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COMMODITY PRICE RISK MANAGEMENT (Tables) | 12 Months Ended
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Dec. 31, 2012
COMMODITY PRICE RISK MANAGEMENT [Abstract] |
Commodity Derivative Contracts | Energy One's commodity derivative contracts as of December 31, 2012 are summarized below:
|  |  |  | Quantity |  |  |  |  |
Settlement Period | Counterparty | Basis |  | (Bbl/d) |  | Strike Price |
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 Paribas | WTI |  |  | 200 |  | Put: |  | $ | 95.00 |
|  |  |  |  |  |  | Call: |  | $ | 116.60 |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |
04/01/13 - 06/30/13 | Wells Fargo | WTI |  |  | 200 |  | Put: |  | $ | 90.00 |
|  |  |  |  |  |  | Call: |  | $ | 97.50 |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |
07/01/13 - 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 Derivatives Recorded in Applicable Consolidated Balance Sheet, By Category | The following table details the fair value of the derivatives recorded in the applicable consolidated balance sheet, by category:
| As of December 31, 2012 |
| (in thousands) |
| Derivative Assets |  | Derivative Liabilities |
| Balance Sheet |  | Fair |  | Balance Sheet |  | Fair |
| Classification |  | Value |  | Classification |  | Value |
Crude oil costless collars | Current Asset |  | $ | 472 |  | Current Liability |  | $ | -- |
| As of December 31, 2011 |
| (in thousands) |
| Balance Sheet |  | Fair |  | Balance Sheet |  | Fair |
| Classification |  | Value |  | Classification |  | Value |
Crude oil costless collars | Current Asset |  | $ | 3 |  | Current Liability |  | $ | 601 |

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