View Filing Data

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2012	Nov. 16, 2012
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3
Entity Registrant Name	Diamondback Energy, Inc.
Entity Central Index Key	0001539838
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		36,986,532

Consolidated Balance Sheet - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 1,275	$ 6,802
Accounts receivable:
Joint interest and other	3,010	3,734
Oil and natural gas sales	5,172	839
Related party	10,041	13,123
Inventories	6,310	6,006
Prepaid expenses and other	1,096	428
Total current assets	26,904	30,932
Property and equipment
Oil and natural gas properties, at cost, based on the full cost method of accounting ($7,342,000 and $1,732,000 excluded from amortization at September 30, 2012 and December 31, 2011, respectively)	410,806	325,510
Other property and equipment	2,277	1,017
Accumulated depletion, depreciation, amortization and impairment	(135,733)	(119,500)
Property and equipment, net of accumulated depreciation, depletion, amortization and impairment	277,350	207,027
Investments-equity method	0	10,310
Other assets	3,513	1,215
Total assets	307,767	249,484
Current liabilities:
Accounts payable trade	22,683	8,770
Accounts payable-related party	1,066	3,436
Accrued capital expenditures	11,465	13,923
Other accrued liabilities	6,114	4,804
Revenues and royalties payable	2,426	3,165
Derivative contracts	6,185	8,320
Note payable-short term	133	0
Note payable credit facility-short term	10,000	0
Total current liabilities	60,072	42,418
Note payable-long term	230	0
Note payable credit facility-long term	90,000	85,000
Note payable-related party-long term	30,045	0
Derivative contracts	1,556	6,139
Asset retirement obligations	1,264	1,080
Total liabilities	183,167	134,637
Contingencies (Note 13)
Members' equity	124,600	114,847
Total liabilities and members' equity	$ 307,767	$ 249,484

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Statement of Financial Position [Abstract]
Oil and natural gas properties excluded from amortization	$ 7,343	$ 1,732

Consolidated Statement of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Revenues:
Oil sales	$ 14,314	$ 1,282	$ 42,703	$ 1,920
Oil sales - related party	0	8,274	0	26,692
Natural gas sales	208	181	605	726
Natural gas sales - related party	369	207	631	399
Natural gas liquid sales	672	590	2,246	2,137
Natural gas liquid sales - related party	1,035	437	2,171	1,135
Oil and natural gas services - related party	0	0	0	1,491
Total revenues	16,598	10,971	48,356	34,500
Costs and expenses:
Lease operating expenses	3,613	2,035	9,187	5,797
Lease operating expenses - related party	269	1,084	830	1,607
Production taxes	716	244	2,166	419
Production taxes - related party	99	291	199	1,210
Gathering and transportation	9	12	61	29
Gathering and transportation - related party	108	41	203	110
Oil and natural gas services	0	0	0	1,207
Oil and natural gas services - related party	0	0	0	526
Depreciation, Depletion and Amortization	6,066	3,680		11,121
Depreciation, Depletion and Amortization, Net of Depreciation Reported in Oil and Natural Gas Services			16,302	11,624
General and administrative expenses	1,314	129	2,759	328
General and administrative expenses - related party	340	626	1,709	1,848
Asset retirement obligation accretion expense	22	17	62	45
Total costs and expenses	12,556	8,159	33,478	24,247
Income from operations	4,042	2,812	14,878	10,253
Other income (expense)
Interest income	1	2	3	9
Interest expense	(1,130)	(718)	(3,184)	(1,815)
Other income - related party	671	0	1,729	0
Gain (loss) on derivative contracts	(3,148)	(7)	2,017	(35)
Loss from equity investment	0	0	(67)	0
Total other income (expense), net	(3,606)	(723)	498	(1,841)
Net income	436	2,089	15,376	8,412
Pro Forma information
Net income before income taxes, as reported	436	2,089	15,376	8,412
Pro forma provision for income tax	0	0	0	0
Pro forma net income	$ 436	$ 2,089	$ 15,376	$ 8,412
Pro forma income per common share - basic and diluted	$ 0.03	$ 0.15	$ 1.10	$ 0.60
Weighted average pro forma shares outstanding - basic and diluted	14,000	14,000	14,000	14,000

Consolidated Statement of Changes in Members' Equity $ in Thousands	USD ($)
Balance at beginning of period at Dec. 31, 2010	$ 105,638
Increase (Decrease) in Partners' Capital [Roll Forward]
Contributions	710
Equity based compensation	259
Net income	8,412
Balance at end of period at Sep. 30, 2011	115,019
Balance at beginning of period at Dec. 31, 2011	114,847
Increase (Decrease) in Partners' Capital [Roll Forward]
Contributions	4,008
Distribution of equity method investments	(10,504)
Equity based compensation	873
Net income	15,376
Balance at end of period at Sep. 30, 2012	$ 124,600

- Definition

The amount of ownership interest of different classes of partners in limited partnership.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591552-111686

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a),(c)
-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A1, A4, A5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Consoildated Statement of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Cash flows from operating activities:
Net income	$ 15,376	$ 8,412
Adjustments to reconcile net income to net cash provided by operating activities:
Asset retirement obligation accretion expense	62	45
Depreciation, depletion and amortization	16,302	11,624
Amortization of debt issuance costs	347	235
(Gain) loss on derivative contracts	(2,017)	35
Loss from equity investment	67	0
Equity-based compensation expense	873	259
Gain on sale of assets	(26)	(23)
Changes in operating assets and liabilities:
Accounts receivable	(4,256)	(4,944)
Accounts receivable-related party	3,736	(5,599)
Inventories	(44)	(888)
Prepaid expenses and other	1	(202)
Accounts payable and accrued liabilities	2,145	3,252
Accounts payable and accrued liabilities-related party	2,360	615
Revenues and royalties payable	(740)	807
Revenues and royalties payable-related party	(2,404)	412
Net cash provided by operating activities	31,782	14,040
Cash flows from investing activities:
Additions to oil and natural gas properties	(73,237)	(34,664)
Additions to oil and natural gas properties-related party	(6,592)	(14,992)
Purchase of other property and equipment	(778)	(6,950)
Proceeds from sale of property and equipment	26	55
Settlement of non-hedge derivative instruments	(7,025)	(3,091)
Receipt on derivative margins	2,325	3,152
Deconsolidation of Bison	0	(10)
Proceeds from sale of membership interest in equity investment	0	6,010
Net cash used in investing activities	(85,281)	(50,490)
Cash flows from financing activities:
Proceeds from borrowings on credit facility	15,000	35,233
Proceeds from note payable-related party	30,045	0
Debt issuance costs	(72)	(365)
Initial public offering costs	(1,009)	0
Contributions by members	4,008	710
Net cash provided by financing activities	47,972	35,578
Net decrease in cash and cash equivalents	(5,527)	(872)
Cash and cash equivalents at beginning of period	6,802	4,090
Cash and cash equivalents at end of period	1,275	3,218
Supplemental disclosure of cash flow information:
Interest paid, net of capitalized interest	2,778	1,983
Supplemental disclosure of non-cash transactions:
Asset retirement obligation incurred, including changes in estimate	141	246
Distribution of equity method investments	10,504	0
Note payable exchanged for equipment	$ 411	$ 0

Description of the Business and Basis of Presentation	9 Months Ended
Description of the Business and Basis of Presentation	Sep. 30, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Basis of Presentation	DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION Description of the Business Windsor Permian LLC (“Windsor”) is a limited liability company formed on October 23, 2007 to acquire, produce, develop and exploit oil and natural gas properties. As of and for the three and nine month periods ended September 30, 2012 and 2011 (the “Reporting Periods”), Windsor Permian LLC was a wholly owned subsidiary of Diamondback Energy LLC, an entity controlled by Wexford Capital LP, or Wexford. On October 11, 2012 Diamondback Energy LLC, merged with and into Diamondback Energy, Inc. and Diamondback Energy, Inc. continued as the surviving entity (the "Merger"). Neither Diamondback Energy LLC or Diamondback Energy, Inc. conducted any material business operations prior to October 11, 2012. Refer to Note 3 for information regarding the Diamondback Energy, Inc. initial public offering (“IPO”). As a limited liability company, the members of Windsor are not liable for the liabilities or other obligations of Windsor. Collectively, Windsor and its subsidiaries, Diamondback E&P LLC, formed on February 17, 2012, Bison Drilling and Field Services LLC (formerly known as Windsor Drilling LLC) through March 31, 2011, and West Texas Field Services LLC through its dissolution on June 12, 2012, are referred to in these financial statements as the “Company”. The Company is engaged in the acquisition, exploitation, development and production of oil and natural gas properties and related sale of oil, natural gas and natural gas liquids. The Company’s reserves are located in the Southern region of the United States. The Company’s results of operations are largely dependent on the difference between the prices received for its oil, natural gas and natural gas liquids and the cost to find, develop, produce and market such resources. Oil and natural gas prices are subject to fluctuations in response to changes in supply, market uncertainty and a variety of other factors beyond the Company’s control. These factors include worldwide political instability, quantity of natural gas in storage, foreign supply of oil and natural gas, the price of foreign imports, the level of consumer demand and the price of available alternative fuels, among others. Basis of Presentation These financial statements have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). They reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods, on a basis consistent with the annual audited financial statements. All such adjustments are of a normal recurring nature. Certain information, accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("GAAP") have been omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. For a more complete understanding of our operations, financial position and accounting policies, these financial statements should be read in conjunction with the Company’s most recent annual financial statements included in Diamondback Energy, Inc.’s final prospectus (the "final prospectus") dated October 11, 2012 and filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933 on October 15, 2012.

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2012
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES As of September 30, 2012, Windsor's significant accounting policies are consistent with those discussed in Note 2 of its consolidated financial statements contained in the final prospectus. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the Reporting Periods. Significant estimates with regard to these financial statements include the estimate of proved oil and gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, fair value estimates and asset retirement obligations. Actual results could differ from those estimates. Income Taxes The operations of the Company and its subsidiaries, as limited liability companies, are not subject to federal income taxes. As appropriate, the taxable income or loss applicable to those operations is included in the federal income tax returns of the respective owners and no income tax effect is included in the accompanying consolidated financial statements. The Company is subject to margin tax in the state of Texas. During the nine months ended September 30, 2012 and 2011, there was no margin tax expense. The Company’s 2008, 2009 and 2010 federal income tax and state margin tax returns remain open to examination by tax authorities. As of September 30, 2012 and December 31, 2011, the Company had no unrecognized tax benefits that would have a material impact on the effective rate. The Company is continuing its practice of recognizing interest and penalties related to income tax matters as interest expense and general and administrative expenses, respectively. During the nine months ended September 30, 2012 and 2011, there was no interest or penalties associated with uncertain tax positions recognized in the Company’s consolidated financial statements. Unaudited Pro Forma Income Taxes and Earnings Per Share Diamondback Energy, Inc. was formed as a holding company on December 30, 2011, and did not conduct any material business operations prior to the Merger. Diamondback Energy, Inc. is a C-Corp under the Internal Revenue Code and is subject to income taxes. Accordingly, the Company computed a pro forma income tax provision as if the Company were a C-Corp since inception. The pro forma tax provision has been calculated at a rate based upon a federal corporate level tax rate and a state tax rate, net of federal benefit, incorporating permanent differences. However, on a pro forma basis, management has determined that any net deferred income tax asset would not be realizable; therefore tax expense would be zero for all periods. Additionally, upon Windsor becoming a subsidiary of Diamondback Energy, Inc. the Company will establish a net deferred tax liability for differences between the tax and book basis of the Company’s assets and liabilities, and record a corresponding “first day” tax expense to net income from continuing operations. On a pro forma basis, at September 30, 2012 the amount of this charge would have been approximately $44.2 million. The Company has presented pro forma earnings per share for the most recent period. Pro forma basic and diluted income per share was computed by dividing net income attributable to the Company by the number of Diamondback shares of common stock attributable to the Company issued in the Merger and the Gulfport transaction, as if such shares were issued and outstanding for the nine months ended September 30, 2012. New Pronouncements Issued but Not Yet Adopted In December 2011, the FASB issued Accounting Standards Update No. 2011-11, which increases disclosures about offsetting assets and liabilities. New disclosures are required to enable users of financial statements to understand significant quantitative differences in balance sheets prepared under GAAP and International Financial Reporting Standards related to the offsetting of financial instruments. The existing GAAP guidance allowing balance sheet offsetting, including industry-specific guidance, remains unchanged. The guidance in ASU No. 2011-11 is effective for annual and interim reporting periods beginning on or after January 1, 2013. The disclosures should be applied retrospectively for all prior periods presented. The Company does not expect the adoption of this guidance to have a significant impact on its financial position, results of operations or cash flow.

Initial Public Offering of Diamondback Energy Inc.

Oct. 23, 2012

Initial Public Offering [Abstract]

Initial Public Offering of Diamonback Energy, Inc.

INITIAL PUBLIC OFFERING OF DIAMONDBACK ENERGY, INC.

On February 13, 2012, a Registration Statement on Form S-1 (SEC File No. 333-179502) was filed with the SEC relating to the proposed underwritten IPO of Diamondback Energy, Inc. Prior to the completion of the IPO, Windsor was a wholly-owned subsidiary of Diamondback Energy LLC, an entity controlled by Wexford. In connection with completion of the IPO, Diamondback Energy LLC was merged with and into Diamondback Energy, Inc. in the Merger, causing Windsor to become a wholly owned subsidiary of Diamondback Energy, Inc.

On October 11, 2012, Diamondback Energy, Inc. priced 12,500,000 shares of its common stock in its IPO at a price of $17.50 per share, and on October 12, 2012 shares of Diamondback Energy, Inc.'s common stock began trading on the Nasdaq Global Select Market under the symbol “FANG”. On October 17, 2012, Diamondback Energy, Inc. closed its IPO. On October 23, 2012, the underwriters purchased an additional1,875,000shares of common stock following the exercise in full of their over-allotment option. Diamondback Energy, Inc. received estimated net proceeds of $235.3 million from the sale of these shares of common stock, after deducting the underwriting discount, and used a portion of these net proceeds to repay: (i) $100.0 million of outstanding borrowings under its revolving credit facility, (ii) $63.6 million to Gulfport Energy Corporation; and (iii) $30.0 million of outstanding borrowings under its subordinated note with an affiliate of Wexford.

Acquisitions

9 Months Ended

Sep. 30, 2012

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

On May 7, 2012, Diamondback Energy, Inc. entered into an agreement with Gulfport Energy Corporation ("Gulfport") in which Gulfport agreed to sell to Diamondback Energy, Inc., subject to certain conditions, all of its oil and natural gas interests in the Permian Basin in exchange for shares of Diamondback Energy, Inc. common stock and a promissory note in a transaction referred to as the Gulfport transaction. The Gulfport transaction was completed in connection with completion of the IPO (see Note 3). In addition, Wexford agreed to cause all of the outstanding equity interests in Windsor UT LLC (“Windsor UT”) to be contributed to Windsor Permian prior to its merger into Diamondback Energy, Inc. in a transaction referred to as the Windsor UT contribution. The Gulfport transaction and the Windsor UT contribution are referred to as the Transactions. The acquisition of certain property interests of Gulfport (the "Gulfport properties") will be treated as a business combination accounted for under the acquisition method of accounting with the identifiable assets recognized at fair value on the date of transfer. The Windsor UT contribution is treated as a combination of entities under common control with assets and liabilities transferred at their carrying amounts in the accounts of the transferring entity at the date of transfer. The pro forma data presented reflect events directly attributable to the Transactions and certain assumptions the Company believes are reasonable.

The following unaudited summary pro forma combined statement of operations data of Diamondback Energy, Inc. for the three and nine month periods ended September 30, 2012 has been prepared to give effect to the Transactions as if they had occurred on January 1, 2011. The pro forma data are not necessarily indicative of financial results that would have been attained had the described transactions occurred on January 1, 2011. The pro forma data also necessarily exclude various operation expenses related to the Gulfport properties and the financial statements should not be viewed as indicative of operations in future periods. As the current operator of the properties acquired by the Company upon completion of the Gulfport transaction and the Windsor UT contribution, the Company does not expect any material impact from these transactions on its existing employees or infrastructure.



	Three Months Ended		Nine Months Ended
	September 30, 2012		September 30, 2011
	(Pro Forma)		(Pro Forma)
Pro forma total revenues	$	23,839,000	$	70,412,000
Pro forma income from operations	5,536,000		21,204,000
Pro forma net income⁽¹⁾	$	1,930,000	$	21,702,000

(1) Does not include pro forma income tax provision relating to becoming subject to income taxes as a result of the Merger.

Property and Equipment

9 Months Ended

Sep. 30, 2012

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment includes the following:



	September 30, 2012			December 31, 2011
	September 30, 2012			December 31, 2011
Oil and natural gas properties:
Subject to depletion	$	403,463,000		$	323,778,000
Not subject to depletion-acquisition costs
Incurred in 2012	5,632,000			—
Incurred in 2011	1,178,000			1,199,000
Incurred in 2009	533,000			533,000
Total not subject to depletion	7,343,000			1,732,000

Gross oil and natural gas properties	410,806,000			325,510,000
Less accumulated depreciation, depletion, amortization and impairment	(135,130,000		)	(119,167,000		)
Oil and natural gas properties, net	275,676,000			206,343,000

Other property and equipment	2,277,000			1,017,000
Less accumulated depreciation	(603,000		)	(333,000		)
Other property and equipment, net	1,674,000			684,000

Property and equipment, net of accumulated depreciation, depletion, amortization and impairment	$	277,350,000		$	207,027,000

Included in oil and gas properties at September 30, 2012 is the cumulative capitalization of $3,714,000 in general and administrative costs incurred and capitalized to the full cost pool. General and administrative costs capitalized to the full cost pool represent management’s estimate of costs incurred directly related to exploration and development activities such as geological and other administrative costs associated with overseeing the exploration and development activities. All general and administrative costs not directly associated with exploration and development activities were charged to expense as they were incurred. Capitalized general and administrative costs were approximately $1,068,000 and $2,843,000 for the three and nine months ended September 30, 2012, respectively, and $375,000 and $375,000 for the three and nine months ended September 30, 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Asset Retirement Obligation

9 Months Ended

Sep. 30, 2012

Asset Retirement Obligation [Abstract]

Asset Retirement Obligation

ASSET RETIREMENT OBLIGATION

A reconciliation of the asset retirement obligation for the nine months ended September 30, 2012 and 2011 is as follows:



	Nine Months Ended
	September 30,
	2012		2011
Asset retirement obligation, beginning of period	$	1,080,000	$	728,000
Additional liability incurred	141,000		246,000
Accretion expense	62,000		45,000
Asset retirement obligation, end of period	1,283,000		1,019,000
Less current portion	19,000		—
Asset retirement obligations - long-term	$	1,264,000	$	1,019,000

Equity Method Investments	9 Months Ended
Equity Method Investments	Sep. 30, 2012
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	EQUITY METHOD INVESTMENTS Bison Drilling and Field Services LLC The Company held a wholly owned subsidiary, Bison Drilling and Field Services LLC (“Bison”), formerly known as Windsor Drilling LLC, formed on November 15, 2010. In addition, the Company held a wholly owned subsidiary, West Texas Field Services LLC, formed on March 2, 2010 which, on January 1, 2011, contributed all of its assets and liabilities to Bison and subsequently dissolved on June 12, 2012. Bison owns and operates drilling rigs and various oil and gas well servicing equipment. Beginning on March 31, 2011, various related party investors contributed capital to Bison diluting the Company’s ownership interest. The Company assessed its ability to exercise financial control over Bison and based on the results of its assessment, the Company concluded it maintained significant influence but it no longer had the ability to exercise control over Bison. The Company deconsolidated Bison for financial reporting purposes as of March 31, 2011 and the previously consolidated amounts were removed from the consolidated balance sheet and reflected as an equity method investment. Under the equity method, the Company eliminated intercompany profits or losses in relation to its continuing involvement with Bison, proportionate to its equity interest. An entity is required to deconsolidate a subsidiary when the entity ceases to have a controlling financial interest in the subsidiary. Upon deconsolidation of a subsidiary, an entity recognizes a gain or loss on the transaction and measures any retained investment in the subsidiary at fair value. The gain or loss includes any gain or loss associated with the difference between the fair value of the retained investment in the subsidiary and its carrying amount at the date the subsidiary is deconsolidated. The Company internally reviewed the balance sheet of Bison to determine its fair value. At the time of the transaction Bison was still a recently formed company and had not yet built value in its operations. Bison’s assets consisted primarily of four recently purchased drilling rigs. Two of the drilling rigs were purchased at market price from a third party in December 2010 and the second two were purchased from the same third party in April 2011. The Company also reviewed pricing of similar rigs in the market through retail and auction transactions. Because the rigs had just recently been purchased and this purchase price was in line with other outside transactions the Company determined that Bison’s book value equaled fair value. There was no gain or loss recorded and the retained investment was recorded at fair value which equaled book value. In September 2011, the Company completed the sale of 25% of its membership interest in Bison to a related party. The Company internally reviewed the fair value of Bison and because the effective date of this transaction was May 1, 2011 and was within thirty days of the above valuation the Company concluded the value of Bison had not changed. The Company determined that fair value equaled book value at the date of this transaction. There was no gain or loss recorded and the retained investment was recorded at fair value which equaled book value. As of June 15, 2012, the Company distributed its remaining interest in Bison to an entity which is controlled and managed by Wexford. As the transaction was between entities under common control, the Company has recognized the distribution of $6,437,000 as an equity transaction. Bison continues to be a related party with the Company. Muskie Holdings LLC During 2011, the Company paid approximately $4,200,000 for land and various other capital items related to the land. On October 7, 2011, the Company contributed these assets to a newly formed entity, Muskie Holdings LLC, a Delaware limited liability company, for a 48.6% equity interest. Through additional contributions to Muskie from a related party and various Wexford portfolio companies, the Company’s interest in Muskie decreased to 33% as of June 15, 2012. Muskie generated a loss during the period January 1, 2012 through June 15, 2012 and the Company has recorded its share of this loss. As of June 15, 2012, the Company distributed its remaining interest in Muskie to an entity which is controlled and managed by Wexford. As the transaction was between entities under common control, the Company has recognized the distribution of $4,067,000 as an equity transaction. Muskie continues to be a related party with the Company.

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References + Details

Debt

9 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

Debt

DEBT

Credit Facility-Wells Fargo Bank

On October 15, 2010, the Company entered into a secured loan agreement with BNP Paribas (“BNP”) as the administrative agent, sole book runner and lead arranger, as amended, providing for a revolving credit facility. On May 10, 2012, the revolving credit agreement was further amended to provide for the resignation of BNP, and the appointment of Wells Fargo Bank, National Association, as administrative agent for the lenders. The aggregate maximum credit amount under the revolving credit agreement is $250.0 million notwithstanding future redeterminations of the borrowing base. The outstanding borrowings bear interest at a rate elected by the Company that is based on the prime, LIBOR or federal funds rate plus margins ranging from 1.25% to 3.50% depending on the base rate used and the amount of the loan outstanding in relation to the borrowing base.

Principal may be optionally repaid from time to time and is required to be paid (i) if the loan amount exceeds the borrowing base and (ii) at the maturity date of October 15, 2014. The Company is obligated to pay, quarterly, a commitment fee equal to 0.5% per year of the unused portion of the borrowing base. The loan is secured by substantially all of the Company’s assets. The borrowing base is re-determined semi-annually with effective dates of April 1st and October 1st (a “scheduled redetermination”). In addition, the Company may request an additional three redeterminations of the borrowing base during any 12-month period. The borrowing base was $45.0 million at December 31, 2010. The borrowing base increased throughout 2011 through various redeterminations and at December 31, 2011 the borrowing base was $100.0 million. Under the terms of the revolving credit agreement upon the closing of the IPO of Diamondback Energy Inc., the borrowing base was reduced to $90.0 million, subject to the periodic and elective borrowing base redeterminations described above. As of September 30, 2012, the Company has classified $10.0 million of the outstanding borrowings under this credit facility as short term based on management’s expectation of the timing of closing an initial public offering. As of September 30, 2012 and December 31, 2011, the Company had outstanding borrowings of $100.0 million and $85.0 million, respectively. Outstanding borrowings under the credit facility bore a weighted average interest rate of 3.72% and 3.30% as of September 30, 2012 and December 31, 2011, respectively. In connection with the IPO of Diamondback Energy, Inc., the Company repaid all outstanding borrowings under its revolving credit facility.

The agreement contains various affirmative and restrictive covenants. These covenants, among other things, prohibit additional indebtedness, sales of assets, mergers and consolidations, dividends and distributions, and changes in management and require the maintenance of various financial ratios defined below.

The current lenders and their percentage commitments in the revolving credit facility are Wells Fargo Bank, NA

(45%), Amegy Bank, NA (25%), U.S. Bank, NA (25%) and West Texas National Bank (5%).

As of July 24, 2012, the revolving credit agreement was amended and restated to include Diamondback Energy LLC and its subsidiaries as additional guarantors to the facility. The covenant prohibiting additional indebtedness was also amended to allow the issuance of unsecured debt of up to $250.0 million and, in connection with any such issuance, the reduction of the borrowing base by 25% of the principal amount of such issuance. A borrowing base reduction in connection with such issuance may require a portion of the outstanding principal of the loan to be repaid. The amendment also provided that redemptions of any unsecured debt will be restricted unless certain liquidity requirements are met. Further, the amendment modified certain financial ratios, the current requirements of which are described below.



Financial Covenant			Required Ratio
Ratio of EBITDAX to interest expense, as defined in the credit agreement			Not less than 2.5 to 1.0
Ratio of total debt to EBITDAX			Not greater than 4.5 to 1.0
Ratio of total debt to EBITDAX (after closing date of IPO)			Not greater than 4.0 to 1.0
Ratio of debt under revolving credit agreement to EBITDAX			Not greater than 3.0 to 1.0
Ratio of current assets to liabilities, as defined in the credit agreement			Not less than 1.0 to 1.0

As of July 31, 2012, the first amendment to the amended and restated credit agreement was executed, which provided for the issuance to Gulfport of the Gulfport transaction note and the payment of the Gulfport transaction note from the proceeds of the IPO.

As of September 28, 2012, the second amendment to the amended and restated credit agreement was executed, which among other things provided for an increase in permitted subordinated debt in a maximum principal amount not to exceed $45.0 million, including any such indebtedness evidenced by the Company’s subordinated note with an affiliate of Wexford described in more detail under “-Subordinated Note” below, waived compliance with the Company's current ratio covenant for the quarter ending September 30, 2012 and increased the aggregate limitation on lease payments during any period of twelve consecutive calendar months from $250,000 to $550,000.

As of September 30, 2012 and December 31, 2011, the Company was in compliance with all financial covenants under the revolving bank credit facility as in effect on the applicable date. The lenders may accelerate all of the indebtedness under the revolving bank credit facility upon the occurrence of any event of default unless the Company cures any such default within any applicable grace period. For payments of principal and interest under the revolving bank credit facility, the Company generally has a three business day grace period, and a 30-day cure period for most covenant defaults, but not for defaults of certain specific covenants, including the financial covenants and negative covenants.

Subordinated Note

Effective May 14, 2012, the Company issued a subordinated note to an affiliate of Wexford pursuant to which, as amended, the Wexford affiliate may, from time to time, advance up to an aggregate of $45.0 million. These advances are solely at the lender’s discretion and neither Wexford nor any of its affiliates has any commitment or obligation to provide further capital support to the Company. The note bears interest at a rate equal to LIBOR plus 0.28% or 8% per annum, whichever is lower. Interest is due quarterly in arrears beginning on July 1, 2012. Interest payments are payable in kind by adding such amounts to the principal balance of the note. The unpaid principal balance and all accrued interest on the note are due and payable in full on January 31, 2015 or the earlier completion of an initial public offering. Any indebtedness evidenced by this note is subordinate in the right of payment to any indebtedness outstanding under the Company’s revolving credit facility. As of September 30, 2012, there was $30.0 million in aggregate principal amount outstanding under this note. In connection with the IPO of Diamondback Energy, Inc., the Company repaid all outstanding borrowings under the subordinated note and the subordinated note was canceled.

Note Payable

The Company entered into an installment payment contract with EMC Corporation for the purchase of computer equipment. The contract is payable in equal installments over a period of 36 months. As of September 30, 2012, there was $363,000 outstanding under this note.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Derivatives

9 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

DERIVATIVES

The Company has used price swap derivatives to reduce price volatility associated with certain of its oil sales. In these swaps, the Company receives the fixed price per the contract and pays a floating market price to the counterparty based on New York Mercantile Exchange Light Sweet Crude Oil pricing. The fixed-price payment and the floating-price payment are offset, resulting in a net amount due to or from the counterparty. The counterparties to the Company’s derivative contracts are BNP Paribas (“BNP”) and Hess Corporation (“Hess”), who the Company believes are acceptable credit risks.

All derivative financial instruments are recorded on the consolidated balance sheets at fair value. The fair value of swaps is generally determined using established index prices and other sources which are based upon, among other things, futures prices and time to maturity.

On October 4, 2011, in order to lock-in prices on the anticipated base level of production, while at the same time providing downside protection for the borrowing base under the revolving credit facility, the Company executed with BNP, West Texas Intermediate light sweet crude oil swaps on the NYMEX for calendar year 2012 and 2013 of one thousand barrels per day priced at $78.50 and $80.55, respectively.

Set forth below are the summarized amounts, terms and fair values of outstanding instruments held as of September 30, 2012 and December 31, 2011.



Description and Production Period	Volume (Bbls)	Original Strike Price (per Bbl)	September 30, 2012		December 31, 2011
			Fair Value Liability		Fair Value Liability
			Fair Value Liability		Fair Value Liability
Crude Oil Swaps:
January – August 2012	244,000	$78.50	$	—	$	5,038,000
September – November 2012	91,000	$78.50	1,337,000		1,795,000
December 2012	31,000	$78.50	454,000		594,000
January – August 2013	243,000	$80.55	3,239,000		3,823,000
September – November 2013	91,000	$80.55	1,171,000		1,298,000
December 2013	31,000	$80.55	385,000		424,000

The Company enters into counter-swaps from time to time for the purpose of locking-in the value of a swap. Under the counter-swap, the Company receives a floating price for the hedged commodity and pays a fixed price to the counterparty. The counter-swap is effective in locking-in the value of a swap since subsequent changes in the market value of the swap are entirely offset by subsequent changes in the market value of the counter-swap.

In December 2007, the Company placed a swap contract with Hess covering 1,680,000 Bbls of crude oil for the period from January 2008 to December 2012 at various fixed prices. In April 2008, the Company entered into a series of counter-swaps to lock-in the value of certain of these swaps settling 1,188,000 Bbls of crude oil swaps. In June 2009, the Company entered into an additional series of counter-swaps to lock-in the value of the remaining swaps settling 324,000 Bbls of crude oil swaps.

Set forth below are the summarized amounts, terms and fair values of the locked-in swaps from the April 2008 settlements as of September 30, 2012 and December 31, 2011, respectively.



Description and Production Period	Volume (Bbls)	Original Strike Price (per Bbl)	Lock-in Price(per Bbl)	September 30, 2012		December 31, 2011
				Fair Value Liability		Fair Value Liability
				Fair Value Liability		Fair Value Liability
Crude Oil Swaps:
December 2011	22,500	$82.90	$98.50–$102.20	$	—	$	379,000
January-August 2012	180,000	$85.07	$98.25–$101.80	—		2,585,000
September-December 2012	90,000	$85.07	$98.25–$101.80	1,292,000		1,292,000

Set forth below are the summarized amounts, terms and fair values of the locked-in swaps from the June 2009 settlements as of September 30, 2012 and December 31, 2011, respectively.



Description and Production Period	Volume (Bbls)	Original Strike Price (per Bbl)	Lock-in Price(per Bbl)	September 30, 2012		December 31, 2011
				Fair Value Asset		Fair Value Asset
				Fair Value Asset		Fair Value Asset
Crude Oil Swaps:
December 2011	7,500	$82.90	$78.42	$	—	$	34,000
January-August 2012	60,000	$85.07	$80.52	—		273,000
September- December 2012	30,000	$85.07	$80.52	136,000		136,000

None of the Company’s derivatives have been designated as hedges. As such, all changes in fair value are immediately recognized in earnings. The following summarizes the loss on derivative contracts included in the consolidated statements of operations:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012			2011
Unrealized loss (gain) on open non-hedge derivative instruments	$	2,252,000	$	—	$	(6,386,000	)	$	—
Loss on settlement of non-hedge derivative instruments	896,000		7,000		4,369,000			35,000
(Gain) Loss on derivative contracts	$	3,148,000	$	7,000	$	(2,017,000	)	$	35,000

The Company is required to provide margin deposits to Hess whenever its unrealized losses exceed predetermined credit limits. The Company had a margin deposit held by Hess of $0 and $2,326,000 as of September 30, 2012 and December 31, 2011, respectively, which earns interest that is remitted to the Company. As the Company has a master netting agreement with Hess, the Company has offset this margin deposit against its derivative positions.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624177-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4H
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624258-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708775-113959

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80748-113994

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41635-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708773-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624181-113959

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Equity Based Compensation

9 Months Ended

Sep. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Equity Based Compensation

EQUITY BASED COMPENSATION

During the year ended December 31, 2011, the Company granted to its executive officers options to acquire membership interests in the Company. Such options vest in four equal annual installments commencing on the first anniversary of the date of grant and are exercisable for five years from the date of grant. In the event more than 50% of the combined voting interests of the Company is not owned by Wexford or its affiliates and there is a material change in the terms of the option holder’s employment, the options will vest immediately.

Summarized below are the grant dates with the total exercise prices and total fair values of the underlying options:



Grants Made During the Months Ended	Membership Interest Granted	Exercise Price		Fair Value at Date of Grant
April 2011	1.00%	$	3,600,000	$	1,453,000
August 2011	1.20%	6,000,000		1,384,000
September 2011	1.25%	5,900,000		1,533,000
November 2011	0.25%	1,250,000		288,000
	3.70%	$	16,750,000	$	4,658,000

At September 30, 2012 and December 31, 2011, for outstanding options, the intrinsic value was zero and $113,000, respectively, and the weighted-average remaining contractual terms were 3.8 and 4.6 years, respectively. A 0.86% membership interest was exercisable at September 30, 2012. No options were exercisable at December 31, 2011.

The Company accounts for such options issued using a fair-value-based method calculated on the grant-date of the award. The resulting cost is recognized on a straight-line basis over the vesting period of the entire option.

The fair value of the options issued was estimated using the Black-Scholes option-pricing model. One of the inputs to this model is the estimate of the fair value of the underlying membership interest on the date of grant. The other inputs include an estimate of the expected volatility of the membership interest, an option’s expected term, the risk-free interest rate over the option’s expected term, the option’s exercise price, and the Company’s expectations regarding dividends.

The Company does not have a history of market prices for its membership interests because such interests are not publicly traded. The expected volatility was determined using the historical volatility for a peer group of companies. The expected term for options issued was determined based on the contractual term of the awards. The weighted-average risk-free interest rate was based on the daily U.S. treasury yield curve rate whose term was consistent with the expected life of the options. The Company does not anticipate paying cash dividends; therefore, the expected dividend yield was assumed to be zero.

A summary of the significant assumptions used to estimate the fair value of the options to acquire membership interests during the year ended December 31, 2011 was as follows:



Expected term	5 years
Risk-free interest rate	0.96%
Expected volatility	45.5%
Expected dividend yield	0.00%

The Company assumed no annual forfeiture rate because of its lack of turnover and lack of history for this type of award. The Company will continue to evaluate the appropriateness of the forfeiture rate based on actual forfeiture experience, analysis of employee turnover behavior, and other factors. Changes in the estimated forfeiture rate can have a significant effect on reported equity-based compensation expense, because the cumulative effect of adjusting the rate for all expense amortization is recognized in the period the forfeiture estimate is changed.

Equity-based compensation expense recorded for the three and nine months ended September 30, 2012 was $291,000 and $873,000, respectively. Equity-based compensation expense recorded for both the three and nine months ended September 30, 2011 was $259,000. The unrecognized equity-based compensation expense as of September 30, 2012 and December 31, 2011 was $3,240,000 and $4,113,000, respectively, related to these awards which is expected to be recognized over a weighted-average period of 2.8 and 3.6 years, respectively.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

The Company measures and discloses fair value in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC Topic 820”). Fair value is defined as 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. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.

ASC Topic 820 describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The Company's assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. The Company uses appropriate valuation techniques based on available inputs to measure the fair values of its assets and liabilities.

Level 1 - Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date.

Level 2 - Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

Level 3 - Unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management’s best estimate of fair value.

Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The following table provides fair value measurement information for financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2012 and December 31, 2011.



		Quoted Prices in Active Markets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Cash Collateral⁽¹⁾			Net Fair Value
Financial Liabilities
		September 30, 2012
Derivative contracts		$	—	$	7,741,000	$	—	$	—		$	7,741,000

		December 31, 2011
Derivative contracts		$	—	$	16,785,000	$	—	$	(2,326,000	)	$	14,459,000
(1)	Represents the impact of netting cash collateral with a counterparty with which the right of offset exists.

Level 2 Fair Value Measurements

Derivative contracts-The fair values of the Company’s crude oil swaps are measured internally using established index prices and other sources. These are based upon, among other things, futures prices and time to maturity.

Asset Retirement and Environmental Obligations

The Company estimates asset retirement obligations pursuant to the provisions of FASB ASC Topic 410, “Asset Retirement and Environmental Obligations” (“FASB ASC 410”). The initial measurement of asset retirement obligations at fair value is calculated using discounted cash flow techniques and based on internal estimates of future retirement costs associated with oil and gas properties. Given the unobservable nature of the inputs, including plugging costs and reserve lives, the initial measurement of the asset retirement obligation liability is deemed to use Level 3 inputs. See Note 6 for further discussion of the Company’s asset retirement obligations. Asset retirement obligations incurred were $141,000 and $246,000 during the nine months ended September 30, 2012 and 2011, respectively.

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2012
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Administrative Services An entity under common management provided technical, administrative and payroll services to the Company under a shared services agreement which began March 1, 2008. Through December 31, 2011, amounts charged to the Company included those costs directly attributable to the Company as well as indirect costs allocated to the Company. The reimbursement amount for indirect costs is determined by the affiliate's management based on estimates of time devoted to the Company. The Company incurred total costs of $235,000 and $4,357,000 for the three months and nine months ended September 30, 2012, respectively, and $656,000 and $3,776,000 for the three months and nine months ended September 30, 2011, respectively. Costs incurred unrelated to drilling activities are expensed and costs incurred in the acquisition, exploration, and development of proved oil and natural gas properties have been capitalized. The expensed costs were partially offset in general and administrative expenses by overhead reimbursements of $620,000 and $1,772,000 for the three months and nine months ended September 30, 2012, respectively, and $473,000 and $1,382,000 for the three months and nine months ended September 30, 2011, respectively. As of September 30, 2012, the Company owed the administrative services affiliate $12,000 and as of December 31, 2011, the Company owed the administrative services affiliate $769,000. These amounts are included in accounts payable-related party in the accompanying consolidated balance sheets. Effective January 1, 2012, the Company entered into an additional shared services agreement with this entity. Under this agreement, the Company provides this entity and, at its request, certain affiliates, with consulting, technical and administrative services. The initial term of the additional shared services agreement is two years. Upon expiration of the initial term the agreement will continue on a month-to-month basis until canceled by either party upon thirty days prior written notice. Costs that are attributable to and billed to other affiliates are reported as other income-related party. For the three months and nine months ended September 30, 2012, the affiliate reimbursed the Company $671,000 and $1,729,000 respectively, for services under the shared services agreement and at September 30, 2012, the affiliate owed the Company $97,000 and this amount is included in accounts receivable-related party in the accompanying consolidated balance sheets. Operating Services The Company is the operator of substantially all of its properties. As operator of these properties, the Company is responsible for the daily operations, monthly operation billings and monthly revenue disbursements for the properties. As of September 30, 2012, the Company had amounts due to affiliated parties related to revenue distributions payable of $109,000. As of December 31, 2011, amounts due to affiliated parties related to prepaid drilling costs of $210,000 and revenue distributions payable of $2,303,000. These amounts are included in accounts payable-related party in the accompanying consolidated balance sheets. Each of these affiliated parties is either controlled by or was an affiliate of Wexford. As of September 30, 2012 and December 31, 2011, amounts due from affiliates related to joint interest billings and included in accounts receivable-related party in the accompanying consolidated balance sheets is $9,299,000 and $8,990,000, respectively. Each of these affiliated parties is either controlled by or was an affiliate of Wexford. Drilling Services Bison has performed drilling and field services for the Company under master drilling agreements. Under the Company's most recent master drilling agreement with Bison, effective as of January 1, 2012, Bison committed to accept orders from the Company for the use of at least two of its rigs, and at September 30, 2012 was providing drilling services to the Company using two of its rigs. This master drilling agreement is terminable by either party on 30 day prior written notice, although neither party will be relieved of its respective obligations arising from a drilling contract being performed prior to the termination of the master drilling agreement. For the three months ended March 31, 2011, Bison was a wholly-owned subsidiary thus intercompany amounts were eliminated in consolidation. The Company owed Bison $923,000 as of September 30, 2012 and $154,000 as of December 31, 2011. Completion and Well Servicing Services The Company contracted with an affiliate for certain of its well completion services. Effective August 24, 2011, the affiliate was sold to a non-related third party. While still an affiliate of the Company, the Company was billed $2,504,000 and 12,511,000 for the three months and nine months ended September 30, 2011, respectively. Such amounts are capitalized in oil and natural gas properties in the accompanying consolidated balance sheet. At September 30, 2012 and December 31, 2011, the entity was no longer a related party. Marketing Services The Company entered into an agreement on March 1, 2009 with an entity under common management that purchased and received a significant portion of the Company's oil volumes. Effective January 1, 2012 the agreement with the affiliate was canceled. The Company's revenues from the affiliate were $8,274,000 and $26,692,000 for the three months and nine months ended September 30, 2011, respectively, and such amounts are included in oil sales in the accompanying consolidated statements of operations. As of December 31, 2011, the Company had an accounts receivable-related party balance with the affiliate of $4,132,000 and such amount is included in the accompanying consolidated balance sheets. MidMar The Company is party to a gas purchase agreement, dated May 1, 2009, as amended, with MidMar Gas LLC, or MidMar, an entity affiliated with Wexford that owns a gas gathering system and processing plant in the Permian Basin. Under this agreement, MidMar is obligated to purchase from the Company, and the Company is obligated to sell to MidMar, all of the gas conforming to certain quality specifications produced from certain of the Company's Permian Basin acreage. Following the expiration of the initial ten years term, the agreement will continue on a year-to-year basis until terminated by either party on 30 days written notice. Under the gas purchase agreement, MidMar is obligated to pay the Company 87% of the net revenue received by MidMar for all components of the Company's dedicated gas, including the liquid hydrocarbons, and the sale of residue gas, in each case extracted, recovered or otherwise processed at MidMar's gas processing plant, and 94.56% of the net revenue received by MidMar from the sale of such gas components and residue gas, extracted, recovered or otherwise processed at Chevron's Headlee plant. For the three months and nine months ended September 30, 2012, MidMar paid the Company $803,000 and $2,187,000, respectively. For the three months and nine months ended September 30, 2011, MidMar paid the Company $556,000 and $1,316,000, respectively. As of September 30, 2012 and December 31, 2011, MidMar owed the Company $645,000 and $462,000, respectively, for the Company's portion of the net proceeds from the sale of gas, gas products and residue gas. Midland Lease Effective May 15, 2011, the Company occupied corporate office space in Midland, Texas under a lease with a five-year term. The office space is owned by an entity controlled by an affiliate of Wexford. For the three months and nine months ended September 30, 2012, the Company paid $46,000 and $117,000, respectively, and for the three months and nine months ended September 30, 2011, the Company paid $8,000 and $16,000, respectively. The current monthly rent under the lease will increase approximately 4% annually on June 1 of each year during the lease term. Oklahoma City Lease Effective January 1, 2012, the Company occupied corporate office space in Oklahoma City, Oklahoma under a lease with a 67 month term. The office space is owned by an entity controlled by an affiliate of Wexford. For the three months and nine months ended September 30, 2012, the Company paid $60,000 and $267,000, respectively. The monthly rent under the lease increased to $17,000 per month on August 1, 2012 with no further escalations for the remaining term of the lease. Professional Services from Wexford From time to time, Wexford provides certain professional services to the Company. For the three months and nine months ended September 30, 2012, the Company incurred total costs of $25,000 and $119,000, respectively. As of September 30, 2012 the Company owed Wexford $22,000 and this amount is included in accounts payable-related party in the accompanying consolidated balance sheets. The Company did not incur any costs for professional services from Wexford during the nine months ended September 30, 2011.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph b
-Article 3A

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Contingencies	9 Months Ended
Contingencies	Sep. 30, 2012
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES The Company could be subject to various possible loss contingencies which arise primarily from interpretation of federal and state laws and regulations affecting the natural gas and crude oil industry. Such contingencies include differing interpretations as to the prices at which natural gas and crude oil sales may be made, the prices at which royalty owners may be paid for production from their leases, environmental issues and other matters. Management believes it has complied with the various laws and regulations, administrative rulings and interpretations.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2012
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On October 17, 2012 Diamondback Energy, Inc. closed its IPO. See Note 3 for further details. Advisory Services Agreement Diamondback Energy, Inc. entered into an advisory services agreement (the "Advisory Services Agreement") with Wexford, dated as of October 11, 2012, under which Wexford will provide Diamondback Energy, Inc. with general financial and strategic advisory services related to the business in return for an annual fee of $500,000, plus reasonable out-of-pocket expenses. The Advisory Services Agreement has a term of two years commencing on the completion of the IPO, and will continue for additional one-year periods unless terminated in writing by either party at least ten days prior to the expiration of the then current term. It may be terminated at any time by either party upon 30 days' prior written notice. In the event Diamondback Energy, Inc. terminates such agreement, it is obligated to pay all amounts due through the remaining term. In addition, Diamondback Energy, Inc. agreed to pay Wexford to-be-negotiated market-based fees approved by Diamondback's independent directors for such services as may be provided by Wexford at Diamondback Energy, Inc.'s request in connection with future acquisitions and divestitures, financings or other transactions in which Diamondback Energy, Inc. may be involved. The services provided by Wexford thereunder will not extend to Diamondback Energy, Inc.'s day-to-day business or operations. Diamondback Energy, Inc. has agreed to indemnify Wexford and its affiliates from any and all losses arising out of or in connection with the Advisory Services Agreement except for losses resulting from Wexford's or its affiliates’ gross negligence or willful misconduct.

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2012
Accounting Policies [Abstract]
Derivatives	The Company enters into counter-swaps from time to time for the purpose of locking-in the value of a swap. Under the counter-swap, the Company receives a floating price for the hedged commodity and pays a fixed price to the counterparty. The counter-swap is effective in locking-in the value of a swap since subsequent changes in the market value of the swap are entirely offset by subsequent changes in the market value of the counter-swap. The Company has used price swap derivatives to reduce price volatility associated with certain of its oil sales. In these swaps, the Company receives the fixed price per the contract and pays a floating market price to the counterparty based on New York Mercantile Exchange Light Sweet Crude Oil pricing. The fixed-price payment and the floating-price payment are offset, resulting in a net amount due to or from the counterparty. The counterparties to the Company’s derivative contracts are BNP Paribas (“BNP”) and Hess Corporation (“Hess”), who the Company believes are acceptable credit risks. All derivative financial instruments are recorded on the consolidated balance sheets at fair value. The fair value of swaps is generally determined using established index prices and other sources which are based upon, among other things, futures prices and time to maturity.
Share-based Compensation	The Company accounts for such options issued using a fair-value-based method calculated on the grant-date of the award. The resulting cost is recognized on a straight-line basis over the vesting period of the entire option. The fair value of the options issued was estimated using the Black-Scholes option-pricing model. One of the inputs to this model is the estimate of the fair value of the underlying membership interest on the date of grant. The other inputs include an estimate of the expected volatility of the membership interest, an option’s expected term, the risk-free interest rate over the option’s expected term, the option’s exercise price, and the Company’s expectations regarding dividends. The Company does not have a history of market prices for its membership interests because such interests are not publicly traded. The expected volatility was determined using the historical volatility for a peer group of companies. The expected term for options issued was determined based on the contractual term of the awards. The weighted-average risk-free interest rate was based on the daily U.S. treasury yield curve rate whose term was consistent with the expected life of the options. The Company does not anticipate paying cash dividends; therefore, the expected dividend yield was assumed to be zero.
Basis of Presentation	Basis of Presentation These financial statements have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). They reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods, on a basis consistent with the annual audited financial statements. All such adjustments are of a normal recurring nature. Certain information, accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("GAAP") have been omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. For a more complete understanding of our operations, financial position and accounting policies, these financial statements should be read in conjunction with the Company’s most recent annual financial statements included in Diamondback Energy, Inc.’s final prospectus (the "final prospectus") dated October 11, 2012 and filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933 on October 15, 2012.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the Reporting Periods. Significant estimates with regard to these financial statements include the estimate of proved oil and gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, fair value estimates and asset retirement obligations. Actual results could differ from those estimates.
New Pronouncements Issued but Not Yet Adopted	New Pronouncements Issued but Not Yet Adopted In December 2011, the FASB issued Accounting Standards Update No. 2011-11, which increases disclosures about offsetting assets and liabilities. New disclosures are required to enable users of financial statements to understand significant quantitative differences in balance sheets prepared under GAAP and International Financial Reporting Standards related to the offsetting of financial instruments. The existing GAAP guidance allowing balance sheet offsetting, including industry-specific guidance, remains unchanged. The guidance in ASU No. 2011-11 is effective for annual and interim reporting periods beginning on or after January 1, 2013. The disclosures should be applied retrospectively for all prior periods presented. The Company does not expect the adoption of this guidance to have a significant impact on its financial position, results of operations or cash flow.
Asset Retirement and Environmental Obligations	Asset Retirement and Environmental Obligations The Company estimates asset retirement obligations pursuant to the provisions of FASB ASC Topic 410, “Asset Retirement and Environmental Obligations” (“FASB ASC 410”). The initial measurement of asset retirement obligations at fair value is calculated using discounted cash flow techniques and based on internal estimates of future retirement costs associated with oil and gas properties. Given the unobservable nature of the inputs, including plugging costs and reserve lives, the initial measurement of the asset retirement obligation liability is deemed to use Level 3 inputs. See Note 6 for further discussion of the Company’s asset retirement obligations. Asset retirement obligations incurred were $141,000 and $246,000 during the nine months ended September 30, 2012 and 2011, respectively.
Fair Value Measurement	The Company measures and discloses fair value in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC Topic 820”). Fair value is defined as 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. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC Topic 820 describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The Company's assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. The Company uses appropriate valuation techniques based on available inputs to measure the fair values of its assets and liabilities. Level 1 - Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date. Level 2 - Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 - Unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management’s best estimate of fair value. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement.

- Definition

Disclosure of accounting policy for determining amounts to accrue and charge against earnings so as to satisfy legal obligations associated with the retirement (through sale, abandonment, recycling, or disposal in some other manner) of a tangible long-lived asset that result from the acquisition, construction, or development and (or) the normal operation of a long-lived asset. This accounting policy disclosure excludes obligations arising 1) in connection with leased property, whether imposed by a lease agreement or by a party other than the lessor, that meet the definition of either minimum lease payments or contingent rentals; 2) solely from a plan to sell or otherwise dispose of a long-lived asset and 3) from certain environmental remediation liabilities.

+ References + Details

- Definition

Disclosure of accounting policy for its derivative instruments and hedging activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41675-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 39
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph n
-Article 4

+ Details

- Definition

Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.

+ References + Details

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2012

Business Combinations [Abstract]

Unaudited summary pro forma combined statement of operations data:



	Three Months Ended		Nine Months Ended
	September 30, 2012		September 30, 2011
	(Pro Forma)		(Pro Forma)
Pro forma total revenues	$	23,839,000	$	70,412,000
Pro forma income from operations	5,536,000		21,204,000
Pro forma net income⁽¹⁾	$	1,930,000	$	21,702,000

(1) Does not include pro forma income tax provision relating to becoming subject to income taxes as a result of the Merger.

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References + Details

Property and Equipment (Tables)

9 Months Ended

Sep. 30, 2012

Property, Plant and Equipment [Abstract]

Property and equipment includes the following:



	September 30, 2012			December 31, 2011
	September 30, 2012			December 31, 2011
Oil and natural gas properties:
Subject to depletion	$	403,463,000		$	323,778,000
Not subject to depletion-acquisition costs
Incurred in 2012	5,632,000			—
Incurred in 2011	1,178,000			1,199,000
Incurred in 2009	533,000			533,000
Total not subject to depletion	7,343,000			1,732,000

Gross oil and natural gas properties	410,806,000			325,510,000
Less accumulated depreciation, depletion, amortization and impairment	(135,130,000		)	(119,167,000		)
Oil and natural gas properties, net	275,676,000			206,343,000

Other property and equipment	2,277,000			1,017,000
Less accumulated depreciation	(603,000		)	(333,000		)
Other property and equipment, net	1,674,000			684,000

Property and equipment, net of accumulated depreciation, depletion, amortization and impairment	$	277,350,000		$	207,027,000

Asset Retirement Obligation (Tables)

9 Months Ended

Sep. 30, 2012

Asset Retirement Obligation [Abstract]

A reconciliation of the asset retirement obligation:

A reconciliation of the asset retirement obligation for the nine months ended September 30, 2012 and 2011 is as follows:



	Nine Months Ended
	September 30,
	2012		2011
Asset retirement obligation, beginning of period	$	1,080,000	$	728,000
Additional liability incurred	141,000		246,000
Accretion expense	62,000		45,000
Asset retirement obligation, end of period	1,283,000		1,019,000
Less current portion	19,000		—
Asset retirement obligations - long-term	$	1,264,000	$	1,019,000

Debt (Tables)

9 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

Financial Covenants

Further, the amendment modified certain financial ratios, the current requirements of which are described below.



Financial Covenant			Required Ratio
Ratio of EBITDAX to interest expense, as defined in the credit agreement			Not less than 2.5 to 1.0
Ratio of total debt to EBITDAX			Not greater than 4.5 to 1.0
Ratio of total debt to EBITDAX (after closing date of IPO)			Not greater than 4.0 to 1.0
Ratio of debt under revolving credit agreement to EBITDAX			Not greater than 3.0 to 1.0
Ratio of current assets to liabilities, as defined in the credit agreement			Not less than 1.0 to 1.0

Derivatives (Tables)

9 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summarized amounts, terms and fair values of outstanding instruments:

Set forth below are the summarized amounts, terms and fair values of outstanding instruments held as of September 30, 2012 and December 31, 2011.



Description and Production Period	Volume (Bbls)	Original Strike Price (per Bbl)	September 30, 2012		December 31, 2011
			Fair Value Liability		Fair Value Liability
			Fair Value Liability		Fair Value Liability
Crude Oil Swaps:
January – August 2012	244,000	$78.50	$	—	$	5,038,000
September – November 2012	91,000	$78.50	1,337,000		1,795,000
December 2012	31,000	$78.50	454,000		594,000
January – August 2013	243,000	$80.55	3,239,000		3,823,000
September – November 2013	91,000	$80.55	1,171,000		1,298,000
December 2013	31,000	$80.55	385,000		424,000

Summarized amounts, terms and fair values of locked-in swaps from settlements:

Set forth below are the summarized amounts, terms and fair values of the locked-in swaps from the April 2008 settlements as of September 30, 2012 and December 31, 2011, respectively.



Description and Production Period	Volume (Bbls)	Original Strike Price (per Bbl)	Lock-in Price(per Bbl)	September 30, 2012		December 31, 2011
				Fair Value Liability		Fair Value Liability
				Fair Value Liability		Fair Value Liability
Crude Oil Swaps:
December 2011	22,500	$82.90	$98.50–$102.20	$	—	$	379,000
January-August 2012	180,000	$85.07	$98.25–$101.80	—		2,585,000
September-December 2012	90,000	$85.07	$98.25–$101.80	1,292,000		1,292,000

Summarized amounts, terms and fair values of locked-in swaps from settlements:

Set forth below are the summarized amounts, terms and fair values of the locked-in swaps from the June 2009 settlements as of September 30, 2012 and December 31, 2011, respectively.



Description and Production Period	Volume (Bbls)	Original Strike Price (per Bbl)	Lock-in Price(per Bbl)	September 30, 2012		December 31, 2011
				Fair Value Asset		Fair Value Asset
				Fair Value Asset		Fair Value Asset
Crude Oil Swaps:
December 2011	7,500	$82.90	$78.42	$	—	$	34,000
January-August 2012	60,000	$85.07	$80.52	—		273,000
September- December 2012	30,000	$85.07	$80.52	136,000		136,000

Summarizes the loss on derivative contracts included in the consolidated statements of operations:

The following summarizes the loss on derivative contracts included in the consolidated statements of operations:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012			2011
Unrealized loss (gain) on open non-hedge derivative instruments	$	2,252,000	$	—	$	(6,386,000	)	$	—
Loss on settlement of non-hedge derivative instruments	896,000		7,000		4,369,000			35,000
(Gain) Loss on derivative contracts	$	3,148,000	$	7,000	$	(2,017,000	)	$	35,000

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41678-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

+ Details

Equity Based Compensation (Tables)

9 Months Ended

Sep. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Grant dates with total exercise price and total fair values

Summarized below are the grant dates with the total exercise prices and total fair values of the underlying options:



Grants Made During the Months Ended	Membership Interest Granted	Exercise Price		Fair Value at Date of Grant
April 2011	1.00%	$	3,600,000	$	1,453,000
August 2011	1.20%	6,000,000		1,384,000
September 2011	1.25%	5,900,000		1,533,000
November 2011	0.25%	1,250,000		288,000
	3.70%	$	16,750,000	$	4,658,000

Significant assumptions used to estimate fair value of the options to acquire membership interests

A summary of the significant assumptions used to estimate the fair value of the options to acquire membership interests during the year ended December 31, 2011 was as follows:



Expected term	5 years
Risk-free interest rate	0.96%
Expected volatility	45.5%
Expected dividend yield	0.00%

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Fair value measurement information for financial assets and liabilities measured at fair value on a recurring basis:

The following table provides fair value measurement information for financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2012 and December 31, 2011.



		Quoted Prices in Active Markets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Cash Collateral⁽¹⁾			Net Fair Value
Financial Liabilities
		September 30, 2012
Derivative contracts		$	—	$	7,741,000	$	—	$	—		$	7,741,000

		December 31, 2011
Derivative contracts		$	—	$	16,785,000	$	—	$	(2,326,000	)	$	14,459,000
(1)	Represents the impact of netting cash collateral with a counterparty with which the right of offset exists.

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2012	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Subsequent Event [Line Items]
Income Tax Expense (Benefit), Pro Forma		$ 0	$ 0	$ 0	$ 0
Subsequent Event [Member] \| Issuance of Equity [Member]
Subsequent Event [Line Items]
Income Tax Expense (Benefit), Pro Forma	$ 44,200

Initial Public Offering of Diamondback Energy Inc. (Details) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Millions	Oct. 23, 2012	Oct. 12, 2012
Issuance of Equity [Member]
Initial Public Offering [Line Items]
Stock Issued During Period, Shares, New Issues	1,875,000	12,500,000
Stock Issued During Period, Shares, Price Per Share		$ 17.50
Received estimated net proceeds	$ 235.3
Repayment of Debt [Member]
Initial Public Offering [Line Items]
Payment of outstanding debt under revolving credit facility	100.0
Affiliated Entity [Member] \| Repayment of Debt [Member]
Initial Public Offering [Line Items]
Payment to Gulfport Energy	63.6
Payment of outstanding borrowings under subordinated note with an affiliate	$ 30.0

Acquisitions (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Business Combinations [Abstract]

Pro forma total revenues

$ 23,839

$ 70,412

Pro forma income from operations

5,536

21,204

Pro forma net income

^[1]

$ 1,930

$ 21,702

[1]	Does not include pro forma income tax provision relating to becoming subject to income taxes as a result of the Merger.

Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Property, Plant and Equipment [Line Items]
Subject to depletion	$ 403,463	$ 323,778
Oil and natural gas properties:
Not subject to depletion-acquisition costs	7,343	1,732
Gross oil and natural gas properties	410,806	325,510
Less accumulated depreciation, depletion, amortization and impairment	(135,130)	(119,167)
Oil and natural gas properties, net	275,676	206,343
Other property and equipment	2,277	1,017
Less accumulated depreciation	(135,733)	(119,500)
Other property and equipment, net	1,674	684
Property and equipment, net of accumulated depreciation, depletion, amortization and impairment	277,350	207,027
Other property and equipment
Oil and natural gas properties:
Less accumulated depreciation	(603)	(333)
Incurred in 2012
Oil and natural gas properties:
Not subject to depletion-acquisition costs	5,632	0
Incurred in 2011
Oil and natural gas properties:
Not subject to depletion-acquisition costs	1,178	1,199
Incurred in 2009
Oil and natural gas properties:
Not subject to depletion-acquisition costs	$ 533	$ 533

Property and Equipment Property & Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Property, Plant and Equipment [Abstract]
Included in oil and gas properties are general and admininstrative costs incurred and capitalized to the full cost pool	$ 3,714		$ 3,714
Capitalized general and administrative costs	$ 1,068	$ 375	$ 2,843	$ 375

Asset Retirement Obligation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligation, beginning of period			$ 1,080	$ 728
Additional liability incurred			141	246
Accretion expense	$ 22	$ 17	62	45
Asset retirement obligation, end of period	1,283	1,019	1,283	1,019
Less current portion	19	0	19	0
Asset retirement obligations - long-term	$ 1,264	$ 1,019	$ 1,264	$ 1,019	$ 1,080

Equity Method Investments (Details)			1 Months Ended			12 Months Ended
Equity Method Investments (Details)	Jun. 15, 2012 USD ($)	May 01, 2011 Rig	Sep. 30, 2011	Apr. 30, 2011 Rig	Dec. 31, 2010 Rig	Dec. 31, 2011 USD ($)	Oct. 07, 2011 USD ($)
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Land and Other Capital Items						$ 4,200,000
Bison Drilling
Schedule of Equity Method Investments [Line Items]
Number Of Drilling Rigs \| Rig		4
Number of Drilling Rigs Purchased During the Period \| Rig				2	2
Sale of its membership interest to a related party			25.00%
Distribution of equity method investment between entities under common control	$ 6,437,000
Muskie Holdings
Schedule of Equity Method Investments [Line Items]
Distribution of equity method investment between entities under common control	$ 4,067,000
Equity interest in Muskie	33.00%						48.60%
Amount paid for land and the value of property contributed							$ 4,200,000

Debt Line of Credit Facility (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2012	Jul. 24, 2012	Dec. 31, 2011	Dec. 31, 2010
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 250,000
Quarterly commitment fee percentage based on unused porttion of borrowing base	0.50%
Line of Credit Facility, Current Borrowing Capacity	$ 90,000		$ 100,000	$ 45,000
Classified outstanding borrowings under credit facility as short term	10,000		0
Outstanding borrowings under credit facility	$ 100,000		$ 85,000
Maximum credit amount under the revolving credit agreement		$ 250,000
Reduction of borrowing base		25.00%
Period to Increase Aggregate Limit on Lease Payments	12
Minimum [Member]
Line of Credit Facility [Line Items]
Increased the aggregate limitation on lease payments	$ 250
Maximum [Member]
Line of Credit Facility [Line Items]
Increased the aggregate limitation on lease payments	$ 550
Wells Fargo Bank, NA
Line of Credit Facility [Line Items]
The current lenders and their percentage commitments in the revolving credit facility	45.00%
Amegy Bank NA
Line of Credit Facility [Line Items]
The current lenders and their percentage commitments in the revolving credit facility	25.00%
US Bank NA
Line of Credit Facility [Line Items]
The current lenders and their percentage commitments in the revolving credit facility	25.00%
West Texas National Bank
Line of Credit Facility [Line Items]
The current lenders and their percentage commitments in the revolving credit facility	5.00%
Line of Credit [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	prime, LIBOR or federal funds rate
Outstanding borrowings under credit facility bore a weighted average interest rate	3.72%		3.30%
Line of Credit [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
The outstanding borrowings bear interest at a rate elected by the Company that is based on prime, Libor or Federal funds rate plus margins ranging	1.25%
Line of Credit [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
The outstanding borrowings bear interest at a rate elected by the Company that is based on prime, Libor or Federal funds rate plus margins ranging	3.50%
Subordinated Debt [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR
Affiliated Entity [Member] \| Subordinated Debt [Member]
Line of Credit Facility [Line Items]
Increase in permitted subordinated debt in a maximum principal amount not to exceed	$ 45,000
Affiliated Entity [Member] \| Subordinated Debt [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
The outstanding borrowings bear interest at a rate elected by the Company that is based on prime, Libor or Federal funds rate plus margins ranging	0.28%
Affiliated Entity [Member] \| Subordinated Debt [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
The outstanding borrowings bear interest at a rate elected by the Company that is based on prime, Libor or Federal funds rate plus margins ranging	8.00%

Debt Financial Covenant Table (Details)	Sep. 30, 2012
Maximum [Member]
Line of Credit Facility [Line Items]
Ratio of total debt to EBITDAX	4.5
Ratio of total debt to EBITDAX (after closing date of IPO)	4
Ratio of debt under revolving credit agreement to EBITDAX	3
Minimum [Member]
Line of Credit Facility [Line Items]
Ratio of EBITDAX to interest expense, as defined in the credit agreement	2.5
Ratio of current assets to liabilities, as defined in the credit agreementy	1

Debt Subordinated Note (Details) - USD ($) $ in Thousands	9 Months Ended
Debt Subordinated Note (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Aggregate principal amount outstanding	$ 30,045	$ 0
Affiliated Entity [Member]
Debt Instrument [Line Items]
Aggregate principal amount outstanding	$ 30,000
Subordinated Debt [Member]
Debt Instrument [Line Items]
LIBOR	LIBOR
Subordinated Debt [Member] \| Affiliated Entity [Member]
Debt Instrument [Line Items]
Maximum advance allowable on subordinated note	$ 45,000
Subordinated Debt [Member] \| Affiliated Entity [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.28%
Subordinated Debt [Member] \| Affiliated Entity [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	8.00%

Debt Note Payable (Details) $ in Thousands	9 Months Ended
Debt Note Payable (Details) $ in Thousands	Sep. 30, 2012 USD ($)
Debt Disclosure [Abstract]
Note Payable	$ 363
Debt Instrument, Frequency of Periodic Payment	P36M

Derivatives Terms and Fair Values of Outstanding Derivative Instruments (Details) $ in Thousands	Sep. 30, 2012 USD ($) bbl $ / bbl	Dec. 31, 2011 USD ($)	Dec. 31, 2007 bbl
Swap [Member] \| Crude Oil [Member]
Crude Oil Swaps:
Volume (Bbls) \| bbl			1,680,000
Swap [Member] \| Crude Oil [Member] \| January - August 2012
Crude Oil Swaps:
Volume (Bbls) \| bbl	244,000
Original Strike Price (per Bbl)	78.50
Fair Value Liability \| $	$ 0	$ 5,038
Swap [Member] \| Crude Oil [Member] \| September - November 2012
Crude Oil Swaps:
Volume (Bbls) \| bbl	91,000
Original Strike Price (per Bbl)	78.50
Fair Value Liability \| $	$ 1,337	1,795
Swap [Member] \| Crude Oil [Member] \| December 2012
Crude Oil Swaps:
Volume (Bbls) \| bbl	31,000
Original Strike Price (per Bbl)	78.50
Fair Value Liability \| $	$ 454	594
Swap [Member] \| Crude Oil [Member] \| January - August 2013
Crude Oil Swaps:
Volume (Bbls) \| bbl	243,000
Original Strike Price (per Bbl)	80.55
Fair Value Liability \| $	$ 3,239	3,823
Swap [Member] \| Crude Oil [Member] \| September - November 2013
Crude Oil Swaps:
Volume (Bbls) \| bbl	91,000
Original Strike Price (per Bbl)	80.55
Fair Value Liability \| $	$ 1,171	1,298
Swap [Member] \| Crude Oil [Member] \| December 2013
Crude Oil Swaps:
Volume (Bbls) \| bbl	31,000
Original Strike Price (per Bbl)	80.55
Fair Value Liability \| $	$ 385	$ 424
Calendar Year 2013
Crude Oil Swaps:
Original Strike Price (per Bbl)	80.55
Calendar Year 2012
Crude Oil Swaps:
Original Strike Price (per Bbl)	78.50

Derivatives Locked-in Swaps Settled In April 2008 (Details) $ in Thousands	Sep. 30, 2012 USD ($) bbl $ / bbl	Dec. 31, 2011 USD ($)	Jun. 30, 2009 bbl	Dec. 31, 2007 bbl
Crude Oil [Member] \| Swap [Member]
Crude Oil Swaps:
Volume (Bbls) \| bbl				1,680,000
Crude Oil [Member] \| Counter Swap [Member] \| Summarized amounts, terms, and fair values of the locked-in swaps from April 2008 settlments
Crude Oil Swaps:
Volume (Bbls) \| bbl			324,000
September - December 2012 \| Summarized amounts, terms, and fair values of the locked-in swaps from April 2008 settlments \| Minimum [Member]
Crude Oil Swaps:
Lock-in Price (per Bbl)	98.50
September - December 2012 \| Summarized amounts, terms, and fair values of the locked-in swaps from April 2008 settlments \| Maximum [Member]
Crude Oil Swaps:
Lock-in Price (per Bbl)	102.20
September - December 2012 \| Crude Oil [Member] \| Swap [Member] \| Summarized amounts, terms, and fair values of the locked-in swaps from April 2008 settlments
Crude Oil Swaps:
Volume (Bbls) \| bbl	90,000
Original Strike Price (per Bbl)	85.07
Fair Value Liability \| $	$ 1,292	$ 1,292
January - August 2012 \| Summarized amounts, terms, and fair values of the locked-in swaps from April 2008 settlments \| Minimum [Member]
Crude Oil Swaps:
Lock-in Price (per Bbl)	98.25
January - August 2012 \| Summarized amounts, terms, and fair values of the locked-in swaps from April 2008 settlments \| Maximum [Member]
Crude Oil Swaps:
Lock-in Price (per Bbl)	101.80
January - August 2012 \| Crude Oil [Member] \| Swap [Member]
Crude Oil Swaps:
Volume (Bbls) \| bbl	244,000
Original Strike Price (per Bbl)	78.50
Fair Value Liability \| $	$ 0	5,038
January - August 2012 \| Crude Oil [Member] \| Swap [Member] \| Summarized amounts, terms, and fair values of the locked-in swaps from April 2008 settlments
Crude Oil Swaps:
Volume (Bbls) \| bbl	180,000
Original Strike Price (per Bbl)	85.07
Fair Value Liability \| $	$ 0	2,585
December 2011 \| Summarized amounts, terms, and fair values of the locked-in swaps from April 2008 settlments \| Minimum [Member]
Crude Oil Swaps:
Lock-in Price (per Bbl)	98.25
December 2011 \| Summarized amounts, terms, and fair values of the locked-in swaps from April 2008 settlments \| Maximum [Member]
Crude Oil Swaps:
Lock-in Price (per Bbl)	101.80
December 2011 \| Crude Oil [Member] \| Swap [Member] \| Summarized amounts, terms, and fair values of the locked-in swaps from April 2008 settlments
Crude Oil Swaps:
Volume (Bbls) \| bbl	22,500
Original Strike Price (per Bbl)	82.90
Fair Value Liability \| $	$ 0	$ 379

Derivatives Locked-in Swaps Settled in June 2009 (Details) - Crude Oil [Member] $ in Thousands	Sep. 30, 2012 USD ($) bbl $ / bbl	Dec. 31, 2011 USD ($)	Apr. 30, 2008 bbl	Dec. 31, 2007 bbl
Swap [Member]
Crude Oil Swaps:
Volume (Bbls) \| bbl				1,680,000
Counter Swap [Member] \| Summarized amounts, terms and fair values of locked-in swaps from June 2009 settlements
Crude Oil Swaps:
Volume (Bbls) \| bbl			1,188,000
September - December 2012 \| Swap [Member] \| Summarized amounts, terms and fair values of locked-in swaps from June 2009 settlements
Crude Oil Swaps:
Volume (Bbls) \| bbl	30,000
Original Strike Price (per Bbl)	85.07
Lock-in Price (per Bbl)	80.52
Fair Value Liability \| $	$ 136	$ 136
January - August 2012 \| Swap [Member]
Crude Oil Swaps:
Volume (Bbls) \| bbl	244,000
Original Strike Price (per Bbl)	78.50
January - August 2012 \| Swap [Member] \| Summarized amounts, terms and fair values of locked-in swaps from June 2009 settlements
Crude Oil Swaps:
Volume (Bbls) \| bbl	60,000
Original Strike Price (per Bbl)	85.07
Lock-in Price (per Bbl)	80.52
Fair Value Liability \| $	$ 0	273
December 2011 \| Swap [Member] \| Summarized amounts, terms and fair values of locked-in swaps from June 2009 settlements
Crude Oil Swaps:
Volume (Bbls) \| bbl	7,500
Original Strike Price (per Bbl)	82.90
Lock-in Price (per Bbl)	78.42
Fair Value Liability \| $	$ 0	$ 34

Derivatives Loss on Derivative Contracts Included in Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Unrealized loss (gain) on open non-hedge derivative instruments	$ 2,252	$ 0	$ (6,386)	$ 0
Loss on settlement of non-hedge derivative instruments	896	7	4,369	35
(Gain) loss on derivative contracts	3,148	$ 7	(2,017)	$ 35
Margin deposit assets	$ 0		$ 0		$ 2,326

- Definition

The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments.

+ References + Details

Equity Based Compensation Grant Dates with the total exercise prices and total fair values of underlying options (Details) - USD ($) $ in Thousands	1 Months Ended				9 Months Ended	12 Months Ended
	Nov. 30, 2011	Sep. 30, 2011	Aug. 31, 2011	Apr. 30, 2011	Sep. 30, 2012	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Membership Interest Granted	0.25%	1.25%	1.20%	1.00%		3.70%
Exercise Price	$ 1,250	$ 5,900	$ 6,000	$ 3,600		$ 16,750
Fair Value at Date of Grant	$ 288	$ 1,533	$ 1,384	$ 1,453		4,658
For Outstanding options, the intrinsic value was					$ 0	$ 113
The weighted-average remaining contractual term were					3 years 9 months 18 days	4 years 7 months 6 days
Membership interest was exercisable					0.86%	0.00%
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vest in equal installments commencing on the first anniversary of the date of grant						4 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excercisable from the date of grant						5 years
The combined voting interest of the Company is not owned by Affiliate, options will vest immediately.						50.00%

Equity Based Compensation Significant Assumptions used to estimated fair value of options: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense recorded	$ 291	$ 259	$ 873	$ 259
Expected to be recognized over a weighted-average period					3 years 7 months 6 days
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term					5 years
Risk-free interest rate					0.96%
Expected volatility					45.50%
Expected dividend yield					0.00%
The unrecognized equity-based compensation expense	$ 3,240		$ 3,240		$ 4,113
Expected to be recognized over a weighted-average period			2 years 9 months 18 days

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References + Details

Fair Value Measurements (Details) - USD ($) $ in Thousands	9 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Financial Liabilities
Asset retirement obligation incurred, including changes in estimate	$ 141	$ 246
Quoted Prices in Active Markets Level 1
Financial Liabilities
Derivative contracts	0		$ 0
Significant Other Observable Inputs Level 2
Financial Liabilities
Derivative contracts	7,741		16,785
Significant Unobservable Inputs Level 3
Financial Liabilities
Derivative contracts	0		0
Cash Collateral
Financial Liabilities
Derivative contracts	0		(2,326)
Net Fair Value
Financial Liabilities
Derivative contracts	$ 7,741		$ 14,459

Related Party Transactions Administrative Services (Details) - USD ($)		3 Months Ended		9 Months Ended
	Jan. 02, 2012	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Related Party Transaction [Line Items]
Accounts payable-related party		$ 1,066,000		$ 1,066,000		$ 3,436,000
The company had an accounts receivable-related party balance with an affiliate		10,041,000		10,041,000		13,123,000
The initial term of the additional shared services agreement	2 years
The affiliate owed the Company and it is included in accounts receivable-related party in the consolidated balance sheet		97,000		97,000
Subsidiary of Common Parent [Member]
Related Party Transaction [Line Items]
The Company incurred total costs under administrative serices agreement		235,000	$ 656,000	4,357,000	$ 3,776,000
Expense costs partially offset in general administraticve expenses by overhead reimbursements		620,000	$ 473,000	1,772,000	$ 1,382,000
Accounts payable-related party		12,000		12,000		769,000
The company had an accounts receivable-related party balance with an affiliate						$ 4,132,000
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Affiliate reimbursed the Company		$ 671,000		$ 1,729,000
Upon expiration of the initial term the agreement will continue on a month to month basis until cancelled by either party upon prior written notice	30 days

Related Party Transactions Operating Services (Details) - Affiliated Entity [Member] - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Related Party Transaction [Line Items]
Amounts due to affiliated parties relating to revenue distributions payable	$ 109	$ 2,303
Amounts due to affilated parties relating to prepaid drilling costs		210
Amounts due from affiliates related to joint interest billings and included in accounts receivable-related party	$ 9,299	$ 8,990

Related Party Transactions Drilling Services (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2012 USD ($) Rig	Dec. 31, 2011 USD ($)
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Number of Drilling Rigs Committed to Use During the Period	2
Affiliated Entity, Bison [Member]
Related Party Transaction [Line Items]
Number Of Drilling Rigs	2
The company owed Bison \| $	$ 923	$ 154

- Definition

Amount for accounts payable to related parties.

+ References + Details

Related Party Transactions Completion and Well Servicing Services (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2011
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Costs Incurred, Development Costs	$ 2,504,000	$ 12,511,000

Related Party Transactions Marketing Services (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Related Party Transaction [Line Items]
The Company's revenue from oil sales from affiliate	$ 0	$ 8,274	$ 0	$ 26,692
The company had an accounts receivable-related party balance with an affiliate	$ 10,041		$ 10,041		$ 13,123
Subsidiary of Common Parent [Member]
Related Party Transaction [Line Items]
The Company's revenue from oil sales from affiliate		$ 8,274		$ 26,692
The company had an accounts receivable-related party balance with an affiliate					$ 4,132

- Definition

Amount of receivables arising from transactions with related parties due within one year or the normal operating cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3(a)(2))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k)(1))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Subparagraph 1
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 2
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3
-Subparagraph a
-Article 5

+ Details

Related Party Transactions MidMar (Details) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended
	Jan. 02, 2012	May 01, 2009	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Related Party Transaction [Line Items]
The initial term of the additional shared services agreement	2 years
Revenue from Related Parties, Natural Gas Sales			$ 1,035	$ 437	$ 2,171	$ 1,135
Affiliated Entity, MidMar [Member]
Related Party Transaction [Line Items]
The initial term of the additional shared services agreement		10 years
Upon expiration of the initial term the agreement will continue on a month to month basis until cancelled by either party upon prior written notice		30 days
Revenue from Related Parties, Natural Gas Sales			803	$ 556	2,187	$ 1,316
MidMar owed the company for its portion from the sale of gas, gas products and residue gas			$ 645		$ 645		$ 462
Affiliated Entity, MidMar [Member] \| MidMar Plant [Member]
Related Party Transaction [Line Items]
Sales Revenue, Goods, Net, Percentage			87.00%		87.00%
Affiliated Entity, MidMar [Member] \| Chevron Headlee Plant [Member]
Related Party Transaction [Line Items]
Sales Revenue, Goods, Net, Percentage			94.56%		94.56%

Related Party Transactions Midland Lease (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Jun. 01, 2012	May 15, 2011
Related Party Transaction [Line Items]
The current monthly rent under the lease will increase annually					4.00%
Affiliated Entity, Midland Lease [Member]
Related Party Transaction [Line Items]
Term of lease from related party						5 years
Office rent to affilate	$ 46	$ 8	$ 117	$ 16

Related Party Transactions Oklahoma City Lease (Details) - Affiliated Entity, Oklahoma City Lease [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2012	Aug. 01, 2012	Jan. 02, 2012
Related Party Transaction [Line Items]
Term of lease from related party				67 months
Office rent to affilate	$ 60	$ 267
Monthly rent			$ 17

Related Party Transactions Professional Services from Wexford (Details) - Controlling Entity [Member]	3 Months Ended	9 Months Ended
	Sep. 30, 2012 USD ($)	Sep. 30, 2012 USD ($)
Related Party Transaction [Line Items]
The company incurred costs from Wexford relating from professional services	$ 25,000	$ 119,000
Accounts Payable due to Wexford	$ 22,000	$ 22,000

- Definition

Amount for accounts payable to related parties.

+ References + Details

Subsequent Events (Details) - Subsequent Event [Member] $ in Thousands	Oct. 12, 2012 USD ($)
Subsequent Event [Line Items]
Advisory Services Agreement, Annual Fee	$ 500
Term of advisory services agreement	2 years
Extension term for advisory services agreement	1 year
Number of days to terminate contract prior to expiration date in current term	10 days
Number of days to terminate contract by either party	30 days