Credit Facility	12 Months Ended
Dec. 31, 2014
Credit Facility.
Credit Facility	2.Credit Facility Effective August 29, 2014, the Company replaced its previous credit facility with a $250,000 revolving line of credit (“Credit Facility”) with a $50,000 borrowing base. The Company paid the lender and its financial advisor structuring fees and legal expenses totaling $949 in connection with facilitating the credit agreement, which will be amortized over the term of the loan. The Credit Facility is collateralized by the Company’s natural gas and oil producing properties. Any balance outstanding on the credit facility is due August 29, 2017. As of December 31, 2014, the balance outstanding under the Credit Facility was $47,515. The Company has utilized its credit facilities to fund the development of the Catalina Unit and other operated and non-operated projects in the Atlantic Rim, and development projects on the Pinedale Anticline in the Green River Basin in Wyoming. Borrowings under the Credit Facility bear interest daily based on the Company’s interest rate election of either the Base Rate or the LIBOR Rate. Under the Base Rate option, interest is calculated at an annual rate equal to the highest of (a) the base rate for dollar loans for such day, Federal Funds rate for such day, or the LIBOR rate for such day plus (b) a margin ranging between 0.75% and 1.75% (annualized) depending on the level of funds borrowed. Under the LIBOR Rate option, interest is calculated at an annual rate equal to LIBOR, plus a margin ranging between 1.75% and 2.75% (annualized) depending on the level of funds borrowed. The average interest rate on the facility at December 31, 2014 was 3.1%. For the years ended December 31, 2014, 2013 and 2012, the Company incurred interest charges on its credit facilities of $1,746, $1,635 and $1,275, respectively. Of the total interest incurred, the Company capitalized interest costs of $59, $80 and $321 for the years ended December 31, 2014, 2013 and 2012, respectively. Under the Credit Facility, the Company is subject to both financial and non-financial covenants. The financial covenants, as defined in the credit agreement, include maintaining (i) a current ratio of 1.0 to 1.0; (ii) a ratio of earnings before interest, taxes, depreciation, depletion, amortization, exploration and other non-cash items (“EBITDAX”) to interest plus dividends of greater than 1.5 to 1.0; and (iii) a funded debt to EBITDAX ratio of less than 4.0 to 1.0. As of December 31, 2014, the Company was in compliance with all financial and non-financial covenants, except as described in the following paragraph. The Company’s independent registered public accounting firm has included in its audit opinion for the year ended December 31, 2014, a statement that there is substantial doubt as to Company’s ability to continue as a going concern. The inclusion of the going concern explanatory paragraph is a trigger of default under the Company’s credit facility. The Company is working with its lender to obtain a waiver. Unless a waiver is obtained, the lender has the right to declare an event of default, terminate the remaining commitment and accelerate all principal and interest outstanding. As a result, the outstanding balance is shown as a current liability on the consolidated statement of operations for the year ended December 31, 2014. The Company is subject to semi-annual borrowing base redeterminations, the next of which is scheduled to be completed in May 2015.

2.Credit Facility

Effective August 29, 2014, the Company replaced its previous credit facility with a $250,000 revolving line of credit (“Credit Facility”) with a $50,000 borrowing base. The Company paid the lender and its financial advisor structuring fees and legal expenses totaling $949 in connection with facilitating the credit agreement, which will be amortized over the term of the loan. The Credit Facility is collateralized by the Company’s natural gas and oil producing properties. Any balance outstanding on the credit facility is due August 29, 2017.

As of December 31, 2014, the balance outstanding under the Credit Facility was $47,515. The Company has utilized its credit facilities to fund the development of the Catalina Unit and other operated and non-operated projects in the Atlantic Rim, and development projects on the Pinedale Anticline in the Green River Basin in Wyoming.

Borrowings under the Credit Facility bear interest daily based on the Company’s interest rate election of either the Base Rate or the LIBOR Rate. Under the Base Rate option, interest is calculated at an annual rate equal to the highest of (a) the base rate for dollar loans for such day, Federal Funds rate for such day, or the LIBOR rate for such day plus (b) a margin ranging between 0.75% and 1.75% (annualized) depending on the level of funds borrowed. Under the LIBOR Rate option, interest is calculated at an annual rate equal to LIBOR, plus a margin ranging between 1.75% and 2.75% (annualized) depending on the level of funds borrowed. The average interest rate on the facility at December 31, 2014 was 3.1%. For the years ended December 31, 2014, 2013 and 2012, the Company incurred interest charges on its credit facilities of $1,746, $1,635 and $1,275, respectively. Of the total interest incurred, the Company capitalized interest costs of $59, $80 and $321 for the years ended December 31, 2014, 2013 and 2012, respectively.

Under the Credit Facility, the Company is subject to both financial and non-financial covenants. The financial covenants, as defined in the credit agreement, include maintaining (i) a current ratio of 1.0 to 1.0; (ii) a ratio of earnings before interest, taxes, depreciation, depletion, amortization, exploration and other non-cash items (“EBITDAX”) to interest plus dividends of greater than 1.5 to 1.0; and (iii) a funded debt to EBITDAX ratio of less than 4.0 to 1.0. As of December 31, 2014, the Company was in compliance with all financial and non-financial covenants, except as described in the following paragraph.

The Company’s independent registered public accounting firm has included in its audit opinion for the year ended December 31, 2014, a statement that there is substantial doubt as to Company’s ability to continue as a going concern. The inclusion of the going concern explanatory paragraph is a trigger of default under the Company’s credit facility. The Company is working with its lender to obtain a waiver. Unless a waiver is obtained, the lender has the right to declare an event of default, terminate the remaining commitment and accelerate all principal and interest outstanding. As a result, the outstanding balance is shown as a current liability on the consolidated statement of operations for the year ended December 31, 2014.

The Company is subject to semi-annual borrowing base redeterminations, the next of which is scheduled to be completed in May 2015.