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COMMODITY PRICE RISK MANAGEMENT (Tables)

12 Months Ended

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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