Hedging Program and Derivatives (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Contract Position

The following table sets forth the summary position of our derivative contracts as of December 31, 2013:

	Oil - WTI			Oil - Brent			Oil - LLS
Contract Periods	Daily Volume (Bbl)	Swap Price (per Bbl)		Daily Volume (Bbl)	Swap Price (per Bbl)		Daily Volume (Bbl)	Swap Price (per Bbl)
2014	687	$	94.16	505	$	100.56	100	$	101.26
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 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

Fair Value of Derivative Instruments as of December 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	$	85	Derivatives – current	$	2,728
Commodity price derivatives	Derivatives – long-term	925		Derivatives – long-term	2,274
		$	1,010		$	5,002