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FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2013
FAIR VALUE MEASUREMENTS  
Schedule of fair value information related to derivative instruments

Fair value information related to our derivative instruments measured at fair value on a recurring basis was as follows at June 30, 2013:

 

 

 

Total

 

Fair Value Measurements Using

 

 

 

Carrying Value

 

Level 1

 

Level 2

 

Level 3

 

Derivatives

 

 

 

 

 

 

 

 

 

Commodity price contracts - assets

 

$

2,720,236

 

$

—

 

$

2,720,236

 

$

—

 

 

 

Fair value information related to our derivative instruments measured at fair value on a recurring basis was as follows at December 31, 2012:

 

 

 

Total

 

Fair Value Measurements Using

 

 

 

Carrying Value

 

Level 1

 

Level 2

 

Level 3

 

Derivatives

 

 

 

 

 

 

 

 

 

Commodity price contracts - assets

 

$

1,960,005

 

$

—

 

$

1,960,005

 

$

—