Income Taxes	9 Months Ended
Sep. 30, 2012
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE L – INCOME TAXES For the nine months ended September 30, 2012, the Company incurred a net income tax expense of $1,461,000 compared to a net income tax expense of $5,710,000 for the nine months ended September 30, 2011. These represent effective income tax rates of approximately 25% and 35% for the nine months ended September 30, 2012 and, 2011, respectively. The effective tax rate is calculated based on forecasted net income for 2012 adjusted for estimated permanent tax differences such as depletion allowances. During 2012, depletion allowances have increased due to higher oil and gas revenues and are the primary driver of the increase in permanent tax differences that is creating the favorable rate difference compared to 2011. As of September 30, 2012, our balance sheet reflects an income tax payable of $1,180,000. The Company classifies interest and penalties incurred on tax payments as income tax expenses. During the first nine months ended September 30, 2012, the Company made income tax payments of $3,401,000 related to the 2011 tax year and received $580,000 in tax refunds.

Income Taxes

9 Months Ended

Sep. 30, 2012

NOTE L – INCOME TAXES

For the nine months ended September 30, 2012, the Company incurred a net income tax expense of $1,461,000 compared to a net income tax expense of $5,710,000 for the nine months ended September 30, 2011. These represent effective income tax rates of approximately 25% and 35% for the nine months ended September 30, 2012 and, 2011, respectively. The effective tax rate is calculated based on forecasted net income for 2012 adjusted for estimated permanent tax differences such as depletion allowances. During 2012, depletion allowances have increased due to higher oil and gas revenues and are the primary driver of the increase in permanent tax differences that is creating the favorable rate difference compared to 2011. As of September 30, 2012, our balance sheet reflects an income tax payable of $1,180,000.

The Company classifies interest and penalties incurred on tax payments as income tax expenses. During the first nine months ended September 30, 2012, the Company made income tax payments of $3,401,000 related to the 2011 tax year and received $580,000 in tax refunds.