Callon Petroleum (CPE) 10-Q 7 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 01, 2013
Entity Registrant Name	'CALLON PETROLEUM CO	'
Entity Central Index Key	'0000928022	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	40,345,456

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$869	$1,139
Accounts receivable	20,072	15,608
Fair market value of derivatives	0	1,674
Deferred tax asset	3,323	0
Other current assets	1,738	1,502
Total current assets	26,002	19,923
Oil and gas properties, full-cost accounting method:	'	'
Evaluated properties	1,634,151	1,497,010
Less accumulated depreciation, depletion and amortization	-1,329,866	-1,296,265
Net oil and gas properties	304,285	200,745
Unevaluated properties excluded from amortization	50,540	68,776
Total oil and natural gas properties	354,825	269,521
Other property and equipment, net	10,635	10,058
Restricted investments	3,800	3,798
Investment in Medusa Spar LLC	7,776	8,568
Deferred tax asset	60,198	64,383
Other assets, net	4,205	1,922
Total assets	467,441	378,173
Current liabilities:	'	'
Accounts payable and accrued liabilities	49,384	36,016
Asset retirement obligations	6,002	2,336
Fair market value of derivatives	1,139	125
Total current liabilities	56,525	38,477
13% Senior Notes:	'	'
Principal outstanding	96,961	96,961
Deferred credit, net of accumulated amortization of $20,248 and $17,800, respectively	11,259	13,707
Total 13% Senior Notes	108,220	110,668
Senior secured revolving credit facility	17,000	10,000
Asset retirement obligations	5,505	10,965
Other long-term liabilities	3,579	2,092
Total liabilities	190,829	172,202
Stockholders' equity:	'	'
Preferred stock, series A cumulative, $0.01 par value and $50.00 liquidation preference, 2,500 shares authorized: 1,579 and 0 shares outstanding, respectively	16	0
Common stock, $0.01 par value, 60,000 shares authorized; 40,328 and 39,801 shares outstanding, respectively	405	398
Capital in excess of par value	400,348	328,116
Retained deficit	-124,157	-122,543
Total stockholders' equity	276,612	205,971
Total liabilities and stockholders' equity	$467,441	$378,173

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Accumulated amortization of deferred credit	$20,248	$17,800
Stockholders' equity:	'	'
Preferred stock, par value	$0.01	$0.01
Preferred stock, liquidation preference per share	$50	$50
Preferred stock, shares authorized	2,500,000	2,500,000
Preferred stock, shares issued	1,578,948	0
Preferred Stock, Shares Outstanding	1,578,948	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares outstanding	40,328,446	39,800,548

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Operating revenues:	'	'	'	'
Crude oil revenues	$27,014	$24,061	$65,615	$71,883
Natural gas revenues	3,783	3,341	10,483	10,174
Total oil and natural gas revenues	30,797	27,402	76,098	82,057
Operating expenses:	'	'	'	'
Lease operating expenses	5,270	5,203	16,412	18,687
Production taxes	991	656	2,217	1,778
Depreciation, depletion and amortization	11,907	11,965	33,603	35,998
General and administrative	5,826	6,441	14,110	15,846
Accretion expense	458	574	1,556	1,709
Total operating expenses	24,452	24,839	67,898	74,018
Income from operations	6,345	2,563	8,200	8,039
Other (income) expenses:	'	'	'	'
Interest expense	1,417	2,135	4,469	7,096
Gain on early extinguishment of debt	0	0	0	-1,366
Loss (gain) on derivative contracts	3,686	1,598	2,123	-1,977
Other (income) expense, net	-279	237	-368	-224
Total other (income) expenses, net	4,824	3,970	6,224	3,529
Income (loss) before income taxes	1,521	-1,407	1,976	4,510
Income tax expense (benefit)	456	-246	950	1,508
Income (loss) before equity in earnings of Medusa Spar LLC	1,065	-1,161	1,026	3,002
Equity in earnings of Medusa Spar LLC	17	56	14	180
Net income (loss)	1,082	-1,105	1,040	3,182
Preferred stock dividends	-1,974	0	-2,654	0
Net income (loss) available to common shareholders	($892)	($1,105)	($1,614)	$3,182
Net income (loss) per common share:	'	'	'	'
Basic	($0.02)	($0.03)	($0.04)	$0.08
Diluted	($0.02)	($0.03)	($0.04)	$0.08
Shares used in computing net income (loss) per common share:	'	'	'	'
Basic	40,321	39,575	40,064	39,441
Diluted	40,321	39,575	40,064	40,243

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net income (loss)	$1,082	($1,105)	$1,040	$3,182
Other comprehensive (loss) income:	'	'	'	'
Change in fair value of derivatives designated as hedges, net of tax (See Note 5)	0	-1,268	0	-1,345
Comprehensive income (loss)	1,082	-2,373	1,040	1,837
Preferred stock dividends	-1,974	0	-2,654	0
Comprehensive income (loss) available to common shareholders	($892)	($2,373)	($1,614)	$1,837

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:	'	'
Net income	$1,040	$3,182
Adjustments to reconcile net income to cash provided by operating activities:	'	'
Depreciation, depletion and amortization	34,668	37,005
Accretion expense	1,556	1,709
Amortization of non-cash debt related items	348	293
Amortization of deferred credit	-2,448	-2,304
Non-cash gain on early extinguishment of debt	0	-1,366
Equity in earnings of Medusa Spar LLC	-14	-180
Deferred income tax expense	950	1,508
Unrealized loss (gain) on derivative contracts	2,929	-2,017
Non-cash expense related to equity share-based awards	1,335	752
Change in the fair value of liability share-based awards	1,076	2,611
Payments to settle asset retirement obligations	-701	-1,136
Changes in current assets and liabilities:	'	'
Accounts receivable	-3,455	-1,260
Other current assets	-236	244
Current liabilities	1,969	4,965
Payments to settle vested liability share-based awards	-239	-1,462
Change in natural gas balancing receivable	-206	-96
Change in natural gas balancing payable	-52	-152
Change in other long-term liabilities	-206	0
Change in other assets, net	-3,100	-911
Cash provided by operating activities	35,214	41,385
Cash flows from investing activities:	'	'
Capital expenditures	-101,067	-115,401
Acquisition	-11,000	0
Proceeds from sale of mineral interest and equipment	1,389	526
Distribution from Medusa Spar LLC	813	1,423
Cash used in investing activities	-109,865	-113,452
Cash flows from financing activities:	'	'
Borrowings on senior secured revolving credit facility	48,000	43,000
Payments on senior secured revolving credit facility	-41,000	-3,000
Redemption of 13% senior notes	0	-10,225
Issuance of preferred stock	70,035	0
Payment of preferred stock dividends	-2,654	0
Taxes paid related to exercise of employee stock options	0	-18
Cash provided by financing activities	74,381	29,757
Net change in cash and cash equivalents	-270	-42,310
Beginning of period cash and cash equivalents	1,139	43,795
End of period cash and cash equivalents	$869	$1,485

Description_of_Business_and_Ba

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Description of Business and Basis of Presentation	'
	Description of Business and Basis of Presentation
	Description of business
	Callon Petroleum Company is an independent crude oil and natural gas company established in 1950, which has been focused on building reserves and production both onshore and offshore through efficient operations and low finding and development costs. In 2009, we began to shift our operational focus from exploration in the Gulf of Mexico to building an onshore asset portfolio in order to provide a multi-year, low-risk drilling program in both crude oil and natural gas basins. A significant portion of this onshore transition has been funded by reinvesting the cash flows from the Company’s Gulf of Mexico properties. In the fourth quarter of 2012, we monetized our interest in the deepwater Habanero field in order to accelerate development of our onshore properties. In October 2013, we entered into an agreement to sell our interest in our remaining deepwater property, the Medusa field, the Company’s interest in the Medusa Spar facility and substantially all remaining offshore shelf properties. This transaction will complete our long-term goal of becoming an onshore operator upon closing with an asset base concentrated in the Permian Basin.
	Basis of presentation
	Unless otherwise indicated, all amounts included within the footnotes to the financial statements are presented in thousands, except for share, well, acreage and per-derivative instrument data.
	The interim consolidated financial statements of the Company have been prepared in accordance with (1) accounting principles generally accepted in the United States (“US GAAP”), (2) the Securities and Exchange Commission’s instructions to Quarterly Report on Form 10-Q and (3) Rule 10-01 of Regulation S-X, and include the accounts of the Company, and its subsidiary, Callon Petroleum Operating Company (“CPOC”). CPOC also has subsidiaries, namely Callon Offshore Production, Inc., and Mississippi Marketing, Inc.
	These interim consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The balance sheet at December 31, 2012 has been derived from the audited financial statements at that date.
	Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ended December 31, 2013.
	In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments, including normal recurring adjustments and all intercompany account and transaction eliminations, necessary to present fairly the Company’s financial position, the results of its operations and its cash flows for the periods indicated. When necessary to ensure consistent presentation, certain prior year amounts may be reclassified. To the extent the amounts reclassified are material, we have either footnoted them within the Company’s disclosures or have discussed the reclassifications within this footnote.
	New accounting standard
	In February 2013, the Financial Accounting Standards Board issued an Accounting Standards Update (ASU) that clarified the reclassification requirements from accumulated other comprehensive income to net income. This ASU requires disclosure of amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present either on the face of the financial statements or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount is reclassified in its entirety to net income in the same reporting period. For amounts not reclassified in their entirety to net income, an entity is required to cross-reference to the related note on the face of the financial statements for additional information. Callon adopted this guidance effective January 1, 2013, which did not have a material impact on its financial statements.

Property_Disclosures_and_Opera

Property Disclosures and Operating Leases	9 Months Ended
	Sep. 30, 2013
Property Acquisition and Operating Leases [Abstract]	'
Property Disclosures and Operating Leases	'
	Property Disclosures and Operating Leases
	In April 2012, the Company took delivery of a drilling rig for a two-year term to support its horizontal drilling program in the Permian Basin. On August 1, 2013, the Company contracted an additional horizontal drilling rig for a one-year term. Lease cost recorded during the three and nine months ended September 30, 2013 was $3,874 and $8,425, respectively. Lease payments will approximate $12,601 in 2013 (with $4,176 remaining at September 30, 2013) and $6,941 in 2014. The agreements include early termination provisions that would reduce the minimum rentals under the agreement, assuming the lessor is unable to re-charter the rig and staffing personnel to another lessee, to $2,760 in 2013 and $4,530 in 2014.
	On June 1, 2013, the Company acquired approximately 2,468 gross (2,186 net) acres in Reagan and Upton Counties, Texas, which is located in the southern portion of the Midland Basin and which is prospective for both horizontal and vertical drilling. The acquisition also included seven gross vertical wells and 1,051 barrels of oil equivalent proved reserves. The purchase price of $11,000 was funded using a portion of the proceeds from the preferred stock offering (discussed in Note 9).
	Subsequent Event - Offshore Asset Sale
	On October 17, 2013, the Company executed a purchase and sale agreement with W&T Offshore, Inc. (“W&T”), an unrelated third-party, pursuant to which W&T agreed to acquire our 15.0% working interest in the Medusa field (Mississippi Canyon blocks 582 and 538), our 10.0% membership interest in Medusa Spar LLC, and substantially all of our remaining Gulf of Mexico shelf properties for net cash consideration of approximately $100,000 before customary purchase price adjustments. W&T paid a deposit of $2,000, which will be applied to the purchase price. On November 5, 2013, the parties closed on a portion of the transaction for which the Company received $76,400 in proceeds. The remainder of the transaction is expected to close with adjusted proceeds of approximately $11,500 on or before November 30, 2013. The final closing of the transaction is subject to satisfaction of customary closing conditions and delivery of the total purchase price subject to adjustment for an acquisition effective date of July 1, 2013.
	Also in October of 2013, Callon entered into an agreement to sell its 69% interest in the Swan Lake field for $2,000. This field includes 429 net acres and produced approximately 173 Mcf per day during the three months ended September 30, 2013. This is the Company’s only field in the Haynesville shale.

Earnings_per_Share

Earnings per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Earnings per Share	'
	Earnings Per Share
	The following table sets forth the computation of basic and diluted earnings per share:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Net income (loss)	$	1,082		$	(1,105	)	$	1,040		$	3,182
	Preferred stock dividends	(1,974		)	—			(2,654		)	—
	(a) Net income (loss) available to common shareholders	(892		)	(1,105		)	(1,614		)	3,182
	(b) Weighted average shares outstanding	40,321			39,575			40,064			39,441
	Dilutive impact of stock options	—			—			—			10
	Dilutive impact of restricted stock	—			—			—			792
	(c) Weighted average shares outstanding for diluted net income (loss) per share	40,321			39,575			40,064			40,243
	Basic net income (loss) per share (a/b)	$	(0.02	)	$	(0.03	)	$	(0.04	)	$	0.08
	Diluted net income (loss) per share (a/c)	$	(0.02	)	$	(0.03	)	$	(0.04	)	$	0.08
	The following were excluded from the diluted EPS calculation because their effect would be anti-dilutive:
	Stock options	52			52			52			52
	Restricted stock	239			105			239			105

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Borrowings	'
	Borrowings
	The Company’s borrowings consisted of the following at:
		September 30, 2013			December 31, 2012
	Principal components:
	Credit Facility	$	17,000		$	10,000
	13% Senior Notes due 2016, principal	96,961			96,961
	Total principal outstanding	113,961			106,961
	Non-cash components:
	13% Senior Notes due 2016 unamortized deferred credit	11,259			13,707
	Total carrying value of borrowings	$	125,220		$	120,668
	Senior Secured Revolving Credit Facility (the “Credit Facility”)
	As of September 30, 2013, the Company’s $200,000 Credit Facility had an associated borrowing base of $75,000 with a maturity date of March 15, 2016. In November 2013, the Credit Facility’s borrowing base was increased to $83,000 following a review of the Company’s reserve base, pro forma for the sale of the Gulf of Mexico properties discussed in Note 2, and is contingent upon the repayment of 50% of the outstanding principal of the Senior Notes. To the extent the Company elects not to redeem the 13% Senior Notes before December 20, 2013, the borrowing base would be reduced by an amount equal to 25% of the aggregate principal balance of the Senior Notes outstanding on December 20, 2013 in excess of $48,000. Regions Bank serves as the administrative agent for the Credit Facility, which also includes Citibank, NA, IberiaBank, Whitney Bank and OneWest Bank, FSB as participating lenders. Amounts borrowed under the Credit Facility may not exceed a borrowing base, which is generally reviewed on a semi-annual basis and is then eligible for re-determination. The Credit Facility is secured by mortgages covering the Company’s major producing fields.
	On May 10, 2013, the Company entered into the second amendment to our Fourth Amended and Restated Credit Agreement that allows the Company to pay quarterly Senior Unsecured Debt and Preferred Equity dividends of up to $5,500 per quarter, so long as the Company is not in default under the Credit Facility. The amendment became effective with the receipt of the cash proceeds from the preferred equity offering discussed in Note 9.
	As of September 30, 2013, the balance outstanding on the Credit Facility was $17,000 with an interest rate of 2.7%, calculated as the London Interbank Offered Rate (“LIBOR”) plus a tiered rate ranging from 2.5% to 3.0%, which is determined by utilization of the facility. In addition, the Credit Facility carries a commitment fee of 0.5% per annum on the unused portion of the borrowing base, which is payable quarterly.
	13% Senior Notes due 2016 (“Senior Notes”) and Deferred Credit
	Interest on the Senior Notes is payable on the last day of each quarter. Certain of the Company’s subsidiaries guarantee the Company’s obligations under the unsecured Senior Notes. The subsidiary guarantors are 100% owned, all of the guarantees are full and unconditional and joint and several, the parent company has no independent assets or operations, and any subsidiaries of the parent company other than the subsidiary guarantors are minor. Upon issuing the Senior Notes in November 2009, the Company recorded as a deferred credit the $31,507 difference between the adjusted carrying amount of the Senior Notes that were exchanged and the principal of the Senior Notes. This deferred credit is being amortized as a reduction of interest expense over the life of the Senior Notes at an 8.5% effective interest rate. The following table summarizes the Company’s deferred credit balance:
	Gross Carrying	Accumulated Amortization at		Carrying Value at	Amortization Recorded during Current Year as a Reduction of		Estimated Amortization to be Recorded during the Remainder of the
	Amount	9/30/13		9/30/13	Interest Expense		Current Year
	$31,507	$20,248		$11,259	$2,448		$851
	Restrictive Covenants
	The indentures governing our Senior Notes and the Company’s Credit Facility contain various covenants including restrictions on additional indebtedness and payment of cash dividends. In addition, Callon’s Credit Facility contains covenants for maintenance of certain financial ratios. The Company was in compliance with these covenants at September 30, 2013.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivative Instruments and Hedging Activities	'
	Derivative Instruments and Hedging Activities
	Objectives and strategies for using derivative instruments
	The Company is exposed to fluctuations in realized crude oil and natural gas prices for its production. Consequently, the Company believes it is prudent to manage the variability in cash flows on a portion of its crude oil and natural gas production. The Company primarily utilizes collars, put and call options and swap derivative financial instruments to manage fluctuations in cash flows resulting from changes in commodity prices. The Company does not use these instruments for speculative purposes.
	Counterparty risk and offsetting
	The use of derivative transactions exposes the Company to the risk that a counterparty will be unable to meet its commitments. To manage this risk, the Company’s established counterparties for commodity derivative instruments include a large, well-known financial institution and a large, well-known oil and gas company. While the Company monitors counterparty creditworthiness on an ongoing basis, it cannot predict sudden changes in counterparties’ creditworthiness. In addition, even if such changes are not sudden, the Company may be limited in its ability to mitigate an increase in counterparty credit risk. Should one of these counterparties not perform, the Company may not realize the benefit of some of its derivative instruments under lower commodity prices. Counterparty credit risk is considered when determining a derivative instruments’ fair value; See Note 6 for additional information.
	The Company executes commodity derivative transactions under master agreements that have netting provisions that provide for offsetting payables against receivables. In general, if a party to a derivative transaction incurs an event of default, as defined in the applicable agreement, the other party will have the right to demand the posting of collateral, demand a cash payment transfer or terminate the arrangement.
	Financial statement presentation and settlements
	In the first quarter of 2013, the Company monetized the remaining portion (covering the period Feb13-Dec13) of its 2013 crude oil collar positions of 40 Bbls per month. The proceeds from this transaction, combined with the proceeds from the sale of the below listed put for 30 Bbls per month, were used to finance the uplift in the crude oil swap for the period Feb13-Dec13.
	Listed in the table below are the outstanding crude oil and natural gas derivative contracts as of September 30, 2013:
	Commodity	Instrument		Average Notional Volumes per Month	Quantity Type		Put/Call Price				Fixed-Price Swap				Period	Designation under ASC 815
	Natural gas	Swap		91	MMbtu		n/a				$	3.52			Oct13 - Dec13	Not Designated
	Natural gas	Put Option		91	MMbtu		$	3			n/a				Oct13 - Dec13	Not Designated
	Crude oil	Swap		40	Bbls		n/a				$	101.3			Oct13 - Dec13	Not Designated
	Natural gas	Call Option		38	MMbtu		$	4.75			n/a				Jan14 - Dec14	Not Designated
	Crude oil	Swap		30	Bbls		n/a				$	93.35			Jan14 - Dec14	Not Designated
	Crude oil	Put Option		30	Bbls		$	70			n/a				Jan14 - Dec14	Not Designated
	Crude oil	Swap		18	Bbls		n/a				$	102.08			Oct13 - Dec13	Not Designated
	Crude oil	Swap		9	Bbls		n/a				$	94.58			Jan14 - Dec14	Not Designated
	Settlements of the Company’s derivative instruments are based on the difference between the contract price or prices specified in the derivative instrument and a New York Mercantile Exchange (“NYMEX”) price. The fair value of the Company’s derivative instruments, depending on the type of instruments, was determined by the use of present value methods or standard option valuation models with assumptions about commodity prices based on those observed in underlying markets. See Note 6 for additional information regarding fair value.
	The following table reflects the fair values of the Company’s derivative instruments for the periods presented (none of which were designated as hedging instruments under ASC 815):
		Balance Sheet Presentation			Asset Fair Value								Liability Fair Value						Net Derivative Fair Value
	Commodity	Classification		Line Description	9/30/13				12/31/12				9/30/13			12/31/12			9/30/13			12/31/12
	Natural gas	Current		Fair market value of derivatives	$	—			$	—			$	(45	)	$	(125	)	$	(45	)	$	(125	)
	Natural gas	Non-current		Other long-term liabilities	—				—				(18		)	(116		)	(18		)	(116		)
	Crude oil	Current		Fair market value of derivatives	—				1,674				(1,094		)	—			(1,094		)	1,674
	Crude oil	Non-current		Other long-term assets	36				250				—			—			36			250
		Totals			$	36			$	1,924			$	(1,157	)	$	(241	)	$	(1,121	)	$	1,683
	The Company’s derivative contracts are subject to netting arrangements and, being representative of the way in which the contracts settle, are presented in the balance sheet at their fair values on a net basis based on the underlying commodity being hedged. The following presents the impact of this presentation to the Company’s recognized assets and liabilities at September 30, 2013:
		Presented without							As Presented with
		Effects of Netting			Effects of Netting				Effects of Netting
	Current assets: Fair value of hedging contracts	$	96		$	(96	)		$	—
	Long-term assets: Fair value of hedging contracts	155			(119		)		36
	Current liabilities: Fair value of hedging contracts	(1,235		)	96				(1,139		)
	Long-term liabilities: Fair value of hedging contracts	(137		)	119				(18		)
	Derivatives not designated as hedging instruments
	As discussed in the Company’s Form 10-K for the year ended December 31, 2012, the Company elected not to designate as an accounting hedge under FASB ASC 815 any of its derivative contracts executed subsequent to December 31, 2011, nor does it expect to designate future derivative contracts. Derivative contracts not designated as accounting hedges are carried at fair value on the balance sheet with both realized and unrealized (i.e. mark-to-market) gains or losses recorded on the statement of operations as a component of the Company’s other income and expenses.
	For the periods indicated, the Company recorded the following related to its derivative instruments that were not designated as accounting hedges:
		Three Months Ended September 30,							Nine Months Ended September 30,
		2013			2012				2013				2012
	Natural gas derivatives
	Realized gain (loss), net	$	(16	)	$	—			$	(123	)		$	—
	Unrealized gain (loss), net	81			(205		)		178				(536		)
	Sub-total gain (loss), net	$	65		$	(205	)		$	55			$	(536	)
	Crude oil derivatives
	Realized gain (loss), net	$	(618	)	$	—			$	804
	Unrealized gain (loss), net	(3,133		)	(1,393		)		(2,982		)		2,513
	Sub-total gain (loss), net	$	(3,751	)	$	(1,393	)		$	(2,178	)		$	2,513
	Total gain (loss) on derivative instruments, net	$	(3,686	)	$	(1,598	)		$	(2,123	)		$	1,977
	Derivatives designated as hedging instruments
	As previously discussed, the Company elected to discontinue hedge accounting at the start of 2012, though certain of the Company’s crude oil derivative contracts designated as cash flow hedges were executed in prior periods and were in effect during 2012. Consequently, these designated contracts were recorded at fair market value with the effective portion of the changes in fair value recorded net of tax through other comprehensive income (loss) (“OCI”) in stockholders’ equity. The cash settlements on contracts for future production were recorded as an increase or decrease in crude oil revenues. Both changes in fair value and cash settlements of ineffective derivative contracts were recognized as derivative expense (income). All contracts previously designated as hedging instruments expired during 2012.
	The tables below present the effect of the Company’s derivative financial instruments on the consolidated statements of operations as an increase (decrease) to crude oil revenues for the effective portion and as an increase (decrease) to other (income) expense for the ineffective portion and amounts excluded from effectiveness testing:
		Three Months Ended September 30,							Nine Months Ended September 30,
		2013			2012				2013				2012
	Amount of gain reclassified from OCI into income (effective portion)	$	—		$	260			$	—			$	772
	Amount of gain (loss) recognized in income (ineffective portion and amount excluded from effectiveness testing)	—			(282		)		—				40

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	The fair value hierarchy outlined in the relevant accounting guidance gives the highest priority to Level 1 inputs, which consist of unadjusted quoted prices for identical instruments in active markets. Level 2 inputs consist of quoted prices for similar instruments. Level 3 valuations are derived from inputs that are significant and unobservable, and these valuations have the lowest priority.
	Fair value of financial instruments
	Cash, cash equivalents, short-term investments. The carrying amounts for these instruments approximate fair value due to the short-term nature or maturity of the instruments.
	Debt. The Company’s debt is recorded at the carrying amount on its Consolidated Balance Sheet. The fair value of Callon’s fixed-rate debt, which is valued using Level 2 inputs, is based upon estimates provided by an independent investment banking firm. The carrying amount of floating-rate debt approximates fair value because the interest rates are variable and reflective of market rates.
	The following table summarizes the respective carrying and fair values at:
		September 30, 2013								December 31, 2012
		Carrying Value				Fair Value				Carrying Value				Fair Value
	Credit Facility	$	17,000			$	17,000			$	10,000			$	10,000
	13% Senior Notes due 2016 (1)	108,220				100,718				110,668				100,112
	Total	$	125,220			$	117,718			$	120,668			$	110,112
	(1) Fair value is calculated only in relation to the $96,961 principal outstanding of the Senior Notes at each of the dates indicated above, respectively. The remaining $11,259 and $13,707, respectively, which the Company has recorded as a deferred credit, is excluded from the fair value calculation, and will be recognized in earnings as a reduction of interest expense over the remaining amortization period. See Note 4 for additional information.
	Assets and liabilities measured at fair value on a recurring basis
	Certain assets and liabilities are reported at fair value on a recurring basis (unless otherwise noted below) in the Company’s Consolidated Balance Sheet. The following methods and assumptions were used to estimate the fair values:
	Commodity derivative instruments: Callon’s derivative policy allows for commodity derivative instruments to consist of natural gas and crude oil collars, basis swaps, puts, calls and similar commodity instrument structures. The fair value of these derivatives is derived using a valuation model that utilizes market-corroborated inputs that are observable over the term of the derivative contract, and the values are corroborated by quotes obtained from counterparties to the agreements. The Company’s fair value calculations, based on analysis of each contract, also incorporate an estimate of the counterparties’ default risk for derivative assets and an estimate of the Company’s default risk for derivative liabilities. The Company believes that the majority of the inputs used to calculate the commodity derivative instruments fall within Level 2 of the fair-value hierarchy based on the wide availability of quoted market prices for similar commodity derivative contracts. See Note 5 for additional information regarding the Company’s derivative instruments.
	The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis for each hierarchy level:
	As of 9/30/2013	Balance Sheet Presentation		Level 1				Level 2				Level 3				Total
	Assets
	Derivative financial instruments - current	Fair market value of derivatives		$	—			$	—			$	—			$	—
	Derivative financial instruments - non-current	Other long-term assets		—				36				—				36
	Sub-total assets			—				36				—				36
	Liabilities
	Derivative financial instruments - current	Fair market value of derivatives		$	—			$	1,139			$	—			$	1,139
	Derivative financial instruments - non-current	Other long-term liabilities		—				18				—				18
	Sub-total liabilities	Other long-term liabilities		—				1,157				—				1,157
	Total			$	—			$	(1,121	)		$	—			$	(1,121	)
	As of 12/31/2012	Balance Sheet Presentation		Level 1				Level 2				Level 3				Total
	Assets
	Derivative financial instruments - current	Fair market value of derivatives		$	—			$	1,674			$	—			$	1,674
	Derivative financial instruments - non-current	Other long-term assets		—				250				—				250
	Sub-total assets			—				1,924				—				1,924
	Liabilities
	Derivative financial instruments - current	Fair market value of derivatives		$	—			$	125			$	—			$	125
	Derivative financial instruments - non-current	Other long-term liabilities		—				116				—				116
	Sub-total liabilities			—				241				—				241
	Total			$	—			$	1,683			$	—			$	1,683
	Assets and liabilities measured at fair value on a nonrecurring basis
	Certain assets and liabilities are reported at fair value on a nonrecurring basis in Callon’s Consolidated Balance Sheet. The following methods and assumptions were used to estimate the fair values:
	Asset retirement obligations (“ARO”) incurred in current period. Callon estimates the fair value of AROs based on discounted cash flow projections using numerous estimates, assumptions and judgments regarding such factors as (1) the existence of a legal obligation for an ARO, (2) amounts and timing of settlements, (3) the credit-adjusted risk-free rate to be used and (4) inflation rates. AROs incurred during the nine months ended September 30, 2013, including no upward revisions, were Level 3 fair value measurements. See Note 8, Asset Retirement Obligations, which provides a summary of changes in the ARO liability.
	Acquisition. In accordance with the acquisition method of accounting, the purchase price of the Company’s acquisition during the period has been allocated to the assets acquired and liabilities assumed based on their estimated fair values on the acquisition date. In valuing the acquired assets and liabilities assumed, fair values were based on expected future cash flows based on estimated reserve quantities; costs to produce and develop reserves; and oil and gas forward prices. The fair value measurements were based on significant inputs not observable in the market and thus represent a level 3 measurement.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	The Company provides for income taxes at a statutory rate of 35% adjusted for permanent differences expected to be realized, which primarily relate to statutory depletion and non-deductible executive compensation expenses. The effective tax rate for the nine months ended September 30, 2013 and 2012 was 48% and 33%, respectively. The 48% effective tax rate for the nine months ended September 30, 2013 is primarily a result of the permanent differences previously noted, as well as certain discrete items occurring in the second quarter of 2013, including shortfalls associated with the Company’s restricted stock awards vesting during the period. We have no liability for uncertain tax positions or any accrued interest or penalties as of September 30, 2013.

Asset_Retirement_Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2013
Asset Retirement Obligation [Abstract]	'
Asset Retirement Obligations	'
	Asset Retirement Obligations
	The table below summarizes the Company’s asset retirement obligations activity for the nine months ended September 30, 2013:
	Asset retirement obligations at January 1, 2013	$	13,301
	Accretion expense	1,556
	Liabilities incurred	624
	Liabilities settled	(497		)
	Revisions to estimate	(3,477		)
	Asset retirement obligations at end of period	11,507
	Less: Current asset retirement obligations	6,002
	Long-term asset retirement obligations at September 30, 2013	$	5,505
	Certain of the Company’s operating agreements require that assets be restricted for future abandonment obligations. Amounts recorded on the Consolidated Balance Sheets as restricted investments were $3,800 at September 30, 2013. These investments include primarily U.S. Government securities, and are held in abandonment trusts dedicated to pay future abandonment costs for several of the Company’s crude oil and natural gas properties.
	On October 17, 2013, the Company announced entrance into an agreement to sell its interest in the Medusa field, Medusa Spar LLC, and substantially all of its Gulf of Mexico shelf properties to W&T. Under the agreement, which is expected to close on or before November 30, 2013, W&T will assume an estimated $4,500 of the ARO related to these offshore assets. See Note 2 for additional information.

Equity_Transactions

Equity Transactions	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Equity Transactions	'
	Equity Transaction
	On May 30, 2013, the Company issued $75,000 of 10.0% Series A Cumulative Preferred Stock (the “Preferred Stock”) and received $70,000 net proceeds after deducting the underwriting commissions and offering expenses. The sale consisted of 1.6 million shares of Preferred Stock, par value $0.01 per share, public offering price of $47.50 per share and liquidation preference of $50.00 per share in an underwritten public offering. The Preferred Stock ranks senior to the Company’s common stock with respect to the payment of dividends and distribution of assets upon liquidation or dissolution. The Preferred Stock has no stated maturity and is not subject to mandatory redemption or any sinking fund. The Preferred Stock will remain outstanding indefinitely unless repurchased by the Company or converted into Callon common stock in connection with certain changes in control as defined in the Preferred Stock prospectus.
	Holders of the Preferred Stock are entitled to receive, when, as and if declared by our Board of Directors (the “Board”), out of funds legally available for the payment of dividends, cumulative cash dividends at a rate of 10.0% per annum of the $50.00 liquidation preference per share (equivalent to $5.00 per annum per share). Dividends are payable quarterly in arrears on the last day of each March, June, September and December when, as and if declared by our Board. The first dividend date for the Preferred Stock was June 30, 2013, and these dividends were paid on June 28, 2013 (as June 30 fell on a weekend) in the amount of $0.43 per share or $680 for the stub period beginning with the issuance on May 30, 2013 through the dividend date on June 30, 2013. On September 3, 2013, the Board of Directors declared a dividend of $1.25 per share, or a total of $1,974, on the Company’s Preferred Stock to stockholders of record at the close of business on September 13, 2013, and the dividends were paid on September 30, 2013. To date in 2013, the Company has recognized dividend expense of $2,654.
	Beginning on May 30, 2018, the Company may, solely at its option, redeem the Preferred Stock in whole at any time, or in part from time to time, for cash at a redemption price of $50.00 per share, plus accrued and unpaid dividends (whether or not declared) to the redemption date. The Company may redeem the Preferred Stock following certain changes of control as defined in the Preferred Stock prospectus, in whole or in part, within 120 days after the date on which the change of control has occurred, for cash at $50.00 per share, plus accrued and unpaid dividends (whether or not declared) to the redemption date. If the Company elects not to exercise this option, the holders of the Preferred Stock have the option to convert each share of Preferred Stock into a predefined number of Company common shares, subject to certain adjustments. As defined in a provision of the Preferred Stock prospectus, the common shares reserved for issuance vary based on the number of authorized common shares. Based on the Company’s 60 million currently authorized shares, 16.8 million shares are reserved for a potential conversion.
	The number of reserved common shares increases to a maximum of 42.2 million at such time as the Company’s authorized common shares increase. Except as required by law, holders of the Preferred Stock will have no voting rights unless dividends fall into arrears for six or more quarterly periods (whether or not consecutive). In that event and until such dividends in arrears are paid in full, the holders will be entitled to elect two directors to the Board, which will increase in size by that same number of directors.

Earnings_per_Share_Tables

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Computation of Earnings Per Share, Basic and Diluted	'
	The following table sets forth the computation of basic and diluted earnings per share:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Net income (loss)	$	1,082		$	(1,105	)	$	1,040		$	3,182
	Preferred stock dividends	(1,974		)	—			(2,654		)	—
	(a) Net income (loss) available to common shareholders	(892		)	(1,105		)	(1,614		)	3,182
	(b) Weighted average shares outstanding	40,321			39,575			40,064			39,441
	Dilutive impact of stock options	—			—			—			10
	Dilutive impact of restricted stock	—			—			—			792
	(c) Weighted average shares outstanding for diluted net income (loss) per share	40,321			39,575			40,064			40,243
	Basic net income (loss) per share (a/b)	$	(0.02	)	$	(0.03	)	$	(0.04	)	$	0.08
	Diluted net income (loss) per share (a/c)	$	(0.02	)	$	(0.03	)	$	(0.04	)	$	0.08
	The following were excluded from the diluted EPS calculation because their effect would be anti-dilutive:
	Stock options	52			52			52			52
	Restricted stock	239			105			239			105

Borrowings_Tables

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Schedule of Borrowings	'
	The Company’s borrowings consisted of the following at:
		September 30, 2013			December 31, 2012
	Principal components:
	Credit Facility	$	17,000		$	10,000
	13% Senior Notes due 2016, principal	96,961			96,961
	Total principal outstanding	113,961			106,961
	Non-cash components:
	13% Senior Notes due 2016 unamortized deferred credit	11,259			13,707
	Total carrying value of borrowings	$	125,220		$	120,668
Schedule of Deferred Credit Balance Related to Senior Notes	'
	The following table summarizes the Company’s deferred credit balance:
	Gross Carrying	Accumulated Amortization at		Carrying Value at	Amortization Recorded during Current Year as a Reduction of		Estimated Amortization to be Recorded during the Remainder of the
	Amount	9/30/13		9/30/13	Interest Expense		Current Year
	$31,507	$20,248		$11,259	$2,448		$851

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of Outstanding Oil and Natural Gas Derivative Contracts	'
	In the first quarter of 2013, the Company monetized the remaining portion (covering the period Feb13-Dec13) of its 2013 crude oil collar positions of 40 Bbls per month. The proceeds from this transaction, combined with the proceeds from the sale of the below listed put for 30 Bbls per month, were used to finance the uplift in the crude oil swap for the period Feb13-Dec13.
	Listed in the table below are the outstanding crude oil and natural gas derivative contracts as of September 30, 2013:
	Commodity	Instrument		Average Notional Volumes per Month	Quantity Type		Put/Call Price				Fixed-Price Swap				Period	Designation under ASC 815
	Natural gas	Swap		91	MMbtu		n/a				$	3.52			Oct13 - Dec13	Not Designated
	Natural gas	Put Option		91	MMbtu		$	3			n/a				Oct13 - Dec13	Not Designated
	Crude oil	Swap		40	Bbls		n/a				$	101.3			Oct13 - Dec13	Not Designated
	Natural gas	Call Option		38	MMbtu		$	4.75			n/a				Jan14 - Dec14	Not Designated
	Crude oil	Swap		30	Bbls		n/a				$	93.35			Jan14 - Dec14	Not Designated
	Crude oil	Put Option		30	Bbls		$	70			n/a				Jan14 - Dec14	Not Designated
	Crude oil	Swap		18	Bbls		n/a				$	102.08			Oct13 - Dec13	Not Designated
	Crude oil	Swap		9	Bbls		n/a				$	94.58			Jan14 - Dec14	Not Designated
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	'
	The following table reflects the fair values of the Company’s derivative instruments for the periods presented (none of which were designated as hedging instruments under ASC 815):
		Balance Sheet Presentation			Asset Fair Value								Liability Fair Value						Net Derivative Fair Value
	Commodity	Classification		Line Description	9/30/13				12/31/12				9/30/13			12/31/12			9/30/13			12/31/12
	Natural gas	Current		Fair market value of derivatives	$	—			$	—			$	(45	)	$	(125	)	$	(45	)	$	(125	)
	Natural gas	Non-current		Other long-term liabilities	—				—				(18		)	(116		)	(18		)	(116		)
	Crude oil	Current		Fair market value of derivatives	—				1,674				(1,094		)	—			(1,094		)	1,674
	Crude oil	Non-current		Other long-term assets	36				250				—			—			36			250
		Totals			$	36			$	1,924			$	(1,157	)	$	(241	)	$	(1,121	)	$	1,683
Offsetting Assets and Liabilities	'
	The following presents the impact of this presentation to the Company’s recognized assets and liabilities at September 30, 2013:
		Presented without							As Presented with
		Effects of Netting			Effects of Netting				Effects of Netting
	Current assets: Fair value of hedging contracts	$	96		$	(96	)		$	—
	Long-term assets: Fair value of hedging contracts	155			(119		)		36
	Current liabilities: Fair value of hedging contracts	(1,235		)	96				(1,139		)
	Long-term liabilities: Fair value of hedging contracts	(137		)	119				(18		)
Schedule of Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance	'
	For the periods indicated, the Company recorded the following related to its derivative instruments that were not designated as accounting hedges:
		Three Months Ended September 30,							Nine Months Ended September 30,
		2013			2012				2013				2012
	Natural gas derivatives
	Realized gain (loss), net	$	(16	)	$	—			$	(123	)		$	—
	Unrealized gain (loss), net	81			(205		)		178				(536		)
	Sub-total gain (loss), net	$	65		$	(205	)		$	55			$	(536	)
	Crude oil derivatives
	Realized gain (loss), net	$	(618	)	$	—			$	804
	Unrealized gain (loss), net	(3,133		)	(1,393		)		(2,982		)		2,513
	Sub-total gain (loss), net	$	(3,751	)	$	(1,393	)		$	(2,178	)		$	2,513
	Total gain (loss) on derivative instruments, net	$	(3,686	)	$	(1,598	)		$	(2,123	)		$	1,977
Schedule of Derivatives Designated as Hedging Instruments. Gain (Loss) in Statement of Financial Performance	'
	The tables below present the effect of the Company’s derivative financial instruments on the consolidated statements of operations as an increase (decrease) to crude oil revenues for the effective portion and as an increase (decrease) to other (income) expense for the ineffective portion and amounts excluded from effectiveness testing:
		Three Months Ended September 30,							Nine Months Ended September 30,
		2013			2012				2013				2012
	Amount of gain reclassified from OCI into income (effective portion)	$	—		$	260			$	—			$	772
	Amount of gain (loss) recognized in income (ineffective portion and amount excluded from effectiveness testing)	—			(282		)		—				40

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Summary of Fair Value of Financial Instruments at Carrying and Fair Value	'
	The following table summarizes the respective carrying and fair values at:
		September 30, 2013								December 31, 2012
		Carrying Value				Fair Value				Carrying Value				Fair Value
	Credit Facility	$	17,000			$	17,000			$	10,000			$	10,000
	13% Senior Notes due 2016 (1)	108,220				100,718				110,668				100,112
	Total	$	125,220			$	117,718			$	120,668			$	110,112
	(1) Fair value is calculated only in relation to the $96,961 principal outstanding of the Senior Notes at each of the dates indicated above, respectively. The remaining $11,259 and $13,707, respectively, which the Company has recorded as a deferred credit, is excluded from the fair value calculation, and will be recognized in earnings as a reduction of interest expense over the remaining amortization period. See Note 4 for additional information.
Fair Value Liabilities Measured on Recurring Basis	'
	The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis for each hierarchy level:
	As of 9/30/2013	Balance Sheet Presentation		Level 1				Level 2				Level 3				Total
	Assets
	Derivative financial instruments - current	Fair market value of derivatives		$	—			$	—			$	—			$	—
	Derivative financial instruments - non-current	Other long-term assets		—				36				—				36
	Sub-total assets			—				36				—				36
	Liabilities
	Derivative financial instruments - current	Fair market value of derivatives		$	—			$	1,139			$	—			$	1,139
	Derivative financial instruments - non-current	Other long-term liabilities		—				18				—				18
	Sub-total liabilities	Other long-term liabilities		—				1,157				—				1,157
	Total			$	—			$	(1,121	)		$	—			$	(1,121	)
	As of 12/31/2012	Balance Sheet Presentation		Level 1				Level 2				Level 3				Total
	Assets
	Derivative financial instruments - current	Fair market value of derivatives		$	—			$	1,674			$	—			$	1,674
	Derivative financial instruments - non-current	Other long-term assets		—				250				—				250
	Sub-total assets			—				1,924				—				1,924
	Liabilities
	Derivative financial instruments - current	Fair market value of derivatives		$	—			$	125			$	—			$	125
	Derivative financial instruments - non-current	Other long-term liabilities		—				116				—				116
	Sub-total liabilities			—				241				—				241
	Total			$	—			$	1,683			$	—			$	1,683

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2013
Asset Retirement Obligation [Abstract]	'
Schedule of Change in Asset Retirement Obligation	'
	The table below summarizes the Company’s asset retirement obligations activity for the nine months ended September 30, 2013:
	Asset retirement obligations at January 1, 2013	$	13,301
	Accretion expense	1,556
	Liabilities incurred	624
	Liabilities settled	(497		)
	Revisions to estimate	(3,477		)
	Asset retirement obligations at end of period	11,507
	Less: Current asset retirement obligations	6,002
	Long-term asset retirement obligations at September 30, 2013	$	5,505

Property_Disclosures_and_Opera1

Property Disclosures and Operating Leases (Narrative) (Details) (USD $)

9 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Apr. 30, 2012

Aug. 01, 2013

Nov. 05, 2013

Oct. 17, 2013

Oct. 17, 2013

Oct. 17, 2013

Sep. 30, 2013

Oct. 31, 2013

Jun. 01, 2013

Horizontal Drilling Rig [Member]

Horizontal Drilling Rig [Member]

Horizontal Drilling Rig [Member]

Horizontal Drilling Rig [Member]

Horizontal Drilling Rig One [Member]

Horizontal Drilling Rig Two [Member]

Medusa Fields, Medusa Spar LLC, And Gulf Of Mexico Shelf Properties [Member]

Medusa Fields, Medusa Spar LLC, And Gulf Of Mexico Shelf Properties [Member]

Medusa Field [Member]

Medusa Spar, LLC [Member]

Swan Lake Field [Member]

Swan Lake Field [Member]

Southern Reagan County, Texas [Member]

Early Termination Provision if Sub Lessor is Found [Member]

Permian Basin [Member]

Permian Basin [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Oil_well

Subsequent Event [Member]

Mcfe

acre

acre

bbl

Property

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Contracted drilling rig, term (in years)

'

'

'

'

'

'

'2 years

'1 year

'

'

'

'

'

'

'

Operating lease payments

'

'

$3,874

$8,425

'

'

'

'

'

'

'

'

'

'

'

Business Acquisitions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gross acres acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,468

Net acres acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

429

2,186

Gross number of oil wells acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7

Number of barrels of oil equivalent proved reserves acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,051,000

Purchase price

11,000

0

'

'

'

'

'

'

'

'

'

'

'

'

11,000

Operating Leases, Future Minimum Payments Due

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Lease payments in 2013

'

'

'

'

12,601

2,760

'

'

'

'

'

'

'

'

'

Lease payments in 2013 in remainder of fiscal year

'

'

4,176

4,176

'

'

'

'

'

'

'

'

'

'

'

Lease payments in 2014

'

'

6,941

6,941

'

4,530

'

'

'

'

'

'

'

'

'

Discontinued Operations and Disposal Groups [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of business sold

'

'

'

'

'

'

'

'

'

'

15.00%

10.00%

'

69.00%

'

Net cash consideration received from sale of businesses

'

'

'

'

'

'

'

'

'

100,000

'

'

'

2,000

'

Proceeds received from sale of businesses

'

'

'

'

'

'

'

'

76,400

'

'

'

'

'

'

Deposit paid by purchaser of business

'

'

'

'

'

'

'

'

'

2,000

'

'

'

'

'

Potential adjustment in proceeds

'

'

'

'

'

'

'

'

$11,500

'

'

'

'

'

'

Net acres disposed

'

'

'

'

'

'

'

'

'

'

'

'

'

429

2,186

Approximate production per day during period

'

'

'

'

'

'

'

'

'

'

'

'

173

'

'

Earnings_per_Share_Details

Earnings per Share (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share, Basic and Diluted	'	'	'	'
Net income (loss)	$1,082	($1,105)	$1,040	$3,182
Preferred stock dividends	-1,974	0	-2,654	0
Net income (loss) available to common shareholders	($892)	($1,105)	($1,614)	$3,182
Weighted average shares outstanding	40,321	39,575	40,064	39,441
Weighted average shares outstanding for diluted net income (loss) per share	40,321	39,575	40,064	40,243
Basic net income (loss) per share (in dollars per share)	($0.02)	($0.03)	($0.04)	$0.08
Diluted net income (loss) per share (in dollars per share)	($0.02)	($0.03)	($0.04)	$0.08
Stock Options [Member]	'	'	'	'
Earnings Per Share, Basic and Diluted	'	'	'	'
Weighted average shares outstanding, adjustment	0	0	0	10
Excluded from the diluted EPS calculation because their effect would be anti-dilutive	52	52	52	52
Restricted Stock [Member]	'	'	'	'
Earnings Per Share, Basic and Diluted	'	'	'	'
Weighted average shares outstanding, adjustment	0	0	0	792
Excluded from the diluted EPS calculation because their effect would be anti-dilutive	239	105	239	105

Borrowings_Schedule_of_Borrowi

Borrowings (Schedule of Borrowings) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Principal components:	'	'
Principal outstanding	$113,961	$106,961
Non-cash components:	'	'
13% Senior Notes due 2016 unamortized deferred credit	11,259	13,707
Total carrying value of borrowings	125,220	120,668
Revolving Credit Facility [Member]	'	'
Principal components:	'	'
Principal outstanding	17,000	10,000
Senior Notes [Member] | 13% Senior Notes due 2016 [Member]	'	'
Principal components:	'	'
Principal outstanding	96,961	96,961
Non-cash components:	'	'
13% Senior Notes due 2016 unamortized deferred credit	$11,259	$13,707

Borrowings_Senior_Secured_Revo

Borrowings (Senior Secured Revolving Credit Facility) (Details) (USD $)	0 Months Ended	9 Months Ended		3 Months Ended			9 Months Ended
	10-May-13	Sep. 30, 2013	Sep. 30, 2013	Dec. 20, 2013	Dec. 20, 2013	Oct. 31, 2013	Sep. 30, 2013	Sep. 30, 2013
		Regions Bank [Member]	Revolving Credit Facility [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	LIBOR [Member]	LIBOR [Member]
			Regions Bank [Member]		Revolving Credit Facility [Member]	Revolving Credit Facility [Member]	Minimum [Member]	Maximum [Member]
					Regions Bank [Member]	Regions Bank [Member]	Regions Bank [Member]	Regions Bank [Member]
Line of Credit Facility [Line Items]	'	'	'	'	'	'	'	'
Maximum borrowing capacity	'	'	$200,000,000	'	'	'	'	'
Credit Facility borrowing base	'	'	75,000,000	'	'	83,000,000	'	'
Percentage of outstanding principal, repayment is contingent upon	'	'	'	'	'	50.00%	'	'
Contingent borrowing capacity reduction, percentage	'	'	'	25.00%	'	'	'	'
Minimum outstanding balance where reduction in borrowing base may occur	'	'	'	'	48,000,000	'	'	'
Amount allowed for payment of debt and dividends	5,500,000	'	'	'	'	'	'	'
Balance outstanding on the Credit Facility	'	'	$17,000,000	'	'	'	'	'
Debt instrument, interest rate, effective (as a percent)	'	'	2.70%	'	'	'	'	'
Basis spread on LIBOR (as a percent)	'	'	'	'	'	'	2.50%	3.00%
Unused capacity, commitment fee (as a percent)	'	0.50%	'	'	'	'	'	'

Borrowings_13_Senior_Notes_due

Borrowings (13% Senior Notes due 2016 (bSenior Notesb) and Deferred Credit) (Details) (USD $)	9 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Sep. 30, 2013	Nov. 30, 2009
				Senior Notes [Member]	Senior Notes [Member]
				13% Senior Notes due 2016 [Member]	13% Senior Notes due 2016 [Member]
Debt Instrument [Line Items]	'	'	'	'	'
Debt instrument, interest rate, stated (as a percent)	'	'	'	13.00%	'
Subsidary guarantor owned (as a percent)	'	'	'	100.00%	'
Gross Carrying Amount	'	'	'	'	$31,507
Debt instrument, interest rate, effective (as a percent)	'	'	'	8.50%	'
Accumulated Amortization	20,248	'	17,800	20,248	'
Carrying Value	'	'	'	11,259	'
Amortization Recorded during Current Year as a Reduction of Interest Expense	2,448	2,304	'	2,448	'
Estimated Amortization Expected to be Recorded during the Remainder of 2012	'	'	'	$851	'

Derivative_Instruments_and_Hed2

Derivative Instruments and Hedging Activities (Derivative Positions and Settlements) (Details) (Not Designated as Hedging Instrument [Member], Commodity Contract [Member])	Sep. 30, 2013
Natural gas [Member] | Fixed-Price Swap per Instrument of 3 Point 52 Dollars [Member]	'
Derivative [Line Items]	'
Average Notional Volumes per Month	91,000
Fixed-Price Swap	3.52
Natural gas [Member] | Average Floor Price per Instrument of $3.00 [Member]	'
Derivative [Line Items]	'
Average Notional Volumes per Month	91,000
Put/Call Price	3
Natural gas [Member] | Average Ceiling Price per Instrument of $4.75 [Member]	'
Derivative [Line Items]	'
Average Notional Volumes per Month	38,000
Put/Call Price	4.75
Crude Oil [Member] | Derivative Average Floor Price per Instrument of 101 Point 30 Dollars and Average Ceiling Price per Instrument of 101 Point 30 Dollars [Member]	'
Derivative [Line Items]	'
Average Notional Volumes per Month	40,000
Fixed-Price Swap	101.3
Crude Oil [Member] | Derivative Average Floor Price per Instrument of 102 Point 08 Dollars And Average Ceiling Price Per Instrument Of 102 Point 08 Dollars [Member]	'
Derivative [Line Items]	'
Average Notional Volumes per Month	18,000
Fixed-Price Swap	102.08
Crude Oil [Member] | Derivative Average Floor Price per Instrument of 93 Point 35 Dollars and Average Ceiling Price per Instrument of 93 Point 35 Dollars [Member]	'
Derivative [Line Items]	'
Average Notional Volumes per Month	30,000
Fixed-Price Swap	93.35
Crude Oil [Member] | Average Floor Price per Instrument of $70 [Member]	'
Derivative [Line Items]	'
Average Notional Volumes per Month	30,000
Put/Call Price	70
Crude Oil [Member] | Derivative Average Floor Price Per Instrument Of 94 Point 58 Dollars And Average Ceiling Price Per Instrument Of 94 Point 58 Dollars [Member]	'
Derivative [Line Items]	'
Average Notional Volumes per Month	9,000
Fixed-Price Swap	94.58

Derivative_Instruments_and_Hed3

Derivative Instruments and Hedging Activities (Derivatives Fair Value By Balance Sheet Location) (Details) (Not Designated as Hedging Instrument [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Derivative [Line Items]	'	'
Derivative Asset, Fair Value, Net	$36	$1,924
Derivative Liability, Fair Value, Net	-1,157	-241
Derivative, Fair Value, Net	-1,121	1,683
Natural gas [Member] | Current Liabilities - Fair Market Value of Derivatives [Member]	'	'
Derivative [Line Items]	'	'
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Liability, Fair Value, Gross Liability	-45	-125
Derivative Assets (Liability), Fair Value, Gross Liability Net	-45	-125
Natural gas [Member] | Non-current liabilities - Other long-term liabilities [Member]	'	'
Derivative [Line Items]	'	'
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Liability, Fair Value, Gross Liability	-18	-116
Derivative Assets (Liability), Fair Value, Gross Liability Net	-18	-116
Crude oil [Member] | Current assets - Fair market value of derivatives [Member]	'	'
Derivative [Line Items]	'	'
Derivative Asset, Fair Value, Gross Asset	0	1,674
Derivative Liability, Fair Value, Gross Asset	-1,094	0
Derivative Assets (Liability), Fair Value, Gross Asset Net	-1,094	1,674
Crude oil [Member] | Noncurrent Assets - Other Long-Term Assets [Member]	'	'
Derivative [Line Items]	'	'
Derivative Asset, Fair Value, Gross Asset	36	250
Derivative Liability, Fair Value, Gross Asset	0	0
Derivative Assets (Liability), Fair Value, Gross Asset Net	$36	$250

Derivative_Instruments_and_Hed4

Derivative Instruments and Hedging Activities (Potential Impact of Rights of Offset Associated with Recognized Assets and Liabilities) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Offsetting Assets and Liabilities [Line Items]	'	'
Derivative Assets, Current	$0	$1,674
Current assets: Fair value of hedging contracts [Member] | Hedging Contracts [Member]	'	'
Offsetting Assets and Liabilities [Line Items]	'	'
Derivative Asset, Fair Value, Gross Asset	96	'
Derivative Asset, Collateral, Obligation to Return Cash, Offset	-96	'
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	'
Long-term assets: Fair value of hedging contracts [Member] | Hedging Contracts [Member]	'	'
Offsetting Assets and Liabilities [Line Items]	'	'
Derivative Asset, Fair Value, Gross Asset	155	'
Derivative Asset, Collateral, Obligation to Return Cash, Offset	-119	'
Derivative Asset, Fair Value, Amount Offset Against Collateral	36	'
Current liabilities: Fair value of hedging contracts [Member] | Hedging Contracts [Member]	'	'
Offsetting Assets and Liabilities [Line Items]	'	'
Derivative Liability, Fair Value, Gross Liability	-1,235	'
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	96	'
Derivative Liability, Fair Value, Amount Offset Against Collateral	-1,139	'
Long-term liabilities: Fair value of hedging contracts [Member] | Hedging Contracts [Member]	'	'
Offsetting Assets and Liabilities [Line Items]	'	'
Derivative Liability, Fair Value, Gross Liability	-137	'
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	119	'
Derivative Liability, Fair Value, Amount Offset Against Collateral	($18)	'

Derivative_Instruments_and_Hed5

Derivative Instruments and Hedging Activities (Derivatives Designated as Hedging Instruments/ Derivatives Not Designated as Hedging Instruments) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Unrealized gain (loss), net	'	'	($2,929)	$2,017
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Amount of gain (loss) reclassified from OCI into income (effective portion)	0	260	0	772
Amount of gain (loss) recognized in income (ineffective portion and amount excluded from effectiveness testing)	0	-282	0	40
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Unrealized gain (loss), net	-3,686	-1,598	-2,123	1,977
Commodity Contract [Member] | Natural gas [Member] | Not Designated as Hedging Instrument [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Realized gain (loss), net	-16	0	-123	0
Total gain (loss), net	65	-205	55	-536
Unrealized gain (loss), net	81	-205	178	-536
Commodity Contract [Member] | Crude Oil [Member] | Not Designated as Hedging Instrument [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Realized gain (loss), net	-618	0	804	'
Total gain (loss), net	-3,751	-1,393	-2,178	2,513
Unrealized gain (loss), net	($3,133)	($1,393)	($2,982)	$2,513

Fair_Value_Measurements_Fair_V

Fair Value Measurements (Fair Value of Financial Instruments) (Details) (USD $)	Sep. 30, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
13% Senior Notes due 2016 unamortized deferred credit	$11,259		$13,707
Senior notes principal outstanding	96,961		96,961
Senior Notes [Member] | 13% Senior Notes due 2016 [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
13% Senior Notes due 2016 unamortized deferred credit	11,259		13,707
Senior notes principal outstanding	96,961		96,961
Carrying (Reported) Amount, Fair Value Disclosure [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Total	125,220		120,668
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Revolving Credit Facility [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Credit Facility	17,000		10,000
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Senior Notes [Member] | 13% Senior Notes due 2016 [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
13% Senior Notes due 2016	108,220		110,668
Estimate of Fair Value, Fair Value Disclosure [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Total	117,718		110,112
Estimate of Fair Value, Fair Value Disclosure [Member] | Revolving Credit Facility [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Credit Facility	17,000		10,000
Estimate of Fair Value, Fair Value Disclosure [Member] | Senior Notes [Member] | 13% Senior Notes due 2016 [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
13% Senior Notes due 2016	$100,718	[1]	$100,112	[1]
[1]	Fair value is calculated only in relation to the $96,961 principal outstanding of the Senior Notes at each of the dates indicated above, respectively.B The remaining $11,259 and $13,707, respectively, which the Company has recorded as a deferred credit, is excluded from the fair value calculation, and will be recognized in earnings as a reduction of interest expense over the remaining amortization period.B See Note 4 for additional information.

Fair_Value_Measurements_Fair_V1

Fair Value Measurements (Fair Value of Liabilities Measured on Recurring Basis) (Details) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

In Thousands, unless otherwise specified

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a nonrecurring basis [Member]

Current assets - Fair market value of derivatives [Member]

Current assets - Fair market value of derivatives [Member]

Current assets - Fair market value of derivatives [Member]

Current assets - Fair market value of derivatives [Member]

Current assets - Fair market value of derivatives [Member]

Current assets - Fair market value of derivatives [Member]

Current assets - Fair market value of derivatives [Member]

Current assets - Fair market value of derivatives [Member]

Other long-term assets [Member]

Other long-term assets [Member]

Other long-term assets [Member]

Other long-term assets [Member]

Other long-term assets [Member]

Other long-term assets [Member]

Other long-term assets [Member]

Other long-term assets [Member]

Current Liabilities - Fair Market Value of Derivatives [Member]

Current Liabilities - Fair Market Value of Derivatives [Member]

Current Liabilities - Fair Market Value of Derivatives [Member]

Current Liabilities - Fair Market Value of Derivatives [Member]

Current Liabilities - Fair Market Value of Derivatives [Member]

Current Liabilities - Fair Market Value of Derivatives [Member]

Current Liabilities - Fair Market Value of Derivatives [Member]

Current Liabilities - Fair Market Value of Derivatives [Member]

Other long-term liabilities [Member]

Other long-term liabilities [Member]

Other long-term liabilities [Member]

Other long-term liabilities [Member]

Other long-term liabilities [Member]

Other long-term liabilities [Member]

Level 1 [Member]

Level 1 [Member]

Level 2 [Member]

Level 2 [Member]

Level 3 [Member]

Level 3 [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

Level 3 [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Fair Value on a recurring basis [Member]

Level 1 [Member]

Level 1 [Member]

Level 2 [Member]

Level 2 [Member]

Level 3 [Member]

Level 3 [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

Level 1 [Member]

Level 1 [Member]

Level 2 [Member]

Level 2 [Member]

Level 3 [Member]

Level 3 [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

Level 1 [Member]

Level 1 [Member]

Level 2 [Member]

Level 2 [Member]

Level 3 [Member]

Level 3 [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

Level 1 [Member]

Level 2 [Member]

Level 2 [Member]

Level 3 [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

Derivative Assets

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Assets, Current

$0

$1,674

'

'

'

'

'

'

'

'

'

$0

$0

$0

$1,674

$0

$0

$0

$1,674

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Assets, Noncurrent

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

0

36

250

0

0

36

250

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Assets

'

'

0

0

36

1,924

0

0

36

1,924

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Liabilities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Liabilities, Current

1,139

125

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

0

1,139

125

0

0

1,139

125

'

'

'

'

'

'

Derivative Liabilities, Noncurrent

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

18

116

0

18

116

Derivative Liabilities

'

'

0

0

1,157

241

0

0

1,157

241

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Assets (Liabilities), at Fair Value, Net

'

'

0

0

-1,121

1,683

0

0

-1,121

1,683

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Asset Retirement Obligation, Fair Value Disclosure

'

'

'

'

'

'

'

'

'

'

$0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'	'	'
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	'	'	35.00%
Effective tax rate (as a percent)	48.00%	33.00%	'

Asset_Retirement_Obligations_D

Asset Retirement Obligations (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012	Oct. 17, 2013
			Medusa Fields, Medusa Spar LLC, And Gulf Of Mexico Shelf Properties [Member]
			Subsequent Event [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]	'	'	'
Asset retirement obligations, Beginning of period	$13,301	'	'
Accretion expense	1,556	'	'
Liabilities incurred	624	'	'
Liabilities settled	-497	'	'
Revisions to estimate	-3,477	'	'
Asset retirement obligations, End of period	11,507	'	'
Less: current asset retirement obligations	6,002	2,336	'
Long-term asset retirement obligations at September 30, 2013	5,505	10,965	'
Restricted Investments	'	'	'
Restricted investments	3,800	3,798	'
Subsequent Event [Line Items]	'	'	'
Liabilities settled due to sale of business	'	'	$4,500

Equity_Transactions_Details

Equity Transactions (Details) (USD $)	3 Months Ended	9 Months Ended			0 Months Ended	1 Months Ended	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	30-May-13	Jun. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
					Series A Preferred Stock	Series A Preferred Stock	Series A Preferred Stock	Maximum [Member]
Class of Stock [Line Items]	'	'	'	'	'	'	'	'
Preferred stock issued	$16	$16	'	$0	$75,000	'	'	'
Preferred stock, dividend rate	'	'	'	'	10.00%	'	'	'
Proceeds from issuance of preferred stock	'	70,035	0	'	70,000	'	'	'
Preferred stock, shares issued	1,578,948	1,578,948	'	0	1,600,000	'	'	'
Preferred stock, par value	$0.01	$0.01	'	$0.01	$0.01	'	'	'
Share price	'	'	'	'	$47.50	'	'	'
Preferred stock, liquidation preference per share	$50	$50	'	$50	$50	'	'	'
Preferred stock, dividend rate, per share	'	'	'	'	$5	'	'	'
Preferred stock, dividends paid, per share	'	'	'	'	'	$0.43	$1.25	'
Dividends paid	$1,974	$2,654	'	'	'	$680	'	'
Common stock, shares authorized	60,000,000	60,000,000	'	60,000,000	'	'	'	'
Common stock, capital shares reserved for future issuance	16,800,000	16,800,000	'	'	'	'	'	42,200,000