070
Other current assets	2,430	2,965
Total current assets	94,553	101,921
Oil and gas properties:
Oil and gas properties, full cost method	1,625,108	1,600,546
Unevaluated oil and gas properties	80,086	70,408
Accumulated depreciation, depletion and amortization	(1,300,693)	(1,265,603)
Oil and gas properties, net	404,501	405,351
Gas gathering assets	4,177	4,177
Accumulated depreciation and amortization of gas gathering assets	(1,868)	(1,794)
Total property and equipment	406,810	407,734
Other assets, net of accumulated depreciation and amortization of $8,440 and $8,066, respectively	6,352	6,511
Total assets	507,715	516,166
Current liabilities:
Accounts payable to vendors	66,324	50,750
Advances from co-owners	21,248	33,867
Oil and gas revenue payable	18,434	13,764
Accrued interest and preferred stock dividend	2,468	6,167
Asset retirement obligation	2,302	3,110
Other accrued liabilities	2,219	8,250
Total current liabilities	112,995	115,908
Bank debt	10,000	0
10% Senior Notes	150,000	150,000
Asset retirement obligation	28,641	27,317
Deferred income taxes	0	551
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 62,342 and 62,148 shares, respectively	62	62
Paid-in capital	272,139	270,606
Accumulated other comprehensive income	4,795	4,031
Accumulated deficit	(70,918)	(52,310)
Total stockholders' equity	206,079	222,390
Total liabilities and stockholders' equity	$ 507,715	$ 516,166