Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE (Tables)

v3.4.0.3
FAIR VALUE (Tables)
3 Months Ended
Mar. 31, 2016
Fair Value Disclosures [Abstract]  
Financial instruments measured at fair value on recurring basis
The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis:
 
Fair Value Measurements at March 31, 2016 Using
 
Quoted Prices In Active Markets
for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Commodity Derivatives – Current Asset (crude oil swaps)
$

 
$
42,628,541

 
$


 
Fair Value Measurements at December 31, 2015 Using
 
Quoted Prices In Active Markets
for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Commodity Derivatives – Current Asset (crude oil swaps)
$

 
$
64,611,558

 
$