Subsequent Events

6 Months Ended

Jun. 30, 2015

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