SUBSEQUENT EVENTS (Tables)

12 Months Ended

Dec. 31, 2014

SUBSEQUENT EVENTS [Abstract]

Schedule of Derivative Instruments

Subsequent to December 31, 2014, we entered into one commodity derivative contract as detailed in the table below:

			Quantity
Settlement Period	Counterparty	Basis	(Bbls/day)	Strike Price
Crude Oil Put
02/01/15 - 04/30/15	Wells Fargo	WTI	500	Put:	$46.00