CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
Cash flows from operating activities:
Net income	$ 8,454	$ 15,749
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of discount on available-for-sale debt securities	(27)	(25)
Amortization of deferred offering costs	103	95
Depreciation, depletion and amortization	12,978	9,923
Change in fair value of derivative financial instruments	(3,362)	(8,195)
Stock option expense	720	1,488
Deferred tax benefit	(7)	(43)
Change in assets and liabilities:
Increase in accounts receivable-trade	(1,049)	(697)
Increase decrease in other assets	(408)	(401)
Increase in accounts payable and accruals	2,740	102
Decrease in other long-term liabilities	(186)	(337)
Net cash provided by operating activities	19,956	17,659
Cash flows from investing activities:
Purchase, exploration and development of oil and gas properties	(15,548)	(11,129)
Purchase of property and equipment	(5,183)	(39)
Net cash used in investing activities	(20,731)	(11,168)
Cash flows from financing activities:
Payments on long-term debt	(1,469)	(7,462)
Issuance of common stock, net	83	80
Repurchase of preferred stock, net		(1,051)
Net cash used in financing activities	(1,386)	(8,433)
Net decrease in cash and cash equivalents	(2,161)	(1,942)
Cash and cash equivalents at beginning of period	11,092	17,238
Cash and cash equivalents at end of period	8,931	15,296
Supplemental disclosure of cash flow information
Cash paid for interest, net of amounts capitalized	1,248	1,618
Noncash investing and financing activities
Accrued preferred stock dividend	$ 5	$ 14