CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
OPERATING REVENUES
Crude oil sales	$ 21,505,766	$ 9,437,066	$ 38,398,380	$ 16,852,709
Natural gas sales	6,051,551	15,538,315	13,120,665	30,263,264
Natural gas liquids sales	2,966,694	4,689,325	5,691,545	10,170,752
Total operating revenues	30,524,011	29,664,706	57,210,590	57,286,725
OPERATING EXPENSES
Lease operating expenses	3,603,046	4,657,344	8,240,431	8,687,922
Production and ad valorem taxes	(2,488,997)	1,958,269	(1,080,256)	3,838,475
Exploration expenses	48,895	289,595	349,591	381,209
Depreciation, depletion and amortization	14,675,882	14,385,639	29,137,944	27,866,568
Impairment and abandonment of oil and gas properties	806,067	3,965,511	1,482,541	9,410,025
General and administrative	4,525,720	4,058,859	9,297,177	8,227,722
Gain on sale of assets	0		(8,900)
Total operating expenses	21,170,613	29,315,217	47,418,528	58,411,921
INCOME (LOSS) FROM OPERATIONS	9,353,398	349,489	9,792,062	(1,125,196)
OTHER INCOME (EXPENSE)
Interest expense, net of amount capitalized	(6,212,806)	(6,247,756)	(12,457,988)	(12,982,584)
Other income and financing cost	(103,544)	(457,186)	(346,287)	(1,154,879)
Unrealized (loss) gain on derivative instruments	3,037,733	2,068,515	2,512,100	(2,163,290)
Total other income (expense)	(3,278,617)	(4,636,427)	(10,292,175)	(16,300,753)
INCOME (LOSS) BEFORE INCOME TAXES	6,074,781	(4,286,938)	(500,113)	(17,425,949)
Income tax (expense) benefit	(2,163,962)	1,460,375	11,847	6,053,424
NET INCOME (LOSS)	$ 3,910,819	$ (2,826,563)	$ (488,266)	$ (11,372,525)
NET INCOME (LOSS) PER SHARE
Basic (in dollars per share)	$ 0.09	$ (0.06)	$ (0.01)	$ (0.25)
Diluted (in dollars per share)	$ 0.09	$ (0.06)	$ (0.01)	$ (0.25)
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic (in shares)	44,134,330	45,188,542	44,055,639	45,065,402
Diluted (in shares)	44,992,883	45,188,542	44,484,917	45,065,402