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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Reconciliation of net loss to net cash provided by (used in) operating activities    
Net loss $ (11,572,395) $ (18,997,712)
Goodwill Impairment 5,349,988 0
Increase in fair value of preferred stock derivative liability 0 15,676,842
Depreciation, depletion and amortization of property and equipment 11,020,278 15,604,283
Accretion of asset retirement obligation 499,766 438,717
Stock-based compensation net of capitalized cost 2,210,950 598,818
Amortization of other assets and liabilities 209,904 140,954
Deferred tax expense (benefit) (5,781,400) (1,710,632)
Bad debt expense 787,264 85,101
Write off deferred offering costs 0 1,257,160
Amortization of benefit from commodity derivatives sold 0 (70,313)
Unrealized (gains) losses on commodity derivatives 1,847,371 (921,026)
Other (342,944) 2,058
Changes in current operating assets and liabilities:    
Accounts receivable 4,411,640 1,868,318
Other current assets (77,453) (274,235)
Accounts payable (13,938,649) 6,165,919
Other current liabilities 1,095,356 971,048
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (4,280,324) 20,835,300
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures on property and equipment (11,211,634) (16,042,655)
Proceeds from sale of property 30,442 307,600
Cash received from merger 0 4,550,082
Decrease in short-term investments 1,170,868 2,142,128
Decrease in noncurrent receivable from affiliate 0 95,634
NET CASH USED IN INVESTING ACTIVITIES (10,010,324) (8,947,211)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Change in borrowing on line of credit 6,800,000 (6,250,000)
Proceeds from insurance note 813,562 901,257
Payments on insurance note (579,005) (514,118)
Line of credit financing costs (215,141) (47,291)
Net proceeds from sale of common stock 1,363,160 0
Net proceeds (preparations costs) from sale of perpetual preferred stock 870,386 (165,034)
Cash dividends to preferred shareholders (940,315) (445,152)
Common stock purchased from employees (300,732) 0
Other (31,485) 0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 7,780,430 (6,520,338)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (6,510,218) 5,367,751
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 11,558,322 4,194,511
CASH AND CASH EQUIVALENTS AT END OF PERIOD 5,048,104 9,562,262
Supplemental disclosure of cash flow information:    
Interest payments (net of interest capitalized) 73,342 210,323
Interest capitalized 750,107 767,908
Supplemental disclosure of significant non-cash activity:    
Change in capital expenditures financed by accounts payable (2,979,301) 1,858,609
Preferred dividends paid in kind $ 0 $ 4,133,380