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Hedging Program and Derivatives (Tables)
3 Months Ended
Mar. 31, 2013
Hedging Program and Derivatives [Abstract]  
Derivative Contract Position and Additional Hedges
The following table sets forth our derivative contracts at March 31, 2013:

   
Fixed Price Swap
 
   
Oil – WTI
  
Oil - Brent
 
Contract Periods
 
Daily Volume (Bbl)
  
Swap Price (per Bbl)
  
Daily Volume (Bbl)
  
Swap Price (per Bbl)
 
2013
  1,007  $84.76   510  $105.00 
2014
  687  $94.16   505  $100.56 
2015
  560  $83.03   500  $97.04 
2016
  963  $84.10     $ 
2017
  500  $84.18     $ 
Impact of Derivative Contracts on Balance Sheet
The following table illustrates the impact of derivative contracts on the Company's balance sheet:
 
Fair Value of Derivative Instruments as of March 31, 2013
 
Asset Derivatives
 
Liability Derivatives
 
Derivatives not designated as hedging instruments
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
 
Commodity price derivatives
Derivatives – current
 
$
92
 
Derivatives – current
 
$
4,216
 
Commodity price derivatives
Derivatives - long-term
 
 
381
 
Derivatives - long-term
 
 
3,244
 
 
$
473
 
 
$
7,460
 

 
Fair Value of Derivative Instruments as of December 31, 2012
 
Asset Derivatives
 
Liability Derivatives
 
Derivatives not designated as hedging instruments
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
 
Commodity price derivatives
Derivatives – current
 
$
41
 
Derivatives – current
 
$
3,462
 
Commodity price derivatives
Derivatives – long-term
 
 
594
 
Derivatives – long-term
 
 
3,568
 
 
$
635
 
 
$
7,030