Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Derivative Instruments [Abstract]

Oil and gas contracts

	Instrument			Weighted
Production Period	Type	Daily Volumes		Average Price
Natural Gas:
July—December 2012	Costless Collar		10,000 Mmbtu	$	5.00 - 5.29
July—October 2012	Swap		20,000 Mmbtu	$	2.60
July—December 2012	Swap		20,000 Mmbtu	$	2.73
January—December 2013	Three-Way Collar		10,000 Mmbtu	$	2.00-$3.00-$4.09
Crude Oil:
July—December 2012	Swap		250 Bbls	$	100.77
July—December 2012	Swap		250 Bbls	$	105.00
Natural Gasoline:
July—December 2012	Swap		100 Bbls	$	100.13
Iso-Butane:
July—December 2012	Swap		50 Bbls	$	84.27
Normal Butane:
July—December 2012	Swap		50 Bbls	$	80.49

Effect of Cash Flow Hedges on the Consolidated Balance Sheet

Effect of Cash flow hedges on the Consolidated Balance Sheet at June 30, 2012 and December 31, 2011:

	Commodity Derivatives
	Balance Sheet
Period	Location	Fair Value
June 30, 2012	Hedge asset	$	4,814
December 31, 2011	Hedge asset	$	6,418

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, 2012 and 2011:

Instrument	Amount of Gain (Loss) Recognized in Other Comprehensive Income			Location of Gain Reclassified into Income	Amount of Gain (Loss) Reclassified into Income
Commodity Derivatives at June 30, 2012	$	(1,772	)	Oil and gas sales	$	3,877
Commodity Derivatives at June 30, 2011	$	2,374		Oil and gas sales	$	(103	)

Effect of Cash flow hedges on the Consolidated Statement of Operations for the six months ended June 30, 2012 and 2011:

Instrument	Amount of Gain (Loss) Recognized in Other Comprehensive Income			Location of Gain Reclassified into Income		Amount of Gain (Loss) Reclassified into Income
Commodity Derivatives at June 30, 2012	$	(1,008	)		Oil and gas sales	$	5,979
Commodity Derivatives at June 30, 2011	$	1,646			Oil and gas sales	$	(3	)

Effect of Non-designated Derivative Instruments

Effect of Non-designated Derivative Instruments on the Consolidated Balance Sheet at June 30, 2012 and December 31, 2011:

	Commodity Derivatives
Period	Balance Sheet Location	Fair Value
June 30, 2012	Other accrued liabilities	$	58
June 30, 2012	Hedge liability	$	317
December 31, 2011		$	—

Effect of Non-designated Derivative Instruments on the Consolidated Statement of Operations for the three and six months ended June 30, 2012 and 2011:

Instrument	Amount of Unrealized Loss Recognized in Other Income (expense)
Commodity Derivatives at June 30, 2012	$	(375	)
Commodity Derivatives at June 30, 2011	$	-