Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
CASH FLOWS DUE TO OPERATING ACTIVITIES
Net loss	$ (141,188)	$ (63,628)
Depreciation, depletion, and amortization	14,439	26,093
Impairment of oil and natural gas properties and assets held for sale	120,690	65,181
Deferred income taxes	3,305	2,867
Non-cash compensation expense	2,292	2,155
(Gain) loss on conversion/extinguishment of debt	(3,612)	176
Non-cash interest expense	4,163	4,622
Non-cash change in fair value of derivative financial instruments	(779)	(4,992)
Non-cash derivative gain in oil and gas sales	(9,493)	0
Other	(28)	(722)
Decrease (increase) in:
Accounts receivable	4,856	(634)
Inventory and prepaid expenses	1,166	(231)
Increase (decrease) in:
Accounts payable and accrued liabilities	(3,515)	5,474
Revenue distributions payable	(358)	1,263
Net cash (used in) provided by operating activities	(8,062)	37,624
CASH FLOWS DUE TO INVESTING ACTIVITIES
Purchase, exploration and development of oil and natural gas properties	(52,974)	(192,708)
Proceeds from sale of oil and natural gas properties, property, equipment and assets held for sale	1,765	2,189
Purchase of short term investments	(6,029)	0
Purchase of property and equipment	(418)	(1,739)
Net cash used in investing activities	(57,656)	(192,258)
CASH FLOWS DUE TO FINANCING ACTIVITIES
Borrowings on revolving bank credit facility	0	26,000
Repayments of long-term debt	(24)	(168,035)
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	25,809
Dividends paid on Series B preferred stock	(1,837)	(3,047)
Fees paid related to financing activities	(118)	(16,132)
Contributions from non-controlling interest member	0	385
Distributions to non-controlling interest member	(2,674)	(6,816)
Net cash (used in) provided by financing activities	(4,653)	157,154
NET (DECREASE) INCREASE IN CASH	(70,371)	2,520
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	102,493	2,357
CASH AND CASH EQUIVALENTS AT END OF PERIOD	32,122	4,877
CASH PAID DURING THE PERIOD FOR:
INTEREST, Net of amounts capitalized	11,531	3,336
INCOME TAXES, Paid	24	1
NON-CASH INVESTING AND FINANCING ACTIVITIES
Debt extinguished with common stock	20,753	0
Additions to oil and natural gas properties in exchange for common stock	0	31,612
Decrease in accounts payable for property additions	4,451	7,079
Interest paid in the form of additional notes (''PIK Election'')	$ 5,102	$ 0