FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2013

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of carrying amount and estimated fair value of financial instruments

	2013				2012
	Fair value		Carrying amount		Fair value		Carrying amount
	(in thousands)
Financial assets
Collateral Security account	$	3,166	$	3,166	$	3,164	$	3,164
Financial liabilities
Fixed rate debentures	$	2,035	$	1,636	$	2,190	$	1,636
Line of credit		94,500		94,500		99,500		99,500

Schedule of assets and liabilities, including both current and non-current portions, measured at fair value on a recurring basis

December 31, 2013	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Restricted investments in US Treasury Bonds—available for sale, at fair value	$	1,314	$	—	$	—	$	1,314
Commodity derivatives Commodity derivatives	$	—	$	43	$	—	$	43

	Level 1		Level 2		Level 3		Total
	(in thousands)
Liabilities
Commodity derivatives	$	—	$	3,517	$	—	$	3,517

December 31, 2012	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Restricted investments in US Treasury Bonds—available for sale, at fair value	$	1,415	$	—	$	—	$	1,415

	Level 1		Level 2		Level 3		Total
	(in thousands)
Liabilities
Commodity derivatives	$	—	$	952	$	—	$	952