DERIVATIVE INSTRUMENTS (Details 2) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Effect of derivative contracts on Consolidated Statements of Operations
Realized gain	$ 520,710	$ 2,577,080	$ 457,766	$ 3,950,853
Unrealized gain on derivative instruments	2,643,221	3,037,733	760,231	2,512,100
Crude oil contracts
Effect of derivative contracts on Consolidated Statements of Operations
Unrealized gain on derivative instruments	1,799,880	5,724,945	1,650,927	4,192,815
Crude oil contracts | Crude oil sales
Effect of derivative contracts on Consolidated Statements of Operations
Realized gain	603,205	586,360	395,936	424,673
Natural gas reserves contracts
Effect of derivative contracts on Consolidated Statements of Operations
Unrealized gain on derivative instruments	843,341	(2,687,212)	(890,696)	(1,680,715)
Natural gas reserves contracts | Natural gas reserves sales
Effect of derivative contracts on Consolidated Statements of Operations
Realized gain	$ (82,495)	$ 1,990,720	$ 61,830	$ 3,526,180