Physical Delivery Contracts and Commodity Derivatives (Tables)

9 Months Ended

Sep. 30, 2014

Physical Delivery Contracts and Oil and Commodity Derivatives [Abstract]

Schedule of swap agreements

	Natural Gas				Oil
			Weighted				Weighted
			Average				Average
Period	MMBtu		Price (a)		Bbl		Price (b)
Oct - Dec 2014		250,000	$	4.16		12,000	$	93.79
Jan - Mar 2015		220,000	$	4.06		5,000	$	94.52
Apr - Jun 2015		170,000	$	4.04		3,000	$	94.80
Jul - Sep 2015		180,000	$	4.05		2,000	$	94.80
Oct - Dec 2015		180,000	$	4.05		-		-
Jan - Mar 2016		30,000	$	4.20		-		-
Apr - Jun 2016		10,000	$	4.20		-		-

(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)	September 30, 2014		December 31, 2013
Commodity derivative contracts:
Current assets	$	147	$	-
Non-current assets	$	4	$	-
Current liabilities	$	-	$	226
Non-current liabilities	$	-	$	100

Schedule of realized and unrealized gains and losses

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2014			2013			2014			2013
Commodity derivative contracts:
Realized losses	$	(54	)	$	(79	)	$	(556	)	$	(176	)
Unrealized gains (losses)		743			(186	)		477			(14	)
Total realized and unrealized gains (losses), net	$	689		$	(265	)	$	(79	)	$	(190	)

Schedule of fair value amounts of all derivative instruments assets and liabilities

						Net
	Gross					Recognized
	Recognized		Gross			Fair Value
	Assets/		Amounts			Assets/
Balance Sheet Classification (in thousands)	Liabilities		Offset			Liabilities
Commodity derivative assets:
Current derivative asset	$	215	$	(68	)	$	147
Other long-term assets		14		(10	)		4
Total derivative assets	$	229	$	(78	)	$	151
Commodity derivative liabilities:
Current derivative liability		68		(68	)		-
Non-current derivative liability		10		(10	)		-
Total derivative liabilities	$	78	$	(78	)	$	-