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Commodity Price Risk Management (Tables)

6 Months Ended

Jun. 30, 2012

Commodity Price Risk Management [Abstract]

Commodity derivative contracts

Energy One's commodity derivative contracts as of June 30, 2012 are summarized below:

Quantity

Settlement Period

Counterparty

Basis

(Bbl/d)

Strike Price

Crude Oil Costless Collar

10/01/11 - 09/30/12

BNP Parabis

WTI

400

Put:

$

80.00

Call:

$

99.00

Crude Oil Costless Collar

01/01/12 - 12/31/12

BNP Parabis

WTI

200

Put:

$

90.00

Call:

$

106.50

Crude Oil Costless Collar

10/01/12 - 09/30/13

BNP Parabis

WTI

200

Put:

$

95.00

Call

$

116.60

Fair value of the derivatives recorded in the applicable condensed consolidated balance sheet, by category

The following table details the fair value of the derivatives recorded in the applicable condensed consolidated balance sheet, by category:

	As of June 30, 2012
	(in thousands)
	Derivative Assets					Derivative Liabilities
	Balance Sheet		Fair			Balance Sheet		Fair
	Classification		Value			Classification		Value
Crude oil costless collars	Current Asset		$	1,112		Current Liability		$	-

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