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Commodity Price Risk Management (Tables) | 9 Months Ended
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Sep. 30, 2012
Commodity Price Risk Management [Abstract] |
Commodity derivative contracts | Energy One's commodity derivative contracts as of September 30, 2012 are summarized below:
|  |  |  |  |  | Quantity |  |  |  |  |
Settlement Period |  | Counterparty |  | Basis |  | (Bbl/d) |  | Strike Price |
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 - 03/31/13 |  | Wells Fargo |  | WTI |  |  | 200 |  | Put: |  | $ | 85.00 |
|  |  |  |  |  |  |  |  | Call: |  | $ | 101.00 |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |  |  |
01/01/13 - 06/30/13 |  | Wells Fargo |  | WTI |  |  | 200 |  | Put: |  | $ | 90.00 |
|  |  |  |  |  |  |  |  | Call: |  | $ | 105.75 |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |  |  |
10/01/12 - 09/30/13 |  | BNP Parabis |  | WTI |  |  | 200 |  | Put: |  | $ | 95.00 |
|  |  |  |  |  |  |  |  | Call: |  | $ | 116.60 |
Subsequent to September 30, 2012, Energy One entered into three commodity derivative contracts as reflected in the following table:
|  |  |  |  |  | Quantity |  |  |  |  |
Settlement Period |  | Counterparty |  | Basis |  | (Bbl/d) |  | Strike Price |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |
04/01/13 - 06/30/13 |  | Wells Fargo |  | WTI |  |  | 200 |  | Put: |  | $ | 90.00 |
|  |  |  |  |  |  |  |  | Call: |  | $ | 97.50 |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |  |  |
06/01/13 - 09/30/13 |  | Wells Fargo |  | WTI |  |  | 400 |  | Put: |  | $ | 90.00 |
|  |  |  |  |  |  |  |  | Call: |  | $ | 97.50 |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |  |  |
10/01/13 - 12/31/13 |  | Wells Fargo |  | WTI |  |  | 600 |  | Put: |  | $ | 90.00 |
|  |  |  |  |  |  |  |  | Call: |  | $ | 97.50 |
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 September 30, 2012
| (in thousands)
| Derivative Assets | Derivative Liabilities
| Balance Sheet |  | Fair | Balance Sheet |  | Fair
| Classification |  | Value | Classification |  | Value
Crude oil costless collars | Current Asset |  | $ 635 | Current Liability | $ --

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