Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
CASH FLOWS DUE TO OPERATING ACTIVITIES
Net loss	$ (37,875)	$ (51,828)
Depreciation, depletion, and amortization	7,465	12,789
Impairment of oil and natural gas properties and assets held for sale	28,999	48,320
Deferred income taxes	1,887	1,431
Non-cash compensation expense	832	1,159
(Gain) loss on extinguishment of debt	(2,781)	108
Non-cash interest expense	2,115	2,403
Non-cash change in fair value of derivative financial instruments	(790)	37
Non-cash derivative gain in oil and gas sales	(5,321)	0
Other	(28)	0
Decrease (increase) in:
Accounts receivable	2,090	1,613
Inventory and prepaid expenses	770	(322)
Increase (decrease) in:
Accounts payable and accrued liabilities	2,037	(155)
Revenue distributions payable	(574)	992
Net cash (used in) provided by operating activities	(1,174)	16,547
CASH FLOWS DUE TO INVESTING ACTIVITIES
Purchase, exporation and development of oil and natural gas properties	(24,924)	(85,872)
Proceeds from sale of oil and natural gas properties, property, equipment and assets held for sale	140	2,079
Purchase of short term investments	(2,000)	0
Purchase of property and equipment	(322)	(935)
Net cash used in investing activities	(27,106)	(84,728)
CASH FLOWS DUE TO FINANCING ACTIVITIES
Borrowings on revolving bank credit facility	0	18,000
Repayments of long-term debt	(13)	(160,022)
Proceeds from issuance of long-term debt	0	193,666
Proceeds from sale of common stock	0	105,324
Proceeds from sale of preferred stock	0	6,915
Dividends paid on Series B preferred stock	(1,837)	(1,210)
Fees paid related to financing activities	(86)	(15,890)
Contributions from non-controlling interest member	0	60
Distributions to non-controlling interest member	(1,198)	(3,378)
Net cash (used in) provided by financing activities	(3,134)	143,465
NET (DECREASE) INCREASE IN CASH	(31,414)	75,284
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	102,493	2,357
CASH AND CASH EQUIVALENTS AT END OF PERIOD	71,079	77,641
CASH PAID DURING THE PERIOD FOR:
INTEREST, Net of amounts capitalized	1,368	4,318
INCOME TAXES, Paid	0	1
NON-CASH INVESTING AND FINANCING ACTIVITIES
Debt extinguished with common stock	13,378	0
Additions to oil and natural gas properties from issuance of common stock	0	13,614
Decrease in accounts payable for property additions	$ 3,120	$ 10,624