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Subsequent Events | 6 Months Ended
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Jun. 30, 2015
Subsequent Events [Abstract] |
Subsequent Events | 12) Subsequent Events Amendment to Credit Agreement On July 16, 2015, the Company entered into a third amendment (the "Third Amendment") to its senior secured revolving credit facility, dated July 30, 2010 (as amended, the "Senior Credit Agreement"), among Energy One, the Company, as guarantor party thereto, the lender parties thereto and Wells Fargo Bank, National Association. The Third Amendment provides for, among other things: (i) a limited waiver with respect to the restricted payments covenant pursuant to which a transfer of $5,000,000 from Energy One to the Company will be permitted in 2015; (ii) a limited waiver of the current ratio covenant as it relates to the fiscal quarters ending June 30, 2015 and September 30, 2015; and (iii) a borrowing base of $7,000,000, subject to further adjustment from time to time in accordance with the Senior Credit Agreement. The foregoing description of the Third Amendment is a summary only and is qualified in its entirety by reference to the Third Amendment, which was attached as an exhibit to the Company's Current Report on Form 8-K filed with the SEC on July 16, 2015. Commodity Derivative Contracts On July 14, 2015, Energy One entered into the following hedge transaction:
|  |  |  |  |  | Quantity |  |  |
Settlement Period |  | Counterparty |  | Basis |  | (Bbls/day) |  | Strike Price
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |
07/01/16 - 12/31/16 |  | Wells Fargo |  | WTI |  | 300 |  | Put: | $50.00
|  |  |  |  |  |  |  | Call: | $65.25

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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