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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2014	May 06, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	Matador Resources Co
Entity Central Index Key	0001520006
Document Type	10-Q
Document Period End Date	Mar. 31, 2014
Amendment Flag	false
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		65,806,120

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Deferred Tax Liabilities, Net, Noncurrent	$ 20,360	$ 10,929
Current assets
Cash	14,340	6,287
Accounts receivable
Oil and natural gas revenues	31,793	25,823
Joint interest billings	5,554	4,785
Other	1,268	1,066
Derivative instruments	99	19
Deferred Tax Assets, Net	2,806	1,636
Lease and well equipment inventory	923	785
Prepaid expenses	2,195	1,771
Total current assets	58,978	42,172
Oil and natural gas properties, full-cost method
Evaluated	1,198,893	1,090,656
Unproved and unevaluated	222,580	194,306
Other property and equipment	31,464	29,910
Less accumulated depletion, depreciation and amortization	(493,025)	(468,995)
Net property and equipment	959,912	845,877
Other assets
Derivative instruments	267	173
Deferred income taxes		0
Other assets	2,574	2,108
Total other assets	2,841	2,281
Total assets	1,021,731	890,330
Current liabilities
Accounts payable	6,328	25,358
Accrued liabilities	109,158	63,987
Royalties payable	9,395	7,798
Derivative instruments	6,227	2,692
Accrued Income Taxes, Current	1,679	404
Other current liabilities	88	88
Total current liabilities	132,875	100,327
Long-term liabilities
Borrowings under Credit Agreement	270,000	200,000
Asset retirement obligations	9,019	7,309
Other long-term liabilities	3,076	2,588
Total long-term liabilities	302,455	221,079
Commitments and contingencies (Note 9)
Shareholders' equity
Common stock - $0.01 par value, 80,000,000 shares authorized; 67,114,432 and 66,958,867 shares issued; and 65,800,555 and 65,652,690 shares outstanding, respectively	671	670
Additional paid-in capital	550,048	548,935
Retained deficit	46,447	30,084
Treasury stock, at cost, 1,313,877 and 1,306,177 shares, respectively	(10,765)	(10,765)
Total shareholders' equity	586,401	568,924
Total liabilities and shareholders' equity	1,021,731	890,330
Derivative Liability, Noncurrent	$ 0	$ 253

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	57,139,755	66,958,867
Common stock, shares outstanding	55,837,912	65,652,690
Treasury stock, shares	1,301,843	1,306,177

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues
Oil and natural gas revenues	$ 78,931	$ 59,319
Realized gain on derivatives	(1,843)	392
Unrealized loss on derivatives	(3,108)	(4,825)
Total revenues	73,980	54,886
Expenses
Production taxes and marketing	6,006	4,097
Lease operating	9,351	10,899
Depletion, depreciation and amortization	24,030	28,232
Accretion of asset retirement obligations	117	81
Full-cost ceiling impairment	0	21,230
General and administrative	7,219	4,602
Total expenses	46,723	69,141
Operating (loss) income	27,257	(14,255)
Other income (expense)
Interest expense	(1,396)	(1,271)
Interest and other income	38	67
Total other expense	(1,358)	(1,204)
Income (loss) before income taxes	25,899	(15,459)
Income tax provision
Current	1,275	46
Deferred	8,261
Total income tax provision	9,536	46
Net income (loss)	$ 16,363	$ (15,505)
Basic
Basic (usd per share)	$ 0.25	$ (0.28)
Diluted
Diluted (usd per share)	$ 0.25	$ (0.28)
Diluted
Diluted (shares)	66,229	55,272
Class A
Basic
Basic (shares)	65,684	55,272

Condensed Consolidated Statement of Changes in Shareholders' Equity - 3 months ended Mar. 31, 2014 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Deficit	Treasury Stock	Common Class A [Member] Common Stock
Beginning Balance at Dec. 31, 2013	$ 568,924	$ 670	$ 548,935	$ 30,084	$ (10,765)
Beginning Balance, shares at Dec. 31, 2013	65,652,690	66,959,000			1,306,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued to Board advisors	$ 6	$ 0	6	0	$ 0
Common stock issued to Board advisors, shares		4,000
Stock options expense related to equity based awards	475	$ 0	475	0	0
Stock Issued During Period, Value, Stock Options Exercised						$ 1
Liability based stock option awards forfeited or expired	15	0	(15)	0	0
Restricted stock issued		$ 1	(1)	0	0
Restricted stock issued, shares		150,000
Restricted stock forfeited	0	$ 0	0	0	$ 0
Restricted stock forfeited, shares					8,000
Restricted stock and restricted stock units expense	(618)	0	(618)	0	$ 0
Current period net loss	16,363	0	0	16,363	0
Ending Balance at Mar. 31, 2014	$ 586,401	$ 671	$ 550,048	$ 46,447	$ (10,765)
Ending Balance, shares at Mar. 31, 2014	55,837,912	67,114,000			1,314,000

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Operating activities
Net (loss) income	$ (16,363)	$ 15,505
Adjustments to reconcile net (loss) income to net cash provided by operating activities
Unrealized loss on derivatives	3,108	4,825
Depletion, depreciation and amortization	24,030	28,232
Accretion of asset retirement obligations	117	81
Full-cost ceiling impairment	0	21,230
Stock-based compensation expense	(1,795)	(492)
Deferred income tax provision	8,261
Changes in operating assets and liabilities
Accounts receivable	(6,941)	1,752
Lease and well equipment inventory	(31)	121
Prepaid expenses	(424)	(493)
Other assets	(466)	(172)
Accounts payable, accrued liabilities and other current liabilities	(16,540)	(10,788)
Royalties payable	(1,597)	(1,165)
Advances from joint interest owners	0	1,034
Income taxes payable	1,275	46
Other long-term liabilities	(199)	209
Net cash provided by operating activities	31,945	32,229
Investing activities
Oil and natural gas properties capital expenditures	(92,891)	(83,387)
Expenditures for other property and equipment	(1,007)	(1,374)
Purchases of certificates of deposit	0	(61)
Maturities of certificates of deposit	0	150
Net cash used in investing activities	(93,898)	(84,672)
Financing activities
Borrowings under Credit Agreement	70,000	55,000
Proceeds from stock options exercised	6	0
Net cash provided by financing activities	70,006	55,000
Increase (decrease) in cash	8,053	2,557
Cash at beginning of period	6,287	2,095
Cash at end of period	$ 14,340	$ 4,652

Nature of Operations	3 Months Ended
Nature of Operations	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Matador Resources Company (“Matador” and, collectively with its subsidiaries, the “Company”) is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company’s current operations are focused primarily on the oil and liquids-rich portion of the Eagle Ford shale play in South Texas and the Wolfcamp and Bone Spring plays in the Permian Basin in Southeast New Mexico and West Texas. The Company also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas. In addition, the Company has a large exploratory leasehold position in Southwest Wyoming and adjacent areas in Utah and Idaho where it is testing the Meade Peak shale. On November 22, 2010, the company formerly known as Matador Resources Company, a Texas corporation founded on July 3, 2003, formed a wholly-owned subsidiary, Matador Holdco, Inc. Pursuant to the terms of a corporate reorganization that was completed on August 9, 2011 and in connection with its initial public offering, the former Matador Resources Company became a wholly-owned subsidiary of Matador Holdco, Inc. and changed its corporate name to MRC Energy Company, and Matador Holdco, Inc. changed its corporate name to Matador Resources Company. MRC Energy Company holds the primary assets of the Company and has four wholly-owned subsidiaries: Matador Production Company, MRC Permian Company, MRC Rockies Company and Longwood Gathering and Disposal Systems GP, Inc. Matador Production Company serves as the oil and natural gas operating entity. MRC Permian Company conducts oil and natural gas exploration and development activities in Southeast New Mexico and West Texas. MRC Rockies Company conducts oil and natural gas exploration and development activities in the Rocky Mountains and specifically in the states of Wyoming, Utah and Idaho. Longwood Gathering and Disposal Systems GP, Inc. serves as the general partner of Longwood Gathering and Disposal Systems, LP, which owns a majority of the pipeline systems and salt water disposal wells used in the Company’s operations, transports limited quantities of third-party natural gas and disposes of limited quantities of third-party salt water.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Interim Financial Statements, Basis of Presentation, Consolidation and Significant Estimates

The unaudited condensed consolidated financial statements of Matador and its subsidiaries have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) but do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC (the “Annual Report”). All intercompany accounts and transactions have been eliminated in consolidation. In management’s opinion, these interim unaudited condensed consolidated financial statements include all adjustments of a normal recurring nature necessary for a fair presentation of the Company’s consolidated financial position as of March 31, 2014, consolidated results of operations for the three months ended March 31, 2014 and 2013, consolidated changes in shareholders’ equity for the three months ended March 31, 2014 and consolidated cash flows for the three months ended March 31, 2014 and 2013. Amounts as of December 31, 2013 are derived from the audited consolidated financial statements in the Annual Report.

Accounting measurements at interim dates inherently involve greater reliance on estimates than at year end and the results for the interim periods shown in this report are not necessarily indicative of results to be expected for the full year due in part to volatility in oil, natural gas and natural gas liquids prices, global economic and financial market conditions, interest rates, access to sources of liquidity, estimates of reserves, drilling risks, geological risks, transportation restrictions, oil, natural gas and natural gas liquids supply and demand, market competition and interruptions of production.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions may also affect disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s consolidated financial statements are based on a number of significant estimates, including accruals for oil and natural gas revenues, accrued assets and liabilities primarily related to oil and natural gas operations, stock-based compensation, valuation of derivative instruments and oil and natural gas reserves. The estimates of oil and natural gas reserves quantities and future net cash flows are the basis for the calculations of depletion and impairment of oil and natural gas properties, as well as estimates of asset retirement obligations and certain tax accruals. While the Company believes its estimates are reasonable, changes in facts and assumptions or the discovery of new information may result in revised estimates. Actual results could differ from these estimates.

Property and Equipment

The Company uses the full-cost method of accounting for its investments in oil and natural gas properties. Under this method of accounting, all costs associated with the acquisition, exploration and development of oil and natural gas properties and reserves, including unproved and unevaluated property costs, are capitalized as incurred and accumulated in a single cost center representing the Company’s activities, which are undertaken exclusively in the United States. Such costs include lease acquisition costs, geological and geophysical expenditures, lease rentals on undeveloped properties, costs of drilling both productive and non-productive wells, capitalized interest on qualifying projects and general and administrative expenses directly related to acquisition, exploration and development activities, but do not include any costs related to production, selling or general corporate administrative activities. The Company capitalized approximately $0.9 million and $0.7 million of its general and administrative costs for the three months ended March 31, 2014 and 2013, respectively. The Company capitalized approximately $0.7 million and $0.3 million of its interest expense for the three months ended March 31, 2014 and 2013, respectively.

The net capitalized costs of oil and natural gas properties are limited to the lower of unamortized costs less related deferred income taxes or the cost center “ceiling.” The cost center ceiling is defined as the sum of:

(a) the present value, discounted at 10%, of future net revenues of proved oil and natural gas reserves, reduced by the estimated costs of developing these reserves, plus

(b) unproved and unevaluated property costs not being amortized, plus

(c) the lower of cost or estimated fair value of unproved and unevaluated properties included in the costs being amortized, if any, less

(d) income tax effects related to the properties involved.

Any excess of the Company’s net capitalized costs above the cost center ceiling as described above is charged to operations as a full-cost ceiling impairment. The need for a full-cost ceiling impairment is required to be assessed on a quarterly basis. The fair value of the Company’s derivative instruments is not included in the ceiling test computation as the Company does not designate these instruments as hedge instruments for accounting purposes.

The estimated present value of after-tax future net cash flows from proved oil and natural gas reserves is highly dependent upon the quantities of proved reserves which requires substantial judgment. The associated commodity prices and applicable discount rate used in these estimates are in accordance with guidelines established by the SEC. Under these guidelines, oil and natural gas reserves are estimated using then-current operating and economic conditions, with no provision for price and cost escalations in future periods except by contractual arrangements. Future net revenues are calculated using prices that represent the arithmetic averages of first-day-of-the-month oil and natural gas prices for the previous 12-month period and dictate that a 10% discount factor be used. For the period from April 2013 through March 2014, these average oil and natural gas prices were $94.92 per barrel (“Bbl”) and $3.989 per million British thermal units (“MMBtu”), respectively. For the period from April 2012 through March 2013, these average oil and natural gas prices were $89.17 per Bbl and $2.950 per MMBtu, respectively. In estimating the present value of after-tax future net cash flows from proved oil and natural gas reserves, the average oil prices were adjusted by property for quality, transportation and marketing fees and regional price differentials, and the average natural gas prices were adjusted by property for energy content, transportation and marketing fees and regional price differentials. At March 31, 2014 and 2013, the Company’s oil and natural gas reserves estimates were prepared by the Company’s engineering staff in accordance with guidelines established by the SEC and then audited for their reasonableness and conformance with SEC guidelines by Netherland, Sewell & Associates, Inc., independent reservoir engineers.

Using the average commodity prices, as adjusted, to determine the Company’s estimated proved oil and natural gas reserves at March 31, 2014, the Company’s net capitalized costs less related deferred income taxes did not exceed the full-cost ceiling. As a result, the Company recorded no impairment to its net capitalized costs for the three months ended March 31, 2014. Using the average commodity prices, as adjusted, to determine the Company’s estimated proved oil and natural gas reserves at March 31, 2013, the Company’s net capitalized costs less related deferred income taxes exceeded the full-cost ceiling by $13.7 million. The Company recorded an impairment charge of $21.2 million to its net capitalized costs and a deferred income tax credit of $7.5 million related to the full-cost ceiling limitation at March 31, 2013. At March 31, 2013, the Company retained a full valuation allowance against its deferred tax assets, and as a result, the income tax benefit of $7.5 million is not reflected in the Company’s unaudited condensed consolidated statement of operations for the three months ended March 31, 2013.

As a non-cash item, the full-cost ceiling impairment impacts the accumulated depletion and the net carrying value of the Company’s assets on its consolidated balance sheet, as well as the corresponding consolidated shareholders’ equity, but it has no impact on the Company’s consolidated net cash flows as reported. Changes in oil and natural gas production rates, oil and natural gas prices, reserves estimates, future development costs and other factors will determine the Company’s actual ceiling test computation and impairment analyses in future periods.

Capitalized costs of oil and natural gas properties are amortized using the unit-of-production method based upon production and estimates of proved reserves quantities. Unproved and unevaluated property costs are excluded from the amortization base used to determine depletion. Unproved and unevaluated properties are assessed for possible impairment on a periodic basis based upon changes in operating or economic conditions. This assessment includes consideration of the following factors, among others: the assignment of proved reserves, geological and geophysical evaluations, intent to drill, remaining lease term and drilling activity and results. Upon impairment, the costs of the unproved and unevaluated properties are immediately included in the amortization base. Exploratory dry holes are included in the amortization base immediately upon determination that the well is not productive.

Earnings (Loss) Per Common Share

The Company reports basic earnings (loss) per common share, which excludes the effect of potentially dilutive securities, and diluted earnings per common share, which includes the effect of all potentially dilutive securities, unless their impact is anti-dilutive.

The following table sets forth the computation of diluted weighted average common shares outstanding for the three months ended March 31, 2014 and 2013 (in thousands).



	Three Months Ended March 31,
	2014	2013
Weighted average common shares outstanding
Basic	65,684	55,272
Dilutive effect of options and restricted stock units	545	—
Diluted weighted average common shares outstanding	66,229	55,272

A total of 1,434,861 options to purchase shares of the Company’s common stock and 68,607 restricted stock units were excluded from the calculations above for the three months ended March 31, 2013, because their effects were anti-dilutive. Additionally, 570,078 non-vested restricted shares, which are participating securities, were excluded from the calculations above for the three months ended March 31, 2013, as these security holders do not have the obligation to share in the losses of the Company.

Fair Value Measurements

The Company measures and reports certain assets and liabilities on a fair value basis. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company follows Financial Accounting Standards Board (“FASB”) guidance establishing a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value.

Asset Retirement Obligations

3 Months Ended

Mar. 31, 2014

Asset Retirement Obligation Disclosure [Abstract]

ASSET RETIREMENT OBLIGATIONS

owing table summarizes the changes in the Company’s asset retirement obligations for the three months ended March 31, 2014 (in thousands).




Beginning asset retirement obligations	$	7,484
Liabilities incurred during period	358
Liabilities settled during period	(22		)
Revisions in estimated cash flows	1,489
Accretion expense	117
Ending asset retirement obligations	9,426
Less: current asset retirement obligations⁽¹⁾	(407		)
Long-term asset retirement obligations	$	9,019

_______________


⁽¹⁾	Included in accrued liabilities in the Company’s unaudited condensed consolidated balance sheet at March 31, 2014.

Revolving Credit Agreement

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

REVOLVING CREDIT AGREEMENT

On September 28, 2012, the Company amended and restated its revolving credit agreement. This third amended and restated credit agreement (the “Credit Agreement”) increased the maximum facility amount from $400.0 million to $500.0 million. The Credit Agreement matures December 29, 2016. MRC Energy Company is the borrower under the Credit Agreement. Borrowings are secured by mortgages on substantially all of the Company’s oil and natural gas properties and by the equity interests of all of MRC Energy Company’s wholly-owned subsidiaries, which are also guarantors. In addition, all obligations under the Credit Agreement are guaranteed by Matador, the parent corporation. Various commodity hedging agreements with certain of the lenders under the Credit Agreement (or affiliates thereof) are also secured by the collateral of and guaranteed by the eligible subsidiaries of MRC Energy Company.

The borrowing base under the Credit Agreement is determined semi-annually as of May 1 and November 1 by the lenders based primarily on the estimated value of the Company’s proved oil and natural gas reserves at December 31 and June 30 of each year, respectively. Both the Company and the lenders may request an unscheduled redetermination of the borrowing base once each between scheduled redetermination dates. During the first quarter of 2014, the lenders completed their review of the Company’s estimated total proved oil and natural gas reserves at December 31, 2013, and as a result, on March 12, 2014, the borrowing base under the Credit Agreement was increased to $385.0 million, and the conforming borrowing base was increased to $310.0 million. At that time, the Company amended the Credit Agreement to, among other things, provide that the borrowing base will automatically be reduced to the conforming borrowing base at the earlier of (i) June 30, 2015 or (ii) concurrent with the issuance by the Company of senior unsecured notes in an amount greater than or equal to $10.0 million. The Credit Agreement was also amended to eliminate the current ratio covenant and to increase the debt to EBITDA ratio covenant, which is defined as total debt outstanding divided by a rolling four quarter EBITDA calculation, to 4.25 or less. Furthermore, the interest rate charged to the Company based on its outstanding level of borrowings was reduced by 0.25% across the borrowing grid as a result of this amendment. This March 2014 redetermination constituted the regularly scheduled May 1 redetermination. The Company may request one additional unscheduled redetermination of its borrowing base prior to the next scheduled redetermination. The Company expects additional increases to the borrowing base primarily as a result of anticipated increases in its proved oil and natural gas reserves, and particularly its proved developed oil and natural gas reserves.

In the event of a borrowing base increase, the Company is required to pay a fee to the lenders equal to a percentage of the amount of the increase, which is determined based on market conditions at the time of the borrowing base increase. Total deferred loan costs were $2.6 million at March 31, 2014, and these costs are being amortized over the term of the agreement, which approximates the amortization of these costs using the effective interest method. If, upon a redetermination or the automatic reduction of the borrowing base to the conforming borrowing base, the borrowing base were to be less than the outstanding borrowings under the Credit Agreement at any time, the Company would be required to provide additional collateral satisfactory in nature and value to the lenders to increase the borrowing base to an amount sufficient to cover such excess or to repay the deficit in equal installments over a period of six months.

At March 31, 2014, the Company had $270.0 million in borrowings outstanding under the Credit Agreement and approximately $0.3 million in outstanding letters of credit issued pursuant to the Credit Agreement. At March 31, 2014, the Company’s outstanding borrowings bore interest at an effective interest rate of approximately 3.5% per annum. From April 1, 2014 through May 6, 2014, the Company borrowed an additional $30.0 million under the Credit Agreement to finance a portion of its working capital requirements and capital expenditures and the acquisition of additional leasehold interests. At May 6, 2014, the Company had $300.0 million in borrowings outstanding under the Credit Agreement and approximately $0.6 million in outstanding letters of credit issued pursuant to the Credit Agreement.

If the Company borrows funds as a base rate loan, such borrowings will bear interest at a rate equal to the higher of (i) the prime rate for such day, (ii) the Federal Funds Effective Rate on such day, plus 0.50% or (iii) the daily adjusting LIBOR rate plus 1.0% plus, in each case, an amount from 0.50% to 2.75% of such outstanding loan depending on the level of borrowings under the agreement. If the Company borrows funds as a Eurodollar loan, such borrowings will bear interest at a rate equal to (i) the quotient obtained by dividing (A) the LIBOR rate by (B) a percentage equal to 100% minus the maximum rate during such interest calculation period at which RBC is required to maintain reserves on Eurocurrency Liabilities (as defined in Regulation D of the Board of Governors of the Federal Reserve System) plus (ii) an amount from 1.50% to 3.75% of such outstanding loan depending on the level of borrowings under the Credit Agreement. The interest period for Eurodollar borrowings may be one, two, three or six months as designated by the Company. A commitment fee of 0.375% to 0.50%, depending on the unused availability under the Credit Agreement, is also paid quarterly in arrears. The Company includes this commitment fee, any amortization of deferred financing costs (including origination, borrowing base increase and amendment fees) and annual agency fees as interest expense and in its interest rate calculations and related disclosures. The Credit Agreement requires the Company to maintain a debt to EBITDA ratio, which is defined as total debt outstanding divided by a rolling four quarter EBITDA calculation, of 4.25 or less.

Subject to certain exceptions, the Credit Agreement contains various covenants that limit the Company’s ability to take certain actions, including, but not limited to, the following:


•	incur indebtedness or grant liens on any of the Company’s assets;


•	enter into commodity hedging agreements;


•	declare or pay dividends, distributions or redemptions;


•	merge or consolidate;


•	make any loans or investments;


•	engage in transactions with affiliates; and


•	engage in certain asset dispositions, including a sale of all or substantially all of the Company’s assets.

If an event of default exists under the Credit Agreement, the lenders will be able to accelerate the maturity of the borrowings and exercise other rights and remedies. Events of default include, but are not limited to, the following events:


•	failure to pay any principal or interest on the notes or any reimbursement obligation under any letter of credit when due or any fees or other amounts within certain grace periods;


•	failure to perform or otherwise comply with the covenants and obligations in the Credit Agreement or other loan documents, subject, in certain instances, to certain grace periods;


•	bankruptcy or insolvency events involving the Company or its subsidiaries; and


•	a change of control, as defined in the Credit Agreement.

At March 31, 2014, the Company believes that it was in compliance with the terms of its Credit Agreement.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2014
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company had an effective tax rate of 36.8% for the three months ended March 31, 2014. Total income tax expense for the three months ended March 31, 2014 differed from amounts computed by applying the U.S. federal statutory tax rates to pre-tax income due to the impact of permanent differences between book and taxable income. The Company had a net loss for the three months ended March 31, 2013.

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	In February and March 2014, the Company granted awards of options to certain of its employees to purchase 49,721 shares of the Company’s common stock at an exercise price of $19.71, 224,962 shares at an exercise price of $23.40 and 75,247 shares at an exercise price of $22.66. The fair value of these awards was approximately $3.3 million. The Company also granted awards of 150,854 shares of restricted stock to certain of its employees in February and March 2014. The fair value of these restricted stock awards was approximately $3.4 million. All of these awards vest over a term of three or four years.

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

From time to time, the Company uses derivative financial instruments to mitigate its exposure to commodity price risk associated with oil, natural gas and natural gas liquids prices. These instruments consist of put and call options in the form of costless collars and swap contracts. The Company records derivative financial instruments in its consolidated balance sheet as either assets or liabilities measured at fair value. The Company has elected not to apply hedge accounting for its existing derivative financial instruments. As a result, the Company recognizes the change in derivative fair value between reporting periods currently in its consolidated statement of operations as an unrealized gain or unrealized loss. The fair value of the Company’s derivative financial instruments is determined using industry-standard models that consider various inputs including: (i) quoted forward prices for commodities, (ii) time value of money and (iii) current market and contractual prices for the underlying instruments, as well as other relevant economic measures. RBC, Comerica Bank, The Bank of Nova Scotia and SunTrust Bank (or affiliates thereof) were the counterparties for the Company’s commodity derivatives at March 31, 2014. The Company has considered the credit standings of the counterparties in determining the fair value of its derivative financial instruments.

The Company has entered into various costless collar contracts to mitigate its exposure to fluctuations in oil prices, each with an established price floor and ceiling. For each calculation period, the specified price for determining the realized gain or loss pursuant to any of these transactions is the arithmetic average of the settlement prices for the NYMEX West Texas Intermediate oil futures contract for the first nearby month corresponding to the calculation period’s calendar month. When the settlement price is below the price floor established by one or more of these collars, the Company receives from the counterparty an amount equal to the difference between the settlement price and the price floor multiplied by the contract oil volume. When the settlement price is above the price ceiling established by one or more of these collars, the Company pays to the counterparty an amount equal to the difference between the settlement price and the price ceiling multiplied by the contract oil volume.

The Company has entered into various costless collar transactions for natural gas, each with an established price floor and ceiling. For each calculation period, the specified price for determining the realized gain or loss to the Company pursuant to any of these transactions is the settlement price for the NYMEX Henry Hub natural gas futures contract for the delivery month corresponding to the calculation period’s calendar month for the settlement date of that contract period. When the settlement price is below the price floor established by one or more of these collars, the Company receives from the counterparty an amount equal to the difference between the settlement price and the price floor multiplied by the contract natural gas volume. When the settlement price is above the price ceiling established by one or more of these collars, the Company pays to the counterparty an amount equal to the difference between the settlement price and the price ceiling multiplied by the contract natural gas volume.

The Company has entered into various swap contracts to mitigate its exposure to fluctuations in natural gas liquids (“NGL”) prices, each with an established fixed price. For each calculation period, the settlement price for determining the realized gain or loss to the Company pursuant to any of these transactions is the arithmetic average of any current month for delivery on the nearby month futures contracts of the underlying commodity as stated on the “Mont Belvieu Spot Gas Liquids Prices: NON-TET prop” on the pricing date. When the settlement price is below the fixed price established by one or more of these swaps, the Company receives from the counterparty an amount equal to the difference between the settlement price and the fixed price multiplied by the contract NGL volume. When the settlement price is above the fixed price established by one or more of these swaps, the Company pays to the counterparty an amount equal to the difference between the settlement price and the fixed price multiplied by the contract NGL volume.

At March 31, 2014, the Company had various costless collar contracts open and in place to mitigate its exposure to oil and natural gas price volatility, each with a specific term (calculation period), notional quantity (volume hedged) and price floor and ceiling. Each contract is set to expire at varying times during 2014 and 2015.

At March 31, 2014, the Company had various swap contracts open and in place to mitigate its exposure to NGL price volatility, each with a specific term (calculation period), notional quantity (volume hedged) and fixed price. Each contract is set to expire at varying times during 2014 and 2015.

The following is a summary of the Company’s open costless collar contracts for oil and natural gas and open swap contracts for NGL at March 31, 2014.



Commodity	Calculation Period	Notional Quantity (Bbl/month)	Price Floor ($/Bbl)	Price Ceiling ($/Bbl)	Fair Value of Asset (Liability) (thousands)
Oil	04/01/2014 - 06/30/2014	8,000	90.00	114.00	$	4
Oil	04/01/2014 - 06/30/2014	12,000	90.00	115.50	6
Oil	04/01/2014 - 12/31/2014	10,000	85.00	100.55	(141		)
Oil	04/01/2014 - 12/31/2014	12,200	85.00	100.40	(180		)
Oil	04/01/2014 - 12/31/2014	15,000	85.00	97.50	(423		)
Oil	04/01/2014 - 12/31/2014	30,000	85.00	98.00	(786		)
Oil	04/01/2014 - 12/31/2014	12,000	85.00	100.00	(196		)
Oil	04/01/2014 - 12/31/2014	15,000	87.00	97.00	(429		)
Oil	04/01/2014 - 12/31/2014	20,000	88.00	95.60	(711		)
Oil	04/01/2014 - 12/31/2014	20,000	90.00	97.00	(495		)
Oil	04/01/2014 - 12/31/2014	12,000	90.00	97.90	(233		)
Oil	04/01/2014 - 12/31/2014	15,000	90.00	97.90	(295		)
Oil	04/01/2014 - 12/31/2014	15,000	90.00	98.00	(293		)
Oil	04/01/2014 - 12/31/2014	15,000	90.00	101.15	(77		)
Total open oil costless collar contracts					(4,249		)



Commodity	Calculation Period	Notional Quantity (MMBtu/month)	Price Floor ($/MMBtu)	Price Ceiling ($/MMBtu)	Fair Value of Asset (Liability) (thousands)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.00	5.15	(87	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.25	5.21	(74	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.25	5.22	(74	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.25	5.37	(58	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.25	5.42	(54	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.50	4.90	(103	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.75	4.75	(110	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.75	4.77	(103	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	4.00	4.60	(100	)
Natural Gas	04/01/2014 - 12/31/2015	100,000	3.75	4.36	(420	)
Natural Gas	04/01/2014 - 12/31/2015	100,000	3.75	4.45	(334	)
Natural Gas	01/01/2015 - 12/31/2015	100,000	3.75	4.60	(78	)
Natural Gas	01/01/2015 - 03/31/2015	200,000	4.00	4.84	(122	)
Natural Gas	01/01/2015 - 12/31/2015	100,000	3.75	4.65	(65	)
Natural Gas	01/01/2015 - 12/31/2015	200,000	3.75	5.04	67
Total open natural gas costless collar contracts					(1,715	)



Commodity	Calculation Period	Notional Quantity (Gal/month)	Fixed Price ($/Gal)	Fair Value of Asset (Liability) (thousands)
Propane	04/01/2014 - 12/31/2014	116,000	0.950	(130		)
Propane	04/01/2014 - 12/31/2014	84,000	1.143	51
Propane	04/01/2014 - 12/31/2014	68,000	1.150	48
Propane	04/01/2014 - 12/31/2014	116,000	1.003	(76		)
Propane	04/01/2014 - 12/31/2014	60,000	1.015	(32		)
Propane	01/01/2015 - 12/31/2015	150,000	1.000	(59		)
Propane	01/01/2015 - 12/31/2015	68,000	1.073	32
Normal Butane	04/01/2014 - 12/31/2014	17,500	1.540	41
Normal Butane	04/01/2014 - 12/31/2014	45,500	1.550	112
Isobutane	04/01/2014 - 12/31/2014	22,000	1.640	69
Isobutane	04/01/2014 - 12/31/2014	37,000	1.640	116
Natural Gasoline	04/01/2014 - 12/31/2014	30,000	1.970	(36		)
Natural Gasoline	04/01/2014 - 12/31/2014	41,000	2.000	(33		)
Total open NGL swap contracts				103
Total open derivative financial instruments				$	(5,861	)

These derivative financial instruments are subject to master netting arrangements within specific commodity types, i.e., oil, natural gas and NGL, by counterparty. Derivative financial instruments with Counterparty A are not subject to master netting across commodity types, while derivative financial instruments with Counterparties B, C and D allow for cross-commodity master netting provided the settlement dates for the commodities are the same. The Company does not present different types of commodities with the same counterparty on a net basis in its consolidated balance sheet.

The following table presents the gross asset balances of the Company’s derivative financial instruments, the amounts subject to master netting arrangements, the amounts that the Company has presented on a net basis, the amounts subject to master netting across different commodity types that were presented on a gross basis and the location of these balances in its unaudited condensed consolidated balance sheet as of March 31, 2014 (in thousands).



Derivative Instruments	Gross amounts of recognized assets		Gross amounts netted in the condensed consolidated balance sheet			Net amounts of assets presented in the condensed consolidated balance sheet		Amounts subject to master netting arrangements presented on a gross basis
Counterparty A
Current assets	$	766	$	(766	)	$	—	$	—
Other assets	—		—			—		—
Counterparty B
Current assets	805		(805		)	—		—
Other assets	604		(353		)	251		—
Counterparty C
Current assets	1,789		(1,690		)	99		99
Other assets	653		(637		)	16		11
Counterparty D
Current assets	43		(43		)	—		—
Other assets	—		—			—		—
Total	$	4,660	$	(4,294	)	$	366	$	110

The following table presents the gross liability balances of the Company’s derivative financial instruments, the amounts subject to master netting arrangements, the amounts that the Company has presented on a net basis, the amounts subject to master netting across different commodity types that were presented on a gross basis and the location of these balances in its unaudited condensed consolidated balance sheet as of March 31, 2014 (in thousands).



Derivative Instruments	Gross amounts of recognized liabilities		Gross amounts netted in the condensed consolidated balance sheet			Net amounts of liabilities presented in the condensed consolidated balance sheet		Amounts subject to master netting arrangements presented on a gross basis
Counterparty A
Current liabilities	$	2,331	$	(766	)	$	1,565	$	—
Other liabilities	—		—			—		—
Counterparty B
Current liabilities	2,282		(805		)	1,477		—
Other liabilities	353		(353		)	—		—
Counterparty C
Current liabilities	4,765		(1,690		)	3,075		99
Other liabilities	637		(637		)	—		11
Counterparty D
Current liabilities	153		(43		)	110		—
Other liabilities	—		—			—		—
Total	$	10,521	$	(4,294	)	$	6,227	$	110



Derivative Instruments	Gross amounts of recognized assets		Gross amounts netted in the condensed consolidated balance sheet			Net amounts of assets presented in the condensed consolidated balance sheet		Amounts subject to master netting arrangements presented on a gross basis
Counterparty A
Current assets	$	1,746	$	(1,746	)	$	—	—
Other assets	—		—			—		—
Counterparty B
Current assets	1,371		(1,371		)	—		—
Other assets	841		(668		)	173		—
Counterparty C
Current assets	2,886		(2,873		)	13		—
Other assets	1,046		(1,046		)	—		—
Counterparty D
Current assets	6		—			6		—
Other assets	—		—			—		—
Total	$	7,896	$	(7,704	)	$	192	$	—



Derivative Instruments	Gross amounts of recognized liabilities		Gross amounts netted in the condensed consolidated balance sheet			Net amounts of liabilities presented in the condensed consolidated balance sheet		Amounts subject to master netting arrangements presented on a gross basis
Counterparty A
Current liabilities	$	2,550	$	(1,746	)	$	804	$	—
Other liabilities	—		—			—		—
Counterparty B
Current liabilities	2,136		(1,371		)	765		—
Other liabilities	668		(668		)	—		—
Counterparty C
Current liabilities	3,996		(2,873		)	1,123		—
Other liabilities	1,299		(1,046		)	253		—
Counterparty D
Current liabilities	—		—			—		—
Other liabilities	—		—			—		—
Total	$	10,649	$	(7,704	)	$	2,945	$	—

The following table summarizes the location and aggregate fair value of all derivative financial instruments recorded in the unaudited condensed consolidated statements of operations for the periods presented (in thousands). These derivative financial instruments are not designated as hedging instruments.



		Three Months Ended March 31,
Type of Instrument	Location in Condensed Consolidated Statement of Operations	2014			2013
Derivative Instrument
Oil	Revenues: Realized loss on derivatives	$	(942	)	$	(237	)
Natural Gas	Revenues: Realized (loss) gain on derivatives	(589		)	524
NGL	Revenues: Realized (loss) gain on derivatives	(312		)	105
Realized (loss) gain on derivatives		(1,843		)	392
Oil	Revenues: Unrealized loss on derivatives	(2,050		)	(2,728		)
Natural Gas	Revenues: Unrealized loss on derivatives	(1,267		)	(2,511		)
NGL	Revenues: Unrealized gain on derivatives	209			414
Unrealized loss on derivatives		(3,108		)	(4,825		)
Total		$	(4,951	)	$	(4,433	)

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Fair Value Measurements

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The Company measures and reports certain financial and non-financial assets and liabilities on a fair value basis. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). Fair value measurements are classified and disclosed in one of the following categories.


Level 1	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Active markets are considered to be those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2

Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. This category includes those derivative instruments that are valued with industry standard models that consider various inputs including: (i) quoted forward prices for commodities, (ii) time value of money and (iii) current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these inputs are observable in the marketplace throughout the full term of the derivative instrument and can be derived from observable data or supported by observable levels at which transactions are executed in the marketplace.


Level 3	Unobservable inputs that are not corroborated by market data. This category is comprised of financial and non-financial assets and liabilities whose fair value is estimated based on internally developed models or methodologies using significant inputs that are generally less readily observable from objective sources.

Financial and non-financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels.

At March 31, 2014 and December 31, 2013, the carrying values reported on the unaudited condensed consolidated balance sheets for accounts receivable, prepaid expenses, accounts payable, accrued liabilities, royalties payable, income taxes payable and other current liabilities approximate their fair values due to their short-term maturities.

At March 31, 2014 and December 31, 2013, the carrying value of borrowings under the Credit Agreement approximates fair value, as it is subject to short-term floating interest rates that reflect market rates available to the Company at the time, and is classified at Level 2.

The following tables summarize the valuation of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis in accordance with the classifications provided above as of March 31, 2014 and December 31, 2013 (in thousands).



	Fair Value Measurements at March 31, 2014 using
Description	Level 1		Level 2			Level 3		Total
Assets (Liabilities)
Oil, natural gas and NGL derivatives	$	—	$	366		$	—	$	366
Oil, natural gas and NGL derivatives	—		(6,227		)	—		(6,227		)
Total	$	—	$	(5,861	)	$	—	$	(5,861	)



	Fair Value Measurements at December 31, 2013 using
Description	Level 1		Level 2			Level 3		Total
Assets (Liabilities)
Oil, natural gas and NGL derivatives	$	—	$	192		$	—	$	192
Oil, natural gas and NGL derivatives	—		(2,945		)	—		(2,945		)
Total	$	—	$	(2,753	)	$	—	$	(2,753	)

Additional disclosures related to derivative financial instruments are provided in Note 7. For purposes of fair value measurement, the Company determined that derivative financial instruments (e.g., oil, natural gas and NGL derivatives) should be classified at Level 2.

The Company accounts for additions and revisions to asset retirement obligations and lease and well equipment inventory when adjusted for impairment at fair value on a non-recurring basis and has determined that these fair value measurements should be classified at Level 3. The following tables summarize the valuation of the Company’s assets and liabilities that were accounted for at fair value on a non-recurring basis for the periods ended March 31, 2014 and December 31, 2013 (in thousands).



	Fair Value Measurements at March 31, 2014 using
Description	Level 1		Level 2		Level 3			Total
Assets (Liabilities)
Asset retirement obligations	$	—	$	—	$	(1,847	)	$	(1,847	)
Total	$	—	$	—	$	(1,847	)	$	(1,847	)



	Fair Value Measurements at December 31, 2013 using
Description	Level 1		Level 2		Level 3			Total
Assets (Liabilities)
Asset retirement obligations	$	—	$	—	$	(1,470	)	$	(1,470	)
Total	$	—	$	—	$	(1,470	)	$	(1,470	)

No impairment to any equipment was recorded during the three months ended March 31, 2014 and December 31, 2013.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Office Lease The Company’s corporate headquarters are located at One Lincoln Centre, 5400 LBJ Freeway, Suite 1500, Dallas, Texas 75240. The square footage of the corporate headquarters is 40,071 square feet and the lease expires on June 30, 2022. Rent expense, including fees for operating expenses and consumption of electricity, was $0.2 million and $0.2 million for the three months ended March 31, 2014 and 2013, respectively. Natural Gas and NGL Processing and Transportation Commitments Effective September 1, 2012, the Company entered into a firm five-year natural gas processing and transportation agreement whereby the Company committed to transport the anticipated natural gas production from a significant portion of its Eagle Ford acreage in South Texas through the counterparty’s system for processing at the counterparty’s facilities. The agreement also includes firm transportation of the natural gas liquids extracted at the counterparty’s processing plant downstream for fractionation. After processing, the residue natural gas is purchased by the counterparty at the tailgate of its processing plant and further transported under its natural gas transportation agreements. The arrangement contains fixed processing and liquids transportation and fractionation fees, and the revenue the Company receives varies with the quality of natural gas transported to the processing facilities and the contract period. Under this agreement, if the Company does not meet 80% of the maximum thermal quantity transportation and processing commitments in a contract year, it will be required to pay a deficiency fee per MMBtu of natural gas deficiency. Any quantity in excess of the maximum MMBtu delivered in a contract year can be carried over to the next contract year for purposes of calculating the natural gas deficiency. During certain prior periods, the Company had an immaterial natural gas deficiency, and the counterparty to this agreement waived the deficiency fee. The Company’s remaining aggregate undiscounted minimum commitments under this agreement are $9.2 million at March 31, 2014. The Company paid approximately $1.2 million and $0.3 million in processing and transportation fees under this agreement during the three months ended March 31, 2014 and 2013, respectively. Other Commitments From time to time, the Company enters into contracts with third parties for drilling rigs. These contracts establish daily rates for the drilling rigs and the term of the Company’s commitment for the drilling services to be provided, which are typically for one year or less. The Company would incur a termination obligation if the Company elected to terminate a contract and the drilling contractor were unable to secure work for the contracted drilling rigs or if the drilling contractor were unable to secure work for the contracted drilling rigs at the same daily rates being charged to the Company prior to the end of their respective contract terms. The Company’s maximum outstanding aggregate termination obligations under its drilling rig contracts were approximately $12.9 million at March 31, 2014. At March 31, 2014, the Company had agreed to participate in the drilling and completion of various non-operated wells. If all of these wells are drilled and completed, the Company will have minimum outstanding aggregate commitments for its participation in these wells of approximately $21.2 million at March 31, 2014, which it expects to incur within the next few months. Legal Proceedings The Company is a defendant in several lawsuits encountered in the ordinary course of its business. In the opinion of management, it is remote that these lawsuits will have a material adverse impact on the Company’s financial position, results of operations or cash flows.

Supplemental Disclosures

3 Months Ended

Mar. 31, 2014

Supplemental Disclosures [Abstract]

SUPPLEMENTAL DISCLOSURES

Accrued Liabilities

The following table summarizes the Company’s current accrued liabilities at March 31, 2014 and December 31, 2013 (in thousands).



	March 31, 2014		December 31, 2013
Accrued evaluated and unproved and unevaluated property costs	$	93,965	$	52,605
Accrued support equipment and facilities costs	437		—
Accrued stock-based compensation	85		56
Accrued lease operating expenses	8,385		6,251
Accrued interest on borrowings under Credit Agreement	268		141
Accrued asset retirement obligations	407		175
Accrued partners’ share of joint interest charges	2,364		1,173
Other	3,247		3,586
Total accrued liabilities	$	109,158	$	63,987

Supplemental Cash Flow Information

The following table provides supplemental disclosures of cash flow information for the three months ended March 31, 2014 and 2013 (in thousands).



	Three Months Ended March 31,
	2014		2013
Cash paid for interest expense, net of amounts capitalized	$	1,269	$	1,359
Asset retirement obligations related to mineral properties	1,715		626
Asset retirement obligations related to support equipment and facilities	111		30
Increase (decrease) in liabilities for oil and natural gas properties capital expenditures	42,012		(15,590		)
Increase (decrease) in liabilities for support equipment and facilities	437		(1,065		)
Issuance of restricted stock units for Board and advisor services	96		47
Issuance of common stock for advisor services	6		8
Stock-based compensation expense recognized as liability	677		30
Transfer of inventory from oil and natural gas properties	107		211

Subsidiary Guarantors	3 Months Ended
Subsidiary Guarantors	Mar. 31, 2014
Subsidiary Guarantors [Abstract]
SUBSIDIARY GUARANTORS	SUBSIDIARY GUARANTORS Matador filed a registration statement on Form S-3 with the SEC, which became effective May 9, 2013, and registered, among other securities, senior and subordinated debt securities. The subsidiaries of Matador (the “Subsidiaries”) are co-registrants with Matador, and the registration statement registers guarantees of debt securities by the Subsidiaries. As of March 31, 2014, the Subsidiaries are 100% owned by Matador and any guarantees by the Subsidiaries will be full and unconditional (except for customary release provisions). Matador has no assets or operations independent of the Subsidiaries, and there are no significant restrictions upon the ability of the Subsidiaries to distribute funds to Matador. In the event that more than one of the Subsidiaries provide guarantees of any debt securities issued by Matador, such guarantees will constitute joint and several obligations.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2014
Accounting Policies [Abstract]
Interim Financial Statements, Basis of Presentation, Consolidation and Significant Estimates	Interim Financial Statements, Basis of Presentation, Consolidation and Significant Estimates The unaudited condensed consolidated financial statements of Matador and its subsidiaries have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) but do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC (the “Annual Report”). All intercompany accounts and transactions have been eliminated in consolidation. In management’s opinion, these interim unaudited condensed consolidated financial statements include all adjustments of a normal recurring nature necessary for a fair presentation of the Company’s consolidated financial position as of March 31, 2014, consolidated results of operations for the three months ended March 31, 2014 and 2013, consolidated changes in shareholders’ equity for the three months ended March 31, 2014 and consolidated cash flows for the three months ended March 31, 2014 and 2013. Amounts as of December 31, 2013 are derived from the audited consolidated financial statements in the Annual Report. Accounting measurements at interim dates inherently involve greater reliance on estimates than at year end and the results for the interim periods shown in this report are not necessarily indicative of results to be expected for the full year due in part to volatility in oil, natural gas and natural gas liquids prices, global economic and financial market conditions, interest rates, access to sources of liquidity, estimates of reserves, drilling risks, geological risks, transportation restrictions, oil, natural gas and natural gas liquids supply and demand, market competition and interruptions of production. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions may also affect disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s consolidated financial statements are based on a number of significant estimates, including accruals for oil and natural gas revenues, accrued assets and liabilities primarily related to oil and natural gas operations, stock-based compensation, valuation of derivative instruments and oil and natural gas reserves. The estimates of oil and natural gas reserves quantities and future net cash flows are the basis for the calculations of depletion and impairment of oil and natural gas properties, as well as estimates of asset retirement obligations and certain tax accruals. While the Company believes its estimates are reasonable, changes in facts and assumptions or the discovery of new information may result in revised estimates. Actual results could differ from these estimates.
Property and Equipment	Property and Equipment The Company uses the full-cost method of accounting for its investments in oil and natural gas properties. Under this method of accounting, all costs associated with the acquisition, exploration and development of oil and natural gas properties and reserves, including unproved and unevaluated property costs, are capitalized as incurred and accumulated in a single cost center representing the Company’s activities, which are undertaken exclusively in the United States. Such costs include lease acquisition costs, geological and geophysical expenditures, lease rentals on undeveloped properties, costs of drilling both productive and non-productive wells, capitalized interest on qualifying projects and general and administrative expenses directly related to acquisition, exploration and development activities, but do not include any costs related to production, selling or general corporate administrative activities. The Company capitalized approximately $0.9 million and $0.7 million of its general and administrative costs for the three months ended March 31, 2014 and 2013, respectively. The Company capitalized approximately $0.7 million and $0.3 million of its interest expense for the three months ended March 31, 2014 and 2013, respectively. The net capitalized costs of oil and natural gas properties are limited to the lower of unamortized costs less related deferred income taxes or the cost center “ceiling.” The cost center ceiling is defined as the sum of: (a) the present value, discounted at 10%, of future net revenues of proved oil and natural gas reserves, reduced by the estimated costs of developing these reserves, plus (b) unproved and unevaluated property costs not being amortized, plus (c) the lower of cost or estimated fair value of unproved and unevaluated properties included in the costs being amortized, if any, less (d) income tax effects related to the properties involved. Any excess of the Company’s net capitalized costs above the cost center ceiling as described above is charged to operations as a full-cost ceiling impairment. The need for a full-cost ceiling impairment is required to be assessed on a quarterly basis. The fair value of the Company’s derivative instruments is not included in the ceiling test computation as the Company does not designate these instruments as hedge instruments for accounting purposes. The estimated present value of after-tax future net cash flows from proved oil and natural gas reserves is highly dependent upon the quantities of proved reserves which requires substantial judgment. The associated commodity prices and applicable discount rate used in these estimates are in accordance with guidelines established by the SEC. Under these guidelines, oil and natural gas reserves are estimated using then-current operating and economic conditions, with no provision for price and cost escalations in future periods except by contractual arrangements. Future net revenues are calculated using prices that represent the arithmetic averages of first-day-of-the-month oil and natural gas prices for the previous 12-month period and dictate that a 10% discount factor be used. For the period from April 2013 through March 2014, these average oil and natural gas prices were $94.92 per barrel (“Bbl”) and $3.989 per million British thermal units (“MMBtu”), respectively. For the period from April 2012 through March 2013, these average oil and natural gas prices were $89.17 per Bbl and $2.950 per MMBtu, respectively. In estimating the present value of after-tax future net cash flows from proved oil and natural gas reserves, the average oil prices were adjusted by property for quality, transportation and marketing fees and regional price differentials, and the average natural gas prices were adjusted by property for energy content, transportation and marketing fees and regional price differentials. At March 31, 2014 and 2013, the Company’s oil and natural gas reserves estimates were prepared by the Company’s engineering staff in accordance with guidelines established by the SEC and then audited for their reasonableness and conformance with SEC guidelines by Netherland, Sewell & Associates, Inc., independent reservoir engineers. Using the average commodity prices, as adjusted, to determine the Company’s estimated proved oil and natural gas reserves at March 31, 2014, the Company’s net capitalized costs less related deferred income taxes did not exceed the full-cost ceiling. As a result, the Company recorded no impairment to its net capitalized costs for the three months ended March 31, 2014. Using the average commodity prices, as adjusted, to determine the Company’s estimated proved oil and natural gas reserves at March 31, 2013, the Company’s net capitalized costs less related deferred income taxes exceeded the full-cost ceiling by $13.7 million. The Company recorded an impairment charge of $21.2 million to its net capitalized costs and a deferred income tax credit of $7.5 million related to the full-cost ceiling limitation at March 31, 2013. At March 31, 2013, the Company retained a full valuation allowance against its deferred tax assets, and as a result, the income tax benefit of $7.5 million is not reflected in the Company’s unaudited condensed consolidated statement of operations for the three months ended March 31, 2013. As a non-cash item, the full-cost ceiling impairment impacts the accumulated depletion and the net carrying value of the Company’s assets on its consolidated balance sheet, as well as the corresponding consolidated shareholders’ equity, but it has no impact on the Company’s consolidated net cash flows as reported. Changes in oil and natural gas production rates, oil and natural gas prices, reserves estimates, future development costs and other factors will determine the Company’s actual ceiling test computation and impairment analyses in future periods. Capitalized costs of oil and natural gas properties are amortized using the unit-of-production method based upon production and estimates of proved reserves quantities. Unproved and unevaluated property costs are excluded from the amortization base used to determine depletion. Unproved and unevaluated properties are assessed for possible impairment on a periodic basis based upon changes in operating or economic conditions. This assessment includes consideration of the following factors, among others: the assignment of proved reserves, geological and geophysical evaluations, intent to drill, remaining lease term and drilling activity and results. Upon impairment, the costs of the unproved and unevaluated properties are immediately included in the amortization base. Exploratory dry holes are included in the amortization base immediately upon determination that the well is not productive.
Earnings Per Common Share	Earnings (Loss) Per Common Share
Fair Value Measurements	Fair Value Measurements The Company measures and reports certain assets and liabilities on a fair value basis. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company follows Financial Accounting Standards Board (“FASB”) guidance establishing a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value.

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Reconciliations of basic and diluted distributed and undistributed earnings (loss) per common share



	Three Months Ended March 31,
	2014	2013
Weighted average common shares outstanding
Basic	65,684	55,272
Dilutive effect of options and restricted stock units	545	—
Diluted weighted average common shares outstanding	66,229	55,272

Asset Retirement Obligations (Tables)

3 Months Ended

Mar. 31, 2014

Asset Retirement Obligation Disclosure [Abstract]

Schedule of changes in Company's asset retirement obligations

The following table summarizes the changes in the Company’s asset retirement obligations for the three months ended March 31, 2014 (in thousands).




Beginning asset retirement obligations	$	7,484
Liabilities incurred during period	358
Liabilities settled during period	(22		)
Revisions in estimated cash flows	1,489
Accretion expense	117
Ending asset retirement obligations	9,426
Less: current asset retirement obligations⁽¹⁾	(407		)
Long-term asset retirement obligations	$	9,019

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Open Option Contracts Written [Line Items]

Summary of gross asset balances of derivative instruments



Derivative Instruments	Gross amounts of recognized assets		Gross amounts netted in the condensed consolidated balance sheet			Net amounts of assets presented in the condensed consolidated balance sheet		Amounts subject to master netting arrangements presented on a gross basis
Counterparty A
Current assets	$	1,746	$	(1,746	)	$	—	—
Other assets	—		—			—		—
Counterparty B
Current assets	1,371		(1,371		)	—		—
Other assets	841		(668		)	173		—
Counterparty C
Current assets	2,886		(2,873		)	13		—
Other assets	1,046		(1,046		)	—		—
Counterparty D
Current assets	6		—			6		—
Other assets	—		—			—		—
Total	$	7,896	$	(7,704	)	$	192	$	—



Derivative Instruments	Gross amounts of recognized assets		Gross amounts netted in the condensed consolidated balance sheet			Net amounts of assets presented in the condensed consolidated balance sheet		Amounts subject to master netting arrangements presented on a gross basis
Counterparty A
Current assets	$	766	$	(766	)	$	—	$	—
Other assets	—		—			—		—
Counterparty B
Current assets	805		(805		)	—		—
Other assets	604		(353		)	251		—
Counterparty C
Current assets	1,789		(1,690		)	99		99
Other assets	653		(637		)	16		11
Counterparty D
Current assets	43		(43		)	—		—
Other assets	—		—			—		—
Total	$	4,660	$	(4,294	)	$	366	$	110

Summary of gross liability balances of derivative instruments



Derivative Instruments	Gross amounts of recognized liabilities		Gross amounts netted in the condensed consolidated balance sheet			Net amounts of liabilities presented in the condensed consolidated balance sheet		Amounts subject to master netting arrangements presented on a gross basis
Counterparty A
Current liabilities	$	2,331	$	(766	)	$	1,565	$	—
Other liabilities	—		—			—		—
Counterparty B
Current liabilities	2,282		(805		)	1,477		—
Other liabilities	353		(353		)	—		—
Counterparty C
Current liabilities	4,765		(1,690		)	3,075		99
Other liabilities	637		(637		)	—		11
Counterparty D
Current liabilities	153		(43		)	110		—
Other liabilities	—		—			—		—
Total	$	10,521	$	(4,294	)	$	6,227	$	110



Derivative Instruments	Gross amounts of recognized liabilities		Gross amounts netted in the condensed consolidated balance sheet			Net amounts of liabilities presented in the condensed consolidated balance sheet		Amounts subject to master netting arrangements presented on a gross basis
Counterparty A
Current liabilities	$	2,550	$	(1,746	)	$	804	$	—
Other liabilities	—		—			—		—
Counterparty B
Current liabilities	2,136		(1,371		)	765		—
Other liabilities	668		(668		)	—		—
Counterparty C
Current liabilities	3,996		(2,873		)	1,123		—
Other liabilities	1,299		(1,046		)	253		—
Counterparty D
Current liabilities	—		—			—		—
Other liabilities	—		—			—		—
Total	$	10,649	$	(7,704	)	$	2,945	$	—

Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations



		Three Months Ended March 31,
Type of Instrument	Location in Condensed Consolidated Statement of Operations	2014			2013
Derivative Instrument
Oil	Revenues: Realized loss on derivatives	$	(942	)	$	(237	)
Natural Gas	Revenues: Realized (loss) gain on derivatives	(589		)	524
NGL	Revenues: Realized (loss) gain on derivatives	(312		)	105
Realized (loss) gain on derivatives		(1,843		)	392
Oil	Revenues: Unrealized loss on derivatives	(2,050		)	(2,728		)
Natural Gas	Revenues: Unrealized loss on derivatives	(1,267		)	(2,511		)
NGL	Revenues: Unrealized gain on derivatives	209			414
Unrealized loss on derivatives		(3,108		)	(4,825		)
Total		$	(4,951	)	$	(4,433	)

Open costless collar contracts [Member]

Open Option Contracts Written [Line Items]

Summary of contracts for oil and natural gas

The following is a summary of the Company’s open costless collar contracts for oil and natural gas and open swap contracts for NGL at March 31, 2014.



Commodity	Calculation Period	Notional Quantity (Bbl/month)	Price Floor ($/Bbl)	Price Ceiling ($/Bbl)	Fair Value of Asset (Liability) (thousands)
Oil	04/01/2014 - 06/30/2014	8,000	90.00	114.00	$	4
Oil	04/01/2014 - 06/30/2014	12,000	90.00	115.50	6
Oil	04/01/2014 - 12/31/2014	10,000	85.00	100.55	(141		)
Oil	04/01/2014 - 12/31/2014	12,200	85.00	100.40	(180		)
Oil	04/01/2014 - 12/31/2014	15,000	85.00	97.50	(423		)
Oil	04/01/2014 - 12/31/2014	30,000	85.00	98.00	(786		)
Oil	04/01/2014 - 12/31/2014	12,000	85.00	100.00	(196		)
Oil	04/01/2014 - 12/31/2014	15,000	87.00	97.00	(429		)
Oil	04/01/2014 - 12/31/2014	20,000	88.00	95.60	(711		)
Oil	04/01/2014 - 12/31/2014	20,000	90.00	97.00	(495		)
Oil	04/01/2014 - 12/31/2014	12,000	90.00	97.90	(233		)
Oil	04/01/2014 - 12/31/2014	15,000	90.00	97.90	(295		)
Oil	04/01/2014 - 12/31/2014	15,000	90.00	98.00	(293		)
Oil	04/01/2014 - 12/31/2014	15,000	90.00	101.15	(77		)
Total open oil costless collar contracts					(4,249		)



Commodity	Calculation Period	Notional Quantity (MMBtu/month)	Price Floor ($/MMBtu)	Price Ceiling ($/MMBtu)	Fair Value of Asset (Liability) (thousands)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.00	5.15	(87	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.25	5.21	(74	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.25	5.22	(74	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.25	5.37	(58	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.25	5.42	(54	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.50	4.90	(103	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.75	4.75	(110	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	3.75	4.77	(103	)
Natural Gas	04/01/2014 - 12/31/2014	100,000	4.00	4.60	(100	)
Natural Gas	04/01/2014 - 12/31/2015	100,000	3.75	4.36	(420	)
Natural Gas	04/01/2014 - 12/31/2015	100,000	3.75	4.45	(334	)
Natural Gas	01/01/2015 - 12/31/2015	100,000	3.75	4.60	(78	)
Natural Gas	01/01/2015 - 03/31/2015	200,000	4.00	4.84	(122	)
Natural Gas	01/01/2015 - 12/31/2015	100,000	3.75	4.65	(65	)
Natural Gas	01/01/2015 - 12/31/2015	200,000	3.75	5.04	67
Total open natural gas costless collar contracts					(1,715	)

Open Swap Contracts [Member]

Open Option Contracts Written [Line Items]

Summary of contracts for oil and natural gas



Commodity	Calculation Period	Notional Quantity (Gal/month)	Fixed Price ($/Gal)	Fair Value of Asset (Liability) (thousands)
Propane	04/01/2014 - 12/31/2014	116,000	0.950	(130		)
Propane	04/01/2014 - 12/31/2014	84,000	1.143	51
Propane	04/01/2014 - 12/31/2014	68,000	1.150	48
Propane	04/01/2014 - 12/31/2014	116,000	1.003	(76		)
Propane	04/01/2014 - 12/31/2014	60,000	1.015	(32		)
Propane	01/01/2015 - 12/31/2015	150,000	1.000	(59		)
Propane	01/01/2015 - 12/31/2015	68,000	1.073	32
Normal Butane	04/01/2014 - 12/31/2014	17,500	1.540	41
Normal Butane	04/01/2014 - 12/31/2014	45,500	1.550	112
Isobutane	04/01/2014 - 12/31/2014	22,000	1.640	69
Isobutane	04/01/2014 - 12/31/2014	37,000	1.640	116
Natural Gasoline	04/01/2014 - 12/31/2014	30,000	1.970	(36		)
Natural Gasoline	04/01/2014 - 12/31/2014	41,000	2.000	(33		)
Total open NGL swap contracts				103
Total open derivative financial instruments				$	(5,861	)

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Summary of the valuation of the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis



	Fair Value Measurements at March 31, 2014 using
Description	Level 1		Level 2			Level 3		Total
Assets (Liabilities)
Oil, natural gas and NGL derivatives	$	—	$	366		$	—	$	366
Oil, natural gas and NGL derivatives	—		(6,227		)	—		(6,227		)
Total	$	—	$	(5,861	)	$	—	$	(5,861	)



	Fair Value Measurements at December 31, 2013 using
Description	Level 1		Level 2			Level 3		Total
Assets (Liabilities)
Oil, natural gas and NGL derivatives	$	—	$	192		$	—	$	192
Oil, natural gas and NGL derivatives	—		(2,945		)	—		(2,945		)
Total	$	—	$	(2,753	)	$	—	$	(2,753	)

Additions to asset retirement obligations and lease and well equipment inventory at fair value on a non-recurring basis

The following tables summarize the valuation of the Company’s assets and liabilities that were accounted for at fair value on a non-recurring basis for the periods ended March 31, 2014 and December 31, 2013 (in thousands).



	Fair Value Measurements at March 31, 2014 using
Description	Level 1		Level 2		Level 3			Total
Assets (Liabilities)
Asset retirement obligations	$	—	$	—	$	(1,847	)	$	(1,847	)
Total	$	—	$	—	$	(1,847	)	$	(1,847	)



	Fair Value Measurements at December 31, 2013 using
Description	Level 1		Level 2		Level 3			Total
Assets (Liabilities)
Asset retirement obligations	$	—	$	—	$	(1,470	)	$	(1,470	)
Total	$	—	$	—	$	(1,470	)	$	(1,470	)

Supplemental Disclosures (Tables)

3 Months Ended

Mar. 31, 2014

Supplemental Disclosures [Abstract]

Summary of current accrued liabilities

The following table summarizes the Company’s current accrued liabilities at March 31, 2014 and December 31, 2013 (in thousands).



	March 31, 2014		December 31, 2013
Accrued evaluated and unproved and unevaluated property costs	$	93,965	$	52,605
Accrued support equipment and facilities costs	437		—
Accrued stock-based compensation	85		56
Accrued lease operating expenses	8,385		6,251
Accrued interest on borrowings under Credit Agreement	268		141
Accrued asset retirement obligations	407		175
Accrued partners’ share of joint interest charges	2,364		1,173
Other	3,247		3,586
Total accrued liabilities	$	109,158	$	63,987

Supplemental disclosures of cash flow information

The following table provides supplemental disclosures of cash flow information for the three months ended March 31, 2014 and 2013 (in thousands).



	Three Months Ended March 31,
	2014		2013
Cash paid for interest expense, net of amounts capitalized	$	1,269	$	1,359
Asset retirement obligations related to mineral properties	1,715		626
Asset retirement obligations related to support equipment and facilities	111		30
Increase (decrease) in liabilities for oil and natural gas properties capital expenditures	42,012		(15,590		)
Increase (decrease) in liabilities for support equipment and facilities	437		(1,065		)
Issuance of restricted stock units for Board and advisor services	96		47
Issuance of common stock for advisor services	6		8
Stock-based compensation expense recognized as liability	677		30
Transfer of inventory from oil and natural gas properties	107		211

Nature of Operations (Details)	Mar. 31, 2014 subsidiary
Nature of Operations (Textual) [Abstract]
Number of wholly owned subsidiaries	4

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net income (loss) - numerator
Net (loss) income	$ 16,363	$ (15,505)
Weighted average common shares outstanding - denominator
Dilutive effect of options and restricted stock units	545,000	0
Weighted average common shares outstanding - Diluted	66,229,000	55,272,000
Basic
Total	$ 0.25	$ (0.28)
Diluted
Total	$ 0.25	$ (0.28)
Common Class A [Member]
Weighted average common shares outstanding - denominator
Weighted average common shares outstanding for basic earnings (loss) per share	65,684,000	55,272,000
Restricted Stock Units (RSUs) [Member]
Summary of Significant Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		68,607

Summary of Significant Accounting Policies (Details Textual) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2014 USD ($) $ / shares shares	Mar. 31, 2013 USD ($) shares	Mar. 31, 2014 $ / MMBTU	Mar. 31, 2014 $ / bbl	Mar. 31, 2013 $ / BBL	Mar. 31, 2013 $ / MMBTU
Summary of Significant Accounting Policies [Line Items]
Income Tax Expense Recorded	$ 0
Summary of Significant Accounting Policies (Additional Textual) [Abstract]
Capitalized general and administrative costs	900	$ 700
Capitalized interest expense	$ (700)	(300)
Present value discounted percent of future net revenues of proved oil and natural gas reserves	10.00%
Average oil and natural gas prices			3.989	94.92	89.17	2.950
Net capitalized costs less related deferred income taxes exceeded the full-cost ceiling		13,700
Impairment charge of net capitalized costs	$ 0	21,230
Deferred income tax credit		$ 7,500
Class B [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Textual) [Abstract]
Cumulative annual dividends per share rate \| $ / shares	$ 0.66
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total options to purchase shares of the Company's common stock and restricted stock excluded from the calculations \| shares	1,293,568	1,434,861
Restricted stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total options to purchase shares of the Company's common stock and restricted stock excluded from the calculations \| shares	139,963	570,078

Asset Retirement Obligations (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Changes in the Company's asset retirement obligations

Beginning asset retirement obligations

$ 7,484

Liabilities incurred during period

358

Liabilities settled during period

(22)

Revisions in estimated cash flows

1,489

Accretion expense

117

$ 81

Ending asset retirement obligations

9,426

Less: current asset retirement obligations

^[1]

(407)

Long-term asset retirement obligations

$ 9,019

$ 7,309

[1]	Included in accrued liabilities in the Company’s unaudited condensed consolidated balance sheet at March 31, 2014.

Revolving Credit Agreement (Details) $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
Revolving Credit Agreement (Details) $ in Thousands	Mar. 31, 2014 USD ($)	Sep. 30, 2012	Mar. 31, 2014 USD ($)	Mar. 31, 2014 USD ($)	Jun. 30, 2014 USD ($)	May 06, 2014 USD ($)	Mar. 11, 2014 USD ($)	Dec. 31, 2013 USD ($)	Sep. 28, 2012 USD ($)	Sep. 27, 2012 USD ($)
Revolving Credit Agreement (Textual) [Abstract]
Senior secured revolving credit maximum facility							$ 385,000
Borrowing base							$ 310,000
Outstanding letters of credit	$ 300		$ 300	$ 300
Line of Credit Facility, Covenant, Debt to EBITDA Ratio	0			4.25
Line of Credit Facility, Interest Rate Increase (Decrease)							0.25%
Revolving Credit Agreement (Additional Textual) [Abstract]
Credit Agreement, maturity date			Dec. 29, 2016
Deferred loan costs	$ 2,600		$ 2,600	$ 2,600
Outstanding borrowings bore interest effective rate	3.50%		3.50%	3.50%
Federal Funds Effective Plus Rate	0.50%
Percentage of reserves required to maintain	100.00%
Long-term Line of Credit, Noncurrent	$ 270,000		$ 270,000	$ 270,000				$ 200,000
Second amended credit agreement [Member]
Revolving Credit Agreement (Textual) [Abstract]
Company amended and restated its senior secured revolving credit agreement		September 28, 2012
Third amended credit agreement [Member]
Revolving Credit Agreement (Textual) [Abstract]
Senior secured revolving credit maximum facility										$ 400,000
Subsequent Event [Member]
Revolving Credit Agreement (Textual) [Abstract]
Covenant, additional indebtedness					$ 10,000
Borrowed under credit agreement						$ 300,000
Additional borrowings for working capital requirements						30,000
Outstanding letters of credit						$ 600
Minimum [Member]
Revolving Credit Agreement (Textual) [Abstract]
Borrowing base									$ 500,000
Credit facility fee			0.40%
Maximum [Member]
Revolving Credit Agreement (Textual) [Abstract]
Credit facility fee			0.50%
Base Rate Loan [Member] \| Minimum [Member]
Revolving Credit Agreement (Textual) [Abstract]
Additional interest rate	0.005
Base Rate Loan [Member] \| Maximum [Member]
Revolving Credit Agreement (Textual) [Abstract]
Additional interest rate	0.0275
Eurodollar [Member] \| Minimum [Member]
Revolving Credit Agreement (Textual) [Abstract]
Additional interest rate	0.015
Eurodollar [Member] \| Maximum [Member]
Revolving Credit Agreement (Textual) [Abstract]
Additional interest rate	0.0375
Libor Rate [Member]
Revolving Credit Agreement (Textual) [Abstract]
Borrowings interest rate	1.00%

Income Taxes (Details) number in Thousands, $ in Thousands	3 Months Ended
Income Taxes (Details) number in Thousands, $ in Thousands	Mar. 31, 2014 USD ($)
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Continuing Operations	0.00%
Income Taxes (Textual) [Abstract]
Income tax expense recorded	$ 0

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions				1 Months Ended	2 Months Ended
	Mar. 18, 2014	Mar. 07, 2014	Feb. 11, 2014	Mar. 31, 2013	Mar. 31, 2014
Stock-Based Compensation (Textual) [Abstract]
Option granted to purchase shares of its common stock, Exercise price one		224,962	49,721
Option granted to purchase shares of its common stock, Exercise price two	75,247
Granted option share purchase price, per share Exercise price one		$ 23.40	$ 19.71
Granted option share purchase price, per share Exercise price two	$ 22.66
Grant date fair value, Option grants during period					$ 3.3
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of shares				3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of shares				4 years
Restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants during period				150,854
Grant date fair value, Total fair value					$ 3.4

Derivative Financial Instruments (Details) $ in Thousands	3 Months Ended
Derivative Financial Instruments (Details) $ in Thousands	Mar. 31, 2014 USD ($) bbl / mo MMBTU / mo $ / BBL $ / MMBTU $ / bbl
Summary of contracts for oil and natural gas
Fair Value of Asset (Liability)	$ (5,861)
Open costless collar contracts [Member] \| Oil [Member]
Summary of contracts for oil and natural gas
Notional Quantity \| bbl / mo	10,000
Fair Value of Asset (Liability)	$ (4,249)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 8,000 Notional Amount, 90 Price Floor, 114 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 06/30/2014
Notional Quantity \| bbl / mo	8,000
Price Floor \| $ / BBL	90
Price Ceiling \| $ / BBL	114.00
Fair Value of Asset (Liability)	$ 4
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 12,000 Notional Amount, 90 Price Floor, 115.50 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 06/30/2014
Notional Quantity \| bbl / mo	12,000
Price Floor \| $ / BBL	90.00
Price Ceiling \| $ / BBL	115.50
Fair Value of Asset (Liability)	$ 6
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 10,000 Notional Amount, 85 Price Floor, 100.55 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Price Floor \| $ / BBL	85.00
Price Ceiling \| $ / BBL	100.55
Fair Value of Asset (Liability)	$ (141)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 12,200 Notional Amount, 85 Price Floor, 100.40 Price Ceiling [Member] [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| bbl / mo	12,200
Price Floor \| $ / bbl	85.00
Price Ceiling \| $ / BBL	100.40
Fair Value of Asset (Liability)	$ (180)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 15,000 Notional Amount, 85 Price Floor, 97.50 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| bbl / mo	15,000
Price Floor \| $ / BBL	85.00
Price Ceiling \| $ / BBL	97.50
Fair Value of Asset (Liability)	$ (423)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 30,000 Notional Amount, 85 Price Floor, 98 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| bbl / mo	30,000
Price Floor \| $ / BBL	85.00
Price Ceiling \| $ / BBL	98.00
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 12,000 Notional Amount, 85 Price Floor, 100 Price Ceiling [Member] [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| bbl / mo	12,000
Price Floor \| $ / BBL	85
Price Ceiling \| $ / BBL	100
Fair Value of Asset (Liability)	$ (786)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 15,000 Notional Amount, 87 Price Floor, 97 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| bbl / mo	15,000
Price Floor \| $ / BBL	87.00
Price Ceiling \| $ / BBL	97.00
Fair Value of Asset (Liability)	$ (429)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 20,000 Notional Amount, 88 Price Floor, 95.60 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| bbl / mo	20,000
Price Floor \| $ / BBL	88.00
Price Ceiling \| $ / BBL	95.60
Fair Value of Asset (Liability)	$ (711)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 20,000 Notional Amount, 90 Price Floor, 97 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| bbl / mo	20,000
Price Floor \| $ / BBL	90.00
Price Ceiling \| $ / BBL	97.00
Fair Value of Asset (Liability)	$ (495)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 12,000 Notional Amount, 90 Price Floor, 97.90 Price Ceiling [Member] [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| bbl / mo	12,000
Price Floor \| $ / BBL	90
Price Ceiling \| $ / BBL	97.90
Fair Value of Asset (Liability)	$ (233)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 15,000 Notional Amount, 90 Price Floor, 97.90 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| bbl / mo	15,000
Price Floor \| $ / BBL	90.00
Price Ceiling \| $ / BBL	97.90
Fair Value of Asset (Liability)	$ (295)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 15,000 Notional Amount, 90 Price Floor, 98 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Notional Quantity \| bbl / mo	15,000
Price Floor \| $ / BBL	90.00
Price Ceiling \| $ / BBL	98.00
Fair Value of Asset (Liability)	$ (293)
Open costless collar contracts [Member] \| Oil [Member] \| Open Oil Collar Contract, 15,000 Notional Amount, 90 Price Floor, 101.15 Price Ceiling [Member] [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| bbl / mo	15,000
Price Floor \| $ / BBL	90
Price Ceiling \| $ / BBL	101.15
Fair Value of Asset (Liability)	$ (77)
Open costless collar contracts [Member] \| Open Oil Collar Contract, 12,200 Notional Amount, 85 Price Floor, 100.40 Price Ceiling [Member] [Member] \| Open Oil Collar Contract, 12,000 Notional Amount, 85 Price Floor, 100 Price Ceiling [Member] [Member]
Summary of contracts for oil and natural gas
Fair Value of Asset (Liability)	(196)
Open costless collar contracts [Member] \| Natural Gas [Member]
Summary of contracts for oil and natural gas
Fair Value of Asset (Liability)	$ (1,715)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3 Price Floor, 5.15 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.00
Price Ceiling \| $ / MMBTU	5.15
Fair Value of Asset (Liability)	$ (87)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.25 Price Floor, 5.21 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.25
Price Ceiling \| $ / MMBTU	5.21
Fair Value of Asset (Liability)	$ (74)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.25 Price Floor, 5.22 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.25
Price Ceiling \| $ / MMBTU	5.22
Fair Value of Asset (Liability)	$ (74)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.25 Price Floor, 5.37 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.25
Price Ceiling \| $ / MMBTU	5.37
Fair Value of Asset (Liability)	$ (58)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.25 Price Floor, 5.42 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.25
Price Ceiling \| $ / MMBTU	5.42
Fair Value of Asset (Liability)	$ (54)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.50 Price Floor, 4.90 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.50
Price Ceiling \| $ / MMBTU	4.90
Fair Value of Asset (Liability)	$ (103)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.75 Price Floor, 4.75 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| MMBTU / mo	100,000
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.75 Price Floor, 4.77 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.75
Price Ceiling \| $ / MMBTU	4.77
Fair Value of Asset (Liability)	$ (103)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 4.00 Price Floor, 4.60 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	4.00
Price Ceiling \| $ / MMBTU	4.60
Fair Value of Asset (Liability)	$ (100)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.75 Price Floor, 4.36 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2015
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.75
Price Ceiling \| $ / MMBTU	4.36
Fair Value of Asset (Liability)	$ (420)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.75Price Floor, 4.45 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	04/01/2014 - 12/31/2015
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.75
Price Ceiling \| $ / MMBTU	4.45
Fair Value of Asset (Liability)	$ (334)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.75 Price Floor, 4.60 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	01/01/2015 - 12/31/2015
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.75
Price Ceiling \| $ / MMBTU	4.60
Fair Value of Asset (Liability)	$ (78)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 200,000 Notional Amount, 4.00 Price Floor, 4.84 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	01/01/2015 - 03/31/2015
Notional Quantity \| MMBTU / mo	200,000
Price Floor \| $ / MMBTU	4.00
Price Ceiling \| $ / MMBTU	4.84
Fair Value of Asset (Liability)	$ (122)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.75 Price Floor, 4.65 Price Ceiling [Member] [Member]
Summary of contracts for oil and natural gas
Calculation Period	01/01/2015 - 12/31/2015
Notional Quantity \| MMBTU / mo	100,000
Price Floor \| $ / MMBTU	3.75
Price Ceiling \| $ / MMBTU	4.65
Fair Value of Asset (Liability)	$ (65)
Open costless collar contracts [Member] \| Natural Gas [Member] \| Open Natural Gas Collar Contract, 200,000 Notional Amount, 3.75 Price Floor, 5.04 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Calculation Period	01/01/2015 - 12/31/2015
Notional Quantity \| MMBTU / mo	200,000
Price Floor \| $ / MMBTU	3.75
Price Ceiling \| $ / MMBTU	5.04
Fair Value of Asset (Liability)	$ 67
Open costless collar contracts [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.75 Price Floor, 4.75 Price Ceiling [Member] \| Open Natural Gas Collar Contract, 100,000 Notional Amount, 3.50 Price Floor, 4.90 Price Ceiling [Member]
Summary of contracts for oil and natural gas
Price Floor \| $ / MMBTU	3.75
Price Ceiling \| $ / MMBTU	4.75
Fair Value of Asset (Liability)	$ (110)

Derivative Financial Instruments (Details 1) $ in Thousands	3 Months Ended
Derivative Financial Instruments (Details 1) $ in Thousands	Mar. 31, 2014 USD ($) gal / mo $ / Gallons
Open swap contracts for natural gas liquid
Fair Value of Asset (Liability)	$ (5,861)
NGL's [Member] \| Open Swap Contract [Member]
Open swap contracts for natural gas liquid
Fair Value of Asset (Liability)	$ 103
NGL's [Member] \| Open Swap Contract [Member] \| NGL Propane Swap Contract, 116,000 Notional Amount, 0.950 Fixed Price [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	116,000
Fixed Price \| $ / Gallons	0.950
Fair Value of Asset (Liability)	$ (130)
NGL's [Member] \| Open Swap Contract [Member] \| NGL Propane Swap Contract, 84,000 Notional Amount, 1.143 Fixed Price [Member] [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	84,000
Fixed Price \| $ / Gallons	1.143
Fair Value of Asset (Liability)	$ 51
NGL's [Member] \| Open Swap Contract [Member] \| NGL Propane Swap Contract, 68,000 Notional Amount, 1.150 Fixed Price [Member] [Member] [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	68,000
Fixed Price \| $ / Gallons	1.150
Fair Value of Asset (Liability)	$ 48
NGL's [Member] \| Open Swap Contract [Member] \| NGL Propane Swap Contract, 116,000 Notional Amount, 1.003 Fixed Price [Member] [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	116,000
Fixed Price \| $ / Gallons	1.0025
Fair Value of Asset (Liability)	$ (76)
NGL's [Member] \| Open Swap Contract [Member] \| NGL Propane Swap Contract, 60,000 Notional Amount, 1.015 Fixed Price [Member] [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	60,000
Fixed Price \| $ / Gallons	1.015
Fair Value of Asset (Liability)	$ (32)
NGL's [Member] \| Open Swap Contract [Member] \| NGL Normal Butane Swap Contract, 14,700 Notional Amount, 1.455 Fixed Price [Member]
Open swap contracts for natural gas liquid
Calculation Period	01/01/2015 - 12/31/2015
Notional Quantity \| gal / mo	150,000
Fixed Price \| $ / Gallons	1.000
Fair Value of Asset (Liability)	$ (59)
NGL's [Member] \| Open Swap Contract [Member] \| NGL Normal Butane Swap Contract, 14,700 Notional Amount, 1.560 Fixed Price [Member]
Open swap contracts for natural gas liquid
Calculation Period	01/01/2015 - 12/31/2015
Notional Quantity \| gal / mo	68,000
Fixed Price \| $ / Gallons	1.073
Fair Value of Asset (Liability)	$ 32
NGL's [Member] \| Open Swap Contract [Member] \| NGL Normal Butane Swap Contract, 17,500 Notional Amount, 1.540 Fixed Price [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	17,500
Fixed Price \| $ / Gallons	1.540
Fair Value of Asset (Liability)	$ 41
NGL's [Member] \| Open Swap Contract [Member] \| NGL Normal Butane Swap Contract, 45,500 Notional Amount, 1.550 Fixed Price [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	45,500
Fixed Price \| $ / Gallons	1.550
Fair Value of Asset (Liability)	$ 112
NGL's [Member] \| Open Swap Contract [Member] \| NGL Isobutane Swap Contract, 22,000 Notional Amount, 1.640 Fixed Price [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	22,000
Fixed Price \| $ / Gallons	1.640
Fair Value of Asset (Liability)	$ 69
NGL's [Member] \| Open Swap Contract [Member] \| NGL Isobutane Swap Contract, 37,000 Notional Amount, 1.640 Fixed Price [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	37,000
Fixed Price \| $ / Gallons	1.640
Fair Value of Asset (Liability)	$ 116
NGL's [Member] \| Open Swap Contract [Member] \| NGL Natural Gasoline Swap Contract, 30,000 Notional Amount, 1.970 Fixed Price [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	30,000
Fixed Price \| $ / Gallons	1.970
Fair Value of Asset (Liability)	$ (36)
NGL's [Member] \| Open Swap Contract [Member] \| NGL Natural Gasoline Swap Contract, 41,000 Notional Amount, 2.000 Fixed Price [Member]
Open swap contracts for natural gas liquid
Calculation Period	04/01/2014 - 12/31/2014
Notional Quantity \| gal / mo	41,000
Fixed Price \| $ / Gallons	2.00
Fair Value of Asset (Liability)	$ (33)

Derivative Financial Instruments (Details 2) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Summary of gross asset balances of derivative instruments
Gross amounts of recognized assets	$ 4,660	$ 7,896
Gross amounts netted in the consolidated balance sheet	(4,294)	(7,704)
Net amounts of assets presented in the condensed consolidated balance sheet	366	192
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	(110)
Amounts subject to master netting arrangements presented on a gross basis		0
Counterparty A [Member] \| Other Current Assets [Member]
Summary of gross asset balances of derivative instruments
Gross amounts of recognized assets	766	1,746
Gross amounts netted in the consolidated balance sheet	(766)	(1,746)
Net amounts of assets presented in the condensed consolidated balance sheet	0	0
Amounts subject to master netting arrangements presented on a gross basis	0
Counterparty A [Member] \| Other Noncurrent Assets [Member]
Summary of gross asset balances of derivative instruments
Gross amounts of recognized assets	0	0
Gross amounts netted in the consolidated balance sheet	0	0
Net amounts of assets presented in the condensed consolidated balance sheet	0	0
Amounts subject to master netting arrangements presented on a gross basis	0
Counterparty B [Member]
Summary of gross asset balances of derivative instruments
Amounts subject to master netting arrangements presented on a gross basis	0
Counterparty B [Member] \| Other Current Assets [Member]
Summary of gross asset balances of derivative instruments
Gross amounts of recognized assets	805	1,371
Gross amounts netted in the consolidated balance sheet	(805)	(1,371)
Net amounts of assets presented in the condensed consolidated balance sheet	0	0
Amounts subject to master netting arrangements presented on a gross basis	0
Counterparty B [Member] \| Other Noncurrent Assets [Member]
Summary of gross asset balances of derivative instruments
Gross amounts of recognized assets	604	841
Gross amounts netted in the consolidated balance sheet	(353)	(668)
Net amounts of assets presented in the condensed consolidated balance sheet	251	173
Counterparty C [Member] \| Other Current Assets [Member]
Summary of gross asset balances of derivative instruments
Gross amounts of recognized assets	1,789	2,886
Gross amounts netted in the consolidated balance sheet	(1,690)	(2,873)
Net amounts of assets presented in the condensed consolidated balance sheet	99	13
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	99
Counterparty C [Member] \| Other Noncurrent Assets [Member]
Summary of gross asset balances of derivative instruments
Gross amounts of recognized assets	653	1,046
Gross amounts netted in the consolidated balance sheet	(637)	(1,046)
Net amounts of assets presented in the condensed consolidated balance sheet	16	0
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	11
Counterparty D [Member] \| Other Current Assets [Member]
Summary of gross asset balances of derivative instruments
Gross amounts of recognized assets	43	6
Gross amounts netted in the consolidated balance sheet	(43)	0
Net amounts of assets presented in the condensed consolidated balance sheet	0	6
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	0
Counterparty D [Member] \| Other Noncurrent Assets [Member]
Summary of gross asset balances of derivative instruments
Gross amounts of recognized assets	0	0
Gross amounts netted in the consolidated balance sheet	0	0
Net amounts of assets presented in the condensed consolidated balance sheet	0	$ 0
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	$ 0

Derivative Financial Instruments (Details 3) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	$ 10,521	$ 10,649
Gross amounts netted in the consolidated balance sheet	(4,294)	(7,704)
Net amounts of liabilities presented in the condensed consolidated balance sheet	6,227	2,945
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	(110)
Amounts subject to master netting arrangements presented on a gross basis		0
Counterparty A [Member] \| Other Current Liabilities [Member]
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	2,331	2,550
Gross amounts netted in the consolidated balance sheet	(766)	(1,746)
Net amounts of liabilities presented in the condensed consolidated balance sheet	1,565	804
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	0	0
Counterparty A [Member] \| Other Noncurrent Liabilities [Member]
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	0	0
Gross amounts netted in the consolidated balance sheet	0	0
Net amounts of liabilities presented in the condensed consolidated balance sheet	0	0
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	0	0
Counterparty B [Member]
Summary of gross liability balances of derivative instruments
Amounts subject to master netting arrangements presented on a gross basis	0	0
Counterparty B [Member] \| Other Current Liabilities [Member]
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	2,282	2,136
Gross amounts netted in the consolidated balance sheet	(805)	(1,371)
Net amounts of liabilities presented in the condensed consolidated balance sheet	1,477	765
Counterparty B [Member] \| Other Noncurrent Liabilities [Member]
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	353	668
Gross amounts netted in the consolidated balance sheet	(353)	(668)
Net amounts of liabilities presented in the condensed consolidated balance sheet	0	0
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	0	0
Counterparty C [Member] \| Other Current Liabilities [Member]
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	4,765	3,996
Gross amounts netted in the consolidated balance sheet	(1,690)	(2,873)
Net amounts of liabilities presented in the condensed consolidated balance sheet	3,075	1,123
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	99	0
Counterparty C [Member] \| Other Noncurrent Liabilities [Member]
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	637	1,299
Gross amounts netted in the consolidated balance sheet	(637)	(1,046)
Net amounts of liabilities presented in the condensed consolidated balance sheet	0	253
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	11	0
Counterparty D [Member] \| Other Current Liabilities [Member]
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	153	0
Gross amounts netted in the consolidated balance sheet	(43)	0
Net amounts of liabilities presented in the condensed consolidated balance sheet	110	0
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	0	0
Counterparty D [Member] \| Other Noncurrent Liabilities [Member]
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	0	0
Gross amounts netted in the consolidated balance sheet	0	0
Net amounts of liabilities presented in the condensed consolidated balance sheet	0	0
Derivative Asset, Fair Value, Subject to Master Netting, Gross Asset Basis	$ 0	$ 0

Derivative Financial Instruments (Details 4) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
Realized (loss) gain on derivatives	$ (1,843)	$ 392
Unrealized gain (loss) on derivatives	(3,108)	(4,825)
Total	(4,951)	(4,433)
Revenues [Member]
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
Realized (loss) gain on derivatives	(1,843)	392
Unrealized gain (loss) on derivatives	(3,108)	(4,825)
Oil [Member] \| Revenues [Member]
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
Realized (loss) gain on derivatives	(942)	(237)
Unrealized gain (loss) on derivatives	(2,050)	(2,728)
Natural Gas [Member] \| Revenues [Member]
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
Realized (loss) gain on derivatives	(589)	524
Unrealized gain (loss) on derivatives	(1,267)	(2,511)
NGL's [Member] \| Revenues [Member]
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
Realized (loss) gain on derivatives	(312)	105
Unrealized gain (loss) on derivatives	$ 209	$ 414

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Assets (Liabilities)
Oil, natural gas and NGL derivatives	$ (5,861)
Fair value on a recurring basis [Member]
Assets (Liabilities)
Total	(5,861)
Fair value on a recurring basis [Member] \| Natural Gas [Member]
Assets (Liabilities)
Oil, natural gas and NGL derivatives	366	$ 192
Fair value on a recurring basis [Member] \| Oil [Member]
Assets (Liabilities)
Oil, natural gas and NGL derivatives	(6,227)	(2,945)
Fair value on a recurring basis [Member] \| Level 1 [Member]
Assets (Liabilities)
Total
Fair value on a recurring basis [Member] \| Level 1 [Member] \| Natural Gas [Member]
Assets (Liabilities)
Oil, natural gas and NGL derivatives	0	0
Fair value on a recurring basis [Member] \| Level 1 [Member] \| Oil [Member]
Assets (Liabilities)
Oil, natural gas and NGL derivatives	0	0
Fair value on a recurring basis [Member] \| Level 2 [Member]
Assets (Liabilities)
Total	(5,861)
Fair value on a recurring basis [Member] \| Level 2 [Member] \| Natural Gas [Member]
Assets (Liabilities)
Oil, natural gas and NGL derivatives	366	192
Fair value on a recurring basis [Member] \| Level 2 [Member] \| Oil [Member]
Assets (Liabilities)
Oil, natural gas and NGL derivatives	(6,227)	(2,945)
Fair value on a recurring basis [Member] \| Level 3 [Member]
Assets (Liabilities)
Total
Fair value on a recurring basis [Member] \| Level 3 [Member] \| Natural Gas [Member]
Assets (Liabilities)
Oil, natural gas and NGL derivatives	0	0
Fair value on a recurring basis [Member] \| Level 3 [Member] \| Oil [Member]
Assets (Liabilities)
Oil, natural gas and NGL derivatives	$ 0	$ 0

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Assets (Liabilities)
Lease and well equipment inventory	$ 923	$ 785
Fair value on a non-recurring basis [Member]
Assets (Liabilities)
Total	(1,847)	(1,470)
Fair value on a non-recurring basis [Member] \| Asset retirement obligations [Member]
Assets (Liabilities)
Asset retirement obligations	(1,847)	(1,470)
Fair value on a non-recurring basis [Member] \| Level 1 [Member]
Assets (Liabilities)
Total
Fair value on a non-recurring basis [Member] \| Level 1 [Member] \| Asset retirement obligations [Member]
Assets (Liabilities)
Asset retirement obligations	0	0
Fair value on a non-recurring basis [Member] \| Level 2 [Member]
Assets (Liabilities)
Total
Fair value on a non-recurring basis [Member] \| Level 2 [Member] \| Asset retirement obligations [Member]
Assets (Liabilities)
Asset retirement obligations	0	0
Fair value on a non-recurring basis [Member] \| Level 3 [Member]
Assets (Liabilities)
Total	(1,847)	(1,470)
Fair value on a non-recurring basis [Member] \| Level 3 [Member] \| Asset retirement obligations [Member]
Assets (Liabilities)
Asset retirement obligations		$ (1,470)
Asset Retirement Obligation, Period Increase (Decrease)	$ (1,847)

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2014 USD ($)	Mar. 31, 2013 USD ($)	Dec. 31, 2013 ft²
Commitments and Contingencies (Textual) [Abstract]
Lease period	Jun. 30, 2022
Maximum termination outstanding obligations of contracts	$ 12.9
Operating Leases, Rent Expense, Net	$ 0.2	$ 0.2
Commitments and Contingencies (Additional Textual) [Abstract]
Natural gas processing and transportation agreement	5 years
Minimum delivery commitment to avoid paying gas deficiency fee	80.00%
Undiscounted minimum commitments	$ 9.2
Minimum outstanding commitments	$ 21.2
Lease expiring period	Jun. 30, 2022
Lease agreements [Member]
Commitments and Contingencies (Textual) [Abstract]
Transportation and processing fee under the agreement	$ 1.2	$ 0.3
Lease agreements [Member] \| Area of Land [Member] \| Maximum [Member]
Commitments and Contingencies (Textual) [Abstract]
Office space of headquarters \| ft²			40,071

Supplemental Disclosures (Details) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Summary of current accrued liabilities
Other	$ 3,247	$ 3,586
Total accrued liabilities	109,158	63,987
Accrued evaluated and unproved and unevaluated property costs [Member]
Summary of current accrued liabilities
Total accrued liabilities	93,965	52,605
Accrued support equipment and facilities costs [Member]
Summary of current accrued liabilities
Total accrued liabilities	437	0
Accrued stock-based compensation [Member]
Summary of current accrued liabilities
Total accrued liabilities	85	56
Accrued lease operating expenses [Member]
Summary of current accrued liabilities
Total accrued liabilities	8,385	6,251
Accrued interest on borrowings under Credit Agreement [Member]
Summary of current accrued liabilities
Total accrued liabilities	268	141
Accrued asset retirement obligations [Member]
Summary of current accrued liabilities
Total accrued liabilities	407	175
Accrued partners share of joint interest charges [Member]
Summary of current accrued liabilities
Total accrued liabilities	$ 2,364	$ 1,173

Supplemental Disclosures (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Supplemental disclosures of cash flow information
Cash paid for interest expense, net of amounts capitalized	$ 1,269	$ 1,359
asset retirement obligations related to mineral properties	1,715	626
Asset retirement obligations related to support equipment and facilities	111	30
(Decrease) increase in liabilities for oil and natural gas properties capital expenditures	42,012	(15,590)
(Decrease) increase in liabilities for support equipment and facilities	437	(1,065)
Issuance of restricted stock units for Board and advisor services	96	47
Issuance of common stock for advisor services	6	8
Stock based compensation expense recognized as liability	677	30
Transfer of inventory to oil and natural gas properties	$ 107	$ 211

Subsidiary Guarantors (Details)	Mar. 31, 2014
Subsidiary Guarantors (Textual) [Abstract]
Ownership on subsidiaries	100.00%