Callon Petroleum (CPE) 10-Q 6 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 31, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'CALLON PETROLEUM CO	'
Entity Central Index Key	'0000928022	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	55,225,288

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$7,193	$3,012
Accounts receivable	27,923	20,586
Deferred tax asset	3,321	3,843
Fair value of derivatives	4,842	60
Other current assets	1,260	2,063
Total current assets	44,539	29,564
Oil and natural gas properties, full-cost accounting method:	'	'
Evaluated properties	1,894,803	1,701,577
Less accumulated depreciation, depletion and amortization	-1,460,271	-1,420,612
Net oil and natural gas properties	434,532	280,965
Unevaluated properties	40,445	43,222
Total oil and natural gas properties	474,977	324,187
Other property and equipment, net	7,033	7,255
Restricted investments	3,802	3,806
Deferred tax asset	45,952	57,765
Acquisition deposit	10,629	'
Other assets, net	5,294	1,376
Total assets	592,226	423,953
Current liabilities:	'	'
Accounts payable and accrued liabilities	50,491	53,464
Market-based restricted stock unit awards	5,668	4,173
Asset retirement obligations	5,138	4,120
Fair market value of derivatives	465	1,036
Total current liabilities	61,762	62,793
13% Senior Notes:	'	'
long term debt	102,500	70,481
Total 13% Senior Notes	'	53,748
Asset retirement obligations	1,281	2,612
Market-based restricted stock unit awards	9,841	3,409
Other long-term liabilities	1,091	297
Total liabilities	176,475	144,859
Stockholders' equity:	'	'
Preferred stock, series A cumulative, $0.01 par value and $50.00 liquidation preference, 2,500,000 shares authorized: 1,578,948 and 1,578,948 shares outstanding, respectively	16	16
Common stock, $0.01 par value, 110,000,000 and 60,000,000 shares authorized; 55,218,827 and 40,345,456 shares outstanding, respectively	552	404
Capital in excess of par value	525,166	401,540
Accumulated deficit	-109,983	-122,866
Total stockholders' equity	415,751	279,094
Total liabilities and stockholders' equity	592,226	423,953
13% Senior Notes due 2016 [Member]	'	'
13% Senior Notes:	'	'
long term debt	'	48,481
Deferred credit, net of accumulated amortization of $0 and $26,239, respectively	'	5,267
Senior Secured Revolving Credit Facility [Member]	'	'
13% Senior Notes:	'	'
Credit facility	20,000	22,000
Secured second lien term loan [Member]	'	'
13% Senior Notes:	'	'
long term debt	$82,500	'

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Accumulated amortization of deferred credit	$0	$26,239
Stockholders' equity:	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	110,000,000	60,000,000
Common stock, shares outstanding	55,218,827	40,345,456
Series A Preferred Stock [Member]	'	'
Stockholders' equity:	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, liquidation preference (in dollars per share)	$50	$50
Preferred stock, shares authorized	2,500,000	2,500,000
Preferred stock, shares outstanding	1,578,948	1,578,948

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, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Operating revenues:	'	'	'	'
Total operating revenues	$39,657	$30,797	$113,444	$76,098
Operating expenses:	'	'	'	'
Lease operating expenses	6,270	5,270	14,863	16,412
Production taxes	2,247	991	6,429	2,217
Depreciation, depletion and amortization	16,115	11,907	38,635	33,603
General and administrative	3,261	5,826	23,707	14,110
Accretion expense	202	458	603	1,556
Gain on sale of other property and equipment	'	'	-1,080	'
Total operating expenses	28,095	24,452	83,157	67,898
Income from operations	11,562	6,345	30,287	8,200
Other (income) expenses:	'	'	'	'
Interest expense	2,205	1,417	5,007	4,469
Gain on early extinguishment of debt	'	'	-3,205	'
(Gain) loss on derivative contracts	-9,944	3,686	-2,746	2,123
Other (income) expense	-61	-279	-203	-368
Total other (income) expenses	-7,800	4,824	-1,147	6,224
Income before income taxes	19,362	1,521	31,434	1,976
Income tax expense	7,161	456	12,630	950
Income before equity in earnings of Medusa Spar LLC	12,201	1,065	18,804	1,026
Loss from Medusa Spar LLC	'	17	'	14
Net income	12,201	1,082	18,804	1,040
Preferred stock dividends	-1,974	-1,974	-5,921	-2,654
Income (loss) available to common shareholders	10,227	-892	12,883	-1,614
income (loss) per common share:	'	'	'	'
Basic	$0.24	($0.02)	$0.31	($0.04)
Diluted	$0.23	($0.02)	$0.30	($0.04)
Shares used in computing income per common share:	'	'	'	'
Basic	43,187	40,321	41,370	40,064
Diluted	44,211	40,321	42,510	40,064
Crude Oil [Member]	'	'	'	'
Operating revenues:	'	'	'	'
Total operating revenues	36,346	27,014	104,965	65,615
Natural Gas [Member]	'	'	'	'
Operating revenues:	'	'	'	'
Total operating revenues	$3,311	$3,783	$8,479	$10,483

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net income	$18,804	$1,040
Adjustments to reconcile net income to cash provided by operating activities:	'	'
Depreciation, depletion and amortization	39,493	34,668
Accretion expense	603	1,556
Amortization of non-cash debt related items	494	348
Amortization of deferred credit	-433	-2,448
Equity in earnings of Medusa Spar LLC	'	-14
Deferred income tax expense	12,630	950
Net loss (gain) on derivatives, net of settlements	-5,728	2,929
Gain on sale of other property and equipment	-1,080	'
Non-cash gain on early debt extinguishment	-3,205	'
Non-cash expense related to equity share-based awards	432	1,335
Change in the fair value of liability share-based awards	6,571	1,076
Payments to settle asset retirement obligations	-3,283	-701
Changes in current assets and liabilities:	'	'
Accounts receivable	-8,016	-3,455
Other current assets	802	-236
Current liabilities	3,449	1,969
Payments to settle vested liability share-based awards	-3,469	-239
Change in other long-term liabilities	'	-258
Change in other assets, net	-367	-3,306
Net cash provided by operating activities	57,697	35,214
Cash flows from investing activities:	'	'
Capital expenditures	-188,793	-101,067
Acquisition	'	-11,000
Deposit on acquisition	-10,629	'
Proceeds from sale of mineral interests and equipment	1,991	1,389
Distribution from Medusa Spar LLC	'	813
Net cash used in investing activities	-197,431	-109,865
Cash flows from financing activities:	'	'
Borrowings on debt	200,000	48,000
Payment of deferred financing costs	-3,068	'
Payments on debt	-169,610	-41,000
Issuance of preferred stock	'	70,035
Issuance of common stock	122,514	'
Payment of preferred stock dividends	-5,921	-2,654
Cash flows from financing activities:	143,915	74,381
Net change in cash and cash equivalents	4,181	-270
Balance, beginning of period	3,012	1,139
Balance, end of period	$7,193	$869

Description_of_Business_and_Ba

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Description of Business and Basis of Presentation	'
	Note 1 - Description of Business and Basis of Presentation
	Description of business
	Callon Petroleum Company is an independent oil and natural gas company established in 1950. The Company was incorporated under the laws of the state of Delaware in 1994 and succeeded to the business of a publicly traded limited partnership, a joint venture with a consortium of European investors and an independent energy company partially owned by a member of current management. As used herein, the “Company,” “Callon,” “we,” “us,” and “our” refer to Callon Petroleum Company and its predecessors and subsidiaries unless the context requires otherwise.
	Callon is focused on the acquisition, development, exploration and exploitation of unconventional oil and natural gas reserves in the Permian Basin in West Texas. In late 2013, with the sale of its remaining offshore assets in the Gulf of Mexico, the Company completed the onshore strategic repositioning it initiated in 2009.
	Basis of presentation
	Unless otherwise indicated, all dollar amounts included within the footnotes to the financial statements are presented in thousands, except for per share and per unit data.
	The interim consolidated financial statements of the Company have been prepared in accordance with (1) GAAP, (2) the SEC’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, 2013. The balance sheet at December 31, 2013 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, 2014.
	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 conform to presentation in the current period. Certain prior year amounts have been reclassified to conform to current year presentation.
	Recently issued accounting policies
	In May 2014, the Financial Accounting Standards Board issued accounting standards update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. The standard requires an entity to recognize revenue in a manner that depicts the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU No. 2014-09 will replace most of the existing revenue recognition requirements in GAAP when it becomes effective. The guidance in ASU No. 2014-09 is effective for public entities for annual reporting periods beginning after December 15, 2016, including interim periods therein. Early adoption is not permitted.  The Company is currently evaluating the method of adoption and impact this standard will have on its financial statements and related disclosures.

Oil_and_Natural_Gas_Properties

Oil and Natural Gas Properties	9 Months Ended
	Sep. 30, 2014
Properties Acquisitions and Other Disclosure [Abstract]	'
Oil and Natural Gas Properties	'
	Note 2 – Oil and Natural Gas Properties
	Acquisitions
	In the first quarter of 2014, the Company acquired 1,527 net acres in Upton and Reagan Counties, Texas, which are located in the southern portion of the Midland Basin near its existing core development fields, for an aggregate cash purchase price of $8,200. The properties bear a working interest of 100% and an average net revenue interest of 78%.
	On October 8, 2014, the Company completed the acquisition of certain undeveloped acreage and producing oil and gas properties located in Midland, Andrews, Ector and Martin Counties, Texas (the “Acquisition”) for an aggregate cash purchase price of $205,011, including estimated purchase price adjustments of $7,561 based on an effective date of May 1, 2014. The Company assumed operatorship of the properties on November 1, 2014, and acquired a 62% working interest (46.5% net revenue interest) in the Acquisition. The aggregate cash purchase price was funded with a combination of the net proceeds from an equity offering of $122,514 and a portion of the proceeds from borrowings under a new $300,000 secured second lien term loan (the “New Second Lien Loan”). For additional information on the debt transactions and equity offering, see Notes 4 and 9, respectively.
	The Acquisition was accounted for under the purchase method of accounting, which involves determining the fair value of the assets acquired and liabilities assumed. The following purchase price allocation is preliminary and based on management’s estimates of the fair value of the assets acquired and liabilities assumed as of the date of this Form 10-Q. The preliminary purchase price allocation is subject to change based on numerous factors, including the final adjusted purchase price and the final estimated fair value of the assets acquired and liabilities assumed. Any such adjustments to the preliminary estimates of fair value could be material.
	The following table summarizes the estimated acquisition date fair values of the net assets acquired:
	Oil and natural gas properties	$	92,847
	Unevaluated oil and natural gas properties		113,092
	Asset retirement obligations		-928
	Net assets to be acquired	$	205,011
	The following unaudited summary pro forma financial information for the three and nine month periods ended September 30, 2014 has been presented for illustrative purposes only and does not purport to represent what the Company’s results of operations would have been if the Acquisition had occurred as presented, or to project the Company’s results of operations for any future periods. The pro forma financial information was prepared assuming the Acquisition and the debt transactions and equity offering discussed in Notes 4 and 9, respectively, occurred as of January 1, 2013. The pro forma adjustments are based on available information and certain assumptions that management believes are reasonable, including revenue, lease operating expenses, production taxes, depreciation, depletion and amortization expense, accretion expense, interest expense and capitalized interest.
		Three Months Ended September 30,				Nine Months Ended September 30,
		2014		2013		2014		2013
	Revenues	$	48,035	$	43,253	$	142,040	$	114,078
	Income from operations		15,269		13,721		45,453		28,481
	Income available to common stockholders		11,102		766		16,571		2,477
	Net income per common share:
	Basic	$	0.19	$	0.01	$	0.30	$	0.05
	Diluted	$	0.19	$	0.01	$	0.29	$	0.05

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Note 3 - Earnings Per Share
	The following table sets forth the computation of basic and diluted earnings per share:
	(share amounts in thousands)	Three Months Ended September 30,				Nine Months Ended September 30,
			2014		2013		2014		2013
	Net income (loss)	$	12,201	$	1,082	$	18,804	$	1,040
	Preferred stock dividends		-1,974		-1,974		-5,921		-2,654
	Income (loss) available to common stockholders	$	10,227	$	-892	$	12,883	$	-1,614
	Weighted average shares outstanding		43,187		40,321		41,370		40,064
	Dilutive impact of restricted stock		1,024		—		1,140		—
	Weighted average shares outstanding for diluted income (loss) per share		44,211		40,321		42,510		40,064
	Basic income (loss) per share	$	0.24	$	-0.02	$	0.31	$	-0.04
	Diluted income (loss) per share	$	0.23	$	-0.02	$	0.30	$	-0.04
	The following were excluded from the diluted earnings per share calculation because their effect would be anti-dilutive:
	Stock options		30		52		30		52
	Restricted stock		—		239		—		239

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Borrowings	'
	Note 4 – Borrowings
	The Company’s borrowings consisted of the following at:
		30-Sep-14		31-Dec-13
	Principal components:
	Credit Facility	$	20,000	$	22,000
	Second Lien Loan		82,500		—
	13% Senior Notes, principal		—		48,481
	Total principal outstanding		102,500		70,481
	13% Senior Notes, unamortized deferred credit		—		5,267
	Total carrying value of borrowings	$	102,500	$	75,748
	Senior secured revolving credit facility (the “Credit Facility”)
	On March 11, 2014, the Company entered into the Fifth Amended and Restated Credit Agreement to the Credit Facility with a maturity date of March 11, 2019.  JPMorgan Chase Bank, N.A. is Administrative Agent, and participating lenders include Regions Bank, Citibank, N.A., Capital One, N.A., KeyBank, N.A., Whitney Bank, IberiaBank, N.A., OneWest Bank, N.A., SunTrust Bank and Royal Bank of Canada. The total notional amount available under the Credit Facility is $500,000. Amounts borrowed under the Credit Facility may not exceed the borrowing base, which is generally reviewed on a semi-annual basis. As of September 30, 2014 the Credit Facility’s borrowing base was $155,000. The Credit Facility is secured by first preferred mortgages covering the Company’s major producing properties. In conjunction with the closing of the Acquisition on October 8, 2014, the borrowing base on the Company’s Credit Facility was amended to $250,000.
	As of September 30, 2014, the balance outstanding on the Credit Facility was $20,000 with a weighted-average interest rate of 2.43%, calculated as the LIBOR plus a tiered rate ranging from 1.75% to 2.75%, which is determined based on utilization of the facility. In addition, the Credit Facility carries a commitment fee of 0.5% per annum, payable quarterly, on the unused portion of the borrowing base.
	Term loans
	On March 11, 2014, the Company entered into the Secured Second Lien Term Loan (the “Second Lien Loan”) in an aggregate amount of up to $125,000, including initial commitments of $100,000 and additional availability of $25,000 subject to the consent of two-thirds of the lenders and compliance with financial covenants after giving effect to such increase. The Second Lien Loan matures on September 11, 2019, and is not subject to mandatory prepayments unless new debt or preferred stock is issued. The Second Lien Loan may be prepaid at the Company’s option, subject to a prepayment premium. The prepayment amount is (i) 102% if the prepayment event occurs prior to March 11, 2015, and (ii) 101% if the prepayment event occurs on or after March 15, 2015 but before March 15, 2016, and (iii) 100% for prepayments made on or after March 15, 2016. The Second Lien Loan is secured by junior liens on properties mortgaged under the Credit Facility, subject to an intercreditor agreement. On April 10, 2014, the Company drew an initial amount of $62,500 with an original issue discount of 1.0%. In addition, the Second Lien Loan carries a commitment fee of 0.5% per annum, payable quarterly, on the unused portion of the initial commitment amount until March 11, 2015. As of September 30, 2014, the balance outstanding on the Second Lien Loan was $82,500 with an interest rate of 8.75%, calculated at a rate of LIBOR (subject to a floor rate of 1.0%) plus 7.75% per annum.
	Subsequent to September 30, 2014, the Second Lien Loan was repaid in full using proceeds from the New Second Lien Loan discussed below, resulting in a loss on early extinguishment of debt of $3,054. In conjunction with the closing of the Acquisition on October 8, 2014, the Company refinanced its Second Lien Loan with the New Second Lien Loan with a maturity date of October 8, 2021. The Royal Bank of Canada is Administrative Agent, and participants include several institutional lenders. On October 8, 2014, the Company drew an initial amount of $300,000 with a discount of 2.0% and an interest rate of 8.5%, calculated at a rate of LIBOR (subject to a floor rate of 1.0%) plus 7.5% per annum. The New Second Lien Loan may be prepaid at the Company’s option, subject to a prepayment premium. The prepayment amount is (i) 102% if the prepayment event occurs prior to October 8, 2015, and (ii) 101% if the prepayment event occurs on or after October 8, 2015 but before October 8, 2016, and (iii) 100% for prepayments made on or after October 8, 2016. The New Second Lien Loan is secured by junior liens on properties mortgaged under the Credit Facility, subject to an intercreditor agreement.
	13% senior notes due 2016 (“Senior Notes”) and deferred credit
	On April 11, 2014, the Company completed a full redemption of the remaining $48,481 principal amount of outstanding Senior Notes using proceeds from the Second Lien Loan. The redemption resulted in a net $3,205 gain on the early extinguishment of debt (including $4,780 of accelerated deferred credit amortization). The gain represents the difference between the $50,057 paid for the redemption of the Senior Notes ($1,576 of redemption costs, primarily the call premium) and the carrying value of the remaining Senior Notes of $53,261 (inclusive of $4,780 of deferred credit). The Company also paid $193 in accrued interest through the redemption date. Upon the redemption, the indenture governing the Senior Notes was discharged in accordance with its terms.
	Restrictive covenants
	The Company’s Credit Facility and Second Lien Loan contain various covenants including restrictions on additional indebtedness, payment of cash dividends and maintenance of certain financial ratios. The Company was in compliance with these covenants at September 30, 2014.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivative Instruments and Hedging Activities	'
	Note 5 - Derivative Instruments and Hedging Activities
	Objectives and strategies for using derivative instruments
	The Company is exposed to fluctuations in oil and natural gas prices received for its production. Consequently, the Company believes it is prudent to manage the variability in cash flows on a portion of its oil and natural gas production. The Company utilizes a mix of collars, swaps, puts, calls and similar derivative financial instruments to manage fluctuations in cash flows resulting from changes in commodity prices. The Company does not use these instruments for speculative or trading purposes.
	Counterparty risk and offsetting
	The use of derivative instruments exposes the Company to the risk that a counterparty will be unable to meet its commitments. 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 while continuing to be obligated under higher commodity price contracts subject to any right of offset under the agreements. Counterparty credit risk is considered when determining the fair value of a derivative instrument; see Note 6 for additional information regarding fair value.
	The Company executes commodity derivative contracts 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
	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 benchmark price, such as the NYMEX price. To determine the fair value of the Company’s derivative instruments, the Company utilizes present value methods that include assumptions about commodity prices based on those observed in underlying markets. See Note 6 for additional information regarding fair value.
	Derivatives not designated as hedging instruments
	The Company elected not to designate its derivative contracts as accounting hedges under Accounting Standards Codification 815. Consequently, the Company records its derivative contracts at fair value in the consolidated balance sheet and records changes in fair value as a gain or loss on derivative contracts in the consolidated statement of operations. Cash settlements are also recorded as gain or loss on derivative contracts in the consolidated statement of operations.
	The following table reflects the fair value of the Company’s derivative instruments for the periods presented:
			Balance Sheet Presentation				Asset Fair Value						Liability Fair Value					Net Derivative Fair Value
	Commodity		Classification		Line Description		9/30/14			12/31/13			9/30/14			12/31/13		9/30/14		12/31/13
	Natural gas		Current		Fair value of derivatives		$	—		$	—		$	-47		$	—	$	-47	$	—
	Natural gas		Current		Fair value of derivatives			—			60			—			—		—		60
	Natural gas		Non-current		Other long-term liabilities			—			—			-41			-72		-41		-72
	Oil		Current		Fair value of derivatives			4,842			—			-418			-1,036		4,424		-1,036
	Oil		Non-current		Other long-term assets			1,169			—			—			—		1,169		—
	Oil		Non-current		Other long-term liabilities			—			—			-824			—		-824		—
			Totals				$	6,011		$	60		$	-1,330		$	-1,108	$	4,681	$	-1,048
	As previously discussed, the Company’s derivative contracts are subject to master netting arrangements. The Company’s policy is to present the fair value of derivative contracts on a net basis in the consolidated balance sheet. The following presents the impact of this presentation to the Company’s recognized assets and liabilities at September 30, 2014:
			Presented without						As Presented with
			Effects of Netting			Effects of Netting			Effects of Netting
	Current assets: Fair value of derivatives		$	4,968		$	-126		$	4,842
	Long-term assets: Fair value of derivatives			1,169			—			1,169
	Current liabilities: Fair value of derivatives		$	-591		$	126		$	-465
	Long-term liabilities: Fair value of derivatives			-865			—			-865
	For the periods indicated, the Company recorded the following related to its derivatives in the consolidated statement of operations as gain or loss on derivative contracts:
			Three Months Ended September 30,						Nine Months Ended September 30,
				2014			2013			2014			2013
	Natural gas derivatives
	Net gain (loss) on settlements		$	35		$	-16		$	-144		$	-123
	Net gain (loss) on fair value adjustments			55			81			-77			178
	Total gain (loss)		$	90		$	65		$	-221		$	55
	Oil derivatives
	Net gain (loss) on settlements		$	-497		$	-618		$	-2,838		$	804
	Net gain (loss) on fair value adjustments			10,351			-3,133			5,805			-2,982
	Total gain (loss)		$	9,854		$	-3,751		$	2,967		$	-2,178
	Total gain (loss) on derivative instruments		$	9,944		$	-3,686		$	2,746		$	-2,123
	Derivative positions
	Listed in the tables below are the outstanding oil and natural gas derivative contracts as of September 30, 2014:
			For the Three Months Ended
			December 31,			March 31,			June 30,			September 30,			December 31,
	Oil contracts		2014			2015			2015			2015			2015
	Collar contracts combined with short
	puts (three-way collar):
	Volume (MBbls)			—			158			159			—			—
	Price per Bbl
	Ceiling (short call)		$	—		$	99.10		$	99.10		$	—		$	—
	Floor (long put)		$	—		$	90.00		$	90.00		$	—		$	—
	Short put		$	—		$	75.00		$	75.00		$	—		$	—
	Swap contracts:
	Total volume (MBbls)			267			171			136			129			74
	Weighted average price per Bbl		$	93.66		$	92.25		$	92.18		$	92.25		$	92.20
	Put spreads:
	Volume (MBbls)			—			—			—			138			138
	Long put price per Bbl		$	—		$	—		$	—		$	90.00		$	90.00
	Short put price per Bbl		$	—		$	—		$	—		$	75.00		$	75.00
	Swap contracts combined with short put:
	Volume (MBbls)			92			—			—			—			—
	Swap price per Bbl		$	93.35		$	—		$	—		$	—		$	—
	Short put price per Bbl		$	70.00		$	—		$	—		$	—		$	—
			For the Three Months Ended
		December 31,			March 31,			June 30,			September 30,			December 31,
Natural gas contracts		2014			2015			2015			2015			2015
Collar contracts combined with short
puts (three-way collar):
Volume (BBtu)			—			248			227			207			161
Weighted average price per MMBtu
Ceiling (short call)		$	—		$	4.67		$	4.32		$	4.32		$	4.32
Floor (long put)		$	—		$	4.00		$	3.85		$	3.85		$	3.85
Short put		$	—		$	3.50		$	3.25		$	3.25		$	3.25
Swap contracts:
Total volume (BBtu)			414			248			227			207			161
Weighted average price per MMBtu		$	4.04		$	3.98		$	3.98		$	3.98		$	3.98
Call contracts:
Volume (BBtu)			115			—			—			—			—
Short call price per MMBtu (a)		$	4.75		$	—		$	—		$	—		$	—
Long call price per MMBtu (a)		$	4.75		$	—		$	—		$	—		$	—
Swap contracts combined with short calls:
Swap volume (BBtu)			184			—			—			—			—
Swap price per MMBtu		$	4.25		$	—		$	—		$	—		$	—
Short call volume (BBtu)			—			108			109			110			111
Short call price per MMBtu		$	—		$	5.00		$	5.00		$	5.00		$	5.00
	(a)		Offsetting contracts.
Subsequent Event
The following derivative contracts were executed subsequent to September 30, 2014:
					For the Three Months Ended
					March 31,			June 30,			September 30,			December 31,
Natural gas contracts					2015			2015			2015			2015
Swap contracts:
Total volume (BBtu)						23			10			12			67
Weighted average price per MMBtu					$	3.91		$	3.91		$	3.91		$	3.91

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Note 6 - 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, restricted 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 in the consolidated balance sheet. The carrying amount of floating-rate debt approximated fair value because the interest rates were variable and reflective of market rates.
	The following table summarizes the respective carrying and fair values at:
										`
			30-Sep-14						31-Dec-13
			Carrying Value			Fair Value				Carrying Value		Fair Value
	Credit Facility		$	20,000		$	20,000		$	22,000		$	22,000
	Second Lien Loan			82,500			82,500			—			—
	13% Senior Notes due 2016 (a)			—			—			53,748			50,299
	Total		$	102,500		$	102,500		$	75,748		$	72,299
		(a)		Fair value is calculated only in relation to the $48,481 principal outstanding of the Senior Notes at December 31, 2013 and excludes the remaining $5,267 deferred credit. The fair value of the Senior Notes, which is valued using Level 2 inputs, is based upon estimates provided by an independent investment banking firm. 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 in the consolidated balance sheet. The following methods and assumptions were used to estimate fair value:
	Commodity derivative instruments. The fair value of commodity derivative instruments is derived using an income approach valuation model that utilizes market-corroborated inputs that are observable over the term of the derivative contract. The Company’s fair value calculations 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:
	30-Sep-14		Balance Sheet Presentation			Level 1			Level 2			Level 3			Total
	Assets
	Derivative financial instruments (current)		Fair value of derivatives		$	—		$	4,842		$	—		$	4,842
	Derivative financial instruments (non-current)		Other long-term assets			—			1,169			—			1,169
	Sub-total assets				$	—		$	6,011		$	—		$	6,011
	Liabilities
	Derivative financial instruments (current)		Fair value of derivatives		$	—		$	-465		$	—		$	-465
	Derivative financial instruments (non-current)		Other long-term liabilities			—			-865			—			-865
	Sub-total liabilities				$	—		$	-1,330		$	—		$	-1,330
	Total net assets (liabilities)				$	—		$	4,681		$	—		$	4,681
	31-Dec-13		Balance Sheet Presentation			Level 1			Level 2			Level 3			Total
	Assets
	Derivative financial instruments (current)		Fair value of derivatives		$	—		$	60		$	—		$	60
	Derivative financial instruments (non-current)		Other long-term assets			—			—			—			—
	Sub-total assets				$	—		$	60		$	—		$	60
	Liabilities
	Derivative financial instruments (current)		Fair value of derivatives		$	—		$	-1,036		$	—		$	-1,036
	Derivative financial instruments (non-current)		Other long-term liabilities			—			-72			—			-72
	Sub-total liabilities				$	—		$	-1,108		$	—		$	-1,108
	Total net assets (liabilities)				$	—		$	-1,048		$	—		$	-1,048

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Note 7 - 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 non-deductible executive compensation expenses and state income taxes. The effective tax rate for the three months ended September 30, 2014 and 2013 was 37% and 30%, respectively. The effective tax rate for the nine months ended September 30, 2014 and 2013 was 40% and 48%, respectively.

Asset_Retirement_Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2014
Asset Retirement Obligation [Abstract]	'
Asset Retirement Obligations	'
	Note 8 - Asset Retirement Obligations
	The table below summarizes the Company’s asset retirement obligations activity for the nine months ended September 30, 2014:
	Asset retirement obligations at January 1, 2014	$	6,732
	Accretion expense		603
	Liabilities incurred		542
	Liabilities settled		-1,908
	Revisions to estimate		450
	Asset retirement obligations at end of period		6,419
	Less: Current asset retirement obligations		5,138
	Long-term asset retirement obligations at September 30, 2014	$	1,281
	Certain of the Company’s operating agreements require that assets be restricted for abandonment obligations. Amounts recorded in the consolidated balance sheets as restricted investments were $3,802 at September 30, 2014. 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 oil and natural gas properties.

Equity_Transactions

Equity Transactions	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Equity transactions	'
	Note 9 – Equity Transactions
	10% Series A Cumulative Preferred Stock (“Preferred Stock”)
	Holders of the Company’s Preferred Stock are entitled to receive, when, as and if declared by our Board of Directors, 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 of Directors. For the quarter ended September 30, 2014, the Board declared a dividend of $1.25 per share, or a total of $1,974, on the Company’s Preferred Stock. Dividends for the nine months ended September 30, 2014 were $5,921.
	The Preferred Stock has no stated maturity and is not be subject to any sinking fund or other mandatory redemption. On or after May 30, 2018, the Company may, at its option, redeem the Preferred Stock, in whole or in part, by paying $50.00 per share, plus any accrued and unpaid dividends to the redemption date.
	Following a change of control, the Company will have the option to redeem the Preferred Stock, in whole but not in part for $50.00 per share in cash, plus accrued and unpaid dividends (whether or not declared), to the redemption date. If the Company does not exercise its option to redeem the Preferred Stock upon a change of control, the holders of the Preferred Stock have the option to convert the Preferred Stock into a number of shares of the Company’s common stock based on the value of the common stock on the date of the change of control as determined under the certificate of designations for the Preferred Stock. If the change of control occurred on September 30, 2014, and the Company did not exercise its right to redeem the Preferred Stock, using the closing price of the common stock on such date ($8.81) as the value of a share of common stock, each share of Preferred Stock would be convertible into approximately 5.7 shares of common stock.  If the Company exercises its redemption rights relating to shares of Preferred Stock, the holders of Preferred Stock will not have the conversion right described above.
	Common Stock
	On September 15, 2014 the Company completed an underwritten public offering of 12,500,000 shares of its common stock at $9.00 per share, before underwriting discounts, and the exercise in full by the underwriters of their option to purchase 1,875,000 additional shares of common stock at $9.00 per share. The Company received net proceeds of approximately $122,514, after the underwriting discounts and estimated offering costs, which were used to fund a portion of the purchase price of the Acquisition (see Note 2).

Other

Other	9 Months Ended
	Sep. 30, 2014
Other [Abstract]	'
Other	'
	Note 10 – Other
	Operating leases
	In April 2012, the Company contracted a drilling rig (the “Cactus 1 Rig”) for a term of two years, which it subsequently renewed in March 2014 for an additional two-year term ending in April 2016. In April 2014, the Company contracted an additional horizontal drilling rig (the “Cactus 2 Rig”) for a term of two years ending in April 2016. The Cactus 2 Rig replaced a previously contracted horizontal drilling rig, which was cancelled in March 2014. In August 2014, the Company signed a one-year contract for a vertical drilling rig to be used as part of its horizontal drilling program, drilling the vertical section of horizontal wells. The rig lease agreements include early termination provisions that would reduce the minimum rentals under the agreement, and also include early termination payments that would be reduced assuming the lessor is able to re-charter the rig and staffing personnel to another lessee. Lease payments in 2014,  2015 and 2016 are expected to approximate $19,443 (with $6,256 remaining for the balance of 2014 at September 30, 2014), $23,164 and $4,795, respectively.
	Other property and equipment
	As disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, the Company made a decision to abandon certain specialized deep water property and equipment received as part of a prior settlement agreement related to various disputes with a previous joint interest partner as a result of the unsuccessful marketing of such assets. Accordingly, the Company recognized an impairment charge of $1,707 related to such property and equipment in the year ended December 31, 2013. Subsequent to the filing of the Annual Report on Form 10-K, the Company entered into an agreement to sell the property and equipment to a third party. While the third party had previously performed some initial inspection and evaluation of the equipment, based on the amount of time the equipment had been unsuccessfully marketed and the feedback from potential buyers, management concluded the likelihood of completing a sale of the equipment was low, resulting in the decision to abandon the equipment and recognize an impairment charge in 2013. As a result of the subsequent sale of the property and equipment, the Company recognized a gain of $1,080 in the first quarter 2014.

Oil_and_Natural_Gas_Properties1

Oil and Natural Gas Properties (Tables)	9 Months Ended
	Sep. 30, 2014
Oil and Natural Gas Properties [Abstract]	'
Fair Value of Net Assets Acquired	'
	Oil and natural gas properties	$	92,847
	Unevaluated oil and natural gas properties		113,092
	Asset retirement obligations		-928
	Net assets to be acquired	$	205,011
Unaudited Summary Pro Forma Financial Information	'
		Three Months Ended September 30,				Nine Months Ended September 30,
		2014		2013		2014		2013
	Revenues	$	48,035	$	43,253	$	142,040	$	114,078
	Income from operations		15,269		13,721		45,453		28,481
	Income available to common stockholders		11,102		766		16,571		2,477
	Net income per common share:
	Basic	$	0.19	$	0.01	$	0.30	$	0.05
	Diluted	$	0.19	$	0.01	$	0.29	$	0.05

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Computation of Earnings Per Share, Basic and Diluted	'
	(share amounts in thousands)	Three Months Ended September 30,				Nine Months Ended September 30,
			2014		2013		2014		2013
	Net income (loss)	$	12,201	$	1,082	$	18,804	$	1,040
	Preferred stock dividends		-1,974		-1,974		-5,921		-2,654
	Income (loss) available to common stockholders	$	10,227	$	-892	$	12,883	$	-1,614
	Weighted average shares outstanding		43,187		40,321		41,370		40,064
	Dilutive impact of restricted stock		1,024		—		1,140		—
	Weighted average shares outstanding for diluted income (loss) per share		44,211		40,321		42,510		40,064
	Basic income (loss) per share	$	0.24	$	-0.02	$	0.31	$	-0.04
	Diluted income (loss) per share	$	0.23	$	-0.02	$	0.30	$	-0.04
	The following were excluded from the diluted earnings per share calculation because their effect would be anti-dilutive:
	Stock options		30		52		30		52
	Restricted stock		—		239		—		239

Borrowings_Tables

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of Borrowings	'
		30-Sep-14		31-Dec-13
	Principal components:
	Credit Facility	$	20,000	$	22,000
	Second Lien Loan		82,500		—
	13% Senior Notes, principal		—		48,481
	Total principal outstanding		102,500		70,481
	13% Senior Notes, unamortized deferred credit		—		5,267
	Total carrying value of borrowings	$	102,500	$	75,748

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	'
	The following table reflects the fair value of the Company’s derivative instruments for the periods presented:
			Balance Sheet Presentation				Asset Fair Value						Liability Fair Value					Net Derivative Fair Value
	Commodity		Classification		Line Description		9/30/14			12/31/13			9/30/14			12/31/13		9/30/14		12/31/13
	Natural gas		Current		Fair value of derivatives		$	—		$	—		$	-47		$	—	$	-47	$	—
	Natural gas		Current		Fair value of derivatives			—			60			—			—		—		60
	Natural gas		Non-current		Other long-term liabilities			—			—			-41			-72		-41		-72
	Oil		Current		Fair value of derivatives			4,842			—			-418			-1,036		4,424		-1,036
	Oil		Non-current		Other long-term assets			1,169			—			—			—		1,169		—
	Oil		Non-current		Other long-term liabilities			—			—			-824			—		-824		—
			Totals				$	6,011		$	60		$	-1,330		$	-1,108	$	4,681	$	-1,048
	As previously discussed, the Company’s derivative contracts are subject to master netting arrangements. The Company’s policy is to present the fair value of derivative contracts on a net basis in the consolidated balance sheet. The following presents the impact of this presentation to the Company’s recognized assets and liabilities at September 30, 2014:
			Presented without						As Presented with
			Effects of Netting			Effects of Netting			Effects of Netting
	Current assets: Fair value of derivatives		$	4,968		$	-126		$	4,842
	Long-term assets: Fair value of derivatives			1,169			—			1,169
	Current liabilities: Fair value of derivatives		$	-591		$	126		$	-465
	Long-term liabilities: Fair value of derivatives			-865			—			-865
Schedule of Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance	'
			Three Months Ended September 30,						Nine Months Ended September 30,
				2014			2013			2014			2013
	Natural gas derivatives
	Net gain (loss) on settlements		$	35		$	-16		$	-144		$	-123
	Net gain (loss) on fair value adjustments			55			81			-77			178
	Total gain (loss)		$	90		$	65		$	-221		$	55
	Oil derivatives
	Net gain (loss) on settlements		$	-497		$	-618		$	-2,838		$	804
	Net gain (loss) on fair value adjustments			10,351			-3,133			5,805			-2,982
	Total gain (loss)		$	9,854		$	-3,751		$	2,967		$	-2,178
	Total gain (loss) on derivative instruments		$	9,944		$	-3,686		$	2,746		$	-2,123
Schedule of Outstanding Oil and Natural Gas Derivative Contracts	'
			For the Three Months Ended
			December 31,			March 31,			June 30,			September 30,			December 31,
	Oil contracts		2014			2015			2015			2015			2015
	Collar contracts combined with short
	puts (three-way collar):
	Volume (MBbls)			—			158			159			—			—
	Price per Bbl
	Ceiling (short call)		$	—		$	99.10		$	99.10		$	—		$	—
	Floor (long put)		$	—		$	90.00		$	90.00		$	—		$	—
	Short put		$	—		$	75.00		$	75.00		$	—		$	—
	Swap contracts:
	Total volume (MBbls)			267			171			136			129			74
	Weighted average price per Bbl		$	93.66		$	92.25		$	92.18		$	92.25		$	92.20
	Put spreads:
	Volume (MBbls)			—			—			—			138			138
	Long put price per Bbl		$	—		$	—		$	—		$	90.00		$	90.00
	Short put price per Bbl		$	—		$	—		$	—		$	75.00		$	75.00
	Swap contracts combined with short put:
	Volume (MBbls)			92			—			—			—			—
	Swap price per Bbl		$	93.35		$	—		$	—		$	—		$	—
	Short put price per Bbl		$	70.00		$	—		$	—		$	—		$	—
			For the Three Months Ended
			December 31,			March 31,			June 30,			September 30,			December 31,
	Natural gas contracts		2014			2015			2015			2015			2015
	Collar contracts combined with short
	puts (three-way collar):
	Volume (BBtu)			—			248			227			207			161
	Weighted average price per MMBtu
	Ceiling (short call)		$	—		$	4.67		$	4.32		$	4.32		$	4.32
	Floor (long put)		$	—		$	4.00		$	3.85		$	3.85		$	3.85
	Short put		$	—		$	3.50		$	3.25		$	3.25		$	3.25
	Swap contracts:
	Total volume (BBtu)			414			248			227			207			161
	Weighted average price per MMBtu		$	4.04		$	3.98		$	3.98		$	3.98		$	3.98
	Call contracts:
	Volume (BBtu)			115			—			—			—			—
	Short call price per MMBtu (a)		$	4.75		$	—		$	—		$	—		$	—
	Long call price per MMBtu (a)		$	4.75		$	—		$	—		$	—		$	—
	Swap contracts combined with short calls:
	Swap volume (BBtu)			184			—			—			—			—
	Swap price per MMBtu		$	4.25		$	—		$	—		$	—		$	—
	Short call volume (BBtu)			—			108			109			110			111
	Short call price per MMBtu		$	—		$	5.00		$	5.00		$	5.00		$	5.00
		(a)		Offsetting contracts.
	Subsequent Event
	The following derivative contracts were executed subsequent to September 30, 2014:
						For the Three Months Ended
						March 31,			June 30,			September 30,			December 31,
	Natural gas contracts					2015			2015			2015			2015
	Swap contracts:
	Total volume (BBtu)						23			10			12			67
	Weighted average price per MMBtu					$	3.91		$	3.91		$	3.91		$	3.91

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2014
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:
										`
			30-Sep-14						31-Dec-13
			Carrying Value			Fair Value				Carrying Value		Fair Value
	Credit Facility		$	20,000		$	20,000		$	22,000		$	22,000
	Second Lien Loan			82,500			82,500			—			—
	13% Senior Notes due 2016 (a)			—			—			53,748			50,299
	Total		$	102,500		$	102,500		$	75,748		$	72,299
		(a)		Fair value is calculated only in relation to the $48,481 principal outstanding of the Senior Notes at December 31, 2013 and excludes the remaining $5,267 deferred credit. The fair value of the Senior Notes, which is valued using Level 2 inputs, is based upon estimates provided by an independent investment banking firm. 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:
	30-Sep-14		Balance Sheet Presentation			Level 1			Level 2			Level 3			Total
	Assets
	Derivative financial instruments (current)		Fair value of derivatives		$	—		$	4,842		$	—		$	4,842
	Derivative financial instruments (non-current)		Other long-term assets			—			1,169			—			1,169
	Sub-total assets				$	—		$	6,011		$	—		$	6,011
	Liabilities
	Derivative financial instruments (current)		Fair value of derivatives		$	—		$	-465		$	—		$	-465
	Derivative financial instruments (non-current)		Other long-term liabilities			—			-865			—			-865
	Sub-total liabilities				$	—		$	-1,330		$	—		$	-1,330
	Total net assets (liabilities)				$	—		$	4,681		$	—		$	4,681
	31-Dec-13		Balance Sheet Presentation			Level 1			Level 2			Level 3			Total
	Assets
	Derivative financial instruments (current)		Fair value of derivatives		$	—		$	60		$	—		$	60
	Derivative financial instruments (non-current)		Other long-term assets			—			—			—			—
	Sub-total assets				$	—		$	60		$	—		$	60
	Liabilities
	Derivative financial instruments (current)		Fair value of derivatives		$	—		$	-1,036		$	—		$	-1,036
	Derivative financial instruments (non-current)		Other long-term liabilities			—			-72			—			-72
	Sub-total liabilities				$	—		$	-1,108		$	—		$	-1,108
	Total net assets (liabilities)				$	—		$	-1,048		$	—		$	-1,048

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2014
Asset Retirement Obligation [Abstract]	'
Schedule of Change in Asset Retirement Obligation	'
	Asset retirement obligations at January 1, 2014	$	6,732
	Accretion expense		603
	Liabilities incurred		542
	Liabilities settled		-1,908
	Revisions to estimate		450
	Asset retirement obligations at end of period		6,419
	Less: Current asset retirement obligations		5,138
	Long-term asset retirement obligations at September 30, 2014	$	1,281

Oil_and_Natural_Gas_Properties2

Oil and Natural Gas Properties (Narrative) (Details) (USD $)	9 Months Ended		0 Months Ended		3 Months Ended	0 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Oct. 08, 2014	Oct. 08, 2014	Mar. 31, 2014	Apr. 10, 2014	Oct. 08, 2014	Oct. 08, 2014
			Midland, Andrews, Ector and Martin Counties [Member]	Midland, Andrews, Ector and Martin Counties [Member]	Reagan and Upton Counties Acreage Purchase [Member]	Secured second lien term loan [Member]	Secured second lien term loan [Member]	Secured second lien term loan [Member]
			Subsequent Event [Member]	Subsequent Event [Member]	acre		Subsequent Event [Member]	Midland, Andrews, Ector and Martin Counties [Member]
								Subsequent Event [Member]
Oil And Natural Gas Properties [Line Items]	'	'	'	'	'	'	'	'
Net acres	'	'	'	'	1,527	'	'	'
Acquisition price	'	'	'	'	$8,200	'	'	'
Aggregate cash purchase price	205,011	'	'	205,011	'	'	'	'
Purchase price adjustments	'	'	7,561	'	'	'	'	'
Equity offering	'	'	122,514	'	'	'	'	'
Initial amount drawn	$200,000	$48,000	'	'	'	$62,500	$300,000	$300,000
Working interest	'	'	62.00%	'	100.00%	'	'	'
revenue interest	'	'	46.50%	'	78.00%	'	'	'

Oil_and_Natural_Gas_Properties3

Oil and Natural Gas Properties (Net Assets Acquired) (Details) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Oil and Natural Gas Properties [Abstract]	'
Oil and natural gas properties	$92,847
Unevaluated oil and natural gas properties	113,092
Asset retirement obligations	-928
Net assets to be acquired	$205,011

Oil_and_Natural_Gas_Properties4

Oil and Natural Gas Properties (Unaudited Pro Forma Financial Information) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Oil and Natural Gas Properties [Abstract]	'	'	'	'
Revenues	$48,035	$43,253	$142,040	$114,078
Income from operations	15,269	13,721	45,453	28,481
Income available to common stockholders	$11,102	$766	$16,571	$2,477
Basic	$0.19	$0.01	$0.30	$0.05
Diluted	$0.19	$0.01	$0.29	$0.05

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, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share, Basic and Diluted	'	'	'	'
Net income (loss)	$12,201	$1,082	$18,804	$1,040
Preferred stock dividends	-1,974	-1,974	-5,921	-2,654
Income (loss) available to common shareholders	$10,227	($892)	$12,883	($1,614)
Weighted average shares outstanding	43,187	40,321	41,370	40,064
Dilutive impact of restricted stock	1,024	'	1,140	'
Weighted average shares outstanding for diluted income (loss)	44,211	40,321	42,510	40,064
Basic income (loss) per share	$0.24	($0.02)	$0.31	($0.04)
Diluted income (loss) per share	$0.23	($0.02)	$0.30	($0.04)
Options [Member]	'	'	'	'
Earnings Per Share, Basic and Diluted	'	'	'	'
Excluded from the diluted EPS calculation because their effect would be anti-dilutive	30	52	30	52
Restricted Stock [Member]	'	'	'	'
Earnings Per Share, Basic and Diluted	'	'	'	'
Excluded from the diluted EPS calculation because their effect would be anti-dilutive	'	239	'	239

Borrowings_Schedule_of_Borrowi

Borrowings (Schedule of Borrowings) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Principal components:	'	'
Principal Components	$102,500	$70,481
Non-cash components:	'	'
Total carrying value of borrowings	102,500	75,748
Senior Secured Revolving Credit Facility [Member]	'	'
Principal components:	'	'
Credit Facility	20,000	22,000
Secured second lien term loan [Member]	'	'
Principal components:	'	'
Principal Components	82,500	'
Non-cash components:	'	'
Total carrying value of borrowings	82,500	'
13% Senior Notes due 2016 [Member]	'	'
Principal components:	'	'
Principal Components	'	48,481
Non-cash components:	'	'
Deferred credit	'	$5,267

Borrowings_Senior_secured_revo

Borrowings (Senior secured revolving credit facility ) (Details) (Senior Secured Revolving Credit Facility [Member], USD $)	9 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 11, 2014	Dec. 31, 2013	Oct. 08, 2014	Sep. 30, 2014	Sep. 30, 2014
				Subsequent Event [Member]	Minimum [Member]	Maximum [Member]
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Maximum borrowing capacity	'	$500,000	'	'	'	'
Current borrowing capacity	155,000	'	'	250,000	'	'
Credit Facility	$20,000	'	$22,000	'	'	'
Interest rate at period end (as a percent)	2.43%	'	'	'	'	'
Basis Spread on LIBOR (as a percent)	'	'	'	'	1.75%	2.75%
Unused capacity, commitment fee (as a percent)	0.50%	'	'	'	'	'

Borrowings_Term_Loans_Details

Borrowings (Term Loans) (Details) (USD $)

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

0 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Apr. 10, 2014

Apr. 11, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Oct. 08, 2014

Oct. 08, 2014

Oct. 08, 2014

Oct. 08, 2014

Oct. 08, 2014

Oct. 08, 2014

Secured second lien term loan [Member]

Secured second lien term loan [Member]

Secured second lien term loan [Member]

Secured second lien term loan [Member]

Secured second lien term loan [Member]

Secured second lien term loan [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Prior to First Anniversary [Member]

After First Anniversary but Prior to Second Anniversary [Member]

After Second Anniversary [Member]

Secured second lien term loan [Member]

Secured second lien term loan [Member]

Secured second lien term loan [Member]

Secured second lien term loan [Member]

Secured second lien term loan [Member]

Prior to First Anniversary [Member]

After First Anniversary but Prior to Second Anniversary [Member]

After Second Anniversary [Member]

Line of Credit Facility [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum borrowing capacity

'

'

'

'

'

$125,000

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Initial Commitment

'

'

'

'

'

100,000

'

'

'

'

'

'

'

'

'

Line of credit facility, additional availability

'

'

'

'

'

25,000

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Prepayment Premium Percentage

'

'

'

'

'

'

102.00%

101.00%

100.00%

'

'

'

102.00%

101.00%

100.00%

Gain (loss) on early extinguishment of debt

3,205

'

'

'

'

'

'

'

'

-3,054

'

'

'

'

'

Carrying value

102,500

'

75,748

'

'

82,500

'

'

'

'

'

'

'

'

'

Initial amount drawn

$200,000

$48,000

'

$62,500

'

'

'

'

'

'

$300,000

'

'

'

'

Line of Credit Facility, Discount Percentage

'

'

'

1.00%

'

'

'

'

'

'

2.00%

'

'

'

'

Interest rate at period end (as a percent)

'

'

'

'

8.75%

'

'

'

'

'

'

8.50%

'

'

'

Floor rate

'

'

'

'

1.00%

'

'

'

'

'

1.00%

'

'

'

'

Basis Spread on LIBOR (as a percent)

'

'

'

'

7.75%

'

'

'

'

'

7.50%

'

'

'

'

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				0 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Dec. 31, 2013	Apr. 11, 2014	Apr. 11, 2014
				13% Senior Notes due 2016 [Member]	13% Senior Notes due 2016 [Member]	13% Senior Notes due 2016 [Member]
					Senior Notes [Member]	Senior Notes [Member]
Debt Instrument [Line Items]	'	'	'	'	'	'
Repayments of senior debt	'	'	'	'	$48,481	'
Principal Components	102,500	'	70,481	48,481	'	'
Gain on extinguishment of debt	3,205	'	'	'	3,205	'
Extinguishment of Debt, Amount	'	'	'	'	50,057	'
Redemption expenses	'	'	'	'	1,576	'
Carrying value	102,500	'	75,748	'	'	53,261
Deferred credit	'	'	'	-5,267	'	4,780
Accumulated Amortization	0	'	26,239	'	'	'
Amortization of deferred credit	-433	-2,448	'	'	-4,780	'
Payment for accrued interest on redemption of debt	'	'	'	'	$193	'

Derivative_Instruments_and_Hed2

Derivative Instruments and Hedging Activities (Derivatives Fair Value By Balance Sheet Location) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivatives, Fair Value [Line Items]	'	'
Asset Fair Value	$6,011	$60
Liability Fair Value	-1,330	-1,108
Net Derivative Fair Value	4,681	-1,048
Not Designated as Hedging Instrument [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Asset Fair Value	6,011	60
Liability Fair Value	-1,330	-1,108
Net Derivative Fair Value	4,681	-1,048
Current liabilities - Fair market value of derivatives [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Liability Fair Value	-47	'
Net Derivative Fair Value	-47	'
Current liabilities - Fair market value of derivatives [Member] | Not Designated as Hedging Instrument [Member] | Crude Oil [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Liability Fair Value	-418	-1,036
Non-current liabilities - Other long-term liabilities [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Liability Fair Value	-41	-72
Net Derivative Fair Value	-41	-72
Non-current liabilities - Other long-term liabilities [Member] | Not Designated as Hedging Instrument [Member] | Crude Oil [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Liability Fair Value	-824	'
Net Derivative Fair Value	-824	'
Current assets - Fair market value of derivatives [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Asset Fair Value	'	60
Net Derivative Fair Value	'	60
Current assets - Fair market value of derivatives [Member] | Not Designated as Hedging Instrument [Member] | Crude Oil [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Asset Fair Value	4,842	'
Non-current assets - Other long-term assets [Member] | Not Designated as Hedging Instrument [Member] | Crude Oil [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Asset Fair Value	1,169	'
Net Derivative Fair Value	1,169	'
Balance Sheet Current [Member] | Not Designated as Hedging Instrument [Member] | Crude Oil [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Net Derivative Fair Value	$4,424	($1,036)

Derivative_Instruments_and_Hed3

Derivative Instruments and Hedging Activities (Derivative Netting Adjustments) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Offsetting Assets and Liabilities [Line Items]	'	'
Derivative Assets	$6,011	$60
Derivative Liabilities	-1,330	-1,108
Current assets: Fair value of hedging contracts [Member]	'	'
Offsetting Assets and Liabilities [Line Items]	'	'
Derivative Asset, Fair Value, Gross Asset	4,968	'
Derivative Asset, Fair Value, Gross Liability	-126	'
Derivative Assets	4,842	'
Long-term assets: Fair value of hedging contracts [Member]	'	'
Offsetting Assets and Liabilities [Line Items]	'	'
Derivative Asset, Fair Value, Gross Asset	1,169	'
Derivative Assets	1,169	'
Current liabilities: Fair value of hedging contracts [Member]	'	'
Offsetting Assets and Liabilities [Line Items]	'	'
Derivative Liability, Fair Value, Gross Liability	-591	'
Derivative Liability, Fair Value, Gross Asset	126	'
Derivative Liabilities	-465	'
Long-term liabilities: Fair value of hedging contracts [Member]	'	'
Offsetting Assets and Liabilities [Line Items]	'	'
Derivative Liability, Fair Value, Gross Liability	-865	'
Derivative Liabilities	($865)	'

Derivative_Instruments_and_Hed4

Derivative Instruments and Hedging Activities (Gain or loss on derivative contracts) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Net gain (loss) on fair value adjustments	'	'	$5,728	($2,929)
Total gain (loss) on derivative instruments	9,944	-3,686	2,746	-2,123
Natural Gas [Member] | Not Designated as Hedging Instrument [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Net gain (loss) on settlements	35	-16	-144	-123
Net gain (loss) on fair value adjustments	55	81	-77	178
Total gain (loss) on derivative instruments	90	65	-221	55
Crude Oil [Member] | Not Designated as Hedging Instrument [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Net gain (loss) on settlements	-497	-618	-2,838	804
Net gain (loss) on fair value adjustments	10,351	-3,133	5,805	-2,982
Total gain (loss) on derivative instruments	$9,854	($3,751)	$2,967	($2,178)

Derivative_Instruments_and_Hed5

Derivative Instruments and Hedging Activities (Derivative Positions) (Details) (Not Designated as Hedging Instrument [Member])

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Oct. 31, 2014

Sep. 30, 2014

Sep. 30, 2014

Oct. 31, 2014

Sep. 30, 2014

Sep. 30, 2014

Oct. 31, 2014

Sep. 30, 2014

Sep. 30, 2014

Oct. 31, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Crude Oil [Member]

Crude Oil [Member]

Crude Oil [Member]

Crude Oil [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Crude Oil [Member]

Crude Oil [Member]

Crude Oil [Member]

Crude Oil [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Crude Oil [Member]

Natural Gas [Member]

Crude Oil [Member]

Natural Gas [Member]

Natural Gas [Member]

Crude Oil [Member]

Natural Gas [Member]

Natural Gas [Member]

Crude Oil [Member]

Natural Gas [Member]

Natural Gas [Member]

Crude Oil [Member]

Natural Gas [Member]

Natural Gas [Member]

Crude Oil [Member]

Crude Oil [Member]

Crude Oil [Member]

Crude Oil [Member]

Crude Oil [Member]

Crude Oil [Member]

Swap Contracts Combined With Short Put Three Months December 31, 2014 [Member]

Swap Contracts Combined With Short Put Three Months December 31, 2014 [Member]

Swap Contracts Combined With Short Put Three Months December 31, 2014 [Member]

Swap Contracts Combined With Short Calls Three Months December 31, 2014 [Member]

Swap Contracts Combined With Short Calls Three Months December 31, 2014 [Member]

Swap Contracts Combined With Short Calls Three Months March 31, 2015 [Member]

Swap Contracts Combined With Short Calls Three Months June 30, 2015 [Member]

Swap Contracts Combined With Short Calls Three Months September 30, 2015 [Member]

Swap Contracts Combined With Short Calls Three Months December 31, 2015 [Member]

Call Contracts Three Months December 31, 2014 [Member]

Call Contracts Three Months December 31, 2014 [Member]

Call Contracts Three Months December 31, 2014 [Member]

MBbls

Call Option [Member]

Put Option [Member]

Put Option [Member]

MMBTU

Call Option [Member]

Put Option [Member]

Put Option [Member]

MBbls

Call Option [Member]

Put Option [Member]

Put Option [Member]

MMBTU

Call Option [Member]

Put Option [Member]

Put Option [Member]

MMBTU

Call Option [Member]

Put Option [Member]

Put Option [Member]

MMBTU

Call Option [Member]

Put Option [Member]

Put Option [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Swap [Member]

Put Option [Member]

Put Option [Member]

Put Option [Member]

Put Option [Member]

Put Option [Member]

Put Option [Member]

Crude Oil [Member]

Crude Oil [Member]

Crude Oil [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Natural Gas [Member]

Short [Member]

Long [Member]

Short [Member]

Short [Member]

Long [Member]

Short [Member]

Short [Member]

Long [Member]

Short [Member]

Short [Member]

Long [Member]

Short [Member]

Short [Member]

Long [Member]

Short [Member]

Short [Member]

Long [Member]

Short [Member]

MBbls

MMBTU

MBbls

MMBTU

Subsequent Event [Member]

MBbls

MMBTU

Subsequent Event [Member]

MBbls

MMBTU

Subsequent Event [Member]

MBbls

MMBTU

Subsequent Event [Member]

MBbls

Long [Member]

Short [Member]

MBbls

Long [Member]

Short [Member]

MBbls

Put Option [Member]

Swap [Member]

Short [Member]

Swap [Member]

Call Option [Member]

Call Option [Member]

Call Option [Member]

Call Option [Member]

Call Option [Member]

Call Option [Member]

Call Option [Member]

MMBTU

MMBTU

MMBTU

MMBTU

Short [Member]

MMBTU

Short [Member]

Short [Member]

Short [Member]

Short [Member]

Short [Member]

MMBTU

Long [Member]

Short [Member]

MMBTU

MMBTU

MMBTU

MMBTU

Derivative [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total volume, oil contracts

158

'

'

'

'

'

'

'

159

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

267

'

171

'

'

136

'

'

129

'

'

74

'

'

138

'

'

138

'

'

92

'

'

'

'

'

'

'

'

'

'

'

Total volume, natural gas contracts

'

'

'

'

248,000

'

'

'

'

'

'

'

227,000

'

'

'

207,000

'

'

'

161,000

'

'

'

'

414,000

'

248,000

23,000,000

'

227,000

10,000,000

'

207,000

12,000,000

'

161,000

67,000,000

'

'

'

'

'

'

'

'

'

184,000

'

108,000,000

109,000,000

110,000,000

111,000,000

115,000

'

'

Strike price

'

99.1

90

75

'

4.67

4

3.5

'

99.1

90

75

'

4.32

3.85

3.25

'

4.32

3.85

3.25

'

4.32

3.85

3.25

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

90

75

'

90

75

'

70

'

'

'

5

5

5

5

'

4.75

4.75

Average swap price

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

93.66

4.04

92.25

3.98

3.91

92.18

3.98

3.91

92.25

3.98

3.91

92.2

3.98

3.91

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Swap price

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

93.35

'

4.25

'

'

'

'

'

'

'

Fair_Value_Measurements_Fair_V

Fair Value Measurements (Fair Value) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Principal Components	$102,500	$70,481
Derivative Assets	'	'
Derivative Assets, Current	4,842	60
Derivative Assets	6,011	60
Liabilities	'	'
Derivative Liabilities, Current	-465	-1,036
Derivative Liabilities	-1,330	-1,108
Fair Value, Net Asset (Liability)	4,681	-1,048
Carrying Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	102,500	75,748
Fair Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	102,500	72,299
Level 2 [Member]	'	'
Derivative Assets	'	'
Derivative Assets	6,011	60
Liabilities	'	'
Derivative Liabilities	-1,330	-1,108
Fair Value, Net Asset (Liability)	4,681	-1,048
Senior Secured Revolving Credit Facility [Member] | Carrying Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Credit facility	20,000	22,000
Senior Secured Revolving Credit Facility [Member] | Fair Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Credit facility	20,000	22,000
Secured second lien term loan [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Principal Components	82,500	'
Secured second lien term loan [Member] | Carrying Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Credit facility	82,500	'
Secured second lien term loan [Member] | Fair Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Credit facility	82,500	'
13% Senior Notes due 2016 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Principal Components	'	48,481
Deferred credit	'	5,267
13% Senior Notes due 2016 [Member] | Carrying Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
13% Senior Notes due 2016	'	53,748	[1]
13% Senior Notes due 2016 [Member] | Fair Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
13% Senior Notes due 2016	'	50,299	[1]
Current assets - Fair market value of derivatives [Member]	'	'
Derivative Assets	'	'
Derivative Assets, Current	4,842	60
Liabilities	'	'
Derivative Liabilities, Current	-465	'
Current assets - Fair market value of derivatives [Member] | Level 2 [Member]	'	'
Derivative Assets	'	'
Derivative Assets, Current	4,842	60
Liabilities	'	'
Derivative Liabilities, Current	-465	'
Noncurrent assets - Other assets, net [Member]	'	'
Derivative Assets	'	'
Derivative Assets, Noncurrent	1,169	'
Noncurrent assets - Other assets, net [Member] | Level 2 [Member]	'	'
Derivative Assets	'	'
Derivative Assets, Noncurrent	1,169	'
Current liabilities - Fair market value of derivatives [Member]	'	'
Liabilities	'	'
Derivative Liabilities, Current	'	-1,036
Current liabilities - Fair market value of derivatives [Member] | Level 2 [Member]	'	'
Liabilities	'	'
Derivative Liabilities, Current	'	-1,036
Other long-term liabilities [Member]	'	'
Liabilities	'	'
Derivative Liabilities, Noncurrent	-865	-72
Other long-term liabilities [Member] | Level 2 [Member]	'	'
Liabilities	'	'
Derivative Liabilities, Noncurrent	($865)	($72)
[1]	Fair value is calculated only in relation to the $48,481 principal outstanding of the Senior Notes at December 31, 2013B and excludes the remaining $5,267 deferred credit.B The fair value of the Senior Notes, which is valued using Level 2 inputs, is based upon estimates provided by an independent investment banking firm. See Note 4 for additional information.

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'	'	'	'
Income tax expense computed at the statutory federal income tax rate	'	'	35.00%	'
Effective tax rate (as a percent)	37.00%	30.00%	40.00%	48.00%

Asset_Retirement_Obligations_D

Asset Retirement Obligations (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]	'	'
Asset retirement obligations at beginning of the period	$6,732	'
Accretion expense	603	'
Liabilities incurred	542	'
Liabilities settled	-1,908	'
Revisions to estimate	450	'
Asset retirement obligations at end of period	6,419	'
Less: current asset retirement obligations	5,138	4,120
Long-term asset retirement obligations at the end of the period	1,281	2,612
Restricted Investments	'	'
Restricted investments	$3,802	$3,806

Equity_Transactions_Details

Equity Transactions (Details) (USD $)	3 Months Ended	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Sep. 15, 2014	Dec. 31, 2013
Class of Stock [Line Items]	'	'	'	'
Common stock, shares authorized	110,000,000	110,000,000	'	60,000,000
Share Price	$8.81	$8.81	'	'
Conversion ratio of preferred stock to common stock	'	5.7	'	'
Stock issued during period (in shares)	12,500,000	'	'	'
Shares price issued	'	'	$9	'
Proceeds from issuance of common stock	$122,514	$122,514	'	'
Underwriters over-allotment of shares (in shares)	1,875,000	'	'	'
Series A Preferred Stock [Member]	'	'	'	'
Class of Stock [Line Items]	'	'	'	'
Preferred stock, shares outstanding	1,578,948	1,578,948	'	1,578,948
Preferred Stock, Dividend Rate, Percentage	'	10.00%	'	'
Preferred stock, liquidation preference (in dollars per share)	$50	$50	'	50
Preferred Stock, Dividend Rate, Per-Dollar-Amount, Per Annum	'	$5	'	'
Preferred Stock, Dividends Per Share, Declared	$1.25	'	'	'
Dividends, Preferred Stock, Cash	$1,974	$5,921	'	'

Other_Details

Other (Details) (USD $)	3 Months Ended	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Other [Abstract]	'	'	'
Lease payments in 2014	'	$19,443	'
Lease payments in 2014 in remainder of fiscal year	'	6,256	'
Lease payments in 2015	'	23,164	'
Lease payments in 2016	'	4,795	'
Impairment charge of equipment to be abondoned	'	'	1,707
Gain on sale of equipment	$1,080	$1,080	'