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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2013	Jul. 24, 2013
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q2
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		42,161,532

Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 81,898	$ 26,358
Accounts receivable:
Joint interest and other	7,347	5,959
Oil and natural gas sales	16,374	8,081
Related party	648	772
Inventories	6,271	6,195
Deferred income taxes	0	1,857
Derivative instruments	3,191	0
Prepaid expenses and other	807	1,053
Total current assets	116,536	50,275
Property and equipment
Oil and natural gas properties, based on the full cost method of accounting ($118,893,000 and $121,245,000 excluded from amortization at June 30, 2013 and December 31, 2012, respectively)	847,732	697,742
Other property and equipment	4,749	2,337
Accumulated depletion, depreciation, amortization and impairment	(171,309)	(145,837)
Property and equipment, net of accumulated depreciation, depletion, amortization and impairment	681,172	554,242
Other assets	931	2,184
Total assets	798,639	606,701
Current liabilities:
Accounts payable trade	22,630	12,141
Accounts payable-related party	724	18,813
Accrued capital expenditures	50,042	29,397
Other accrued liabilities	16,065	10,649
Revenues and royalties payable	5,020	3,270
Derivative instruments	2,679	4,817
Deferred income taxes	182	0
Note payable-short term	145	145
Total current liabilities	97,487	79,232
Note payable–long term	121	193
Derivative instruments-long term	0	388
Asset retirement obligations-long term	2,324	2,125
Deferred income taxes-noncurrent	71,098	62,695
Total liabilities	171,030	144,633
Contingencies (Note 13)
Stockholders’ equity:
Common stock, $0.01 par value, 100,000,000 shares authorized, 42,161,532 issued and outstanding at June 30, 2013; 36,986,532 issued and outstanding at December 31, 2012	422	370
Additional paid-in capital	659,394	513,772
Accumulated deficit	(32,207)	(52,074)
Total stockholders’ equity	627,609	462,068
Total liabilities and stockholders’ equity	$ 798,639	$ 606,701

Consolidated Balance Sheet (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Statement of Financial Position [Abstract]
Oil and natural gas properties, amortization excluded	$ 118,893	$ 121,245
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	42,161,532	36,986,532
Common Stock, Shares, Outstanding	42,161,532	36,986,532

Combined Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Revenues:
Oil sales	$ 41,034	$ 14,366	$ 66,287	$ 29,012
Natural gas sales	988	205	1,727	397
Natural gas sales - related party	680	106	1,092	261
Natural gas liquid sales	1,649	841	3,471	1,575
Natural gas liquid sales - related party	1,043	512	1,726	1,136
Total revenues	45,394	16,030	74,303	32,381
Costs and expenses:
Lease operating expenses	5,695	3,523	10,928	5,744
Lease operating expenses - related party	392	6	594	574
Production taxes	2,080	738	3,431	1,479
Production taxes - related party	116	44	192	100
Gathering and transportation	31	35	106	52
Gathering and transportation - related party	216	44	274	94
Depreciation, depletion and amortization	14,815	5,659	25,553	10,416
General and administrative expenses	2,355	1,005	4,540	1,480
General and administrative expenses - related party	266	648	552	1,357
Asset retirement obligation accretion expense	45	21	88	41
Total costs and expenses	26,011	11,723	46,258	21,337
Income from operations	19,383	4,307	28,045	11,044
Other income (expense)
Interest income	0	1	0	2
Interest expense	(535)	(1,173)	(1,020)	(2,054)
Other income - related party	388	586	777	1,011
Gain on derivative instruments, net	3,037	9,957	3,029	5,165
Loss from equity investment	0	(54)	0	(67)
Total other income, net	2,890	9,317	2,786	4,057
Income before income taxes	22,273	13,624	30,831	15,101
Provision for income taxes
Deferred income tax provision	7,802	0	10,964	0
Net income	$ 14,471	13,624	$ 19,867	15,101
Earnings per common share
Basic (in dollars per share)	$ 0.37		$ 0.52
Diluted (in dollars per share)	$ 0.36		$ 0.52
Weighted average common shares outstanding
Basic (in shares)	39,402,282		38,237,149
Diluted (in shares)	39,718,574		38,476,719
Pro forma information
Income before income taxes, as reported	$ 22,273	13,624	$ 30,831	15,101
Pro forma provision for income taxes		4,857		5,384
Pro forma net income		$ 8,767		$ 9,717
Pro forma earnings per common share - basic and diluted		$ 0.60		$ 0.66
Pro forma weighted average common shares outstanding - basic and diluted		14,697,496		14,697,496

Combined Consolidated Statement of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2013 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital	Accumulated Deficit
Balance at beginning of period at Dec. 31, 2012	$ 462,068	$ 370	$ 513,772	$ (52,074)
Balance at beginning of period, shares at Dec. 31, 2012	36,986,532	36,986,532
Increase (Decrease) in Stockholders' Equity
Stock-based compensation	$ 1,183		1,183
Common shares issued in public offering, net of offering costs	144,491	$ 52	144,439
Common shares issued in public offering, net of offering costs, shares		5,175,000
Net income	19,867			19,867
Balance at end of period at Jun. 30, 2013	$ 627,609	$ 422	$ 659,394	$ (32,207)
Balance at end of period, shares at Jun. 30, 2013	42,161,532	42,161,532

- Definition

This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References + Details

Combined Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Cash flows from operating activities:
Net income	$ 19,867	$ 15,101
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for deferred income taxes	10,964	0
Asset retirement obligation accretion expense	88	41
Depreciation, depletion, and amortization	25,553	10,416
Amortization of debt issuance costs	318	212
Change in fair value of derivative instruments	(5,429)	(5,165)
Loss from equity investment	0	67
Equity-based compensation expense	936	582
Gain on sale of assets	(30)	(10)
Changes in operating assets and liabilities:
Accounts receivable	(12,185)	(2,915)
Accounts receivable-related party	5,110	7,111
Inventories	(96)	181
Prepaid expenses and other	(1,517)	(1,590)
Accounts payable and accrued liabilities	4,543	2,058
Accounts payable and accrued liabilities-related party	(74)	(1,484)
Revenues and royalties payable	1,750	(349)
Revenues and royalties payable-related party	0	(1,595)
Net cash provided by operating activities	49,798	22,661
Cash flows from investing activities:
Additions to oil and natural gas properties	(108,977)	(50,576)
Additions to oil and natural gas properties-related party	(9,298)	(4,629)
Acquisition of Gulfport properties	(18,550)	0
Purchase of other property and equipment	(1,615)	(637)
Proceeds from sale of property and equipment	54	10
Settlement of non-hedge derivative instruments	(289)	(5,263)
Receipt on derivative margins	0	1,479
Net cash used in investing activities	(138,675)	(59,616)
Cash flows from financing activities:
Proceeds from borrowings on credit facility	49,000	15,000
Repayment on credit facility	(49,000)	0
Proceeds from note payable - related party	0	14,100
Debt issuance costs	(72)	(42)
Public offering costs	(447)	(729)
Proceeds from public offering	144,936	0
Contributions by members	0	4,008
Net cash provided by financing activities	144,417	32,337
Net increase (decrease) in cash and cash equivalents	55,540	(4,618)
Cash and cash equivalents at beginning of period	26,358	6,959
Cash and cash equivalents at end of period	81,898	2,341
Supplemental disclosure of cash flow information:
Interest paid, net of capitalized interest	383	876
Supplemental disclosure of non-cash transactions:
Asset retirement obligation incurred	111	95
Distribution of equity method investments	0	10,504
Note payable exchanged for equipment	$ 0	$ 411

Description of the Business and Basis of Presentation	6 Months Ended
Description of the Business and Basis of Presentation	Jun. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Basis of Presentation	DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION Organization and Description of the Business Diamondback Energy, Inc. (“Diamondback” or the “Company”) together with its subsidiaries, is an independent oil and gas company currently focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. Diamondback was incorporated in Delaware on December 30, 2011, and did not conduct any material business operations until October 11, 2012 when Diamondback merged with its parent entity, Diamondback Energy LLC, with Diamondback continuing as the surviving entity (the “Merger”). Prior to the Merger, Diamondback Energy LLC was a holding company and did not conduct any material business operations other than its ownership of the Diamondback’s common stock and the membership interests in Diamondback O&G LLC (formerly known as Windsor Permian LLC, or “Windsor Permian”). As a result of the Merger, Windsor Permian became a wholly-owned subsidiary of Diamondback. Also on October 11, 2012, Wexford Capital LP (“Wexford”), our equity sponsor, caused all of the outstanding equity interests in Windsor UT LLC (“Windsor UT”) to be contributed to Windsor Permian prior to the Merger in a transaction referred to as the “Windsor UT Contribution”. The Windsor UT Contribution was treated as a combination of entities under common control with assets and liabilities transferred at their carrying amounts in a manner similar to a pooling of interests. We refer to the historical results of Windsor Permian and Windsor UT prior to October 11, 2012 as our “Predecessors”. Immediately after the Merger on October 11, 2012, Diamondback acquired from Gulfport Energy Corporation (“Gulfport”) all of its oil and natural gas interests in the Permian Basin (the “Gulfport properties”) in exchange for shares of Diamondback common stock and a promissory note in a transaction referred to as the Gulfport transaction. The Gulfport transaction was treated as a business combination accounted for under the acquisition method of accounting with the identifiable assets and liabilities recognized at fair value on the date of transfer. See Note 3—Acquisitions for information regarding the acquisition. On October 17, 2012, the Company completed its initial public offering (“IPO”) of 14,375,000 shares of common stock, which included 1,875,000 shares of common stock issued pursuant to an option to purchase additional shares granted to the underwriters. The stock was sold to the public at $17.50 per share and the Company received net proceeds of approximately $234.1 million from the sale of these shares of common stock, net of offering expenses and underwriting discounts and commissions. In the first quarter of 2013, Windsor UT merged with and into Windsor Permian and Windsor Permian, the surviving entity in the merger, was renamed Diamondback O&G LLC, or Diamondback O&G. On May 22, 2013, the Company completed an underwritten primary public offering of 5,175,000 shares of common stock, which included 675,000 shares of common stock issued pursuant to an option to purchase additional shares granted to the underwriters. The stock was sold to the public at $29.25 per share and the Company received net proceeds of approximately $144.4 million from the sale of these shares of common stock, net of offering expenses and underwriting discounts and commissions. On June 24, 2013, Gulfport and certain entities controlled by Wexford completed an underwritten secondary public offering of 6,000,000 shares of the Company’s common stock and, on July 5, 2013, the underwriters purchased an additional 869,222 shares of the Company’s common stock from these selling stockholders pursuant to an option to purchase such additional shares granted to the underwriters. The shares were sold to the public at $34.75 per share and the selling stockholders received all proceeds from this offering. 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 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 the disclosures are adequate to make the information presented not misleading. This Quarterly Report on Form 10–Q should be read in conjunction with the Company’s most recent Annual Report on Form 10–K for the fiscal year ended December 31, 2012, which contains a summary of the Company’s significant accounting policies and other disclosures. Transfers of a business between entities under common control are accounted for as if the transfer occurred at the beginning of the period, and prior years are retrospectively adjusted to furnish comparative information. As discussed above, the Windsor UT Contribution was accounted for as a transaction between entities under common control. Thus, the accompanying combined consolidated financial statements and related notes of the Company have been retrospectively adjusted to include the historical results of Windsor UT at historical carrying values and its operations prior to October 11, 2012, the effective date of the Windsor UT Contribution. The accompanying financial statements and related notes presented herein represent the combined results of operations and cash flows of our Predecessors through October 11, 2012, and the Company and its wholly-owned subsidiaries consolidated financial position, results of operations, cash flows and equity subsequent to October 11, 2012. All intercompany balances and transactions are eliminated in consolidation.

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2013
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates Certain amounts included in or affecting the Company’s combined consolidated financial statements and related disclosures must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the combined consolidated financial statements are prepared. These estimates and assumptions affect the amounts the Company reports for assets and liabilities and the Company’s disclosure of contingent assets and liabilities at the date of the combined consolidated financial statements. Actual results could differ from those estimates. The Company evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Company considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Company’s estimates. Any effects on the Company’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, asset retirement obligations, the fair value determination of acquired assets and liabilities, stock-based compensation, fair value estimates of commodity derivatives and estimates of income taxes. Unaudited Pro Forma Income Taxes Diamondback was formed as a holding company on December 30, 2011, and did not conduct any material business operations prior to the Merger. Diamondback is a C-Corporation under the Internal Revenue Code and is subject to income taxes. The Company computed a pro forma income tax provision as if the Company and our Predecessors were subject to income taxes since December 31, 2011. 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. Unaudited Pro Forma Earnings per Share The Company’s pro forma basic earnings per share amounts have been computed based on the weighted-average number of shares of common stock outstanding for the period, as if the common shares issued upon the Merger were outstanding for the entire year. Diluted earnings per share reflects the potential dilution, using the treasury stock method, which assumes that options were exercised and restricted stock awards and units were fully vested. During periods in which the Company realizes a net loss, options and restricted stock awards would not be dilutive to net loss per share and conversion into common stock is assumed not to occur.

Acquisitions

6 Months Ended

Jun. 30, 2013

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

On October 11, 2012, the Company completed the acquisition of Gulfport’s oil and natural gas interests in the Permian Basin. The following unaudited summary pro forma combined consolidated statement of operations data of Diamondback for the three months and six months ended June 30, 2012 has been prepared to give effect to the acquisition as if it had occurred on January 1, 2011. The pro forma data are not necessarily indicative of financial results that would have been attained had the acquisition 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.



	Three Months Ended			Six Months Ended
	June 30, 2012			June 30, 2012
	(Pro Forma)			(Pro Forma)
Pro forma total revenues	$	22,951,000		$	46,572,000
Pro forma income from operations	6,405,000			15,691,000
Pro forma net income	15,722,000		⁽¹⁾	19,748,000		⁽¹⁾

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

Property and Equipment

6 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment includes the following:



	June 30,			December 31,
	2013			2012
Oil and natural gas properties:
Subject to depletion	$	728,839,000		$	576,497,000
Not subject to depletion-acquisition costs
Incurred in 2013	5,984,000			—
Incurred in 2012	109,059,000			117,395,000
Incurred in 2011	1,670,000			1,670,000
Incurred in 2010	1,647,000			1,647,000
Incurred in 2009	533,000			533,000
Total not subject to depletion	118,893,000			121,245,000

Gross oil and natural gas properties	847,732,000			697,742,000
Less accumulated depreciation, depletion, amortization and impairment	(170,286,000		)	(145,102,000		)
Oil and natural gas properties, net	677,446,000			552,640,000

Other property and equipment	4,749,000			2,337,000
Less accumulated depreciation	(1,023,000		)	(735,000		)
Other property and equipment, net	3,726,000			1,602,000

Property and equipment, net of accumulated depreciation, depletion, amortization and impairment	$	681,172,000		$	554,242,000

The average depletion rate per barrel equivalent unit of production was $24.42 and $24.44 for the three months and six months ended June 30, 2013, respectively, and $24.26 and $23.70 for the three months and six months ended June 30, 2012, respectively. Internal 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 internal costs not directly associated with exploration and development activities were charged to expense as they were incurred. Capitalized internal costs were approximately $843,000 and $1,640,000 for the three months and six months ended June 30, 2013, respectively, and $1,083,000 and $1,775,000 for the three months and six months ended June 30, 2012, respectively. Costs associated with unevaluated properties are excluded from the full cost pool until the Company has made a determination as to the existence of proved reserves. The inclusion of the Company’s unevaluated costs into the amortization base is expected to be completed within three to five years.

- 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

6 Months Ended

Jun. 30, 2013

Asset Retirement Obligation [Abstract]

Asset Retirement Obligation

ASSET RETIREMENT OBLIGATIONS

The following table describes the changes to the Company’s asset retirement obligation liability for the following periods:



	Six Months Ended
	June 30,
	2013		2012
Asset retirement obligation, beginning of period	$	2,145,000	$	1,104,000
Additional liability incurred	111,000		95,000
Accretion expense	88,000		41,000
Asset retirement obligation, end of period	2,344,000		1,240,000
Less current portion	20,000		19,000
Asset retirement obligations - long-term	$	2,324,000	$	1,221,000

The Company’s asset retirement obligations primarily relate to the future plugging and abandonment of wells and related facilities. The Company estimates the future plugging and abandonment costs of wells, the ultimate productive life of the properties, a risk-adjusted discount rate and an inflation factor in order to determine the current present value of this obligation. To the extent future revisions to these assumptions impact the present value of the existing asset retirement obligation liability, a corresponding adjustment is made to the oil and natural gas property balance.

Equity Method Investments	6 Months Ended
Equity Method Investments	Jun. 30, 2013
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	EQUITY METHOD INVESTMENTS Bison Drilling and Field Services LLC On November 15, 2010, the Company formed a wholly owned subsidiary, Bison Drilling and Field Services LLC (“Bison”), formerly known as Windsor Drilling LLC. In addition, on March 2, 2010, the Company formed a wholly owned subsidiary, West Texas Field Services LLC, which, on January 1, 2011, contributed all of its assets and liabilities to Bison and West Texas Field Services LLC was subsequently dissolved on June 12, 2012. Bison owns and operates drilling rigs and various oil and natural 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. The Company eliminated intercompany profits or losses in relation to its continuing involvement with Bison, proportionate to its equity interest. Under the equity method, generally the Company’s share of investees’ earnings or loss is recognized in the combined consolidated statements of operations. However, because substantially all of Bison’s earnings were generated by performing services on properties owned and operated by the Company, the Company’s share of Bison’s earnings have been credited to oil and natural gas properties. 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 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 (“Muskie”), a Delaware limited liability company now known as Muskie Proppant LLC, 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 from January 1, 2012 through June 15, 2012 and the Company 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 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

6 Months Ended

Jun. 30, 2013

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 providing for a revolving credit facility. On May 10, 2012, the revolving credit agreement was amended to provide for the resignation of BNP, and the appointment of Wells Fargo Bank, National Association, as administrative agent for the lenders. The loan agreement, as amended, provides for a $250.0 million revolving credit facility subject to scheduled semi-annual and other elective collateral borrowing base redeterminations based on our oil and natural gas reserves (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 months period. The borrowing base was $100.0 million at December 31, 2011. The borrowing base increased throughout 2012 and 2013 through various redeterminations and at December 31, 2012 and June 30, 2013, the borrowing base was $135.0 million and $180.0 million, respectively. In connection with the IPO, the Company repaid all outstanding borrowings under its revolving credit facility and, as of December 31, 2012, had no outstanding borrowings. In connection with the public offering of the Company’s common stock in May 2013, the Company repaid all outstanding borrowings under its revolving credit facility and, as of June 30, 2013, had no outstanding borrowings under this facility.

The revolving credit 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, N.A. (45%), Amegy Bank, N.A. (25%), U.S. Bank, N.A. (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 4.0 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

The revolving credit agreement defines EBITDAX, for any period, as the sum of consolidated net income for such period plus the following expenses or charges to the extent deducted from consolidated net income for such period: interest; income taxes; depreciation, depletion, amortization and exploration expenses; extraordinary items and other similar non-cash charges, including expenses related to stock-based compensation and hedging, minus all non-cash income added to consolidated net income.

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, 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 12 months consecutive calendar months from $250,000 to $550,000.

As of June 30, 2013, the Company was in compliance with all financial covenants under the revolving credit facility. The lenders may accelerate all of the indebtedness under the revolving 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 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.

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 June 30, 2013 and December 31, 2012, the Company had amounts outstanding under this note of $266,000 and $338,000, respectively.

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 could, from time to time, advance up to an aggregate of $45.0 million. These advances were solely at the lender’s discretion and neither Wexford nor any of its affiliates had any commitment or obligation to provide further capital support to the Company. The note bore interest at a rate equal to LIBOR plus 0.28% or 8% per annum, whichever was lower. Interest was due quarterly in arrears beginning on July 1, 2012. Interest payments were 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 was due and payable in full on January 31, 2015 or the earlier completion of an initial public offering. Any indebtedness evidenced by this note was subordinate in the right of payment to any indebtedness outstanding under the Company’s revolving credit facility. As of June 30, 2012, there was $14.1 million in aggregate principal amount outstanding under this note. In connection with the IPO, the Company repaid all outstanding borrowings under the subordinated note and the subordinated note was canceled.

- 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

Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE & PRO FORMA EARNINGS PER SHARE

Earnings Per Share

The Company’s basic earnings per share amounts have been computed based on the weighted-average number of shares of common stock outstanding for the period. A reconciliation of the components of basic and diluted earnings per common share is presented in the table below:



	Three Months Ended June 30, 2013
				Per
	Income		Shares	Share
Basic:
Net income attributable to common stock	$	14,471,000	39,402,282	$	0.37
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable	$	—	316,292
Diluted:
Net income attributable to common stock	$	14,471,000	39,718,574	$	0.36



	Six Months Ended June 30, 2013
				Per
	Income		Shares	Share
Basic:
Net income attributable to common stock	$	19,867,000	38,237,149	$	0.52
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable	$	—	239,570
Diluted:
Net income attributable to common stock	$	19,867,000	38,476,719	$	0.52

Pro Forma Earnings Per Share

The Company’s pro forma basic earnings per share amounts have been computed based on the weighted-average number of shares of common stock outstanding for the period, as if the common shares issued upon the Merger were outstanding for the entire year. A reconciliation of the components of pro forma basic and diluted earnings per common share is presented in the table below:



	Three Months Ended June 30, 2012
				Per
	Income		Shares	Share
Basic:
Pro forma net income attributable to common stock	$	8,767,000	14,697,496	$	0.60
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable	$	—	—
Diluted:
Pro forma net income attributable to common stock	$	8,767,000	14,697,496	$	0.60



	Six Months Ended June 30, 2012
				Per
	Income		Shares	Share
Basic:
Pro forma net income attributable to common stock	$	9,717,000	14,697,496	$	0.66
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable	$	—	—
Diluted:
Pro forma net income attributable to common stock	$	9,717,000	14,697,496	$	0.66

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: 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.(d),(e))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Subparagraph (SAB TOPIC 4.E)
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 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 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
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-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 16: http://www.xbrl.org/2003/role/presentationRef
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-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 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
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-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
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-Number 210
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-Paragraph 29, 30, 31
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
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Reference 20: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 08
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Reference 21: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
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Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-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 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Stock and Equity Based Compensation

6 Months Ended

Jun. 30, 2013

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

Stock and Equity Based Compensation

STOCK AND EQUITY BASED COMPENSATION

For the three months and six months ended June 30, 2013, the Company incurred $700,000 and $1,356,000, respectively, of stock based compensation, of which the Company capitalized $223,000 and $420,000, respectively, pursuant to the full cost method of accounting for oil and natural gas properties. For the three months and six months ended June 30, 2012, the Company incurred $291,000 and $582,000, respectively, of equity based compensation, of which the Company capitalized $116,000 and $223,000, respectively, pursuant to the full cost method of accounting for oil and natural gas properties.

The following table presents the Company’s stock option activity under the 2012 Plan for the six months ended June 30, 2013.



		Weighted Average
		Exercise		Remaining	Intrinsic
	Options	Price		Term	Value
				(In years)
Outstanding at December 31, 2012	850,000	$	17.50
Granted	63,000	$	22.72
Exercised	—	$	—
Expired/Forfeited	—	$	—
Outstanding at June 30, 2013	913,000	$	17.86	3.28	$	14,115,000

Vested and Expected to vest at June 30, 2013	913,000	$	17.86	3.28	$	14,115,000
Exercisable at June 30, 2013	287,500	$	17.50	2.99	$	4,548,000

As of June 30, 2013, the unrecognized compensation cost related to unvested stock options was $2,347,000. Such cost is expected to be recognized over a weighted-average period of 2.3 years.

The following table presents the Company’s restricted stock awards and units activity under the 2012 Plan for the six months ended June 30, 2013.



		Weighted Average
	Restricted Stock	Grant-Date
	Awards & Units	Fair Value
Unvested at December 31, 2012	206,507	$	17.50
Granted	—	$	—
Vested	14,286	$	17.50
Forfeited	—	$	—
Unvested at June 30, 2013	192,221	$	17.50

As of June 30, 2013, the Company’s unrecognized compensation cost related to unvested restricted stock awards and units was $2,574,000. Such cost is expected to be recognized over a weighted-average period of 2.0 years.

- 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
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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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

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2013
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 initial term of this shared service agreement was two years. Since the expiration of such two-year period on March 1, 2010, the agreement by its terms, continued on a month-to-month basis. For the three months and six months ended June 30, 2013, the Company incurred total costs of $51,000 and $109,000, respectively. For the three months and six months ended June 30, 2012, the Company incurred total costs of $1,673,000 and $4,123,000, 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 $613,000 and $1,152,000 for the three months and six months ended June 30, 2012, respectively. As of June 30, 2013 and December 31, 2012, the Company owed the administrative services affiliate $16,000 and $13,000, respectively. 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 six months ended June 30, 2013, the affiliate reimbursed the Company $388,000 and $777,000, respectively, and for the three months and six months ended June 30, 2012, the affiliate reimbursed the Company $586,000 and $1,011,000, respectively for services under the shared services agreement. As of June 30, 2013 and December 31, 2012, the affiliate owed the Company no amounts and $1,000, respectively. These amounts are 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 June 30, 2013 and December 31, 2012, amounts due from an affiliate related to joint interest billings and included in accounts receivable-related party in the accompanying consolidated balance sheets were $183,000 and $742,000, respectively. Drilling Services Bison has performed drilling and field services for the Company under master drilling and field service agreements. Under the Company’s most recent master drilling agreement with Bison, effective as of January 1, 2013, Bison committed to accept orders from the Company for the use of at least two of its rigs. At June 30, 2013, Bison was providing drilling services to the Company using one of its rigs. This master drilling agreement is terminable by either party on 30 days 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. The Company owed Bison $708,000 as of June 30, 2013 and $120,000 as of December 31, 2012. MidMar The Company is party to a gas purchase agreement, dated May 1, 2009, as amended, with MidMar Gas LLC (“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 year 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. The Company recognized revenues from Midmar of $1,723,000 and $2,818,000 for the three months and six months ended June 30, 2013, respectively, and $618,000 and $1,397,000 for the three months and six months ended June 30, 2012, respectively. As of June 30, 2013 and December 31, 2012, MidMar owed the Company $465,000 and $6,000, respectively, for the Company’s portion of the net proceeds from the sale of gas, gas products and residue gas. Sand Supply Muskie, an entity affiliated with Wexford, holds certain rights in a lease covering land in Wisconsin for mining oil and natural gas fracture grade sand. The Company began purchasing sand from Muskie in March 2013. The Company incurred costs of zero and $234,000 for the three months and six months ended June 30, 2013. As of June 30, 2013, the Company did not owe Muskie any amounts. 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. The Company paid $43,000 and $82,000 for the three months and six months ended June 30, 2013, respectively, and $40,000 and $72,000, for the three months and six months ended June 30, 2012, respectively, under this lease. In the second quarter of 2013, we amended this agreement to increase the size of the leased premises. The current monthly rent under the lease will increase from $13,000 to $15,000 beginning on September 1, 2013 and $21,000 beginning on October 1, 2013. The monthly rent will increase approximately 4% annually on June 1 of each year during the remainder of 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. The Company paid $58,000 and $111,000 for the three months and six months ended June 30, 2013, respectively, and $82,000 and $206,000 for the three months and six months ended June 30, 2012, respectively, under this lease. Effective April 1, 2013, we amended this lease to increase the size of the leased premises, at which time our monthly base rent increased to $19,000 for the remainder of the lease term. The Company is also responsible for paying a portion of specified costs, fees and expenses associated with the operation of the premises. Advisory Services Agreement & Professional Services from Wexford The Company entered into an advisory services agreement (the “Advisory Services Agreement”) with Wexford, dated as of October 11, 2012, under which Wexford provides the Company 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 October 18, 2012, 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 the Company terminates such agreement, it is obligated to pay all amounts due through the remaining term. In addition, the Company agreed to pay Wexford to-be-negotiated market-based fees approved by the Company’s independent directors for such services as may be provided by Wexford at the Company’s request in connection with future acquisitions and divestitures, financings or other transactions in which the Company may be involved. The services provided by Wexford under the Advisory Services Agreement do not extend to the Company’s day-to-day business or operations. The Company 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. The Company incurred total costs of $125,000 and $250,000 for the three months and six months ended June 30, 2013, respectively, under the Advisory Services Agreement. Wexford provides certain professional services to the Company, for which the Company incurred total costs of $57,000 and $94,000 for the three months and six months ended June 30, 2012, respectively. As of June 30, 2013 and December 31, 2012, the Company owed Wexford no amounts and $113,000, respectively. These amounts are included in accounts payable-related party in the accompanying consolidated balance sheets. Secondary Offering Costs On June 24, 2013, Gulfport and certain entities controlled by Wexford completed an underwritten secondary public offering of 6,000,000 shares of the Company’s common stock and, on July 5, 2013, the underwriters purchased an additional 869,222 shares of the Company’s common stock from these selling stockholders pursuant to an option to purchase such additional shares granted to the underwriters. The shares were sold to the public at $34.75 per share and the selling stockholders received all proceeds from this offering. The Company incurred costs of approximately $179,000 related to the secondary public offering.

- 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

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+ Details

Derivatives

6 Months Ended

Jun. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

DERIVATIVES

All derivative financial instruments are recorded at fair value. The Company has not designated its derivative instruments as hedges for accounting purposes and, as a result, marks its derivative instruments to fair value and recognizes the realized and unrealized changes in fair value in the combined consolidated statements of operations under the caption “Gain on derivative instruments.”

The Company has used price swap contracts to reduce price volatility associated with certain of its oil sales. With respect to the Company’s fixed price swap contracts, the counterparty is required to make a payment to the Company if the settlement price for any settlement period is less than the swap price, and the Company is required to make a payment to the counterparty if the settlement price for any settlement period is greater than the swap price. The Company’s derivative contracts are based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on New York Mercantile Exchange West Texas Intermediate pricing, Argus Louisiana light sweet pricing or Inter–Continental Exchange (“ICE”) pricing for Brent crude oil. The counterparties to the Company’s derivative contracts are BNP Paribas and Wells Fargo Bank, N.A., who the Company believes are acceptable credit risks.

As of June 30, 2013, the Company had open crude oil derivative positions with respect to future production as set forth in the tables below.



Crude Oil—NYMEX West Texas Intermediate Fixed Price Swap

Production Period	Volume (Bbls)	Fixed Swap Price
July–December 2013	184,000	$	80.55

Crude Oil—Argus Louisiana Light Sweet Fixed Price Swap

Production Period	Volume (Bbls)	Fixed Swap Price
July - December 2013	184,000	$	100.20
January - June 2014	181,000	100.20

Crude Oil—ICE Brent Fixed Price Swap

Production Period	Volume (Bbls)	Fixed Swap Price
July–December 2013	184,000	$	109.70
January–April 2014	120,000	109.70

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. These fair values are recorded by netting asset and liability positions that are with the same counterparty and are subject to contractual terms which provide for net settlement. The net amounts are classified as current or noncurrent based on their anticipated settlement dates. The net fair value of the Company’s derivative assets and liabilities and their locations on the consolidated balance sheet are as follows:



	June 30,		December 31,
	2013		2012
Current Assets: Derivative instruments	$	3,191,000	$	—
Noncurrent Assets: Derivative instruments	—		—
Total Assets	$	3,191,000	$	—

Current Liabilities: Derivative instruments	$	2,679,000	$	4,817,000
Noncurrent Liabilities: Derivative instruments	—		388,000
Total Liabilities	$	2,679,000	$	5,205,000

The following table presents the netting offsets of the Company’s derivative assets and liabilities as of June 30, 2013 and December 31, 2012.



	June 30, 2013
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
Derivative assets:
Crude Oil—ICE Brent Fixed Price Swap	$	2,891,000	$	—	$	2,891,000
Crude Oil—Argus Louisiana Light Sweet Fixed Price Swap	300,000		—		300,000

	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
Derivative liabilities:
Crude Oil—NYMEX West Texas Intermediate Fixed Price Swap	$	2,679,000	$	—	$	2,679,000



	December 31, 2012
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
Derivative liabilities:
Crude Oil—NYMEX West Texas Intermediate Fixed Price Swap	$	5,205,000	$	—	$	5,205,000

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 table summarizes the gains and losses on derivative instruments included in the combined consolidated statements of operations:



	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Unrealized gain on open non-hedge derivative instruments	$	3,893,000		$	12,065,000		$	5,428,000		$	8,638,000
Loss on settlement of non-hedge derivative instruments	(856,000		)	(2,108,000		)	(2,399,000		)	(3,473,000		)
Gain on derivative instruments	$	3,037,000		$	9,957,000		$	3,029,000		$	5,165,000

- 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.

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+ Details

Fair Value Measurements

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

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.

The fair value hierarchy is 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.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Certain assets and liabilities are reported at fair value on a recurring basis, including the Company’s derivative instruments. The fair values of the Company’s fixed price crude oil swaps are measured internally using established commodity futures price strips for the underlying commodity provided by a reputable third party, the contracted notional volumes, and time to maturity. These valuations are Level 2 inputs.

The following table provides fair value measurement information for financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2013 and December 31, 2012.



	Fair value measurements at June 30, 2013 using:
	Quoted Prices in Active Markets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Assets:
Fixed price swaps	$	—	$	3,191,000	$	—	$	3,191,000
Liabilities:
Fixed price swaps	—		2,679,000		—		2,679,000

	Fair value measurements at December 31, 2012 using:
	Quoted Prices in Active Markets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Liabilities:
Fixed price swaps	$	—	$	5,205,000	$	—	$	5,205,000

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

The following table provides the fair value of financial instruments that are not recorded at fair value in the combined consolidated financial statements.



	June 30, 2013				December 31, 2012
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
Debt:
Note payable	$	266,000	$	249,000	$	338,000	$	305,000

The fair value of the note payable is determined using internal discounted cash flow calculations based on the interest rate and payment terms of the note payable. The fair value of the note payable is classified as Level 3 in the fair value hierarchy.

- 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.

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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

Contingencies	6 Months Ended
Contingencies	Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES In September 2010, Windsor Permian (now known as Diamondback O&G LLC) purchased certain property in Goodhue County, Minnesota, that was prospective for hydraulic fracturing grade sand. Prior to the purchase, the prior owners of the property had entered into a Mineral Development Agreement with the plaintiff and the Company purchased the property subject to that agreement. Windsor Permian subsequently contributed the property to Muskie. In an amended complaint filed in November 2012 by the plaintiff against the prior owners of the property, Windsor Permian and certain affiliates of Windsor Permian in the first judicial district court in Goodhue County, Minnesota, the plaintiff seeks damages from the Company and the other defendants alleging, among other things, interference with contractual relationship, interference with prospective advantage and unjust enrichment. In an order filed on May 24, 2013, the judge denied certain motions made by the defendants and set a trial date to determine liability, with a damage phase of the matter to commence on a later date if there is a determination of liability. Following a trial on the liability phase on June 21, 2013, the jury determined that the defendants intentionally interfered with plaintiff’s contract but that the interference did not cause the plaintiff to be unable to acquire mining permits prior to the enactment of the moratorium by Goodhue County. In an order filed on July 10, 2013, the judge ordered the damage phase to be set for trial following a pretrial and scheduling conference set for August 12, 2013. The Company believes these claims are without merit and will continue to vigorously defend this action. While management has determined that the possibility of loss is remote, litigation is inherently uncertain and management cannot determine the amount of loss, if any, that may result. 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	6 Months Ended
Subsequent Events	Jun. 30, 2013
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS The Company has entered into two definitive agreements with unrelated third party sellers to purchase an aggregate of approximately 13,900 gross (11,150 net) operated acres in the Midland Basin for an aggregate of approximately $165,000,000, subject to certain adjustments. The Company entered into one agreement on August 1, 2013 and one agreement on August 2, 2013. The proposed transactions are expected to close by the end of September 2013.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2013
Accounting Policies [Abstract]
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 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 the disclosures are adequate to make the information presented not misleading. This Quarterly Report on Form 10–Q should be read in conjunction with the Company’s most recent Annual Report on Form 10–K for the fiscal year ended December 31, 2012, which contains a summary of the Company’s significant accounting policies and other disclosures. Transfers of a business between entities under common control are accounted for as if the transfer occurred at the beginning of the period, and prior years are retrospectively adjusted to furnish comparative information. As discussed above, the Windsor UT Contribution was accounted for as a transaction between entities under common control. Thus, the accompanying combined consolidated financial statements and related notes of the Company have been retrospectively adjusted to include the historical results of Windsor UT at historical carrying values and its operations prior to October 11, 2012, the effective date of the Windsor UT Contribution. The accompanying financial statements and related notes presented herein represent the combined results of operations and cash flows of our Predecessors through October 11, 2012, and the Company and its wholly-owned subsidiaries consolidated financial position, results of operations, cash flows and equity subsequent to October 11, 2012. All intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	Use of Estimates Certain amounts included in or affecting the Company’s combined consolidated financial statements and related disclosures must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the combined consolidated financial statements are prepared. These estimates and assumptions affect the amounts the Company reports for assets and liabilities and the Company’s disclosure of contingent assets and liabilities at the date of the combined consolidated financial statements. Actual results could differ from those estimates. The Company evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Company considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Company’s estimates. Any effects on the Company’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, asset retirement obligations, the fair value determination of acquired assets and liabilities, stock-based compensation, fair value estimates of commodity derivatives and estimates of income taxes.
Fair Value Measurements	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. The fair value hierarchy is 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 regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2197480

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 40
-Section 45
-URI http://asc.fasb.org/section&trid=2197723

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2196966

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=2197087

Reference 5: 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 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.3A-02)
-URI http://asc.fasb.org/extlink&oid=6959686&loc=d3e355033-122828

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=16385135&loc=d3e33801-111570

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-Subparagraph c
-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 AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 5, 6, 16-19
-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 Emerging Issues Task Force (EITF)
-Number 96-16
-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 FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-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 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 20
-Subparagraph a(2)
-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 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-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 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 97-2
-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 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph k
-Article 1

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 140
-Paragraph 46
-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 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02, 03
-Article 3A

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 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

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2013

Business Combinations [Abstract]

Schedule of business acquisition pro forma

The following unaudited summary pro forma combined consolidated statement of operations data of Diamondback for the three months and six months ended June 30, 2012 has been prepared to give effect to the acquisition as if it had occurred on January 1, 2011. The pro forma data are not necessarily indicative of financial results that would have been attained had the acquisition 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.



	Three Months Ended			Six Months Ended
	June 30, 2012			June 30, 2012
	(Pro Forma)			(Pro Forma)
Pro forma total revenues	$	22,951,000		$	46,572,000
Pro forma income from operations	6,405,000			15,691,000
Pro forma net income	15,722,000		⁽¹⁾	19,748,000		⁽¹⁾

(1) This amount does not include a 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)

6 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment includes the following:



	June 30,			December 31,
	2013			2012
Oil and natural gas properties:
Subject to depletion	$	728,839,000		$	576,497,000
Not subject to depletion-acquisition costs
Incurred in 2013	5,984,000			—
Incurred in 2012	109,059,000			117,395,000
Incurred in 2011	1,670,000			1,670,000
Incurred in 2010	1,647,000			1,647,000
Incurred in 2009	533,000			533,000
Total not subject to depletion	118,893,000			121,245,000

Gross oil and natural gas properties	847,732,000			697,742,000
Less accumulated depreciation, depletion, amortization and impairment	(170,286,000		)	(145,102,000		)
Oil and natural gas properties, net	677,446,000			552,640,000

Other property and equipment	4,749,000			2,337,000
Less accumulated depreciation	(1,023,000		)	(735,000		)
Other property and equipment, net	3,726,000			1,602,000

Property and equipment, net of accumulated depreciation, depletion, amortization and impairment	$	681,172,000		$	554,242,000

Asset Retirement Obligation (Tables)

6 Months Ended

Jun. 30, 2013

Asset Retirement Obligation [Abstract]

Asset Retirement Obligation

The following table describes the changes to the Company’s asset retirement obligation liability for the following periods:



	Six Months Ended
	June 30,
	2013		2012
Asset retirement obligation, beginning of period	$	2,145,000	$	1,104,000
Additional liability incurred	111,000		95,000
Accretion expense	88,000		41,000
Asset retirement obligation, end of period	2,344,000		1,240,000
Less current portion	20,000		19,000
Asset retirement obligations - long-term	$	2,324,000	$	1,221,000

Debt (Tables)

6 Months Ended

Jun. 30, 2013

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 4.0 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

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Schedule of reconciliation of basic and diluted net income per share

A reconciliation of the components of pro forma basic and diluted earnings per common share is presented in the table below:



	Three Months Ended June 30, 2012
				Per
	Income		Shares	Share
Basic:
Pro forma net income attributable to common stock	$	8,767,000	14,697,496	$	0.60
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable	$	—	—
Diluted:
Pro forma net income attributable to common stock	$	8,767,000	14,697,496	$	0.60



	Six Months Ended June 30, 2012
				Per
	Income		Shares	Share
Basic:
Pro forma net income attributable to common stock	$	9,717,000	14,697,496	$	0.66
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable	$	—	—
Diluted:
Pro forma net income attributable to common stock	$	9,717,000	14,697,496	$	0.66

A reconciliation of the components of basic and diluted earnings per common share is presented in the table below:



	Three Months Ended June 30, 2013
				Per
	Income		Shares	Share
Basic:
Net income attributable to common stock	$	14,471,000	39,402,282	$	0.37
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable	$	—	316,292
Diluted:
Net income attributable to common stock	$	14,471,000	39,718,574	$	0.36



	Six Months Ended June 30, 2013
				Per
	Income		Shares	Share
Basic:
Net income attributable to common stock	$	19,867,000	38,237,149	$	0.52
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable	$	—	239,570
Diluted:
Net income attributable to common stock	$	19,867,000	38,476,719	$	0.52

Stock and Equity Based Compensation (Tables)

6 Months Ended

Jun. 30, 2013

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

Schedule of stock option activity

The following table presents the Company’s stock option activity under the 2012 Plan for the six months ended June 30, 2013.



		Weighted Average
		Exercise		Remaining	Intrinsic
	Options	Price		Term	Value
				(In years)
Outstanding at December 31, 2012	850,000	$	17.50
Granted	63,000	$	22.72
Exercised	—	$	—
Expired/Forfeited	—	$	—
Outstanding at June 30, 2013	913,000	$	17.86	3.28	$	14,115,000

Vested and Expected to vest at June 30, 2013	913,000	$	17.86	3.28	$	14,115,000
Exercisable at June 30, 2013	287,500	$	17.50	2.99	$	4,548,000

Summary of restricted stock awards and units

The following table presents the Company’s restricted stock awards and units activity under the 2012 Plan for the six months ended June 30, 2013.



		Weighted Average
	Restricted Stock	Grant-Date
	Awards & Units	Fair Value
Unvested at December 31, 2012	206,507	$	17.50
Granted	—	$	—
Vested	14,286	$	17.50
Forfeited	—	$	—
Unvested at June 30, 2013	192,221	$	17.50

Derivatives (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

As of June 30, 2013, the Company had open crude oil derivative positions with respect to future production as set forth in the tables below.



Crude Oil—NYMEX West Texas Intermediate Fixed Price Swap

Production Period	Volume (Bbls)	Fixed Swap Price
July–December 2013	184,000	$	80.55

Crude Oil—Argus Louisiana Light Sweet Fixed Price Swap

Production Period	Volume (Bbls)	Fixed Swap Price
July - December 2013	184,000	$	100.20
January - June 2014	181,000	100.20

Crude Oil—ICE Brent Fixed Price Swap

Production Period	Volume (Bbls)	Fixed Swap Price
July–December 2013	184,000	$	109.70
January–April 2014	120,000	109.70

Schedule of derivative instruments included in the consolidated balance sheet

The net fair value of the Company’s derivative assets and liabilities and their locations on the consolidated balance sheet are as follows:



	June 30,		December 31,
	2013		2012
Current Assets: Derivative instruments	$	3,191,000	$	—
Noncurrent Assets: Derivative instruments	—		—
Total Assets	$	3,191,000	$	—

Current Liabilities: Derivative instruments	$	2,679,000	$	4,817,000
Noncurrent Liabilities: Derivative instruments	—		388,000
Total Liabilities	$	2,679,000	$	5,205,000

Schedule of netting offsets of derivative assets and liabilities

The following table presents the netting offsets of the Company’s derivative assets and liabilities as of June 30, 2013 and December 31, 2012.



	June 30, 2013
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
Derivative assets:
Crude Oil—ICE Brent Fixed Price Swap	$	2,891,000	$	—	$	2,891,000
Crude Oil—Argus Louisiana Light Sweet Fixed Price Swap	300,000		—		300,000

	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
Derivative liabilities:
Crude Oil—NYMEX West Texas Intermediate Fixed Price Swap	$	2,679,000	$	—	$	2,679,000



	December 31, 2012
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
Derivative liabilities:
Crude Oil—NYMEX West Texas Intermediate Fixed Price Swap	$	5,205,000	$	—	$	5,205,000

Summary of derivative contract losses included in the consolidated statements of operations

The following table summarizes the gains and losses on derivative instruments included in the combined consolidated statements of operations:



	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Unrealized gain on open non-hedge derivative instruments	$	3,893,000		$	12,065,000		$	5,428,000		$	8,638,000
Loss on settlement of non-hedge derivative instruments	(856,000		)	(2,108,000		)	(2,399,000		)	(3,473,000		)
Gain on derivative instruments	$	3,037,000		$	9,957,000		$	3,029,000		$	5,165,000

- 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

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair value measurement information for financial instruments measured 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 June 30, 2013 and December 31, 2012.



	Fair value measurements at June 30, 2013 using:
	Quoted Prices in Active Markets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Assets:
Fixed price swaps	$	—	$	3,191,000	$	—	$	3,191,000
Liabilities:
Fixed price swaps	—		2,679,000		—		2,679,000

	Fair value measurements at December 31, 2012 using:
	Quoted Prices in Active Markets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Liabilities:
Fixed price swaps	$	—	$	5,205,000	$	—	$	5,205,000

Fair value measurement information for financial instruments measured on a nonrecurring basis

The following table provides the fair value of financial instruments that are not recorded at fair value in the combined consolidated financial statements.



	June 30, 2013				December 31, 2012
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
Debt:
Note payable	$	266,000	$	249,000	$	338,000	$	305,000

Description of the Business and Basis of Presentation (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 05, 2013	Jul. 05, 2013	Jun. 24, 2013	May 22, 2013	Oct. 17, 2012
Issuance of Equity [Member]
Initial Public Offering [Line Items]
Shares issued upon public offering					14,375,000
Common stock issued pursuant to underwriters over allotment option					1,875,000
Stock price per share at public offering					$ 17.50
Net proceeds received from public offerring					$ 234.1
Common Stock [Member]
Initial Public Offering [Line Items]
Shares issued upon public offering				5,175,000
Common stock issued pursuant to underwriters over allotment option				675,000
Stock price per share at public offering				$ 29.25
Net proceeds received from public offerring				$ 144.4
Shares sold in secondary public offering			6,000,000
Subsequent Event [Member] \| Common Stock [Member]
Initial Public Offering [Line Items]
Shares sold by existing stockholders		869,222
Stock price per share, selling stockholders	$ 34.75

Acquisitions - Summary Pro Forma Combined Statement of Operations (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Pro forma total revenues

$ 22,951

$ 46,572

Pro forma income from operations

6,405

15,691

Pro forma net income

^[1]

$ 15,722

$ 19,748

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

Property and Equipment (Details) $ in Thousands	3 Months Ended		6 Months Ended
Property and Equipment (Details) $ in Thousands	Jun. 30, 2013 USD ($) $ / Boe	Jun. 30, 2012 USD ($) $ / Boe	Jun. 30, 2013 USD ($) $ / Boe	Jun. 30, 2012 USD ($) $ / Boe	Dec. 31, 2012 USD ($)
Property, Plant and Equipment
Subject to depletion	$ 728,839		$ 728,839		$ 576,497
Oil and Natural Gas Properties:
Not subject to depletion-acquisition costs	118,893		118,893		121,245
Gross oil and natural gas properties	847,732		847,732		697,742
Less accumulated depreciation, depletion, amortization and impairment	(170,286)		(170,286)		(145,102)
Net oil and natural gas properties capitalized	677,446		677,446		552,640
Other property and equipment	4,749		4,749		2,337
Less accumulated depreciation	(171,309)		(171,309)		(145,837)
Other property and equipment, net	3,726		3,726		1,602
Property and equipment, net of accumulated depreciation, depletion, amortization and impairment	$ 681,172		$ 681,172		554,242
Average depletetion rate per barrel equivalent unit of production \| $ / Boe	24.42	24.26	24.44	23.70
Capitalized general and administrative costs	$ 843	$ 1,083	$ 1,640	$ 1,775
Other property and equipment
Oil and Natural Gas Properties:
Less accumulated depreciation	(1,023)		(1,023)		(735)
Incurred in 2013
Oil and Natural Gas Properties:
Not subject to depletion-acquisition costs	5,984		5,984		0
Incurred in 2012
Oil and Natural Gas Properties:
Not subject to depletion-acquisition costs	109,059		109,059		117,395
Incurred in 2011
Oil and Natural Gas Properties:
Not subject to depletion-acquisition costs	1,670		1,670		1,670
Incurred in 2010
Oil and Natural Gas Properties:
Not subject to depletion-acquisition costs	1,647		1,647		1,647
Incurred in 2009
Oil and Natural Gas Properties:
Not subject to depletion-acquisition costs	$ 533		$ 533		$ 533
Minimum
Oil and Natural Gas Properties:
Number of years until unevaluated propertes are included in full cost pool			3 years
Maximum
Oil and Natural Gas Properties:
Number of years until unevaluated propertes are included in full cost pool			5 years

Asset Retirement Obligation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Changes in ARO liability
Asset retirement obligation, beginning of period			$ 2,145	$ 1,104
Additional liability incurred			111	95
Accretion expense	$ 45	$ 21	88	41
Asset retirement obligation, end of period	2,344	1,240	2,344	1,240
Less current portion	20	19	20	19
Asset retirement obligations - long-term	$ 2,324	$ 1,221	$ 2,324	$ 1,221	$ 2,125

Equity Method Investments (Details) $ in Thousands			1 Months Ended
Equity Method Investments (Details) $ in Thousands	Jun. 15, 2012 USD ($)	May 02, 2011 drilling_rig	Sep. 30, 2011	Apr. 30, 2011 drilling_rig	Dec. 31, 2010 drilling_rig	Oct. 07, 2011 USD ($)
Bison Drilling
Schedule of Equity Method Investments
Number of drilling rigs \| drilling_rig		4
Number of drilling rigs purchased during the period \| drilling_rig				2	2
Percent of membership interest sold to a related party			25.00%
Distribution of equity method investment between entities under common control	$ 6,437
Muskie Holdings
Schedule of Equity Method Investments
Distribution of equity method investment between entities under common control	$ 4,067
Ownership interest	33.00%					48.60%
Amount paid for land and the value of property contributed						$ 4,200

Debt - Line of Credit Facility (Details) $ in Thousands			6 Months Ended
Debt - Line of Credit Facility (Details) $ in Thousands	Sep. 28, 2012 USD ($)	May 14, 2012 USD ($)	Jun. 30, 2013 USD ($) redetermindation	Dec. 31, 2012 USD ($)	Jul. 24, 2012 USD ($)	Dec. 31, 2011 USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 250,000
Quarterly commitment fee percentage based on unused porttion of borrowing base			0.50%
The Company may request additional redeterminations \| redetermindation			3
Period of Redeterminations			12 months
Current borrowing base			$ 180,000	$ 135,000		$ 100,000
Outstanding borrowings under credit facility			$ 0	$ 0
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 months
Aggregate limitation increase on lease payments	$ 550	$ 250
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
Line of Credit Facility [Line Items]
Description of variable rate basis			prime, LIBOR or federal funds rate
Line of Credit \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.25%
Line of Credit \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate			3.50%
Affiliated Entity \| Subordinated Debt
Line of Credit Facility [Line Items]
Description of variable rate basis		LIBOR
Basis spread on variable rate		0.28%
Maximum principal amount of debt	$ 45,000	$ 45,000

Debt - Financial Covenant Table (Details)	Jun. 30, 2013
Maximum
Line of Credit Facility [Line Items]
Ratio of total debt to EBITDAX	4.0
Ratio of debt under revolving credit agreement to EBITDAX	3.0
Minimum
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 agreement	1.0

Debt - Note Payable (Details) - USD ($) $ in Thousands	6 Months Ended
Debt - Note Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Note payable outstanding	$ 266	$ 338
Note Payable
Debt Instrument [Line Items]
Installment payment contract period	36 months

Debt - Subordinated Note (Details) - Affiliated Entity - Subordinated Debt - USD ($) $ in Millions	May 14, 2012	Sep. 28, 2012	Jun. 30, 2012
Debt Instrument [Line Items]
Maximum principal amount of debt	$ 45.0	$ 45.0
Description of variable rate basis	LIBOR
Basis spread on variable rate	0.28%
Stated interest rate	8.00%
Aggregate principal amount outstanding			$ 14.1

Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Basic:
Net income attributable to common stock, basic	$ 14,471		$ 19,867
Net income attributable to common stock, basic (in shares)	39,402,282		38,237,149
Net income attributable to common stock, basic, (in dollars per share)	$ 0.37		$ 0.52
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable	$ 0	$ 0	$ 0	$ 0
Dilutive effect of potential common shares issuable (in shares)	316,292	0	239,570	0
Diluted:
Net income attributable to common stock, diluted	$ 14,471		$ 19,867
Net income attributable to common stock, diluted (in shares)	39,718,574		38,476,719
Net income attributable to common stock, diluted (in dollars per share)	$ 0.36		$ 0.52

Earnings Per Share - Pro Forma Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Basic:
Pro forma net income attributable to common stock, basic		$ 8,767		$ 9,717
Pro forma net income attributable to common stock (in shares)		14,697,496		14,697,496
Pro forma net income attributable to common stock (in dollars per share)		$ 0.60		$ 0.66
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable	$ 0	$ 0	$ 0	$ 0
Dilutive effect of potential common shares issuable (in shares)	316,292	0	239,570	0
Diluted:
Pro forma net income attributable to common stock, diluted		$ 8,767		$ 9,717
Pro forma net income attributable to common stock, diluted (in shares)		14,697,496		14,697,496
Pro forma net income attributable to common stock, diluted (in dollars per share)		$ 0.60		$ 0.66

Stock and Equity Based Compensation - Stock and Equity Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock and equity based compensation	$ 700	$ 291	$ 1,356	$ 582
Capitalized stock and equity based compensation	$ 223	$ 116	$ 420	$ 223

- 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

Stock and Equity Based Compensation - Summary of Company's Outstanding Stock Options (Details) - Stock Options $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2013 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options, Outstanding at beginning of period \| shares	850,000
Options granted \| shares	63,000
Option exercised \| shares	0
Options expired/forfeited \| shares	0
Options, Outstanding at end of period \| shares	913,000
Number of Options, Vested and Expected to Vest, Outstanding at period end \| shares	913,000
Options Exercisable at end of period \| shares	287,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding Options at beginning of period, weighted average exercise price \| $ / shares	$ 17.50
Options Granted, Weighted Average Exercise Price \| $ / shares	22.72
Options Exercised, Weighted Average Exercise Price \| $ / shares	0.00
Options Expired/Forfeited, Weighted Average Exercise Price \| $ / shares	0.00
Outstanding Options at end of period, weighted average exercise price \| $ / shares	17.86
Weighted average exercise price of Options, Vested and Expected to Vest, Outstanding at period end \| $ / shares	17.86
Options exercisable at end of period, Weighted Average Exercise Price \| $ / shares	$ 17.50
Options outstanding, weighted average remaining contractual term at end of period	3 years 3 months 10 days
Remaining Term of Options Outstanding, Vested and Expected to Vest at period end	3 years 3 months 10 days
Stock options are excericasble from the date of grant	2 years 11 months 28 days
Options outstanding at the end of period, Intrinsic Value \| $	$ 14,115
Intrinsic Value of Options Outstanding at end of period, Vested and Expected to Vest \| $	14,115
Options Exercisable at end of period, Intrinsic Value \| $	4,548
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Unrecognized compensation cost related to unvested stock options \| $	$ 2,347
Unrecognized compensation cost, period of recognition	2 years 3 months 5 days

Stock and Equity Based Compensation - Restricted Stock Awards and Units (Details) - 2012 Plan - Restricted Stock Units (RSUs) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2013 USD ($) $ / shares shares
Restricted Stock Awards & Units
Unvested at Beginning of period \| shares	206,507
Granted \| shares	0
Vested \| shares	14,286
Forfeited \| shares	0
Unvested at end of period \| shares	192,221
Weighted Average Grant-Date Fair Value
Unvested at beginning of period \| $ / shares	$ 17.50
Granted \| $ / shares	0.00
Vested \| $ / shares	17.50
Forfeited \| $ / shares	0.00
Unvested at end of period \| $ / shares	$ 17.50
Unrecognized compensation cost related to unvested restricted stock awards and units \| $	$ 2,574
Unrecognized compensation cost, period of recognition	2 years 1 day

Related Party Transactions - Administrative Services (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 02, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Related Party Transaction
Accounts payable-related party		$ 724		$ 724		$ 18,813
Subsidiary of Common Parent
Related Party Transaction
Initial term of the additional shared services agreement				2 years
Related party incurred costs		51	$ 1,673	$ 109	$ 4,123
Expense costs partially offset in general administraticve expenses by overhead reimbursements			613		1,152
Accounts payable-related party		16		16		13
Affiliated Entity
Related Party Transaction
Initial term of the additional shared services agreement	2 years
Agreement termination, written notice period	30 days
Reimbursement from affiliate		388	$ 586	777	$ 1,011
Amount owed by affiliate		$ 0		$ 0		$ 1

Related Party Transactions - Operating Services (Details) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Affiliated Entity
Related Party Transaction
Amounts due from affiliates related to joint interest billings and included in accounts receivable-related party	$ 183	$ 742

Related Party Transactions - Drilling Services (Details) $ in Thousands		6 Months Ended
	Jan. 02, 2012	Jun. 30, 2013 USD ($) drilling_rig	Dec. 31, 2012 USD ($)
Affiliated Entity
Related Party Transaction
Number of drilling rigs committed to use during the period		2
Agreement termination, written notice period	30 days
Affiliated Entity, Bison
Related Party Transaction
Number of drilling rigs		1
Agreement termination, written notice period		30 days
Amount owed to related party \| $		$ 708	$ 120

- Definition

Amount for accounts payable to related parties.

+ References + Details

Related Party Transactions - MidMar (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	May 01, 2009	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Related Party Transaction
Natural gas revenue from related party		$ 1,043	$ 512	$ 1,726	$ 1,136
Affiliated Entity, MidMar
Related Party Transaction
Initial term of the additional shared services agreement	10 years
Agreement termination, written notice period	30 days
Natural gas revenue from related party		1,723	$ 618	2,818	$ 1,397
Amount owed from related party from the sale of gas, gas products and residue gas		$ 465		$ 465		$ 6
Affiliated Entity, MidMar \| MidMar Plant
Related Party Transaction
Percent of natural gas revenue from related party		87.00%		87.00%
Affiliated Entity, MidMar \| Chevron Headlee Plant
Related Party Transaction
Percent of natural gas revenue from related party		94.56%		94.56%

Related Party Transactions - Sand Supply (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Muskie [Member]
Related Party Transaction
Related party incurred costs	$ 0	$ 234

Related Party Transactions - Midland Lease (Details) - Affiliated Entity, Midland Lease - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	May 15, 2011	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Related Party Transaction
Term of lease from related party	5 years
Office rent to affiliate		$ 43	$ 40	$ 82	$ 72
Monthly rent				$ 13
Annual monthly rent increase		4.00%		4.00%
September [Member]
Related Party Transaction
Monthly rent				$ 15
October [Member]
Related Party Transaction
Monthly rent				$ 21

Related Party Transactions - Oklahoma City Lease (Details) - Affiliated Entity, Oklahoma City Lease - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 02, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Related Party Transaction
Term of lease from related party	67 months
Office rent to affiliate		$ 58	$ 82	$ 111	$ 206
Monthly base rent		$ 19		$ 19

Related Party Transactions - Advisory Services Agreement & Professional Services from Wexford (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Oct. 11, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Related Party Transaction
Advisory Services Agreement, Annual Fee	$ 500
Term of advisory services agreement	2 years
Affiliated Entity, Wexford
Related Party Transaction
Agreement termination, written notice period	30 days
Controlling Entity
Related Party Transaction
Related party incurred costs		$ 125	$ 57	$ 250	$ 94
Amount owed to related party		$ 0		$ 0		$ 113

- Definition

Amount for accounts payable to related parties.

+ References + Details

Related Party Transactions - Secondary Offering Costs (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 05, 2013	Jul. 05, 2013	Jun. 24, 2013
Common Stock [Member]
Related Party Transaction
Shares sold in secondary public offering			6,000,000
Subsequent Event [Member] \| Wexford and Gulfport Affiliates [Member]
Related Party Transaction
Related party incurred costs	$ 179
Subsequent Event [Member] \| Common Stock [Member]
Related Party Transaction
Shares sold by existing stockholders		869,222
Stock price per share, selling stockholders	$ 34.75

Derivatives - Open Derivative Positions (Details) - Crude Oil [Member] - Swap [Member] bbl in Thousands	Jun. 30, 2013 bbl $ / bbl
NYMEX West Texas Intermediate [Member] \| July–December 2013
Derivative [Line Items]
Volume (Bbls) \| bbl	184
Fixed Swap Price \| $ / bbl	80.55
Argus Louisiana Light Sweet [Member] \| July–December 2013
Derivative [Line Items]
Volume (Bbls) \| bbl	184
Fixed Swap Price \| $ / bbl	100.20
Argus Louisiana Light Sweet [Member] \| January - June 2014
Derivative [Line Items]
Volume (Bbls) \| bbl	181
Fixed Swap Price \| $ / bbl	100.20
ICE Brent [Member] \| July–December 2013
Derivative [Line Items]
Volume (Bbls) \| bbl	184
Fixed Swap Price \| $ / bbl	109.70
ICE Brent [Member] \| January–April 2014
Derivative [Line Items]
Volume (Bbls) \| bbl	120
Fixed Swap Price \| $ / bbl	109.70

Derivatives - Balance Sheet Location (Details) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Current Assets: Derivative instruments	$ 3,191	$ 0
Noncurrent Assets: Derivative instruments	0	0
Total Assets	3,191	0
Current Liabilities: Derivative instruments	2,679	4,817
Noncurrent Liabilities: Derivative instruments	0	388
Total Liabilities	$ 2,679	$ 5,205

- Definition

Fair values as of the balance sheet date of all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements.

+ References + Details

- Definition

Fair values as of the balance sheet date for all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments and which are expected to be converted into cash or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 15
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- Definition

Fair values as of the balance sheet date of all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments which are expected to exist longer than one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements.

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- Definition

Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements.

+ References + Details

- Definition

Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements.

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- Definition

Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements.

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+ Details

Derivatives - Offsetting Derivative Instruments (Details) - Swap [Member] - Crude Oil [Member] - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
ICE Brent [Member]
Offsetting Assets and Liabilities [Line Items]
Gross Amounts of Recognized Assets	$ 2,891
Gross Amounts Offset in the Consolidated Balance Sheet	0
Net Amounts of Assets Presented in the Consolidated Balance Sheet	2,891
Argus Louisiana Light Sweet [Member]
Offsetting Assets and Liabilities [Line Items]
Gross Amounts of Recognized Assets	300
Gross Amounts Offset in the Consolidated Balance Sheet	0
Net Amounts of Assets Presented in the Consolidated Balance Sheet	300
NYMEX West Texas Intermediate [Member]
Offsetting Assets and Liabilities [Line Items]
Gross Amounts of Recognized Liabilities	2,679	$ 5,205
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	$ 2,679	$ 5,205

Derivatives - Loss on Derivative Contracts Included in Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Unrealized gain on open non-hedge derivative instruments	$ 3,893	$ 12,065	$ 5,428	$ 8,638
Loss on settlement of non-hedge derivative instruments	(856)	(2,108)	(2,399)	(3,473)
Gain on derivative instruments	$ 3,037	$ 9,957	$ 3,029	$ 5,165

- 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

Fair Value Measurements - Recurring Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Assets:
Derivative Assets	$ 3,191	$ 0
Recurring [Member] \| Quoted Prices in Active Markets Level 1
Assets:
Derivative Assets	0
Liabilities:
Derivative liabilities	0	0
Recurring [Member] \| Significant Other Observable Inputs Level 2
Assets:
Derivative Assets	3,191
Liabilities:
Derivative liabilities	2,679	5,205
Recurring [Member] \| Significant Unobservable Inputs Level 3
Assets:
Derivative Assets	0
Liabilities:
Derivative liabilities	0	0
Recurring [Member] \| Total
Assets:
Derivative Assets	3,191
Liabilities:
Derivative liabilities	$ 2,679	$ 5,205

- Definition

+ References + Details

Fair Value Measurements - Nonrecurring Measurements (Details) - Nonrecurring - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Carrying Amount
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Note payable	$ 266	$ 338
Fair Value
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Note payable	$ 249	$ 305

Subsequent Events (Details) - Subsequent Event [Member] $ in Millions	Aug. 02, 2013 USD ($) a agreement
Subsequent Event [Line Items]
Number of definitive agreements \| agreement	2
Midland Basin [Member]
Subsequent Event [Line Items]
Acres purchased, gross	13,900
Acres purchased, net	11,150
Payments to acquire land \| $	$ 165