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COMMODITY PRICE RISK MANAGEMENT (Tables)
 12 Months Ended
Dec. 31, 2013
COMMODITY PRICE RISK MANAGEMENT [Abstract]  
Commodity Derivative Contracts
Energy One's commodity derivative contracts as of December 31, 2013 are summarized below:
 
 
       
Quantity
      
Settlement Period
Counterparty
Basis
 
(Bbls/day)
 
Strike Price
 
              
Crude Oil Costless Collar
            
01/01/14 - 06/30/14
 Wells Fargo
 WTI
  300 
Put:
 $90.00 
          
Call:
 $95.00 
Crude Oil Costless Collar
              
01/01/14 - 06/30/14
 Wells Fargo
 WTI
  300 
Put:
 $90.00 
          
Call:
 $97.25 
Crude Oil Costless Collar
              
07/01/14 - 12/31/14
 Wells Fargo
 WTI
  300 
Put:
 $90.00 
          
Call:
 $98.40 
 
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, 2013
 
 
(in thousands)
 
 
Derivative Assets
 
Derivative Liabilities
 
 
Balance Sheet
 
Fair
 
Balance Sheet
 
Fair
 
 
Classification
 
Value
 
Classification
 
Value
 
            
Crude oil costless collars
Current Asset
 $14 
Current Liability
 $280 
              
              
 
As of December 31, 2012
 
 
(in thousands)
 
 
Balance Sheet
 
Fair
 
Balance Sheet
 
Fair
 
 
Classification
 
Value
 
Classification
 
Value
 
              
Crude oil costless collars
Current Asset
 $472 
Current Liability
 $-- 
              
Schedule of unrealized and realized derivative gain loss
The following table summarizes the unrealized and realized derivative (gain) loss presented in the accompanying statements of operations:
 
   
(In thousands)
 
   
Year Ended December 31,
 
   
2013
  
2012
  
2011
 
Realized derivative gain (loss)
 $(338) $21  $(1,974)
Unrealized derivative gain (loss)
 $(737) $1,070  $1,126 
Total realized and unrealized derivative gain (loss)
 $(1,075) $1,091  $(848)