FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2013

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of carrying amount and estimated fair value of financial instruments

	September 30, 2013				December 31, 2012
	Fair		Carrying		Fair		Carrying
	value		amount		value		amount
	(in thousands)
Financial assets
Collateral security account	$	3,165	$	3,165	$	3,164	$	3,164
Financial liabilities
Fixed rate debentures	$	2,056	$	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

September 30, 2013

	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Restricted investments in US Treasury Bonds — available for sale, at fair value	$	1,347	$	—	$	—	$	1,347
Commodity derivatives	$	—	$	52	$	—	$	52

	Level 1		Level 2		Level 3		Total
	(in thousands)
Liabilities
Commodity derivatives	$	—	$	99	$	—	$	99

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