FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2013

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of carrying amount and estimated fair value of financial instruments

	March 31, 2013				December 31, 2012
	Fair		Carrying		Fair		Carrying
	value		amount		value		amount
	(in thousands)
Financial assets
Collateral security account	$	3,164	$	3,164	$	3,164	$	3,164
Financial liabilities
Fixed rate debentures	$	2,184	$	1,636	$	2,190	$	1,636
Line of credit	89,500		89,500		99,500		99,500

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

March 31, 2013

Assets	Level 1		Level 2		Level 3		Total
	(in thousands)
Restricted investments in US Treasury Bonds — available for sale, at fair value	$	1,412	$	—	$	—	$	1,412
Liabilities	Level 1		Level 2		Level 3		Total
	(in thousands)
Commodity derivatives	$	—	$	2,418	$	—	$	2,418
December 31, 2012
Assets	Level 1		Level 2		Level 3		Total
	(in thousands)
Restricted investments in US Treasury Bonds — available for sale, at fair value	$	1,415	$	—	$	—	$	1,415
Liabilities	Level 1		Level 2		Level 3		Total
	(in thousands)
Commodity derivatives	$	—	$	952	$	—	$	952