Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Measurement [Abstract]

Financial Assets and Liabilities Accounted for at Fair Value on Nonrecurring Basis

The following table presents the Company’s financial assets and liabilities, which were accounted for at fair value on a non-recurring basis as of September 30, 2012, by level within the fair value hierarchy.

	September 30, 2012
	Level 1		Level 2		Level 3		Total
ASSETS
Oil and gas properties, net	$	-	$	-	$	19,919	$	19,919
LIABILITIES
Asset retirement obligation	$	-	$	-	$	57,532	$	57,532