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Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2012
Derivative Instruments [Abstract]  
Commodity Derivatives [Table Text Block]

Natural Gas Fixed Price Swaps

 

Production

 

 

 

 

 

 

 

 

Period Ending

 

 

 

 

 

Average

 

Fair Value

December 31,

 

 

 

Volumes

 

Fixed Price

 

Asset/(Liability) (2)

 

 

 

 

(MMBtu)(1)

 

(per MMBtu)(1)

 

 

2013

 

 

 

705,600

 

$             3.798

 

$              179,900

2014

 

 

 

540,000

 

                4.110

 

                  42,700

2015

 

 

 

288,000

 

                4.224

 

                   (1,400)

2016

 

 

 

114,500

 

                4.460

 

                     5,000

 

 

 

 

 

 

 

 

$              226,200

 


 

 

Natural Gas Put Options

 

Production

 

 

 

 

 

 

 

 

Period Ending

 

 

 

 

 

Average

 

Fair Value

December 31,

 

Option Type

 

Volumes

 

Fixed Price

 

Asset (2)

 

 

 

 

(MMBtu)(1)

 

(per MMBtu)(1)

 

 

2013

 

Puts purchased

 

149,900

 

$            3.45

 

$               37,800

2014

 

Puts purchased

 

124,900

 

               3.80

 

                 47,400

2015

 

Puts purchased

 

99,900

 

               4.00

 

                 46,900

2016

 

Puts purchased

 

99,900

 

               4.15

 

                 60,000

 

 

 

 

 

 

 

 

$            192,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Net Asset

 

$            418,300

________________

(1)

"MMBtu" represents million British Thermal Units.

(2)

Fair value based on forward NYMEX natural gas prices, as applicable.

Effects of Derivative Instruments on Statements of Operations [Table Text Block]
       

 

Years Ended December 31,

 

2012

 

2011

Gain recognized in accumulated OCI

$        131,500

 

$      452,800

Gain reclassified from accumulated OCI into income

$    1,612,000

 

$  4,657,200

Gross Fair Values of Receivable and Payable Affiliate Balances [Table Text Block]
                               

 

 

Gross Amounts of Recognized Assets

 

Gross Amounts Offset in the Balance Sheets

 

Net Amount of Assets Presented in the Balance Sheets

 

Offsetting Derivative Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2012

 

 

 

 

 

 

 

Accounts receivable monetized gains-affiliate

 

$      851,800

 

$          (71,000)

 

$                 780,800

 

Long-term receivable monetized gains-affiliate

 

        170,300

 

          (170,300)

 

                              —

 

 

 

 

 

 

 

 

 

Short-term swaps

 

        196,600

 

            (16,700)

 

                   179,900

 

Short-term puts

 

          37,800

 

                      —

 

                     37,800

 

 

 

$      234,400

 

$          (16,700)

 

$                 217,700

 

 

 

 

 

 

 

 

 

Long-term swaps

 

$        87,000

 

$          (40,700)

 

$                   46,300

 

Long-term puts

 

        154,300

 

                      —

 

                   154,300

 

 

 

$      241,300

 

$          (40,700)

 

$                 200,600

 

 

 

 

 

 

 

 

 

Total derivative assets

 

$  1,497,800

 

$       (298,700)

 

$             1,199,100

 

 

 

 

 

 

 

 

 

As of December 31, 2011

 

 

 

 

 

 

 

Accounts receivable monetized gains-affiliate

 

$   1,562,200

 

 

$                   —

 

$             1,562,200

 

Long-term receivable monetized gains-affiliate

 

     1,020,500

 

                      —

 

                1,020,500

 

 

 

 

 

 

 

 

 

Total derivative assets

 

$  2,582,700

 

$                   —

 

$             2,582,700

 


 

 

Gross Amounts of Recognized Liabilities

 

Gross Amounts Offset in the Balance Sheets

 

Net Amount of Liabilities Presented in the Balance Sheets

Offsetting Derivative Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2012

 

 

 

 

 

 

Put premiums payable-affiliate

 

$             (71,000)

 

$             71,000

 

$                        —

Long-term put premiums payable-affiliate

 

             (215,800)

 

             170,300

 

                 (45,500)

 

 

 

 

 

 

 

Short-term swaps

 

$             (16,700)

 

$             16,700

 

$                        —

Long-term swaps

 

                (40,700)

 

                40,700

 

                          —

 

 

$             (57,400)

 

$             57,400

 

$                        —

 

 

 

 

 

 

 

Total derivative liabilities

 

$           (344,200)

 

$           298,700

 

$              (45,500)

 

 

 

 

 

 

 

As of December 31, 2011

 

 

 

 

 

 

Put premiums payable-affiliate

 

$                       —

 

$                      —

 

$                        —

Long-term put premiums payable-affiliate

 

                         —

 

                        —

 

                          —

 

 

 

 

 

 

 

Total derivative liabilities

 

$                       —

 

$                      —

 

$                        —