Emerald Oil (EOGSF) 10-Q 5 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 05, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Emerald Oil, Inc.	'
Entity Central Index Key	'0001283843	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Amendment Flag	'false	'
Entity Common Stock Shares Outstanding	'	65,297,104
Entity Well Known Seasoned Issuer	'No	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filer	'No	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $)	Sep. 30, 2013	Dec. 31, 2012
CURRENT ASSETS	'	'
Cash and Cash Equivalents	$69,527,908	$10,192,379
Restricted Cash	15,000,000	'
Accounts Receivable - Oil and Natural Gas Sales	4,537,655	12,573,156
Accounts Receivable - Joint Interest Partners	22,481,032	'
Other Receivables	72,548	1,133,849
Prepaid Expenses and Other Current Assets	435,891	103,173
Total Current Assets	112,055,034	24,002,557
Oil and Natural Gas Properties, Full Cost Method	'	'
Proved Oil and Natural Gas Properties	149,069,872	167,618,422
Unproved Oil and Natural Gas Properties	49,838,769	61,454,831
Equipment and Facilities	682,230	'
Other Property and Equipment	728,310	385,023
Total Property and Equipment	200,319,181	229,458,276
Less - Accumulated Depreciation, Depletion and Amortization	-42,055,419	-80,230,517
Total Property and Equipment, Net	158,263,762	149,227,759
Restricted Cash	6,000,000	'
Prepaid Drilling Costs	1,628	100,193
Fair Value of Commodity Derivatives	25,017	25,397
Debt Issuance Costs, Net of Amortization	431,563	269,681
Deposits on Acquisitions	2,500,000	'
Other Non-Current Assets	566,047	260,775
Total Assets	279,843,051	173,886,362
CURRENT LIABILITIES	'	'
Accounts Payable	40,473,700	39,169,037
Fair Value of Commodity Derivatives	1,431,091	206,645
Accrued Expenses	6,015,432	420,521
Advances from Joint Interest Partners	1,452,969	'
Series A Perpetual Preferred Stock Redemption Liability	16,875,000	'
Total Current Liabilities	66,248,192	39,796,203
LONG-TERM LIABILITIES	'	'
Revolving Credit Facility	'	23,500,000
Asset Retirement Obligations	434,109	296,074
Warrant Liability	13,213,000	'
Total Liabilities	79,895,301	63,592,277
COMMITMENTS AND CONTINGENCIES	'	'
STOCKHOLDERS' EQUITY	'	'
Common Stock, Par Value $.001; 500,000,000 Shares Authorized, 42,954,252 and 24,734,643 Shares Issued and Outstanding at September 30, 2013 and December 31, 2012, respectively	42,954	24,735
Additional Paid-In Capital	270,019,428	180,439,530
Accumulated Deficit	-70,119,632	-70,170,180
Total Stockholders' Equity	199,942,750	110,294,085
Total Liabilities and Stockholders' Equity	279,843,051	173,886,362
Series A Perpetual Preferred Stock [Member]	'	'
Statement [Line Items]	'	'
Series B Voting Preferred Stock - 5,114,633 and 0 issued and outstanding at September 30, 2013 and December 31, 2012, respectively. Liquidation preference value of $5,115 and $0, as of September 30, 2013 and December 31, 2012, respectively.	'	0
STOCKHOLDERS' EQUITY	'	'
Total Stockholders' Equity	16,932,534	'
Series B Voting Preferred Stock [Member]	'	'
Statement [Line Items]	'	'
Series B Voting Preferred Stock - 5,114,633 and 0 issued and outstanding at September 30, 2013 and December 31, 2012, respectively. Liquidation preference value of $5,115 and $0, as of September 30, 2013 and December 31, 2012, respectively.	5,000	0
STOCKHOLDERS' EQUITY	'	'
Total Stockholders' Equity	$5,000	'

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Preferred Stock - Shares Authorized (in Shares)	20,000,000	20,000,000
Common Stock, Par Value (in Dollars per Share)	$0.00	$0.00
Common Stock, Shares Authorized (in Shares)	500,000,000	500,000,000
Common Stock, Shares Outstanding (in Shares)	42,954,252	24,734,643
Series B Voting Preferred Stock [Member]	'	'
Preferred Stock - Shares Issued (in Shares)	5,114,633	0
Preferred Stock - Shares Outstanding (in Shares)	5,114,633	0
Preferred Stock - Liquidation Preference Value	$5,115	$0

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
REVENUES	'	'	'	'
Oil and Natural Gas Sales	$17,316,558	$7,111,569	$36,108,357	$18,973,331
Realized and Unrealized Loss on Commodity Derivatives	-2,720,160	-1,635,435	-2,822,427	-296,327
Total Revenues	14,596,398	5,476,134	33,285,930	18,677,004
OPERATING EXPENSES	'	'	'	'
Production Expenses	2,087,635	687,646	4,723,520	1,639,105
Production Taxes	1,879,160	809,062	3,629,557	2,043,671
General and Administrative Expenses	6,194,202	3,503,273	17,562,754	5,660,622
Depletion of Oil and Natural Gas Properties	4,497,002	2,818,650	11,238,783	7,977,077
Impairment of Oil and Natural Gas Properties	'	'	'	10,191,234
Depreciation and Amortization	40,631	12,345	94,665	34,559
Accretion of Discount on Asset Retirement Obligations	7,502	4,037	21,564	10,027
Gain on Sale of Oil and Natural Gas Properties	-8,892,344	'	-8,892,344	'
Total Operating Expenses	5,813,788	7,835,013	28,378,499	27,556,295
INCOME (LOSS) FROM OPERATIONS	8,782,610	-2,358,879	4,907,431	-8,879,291
OTHER INCOME (EXPENSE)	'	'	'	'
Interest Expense	-21,437	-1,388,912	-276,113	-2,074,147
Warrant Revaluation Expense	-506,000	'	-4,587,000	'
Gain on Acquisition of Business, Net	'	5,769,679	'	5,758,048
Other Income (Expense), Net	3,332	-27,046	6,230	-27,046
Total Other Income (Expense), Net	-524,105	4,353,721	-4,856,883	3,656,855
INCOME (LOSS) BEFORE INCOME TAXES	8,258,505	1,994,842	50,548	-5,222,436
NET INCOME (LOSS)	8,258,505	1,994,842	50,548	-5,222,436
Less: Preferred Stock Dividends and Deemed Dividends	-13,997,089	'	-20,279,197	'
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	($5,738,584)	$1,994,842	($20,228,649)	($5,222,436)
Net Income (Loss) Per Common Share - Basic and Diluted (in Dollars per Share)	($0.13)	$0.20	($0.60)	($0.59)
Weighted Average Shares Outstanding - Basic (in Shares)	42,725,711	9,969,005	33,738,417	8,844,032
Weighted Average Shares Outstanding - Diluted (in Shares)	42,725,711	10,027,934	33,738,417	8,844,032

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) (USD $)	9 Months Ended					9 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012
		Series A Preferred Stock [Member]	Series B Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member]
Stockholders' Equity	$199,942,750	$16,932,534	$5,000	$42,954	$24,735	$270,019,428	$180,439,530	($70,119,632)	($70,170,180)
Shares outstanding (in Shares)	'	150,000	5,114,633	42,954,252	24,734,653	'	'	'	'
Common shares issued for oil and natural gas properties	6,736,935	'	'	'	'	6,735,770	'	'	'
Stock-based compensation	7,162,617	'	'	'	'	7,162,148	'	'	'
Equity offering	95,977,763	38,552,993	5,000	'	'	95,961,178	'	'	'
Equity offering (in Shares)	'	500,000	5,114,633	'	'	'	'	'	'
Redemption of preferred stock	-17,697,007	-21,620,459	'	'	'	-17,697,007	'	'	'
Redemption of preferred stock (in Shares)	'	-350,000	'	'	'	'	'	'	'
Preferred Stock Dividends Paid and Accrued	-2,582,191	'	'	'	'	-2,582,191	'	'	'
Net income	$50,548	'	'	'	'	'	'	$50,548	'

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net Income (Loss)	$50,548	($5,222,436)
Adjustments to Reconcile Net Loss to Net Cash Provided By Operating Activities:	'	'
Depletion of Oil and Natural Gas Properties	11,238,783	7,977,077
Impairment of Oil and Natural Gas Properties	'	10,191,234
Depreciation and Amortization	94,665	34,559
Amortization of Debt Issuance Costs	75,618	1,494,013
Accretion of Discount on Asset Retirement Obligations	21,564	10,027
Unrealized Loss on Commodity Derivatives	1,224,891	236,646
Gain on Sale of Oil and Natural Gas Properties	-8,892,344	'
Gain on Acquisition of Business, Net	'	-7,213,835
Warrant Revaluation Expense	4,587,000	'
Share-Based Compensation Expense	6,538,319	2,770,849
Changes in Assets and Liabilities:	'	'
Decrease (Increase) in Accounts Receivable - Oil and Natural Gas Revenues	7,650,021	-2,967,858
Increase in Accounts Receivable - Joint Interest Partners	-22,095,552	'
Decrease in Other Receivables	1,061,301	'
Increase in Prepaid Expenses and Other Current Assets	-332,718	-89,474
Increase in Other Non-Current Assets	-305,272	'
Increase in Accounts Payable	1,631,558	998,360
Increase (Decrease) in Accrued Expenses	5,537,377	-196,211
Increases in Advances from Joint Interest Partners	1,452,969	'
Net Cash Provided By Operating Activities	9,538,728	8,022,951
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Purchases of Other Property and Equipment	-343,287	-65,177
Restricted Cash Received	-21,000,000	'
Increase in Deposits for Acquisitions	-2,500,000	'
Use of (Payments for) Prepaid Drilling Costs	98,565	-282,823
Proceeds from Sale of Oil and Natural Gas Properties, Net of Transaction Costs	134,627,306	'
Investment in Oil and Natural Gas Properties	-138,610,383	-36,292,015
Net Cash Used For Investing Activities	-27,727,799	-36,640,015
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Proceeds from the Issuance of Common Stock, Net of Transaction Costs	95,977,763	69,852,809
Proceeds from Issuance of Preferred Stock and Warrants, Net of Transaction Costs	47,183,994	'
Payments on Preferred Stock	-35,000,000	'
Advances on Revolving Credit Facility and Term Loan	'	33,030,730
Payments on Revolving Credit Facility	-23,500,000	-18,030,730
Payments on Senior Secured Promissory Notes	'	-15,000,000
Payment of Assumed Debt	'	-20,303,903
Cash Paid for Finance Costs	-237,500	-1,576,508
Preferred Stock Dividends and Deemed Dividends	-6,899,657	'
Net Cash Provided by Financing Activities	77,524,600	47,972,398
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	59,335,529	19,355,334
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	10,192,379	13,927,267
CASH AND CASH EQUIVALENTS - END OF PERIOD	69,527,908	33,282,601
Supplemental Disclosure of Cash Flow Information	'	'
Cash Paid During the Period for Interest	255,776	1,107,293
Non-Cash Financing and Investing Activities:	'	'
Oil and Natural Gas Properties Included in Accounts Payable	38,646,242	35,936,773
Stock-Based Compensation Capitalized to Oil and Natural Gas Properties	624,325	493,085
Accretion on Preferred Stock Issuance Discount	8,626,000	'
Accretion of Preferred Stock Issuance Costs	2,816,000	'
Accrued Preferred Stock Dividend and Deemed Dividend	1,932,534	'
Capitalized Asset Retirement Obligations, Net	116,471	112,169
Common Stock Issued for Oil and Natural Gas Properties	6,736,935	'
Non-Cash Business Acquisitions	'	'
Oil and Natural Gas Properties	'	40,787,238
Other Property and Equipment	'	36,000
Other Assets	'	75,000
Fair Market Value of Common Stock Issued	'	13,380,500
Debt Assumed	'	$20,303,903

ORGANIZATION_AND_NATURE_OF_BUS

ORGANIZATION AND NATURE OF BUSINESS	9 Months Ended
	Sep. 30, 2013
Organization and Nature of Business [Abstract]	'
ORGANIZATION AND NATURE OF BUSINESS	'
	NOTE 1  ORGANIZATION AND NATURE OF BUSINESS
	Description of Operations — Emerald Oil, Inc., a Montana corporation (the “Company”), is an independent oil and natural gas exploration and production company engaged in the business of acquiring acreage in prospective natural resource plays within the continental United States, primarily focused on the Williston Basin located in North Dakota and Montana. The Company builds net asset value by growing reserves and converting undeveloped assets into producing wells in repeatable and scalable shale oil plays.
	The Company designs, drills and operates oil and natural gas wells on acreage where it holds a controlling working interest. The Company also participates in the drilling of oil and natural gas wells operated by other companies.
	The Company added executive management that is experienced in exploration and production of oil and natural gas resources with the acquisition of Emerald Oil North America, Inc., formerly known as Emerald Oil, Inc. (“Emerald Oil North America”), on July 26, 2012 (see Note 3 – Acquisition of Business). The Company continues to add to these internal capabilities and leveraged best practices through partnering with industry experts. Currently, the Company has 23 employees and retains independent contractors to assist in operating and managing oil and natural gas development.

BASIS_OF_PRESENTATION_AND_SIGN

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2013
Significant Accounting Policies [Abstract]	'
SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 2  SIGNIFICANT ACCOUNTING POLICIES
	The accompanying condensed consolidated financial statements have been prepared on the accrual basis of accounting whereby revenues are recognized when earned and expenses are recognized when incurred. The condensed consolidated financial statements as of June 30, 2013 and for the three and six months ended June 30, 2013 and 2012 are unaudited. In the opinion of management, such financial statements include the adjustments and accruals, which are of a normal recurring nature and are necessary for a fair presentation of the results for the interim periods. The interim results are not necessarily indicative of results for a full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted in these consolidated financial statements as of June 30, 2013 and for the three and six month periods ended June 30, 2013 and 2012.
	Interim financial results should be read in conjunction with the audited financial statements and footnotes for the year ended December 31, 2012, which were included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012.
	Reverse Stock Split
	On October 22, 2012, a majority of the Company’s shareholders approved a 1-for-7 reverse stock split pursuant to which all shareholders of record received one share of common stock for each seven shares of common stock owned (subject to minor adjustments as a result of fractional shares). This reverse stock split decreased the issued and outstanding common shares by approximately 140,339,000, the outstanding warrants by approximately 6,700,000 and the outstanding stock options by approximately 4,100,000. GAAP requires that the reverse stock split be applied retrospectively to all periods presented. As a result, all stock, warrant and option transactions described herein have been adjusted to reflect the 1-for-7 reverse stock split.
	Cash and Cash Equivalents
	The Company considers highly liquid investments with insignificant interest rate risk and original maturities of three months or less to be cash equivalents. Cash equivalents consist primarily of interest-bearing bank accounts and money market funds. The Company’s cash positions represent assets held in checking and money market accounts. These assets are generally available to the Company on a daily or weekly basis and are highly liquid in nature. Due to the balances being greater than their $250,000 insurance coverage, the Company does not have FDIC coverage on the entire amount of its bank deposits. The Company believes this risk to be minimal. In addition, the Company is subject to Security Investor Protection Corporation protection on a vast majority of its financial assets in the event one of the brokerage firms that the Company utilizes for its investments fails.
	Full Cost Method
	The Company follows the full cost method of accounting for oil and natural gas operations whereby all costs related to the exploration and development of oil and natural gas properties are initially capitalized into a single cost center (“full cost pool”). Such costs include land acquisition costs, a portion of employee salaries related to property development, geological and geophysical expenses, carrying charges on non-producing properties, costs of drilling directly related to acquisitions, and exploration activities. For the three-month periods ended June 30, 2013 and 2012, the Company capitalized $903,162 and $234,484, respectively, of internal salaries, which included $210,712 and $194,497, respectively, of stock-based compensation. For the six-month periods ended June 30, 2013 and 2012, the Company capitalized $1,218,954 and $473,099, respectively, of internal salaries, which included $310,264 and $395,768, respectively, of stock-based compensation. Internal salaries are capitalized based on employee time allocated to the acquisitions of leaseholds and development of oil and natural gas properties.
	Proceeds from property sales will generally be credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves attributable to these costs. The Company closed property sales during the six months ended June 30, 2013 in the Sand Wash Basin and the Williston Basin (see Note 4 – Oil and Natural Gas Properties). No gain or loss was recognized as the sales did not significantly alter the relationship between capitalized costs and proved reserves attributable to the Sand Wash Basin or Williston Basin. The Company engages in acreage trades in the Williston Basin, but these trades are for similar acreage both in terms of geographic location and potential resource value.
	The Company assesses all items classified as unevaluated property for possible impairment or reduction in value on a quarterly basis. The assessment includes consideration of the following factors, among others: intent to drill, remaining lease term, geological and geophysical evaluations, drilling results and activity, the assignment of proved reserves, and the economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and are then subject to depletion and amortization. For the six-month period ended June 30, 2013 and the year ended December 31, 2012, the Company reclassified $1,096,809 and $3,625,209, respectively, relating to expiring leases to costs subject to the depletion calculation.
	Capitalized costs associated with impaired properties and properties having proved reserves, estimated future development costs, and asset retirement costs under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 410-20-25 are depleted and amortized on the unit-of-production method based on the estimated gross proved reserves. The costs of unproved properties are withheld from the depletion base until such time as they are either developed, impaired, or abandoned.
	Under the full cost method of accounting, capitalized oil and natural gas property costs less accumulated depletion, net of deferred income taxes, may not exceed a ceiling amount equal to the present value, discounted at 10%, of estimated future net revenues from proved oil and natural gas reserves plus the cost of unproved properties not subject to amortization (without regard to estimates of fair value), or estimated fair value, if lower, of unproved properties that are subject to amortization. Should capitalized costs exceed this ceiling, an impairment is recognized. The present value of estimated future net revenues was computed by applying prices based on a 12-month arithmetic average of the oil and natural gas prices in effect on the first day of each month, less estimated future expenditures to be incurred in developing and producing the proved reserves (assuming the continuation of existing economic conditions), less any applicable future taxes. The Company performs this ceiling calculation each quarter. Any required write-downs are included in the consolidated statement of operations as an impairment charge. No ceiling test impairment was required during the three and six-month periods ended June 30, 2013. The Company recognized an impairment expense in the three and six-month periods ended June 30, 2012 in the amount of $10,191,234.
	Other Property and Equipment
	Property and equipment that are not oil and natural gas properties are recorded at cost and depreciated using the straight-line method over their estimated useful lives of three to seven years. Expenditures for replacements, renewals, and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation expense was $31,039 and $11,144 for the three-month periods ended June 30, 2013 and 2012, respectively. Depreciation expense was $54,034 and $22,214 for the six-month periods ended June 30, 2013 and 2012, respectively.
	ASC 360-10-35-21 requires that long-lived assets, other than oil and natural gas properties, be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The determination of impairment is based upon expectations of undiscounted future cash flows, before interest, of the related asset. If the carrying value of the asset exceeds the undiscounted future cash flows, the impairment would be computed as the difference between the carrying value of the asset and the fair value. The Company has not recognized any impairment losses on non-oil and natural gas long-lived assets.
	Asset Retirement Obligations
	The Company records the fair value of a liability for an asset retirement obligation in the period in which the well is spud or the asset is acquired and a corresponding increase in the carrying amount of the related long-lived asset. The liability is accreted to its present value each period, and the capitalized cost is depleted using the units of production method. If the liability is settled for an amount other than the recorded amount, a gain or loss is recognized.
	Revenue Recognition and Natural Gas Balancing
	The Company recognizes oil and natural gas revenues from its interests in producing wells when production is delivered and title has transferred to the purchaser, to the extent the selling price is reasonably determinable. The Company uses the sales method of accounting for balancing of natural gas production and would recognize a liability if the existing proven reserves were not adequate to cover the current imbalance situation. As of June 30, 2013 and December 31, 2012, the Company’s cumulative portion of natural gas production taken and sold from wells in which it has an interest equaled the Company’s entitled interest in natural gas production from those wells.
	Stock-Based Compensation
	The Company has accounted for stock-based compensation under the provisions of ASC 718-10-55. The Company recognizes stock-based compensation expense in the financial statements over the vesting period of equity-classified employee stock-based compensation awards based on the grant date fair value of the awards, net of estimated forfeitures. For options and warrants the Company uses the Black-Scholes option valuation model to calculate the fair value of stock-based compensation awards at the date of grant. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. The Company has used a variety of comparable and peer companies to determine the expected volatility input based on the expected term of the options and warrants granted. The Company believes the use of peer company data fairly represents the expected volatility it would experience if the Company were in the oil and natural gas industry over the expected term of the options. Changes in these assumptions can materially affect the fair value estimate.
	On May 27, 2011, the shareholders of the Company approved the 2011 Equity Incentive Plan (the “2011 Plan”), under which 714,286 shares of common stock were reserved. On October 22, 2012, the shareholders of the Company approved an amendment to the 2011 Plan to increase the number of shares authorized for issuance under the 2011 Plan to 3,500,000 shares. On July 10, 2013, the shareholders of the Company approved an amendment to the 2011 Plan to increase the number of shares authorized for issuance under the 2011 Plan to 9,800,000 shares. The purpose of the 2011 Plan is to promote the success of the Company and its affiliates by facilitating the employment and retention of competent personnel and by furnishing incentives to those officers, directors and employees upon whose efforts the success of the Company and its affiliates will depend to a large degree. It is the intention of the Company to carry out the 2011 Plan through the granting of incentive stock options, nonqualified stock options, restricted stock awards, restricted stock unit awards, performance awards and stock appreciation rights. As of June 30, 2013, 719,811 stock options and 2,758,733 shares of common stock and restricted stock units had been issued to officers, directors and employees under the 2011 Plan, including 1,827,727 unvested restricted stock units. As of June 30, 2013, there were 21,456 shares available for issuance under the 2011 Plan prior to the approval of the amendment to the 2011 Plan on July 10, 2013 to increase the number shares authorized under the 2011 Plan to 9,800,000 shares.
	Income Taxes
	The Company accounts for income taxes under ASC 740-10-30. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Accounting standards require the consideration of a valuation allowance for deferred tax assets if it is “more likely than not” that some component or all of the benefits of deferred tax assets will not be realized.
	The tax effects from an uncertain tax position can be recognized in the financial statements only if the position is more likely than not of being sustained if the position were to be challenged by a taxing authority. The Company has examined the tax positions taken in its tax returns and determined that there are no uncertain tax positions. As a result, the Company has recorded no uncertain tax liabilities in its condensed balance sheet.
	Net Income (Loss) Per Common Share
	Basic net income (loss) per common share is based on the net income (loss) divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share are computed using the weighted average number of common shares plus dilutive common share equivalents outstanding during the period using the treasury stock method. In the computation of diluted earnings per share, excess tax benefits that would be created upon the assumed vesting of unvested restricted shares or the assumed exercise of stock options (i.e., hypothetical excess tax benefits) are included in the assumed proceeds component of the treasury stock method to the extent that such excess tax benefits are more likely than not to be realized. When a loss from continuing operations exists, all potentially dilutive securities are anti-dilutive and are therefore excluded from the computation of diluted earnings per share. As the Company had losses for the three and six-month periods ended June 30, 2013 and 2012, the potentially dilutive shares were anti-dilutive and were thus not included in the net loss per share calculation.
	As of June 30, 2013: (i) 1,827,727 unvested restricted stock units were issued and outstanding and represent potentially dilutive shares; (ii) 442,843 stock options were issued and presently exercisable and represent potentially dilutive shares; (iii) 409,098 stock options were granted but are not presently exercisable and represent potentially dilutive shares; (iv) 5,114,633 warrants were issued and presently exercisable, which have an exercise price of $5.77 and represent potentially dilutive shares; (v) 223,293 warrants were issued and presently exercisable, which have an exercise price of $6.86 and represent potentially dilutive shares; and (vi) 892,858 warrants were issued and presently exercisable, which have an exercise price of $49.70 and represent potentially dilutive shares.
	Derivative and Other Financial Instruments
	Commodity Derivative Instruments
	The Company has entered into commodity derivative instruments utilizing an oil derivative swap contract to reduce the effect of price changes on a portion of future oil production. The Company’s commodity derivative instruments are measured at fair value and are included in the consolidated balance sheet as derivative assets and liabilities. Unrealized gains and losses are recorded based on the changes in the fair values of the derivative instruments. Both the unrealized and realized gains and losses resulting from the contract settlement of derivatives are recorded in the loss on commodity derivatives line on the consolidated statements of operations. The Company’s valuation estimate takes into consideration the counterparties’ credit worthiness, the Company’s credit worthiness, and the time value of money. The consideration of the factors results in an estimated exit price for each derivative asset or liability under a market place participant’s view. Management believes that this approach provides a reasonable, non-biased, verifiable, and consistent methodology for valuing commodity derivative instruments (see Note 13 – Derivative Instruments and Price Risk Management).
	Warrant Liability
	From time to time the Company may have financial instruments such as warrants that may be classified as liabilities when either (a) the holders possess rights to net cash settlement, (b) physical or net equity settlement is not in the Company’s control, or (c) the instruments contain other provisions that causes the Company to conclude that they are not indexed to the Company’s equity. Such instruments are initially recorded at fair value and subsequently adjusted to fair value at the end of each reporting period through earnings.
	As a part of the Securities Purchase Agreement with affiliates of White Deer Energy L.P. (“White Deer Energy”) (see Note 6 – Preferred and Common Stock), the Company issued warrants that contain a put and other liability type provisions. Accordingly, these warrants are accounted for as a liability. This warrant liability is accounted for at fair value with changes in fair value reported in earnings.
	New Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date.  If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption.
	Joint Ventures
	The condensed consolidated financial statements as of June 30, 2013 and 2012 include the accounts of the Company and its proportionate share of the assets, liabilities, and results of operations of the joint ventures it is involved in.
	Use of Estimates
	The preparation of consolidated financial statements under GAAP in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to proved oil and natural gas reserve volumes, future development costs, estimates relating to certain oil and natural gas revenues and expenses, fair value of derivative instruments, fair value of warrant liability, valuation of share-based compensation and the valuation of deferred income taxes. Actual results may differ from those estimates.
	Industry Segment and Geographic Information
	The Company operates in one industry segment, which is the exploration, development and production of oil and natural gas with all of the Company’s operational activities being conducted in the U.S. The Company’s current operational activities and the Company’s consolidated revenues are generated from markets exclusively in the U.S. The Company has no long-lived assets located outside the U.S.
	Principles of Consolidation
	The accompanying condensed consolidated financial statements include the accounts of Emerald Oil, Inc. and its direct and indirect wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.

ACQUISITION_OF_BUSINESS

ACQUISITION OF BUSINESS	9 Months Ended
	Sep. 30, 2013
Acquisition of Business [Abstract]	'
ACQUISITION OF BUSINESS	'
	NOTE 3 ACQUISITION OF BUSINESS
	On July 9, 2012, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Emerald Oil & Gas NL (the “Parent”) and Emerald Oil North America, Inc., a wholly owned subsidiary of the Parent, pursuant to which the Company purchased all of the outstanding capital stock of Emerald Oil North America for approximately 19.9% of the total shares of the Company’s common stock outstanding as of the closing date. The Company completed the acquisition of Emerald Oil North America on July 26, 2012 and issued approximately 1.66 million shares to the Parent. The Company assumed Emerald Oil North America’s liabilities, including approximately $20.3 million in debt owed by Emerald Oil North America. The acquisition included approximately 10,600 net acres located in Dunn County, North Dakota and approximately 45,000 net acres in the Sand Wash Basin Niobrara shale oil play in northwestern Colorado and southwestern Wyoming.
	In connection with the closing of the Emerald Oil North America acquisition, five existing members of the Company’s board of directors resigned, and their vacancies were filled with directors selected by the remaining members of the Company’s board of directors. Also in connection with the closing of the Emerald Oil North America acquisition, the Company entered into employment agreements with six members of management. Following the Emerald Oil North America acquisition, each of the Company’s directors and executive officers entered into indemnification agreements with the Company.
	Emerald Oil North America’s $20.3 million in debt obligations assumed by the Company was comprised of $17.7 million to Hartz Energy Capital, LLC (“Hartz”) and $2.5 million plus accrued interest to Parent. Both were paid in full on September 28, 2012.
	Interest on the Hartz credit agreement was in the form of an overriding royalty interest in and to all of the oil, gas and other liquid hydrocarbons produced and saved from certain of the Company’s oil and natural gas properties, free of any and all expenses of development, production, transportation, marketing and any other related or similar expenses. The overriding royalty interest was comprised of a 2.15% overriding royalty interest on Emerald Oil North America’s properties in the Williston Basin of North Dakota with a guaranteed 215 net mineral acres underlying the overriding royalty for a period of five years and a 0.09% overriding royalty interest in and to all of the oil, gas and other liquid hydrocarbons produced and saved from the Company’s properties in the Sand Wash Basin of Colorado and Wyoming with a guaranteed 382.5 net mineral acres underlying the overriding royalty for five years. On August 2, 2013, the Company terminated all surviving provisions of the credit agreement including the five year guarantee of providing net mineral acres that underlie the overriding royalty interest by assigning Hartz the Company’s working interest in certain leases of Emerald Oil North America.
	The Emerald Oil North America acquisition was accounted for using the acquisition method. Assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. The allocation of the purchase price was based upon a valuation of certain assets acquired and liabilities assumed. The Company recorded a gain on the bargain purchase of Emerald Oil North America as a result of the decrease in the Company’s share price between the announcement date (July 10, 2012) and closing date (July 26, 2012) of the acquisition in accordance with GAAP. A summary of the acquisition is below:
		(in thousands)
	Proved Oil and Natural Gas Properties	$	6,839
	Unproved Oil and Natural Gas Properties		33,948
	Other Assets		111
	Debt Assumed		(20,303	)
	Net Assets Acquired		20,595
	Equity Issued to Emerald Oil & Gas NL		(13,381	)
	Gain on Acquisition		7,214
	Less: Acquisition Costs		(1,456	)
	Gain on Acquisition, net	$	5,758
	Pro Forma Operating Results
	For the three and nine-month periods ended September 30, 2013, the Company recognized $68,930 and $282,876 in revenues, respectively, and $3,337 and $40,948 of expenses, respectively, relating to Emerald Oil North America, resulting in a net income during the three and nine-month periods ended September 30, 2013 of $65,593 and $241,927, respectively.
	The following table reflects the unaudited pro forma results of operations as though the acquisition had occurred on January 1, 2011. The pro forma amounts are not necessarily indicative of the results that may be reported in the future:
		Three Months Ended			Nine Months Ended
		30-Sep-12			30-Sep-12
	Revenues	$	5,476,134		$	18,781,520
	Net Loss Available to Common Shareholders	$	(4,070,652	)	$	(13,503,967	)
	Net Loss Per Share – Basic and Diluted	$	(0.39	)	$	(1.34	)
	Weighted Average Shares Outstanding –		10,420,683			10,099,762
	Basic and Diluted

OIL_AND_NATURAL_GAS_PROPERTIES

OIL AND NATURAL GAS PROPERTIES	9 Months Ended
	Sep. 30, 2013
Oil and Natural Gas Properties [Abstract]	'
OIL AND NATURAL GAS PROPERTIES	'
	NOTE 4  OIL AND NATURAL GAS PROPERTIES
	The value of the Company’s oil and natural gas properties consists of all acreage acquisition costs (including cash expenditures and the value of stock consideration), drilling costs and other associated capitalized costs.  Acquisitions are accounted for as purchases and, accordingly, the results of operations are included in the accompanying condensed consolidated statements of operations from the closing date of the acquisition.  Purchase prices are allocated to acquired assets based on their estimated fair value at the time of the acquisition.  The Company has historically funded acquisitions with internal cash flow and the issuance of equity securities.
	Acquisitions
	On January 9, 2013, the Company entered into a purchase and sale agreement with a third party pursuant to which the Company acquired leases of oil and natural gas properties in McKenzie County, North Dakota. Pursuant to the purchase and sale agreement and as consideration for the approximate $4.7 million purchase price of the acquired leases, the Company issued 851,315 shares of its common stock at a per share value of $5.50 per share, based on the five-day trading volume-weighted average price of the Company’s common stock prior to closing.
	On February 4, 2013, the Company entered into a purchase and sale agreement with a third party pursuant to which the Company acquired leases of oil and natural gas properties in McKenzie County, North Dakota. Pursuant to the purchase and sale agreement and as consideration for the approximate $1.9 million purchase price of the acquired leases, the Company issued 313,700 shares of its common stock at a per share value of $6.058 per share, based on the five-day trading volume-weighted average price of the Company’s common stock prior to closing.
	On April 29, 2013, the Company entered into a purchase and sale agreement with a third party to acquire approximately 5,874 net acres of undeveloped leasehold in McKenzie County, North Dakota for approximately $6.5 million in cash, or approximately $1,100 per net acre. The purchase closed on May 8, 2013.
	On August 2, 2013, the Company closed a transaction with a third party to acquire approximately 3,500 net acres of partially developed leasehold in McKenzie County, North Dakota for approximately $10.4 million or approximately $3,000 per net acre.
	On August 30, 2013, the Company closed a transaction with a third party to acquire approximately 3,600 net undeveloped operated acres in McKenzie County, North Dakota for approximately $3.6 million, or approximately $1,000 per net acre.
	On September 17, 2013, the Company leased approximately 30,672 net undeveloped leasehold acres in McKenzie, Billings and Stark Counties, North Dakota, for approximately $20.2 million, or approximately $660 per net acre. Pursuant to the lease acquired, the Company entered into an agreement with a third party in which the Company will drill at least five gross wells within the prospect area prior to September 17, 2015. The Company placed $10 million with an escrow agent, of which $2 million per well will be returned to the Company with each well drilled within the term of the escrow agreement. As of September 30, 2013, $4 million of the escrowed funds are classified as a current asset on the condensed combined balance sheet, with the remaining $6 million classified as a long-term asset.
	On September 19, 2013, the Company entered into a purchase and sale agreement with a third party to acquire approximately 2,866 net acres of undeveloped leasehold in Williams County, North Dakota for approximately $3.2 million, or approximately $1,100 per net acre. The acquisition closed on October 9, 2013. On September 20, 2013, the Company leased an additional 313 net acres of undeveloped lease hold in the same area in Williams County, North Dakota for approximately $1.3 million, or approximately $4,100 per net acre.
	As of September 30, 2013, the Company held a $2.5 million deposit with a third party lease broker to be used for lease acquisitions within parameters provided by the Company.
	Leasehold Sales
	On January 7, 2013, the Company entered into a definitive agreement with a third party, under which the Company agreed to sell its undivided 45% working interest in and to certain oil and natural gas leaseholds in the Sand Wash Basin, comprising approximately 31,000 net acres located in Routt and Moffatt Counties, Colorado and Carbon County, Wyoming. On March 28, 2013, the Company completed the transaction for an aggregate sale price of approximately $10.1 million in cash. No gain or loss was recognized as the sale did not significantly alter the relationship between capitalized costs and proved reserves.
	On April 17, 2013, the Company sold its interest in approximately 970 net mineral acres in the Williston Basin to a third party for a total sale price of approximately $7.1 million, including sales price adjustments for development costs and production revenue and operating expenses during the effective period. The acreage was associated with non-operated working interests in Williston Basin Bakken and Three Forks wells. No gain or loss was recognized as the sale did not significantly alter the relationship between capitalized costs and proved reserves.
	On September 6, 2013, the Company sold its interest in 413 non-operated net acres located in the Williston Basin for approximately $5.2 million in cash. The acreage was associated with non-operated working interests in Williston Basin Bakken and Three Forks wells. No gain or loss was recognized as the sale did not significantly alter the relationship between capitalized costs and proved reserves.
	On September 6, 2013, the Company sold its interest in 26,579 non-operated net acres located in the Williston Basin and the associated oil and natural gas production to a third party for a total sales price of approximately $111.0 million in cash, including sales price adjustments for development costs and production revenue and operating expenses during the effective period and subject to certain post-closing adjustments. $11.0 million of the sales price will remain in escrow until December 31, 2013 upon finalization of standard due diligence procedures. The acreage was associated with non-operated working interests in Williston Basin Bakken and Three Forks wells. The transaction was accounted for under the full cost method of accounting for oil and natural gas operations, in accordance with Accounting Standard Codification 932 relating to “Extractive Activities – Oil and Gas”. Under the full cost method, sales of oil and natural gas properties, whether or not being amortized, are accounted for as adjustments of capitalized costs, with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil and gas attributable to the cost center. The sale represents greater than 25 percent of the Company’s proved reserves of oil and gas attributable to the full cost pool. As a result, there is a significant alteration in the relationship between capitalized costs and proved reserves of oil and gas attributable to the full cost pool. Total capitalized costs within the full cost pool are allocated on the basis of the relative fair values of the properties sold and those retained due to substantial economic differences between the properties sold and those retained. Following this methodology, the following table represents a net sales price allocation of the transaction (in thousands):
	Sale price	$	111,090
	Add: disposition of asset retirement obligations		309
	Less: sale expenses		(1,168	)
	Sale price, net	$	110,231
	Proved oil and natural gas properties	$	137,279
	Accumulated depletion		(49,508	)
	Unproved oil and natural gas properties		13,568
	Gain on sale		8,892
	Sale price, net	$	110,231

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
RELATED PARTY TRANSACTIONS	'
	NOTE 5  RELATED PARTY TRANSACTIONS
	Senior Secured Promissory Notes
	On September 22, 2010, Steven Lipscomb and Michael Reger subscribed for $500,000 and $1,000,000 of senior secured promissory notes, respectively. The issuance of the senior secured promissory notes is described in Note 9 to the condensed consolidated financial statements. Mr. Lipscomb is a former director of the Company. Mr. Reger is a brother of J.R. Reger, who is Executive Chairman of the Company and formerly the Chief Executive Officer. The Company’s Audit Committee, which consisted solely of independent directors, reviewed and approved this transaction. The senior secured promissory notes were paid in full on February 10, 2012.
	White Deer Energy Investment
	In February 2013, the Company entered into a securities purchase agreement with affiliates of White Deer Energy L.P. (“White Deer Energy”), pursuant to which the Company issued to White Deer Energy 500,000 shares of Series A Perpetual Preferred Stock (“Series A Preferred Stock”), 5,114,633 shares of Series B Voting Preferred Stock (“Series B Preferred Stock”) and warrants to purchase an initial aggregate amount of 5,114,633 shares of the Company’s common stock at an initial exercise price of $5.77 per share, or an aggregate $50 million. Pursuant to the purchase agreement, White Deer Energy obtained the right to designate one member of the Company’s Board, and White Deer Energy has designated Thomas J. Edelman as its initial director. For additional information regarding the securities purchase agreement with White Deer Energy, see Note 6 — Preferred and Common Stock.
	On May 13, 2013, the Company entered into a securities purchase agreement with White Deer Energy. The transactions contemplated by the purchase agreement were consummated on June 4, 2013. At the closing, the Company issued 2,785,600 shares of common stock to White Deer Energy for approximately $16.2 million after deducting placement agent fees. The Company’s Audit Committee, which consisted solely of independent directors, reviewed and approved this transaction.
	On October 17, 2013, the Company entered into a securities and purchase agreement with White Deer Energy. For additional information, see Note 15 – Subsequent Events.
	In connection with both closings, the Company granted White Deer Energy certain registration rights. The registration rights agreement requires the Company to file a resale registration statement to register the shares of the Company’s common stock and the shares of common stock issuable upon exercise of the warrants held by White Deer Energy if, at any time on or after 90 days from the closing, White Deer Energy makes a written request to the Company for registration of the securities. Under the registration rights agreement, the Company is required to use its commercially reasonable efforts to cause such resale registration statement to become effective within 120 days after its filing.

PREFERRED_AND_COMMON_STOCK

PREFERRED AND COMMON STOCK	9 Months Ended
	Sep. 30, 2013
Preferred and Common Stock [Abstract]	'
PREFERRED AND COMMON STOCK	'
	NOTE 6  PREFERRED AND COMMON STOCK
	Preferred Stock
	The Company has 20,000,000 shares of preferred stock authorized. No shares of preferred stock were issued as of December 31, 2012.
	On February 19, 2013, the Company completed a private offering with affiliates of White Deer Energy pursuant to the terms of a securities purchase agreement (“Securities Purchase Agreement”), to which, in exchange for a cash investment of $50 million, the Company issued the following to White Deer Energy:
		o	500,000 shares of Series A Preferred Stock, $0.001 par value per share;
		o	5,114,633 shares of Series B Preferred Stock, $0.001 par value per share; and
		o	warrants to purchase an initial aggregate 5,114,633 shares of the Company’s common stock, $0.001 par value per share, at an initial exercise price of $5.77 per share. These warrants are exercisable until December 31, 2019.
	The Series A Preferred Stock has a cumulative dividend rate of 10% per annum, payable quarterly on each March 31, June 30, September 30 and December 31, commencing on March 31, 2013. If the Company voluntarily or involuntarily liquidates, dissolves or winds up its affairs, the Series A Preferred Stock will be entitled to receive out of available assets, after satisfaction of liabilities to creditors, if any, and before any distribution of assets is made on the Company’s common stock or any other shares of junior stock, a liquidating distribution in the amount, with respect to each share of Series A Preferred Stock, equal to the sum of (a)(1) on or prior February 19, 2015, $112.50, (2) from February 20, 2015 through February 19, 2016, $110.00, (3) from February 20, 2016 through February 19, 2017, $105.00 and (4) thereafter, $100.00 and (b) the accrued and unpaid dividends thereon (the “Liquidation Preference”). Prior to April 1, 2015, the Company may pay dividends on the Series A Preferred Stock either (x) in cash or (y) by issuance of (A) additional shares of Series A Preferred Stock valued at the same value as the initial per share purchase price of the Series A Preferred Stock and (B) an additional warrant to purchase shares of common stock; provided that such dividends must be paid in cash unless and until the shareholder approval is obtained to authorize the issuance of any additional warrants and any shares of common stock issuable upon exercise of such additional warrants. On July 10, 2013, the shareholders of the Company authorized the Company to issue at its option additional warrants and shares of common stock issuable upon exercise of such additional warrants as dividends on the Series A Preferred Stock prior to April 1, 2015.
	The Company has the option to redeem shares of Series A Preferred Stock in whole or in part at any time at the aggregate Liquidation Preference, subject to a minimum redemption amount equal to the lesser of 50,000 shares or the number of shares then outstanding. Upon a change of control, White Deer Energy has the right to require the Company to purchase the Series A Preferred Stock at the Liquidation Preference. The Series A Preferred Stock does not vote generally with the Company’s common stock, but has specified approval rights with respect to, among other things, changes to organizational documents that affect the Series A Preferred Stock, payment of dividends on the Company’s common stock or other junior stock, redemptions or repurchases of common stock or other capital stock and incurrence of certain indebtedness. Upon the occurrence of certain events of default under the revolving credit facility with Wells Fargo Bank, N.A., White Deer Energy has additional specified approval rights with respect to, among other things, the incurrence or guarantee by the Company of any indebtedness, any change in compensation or benefits of employment or severance agreements with officers and any agreement or arrangement pursuant to which the Company or any of its subsidiaries would pay or incur liability in excess of $1,000,000 over the term of such agreement or arrangement. In addition, upon an event of default, White Deer Energy has the right to require the Company to purchase the Series A Preferred Stock at the Liquidation Preference.
	On June 20, 2013, the Company redeemed 150,000 shares of the Series A Preferred Stock for $17,203,767 including $1,875,000 of redemption premium and $328,767 in accrued dividends on the redeemed shares. On August 30, 2013, the Company redeemed 200,000 shares of the Series A Preferred Stock for $22,828,767 including $2,500,000 of redemption premium and $328,767 of accrued dividends on the redeemed shares. On September 15, 2013, the Company provided notice that it would redeem the remaining 150,000 shares of the Series A Preferred Stock on October 15, 2013 for $16,932,534 including $1,875,000 of redemption premium and $57,534 in accrued dividends on the redeemed shares. The redemption and dividend are accrued for and the Series A Preferred Stock is included as a current liability at its liquidation preference value of $16,875,000 as of September 30, 2013. For each redemption, the redemption premium is treated as a dividend and recorded as a return of equity to White Deer Energy through a charge to the Company’s additional paid-in capital.
	For the three and nine-month periods ended September 30, 2013, the Company paid dividends on the Series A Preferred Stock of $706,849, and $2,524,658, respectively. No dividends were paid prior to 2013.
	The Series B Preferred Stock is entitled to vote, until January 1, 2020, in the election of directors and on all other matters submitted to a vote of the holders of common stock as a single class. Each share of Series B Preferred Stock has one vote. The Series B Preferred Stock has no dividend rights and a liquidation preference of $0.001 per share. On and from time to time after January 1, 2020 the Company may redeem, in whole or in part, the then-outstanding shares of Series B Preferred Stock, at a redemption price per share equal to $0.001. Each share of Series B Preferred Stock was issued as part of a unit with a warrant to purchase one share of common stock and will be surrendered to the Company upon exercise of a warrant.
	The warrants entitle White Deer Energy to acquire 5,114,633 shares of common stock at $5.77 per share and surrendering an equal number of shares of Series B Preferred Stock to the Company. In lieu of exercising the warrants for cash, White Deer Energy may deliver for cancellation a number of shares of Series A Preferred Stock equal to the exercise price. See Note 13 – Derivative Instruments and Price Risk Management – Warrant Liability for further discussion of the warrants.
	Upon a change of control or Liquidation Event, as defined in the Securities Purchase Agreement, the Investor has the right, but not the obligation, to elect to receive from the Company, in exchange for all, but not less than all, shares of Series A and Series B Preferred Stock and the warrants issued pursuant to the Securities Purchase Agreement and shares of common stock issued upon exercise thereof that are then held by the Investor, an additional cash payment necessary to achieve a minimum internal rate of return of 25% as calculated as defined. The calculation will take into account all cash inflows from and cash outflows to the Investor. Upon the final Series A Preferred Stock redemption on October 15, 2013, the minimum internal rate of return was achieved and no additional cash payment was necessary.
	The Company recorded the transaction by recognizing the fair value of the Series A Preferred Stock at $38,552,994 (net of offering costs of $2,816,006), Series B Preferred Stock at $5,000 and a warrant liability of $8,626,000 at time of issuance. The Company will accrete the Series A Preferred Stock to the liquidation or redemption value when it becomes probable that the event or events underlying the liquidation or redemption are probable. The Company recognized all remaining issuance discount accretion of $6,041,700 as of September 30, 2013 related to the partial redemption of preferred stock on August 30, 2013 and the accrual of the final redemption of preferred stock on October 15, 2013. There is no issuance discount remaining as of September 30, 2013.
	A summary of the preferred stock transaction components as of September 30, 2013 and the issuance date is provided below:
			September 30,			February 19, 2013
			2013			(issuance date)
	Series A Preferred Stock		$	16,875,000		$	41,369,000
	Series B Preferred Stock			5,000			5,000
	Warrant Liability			13,213,000			8,626,000
	Total		$	30,093,000		$	50,000,000
	Restricted Stock Awards and Restricted Stock Unit Awards
	The Company granted 997,042 restricted stock and restricted stock units pursuant to the 2011 Equity Incentive Plan during the three and nine-month periods ended September 30, 2013. The Company incurred compensation expense associated with restricted stock granted during 2013 of $2,856,568 for the three and nine months ended September 30, 2013. The Company incurred compensation expense associated with restricted stock granted prior to 2013 of $931,824 and $356,947 for the three months ended September 30, 2013 and 2012, respectively, and $2,721,549 and $627,562 for the nine-month periods ended September 30, 2013 and 2012, respectively. For the three and nine months ended September 30, 2013, the Company capitalized compensation expense associated with the restricted stock and restricted stock units of $285,148 and $374,250 to oil and natural gas properties, respectively. As of September 30, 2013, there was $8,142,929 of total unrecognized compensation cost related to restricted stock and restricted stock units, which is expected to be amortized over a weighted-average period of 1.1 years. The Company recognizes compensation cost for performance based grants on a tranche level basis over the requisite service period for the entire award. The fair value of restricted stock units granted is based on the stock price on the grant date and the Company assumed no annual forfeiture rate.
	As of September 30, 2013, there were 2,281,096 unvested restricted stock units outstanding with a weighted average grant date fair value of $5.00 per share. A summary of the restricted stock units and restricted stock shares outstanding is as follows:
			Number of			Weighted
			Shares			Average Grant
						Date Fair Value
	Non-vested restricted stock and restricted stock units at January 1, 2013			1,847,701		$	4.31
	Granted			596,131			7.01
	Canceled			(70,642	)		4.19
	Vested			(92,094	)		5.39
	Non-vested restricted stock and restricted stock units at September 30, 2013			2,281,096		$	5
	Equity Issuances
	The Company issued 851,315 and 313,700 shares of its common stock related to two acreage acquisitions completed on January 9, 2013 and February 4, 2013, respectively. See Note 4 – Oil and Natural Gas Properties – Acquisitions for additional details.
	On May 22, 2013, the Company completed a public offering of 12,000,000 shares of common stock at a price of $6.10 per share for total net proceeds of approximately $69.3 million.  The Company incurred costs of approximately $4.3 million related to this transaction, which costs were netted against the proceeds of the transaction through additional paid-in capital. The underwriters elected to exercise the over-allotment option to sell an additional 1,800,000 shares of common stock at $6.10 per share. The net proceeds from the over-allotment exercise were approximately $10.5 million after deducting underwriting discounts and commissions.
	On June 4, 2013, the Company completed a private placement of 2,785,600 shares of common stock at a price of $5.93 per share for net proceeds of approximately $16.2 million after deducting placement agent fees of approximately $0.2 million. The issuance of the common stock was made in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof, which exempts transactions by an issuer not involving any public offering.

STOCK_OPTIONS_AND_WARRANTS

STOCK OPTIONS AND WARRANTS	9 Months Ended
	Sep. 30, 2013
Stock Options and Warrants [Abstract]	'
STOCK OPTIONS AND WARRANTS	'
	NOTE 7  STOCK OPTIONS AND WARRANTS
	Stock Options
	On March 22, 2013, the Company granted stock options to certain employees to purchase a total of 18,000 shares of common stock exercisable at $6.59 per share. The options vest on an annual basis over 36 months with 6,000 options vesting on March 22, 2014, 2015 and 2016.
	On April 8, 2013, the Company granted stock options to certain employees to purchase a total of 69,667 shares of common stock exercisable at $6.41 per share. 25,000 of the options vest in November 2013 with the remainder vesting in March 2014.
	In July 2013, the Company granted stock options to certain employees to purchase a total of 315,334 shares of common stock exercisable at a weighted average price of $7.37 per share. The options vest incrementally at various dates between April 2014 and September 2016.
	The impact on the Company’s statement of operations of stock-based compensation expense related to options granted for the three-month periods ended September 30, 2013 and 2012 was $384,130 and $1,707,732, respectively, net of $0 tax. The impact on the Company’s statement of operations of stock-based compensation expense related to options granted for the nine-month periods ended September 30, 2013 and 2012 was $960,202 and $2,083,360, respectively, net of $0 tax. The Company capitalized $28,913 and $250,074 of compensation to oil and natural gas properties related to outstanding options for the three- and nine-month period ended September 30, 2013, respectively. The Company will recognize approximately $1,820,000 amortized over a weighted-average period of 1.5 years relating to options that have been granted but have not vested as of September 30, 2013.
	The following assumptions were used for the Black-Scholes model to value the options granted during the nine- month period ended September 30, 2013.
	Risk free rates		0.71% -2.12%
	Dividend yield		0%
	Expected volatility		73.1% - 79.5%
	Weighted average expected life		5.8 years
	A summary of the stock options outstanding as of January 1, 2013 and September 30, 2013 is as follows:
		Number of			Weighted
		Options			Average
					Exercise Price
	Balance outstanding at January 1, 2013		835,702		$	10.43
	Granted		403,001			7.17
	Canceled		(50,000	)		14.89
	Exercised		(75,000	)		4.43
	Balance outstanding at September 30, 2013		1,113,703		$	9.52
	Options exercisable at September 30, 2013		521,416		$	11.57
	At September 30, 2013, stock options outstanding were as follows:
		Options Outstanding							Options Exercisable
	Year of	Number of			Weighted		Weighted		Number of		Weighted		Weighted
	Grant	Options			Average		Average		Options		Average		Average
		Outstanding			Remaining		Exercise		Exercisable		Remaining		Exercise
					Contract		Price				Contract Life		Price
					Life (years)						(years)
	2013		403,001			7.73	$	7.17		—		—	$	—
	2012		574,999			3.24		8.43		385,713		2.72		8.5
	Prior		135,703			2.27		21.11		135,703		2.27		21.11
	Total		1,113,703			4.75	$	9.52		521,416		2.6	$	11.57
	Warrants
	The table below reflects the status of warrants outstanding at September 30, 2013:
		Warrants			Exercise Price		Expiration Date
	1-Dec-09		37,216		$	6.86	1-Dec-19
	31-Dec-09		186,077		$	6.86	31-Dec-19
	8-Feb-11		892,857		$	49.7	8-Feb-16
	19-Feb-13		5,114,633		$	5.77	31-Dec-19
			6,230,783
	No warrants expired or were forfeited during the nine-month period ended September 30, 2013. All of the compensation expense related to the applicable vested warrants issued to employees has been expensed by the Company prior to 2012. All warrants outstanding were exercisable at September 30, 2013. See Note 13 – Derivative Instruments and Price Risk Management for details on the treatment of the warrants issued on February 19, 2013.

REVOLVING_CREDIT_FACILITY

REVOLVING CREDIT FACILITY	9 Months Ended
	Sep. 30, 2013
Revolving Credit Facility [Abstract]	'
REVOLVING CREDIT FACILITY	'
	NOTE 8 REVOLVING CREDIT FACILITY
	Wells Fargo
	On November 20, 2012, the Company entered into a credit agreement (the “Credit Agreement”) with Wells Fargo Bank, N.A. (“Wells Fargo”), as administrative agent, and the lenders party thereto. The Credit Agreement is a senior secured reserve-based revolving credit facility with a maximum commitment of $400 million and an initial borrowing base of $27.5 million (the “Wells Fargo Facility”). As of September 30, 2013, the borrowing base was $75.0 million.
	Amounts borrowed under the Wells Fargo Facility will mature on November 20, 2017, and upon such date, any amounts outstanding under the Wells Fargo Facility are due and payable. Redeterminations of the borrowing base will be on a semi-annual basis, with an option to elect an additional redetermination every six months between the semi-annual redeterminations.
	The annual interest cost, which is dependent upon the percentage of the borrowing base utilized, is, at the Company’s option, based on either the Alternate Base Rate (as defined in the Credit Agreement) plus 0.75% to 1.75% or the London Interbank Offer Rate (LIBOR) plus 1.75% to 2.75%; provided, in no event may the interest exceed the maximum interest rate allowed by any current or future law.  Interest on ABR Loans is due and payable on a quarterly basis, and interest on Eurodollar Loans is due and payable, at the Company’s option, at one-, two-, three-, six- (or in some cases nine- or twelve-) month intervals. The Company also pays a commitment fee ranging from 0.375% to 0.5%, depending on the percentage of the borrowing base utilized. As of September 30, 2013, the annual interest rate on the Wells Fargo Facility was 0.375% which is the minimum commitment fee, as no funds were drawn against the Wells Fargo Facility.
	A portion of the Wells Fargo Facility not in excess of $5 million will be available for the issuance of letters of credit by Wells Fargo. The Company will pay a rate per annum ranging from 1.75% to 2.75% on the face amount of each letter of credit issued and will pay a fronting fee equal to the greater of $500 and 0.125% of the face amount of each letter of credit issued. As of September 30, 2013, the Company has not obtained any letters of credit under the Wells Fargo Facility.
	Each of the Company’s subsidiaries is a guarantor under the Wells Fargo Facility. The Wells Fargo Facility is secured by first priority, perfected liens and security interests on substantially all assets of the Company and the guarantors, including a pledge of their ownership in their respective subsidiaries.
	The Credit Agreement contains customary covenants that include, among other things: limitations on the ability of the Company to incur or guarantee additional indebtedness; create liens; pay dividends on or repurchase stock; make certain types of investments; enter into transactions with affiliates; and sell assets or merge with other companies. The Credit Agreement also requires compliance with certain financial covenants, including, (a) a ratio of current assets to current liabilities of at least 1.00 to 1.00, (b) a maximum ratio of debt to EBITDA for the preceding four fiscal quarters of no more than 3.50 to 1.00, and (c) a fixed charge coverage ratio for any four fiscal quarters of at least 3.00 to 1.00. The Company was in compliance for all covenants as of September 30, 2013.
	The principal balance amount on the Credit Agreement was approximately $0 and $23.5 million at September 30, 2013 and December 31, 2012, respectively. The Company had approximately $75.0 million available under the Wells Fargo Facility as of September 30, 2013.
	Macquarie Bank Limited
	On February 10, 2012, the Company entered into a revolving credit facility (the “Macquarie Facility”) with Macquarie Bank Limited (“MBL”). The Macquarie Facility provided up to a maximum of $150 million in principal amount of borrowings to be used as working capital for exploration and production operations. Initially, $15 million of financing was available under the Macquarie Facility based on reserves, with an additional $50 million available under a development tranche.
	On July 26, 2012, the Company entered into an amended and restated credit agreement with MBL to expand the existing availability and outstanding balance under its existing Macquarie Facility and drew $15 million of additional debt on a new third tranche at an initial rate of 9% above the applicable LIBOR and had the potential to draw a maximum of $20 million. The $15 million drawn was used for existing development activities and was paid in full with proceeds from the equity offering completed on September 28, 2012. The remaining balance on the Macquarie Facility was paid in full on November 20, 2012.

SENIOR_SECURED_PROMISSORY_NOTE

SENIOR SECURED PROMISSORY NOTES	9 Months Ended
	Sep. 30, 2013
Senior Secured Promissory Notes [Abstract]	'
SENIOR SECURED PROMISSORY NOTES	'
	NOTE 9  SENIOR SECURED PROMISSORY NOTES
	In September 2010, the Company issued senior secured promissory notes in the principal amount of $15 million (the “Notes”) in order to finance future drilling and development activities. Proceeds of the Notes were used primarily to fund developmental drilling on the Company’s significant acreage positions targeting the Williston Basin — Bakken/Three Forks area and the Niobrara formation located in the DJ Basin through the joint venture with Slawson.
	The Notes were paid in full on February 10, 2012 in conjunction with the Company entering into the Macquarie Facility (see Note 8 – Revolving Credit Facility).

ASSET_RETIREMENT_OBLIGATION

ASSET RETIREMENT OBLIGATION	9 Months Ended
	Sep. 30, 2013
Asset Retirement Obligation [Abstract]	'
ASSET RETIREMENT OBLIGATION	'
	NOTE 10  ASSET RETIREMENT OBLIGATION
	The Company has asset retirement obligations associated with the future plugging and abandonment of its proved oil and natural gas properties and related facilities. Under the provisions of ASC 410-20-25, the fair value of a liability for an asset retirement obligation is recorded in the period in which it is incurred and a corresponding increase in the carrying amount of the related long lived asset. The liability is accreted to its present value each period, and the capitalized cost is depleted using the units of production method. If the liability is settled for an amount other than the recorded amount, a gain or loss is recognized. The fair value of additions to the asset retirement obligations is estimated using valuation techniques that convert future cash flows to a single discounted amount.  Significant inputs to the valuation include estimates of: (i) plug and abandon costs per well based on existing regulatory requirements; (ii) remaining life per well; (iii) future inflation factors (2.5% for each of the years in the three-year period ended September 30, 2013); and (iv) a credit-adjusted risk-free interest rate (average of 7.0% for each of the years in the three-year period ended September 30, 2013). These inputs require significant judgments and estimates by the Company’s management at the time of the valuation and are the most sensitive and subject to change. The Company has no assets that are legally restricted for purposes of settling asset retirement obligations.
	The following table summarizes the Company’s asset retirement obligation transactions recorded in accordance with the provisions of ASC 410-20-25 for the nine-month period ended September 30, 2013 and the year ended December 31, 2012:
		30-Sep-13			31-Dec-12
	Beginning Asset Retirement Obligation	$	296,074		$	116,119
	Liabilities Incurred or Acquired		429,096			164,967
	Accretion of Discount on Asset Retirement Obligations		21,564			14,988
	Liabilities Associated with Properties Sold		(312,625	)		—
	Ending Asset Retirement Obligation	$	434,109		$	296,074

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2013
Income Taxes [Abstract]	'
INCOME TAXES	'
	NOTE 11  INCOME TAXES
	Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Accounting standards require the consideration of a valuation allowance for deferred tax assets if it is “more likely than not” that some component or all of the benefits of deferred tax assets will not be realized.  As of September 30, 2013 and December 31, 2012, the Company maintains a full valuation allowance for all deferred tax assets.  Based on these requirements no provision or benefit for income taxes has been recorded for deferred taxes. There were no recorded unrecognized tax benefits at the end of the reporting period.

FAIR_VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2013
Fair Value [Abstract]	'
FAIR VALUE	'
	NOTE 12 FAIR VALUE
	ASC 820-10-55 defines fair value, establishes a framework for measuring fair value under GAAP and enhances disclosures about fair value measurements. Fair value is defined under ASC 820-10-55 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.  Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.  The standard describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:
	Level 1 – Unadjusted quoted prices in active markets that are accessible at measurement date for identical assets or liabilities.
	Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
	Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities and less observable from objective sources.
	The level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The Company’s policy is to recognize transfer in and/or out of fair value hierarchy as of the end of the reporting period for which the event or change in circumstances caused the transfer. The Company has consistently applied the valuation techniques discussed below for the periods presented. These valuation policies are determined by the Company’s Chief Accounting Officer and approved by the Chief Financial Officer. They are discussed with the Company’s Audit Committee as deemed appropriate. Each quarter, the Vice President of Accounting and Chief Financial Officer update the inputs used in the fair value measurement and internally review the changes from period to period for reasonableness. The Company uses data from peers as well as external sources in the determination of the volatility and risk free rates used in the Company’s fair value calculations. A sensitivity analysis is performed as well to determine the impact of inputs on the ending fair value estimate.
	Fair Value on a Recurring Basis
	The following schedule summarizes the valuation of financial instruments measured at fair value on a recurring basis in the condensed consolidated balance sheet as of September 30, 2013:
		Fair Value Measurements at
		September 30, 2013 Using
		Quoted			Significant			Significant
		Prices In			Other			Unobservable
		Active			Observable			Inputs
		Markets for			Inputs			(Level 3)
		Identical			(Level 2)
		Assets
		(Level 1)
	Warrant Liability – Long Term Liability	$	—		$	—		$	(13,213,000	)
	Commodity Derivatives – Current Liability (oil swaps)					(1,431,091	)
	Commodity Derivatives – Long Term Asset (oil swaps)		—			25,017			—
	Total	$	—		$	(1,406,074	)	$	(13,213,000	)
	The following schedule summarizes the valuation of financial instruments measured at fair value on a recurring basis in the condensed consolidated balance sheet as of December 31, 2012:
		Fair Value Measurements at
		December 31, 2012 Using
		Quoted			Significant			Significant
		Prices In			Other			Unobservable
		Active			Observable			Inputs
		Markets for			Inputs			(Level 3)
		Identical			(Level 2)
		Assets
		(Level 1)
	Commodity Derivatives – Current Liability (oil swaps and collars)	$	—		$	(206,645	)	$	—
	Commodity Derivatives – Long Term Asset (oil swaps and collars)		—			25,397			—
	Total	$	—		$	(181,248	)	$	—
	Level 2 assets consist of commodity derivative assets and liabilities (see Note 13 – Derivative Instruments and Price Risk Management).  The fair value of the commodity derivative assets and liabilities are estimated by the Company using the income valuation techniques utilizing an option pricing or discounted cash flow model, as appropriate, which take into account notional quantities, market volatility, market prices, contract parameters and discount rates based on published LIBOR rates. The Company validates the data provided by third parties by understanding the pricing models used, obtaining market values from other pricing sources, analyzing pricing data in certain situations and confirming that those securities trade in active markets.  Assumed credit risk adjustments, based on published credit ratings, public bond yield spreads and credit default swap spreads, are applied to the Company’s commodity derivatives. Significant changes in the quoted forward prices for commodities and changes in market volatility generally leads to corresponding changes in the fair value measurement of the Company’s oil derivative contracts. The fair value of all derivative contracts is reflected on the consolidated balance sheets.
	A rollforward of Level 3 warrants liability measured at fair value using Level 3 on a recurring basis is as follows (in thousands):
	Balance, at December 31, 2012	$	—
	Purchases, issuances, and settlements		(8,626,000	)
	Change in Fair Value of Warrant Liability		(4,587,000	)
	Transfers		—
	Balance, at September 30, 2013	$	(13,213,000	)
	The fair value of the warrants upon issuance to White Deer Energy on February 19, 2013 was recorded at $8,626,000. The warrant revaluation expense was $506,000 and $4,587,000 for the three- and nine-month periods ended September 30, 2013, respectively, and is included in Other Income/Expense on the accompanying Condensed Consolidated Statements of Operations. See discussion of assumptions used in valuing the warrants at Note 13 – Derivative Instruments and Price Risk Management.
	Nonrecurring Fair Value Measurements
	The Company follows the provisions of ASC 820-10 for nonfinancial assets and liabilities measured at fair value on a nonrecurring basis. As it relates to the Company, ASC 820-10 applies to certain nonfinancial assets and liabilities as may be acquired in a business combination and thereby measured at fair value and the initial recognition of asset retirement obligations for which fair value is used.
	The asset retirement obligation estimates are derived from historical costs as well as management’s expectation of future cost environments. As there is no corroborating market activity to support the assumptions used, the Company has designated these liabilities as Level 3. A reconciliation of the beginning and ending balances of the Company’s asset retirement obligation is presented in Note 10 – Asset Retirement Obligation.
	The Company’s non-derivative financial instruments include cash and cash equivalents, accounts receivable, accounts payable, the Wells Fargo Facility and the Series A Preferred Stock. The carrying amount of cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of their immediate or short-term maturities. The book value of the Wells Fargo Facility approximates fair value because of its floating rate structure. The Series A Preferred Stock had a fair value and carrying value of $16,875,000 as of September 30, 2013. The carrying value approximated its fair value and liquidation preference value due to the redemption of the remaining outstanding shares of Series A Preferred Stock on October 15, 2013. The Company has classified the valuations of the Wells Fargo Facility and the Series A Preferred Stock under Level 2 item of the fair value hierarchy.

DERIVATIVE_INSTRUMENTS_AND_PRI

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT	9 Months Ended
	Sep. 30, 2013
Derivative Instruments and Price Risk Management [Abstract]	'
DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT	'
	NOTE 13 DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT
	Commodity
	The Company utilizes commodity swap contracts to (i) reduce the effects of volatility in price changes on the oil commodities it produces and sells, (ii) reduce commodity price risk and (iii) provide a base level of cash flow in order to assure it can execute at least a portion of its capital spending.
	All derivative positions are carried at their fair value on the condensed consolidated balance sheet and are marked-to-market at the end of each period. Both the unrealized and realized gains and losses resulting from the contract settlement of derivatives are recorded in the loss on commodity derivatives line on the condensed consolidated statement of operations.
	The Company has a master netting agreement on each of the individual oil contracts and therefore the current asset and liability are netted on the condensed consolidated balance sheet and the non-current asset and liability are netted on the condensed consolidated balance sheet.
	The following table reflects open commodity swap contracts as of September 30, 2013, the associated volumes and the corresponding weighted average NYMEX reference price:
	Settlement Period	Oil (Bbls)				Fixed Price
	Oil Swaps
	October 1, 2013 – December 31, 2013		30,870			$	91
	October 1, 2013  – December 31, 2013		12,000				90.05
	October 1, 2013 – December 31, 2013		30,000				94.3
	2013 Total/Average		72,870			$	92.2
	January 1, 2014 – December 31, 2014		103,267			$	91
	January 1, 2014 – December 31, 2014		31,000				90.05
	January 1, 2014 – December 31, 2014		79,000				94.3
	2014 Total/Average		213,267			$	92.08
	January 1, 2015 – February 28, 2015		13,876			$	91
	January 1, 2015 – February 28, 2015		5,000				90.05
	January 1, 2015 – February 28, 2015		10,000				94.3
	2015 Total/Average		28,876			$	91.98
	The use of derivative transactions involves the risk that the counterparties will be unable to meet the financial terms of such transactions. The Company has netting arrangements with Wells Fargo Bank, N.A. that provide for offsetting payables against receivables from separate derivative instruments.
	Warrant Liability
	The warrants issued to White Deer Energy pursuant to the Securities Purchase Agreement are classified as liabilities on the consolidated balance sheets because the warrants contain a contingent put and other liability type provisions (see Note 6 – Preferred and Common Stock). The shares underlying the warrants are contingently redeemable and are subject to remeasurement at each balance sheet date, and any changes in fair value will be recognized as a component of other (expense) income on the accompanying consolidated statements of operations.
	The Company estimated the value of the warrants issued with the Securities Purchase Agreement on the date of issuance to be $8,626,000, or $1.69 per warrant, using the Monte Carlo model with the following assumptions: a term of 1,798 trading days, exercise price of $5.77, volatility rate of 40%, and a risk-free interest rate of 1.38%. The Company remeasured the warrants as of September 30, 2013, using the same Monte Carlo model, using the following assumptions: a term of 1,626 trading days, exercise price of $5.77, stock price of $7.19, volatility rate of 40%, and a risk-free interest rate of 2.0%. As of September 30, 2013, the fair value of the warrants was $13,213,000, and was recorded as a liability on the accompanying consolidated balance sheets. An increase in any of the variables would cause an increase in the fair value of the warrants. Likewise, a decrease in any variable would cause a decrease in the value of the warrants.
	At September 30, 2013, the Company had derivative financial instruments recorded on the condensed consolidated balance sheet as set forth below:
	Type of Contract	Balance Sheet Location
	Derivative Assets (Liabilities):
	Swap Contracts	Current liabilities		$	(1,431,091	)
	Swap Contracts	Non-current assets			25,017
	Warrant Liability	Non-current liabilities			(13,213,000	)
	Total Derivative Liabilities			$	(14,619,074	)
	For the three and nine-month periods ended September 30, 2013, the Company recorded the change in values for the derivative instruments as set forth below:
	Type of Contract	Statement of Operation		Three Months				Nine Months
		Location		Ended				Ended
				September 30,				September 30,
				2013				2013
	Unrealized Losses:
	Swap Commodity Contracts	Loss on Commodity Derivatives		$	(1,455,405	)		$	(1,224,891	)
	Warrant Liability	Warrant Revaluation Expense			(506,000	)			(4,587,000	)
	Total Unrealized Losses, Net			$	(1,961,405	)		$	(5,811,891	)
	Realized Losses:
	Swap Commodity Contracts	Loss on Commodity Derivatives		$	(1,264,755	)		$	(1,597,536	)
	Total Realized Losses				(1,264,755	)			(1,597,536	)
	For the three and nine-month periods ended September 30, 2012, the Company recorded the change in values for the derivative instruments as set forth below:
	Type of Contract	Statement of Operation		Three Months				Nine Months
		Location		Ended				Ended
				September 30,				September 30,
				2012				2012
	Unrealized Losses:
	Costless Commodity Collars	Loss on Commodity Derivatives		$	(1,514,729	)		$	(236,646	)
	Total Unrealized Losses			$	(1,514,729	)		$	(236,646	)
	Realized Losses:
	Costless Commodity Collars	Loss on Commodity Derivatives		$	(120,706	)		$	(59,681	)
	Total Realized Losses				(120,706	)			(59,681	)

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	NOTE 14 COMMITMENTS AND CONTINGENCIES
	The Company is subject to litigation claims and governmental and regulatory proceedings arising in the ordinary course of business.  These claims and proceedings are subject to uncertainties inherent in any litigation. However, the Company believes that all such litigation matters are not likely to have a material adverse effect on the Company’s financial position, cash flows or results of operations.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	NOTE 15 SUBSEQUENT EVENTS
	On October 2, 2013, the Company completed a public offering of 15,000,000 shares of common stock at a price of $6.70 per share for total net proceeds of approximately $95.5 million.  The Company incurred costs of approximately $5.0 million related to this transaction, which costs were netted against the proceeds of the transaction through additional paid-in capital. The underwriters elected to exercise the over-allotment option to sell an additional 2,250,000 shares of common stock at $6.70 per share. The net proceeds from the over-allotment exercise were approximately $14.4 million after deducting underwriting discounts and commissions.
	On September 19, 2013, the Company entered into a purchase and sale agreement with a third party to acquire approximately 2,866 net acres of undeveloped leasehold in Williams County, North Dakota for approximately $3.2 million. The purchase closed on October 9, 2013.
	On October 15, 2013, the Company redeemed the remaining 150,000 shares outstanding of the Series A Preferred Stock for $16,932,534 including $1,875,000 of redemption premium and $57,534 in accrued dividends on the redeemed shares. The redemption premium is treated as a dividend and recorded as a return of equity to the investor through a charge to the Company’s additional paid-in capital. The redemption and dividend are accrued for and the Series A Preferred Stock is included as a current liability at its liquidation preference value of $16,875,000 as of September 30, 2013
	On October 17, 2013, the Company completed a private placement of 5,092,852 shares of common stock at a price of $6.39 per share for net proceeds of approximately $32.5 million. The Company’s Audit Committee, which consisted solely of independent directors, reviewed and approved this transaction. The issuance of the common stock was made in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof, which exempts transactions by an issuer not involving any public offering.

BASIS_OF_PRESENTATION_AND_SIGN1

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2013
Significant Accounting Policies [Abstract]	'
Reverse Stock Split, Policy	'
	Reverse Stock Split
	On October 22, 2012, a majority of the Company’s shareholders approved a 1-for-7 reverse stock split pursuant to which all shareholders of record received one share of common stock for each seven shares of common stock owned (subject to minor adjustments as a result of fractional shares). This reverse stock split decreased the issued and outstanding common shares by approximately 140,339,000, the outstanding warrants by approximately 6,700,000 and the outstanding stock options by approximately 4,100,000. GAAP requires that the reverse stock split be applied retrospectively to all periods presented. As a result, all stock, warrant and option transactions described herein have been adjusted to reflect the 1-for-7 reverse stock split.
Cash and Cash Equivalents, Policy	'
	Cash and Cash Equivalents
	The Company considers highly liquid investments with insignificant interest rate risk and original maturities of three months or less to be cash equivalents. Cash equivalents consist primarily of interest-bearing bank accounts and money market funds. The Company’s cash positions represent assets held in checking and money market accounts. These assets are generally available to the Company on a daily or weekly basis and are highly liquid in nature. Due to the balances being greater than their $250,000 insurance coverage, the Company does not have FDIC coverage on the entire amount of its bank deposits. The Company believes this risk to be minimal. In addition, the Company is subject to Security Investor Protection Corporation protection on a vast majority of its financial assets in the event one of the brokerage firms that the Company utilizes for its investments fails.
Full Cost Method, Policy	'
	Full Cost Method
	The Company follows the full cost method of accounting for oil and natural gas operations whereby all costs related to the exploration and development of oil and natural gas properties are initially capitalized into a single cost center (“full cost pool”). Such costs include land acquisition costs, a portion of employee salaries related to property development, geological and geophysical expenses, carrying charges on non-producing properties, costs of drilling directly related to acquisitions, and exploration activities. For the three-month periods ended September 30, 2013 and 2012, the Company capitalized $905,631 and $151,719, respectively, of internal salaries, which included $314,061 and $97,317, respectively, of stock-based compensation. For the nine-month periods ended September 30, 2013 and 2012, the Company capitalized $2,124,585 and $624,818, respectively, of internal salaries, which included $624,325 and $493,085, respectively, of stock-based compensation. Internal salaries are capitalized based on employee time allocated to the acquisitions of leaseholds and development of oil and natural gas properties.
	Proceeds from property sales will generally be credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves attributable to these costs. The Company closed property sales during the nine months ended September 30, 2013 in the Williston Basin and Sand Wash Basin (see Note 4 – Oil and Natural Gas Properties). A gain was recognized on one transaction that resulted in the sale of a significant portion of proved reserves as of the transaction date and significantly altered the relationship between capitalized costs and proved reserves attributable to the Williston Basin. No gain or loss was recognized on any other sales during the period. The Company engages in acreage trades in the Williston Basin, but these trades are generally for acreage that is similar both in terms of geographic location and potential resource value.
	The Company assesses all items classified as unevaluated property for possible impairment or reduction in value on a quarterly basis. The assessment includes consideration of the following factors, among others: intent to drill, remaining lease term, geological and geophysical evaluations, drilling results and activity, the assignment of proved reserves, and the economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and are then subject to depletion and amortization. For the nine-month period ended September 30, 2013 and the year ended December 31, 2012, the Company reclassified unevaluated properties with associated costs of $1,630,740 and $3,625,209, respectively, relating to expiring leases to costs subject to the depletion calculation.
	Capitalized costs associated with impaired properties and properties having proved reserves, estimated future development costs, and asset retirement costs under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 410-20-25 are depleted and amortized on the unit-of-production method based on the estimated gross proved reserves. The costs of unproved properties are withheld from the depletion base until such time as they are either developed, impaired, or abandoned.
	Under the full cost method of accounting, capitalized oil and natural gas property costs less accumulated depletion, net of deferred income taxes, may not exceed a ceiling amount equal to the present value, discounted at 10%, of estimated future net revenues from proved oil and natural gas reserves plus the cost of unproved properties not subject to amortization (without regard to estimates of fair value), or estimated fair value, if lower, of unproved properties that are subject to amortization. Should capitalized costs exceed this ceiling, an impairment is recognized. The present value of estimated future net revenues is computed by applying prices based on a 12-month arithmetic average of the oil and natural gas prices in effect on the first day of each month, less estimated future expenditures to be incurred in developing and producing the proved reserves (assuming the continuation of existing economic conditions), less any applicable future taxes. The Company performs this ceiling calculation each quarter. Any required write-downs are included in the consolidated statement of operations as an impairment charge. No ceiling test impairment was required during the three and nine-month periods ended September 30, 2013. The Company recognized an impairment expense in the three- and nine-month periods ended September 30, 2012 in the amount of $0 and $10,191,234, respectively.
Other Property and Equipment, Policy	'
	Other Property and Equipment
	Property and equipment that are not oil and natural gas properties are recorded at cost and depreciated using the straight-line method over their estimated useful lives of three to seven years. Expenditures for replacements, renewals, and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation expense was $40,631 and $12,345 for the three-month periods ended September 30, 2013 and 2012, respectively. Depreciation expense was $94,665 and $34,559 for the nine-month periods ended September 30, 2013 and 2012, respectively.
	ASC 360-10-35-21 requires that long-lived assets, other than oil and natural gas properties, be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The determination of impairment is based upon expectations of undiscounted future cash flows, before interest, of the related asset. If the carrying value of the asset exceeds the undiscounted future cash flows, the impairment would be computed as the difference between the carrying value of the asset and the fair value. The Company has not recognized any impairment losses on non-oil and natural gas long-lived assets.
Asset Retirement Obligations, Policy	'
	Asset Retirement Obligations
	The Company records the fair value of a liability for an asset retirement obligation in the period in which the well is spud or the asset is acquired and a corresponding increase in the carrying amount of the related long-lived asset. The liability is accreted to its present value each period, and the capitalized cost is depleted using the units of production method. If the liability is settled for an amount other than the recorded amount, a gain or loss is recognized.
Revenue Recognition and Natural Gas Balancing, Policy	'
	Revenue Recognition and Natural Gas Balancing
	The Company recognizes oil and natural gas revenues from its interests in producing wells when production is delivered and title has transferred to the purchaser, to the extent the selling price is reasonably determinable. The Company uses the sales method of accounting for balancing of natural gas production and would recognize a liability if the existing proven reserves were not adequate to cover the current imbalance situation. As of September 30, 2013 and December 31, 2012, the Company’s cumulative portion of natural gas production taken and sold from wells in which it has an interest equaled the Company’s entitled interest in natural gas production from those wells.
Stock-Based Compensation, Policy	'
	Stock-Based Compensation
	The Company has accounted for stock-based compensation under the provisions of ASC 718-10-55. The Company recognizes stock-based compensation expense in the financial statements over the vesting period of equity-classified employee stock-based compensation awards based on the grant date fair value of the awards, net of estimated forfeitures. For options and warrants the Company uses the Black-Scholes option valuation model to calculate the fair value of stock-based compensation awards at the date of grant. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. The Company has used a variety of comparable and peer companies to determine the expected volatility input based on the expected term of the options and warrants granted. The Company believes the use of peer company data fairly represents the expected volatility it would experience if the Company were in the oil and natural gas industry over the expected term of the options. Changes in these assumptions can materially affect the fair value estimate.
	On May 27, 2011, the shareholders of the Company approved the 2011 Equity Incentive Plan (the “2011 Plan”), under which 714,286 shares of common stock were reserved. On October 22, 2012, the shareholders of the Company approved an amendment to the 2011 Plan to increase the number of shares authorized for issuance under the 2011 Plan to 3,500,000 shares. On July 10, 2013, the shareholders of the Company approved an amendment to the 2011 Plan to increase the number of shares authorized for issuance under the 2011 Plan to 9,800,000 shares. The purpose of the 2011 Plan is to promote the success of the Company and its affiliates by facilitating the employment and retention of competent personnel and by furnishing incentives to those officers, directors and employees upon whose efforts the success of the Company and its affiliates will depend to a large degree. It is the intention of the Company to carry out the 2011 Plan through the granting of incentive stock options, nonqualified stock options, restricted stock awards, restricted stock unit awards, performance awards and stock appreciation rights. As of September 30, 2013, 1,006,573 stock options and 3,702,254 shares of common stock and restricted stock units had been issued to officers, directors and employees under the 2011 Plan, including 2,391,051 restricted stock units that were unvested at the time of the grant. As of September 30, 2013, there were 5,091,173 shares available for issuance under the 2011 Plan.
Income Taxes, Policy	'
	Income Taxes
	The Company accounts for income taxes under ASC 740-10-30. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Accounting standards require the consideration of a valuation allowance for deferred tax assets if it is “more likely than not” that some component or all of the benefits of deferred tax assets will not be realized.
	The tax effects from an uncertain tax position can be recognized in the financial statements only if the position is more likely than not of being sustained if the position were to be challenged by a taxing authority. The Company has examined the tax positions taken in its tax returns and determined that there are no uncertain tax positions. As a result, the Company has recorded no uncertain tax liabilities in its condensed balance sheet.
Net Income (Loss) Per Common Share, Policy	'
	Net Income (Loss) Per Common Share
	Basic net income (loss) per common share is based on the net income (loss) attributable to common stockholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share are computed using the weighted average number of common shares plus dilutive common share equivalents outstanding during the period using the treasury stock method. In the computation of diluted earnings per share, excess tax benefits that would be created upon the assumed vesting of unvested restricted shares or the assumed exercise of stock options (i.e., hypothetical excess tax benefits) are included in the assumed proceeds component of the treasury stock method to the extent that such excess tax benefits are more likely than not to be realized. When a loss from continuing operations exists, all potentially dilutive securities are anti-dilutive and are therefore excluded from the computation of diluted earnings per share. As the Company had losses for the three- and nine-month periods ended September 30, 2013 and 2012, the potentially dilutive shares were anti-dilutive and were thus not included in the net loss per share calculation.
	As of September 30, 2013: (i) 2,281,096 unvested restricted stock units were issued and outstanding and represent potentially dilutive shares; (ii) 521,416 stock options were issued and presently exercisable and represent potentially dilutive shares; (iii) 592,287 stock options were granted but are not presently exercisable and represent potentially dilutive shares; (iv) 5,114,633 warrants were issued and presently exercisable, which have an exercise price of $5.77 and represent potentially dilutive shares; (v) 223,293 warrants were issued and presently exercisable, which have an exercise price of $6.86 and represent potentially dilutive shares; and (vi) 892,858 warrants were issued and presently exercisable, which have an exercise price of $49.70 and represent potentially dilutive shares.
Derivative and Other Financial Instruments, Policy	'
	Derivative and Other Financial Instruments
	Commodity Derivative Instruments
	The Company has entered into commodity derivative instruments utilizing an oil derivative swap contract to reduce the effect of price changes on a portion of future oil production. The Company’s commodity derivative instruments are measured at fair value and are included in the consolidated balance sheet as derivative assets and liabilities. Unrealized gains and losses are recorded based on the changes in the fair values of the derivative instruments. Both the unrealized and realized gains and losses resulting from the contract settlement of derivatives are recorded in the loss on commodity derivatives line on the consolidated statements of operations. The Company’s valuation estimate takes into consideration the counterparties’ credit worthiness, the Company’s credit worthiness, and the time value of money. The consideration of the factors results in an estimated exit price for each derivative asset or liability under a market place participant’s view. Management believes that this approach provides a reasonable, non-biased, verifiable, and consistent methodology for valuing commodity derivative instruments (see Note 13 – Derivative Instruments and Price Risk Management).
	Warrant Liability
	From time to time the Company may have financial instruments such as warrants that may be classified as liabilities when either (a) the holders possess rights to net cash settlement, (b) physical or net equity settlement is not in the Company’s control, or (c) the instruments contain other provisions that causes the Company to conclude that they are not indexed to the Company’s equity. Such instruments are initially recorded at fair value and subsequently adjusted to fair value at the end of each reporting period through earnings.
	As a part of the Securities Purchase Agreement with affiliates of White Deer Energy L.P. (“White Deer Energy”) (see Note 6 – Preferred and Common Stock), the Company issued warrants that contain a put and other liability type provisions. Accordingly, these warrants are accounted for as a liability. This warrant liability is accounted for at fair value with changes in fair value reported in earnings.
New Accounting Pronouncements, Policy	'
	New Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date.  If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption.
Joint Ventures, Policy	'
	Joint Ventures
	The condensed consolidated financial statements as of September 30, 2013 and 2012 include the accounts of the Company and its proportionate share of the assets, liabilities, and results of operations of the joint ventures it is involved in.
Use of Estimates, Policy	'
	Use of Estimates
	The preparation of consolidated financial statements under GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to proved oil and natural gas reserve volumes, future development costs, estimates relating to certain oil and natural gas revenues and expenses, fair value of derivative instruments, fair value of warrant liability, valuation of share-based compensation and the valuation of deferred income taxes. Actual results may differ from those estimates.
Industry Segment and Geographic Information, Policy	'
	Industry Segment and Geographic Information
	The Company operates in one industry segment, which is the exploration, development and production of oil and natural gas with all of the Company’s operational activities being conducted in the U.S. The Company’s current operational activities and the Company’s consolidated revenues are generated from markets exclusively in the U.S. The Company has no long-lived assets located outside the U.S.
Principles of Consolidation, Policy	'
	Principles of Consolidation
	The accompanying condensed consolidated financial statements include the accounts of Emerald Oil, Inc. and its direct and indirect wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.

ACQUISITION_OF_BUSINESS_Tables

ACQUISITION OF BUSINESS (Tables)	9 Months Ended
	Sep. 30, 2013
Acquisition of Business [Abstract]	'
Schedule of Business Acquisition	'
	A summary of the acquisition is below:
		(in thousands)
	Proved Oil and Natural Gas Properties	$	6,839
	Unproved Oil and Natural Gas Properties		33,948
	Other Assets		111
	Debt Assumed		(20,303	)
	Net Assets Acquired		20,595
	Equity Issued to Emerald Oil & Gas NL		(13,381	)
	Gain on Acquisition		7,214
	Less: Acquisition Costs		(1,456	)
	Gain on Acquisition, net	$	5,758
Schedule of Business Acquisition, Pro Forma Results	'
	The following table reflects the unaudited pro forma results of operations as though the acquisition had occurred on January 1, 2011. The pro forma amounts are not necessarily indicative of the results that may be reported in the future:
		Three Months Ended			Nine Months Ended
		30-Sep-12			30-Sep-12
	Revenues	$	5,476,134		$	18,781,520
	Net Loss Available to Common Shareholders	$	(4,070,652	)	$	(13,503,967	)
	Net Loss Per Share – Basic and Diluted	$	(0.39	)	$	(1.34	)
	Weighted Average Shares Outstanding –		10,420,683			10,099,762
	Basic and Diluted

PREFERRED_AND_COMMON_STOCK_Tab

PREFERRED AND COMMON STOCK (Tables)	9 Months Ended
	Sep. 30, 2013
Preferred and Common Stock [Abstract]	'
Schedule of Components of Preferred Stock Transaction	'
	A summary of the preferred stock transaction components as of September 30, 2013 and the issuance date is provided below:
		September 30,			February 19, 2013
		2013			(issuance date)
	Series A Preferred Stock	$	16,875,000		$	41,369,000
	Series B Preferred Stock		5,000			5,000
	Warrant Liability		13,213,000			8,626,000
	Total	$	30,093,000		$	50,000,000
Schedule of Restricted Stock Units and Restricted Stock Shares Outstanding	'
	As of September 30, 2013, there were 2,281,096 unvested restricted stock units outstanding with a weighted average grant date fair value of $5.00 per share. A summary of the restricted stock units and restricted stock shares outstanding is as follows:
		Number of			Weighted
		Shares			Average Grant
					Date Fair Value
	Non-vested restricted stock and restricted stock units at January 1, 2013		1,847,701		$	4.31
	Granted		596,131			7.01
	Canceled		(70,642	)		4.19
	Vested		(92,094	)		5.39
	Non-vested restricted stock and restricted stock units at September 30, 2013		2,281,096		$	5

STOCK_OPTIONS_AND_WARRANTS_Tab

STOCK OPTIONS AND WARRANTS (Tables)	9 Months Ended
	Sep. 30, 2013
Stock Options and Warrants [Abstract]	'
Schedule of Stock Options Granted, Valuation Assumptions	'
	The following assumptions were used for the Black-Scholes model to value the options granted during the nine- month period ended September 30, 2013.
	Risk free rates		0.71% -2.12%
	Dividend yield		0%
	Expected volatility		73.1% - 79.5%
	Weighted average expected life		5.8 years
Schedule of Stock Options Outstanding Roll Forward	'
	A summary of the stock options outstanding as of January 1, 2013 and September 30, 2013 is as follows:
		Number of			Weighted
		Options			Average
					Exercise Price
	Balance outstanding at January 1, 2013		835,702		$	10.43
	Granted		403,001			7.17
	Canceled		(50,000	)		14.89
	Exercised		(75,000	)		4.43
	Balance outstanding at September 30, 2013		1,113,703		$	9.52
	Options exercisable at September 30, 2013		521,416		$	11.57
Schedule of Stock Options Outstanding	'
	At September 30, 2013, stock options outstanding were as follows:
		Options Outstanding							Options Exercisable
	Year of	Number of			Weighted		Weighted		Number of		Weighted		Weighted
	Grant	Options			Average		Average		Options		Average		Average
		Outstanding			Remaining		Exercise		Exercisable		Remaining		Exercise
					Contract		Price				Contract Life		Price
					Life (years)						(years)
	2013		403,001			7.73	$	7.17		—		—	$	—
	2012		574,999			3.24		8.43		385,713		2.72		8.5
	Prior		135,703			2.27		21.11		135,703		2.27		21.11
	Total		1,113,703			4.75	$	9.52		521,416		2.6	$	11.57
Schedule of Warrants Outstanding	'
	The table below reflects the status of warrants outstanding at September 30, 2013:
		Warrants			Exercise Price		Expiration Date
	1-Dec-09		37,216		$	6.86	1-Dec-19
	31-Dec-09		186,077		$	6.86	31-Dec-19
	8-Feb-11		892,857		$	49.7	8-Feb-16
	19-Feb-13		5,114,633		$	5.77	31-Dec-19
			6,230,783

ASSET_RETIREMENT_OBLIGATION_Ta

ASSET RETIREMENT OBLIGATION (Tables)	9 Months Ended
	Sep. 30, 2013
Asset Retirement Obligation [Abstract]	'
Schedule of Change in Asset Retirement Obligation	'
	The following table summarizes the Company’s asset retirement obligation transactions recorded in accordance with the provisions of ASC 410-20-25 for the nine-month period ended September 30, 2013 and the year ended December 31, 2012:
		30-Sep-13			31-Dec-12
	Beginning Asset Retirement Obligation	$	296,074		$	116,119
	Liabilities Incurred or Acquired		429,096			164,967
	Accretion of Discount on Asset Retirement Obligations		21,564			14,988
	Liabilities Associated with Properties Sold		(312,625	)		—
	Ending Asset Retirement Obligation	$	434,109		$	296,074

FAIR_VALUE_Tables

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value [Abstract]	'
Schedule of Fair Value of Financial Instruments Measured on Recurring Basis	'
	The following schedule summarizes the valuation of financial instruments measured at fair value on a recurring basis in the condensed consolidated balance sheet as of September 30, 2013:
		Fair Value Measurements at
		September 30, 2013 Using
		Quoted			Significant			Significant
		Prices In			Other			Unobservable
		Active			Observable			Inputs
		Markets for			Inputs			(Level 3)
		Identical			(Level 2)
		Assets
		(Level 1)
	Warrant Liability – Long Term Liability	$	—		$	—		$	(13,213,000	)
	Commodity Derivatives – Current Liability (oil swaps)					(1,431,091	)
	Commodity Derivatives – Long Term Asset (oil swaps)		—			25,017			—
	Total	$	—		$	(1,406,074	)	$	(13,213,000	)
	The following schedule summarizes the valuation of financial instruments measured at fair value on a recurring basis in the condensed consolidated balance sheet as of December 31, 2012:
		Fair Value Measurements at
		December 31, 2012 Using
		Quoted			Significant			Significant
		Prices In			Other			Unobservable
		Active			Observable			Inputs
		Markets for			Inputs			(Level 3)
		Identical			(Level 2)
		Assets
		(Level 1)
	Commodity Derivatives – Current Liability (oil swaps and collars)	$	—		$	(206,645	)	$	—
	Commodity Derivatives – Long Term Asset (oil swaps and collars)		—			25,397			—
	Total	$	—		$	(181,248	)	$	—
Schedule of Fair Value of Warrants Liability Measured on Recurring Basis, Unobservable Inputs	'
	A rollforward of Level 3 warrants liability measured at fair value using Level 3 on a recurring basis is as follows (in thousands):
	Balance, at December 31, 2012	$	—
	Purchases, issuances, and settlements		(8,626,000	)
	Change in Fair Value of Warrant Liability		(4,587,000	)
	Transfers		—
	Balance, at September 30, 2013	$	(13,213,000	)

DERIVATIVE_INSTRUMENTS_AND_PRI1

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT (Tables)	9 Months Ended
	Sep. 30, 2013
Derivative Instruments and Price Risk Management [Abstract]	'
Schedule of Open Commodity Swap Contracts	'
	The following table reflects open commodity swap contracts as of September 30, 2013, the associated volumes and the corresponding weighted average NYMEX reference price:
	Settlement Period	Oil (Bbls)				Fixed Price
	Oil Swaps
	October 1, 2013 – December 31, 2013		30,870			$	91
	October 1, 2013  – December 31, 2013		12,000				90.05
	October 1, 2013 – December 31, 2013		30,000				94.3
	2013 Total/Average		72,870			$	92.2
	January 1, 2014 – December 31, 2014		103,267			$	91
	January 1, 2014 – December 31, 2014		31,000				90.05
	January 1, 2014 – December 31, 2014		79,000				94.3
	2014 Total/Average		213,267			$	92.08
	January 1, 2015 – February 28, 2015		13,876			$	91
	January 1, 2015 – February 28, 2015		5,000				90.05
	January 1, 2015 – February 28, 2015		10,000				94.3
	2015 Total/Average		28,876			$	91.98
Fair Value By Balance Sheet Grouping	'
	At September 30, 2013, the Company had derivative financial instruments recorded on the condensed consolidated balance sheet as set forth below:
	Type of Contract	Balance Sheet Location
	Derivative Assets (Liabilities):
	Swap Contracts	Current liabilities		$	(1,431,091	)
	Swap Contracts	Non-current assets			25,017
	Warrant Liability	Non-current liabilities			(13,213,000	)
	Total Derivative Liabilities			$	(14,619,074	)
Schedule of Derivative Assets at Fair Value	'
	For the three and nine-month periods ended September 30, 2013, the Company recorded the change in values for the derivative instruments as set forth below:
	Type of Contract	Statement of Operation		Three Months				Nine Months
		Location		Ended				Ended
				September 30,				September 30,
				2013				2013
	Unrealized Losses:
	Swap Commodity Contracts	Loss on Commodity Derivatives		$	(1,455,405	)		$	(1,224,891	)
	Warrant Liability	Warrant Revaluation Expense			(506,000	)			(4,587,000	)
	Total Unrealized Losses, Net			$	(1,961,405	)		$	(5,811,891	)
	Realized Losses:
	Swap Commodity Contracts	Loss on Commodity Derivatives		$	(1,264,755	)		$	(1,597,536	)
	Total Realized Losses				(1,264,755	)			(1,597,536	)
	For the three and nine-month periods ended September 30, 2012, the Company recorded the change in values for the derivative instruments as set forth below:
	Type of Contract	Statement of Operation		Three Months				Nine Months
		Location		Ended				Ended
				September 30,				September 30,
				2012				2012
	Unrealized Losses:
	Costless Commodity Collars	Loss on Commodity Derivatives		$	(1,514,729	)		$	(236,646	)
	Total Unrealized Losses			$	(1,514,729	)		$	(236,646	)
	Realized Losses:
	Costless Commodity Collars	Loss on Commodity Derivatives		$	(120,706	)		$	(59,681	)
	Total Realized Losses				(120,706	)			(59,681	)

ORGANIZATION_AND_NATURE_OF_BUS1

ORGANIZATION AND NATURE OF BUSINESS (Narrative) (Details) (USD $)	Sep. 30, 2013
Organization and Nature of Business [Abstract]	'
Entity, number of employees (in Employees)	$23

BASIS_OF_PRESENTATION_AND_SIGN2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Jul. 10, 2013	Oct. 22, 2012	27-May-11
Class Of Stock [Line Items]	'	'	'	'	'	'	'	'
Cash FDIC insured amount	$250,000	'	$250,000	'	'	'	'	'
Restricted cash in current and long-term assets	21,000,000	'	21,000,000	'	'	'	'	'
Restricted cash held in escrow to meet post-closing requirements on the sale of oil and gas properties	11,000,000	'	11,000,000	'	'	'	'	'
Restricted cash related to drilling commitment on oil and gas leases acquired	10,000,000	'	10,000,000	'	'	'	'	'
Internal Salaries Capitalized	905,631	151,719	2,124,585	624,818	'	'	'	'
Stock-based Compensation included in internal salaries capitalized	314,061	97,317	624,325	493,085	'	'	'	'
Expiring leases, costs reclassified to full cost pool	'	'	1,630,740	'	3,625,209	'	'	'
Impairment of Oil and Natural Gas Properties	'	'	'	10,191,234	'	'	'	'
Depreciation expense	$40,631	$12,345	$94,665	$34,559	'	'	'	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'	'	'	'	'	'	'	'
Stock-based compensation, equity incentive plan, shares authorized for issuance (in Shares)	'	'	'	'	'	9,800,000	3,500,000	714,286
Stock-based compensation, equity incentive plan, shares available for issuance (in Shares)	5,091,173	'	5,091,173	'	'	'	'	'
Stock options issued to officers, directors and employees	1,006,573	'	1,006,573	'	'	'	'	'
Common stock shares and restricted stock units issued to officers, directors and employees	3,702,254	'	3,702,254	'	'	'	'	'
Stock Options Presently Exercisable [Member]	'	'	'	'	'	'	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'	'	'	'	'
Anti-dilutive securities excluded from computation of earnings per share (in Shares)	'	'	521,416	'	'	'	'	'
Stock Options Not Presently Exercisable [Member]	'	'	'	'	'	'	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'	'	'	'	'
Anti-dilutive securities excluded from computation of earnings per share (in Shares)	'	'	592,287	'	'	'	'	'
Restricted Stock Units [Member]	'	'	'	'	'	'	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'	'	'	'	'
Anti-dilutive securities excluded from computation of earnings per share (in Shares)	'	'	2,281,096	'	'	'	'	'
Warrants - Group 1 [Member]	'	'	'	'	'	'	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'	'	'	'	'
Anti-dilutive securities excluded from computation of earnings per share (in Shares)	'	'	5,114,633	'	'	'	'	'
Weighted-average exercise price of warrants outstanding (in Dollars per Unit)	$5.77	'	$5.77	'	'	'	'	'
Warrants - Group 2 [Member]	'	'	'	'	'	'	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'	'	'	'	'
Anti-dilutive securities excluded from computation of earnings per share (in Shares)	'	'	223,293	'	'	'	'	'
Weighted-average exercise price of warrants outstanding (in Dollars per Unit)	$6.86	'	$6.86	'	'	'	'	'
Warrants - Group 3 [Member]	'	'	'	'	'	'	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'	'	'	'	'
Anti-dilutive securities excluded from computation of earnings per share (in Shares)	'	'	892,858	'	'	'	'	'
Weighted-average exercise price of warrants outstanding (in Dollars per Unit)	$49.70	'	$49.70	'	'	'	'	'
Common Stock [Member]	'	'	'	'	'	'	'	'
Class Of Stock [Line Items]	'	'	'	'	'	'	'	'
Reverse stock split, reduction in shares (in Shares)	'	'	140,339,000	'	'	'	'	'
Warrant [Member]	'	'	'	'	'	'	'	'
Class Of Stock [Line Items]	'	'	'	'	'	'	'	'
Reverse stock split, reduction in shares (in Shares)	'	'	6,700,000	'	'	'	'	'
Stock Option [Member]	'	'	'	'	'	'	'	'
Class Of Stock [Line Items]	'	'	'	'	'	'	'	'
Reverse stock split, reduction in shares (in Shares)	'	'	4,100,000	'	'	'	'	'

ACQUISITION_OF_BUSINESS_Narrat

ACQUISITION OF BUSINESS (Narrative) (Details) (USD $)	9 Months Ended						9 Months Ended		3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2013
			Emerald Oil [Member]	Hartz Energy Capital [Member]	Dunn County [Member]	Sandwash Basin Niobrara [Member]	Sandwash Basin Niobrara [Member]	Williston Basin [Member]	Emerald Oil North America [Member]	Emerald Oil North America [Member]
							Hartz Energy Capital [Member]	Hartz Energy Capital [Member]
Acquisition of Business [Abstract]	'	'	'	'	'	'	'	'	'	'
Date company entered into Securities Purchase Agreement with Emerald Oil & Gas NL and Target (Date)	9-Jul-12	'	'	'	'	'	'	'	'	'
Percentage of Emerald common stock equal to amount of stock purchased (in Percent)	19.90%	'	'	'	'	'	'	'	'	'
Number of shares issued to acquire Emerald Oil North America (in Shares)	1,660,000	'	'	'	'	'	'	'	'	'
Portion of shares issued to acquire Target which are held in escrow (in Shares)	20,300,000	'	'	'	'	'	'	'	'	'
Business Acquisition [Line Items]	'	'	'	'	'	'	'	'	'	'
Acres acquired in purchase (in Acres)	'	'	'	'	10,600	45,000	'	'	'	'
Number of directors resigned in connection with acquisition of Emerald Oil North America (in Directors)	'	5	'	'	'	'	'	'	'	'
Number of management members which entered into employment agreements (in Managers)	'	6	'	'	'	'	'	'	'	'
Debt obligations assumed	'	$20,300,000	$2,500,000	$17,700,000	'	'	'	'	'	'
Royalty interest percentage serving as interest on assumed debt agreement (in Percent)	'	'	'	'	'	'	0.90%	2.15%	'	'
Number of guaranteed net mineral acres underlying overriding royalty interest serving as interest on assumed debt (in Acres)	'	'	'	'	'	'	382.5	215	'	'
Period of royalty interest serving as interest on assumed debt (in Duration)	'	'	'	'	'	'	'5 years	'5 years	'	'
Revenues recognized related to Emerald Oil North America	'	'	'	'	'	'	'	'	'	'
Expenses recognized related to Emerald Oil North America	'	'	'	'	'	'	'	'	3,337	40,948
Net income recognized related to Emerald Oil North America	'	'	'	'	'	'	'	'	$65,593	$241,927

ACQUISITION_OF_BUSINESS_Schedu

ACQUISITION OF BUSINESS (Schedule of Business Acquisition) (Details) (USD $)	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2013
		Emerald Oil North America [Member]
Business Acquisition [Line Items]	'	'
Proved Oil and Natural Gas Properties	'	$6,839,000
Unproved Oil and Natural Gas Properties	'	33,948,000
Other Assets	'	111,000
Debt Assumed	'	-20,303,000
Net Assets Acquired	'	20,595,000
Equity Issued to Emerald Oil & Gas NL	'	-13,381,000
Gain on Acquisition	7,213,835	'
Less: Acquisition Costs	'	-1,456,000
Gain on Acquisition, net	'	$5,758,000

ACQUISITION_OF_BUSINESS_Schedu1

ACQUISITION OF BUSINESS (Schedule of Business Acquisition, Pro Forma Results) (Details) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2012
Business Acquisition [Line Items]	'	'
Pro forma revenues, acquisition	$9,062,825	$13,305,386
Pro forma net loss available to common shareholders, acquisition	-7,596,968	-9,444,946
Pro forma net loss per share, basic and diluted (in Dollars per Share)	-0.92	-1.14
Pro forma weighted average shares outstanding, basic and diluted (in Shares)	8,284,940	8,275,364
Emerald Oil North America [Member]	'	'
Business Acquisition [Line Items]	'	'
Pro forma revenues, acquisition	5,476,134	18,781,520
Pro forma net loss available to common shareholders, acquisition	($4,070,652)	($13,503,967)
Pro forma net loss per share, basic and diluted (in Dollars per Share)	-0.39	-1.34
Pro forma weighted average shares outstanding, basic and diluted (in Shares)	10,420,683	10,099,762

OIL_AND_NATURAL_GAS_PROPERTIES1

OIL AND NATURAL GAS PROPERTIES (Narrative) (Details) (USD $)

Sep. 30, 2013

Aug. 30, 2013

Aug. 02, 2013

Apr. 29, 2013

Feb. 04, 2013

Jan. 09, 2013

Sep. 17, 2013

Sep. 21, 2013

Sep. 19, 2013

Jan. 09, 2013

Sep. 06, 2013

Apr. 17, 2013

McKenzie County [Member]

McKenzie County [Member]

McKenzie County [Member]

McKenzie County [Member]

McKenzie County [Member]

McKenzie Billings Stark Counties [Member]

Williams County [Member]

Williams County [Member]

Sand Wash Basin [Member]

Williston Basin [Member]

Williston Basin [Member]

Oil and Gas in Process Activities [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Purchase price of acquired oil and natural gas property leases

'

$3,600,000

$10,400,000

$6,500,000

$1,900,000

$4,700,000

$20,200,000

$1,300,000

$3,200,000

'

'

'

Number of shares issued as consideration for acquired oil and natural gas property leases (in Shares)

'

'

'

'

313,700

851,315

'

'

'

'

'

'

Per share value of shares issued as consideration for acquired oil and natural gas property leases based on a five day volume weighted averagfe price of the Company's Common Stock prior to closing (in Dollars per Share)

'

'

'

'

$6.06

$5.50

'

'

'

'

'

'

Number of acres acquired ((in Acres)

'

3,600

3,500

5,874

'

'

30,672

313

2,866

'

'

'

Approximate price per acre (In Dollars per Acre)

'

$1,000

$3,000

$1,100

'

'

$660

$4,100

$1,100

'

'

'

Wells committed to be drilled by September 17, 2015 (In Wells)

'

'

'

'

'

'

5

'

'

'

'

'

Value of funds placed in escrow for commitment to drill wells

'

'

'

'

'

'

10,000,000

'

'

'

'

'

Escrowed funds refundable for each well drilled under drilling commitment

'

'

'

'

'

'

2,000,000

'

'

'

'

'

Value of escrowed funds under drilling agreement classified as a current asset

'

'

'

'

'

'

4,000,000

'

'

'

'

'

Value of escrowed funds under drilling agreement classified as a long-term asset

'

'

'

'

'

'

6,000,000

'

'

'

'

'

Deposit with third party broker to be used for lease acquisitions

2,500,000

'

'

'

'

'

'

'

'

'

'

'

Working interest percentage sold (in Percent)

'

'

'

'

'

'

'

'

'

0.45

'

'

Number of net acres sold (in Acres)

'

'

'

'

'

'

'

'

'

31,000

413

970

Sale price of net acres sold

'

'

'

'

'

'

'

'

'

10,100,000

5,200,000

7,100,000

Number of net acres and associated oil and natural gas production sold (in Acres)

'

'

'

'

'

'

'

'

'

'

26,579

'

Sale price of net acres and associated oil and natural gas production sold

'

'

'

'

'

'

'

'

'

'

111,090,000

'

Amount of sales price to remain in escrow until December 31, 2013 due diligence procedures are finalized

'

'

'

'

'

'

'

'

'

'

11,000,000

'

Disposition of asset retirement obligations

'

'

'

'

'

'

'

'

'

'

309,000

'

Sales expenses

'

'

'

'

'

'

'

'

'

'

1,168,000

'

Sales price, net

'

'

'

'

'

'

'

'

'

'

110,251,000

'

Accumulated depletion

'

'

'

'

'

'

'

'

'

'

137,279,000

'

Proved oil and gas properties

'

'

'

'

'

'

'

'

'

'

-49,508,000

'

Unproved oil and natural gas properties

'

'

'

'

'

'

'

'

'

'

13,568,000

'

Gain on sale

'

'

'

'

'

'

'

'

'

'

$8,892,000

'

RELATED_PARTY_TRANSACTIONS_Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Steven Lips Comb [Member]	'
Related Party Transaction [Line Items]	'
Related party transaction, value of promissory notes subscribed	$500,000
Michael Reger [Member]	'
Related Party Transaction [Line Items]	'
Related party transaction, value of promissory notes subscribed	1,000,000
Affiliates of White Deer Energy [Member]	'
Related Party Transaction [Line Items]	'
Related party transaction, Series A Preferred stock issued (in Shares)	500,000
Related party transaction, Series B Preferred stock issued (in Shares)	5,114,633
Related party transaction, common stock purchased (in Shares)	5,114,633
Related party transaction, common stock purchased (in Dollars per Share)	$5.77
Related party transaction, common stock purchased, aggregate value	50,000,000
White Deer Energy [Member]	'
Related Party Transaction [Line Items]	'
Related party transaction, common stock purchased, aggregate value	$16,200,000
Related party transaction, shares of common stock issued (in Shares)	2,785,600

PREFERRED_AND_COMMON_STOCK_Nar

PREFERRED AND COMMON STOCK (Narrative) (Details) (USD $)

0 Months Ended

1 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

Feb. 04, 2013

Jan. 09, 2013

Feb. 04, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 15, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Feb. 19, 2013

Feb. 19, 2013

Sep. 19, 2013

Aug. 30, 2013

Jun. 20, 2013

Feb. 19, 2013

Sep. 30, 2013

Sep. 30, 2013

Feb. 19, 2013

Feb. 19, 2013

Feb. 19, 2013

Feb. 19, 2013

Feb. 19, 2013

Sep. 30, 2013

Jun. 04, 2013

22-May-13

Restricted Stock and Restricted Stock Units [Member]

Restricted Stock and Restricted Stock Units [Member]

Granted During 2013 [Member]

Granted During 2013 [Member]

Granted Prior to 2013 [Member]

Granted Prior to 2013 [Member]

Series A Preferred Series B Preferred and Warrant to Purchase Common Stock [Member]

Warrants [Member]

Series A Preferred Stock [Member]

Series A Preferred Stock [Member]

Series A Preferred Stock [Member]

Series A Preferred Stock [Member]

Series A Preferred Stock [Member]

Series A Preferred Stock [Member]

Series A Preferred Stock [Member]

Series A Preferred Stock [Member]

Series A Preferred Stock [Member]

Series A Preferred Stock [Member]

Series B Preferred Stock [Member]

Series B Preferred Stock [Member]

Common Stock [Member]

Common Stock [Member]

Restricted Stock and Restricted Stock Units [Member]

Restricted Stock and Restricted Stock Units [Member]

Restricted Stock [Member]

Restricted Stock [Member]

On Or Prior To February 19, 2015 [Member]

February 20, 2015 Through February 19, 2016 [Member]

February 20, 2016 Through February 19, 2017 [Member]

February 20, 2017 and Thereafter [Member]

Schedule Of Capitalization Equity [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock - Shares Authorized (in Shares)

'

'

'

20,000,000

'

'

20,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from issuance of equity in private placements and public offerings

'

'

'

'

'

'

'

'

'

'

'

'

'

$50,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares of stock issued in private placements and public offerings (in Shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000

'

500,000

'

'

'

'

5,114,633

5,114,633

2,785,600

12,000,000

Sale of stock transaction description (in String)

'

'

'

'

'

'

'

'

'

'

'

'

'

'Private Offering with affiliates of White Deer Energy

'

'

'

'

'

'

'

'

'

'

'

'

'

'Private Placement

'Public offering

Preferred Stock - Par Value (in Dollars per Share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$0.00

'

'

'

'

'

'

$0.00

'

'

'

Price per share of stock issued in private placement or public offering (in Dollars per Share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$5.93

$6.10

Warrants to purchase common stock issued in private placement (in Shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,114,633

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Par value of common stock per share issuable with warrants (in Dollars per Share)

'

'

'

$0.00

'

'

$0.00

'

'

'

'

'

'

'

$0.00

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Exercise price of warrants issued in private placement (in Dollars per Unit)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$5.77

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cumulatiive dividend rate of preferred stock issued in private placement payable on the last day of each calendar quarter (in Percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10.00%

'

'

'

'

'

'

'

'

'

'

Liquidating distribution due in the event of Company liquidates, dissolves or winds up its affairs (in Dollars per Share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$112.50

$110

$105

$100

$0.00

'

'

'

Company option to redeem shares, minimum redemption amount (in Integer)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$50,000

'

'

'

Maximum amount of payment or liability company may make or incur without investor approval

'

'

'

'

'

'

'

'

'

'

'

'

'

1,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares of stock redeemed (in Shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

200,000

150,000

'

'

350,000

'

'

'

'

'

'

'

'

Payment for redemption of stock

'

'

'

35,000,000

'

'

'

'

'

'

'

'

'

'

'

'

22,828,767

17,203,767

'

'

'

'

'

'

'

'

'

'

'

Portion of payment for redemption of stock representing redemption premium

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,500,000

1,875,000

'

'

'

'

'

'

'

'

'

'

'

Portion of payment for redemption of stock representing accrued dividends on redeemed shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

328,767

328,767

'

'

'

'

'

'

'

'

'

'

'

Shares of stock committed to be redeemed (in Shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

150,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Payment committed for redemption of stock

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

16,932,524

'

'

'

'

'

'

'

'

'

'

'

'

'

Portion of payment committed for redemption of stock representing redemption premium

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,875,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Portion of payment ciommitted for redemption of stock representing accrued dividends on redeemed shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

57,534

'

'

'

'

'

'

'

'

'

'

'

'

'

Committed redemption and dividend recorded in current liabilities at its liquidation preference

'

'

'

'

'

16,875,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends paid

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

706,849

2,524,658

'

'

'

'

'

'

'

'

Investor option, under change of control or liquidating event, to receive cash payment in exchange for all then held stock for cash payment necessary for investor to achieve a minimum IRR, minimum IRR specified (in Percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

25.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair value of stock recognized, net of offering costs

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

38,552,994

'

'

'

'

'

'

5,000

'

'

'

Offering costs on transaction

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,816,000

'

'

'

'

'

'

'

'

'

'

Warrant liability recognized

'

'

'

'

'

'

'

'

'

'

'

'

'

8,626,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Non-option instruments granted during the period (in Shares)

'

'

'

0

'

'

'

'

'

997,042

997,042

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-Based Compensation Expense

'

'

'

6,538,319

2,770,849

'

'

'

'

2,856,568

2,856,568

931,824

356,947

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based compensation capitalized to oil and natural gas properties

'

'

'

'

'

'

'

285,148

374,250

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized share-based compensation cost

'

'

'

870,845,000

'

'

'

8,142,929

8,142,929

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock issued related to acreage acquisitions (in Shares)

313,700

851,315

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of acreage acquisitions for which common stock was issued (In Integer)

'

'

$2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payments of stock issuance costs

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

200,000

4,300,000

Proceeds from stock issued in privated placement or public offering, net of transaction costs

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

16,200,000

69,300,000

Over-allotment exercised for sale in public offering, shares (in Shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,800,000

Proceeds from sale of common stock over allotment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$10,500,000

PREFERRED_AND_COMMON_STOCK_Sch

PREFERRED AND COMMON STOCK (Schedule of Components of Preferred Stock Transaction) (Details) (USD $)	Sep. 30, 2013	Feb. 19, 2013
Total	$30,093,000	$50,000,000
Series A Perpetual Preferred Stock [Member]	'	'
Total	16,875,000	41,369,000
Series B Voting Preferred Stock [Member]	'	'
Total	5,000	5,000
Warrant Liability [Member]	'	'
Total	$13,213,000	$8,626,000

PREFERRED_AND_COMMON_STOCK_Sch1

PREFERRED AND COMMON STOCK (Schedule of Restricted Stock Units and Restricted Stock Shares Outstanding) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Restricted stock units and restricted stock shares, Granted (in Shares)	0
Restricted stock units and restricted stock shares, Canceled (in Shares)	-17,117
Non-vested restricted stock units, Weighted Average Grant Date Fair Value, Granted (in Dollars per Share)	$0
Non-vested restricted stock units, Weighted Average Grant Date Fair Value, Canceled (in Dollars per Share)	$4.67
Non-vested restricted stock units, Weighted Average Grant Date Fair Value, Vested (in Dollars per Share)	$14.63
Restricted Stock Units and Restricted Stock Shares	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Non-vested restricted stock and restricted stock units, at beginning of period (in Shares)	1,847,701
Restricted stock units and restricted stock shares, Granted (in Shares)	596,131
Restricted stock units and restricted stock shares, Canceled (in Shares)	-70,642
Restricted stock units and restricted stock shares, Vested (in Shares)	-92,094
Non-vested restricted stock and restricted stock units, at end of period (in Shares)	2,281,096
Non-vested restricted stock units, Weighted Average Grant Date Fair Value, at beginning of period (in Dollars per Share)	$4.31
Non-vested restricted stock units, Weighted Average Grant Date Fair Value, Granted (in Dollars per Share)	$7.01
Non-vested restricted stock units, Weighted Average Grant Date Fair Value, Canceled (in Dollars per Share)	$4.19
Non-vested restricted stock units, Weighted Average Grant Date Fair Value, Vested (in Dollars per Share)	$5.39
Non-vested restricted stock units, Weighted Average Grant Date Fair Value, at end of period (in Dollars per Share)	$5

STOCK_OPTIONS_AND_WARRANTS_Nar

STOCK OPTIONS AND WARRANTS (Narrative) (Details) (USD $)

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Jul. 31, 2013

Apr. 18, 2013

Mar. 22, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Stock Options Granted [Member]

Stock Options Granted [Member]

Stock Options Granted [Member]

Stock Options Granted [Member]

Options Vesting on March 22, 2014 [Member]

Options Vesting on March 22, 2015 [Member]

Options Vesting on March 22, 2016 [Member]

Options Vesting in November 2013 [Member]

Stock Option [Member]

Stock Option [Member]

Stock Option [Member]

Stock Option [Member]

Stock Options and Warrants [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares of common stock purchasable with stock options granted (in Shares)

'

'

315,334

69,667

18,000

'

'

'

'

'

'

'

'

Exercise price of shares of common stock purchasable with stock options granted (in Dollars per Share)

'

'

$7.37

$6.41

$6.59

'

'

'

'

'

'

'

'

Vesting period of options issued for common stock purchase (in Duration)

'36 months

'

'

'

'

'

'

'

'

'

'

'

'

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of options vesting each period (in Shares)

'

'

'

'

'

'

'

'

'

6,000

6,000

6,000

25,000

Share based compensation expense, options or warrants

$6,538,319

$2,770,849

'

'

'

'

'

'

'

'

'

'

'

Total unrecognized compensation costs related to nonvested share based compensation

870,845,000

'

'

'

'

'

'

'

'

'

'

'

'

Future period compensation expense in future periods relating to options granted

'

'

'

'

'

1,820,000

'

1,820,000

'

'

'

'

'

Period for recognition of unrecognized compensation costs related to nonvested share based compensation (Duration)

'

'

'

'

'

'

'

'1 year 6 months

'

'

'

'

'

Tax on share based compensation expense, options or warrants

'

'

'

'

'

$0

$0

$0

$0

'

'

'

'

Warrants expired or forfeited (in Shares)

0

'

'

'

'

'

'

'

'

'

'

'

'

STOCK_OPTIONS_AND_WARRANTS_Sch

STOCK OPTIONS AND WARRANTS (Schedule of Stock Options Granted, Valuation Assumptions) (Details)	9 Months Ended
	Sep. 30, 2013
Stock Options and Warrants [Abstract]	'
Risk free rates, min (in Percent)	0.71%
Risk free rates, max (in Percent)	2.12%
Dividend yield (in Percent)	0.00%
Expected volatility, min (in Percent)	73.10%
Expected volatility, max (in Percent)	79.50%
Option or warrant valuation assumption, weighted average expected life (Duration)	'5 years 9 months 18 days

STOCK_OPTIONS_AND_WARRANTS_Sch1

STOCK OPTIONS AND WARRANTS (Schedule of Stock Options Outstanding Roll Forward) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]	'
Stock options outstanding at end of period (in Shares)	1,113,703
Stock options exercisable at end of period (in Shares)	521,416
Stock options outstanding weighted average exercise price at end of period (in Dollars per Share)	$9.52
Stock options exercisable, weighted average exercise price at end of period (in Dollars per Share)	$11.57
Stock Option [Member]	'
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]	'
Stock options outstanding at beginning of period (in Shares)	835,702
Stock options granted (in Shares)	403,001
Stock options canceled (in Shares)	-50,000
Stock options exercised (in Shares)	-75,000
Stock options outstanding at end of period (in Shares)	1,113,703
Stock options exercisable at end of period (in Shares)	521,416
Stock options outstanding weighted average exercise price at beginning of period (in Dollars per Share)	$10.43
Stock options granted weighted average exercise price (in Dollars per Share)	$7.17
Stock options canceled weighted average exercise price (in Dollars per Share)	$14.89
Stock options exercised weighted average exercise price (in Dollars per Share)	$4.43
Stock options outstanding weighted average exercise price at end of period (in Dollars per Share)	$9.52
Stock options exercisable, weighted average exercise price at end of period (in Dollars per Share)	$11.57

STOCK_OPTIONS_AND_WARRANTS_Sch2

STOCK OPTIONS AND WARRANTS (Schedule of Stock Options Outstanding) (Details) (USD $)	9 Months Ended			9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
		Stock Option [Member]	Stock Option [Member]	Year of Grant 2013 [Member]	Year of Grant 2012 [Member]	Year of Grant Prior to 2012 [Member]
				Stock Option [Member]	Stock Option [Member]	Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'	'	'	'	'	'
Number of options outstanding (in Shares)	1,113,703	1,113,703	835,702	403,001	574,999	135,703
Stock options outstanding, weighted average remaining contract life (years) (in Duration)	'4 years 9 months	'	'	'7 years 8 months 23 days	'3 years 2 months 27 days	'2 years 3 months 7 days
Stock options outstanding weighted average exercise price (in Dollars per Share)	$9.52	$9.52	$10.43	$7.17	$8.43	$21.11
Number of options exercisable (in Shares)	521,416	521,416	'	'	385,713	135,703
Stock options exercisable, weighted average remaining contract life (years) (in Duration)	'2 years 7 months 6 days	'	'	'	'2 years 8 months 19 days	'2 years 3 months 7 days
Stock options exercisable, weighted average exercise price (in Dollars per Share)	$11.57	$11.57	'	'	$8.50	$21.11

STOCK_OPTIONS_AND_WARRANTS_Sch3

STOCK OPTIONS AND WARRANTS (Schedule of Warrants Outstanding) (Details) (Warrant [Member], USD $)	Sep. 30, 2013
Class of Warrant or Right [Line Items]	'
Warrants outstanding (in Shares)	6,230,783
Issued December 1, 2009 [Member]	'
Class of Warrant or Right [Line Items]	'
Warrants outstanding (in Shares)	37,216
Weighted-average exercise price of warrants outstanding (in Dollars per Unit)	6.86
Issued December 31, 2009 [Member]	'
Class of Warrant or Right [Line Items]	'
Warrants outstanding (in Shares)	186,077
Weighted-average exercise price of warrants outstanding (in Dollars per Unit)	6.86
Issued February 8, 2011 [Member]	'
Class of Warrant or Right [Line Items]	'
Warrants outstanding (in Shares)	892,857
Weighted-average exercise price of warrants outstanding (in Dollars per Unit)	49.7
Issued February 19, 2013 [Member]	'
Class of Warrant or Right [Line Items]	'
Warrants outstanding (in Shares)	5,114,633
Weighted-average exercise price of warrants outstanding (in Dollars per Unit)	5.77

REVOLVING_CREDIT_FACILITY_Narr

REVOLVING CREDIT FACILITY (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Macquerie Facility [Member]	'	'
Line Of Credit Facility [Line Items]	'	'
Date credit facility was entered into (in Date)	10-Feb-12	'
Maximum amount available under credit facility	$150,000,000	'
Initial borrowing base under credit facility	15,000,000	'
Remaining amount available under credit facility	20,000	'
Macquarie Facility Development Tranche B [Member]	'	'
Line Of Credit Facility [Line Items]	'	'
Reference rate spread (in Percent)	9.00%	'
Initial borrowing base under credit facility	50,000,000	'
Third Tranche [Member]	'	'
Line Of Credit Facility [Line Items]	'	'
Maximum amount available under credit facility	20,000,000	'
Initial borrowing base under credit facility	15,000,000	'
Annual interest rate spread over LIBOR (in Percent)	9.00%	'
Wells Fargo Credit Agreement [Member]	'	'
Line Of Credit Facility [Line Items]	'	'
Date credit facility was entered into (in Date)	20-Nov-12	'
Maximum amount available under credit facility	400,000,000	'
Facility covenant, minimum current ratio (in Ratio)	1	'
Facility covenant, maximum debt coverage ratio (in Ratio)	3.5	'
Facility covenant, maximum interest coverage ratio (in Ratio)	3	'
Initial borrowing base under credit facility	27,500,000	'
Interest rate per annum (in Percent)	0.38%	'
Remaining amount available under credit facility	75,000,000	'
Credit facility outstanding balance	0	23,500,000
Wells Fargo Credit Agreement [Member] | Minimum [Member]	'	'
Line Of Credit Facility [Line Items]	'	'
Annual interest rate based on LIBOR base rate plus spread (in Percent)	0.75%	'
Annual interest rate spread over LIBOR (in Percent)	1.75%	'
Commitment fee percentage (in Percent)	0.38%	'
Wells Fargo Credit Agreement [Member] | Maximum [Member]	'	'
Line Of Credit Facility [Line Items]	'	'
Annual interest rate based on LIBOR base rate plus spread (in Percent)	1.75%	'
Annual interest rate spread over LIBOR (in Percent)	2.75%	'
Commitment fee percentage (in Percent)	0.50%	'
Wells Fargo Credit Agreement Letters of Credit [Member]	'	'
Line Of Credit Facility [Line Items]	'	'
Initial borrowing base under credit facility	5,000,000	'
Fronting fee to be paid if this value exceeds point one two five percent of the face amount of the letter of credit to be issued	500	'
Fronting fee to be paid if this value times the Letter of credit face amount exceeds five hundred dollars (in Percent)	0.13%	'
Remaining amount available under credit facility	$27,500,000	$4,000,000
Wells Fargo Credit Agreement Letters of Credit [Member] | Minimum [Member]	'	'
Line Of Credit Facility [Line Items]	'	'
Interest rate per annum (in Percent)	1.75%	'
Wells Fargo Credit Agreement Letters of Credit [Member] | Maximum [Member]	'	'
Line Of Credit Facility [Line Items]	'	'
Interest rate per annum (in Percent)	2.75%	'

SENIOR_SECURED_PROMISSORY_NOTE1

SENIOR SECURED PROMISSORY NOTES (Narrative) (Details) (Senior Secured Promissory Notes [Member], USD $)	9 Months Ended
	Sep. 30, 2013
Senior Secured Promissory Notes [Member]	'
Debt Instrument [Line Items]	'
Senior secured promissory notes issuance date (Date)	30-Sep-10
Senior secured promissory notes, amount issued	$15,000,000

ASSET_RETIREMENT_OBLIGATION_Na

ASSET RETIREMENT OBLIGATION (Narrative) (Details)	9 Months Ended
	Sep. 30, 2013
Asset Retirement Obligation [Abstract]	'
Significant input to assumption, asset retirement obligation valuation, future inflation factor (in Percent)	2.50%
Significant input to assumption, asset retirement obligation valuation, interest rate credit-adjusted risk-free (in Percent)	7.00%

ASSET_RETIREMENT_OBLIGATION_Sc

ASSET RETIREMENT OBLIGATION (Schedule of Change in Asset Retirement Obligation) (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Asset Retirement Obligation [Abstract]	'	'	'	'	'
Beginning Asset Retirement Obligation	'	'	$296,074	$116,119	$116,119
Liabilities Incurred or Acquired	'	'	429,096	'	164,967
Accretion of Discount on Asset Retirement Obligations	7,502	4,037	21,564	10,027	14,988
Liabilities Associated with Properties Sold	'	'	-312,625	'	0
Ending Asset Retirement Obligation	$434,109	'	$434,109	'	$296,074

FAIR_VALUE_Narrative_Details

FAIR VALUE (Narrative) (Details) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013
Fair Value [Abstract]	'	'
Warrant Revaluation Expense	($506,000)	($4,587,000)
Series A Preferred Stock, carrying value	$16,875,000	$16,875,000

FAIR_VALUE_Schedule_of_Fair_Va

FAIR VALUE (Schedule of Fair Value of Financial Instruments Measured on Recurring Basis) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Commodity Derivatives - Current Liability (oil swaps and collars)	($1,431,091)	($206,645)
Commodity Derivatives - Long Term Asset (oil swaps and collars)	25,017	25,397
Total commodity derivatives	-1,406,074	-181,248
Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Warrant Liability - Long Term Liability	-13,213,000	'
Total commodity derivatives	($13,213,000)	'

FAIR_VALUE_Schedule_of_Fair_Va1

FAIR VALUE (Schedule of Fair Value of Warrants Liability Measured on Recurring Basis, Unobservable Inputs) (Details) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013
Rollforward of Level 3 warrants liability measured at fair value using level 3 on a recurring basis	'	'
Change in Fair Value of Warrant Liability	($642,000)	($4,587,000)
Warrants liability, balance at end of period	($13,213,000)	($13,213,000)

DERIVATIVE_INSTRUMENTS_AND_PRI2

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT (Narrative) (Details) (USD $)	0 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2013	Feb. 19, 2013	Sep. 30, 2013	Dec. 31, 2012
Derivative Instruments and Price Risk Management [Abstract]	'	'	'	'
Warrants issued, price per warrant (in Dollars per Unit)	'	1.69	6.86	'
Expected volatility rate (in Percent)	40.00%	40.00%	40.00%	40.00%
Risk-free interest rate (in Percent)	1.90%	1.38%	2.00%	1.38%
Expected term (in Duration)	'1692 days	'1798 days	'1626 days	'1798 days
Exercise price of warrants (in Dollars per Unit)	'	$5.77	$5.77	$1.69
Fair value of warrants	'	'	($13,213,000)	'

DERIVATIVE_INSTRUMENTS_AND_PRI3

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT (Schedule of Open Commodity Swap Contracts) (Details) (Oil [Member], Swap [Member])	9 Months Ended
	Sep. 30, 2013
	bbl
October 1, 2013 - December 31, 2013 [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	30,870
Fixed Price (Dollars per Unit)	91
October 1, 2013 - December 31, 2013 [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	12,000
Fixed Price (Dollars per Unit)	90.05
October 1, 2013 - December 31, 2013 [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	30,000
Fixed Price (Dollars per Unit)	94.3
2013 Total/Average [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	72,870
Fixed Price (Dollars per Unit)	92.2
January 1, 2014 - December 31, 2014 [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	103,267
Fixed Price (Dollars per Unit)	91
January 1, 2014 - December 31, 2014 [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	31,000
Fixed Price (Dollars per Unit)	90.05
January 1, 2014 - December 31, 2014 [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	79,000
Fixed Price (Dollars per Unit)	94.3
2014 Total/Average [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	213,267
Fixed Price (Dollars per Unit)	92.08
January 1, 2015 - February 28, 2015 [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	13,876
Fixed Price (Dollars per Unit)	91
January 1, 2015 - February 28, 2015 [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	5,000
Fixed Price (Dollars per Unit)	90.05
January 1, 2015 - February 28, 2015 [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	10,000
Fixed Price (Dollars per Unit)	94.3
2015 Total/Average [Member]	'
Derivative [Line Items]	'
Oil (Barrels)	28,876
Fixed Price (Dollars per Unit)	91.98

DERIVATIVE_INSTRUMENTS_AND_PRI4

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT (Schedule of Derivative Instruments in Statement of Financial Position) (Details) (USD $)	Sep. 30, 2013
Derivative [Line Items]	'
Total Derivative Liabilities	($14,619,074)
Swap Contracts [Member] | Current liabilities [Member]	'
Derivative [Line Items]	'
Total Derivative Liabilities	-1,431,091
Swap Contracts [Member] | Non-current assets [Member]	'
Derivative [Line Items]	'
Total Derivative Liabilities	25,017
Warrant Liabilty [Member] | Non-current liabilities [Member]	'
Derivative [Line Items]	'
Total Derivative Liabilities	($13,213,000)

DERIVATIVE_INSTRUMENTS_AND_PRI5

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT (Schedule of Derivative Instruments, Gain (Loss) Recorded in Statement of Operations) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Derivative Instruments Gain Loss [Line Items]	'	'	'	'
Unrealized Gains (Losses), Net	($1,961,405)	($1,514,729)	($5,811,891)	($236,646)
Realized Losses	-1,264,755	-120,706	-1,597,536	-59,681
Swap Commodity Contracts [Member] | Loss on Commodity Derivatives [Member]	'	'	'	'
Derivative Instruments Gain Loss [Line Items]	'	'	'	'
Unrealized Gains (Losses), Net	-1,455,405	'	-1,224,891	'
Realized Losses	-1,264,755	'	-1,597,536	'
Warrant Liabilty [Member] | Warrant Revaluation Expense [Member]	'	'	'	'
Derivative Instruments Gain Loss [Line Items]	'	'	'	'
Unrealized Gains (Losses), Net	-506,000	'	-4,587,000	'
Costless Commodity Collars [Member] | Gain on Commodity Derivatives [Member]	'	'	'	'
Derivative Instruments Gain Loss [Line Items]	'	'	'	'
Unrealized Gains (Losses), Net	'	-1,514,729	'	-236,646
Realized Losses	'	($120,706)	'	($59,681)

SUBSEQUENT_EVENTS_Narrative_De

SUBSEQUENT EVENTS (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Public Offering [Member]	'
Subsequent Event [Line Items]	'
Subsequent event, date (Date)	2-Oct-13
Subsequent event, public offering, shares of common stock (in Shares)	15,000,000
Subsequent event, public offering, shares of common stock, price per share (in Dollars per Share)	$6.70
Subsequent event, public offering, net proceeds	$95,500,000
Subsequent event, public offering, costs incurred	5,000,000
Subsequent event, public offering, over-allotment option exercised, additional common stock sold (in Shares)	2,250,000
Subsequent event, public offering, over-allotment option exercised, additional common stock sold, price per share (in Dollars per Share)	$6.70
Subsequent event, public offering, over-allotment option exercised, net proceeds	14,400,000
Purchase and Sale Agreement [Member]	'
Subsequent Event [Line Items]	'
Subsequent event, date (Date)	19-Sep-13
Subsequent event, acres acquired (in Acres)	2,866
Subsequent event, acres acquired, aggregate amount	3,200,000
Series A Preferred Stock Redeemed [Member]	'
Subsequent Event [Line Items]	'
Subsequent event, date (Date)	15-Oct-13
Subsequent event, Series A Preferred stock redeemed (in Shares)	150,000
Subsequent event, Series A Preferred stock redeemed, value	16,932,534
Subsequent event, Series A Preferred stock redeemed, redemption premium	1,875,000
Subsequent event, Series A Preferred stock redeemed, accrued dividends	57,534
Subsequent event, Series A Preferred stock redeemed, liquidation preference value	16,875,000
Private Placement [Member]	'
Subsequent Event [Line Items]	'
Subsequent event, date (Date)	17-Oct-13
Subsequent event, private placement, shares of common stock (in Shares)	5,092,852
Subsequent event, private placement, shares of common stock, price per share (in Dollars per Share)	$6.39
Subsequent event, private placement, net proceeds	$32,500,000