STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 52,732,468	$ 41,992,280
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depletion of Oil and Gas Properties	71,781,894	25,962,463
Depreciation and Amortization	304,226	214,205
Amortization of Debt Issuance Costs	1,025,009	286,969
Accretion of Discount on Asset Retirement Obligations	61,162	20,305
Deferred Income Taxes	34,870,000	25,723,000
Net Gain on Sale of Available for Sale Securities	0	(215,092)
Unrealized (Gain) Loss on Derivative Instruments	(18,125,928)	(26,675,003)
Amortization of Deferred Rent	(24,921)	(13,931)
Share - Based Compensation Expense	11,295,664	5,552,245
Changes in Working Capital and Other Items:
Increase in Trade Receivables	(27,906,153)	(22,527,820)
Increase in Prepaid Expenses	(272,055)	(111,797)
Decrease in Other Current Assets	37,408	185,661
Increase in Accounts Payable	(723,549)	(1,028,434)
Increase in Accrued Interest	8,923,869	20,475
Increase in Accrued Expenses	2,717,838	340
Net Cash Provided By Operating Activities	136,696,932	49,385,866
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of Oil and Gas Properties and Development Capital Expenditures	(419,687,257)	(239,762,074)
Advances to Operators	0	(14,790,456)
Proceeds from Sale of Oil and Gas Properties	0	5,027,162
Proceeds from Sale of Available for Sale Securities	0	58,606,328
Purchases of Available for Sale Securities	0	(18,381,690)
Purchases of Other Equipment and Furniture	(185,157)	(181,041)
Net Cash Used For Investing Activities	(419,872,414)	(209,481,771)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances on Revolving Credit Facility	409,600,000	21,000,000
Repayments on Revolving Credit Facility	(411,500,000)	(6,000,000)
Issuances of 8% Senior Notes Due 2020	300,000,000	0
Debt Issuance Costs Paid	(11,850,614)	(249,147)
Repurchase of Common Stock	(1,173,315)	0
Proceeds from Exercise of Stock Options	54,390	0
Proceeds from Exercise of Warrants	0	1,500,000
Net Cash Provided by Financing Activities	285,130,461	16,250,853
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,954,979	(143,845,052)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	6,279,587	152,110,701
CASH AND CASH EQUIVALENTS - END OF PERIOD	8,234,566	8,265,649
Supplemental Disclosure of Cash Flow Information
Cash Paid During the Period for Interest	2,226,598	17,965
Cash Paid During the Period for Income Taxes	8,772	2,300
Non-Cash Financing and Investing Activities:
Payment of Compensation through Issuance of Common Stock	17,129,906	17,391,413
Capitalized Asset Retirement Obligations	413,146	259,832
Non-Cash Compensation Capitalized in Oil and Gas Properties	$ 5,834,242	$ 10,308,464