Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Details)

v3.3.0.814
SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
May. 18, 2015
Dec. 31, 2014
May. 13, 2013
Cash and Cash Equivalents [Abstract]              
Threshold amount of FDIC coverage $ 250,000   $ 250,000        
Accounts Receivable [Abstract]              
Allowance for doubtful accounts 4,500,000   $ 4,500,000     $ 1,800,000  
Advance to Operators [Abstract]              
Period for advance payments to be applied against joint interest billings     90 days        
Property, Plant and Equipment [Line Items]              
Depreciation expense 74,469 $ 78,414 $ 229,694 $ 238,168      
Full Cost Method [Abstract]              
Capitalized Certain Payroll and Other Internal Costs 520,046 842,641 1,500,734 1,839,206      
Capitalized Interest Costs 311,739 1,137,655 1,270,420 3,476,446      
Total 831,785 1,980,296 $ 2,771,154 5,315,652      
Minimum percentage of proved reserves sold to be considered a significant alteration     25.00%        
Impairment of Oil and Natural Gas Properties 354,422,654 0 $ 996,815,713 0      
Capitalized costs related to expired leases subject to depletion 6,400,000 7,800,000 $ 15,300,000 20,000,000      
Discount rate     10.00%        
Debt Issuance Costs [Abstract]              
Amortization of debt issuance costs $ 1,000,000 $ 700,000 $ 2,674,927 $ 2,053,879      
Bond Premium/Discount on Senior Notes [Abstract]              
Rate of Senior notes 8.00% 8.00% 8.00% 8.00%   8.00%  
Amortization of bond premium $ 400,000 $ 400,000 $ 1,100,000 $ 1,100,000      
Amortization of bond discount 500,000 $ 0 700,000 $ 0      
Restructuring Costs [Abstract]              
Restructuring costs 523,487   523,487        
Income Taxes [Abstract]              
Valuation allowance $ 170,043,000   $ 170,043,000     $ 0  
Net Income Per Common Share [Abstract]              
Weighted Average Common Shares Outstanding - Basic (in shares) 60,679,257 60,559,827 60,627,142 60,753,752      
Plus: Potentially Dilutive Common Shares Including Stock Options and Restricted Stock (in shares) 0 176,675 0 196,889      
Weighted Average Common Shares Outstanding - Diluted (in shares) 60,679,257 60,736,502 60,627,142 60,950,641      
Restricted Stock Excluded From EPS Due To The Anti-Dilutive Effect (in shares) 150,428 5,064 173,763 6,346      
Minimum [Member]              
Property, Plant and Equipment [Line Items]              
Property and equipment, estimated useful lives     3 years        
Maximum [Member]              
Property, Plant and Equipment [Line Items]              
Property and equipment, estimated useful lives     7 years        
2013 Equity Incentive Plan [Member]              
Restructuring Costs [Abstract]              
Non cash expense related to acceleration of equity awards $ 100,000   $ 100,000        
Senior Unsecured Notes [Member]              
Bond Premium/Discount on Senior Notes [Abstract]              
Capitalized costs in connection with debt         $ 10,000,000   $ 10,500,000
Rate of Senior notes         8.00%   8.00%