As of June 30, 2013, the Company had crude oil swaps in place relating to a total of 3,000 Bbls per month, as follows:

				Price	Volumes	Fair Value of Outstanding Derivative Contracts (1) as of
Transaction				Per	Per		June 30,		December
Date	Type (2)	Beginning	Ending	Unit	Month		2013		31, 2012
March 2011	Swap	04/01/2011	02/28/2013	$104.55	1,000	$	—	$	41,019
November 2011	Swap	12/01/2011	11/30/2014	$93.50	2,000		—		44,942
February 2012	Swap	03/01/2012	02/28/2014	$106.50	1,000		—		204,827
February 2013	Swap	03/01/2013	11/01/2014	$93.50	2,000		48,570		—
February 2013	Swap	03/01/2013	02/01/2014	$106.50	1,000		107,174		—
						$	155,744	$	290,788

(1) The fair value of the Company's outstanding transactions is presented on the balance sheet by counterparty. Currently all of our derivatives are with the same counterparty. The balance is shown as current or long-term based on our estimate of the amounts that will be due in the relevant time periods at currently predicted price levels. Amounts in parentheses indicate liabilities.

(2) These crude oil hedges were entered into on a per barrel delivered price basis, using the NYMEX - West Texas Intermediate Index, with settlement for each calendar month occurring following the expiration date, as determined by the contracts.