Physical Delivery Contracts and Gas Derivatives (Tables)

6 Months Ended

Jun. 30, 2013

Physical Delivery Contracts and Gas Derivatives [Abstract]

Schedule of swap agreements

Agreement	Remaining		Fixed Price		Floating Price Nytis USA
Type	Term	Quantity	Counterparty Payer		Payer
Swap	7/13 - 12/13	10,000 MMBtu/month	$	3.715/ MMBtu	(a)
Swap	7/13 - 3/14	10,000 MMBtu/month	$	3.840/ MMBtu	(a)
Swap	7/13 - 2/15	20,000 MMBtu/month	$	3.830/ MMBtu	(a)
Swap	7/13 - 3/14	10,000 MMBtu/month	$	4.030/ MMBtu	(a)
Swap	11/13 - 10/14	10,000 MMBtu/month	$	4.125/ MMBtu	(a)
Swap	1/14 - 12/14	10,000 MMBtu/month	$	4.105/ MMBtu	(a)
Swap	1/14 – 12/14	10,000 MMBtu/month	$	4.32/ MMBtu	(a)
Swap	7/13 - 12/13	500 Bbl/month	$	87.70/ Bbl	(b)
Swap	7/13 - 12/13	1,000 Bbl/month	$	91.30/ Bbl	(b)
Swap	7/13 - 12/13	500 Bbl/month	$	93.20/ Bbl	(b)
Swap	1/14 - 12/14	500 Bbl/month	$	91.50/ Bbl	(b)
Swap	7/13 – 6/14	1,000 Bbl/month	$	93.43/ Bbl	(b)

(a) NYMEX Henry Hub Natural Gas futures contract for the respective delivery month.

(b) NYMEX Light Sweet Crude West Texas Intermediate futures contract for the respective delivery month.

Schedule of fair value of the derivatives recorded

(in thousands)	June 30,  2013		December 31, 2012
Natural gas derivative contracts:
Current assets	$	85		-
Current liabilities	$	-	$	87

Schedule of realized and unrealized gains and losses

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2013			2012			2013			2012
Commodity derivative contracts:
Realized (losses) gains	$	(51	)	$	184		$	(97	)	$	318
Unrealized gains (losses)		504			(154	)		172			(177	)
Total realized and unrealized gains, net	$	453		$	30		$	75		$	141