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Commodity Price Risk Management (Tables)

9 Months Ended

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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