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Commodity Derivative Instruments (Tables)
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6 Months Ended |
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Feb. 28, 2014
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| Commodity Derivative Instruments [Abstract] |
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| Schedule of Commodity Derivative Contracts |
| Collars | | Basis (1) | | Quantity (Bbl/month) | | Strike Price ($/Bbl) | | | Mar 1, 2014 - Dec 31, 2014 | | NYMEX | | | 1,840 | | | | $85.00 - $98.50 | | | Mar 1, 2014 - Dec 31, 2014 | | NYMEX | | | 20,000 | | | | $87.00 - $96.25 | | | | | | | | | | | | | | | Jan 1, 2015 - Jun 30, 2015 | | NYMEX | | | 7,000 | | | | $80.00 - $92.50 | | | Jan 1, 2015 - Jun 30, 2015 | | NYMEX | | | 2,500 | | | | $80.00 - $95.75 | | | Jul 1, 2015 - Dec 31, 2015 | | NYMEX | | | 9,000 | | | | $80.00 - $92.25 | | | | | | | | | | | | | | | Swaps | | Basis (1) | | Average Quantity (Bbl/month) | | Average Swap Price ($/Bbl) | | | Mar 1, 2014 - Dec 31, 2014 | | NYMEX | | | 22,240 | | | | $95.17 | | | | | (1) NYMEX refers to WTI quoted prices on the New York Mercantile Exchange |
| Schedule of Fair Value of Derivatives |
| | | | | As of February 28, 2014 | | | Underlying Commodity | | Balance Sheet Location | | Gross Amounts of Recognized Assets and Liabilities | | | Gross Amounts Offset in the Balance Sheet | | | Net Amounts of Assets and Liabilities Presented in the Balance Sheet | | | Crude oil derivative contract | | Current assets | | $ | 425 | | | $ | (425 | ) | | $ | - | | | Crude oil derivative contract | | Noncurrent assets | | $ | 348 | | | $ | (348 | ) | | $ | - | | | Crude oil derivative contract | | Current liabilities | | $ | 2,100 | | | $ | (425 | ) | | $ | 1,675 | | | Crude oil derivative contract | | Noncurrent liabilities | | $ | 491 | | | $ | (348 | ) | | $ | 143 | | | | | | | As of August 31, 2013 | | | Underlying Commodity | | Balance Sheet Location | | Gross Amounts of Recognized Assets and Liabilities | | | Gross Amounts Offset in the Balance Sheet | | | Net Amounts of Assets and Liabilities Presented in the Balance Sheet | | | Crude oil derivative contract | | Current assets | | $ | 28 | | | $ | (28 | ) | | $ | - | | | Crude oil derivative contract | | Noncurrent assets | | $ | 182 | | | $ | (182 | ) | | $ | - | | | Crude oil derivative contract | | Current liabilities | | $ | 2,343 | | | $ | (28 | ) | | $ | 2,315 | | | Crude oil derivative contract | | Noncurrent liabilities | | $ | 516 | | | $ | (182 | ) | | $ | 334 | | |
| Schedule of Gain (Loss) Recognized in Statements of Operations |
| | | Three Months Ended | | | Six Months Ended | | | | | February 28, | | | February 28, | | | February 28, | | | February 28, | | | | | 2014 | | | 2013 | | | 2014 | | | 2013 | | | Realized gain (loss) on commodity derivatives | | | (191 | ) | | | (20 | ) | | | (589 | ) | | | (20 | ) | | Unrealized gain (loss) on commodity derivatives | | $ | (1,805 | ) | | $ | (134 | ) | | $ | 831 | | | $ | (134 | ) | | Total gain (loss) | | $ | (1,996 | ) | | $ | (154 | ) | | $ | 242 | | | $ | (154 | ) | |