v2.4.0.8
Document Entity Information Document
6 Months Ended
Jun. 30, 2013
Entity Information  
Entity Registrant Name ROCKIES REGION 2007 LP
Entity Central Index Key 0001407805
Current Fiscal Year End Date --12-31
Entity Filer Category Smaller Reporting Company
Document Type 10-Q
Document Period End Date Jun. 30, 2013
Document Fiscal Year Focus 2013
Document Fiscal Period Focus Q2
Amendment Flag false
Entity Common Stock, Shares Outstanding 0.00
Additional General Partnership Units Outstanding 0
v2.4.0.8
Condensed Balance Sheets (Unaudited) Statement (USD $)
Jun. 30, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 14,402,278 $ 570,376
Accounts receivable 628,545 865,944
Crude oil inventory 41,152 42,939
Due from Managing General Partner-derivatives 0 4,409,574
Due from Managing General Partner-other, net 657,340 800,598
Total current assets 15,729,315 6,689,431
Crude oil and natural gas properties, successful efforts method, at cost 55,758,995 79,601,649
Less: Accumulated depreciation, depletion and amortization (30,374,901) (38,868,788)
Crude oil and natural gas properties, net 25,384,094 40,732,861
Other assets 69,038 46,711
Total Assets 41,182,447 47,469,003
Current liabilities:    
Accounts payable and accrued expenses 558,220 90,570
Due to Managing General Partner-derivatives 0 2,004,594
Total current liabilities 558,220 2,095,164
Asset retirement obligations 901,016 1,110,093
Total liabilities 1,459,236 3,205,257
Commitments and contingent liabilities      
Partners' equity:    
Managing General Partner 9,503,622 11,183,638
Limited Partners - 4,470 units issued and outstanding 30,219,589 33,080,108
Total Partners' equity 39,723,211 44,263,746
Total Liabilities and Partners' Equity $ 41,182,447 $ 47,469,003
v2.4.0.8
Balance Sheet Parentheticals (Parentheticals)
Jun. 30, 2013
Dec. 31, 2012
Balance Sheet Parentheticals [Abstract]    
Limited Partners' Capital Account, Units Issued 4,470.00 4,470.00
Limited Partners' Capital Account, Units Outstanding 4,470.00 4,470.00
v2.4.0.8
Condensed Statements of Operations (Unaudited) Statement (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues:        
Crude oil, natural gas and NGLs $ 1,368,588 $ 998,725 $ 3,035,929 $ 2,477,534
Commodity price risk management gain (loss), net 69,520 (417,354) (417,689) 1,103,976
Total revenues 1,438,108 581,371 2,618,240 3,581,510
Operating costs and expenses:        
Crude oil, natural gas and NGLs production costs 340,408 348,155 648,908 711,013
Direct costs - general and administrative 42,093 43,331 86,742 82,115
Depreciation, depletion and amortization 774,788 691,453 1,676,700 1,579,289
Accretion of asset retirement obligations 16,897 15,634 33,470 30,970
Total operating costs and expenses 1,174,186 1,098,573 2,445,820 2,403,387
Income (loss) from operations:        
Income (loss) from continuing operations 263,922 (517,202) 172,420 1,178,123
Loss from discontinued operations (253,838) (422,500) (33,370) (673,685)
Net income (loss) 10,084 (939,702) 139,050 504,438
Net income (loss) per Investor Partner Unit:        
Continuing operations $ 37 $ (73) $ 24 $ 166
Discontinued operations $ (36) $ (59) $ (4) $ (95)
Net income (loss) per Investor Partner unit $ 1 $ (132) $ 20 $ 71
Investor Partner units outstanding 4,470.00 4,470 4,470.00 4,470
Managing General Partner
       
Income (loss) from operations:        
Income (loss) from continuing operations 97,651 (191,365) 63,795 435,906
Loss from discontinued operations (93,920) (156,325) (12,347) (249,263)
Investor Partners
       
Income (loss) from operations:        
Income (loss) from continuing operations 166,271 (325,837) 108,625 742,217
Loss from discontinued operations $ (159,918) $ (266,175) $ (21,023) $ (424,422)
v2.4.0.8
Condensed Statements of Cash Flows (Unaudited) Statement (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net income $ 139,050 $ 504,438
Adjustments to net income to reconcile to net cash from operating activities:    
Depreciation, depletion and amortization 1,831,910 2,475,889
Accretion of asset retirement obligations 40,347 38,709
Change in unrealized loss on derivative transactions 1,693,233 877,238
Loss on sale of crude oil and natural gas properties 491,059 0
Changes in assets and liabilities:    
Accounts receivable 237,399 292,550
Crude oil inventory (3,127) 7,989
Other assets (22,327) (19,134)
Accounts payable and accrued expenses 3,999 (36,916)
Due from Managing General Partner-other, net 268,043 100,320
Net cash from operating activities 4,679,586 4,241,083
Cash flows from investing activities:    
Capital expenditures for crude oil and natural gas properties 0 (361,858)
Proceeds from Sale of crude oil and natural gas properties 13,831,901 0
Net cash from investing activities 13,831,901 (361,858)
Cash flows from financing activities:    
Distributions to Partners (4,679,585) (2,939,226)
Net cash from financing activities (4,679,585) (2,939,226)
Net change in cash and cash equivalents 13,831,902 939,999
Cash and cash equivalents, beginning of period 570,376 2,690,377
Cash and cash equivalents, end of period 14,402,278 3,630,376
Supplemental disclosure of non-cash activity:    
Change in accounts payable related to asset disposal (463,651) 0
Change in accounts receivable due to asset disposal $ 124,785 $ 0
v2.4.0.8
General and Basis of Presentation
6 Months Ended
Jun. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
General and Basis of Presentation

Rockies Region 2007 Limited Partnership (“Partnership” or the “Registrant”) was organized in 2007 as a limited partnership, in accordance with the laws of the State of West Virginia, for the purpose of engaging in the exploration and development of crude oil and natural gas properties. Business operations commenced upon closing of an offering for the private placement of Partnership units. Upon funding, this Partnership entered into a Drilling and Operating Agreement (“D&O Agreement”) with the Managing General Partner which authorizes PDC Energy, Inc. (“PDC”) to conduct and manage this Partnership's business. In accordance with the terms of the Limited Partnership Agreement (the “Agreement”), the Managing General Partner is authorized to manage all activities of this Partnership and initiates and completes substantially all Partnership transactions.

As of June 30, 2013, there were 1,790 limited partners in this Partnership (the “Investor Partners”). PDC is the designated Managing General Partner of this Partnership and owns a 37% Managing General Partner ownership in this Partnership. According to the terms of the Agreement, revenues, costs and cash distributions of this Partnership are allocated 63% to the Investor Partners, which are shared pro rata based upon the number of units in this Partnership, and 37% to the Managing General Partner. The Managing General Partner may repurchase Investor Partner units under certain circumstances provided by the Agreement, upon request of an individual Investor Partner. Through June 30, 2013, the Managing General Partner had repurchased 34.8 units of Partnership interest from the Investor Partners at an average price of $4,131 per unit. As of June 30, 2013, the Managing General Partner owned 37.5% of this Partnership.

In the Managing General Partner's opinion, the accompanying unaudited condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of this Partnership's results for interim periods in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Accordingly, pursuant to such rules and regulations, certain notes and other financial information included in the audited financial statements have been condensed or omitted. The information presented in this Quarterly Report on Form 10-Q should be read in conjunction with this Partnership's audited financial statements and notes thereto included in this Partnership's 2012 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2012 Form 10-K and updated, as necessary, in this Quarterly Report on Form 10-Q. The results of operations and cash flows for the three and six months ended June 30, 2013 are not necessarily indicative of the results to be expected for the full year or any other future period.

Certain reclassifications have been made to prior period financial statements to conform to the current year presentation. The reclassifications are mainly attributable to reporting as discontinued operations the results of operations related to the sale of this Partnership's Piceance Basin assets. See Note 8, Divestitures and Discontinued Operations, for additional information regarding the divestiture. The reclassifications had no impact on previously reported cash flows, net income or Partners’ equity.
v2.4.0.8
Recent Accounting Standards
6 Months Ended
Jun. 30, 2013
New Accounting Pronouncement or Change in Accounting Principle, Current Period Disclosures [Abstract]  
Description of New Accounting Pronouncements Adopted [Text Block]
Summary of Significant Accounting Policies

Recently Adopted Accounting Standard

On January 1, 2013, this Partnership adopted changes issued by the Financial Accounting Standards Board regarding the disclosure of offsetting assets and liabilities. These changes require an entity to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an enforceable master netting arrangement or similar agreement. The enhanced disclosures enable users of an entity’s financial statements to understand and evaluate the effect or potential effect of master netting arrangements on an entity’s financial position, including the effect or potential effect of rights of setoff associated with certain financial instruments and derivative instruments. This Partnership's adoption of these changes had no impact on the unaudited condensed financial statements.
v2.4.0.8
Transactions with Managing General Partner
6 Months Ended
Jun. 30, 2013
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
Transactions with Managing General Partner

The Managing General Partner transacts business on behalf of this Partnership under the authority of the D&O Agreement. Revenues and other cash inflows received by the Managing General Partner on behalf of this Partnership are distributed to the Partners net of corresponding operating costs and other cash outflows incurred on behalf of this Partnership. The fair value of this Partnership's portion of open derivative instruments were recorded on the condensed balance sheets under the captions “Due from Managing General Partner-derivatives” in the case of net unrealized gains and “Due to Managing General Partner-derivatives” in the case of net unrealized losses.

The following table presents transactions with the Managing General Partner reflected in the condensed balance sheet line item “Due from Managing General Partner-other, net” which remain undistributed or unsettled with this Partnership's investors as of the dates indicated:

    
 
June 30, 2013
 
December 31, 2012
Crude oil, natural gas and NGLs sales revenues
collected from this Partnership's third-party customers
$
883,219

 
$
871,548

Commodity price risk management, realized gain
293,049

 
356,531

Other (1)
(518,928
)
 
(427,481
)
Total Due from Managing General Partner-other, net
$
657,340

 
$
800,598


(1)
All other unsettled transactions, excluding derivative instruments, between this Partnership and the Managing General Partner. The majority of these are operating costs and general and administrative costs which have not been deducted from distributions.

The following table presents Partnership transactions, excluding derivative transactions which are more fully detailed in Note 5, Derivative Financial Instruments, with the Managing General Partner for the three and six months ended June 30, 2013 and 2012. “Well operations and maintenance” and “Gathering, compression and processing fees” are included in the “Crude oil, natural gas and NGLs production costs” line item on the condensed statements of operations for continuing operations or in Note 8, Divestitures and Discontinued Operations, for discontinued operations.    
 
 Three months ended June 30,
 
Six months ended June 30,
 
2013
 
2012
 
2013
 
2012
 Well operations and maintenance
$
463,931

 
$
690,773

 
$
1,008,643

 
$
1,231,347

 Gathering, compression and processing fees
56,575

 
116,200

 
122,824

 
201,363

 Direct costs - general and administrative
368,144

 
43,331

 
412,793

 
82,115

 Refracturing and recompletion costs

 
360,239

 

 
360,239

 Cash distributions (1)
876,854

 
562,135

 
1,751,281

 
1,089,933


(1)
Cash distributions include $10,425 and $19,816 during the three and six months ended June 30, 2013, respectively, and $1,266 and $2,420 during the three and six months ended June 30, 2012, respectively, related to equity cash distributions for Investor Partner units repurchased by PDC.
v2.4.0.8
Fair Value Measurements and Disclosures
6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]
Fair Value of Financial Instruments

Determination of fair value. This Partnership's fair value measurements are estimated pursuant to a fair value hierarchy that requires this Partnership to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date, giving the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. In these cases, the lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability, and may affect the valuation of the assets and liabilities and their placement within the fair value hierarchy levels. The three levels of inputs that may be used to measure fair value are defined as:

Level 1 - Quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived from observable market data by correlation or other means.

Level 3 - Unobservable inputs for the asset or liability, including situations where there is little, if any, market activity.

The Managing General Partner measures the fair value of this Partnership's derivative instruments based on a pricing model that utilizes market-based inputs, including, but not limited to, the contractual price of the underlying position, current market prices, natural gas forward curve, discount rates such as the LIBOR curve for a similar duration of each outstanding position, volatility factors and nonperformance risk. Nonperformance risk considers the effect of the Managing General Partner's credit standing on the fair value of derivative liabilities and the effect of the Managing General Partner's counterparties' credit standings on the fair value of derivative assets. Both inputs to the model are based on published credit default swap rates and the duration of each outstanding derivative position.

The Managing General Partner validates its fair value measurement through the review of counterparty statements and other supporting documentation, the determination that the source of the inputs is valid, the corroboration of the original source of inputs through access to multiple quotes, if available, or other information and monitoring changes in valuation methods and assumptions. While the Managing General Partner uses common industry practices to develop its valuation techniques, changes in the Managing General Partner's pricing methodologies or the underlying assumptions could result in significantly different fair values. While the Managing General Partner believes its valuation method is appropriate and consistent with those used by other market participants, the use of a different methodology or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value.

This Partnership's fixed-price swaps and basis swaps as of December 31, 2012 were included in Level 2. The following table presents this Partnership's derivative assets and liabilities that had been measured at fair value on a recurring basis:
 
Balance Sheet
 
 
 
Line Item
 
 Level 2
 
 
 
 
Assets:
 
 
 
Current
 
 
 
Commodity-based derivatives
Due from Managing General Partner-derivatives
 
$
4,409,574

 Total assets
 
 
4,409,574

 
 
 
 
Liabilities:
 
 
 
Current
 
 
 
Basis protection derivative contracts
Due to Managing General Partner-derivatives
 
2,004,594

 Total liabilities
 
 
2,004,594

 Net asset
 
 
$
2,404,980

Derivative instruments that were due to mature subsequent to June 30, 2013 were liquidated during the quarter ended June 30, 2013. Accordingly, as of June 30, 2013, this Partnership did not have any derivative instruments in place for its future production.
    
Non-Derivative Financial Assets and Liabilities

The carrying values of the financial instruments included in current assets and current liabilities approximate fair value due to the short-term maturities of these instruments.
v2.4.0.8
Derivative Financial Instruments
6 Months Ended
Jun. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments Disclosure [Text Block]
Derivative Financial Instruments


The following tables present the impact of this Partnership's derivative instruments on this Partnership's accompanying condensed statements of operations:
 
 
 Three months ended June 30,
 
 
2013
 
2012
Statement of operations line item:
 
Reclassification of Realized Gains (Losses) included in Prior Periods Unrealized
 
Realized Gains for the Current Period
 
Total
 
Reclassification of Realized Gains (Losses) included in Prior Periods Unrealized
 
Realized and Unrealized Losses for the Current Period
 
Total
Commodity price risk management gain (loss), net
 
 
 
 
 
 
 
 
 
 
 
 
Realized gains (losses)
 
$
561,768

 
$
69,520

 
$
631,288

 
$
1,120,484

 
$
(17,336
)
 
$
1,103,148

Unrealized losses
 
(561,768
)
 

 
(561,768
)
 
(1,120,484
)
 
(400,018
)
 
(1,520,502
)
Total
$

 
$
69,520

 
$
69,520

 
$

 
$
(417,354
)
 
$
(417,354
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30,
 
 
2013
 
2012
Statement of operations line item:
 
Reclassification of Realized Gains (Losses) included in Prior Periods Unrealized
 
Realized Losses for the Current Period
 
Total
 
Reclassification of Realized Gains (Losses) included in Prior Periods Unrealized
 
Realized and Unrealized Gains for the Current Period
 
Total
Commodity price risk management gain, net
 
 
 
 
 
 
 
 
 
 
 
 
Realized gains (losses)
 
$
1,693,233

 
$
(417,689
)
 
$
1,275,544

 
$
1,562,032

 
$
419,182

 
$
1,981,214

Unrealized gains (losses)
 
(1,693,233
)
 

 
(1,693,233
)
 
(1,562,032
)
 
684,794

 
(877,238
)
Total
$

 
$
(417,689
)
 
$
(417,689
)
 
$

 
$
1,103,976

 
$
1,103,976

v2.4.0.8
Commitments and Contingencies
6 Months Ended
Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]
Commitments and Contingencies

Legal Proceedings

Neither this Partnership nor PDC, in its capacity as the Managing General Partner of this Partnership, are party to any pending legal proceeding that PDC believes would have a materially adverse effect on this Partnership's business, financial condition, results of operations or liquidity.

Environmental

Due to the nature of the oil and gas industry, this Partnership is exposed to environmental risks. The Managing General Partner has various policies and procedures in place to prevent environmental contamination and mitigate the risks from environmental contamination. The Managing General Partner conducts periodic reviews to identify changes in this Partnership's environmental risk profile. Liabilities are accrued when environmental remediation efforts are probable and the costs can be reasonably estimated. These liabilities are reduced as remediation efforts are completed or are adjusted as a consequence of subsequent periodic reviews. Liabilities for environmental remediation efforts are included in line item captioned “Accounts payable and accrued expenses” on the condensed balance sheet.

During the six months ended June 30, 2013, as a result of the Managing General Partner's periodic review, no new environmental remediation liabilities were identified and this Partnership's expense for environmental remediation efforts was not significant. This Partnership's environmental remediation liabilities were insignificant as of June 30, 2013 and December 31, 2012, respectively.

The Managing General Partner is not currently aware of any environmental claims existing as of June 30, 2013 which have not been provided for or would otherwise have a material impact on this Partnership's condensed financial statements; however, there can be no assurance that current regulatory requirements will not change or unknown past non-compliance with environmental laws will not be discovered on this Partnership's properties.

Royalty Matters

During the three months ended June 30, 2013, this Partnership recognized charges totaling approximately $326,000 related to royalty payment disputes with interest owners in the Piceance Basin. These charges were included in Direct costs - general and administrative expenses within discontinued operations. The settlement charges were allocated to this Partnership based upon historical revenue amounts. The settlement amount of approximately $304,000 was paid by the Managing General Partner as of June 30, 2013, and is included as a liability in the Due from Managing General Partner-other, net on the balance sheet. The remaining $22,000 is included in Accounts payable and accrued expenses on the balance sheet and represents the Managing General Partner's best estimate relating to the remaining pending dispute regarding various royalty payment issues.
v2.4.0.8
Asset Retirement Obligations Asset Retirement Obligations (Notes)
6 Months Ended
Jun. 30, 2013
ASSET RETIREMENT OBLIGATIONS [Abstract]  
Asset Retirement Obligation Disclosure [Text Block]
Asset Retirement Obligations

The following table presents the changes in carrying amounts of the asset retirement obligations associated with this Partnership's working interest in crude oil and natural gas properties:

 
Amount
 
 
Balance at December 31, 2012
$
1,110,093

Accretion expense
40,347

Obligations discharged with disposal of properties
(249,424
)
Balance at June 30, 2013
$
901,016

 
 
v2.4.0.8
Assets Held for Sales, Divestitures and Discontinued Operations
6 Months Ended
Jun. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
Divestitures and Discontinued Operations

Piceance Basin. In February 2013, this Partnership's Managing General Partner entered into a purchase and sale agreement ("PSA") with certain affiliates of Caerus Oil and Gas LLC (“Caerus”), pursuant to which this Partnership agreed to sell to Caerus all of its Piceance Basin assets and certain derivatives. Under the same PSA, PDC agreed to sell to Caerus the Piceance Basin assets of PDC and certain other PDC-sponsored partnerships and certain other non-core Colorado oil and gas properties, leasehold mineral interests and related assets. In June 2013, this divestiture was completed with total consideration for this Partnership of approximately $13.8 million, subject to customary post-closing adjustments. The sale resulted in a loss on divestiture of assets of approximately $0.5 million. The Managing General Partner used the proceeds from the asset divestiture for distributions to Partners in July 2013. See Note 9, Subsequent Events, for additional information regarding the use of proceeds received from the Piceance Basin asset sale.

Following the sale, this Partnership does not have a significant continuing involvement in the operations of, or cash flows from, the Piceance Basin oil and gas properties. Accordingly, the results of operations related to these assets have been separately reported as discontinued operations in the unaudited condensed statement of operations for all periods presented.

The following table presents statement of operations data related to this Partnership's discontinued operations for the Piceance Basin divestiture:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
Statement of Operations - Discontinued Operations
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
Crude oil, natural gas and NGLs sales
 
$
865,054

 
$
395,169

 
$
1,692,474

 
$
983,290

 
 
 
 
 
 
 
 
 
Operating costs and expenses:
 
 
 
 
 
 
 
 
Crude oil, natural gas and NGLs production costs
 
299,008

 
376,970

 
746,647

 
752,636

Depreciation, depletion and amortization
 

 
436,797

 
155,210

 
896,600

Direct costs - general and administrative expense
 
326,051

 

 
326,051

 

Accretion of asset retirement obligations
 
2,774

 
3,902

 
6,877

 
7,739

Loss on sale of crude oil and natural gas properties
 
491,059

 

 
491,059

 

Total operating costs and expenses
 
1,118,892

 
817,669

 
1,725,844

 
1,656,975

 
 
 
 
 
 
 
 
 
Loss from discontinued operations
 
$
(253,838
)
 
$
(422,500
)
 
$
(33,370
)
 
$
(673,685
)
 
 
 
 
 
 

 

While the reclassification of revenues and expenses related to discontinued operations for the prior period had no impact upon previously reported net earnings, the statement of operations table presents the revenues and expenses that were reclassified from the specified statement of operations line items to discontinued operations.
v2.4.0.8
Subsequent Events (Notes)
6 Months Ended
Jun. 30, 2013
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
Subsequent Events

In July 2013, this Partnership distributed proceeds received for the Piceance Basin asset divestiture of $13.8 million to the Partners as follows:
 
Amount
 
(millions)
 
 
Managing General Partner
$
5.1

Investor Partners
8.7

Total
$
13.8

 
 
v2.4.0.8
Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Accounting, Policy [Policy Text Block]
In the Managing General Partner's opinion, the accompanying unaudited condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of this Partnership's results for interim periods in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Accordingly, pursuant to such rules and regulations, certain notes and other financial information included in the audited financial statements have been condensed or omitted. The information presented in this Quarterly Report on Form 10-Q should be read in conjunction with this Partnership's audited financial statements and notes thereto included in this Partnership's 2012 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2012 Form 10-K and updated, as necessary, in this Quarterly Report on Form 10-Q. The results of operations and cash flows for the three and six months ended June 30, 2013 are not necessarily indicative of the results to be expected for the full year or any other future period.
v2.4.0.8
Transactions with Managing General Partner Transactions with Managing General Partner (Tables)
6 Months Ended
Jun. 30, 2013
Related Party Transactions [Abstract]  
Due from (to) Managing General Partner-other, net [Table Text Block]
The following table presents transactions with the Managing General Partner reflected in the condensed balance sheet line item “Due from Managing General Partner-other, net” which remain undistributed or unsettled with this Partnership's investors as of the dates indicated:

    
 
June 30, 2013
 
December 31, 2012
Crude oil, natural gas and NGLs sales revenues
collected from this Partnership's third-party customers
$
883,219

 
$
871,548

Commodity price risk management, realized gain
293,049

 
356,531

Other (1)
(518,928
)
 
(427,481
)
Total Due from Managing General Partner-other, net
$
657,340

 
$
800,598


(1)
All other unsettled transactions, excluding derivative instruments, between this Partnership and the Managing General Partner. The majority of these are operating costs and general and administrative costs which have not been deducted from distributions.
Schedule of Related Party Transactions [Table Text Block]
The following table presents Partnership transactions, excluding derivative transactions which are more fully detailed in Note 5, Derivative Financial Instruments, with the Managing General Partner for the three and six months ended June 30, 2013 and 2012. “Well operations and maintenance” and “Gathering, compression and processing fees” are included in the “Crude oil, natural gas and NGLs production costs” line item on the condensed statements of operations for continuing operations or in Note 8, Divestitures and Discontinued Operations, for discontinued operations.    
 
 Three months ended June 30,
 
Six months ended June 30,
 
2013
 
2012
 
2013
 
2012
 Well operations and maintenance
$
463,931

 
$
690,773

 
$
1,008,643

 
$
1,231,347

 Gathering, compression and processing fees
56,575

 
116,200

 
122,824

 
201,363

 Direct costs - general and administrative
368,144

 
43,331

 
412,793

 
82,115

 Refracturing and recompletion costs

 
360,239

 

 
360,239

 Cash distributions (1)
876,854

 
562,135

 
1,751,281

 
1,089,933


(1)
Cash distributions include $10,425 and $19,816 during the three and six months ended June 30, 2013, respectively, and $1,266 and $2,420 during the three and six months ended June 30, 2012, respectively, related to equity cash distributions for Investor Partner units repurchased by PDC.
v2.4.0.8
Fair Value Measurements and Disclosures Fair Value Measurements and Disclosures (Tables)
6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents this Partnership's derivative assets and liabilities that had been measured at fair value on a recurring basis:
 
Balance Sheet
 
 
 
Line Item
 
 Level 2
 
 
 
 
Assets:
 
 
 
Current
 
 
 
Commodity-based derivatives
Due from Managing General Partner-derivatives
 
$
4,409,574

 Total assets
 
 
4,409,574

 
 
 
 
Liabilities:
 
 
 
Current
 
 
 
Basis protection derivative contracts
Due to Managing General Partner-derivatives
 
2,004,594

 Total liabilities
 
 
2,004,594

 Net asset
 
 
$
2,404,980

v2.4.0.8
Derivative Financial Instruments Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following tables present the impact of this Partnership's derivative instruments on this Partnership's accompanying condensed statements of operations:
 
 
 Three months ended June 30,
 
 
2013
 
2012
Statement of operations line item:
 
Reclassification of Realized Gains (Losses) included in Prior Periods Unrealized
 
Realized Gains for the Current Period
 
Total
 
Reclassification of Realized Gains (Losses) included in Prior Periods Unrealized
 
Realized and Unrealized Losses for the Current Period
 
Total
Commodity price risk management gain (loss), net
 
 
 
 
 
 
 
 
 
 
 
 
Realized gains (losses)
 
$
561,768

 
$
69,520

 
$
631,288

 
$
1,120,484

 
$
(17,336
)
 
$
1,103,148

Unrealized losses
 
(561,768
)
 

 
(561,768
)
 
(1,120,484
)
 
(400,018
)
 
(1,520,502
)
Total
$

 
$
69,520

 
$
69,520

 
$

 
$
(417,354
)
 
$
(417,354
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30,
 
 
2013
 
2012
Statement of operations line item:
 
Reclassification of Realized Gains (Losses) included in Prior Periods Unrealized
 
Realized Losses for the Current Period
 
Total
 
Reclassification of Realized Gains (Losses) included in Prior Periods Unrealized
 
Realized and Unrealized Gains for the Current Period
 
Total
Commodity price risk management gain, net
 
 
 
 
 
 
 
 
 
 
 
 
Realized gains (losses)
 
$
1,693,233

 
$
(417,689
)
 
$
1,275,544

 
$
1,562,032

 
$
419,182

 
$
1,981,214

Unrealized gains (losses)
 
(1,693,233
)
 

 
(1,693,233
)
 
(1,562,032
)
 
684,794

 
(877,238
)
Total
$

 
$
(417,689
)
 
$
(417,689
)
 
$

 
$
1,103,976

 
$
1,103,976

v2.4.0.8
Asset Retirement Obligations Asset Retirement Obligations (Tables)
6 Months Ended
Jun. 30, 2013
ASSET RETIREMENT OBLIGATIONS [Abstract]  
Schedule of Change in Asset Retirement Obligation [Table Text Block]
Asset Retirement Obligations

The following table presents the changes in carrying amounts of the asset retirement obligations associated with this Partnership's working interest in crude oil and natural gas properties:

 
Amount
 
 
Balance at December 31, 2012
$
1,110,093

Accretion expense
40,347

Obligations discharged with disposal of properties
(249,424
)
Balance at June 30, 2013
$
901,016

 
 
v2.4.0.8
Assets Held for Sales, Divestitures and Discontinued Operations Assets Held for Sale, Divestitures and Discontinued Operations (Tables)
6 Months Ended
Jun. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]
The following table presents statement of operations data related to this Partnership's discontinued operations for the Piceance Basin divestiture:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
Statement of Operations - Discontinued Operations
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
Crude oil, natural gas and NGLs sales
 
$
865,054

 
$
395,169

 
$
1,692,474

 
$
983,290

 
 
 
 
 
 
 
 
 
Operating costs and expenses:
 
 
 
 
 
 
 
 
Crude oil, natural gas and NGLs production costs
 
299,008

 
376,970

 
746,647

 
752,636

Depreciation, depletion and amortization
 

 
436,797

 
155,210

 
896,600

Direct costs - general and administrative expense
 
326,051

 

 
326,051

 

Accretion of asset retirement obligations
 
2,774

 
3,902

 
6,877

 
7,739

Loss on sale of crude oil and natural gas properties
 
491,059

 

 
491,059

 

Total operating costs and expenses
 
1,118,892

 
817,669

 
1,725,844

 
1,656,975

 
 
 
 
 
 
 
 
 
Loss from discontinued operations
 
$
(253,838
)
 
$
(422,500
)
 
$
(33,370
)
 
$
(673,685
)
 
 
 
 
 
 

 

While the reclassification of revenues and expenses related to discontinued operations for the prior period had no impact upon previously reported net earnings, the statement of operations table presents the revenues and expenses that were reclassified from the specified statement of operations line items to discontinued operations.
v2.4.0.8
Subsequent Events (Tables)
6 Months Ended
Jun. 30, 2013
Subsequent Events [Abstract]  
Schedule of Subsequent Events [Table Text Block]
In July 2013, this Partnership distributed proceeds received for the Piceance Basin asset divestiture of $13.8 million to the Partners as follows:
 
Amount
 
(millions)
 
 
Managing General Partner
$
5.1

Investor Partners
8.7

Total
$
13.8

 
 
v2.4.0.8
General and Basis of Presentation General and Basis of Presentation (Details) (USD $)
6 Months Ended
Jun. 30, 2013
Number_of_Limited_Partners
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of Investor Partners 1,790
Managing General Partner, Ownership Interest Before Unit Repurchases 37.00%
Investor Partner Ownership Interest 63.00%
Limited Partner Units Repurchased by Managing General Partner 34.8
Average Price Paid for Units Repurchased by Managing General Partner $ 4,131
Managing General Partner Ownership Interest 37.50%
v2.4.0.8
Transactions with Managing General Partner Undistributed or Unsettled Transactions With Investor Partners (Details) (USD $)
Jun. 30, 2013
Dec. 31, 2012
Related Party Transaction    
Due from (to) Managing General Partner-other, net $ 657,340 $ 800,598
Crude oil, natural gas and NGLs sales revenues collected from the Partnership's third-party customers
   
Related Party Transaction    
Due from (to) Managing General Partner-other, net 883,219 871,548
Commodity price risk management, realized gain
   
Related Party Transaction    
Due from (to) Managing General Partner-other, net 293,049 356,531
Other
   
Related Party Transaction    
Due from (to) Managing General Partner-other, net $ (518,928) [1] $ (427,481) [1]
[1] All other unsettled transactions, excluding derivative instruments, between this Partnership and the Managing General Partner. The majority of these are operating costs and general and administrative costs which have not been deducted from distributions.
v2.4.0.8
Transactions with Managing General Partner Related Party Transactions (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Related Party Transaction        
Direct costs - general and administrative $ 42,093 $ 43,331 $ 86,742 $ 82,115
Transactions with Managing General Partner
       
Related Party Transaction        
Well operations and maintenance 463,931 690,773 1,008,643 1,231,347
Gathering, compression and processing fees 56,575 116,200 122,824 201,363
Direct costs - general and administrative 368,144 43,331 412,793 82,115
Refracturing and recompletion costs 0 360,239 0 360,239
Cash distributions 876,854 [1] 562,135 [1] 1,751,281 [1] 1,089,933 [1]
Distribution Made to Limited Partner, Cash Distributions Paid $ 10,425 $ 1,266 $ 19,816 $ 2,420
[1] Cash distributions include $10,425 and $19,816 during the three and six months ended June 30, 2013, respectively, and $1,266 and $2,420 during the three and six months ended June 30, 2012, respectively, related to equity cash distributions for Investor Partner units repurchased by PDC.
v2.4.0.8
Fair Value Measurements and Disclosures Fair Value Measurements and Disclosures (Details) (USD $)
Jun. 30, 2013
Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Due from Managing General Partner-derivatives $ 0 $ 4,409,574
Due to Managing General Partner-derivatives 0 2,004,594
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, Fair Value Disclosure   4,409,574
Liabilities, Fair Value Disclosure   2,004,594
Net Asset Fair Value   2,404,980
Commodity Contracts Related to Natural Gas and Crude Oil Sales [Member] | Current Assets [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Due from Managing General Partner-derivatives   4,409,574
Basis Protection Contracts Related to Natural Gas and Crude Oil Sales [Member] | Current Liabilities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Due to Managing General Partner-derivatives   $ 2,004,594
v2.4.0.8
Derivative Financial Instruments Derivative Financial Instruments (Details) (Commodity Price Risk Management, net, USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Derivative Financial Instruments        
Realized Gains (Losses) $ 631,288 $ 1,103,148 $ 1,275,544 $ 1,981,214
Unrealized gains (losses) (561,768) (1,520,502) (1,693,233) (877,238)
Total 69,520 (417,354) (417,689) 1,103,976
Reclassification of Realized Gains (Losses) Included in Prior Periods Unrealized
       
Derivative Financial Instruments        
Realized Gains (Losses) 561,768 1,120,484 1,693,233 1,562,032
Unrealized gains (losses) (561,768) (1,120,484) (1,693,233) (1,562,032)
Total 0 0 0 0
Realized and Unrealized Gains (Losses) for the Current Period
       
Derivative Financial Instruments        
Realized Gains (Losses) 69,520 (17,336) (417,689) 419,182
Unrealized gains (losses) 0 (400,018) 0 684,794
Total $ 69,520 $ (417,354) $ (417,689) $ 1,103,976
v2.4.0.8
Commitments and Contingencies Commitments and Contingencies (Details) (USD $)
3 Months Ended
Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract]  
Royalty payment settlements expense $ 326,000
Payments for Royalties 304,000
Accrued royalty payment settlement $ 22,000
v2.4.0.8
Asset Retirement Obligations Asset Retirement Obligations (Details) (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Changes in asset retirement obligations    
Balance at December 31, 2012 $ 1,110,093  
Accretion expense 40,347 38,709
Obligations discharged with disposal of properties (249,424)  
Balance at June 30, 2013 $ 901,016  
v2.4.0.8
Assets Held for Sales, Divestitures and Discontinued Operations Assets Held for Sale, Divestitures and Discontinued Operations (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Statement of Operations - Discontinued Operations        
Loss from discontinued operations $ (253,838) $ (422,500) $ (33,370) $ (673,685)
Segment, Discontinued Operations [Member]
       
Statement of Operations - Discontinued Operations        
Crude oil, natural gas and NGLs sales 865,054 395,169 1,692,474 983,290
Crude oil, natural gas and NGLs production costs 299,008 376,970 746,647 752,636
Depreciation, depletion and amortization 0 436,797 155,210 896,600
Direct costs - general and administrative expense 326,051 0 326,051 0
Accretion of asset retirement obligations 2,774 3,902 6,877 7,739
Loss on sale of crude oil and natural gas properties 491,059 0 491,059 0
Total operating costs and expenses 1,118,892 817,669 1,725,844 1,656,975
Loss from discontinued operations $ (253,838) $ (422,500) $ (33,370) $ (673,685)
v2.4.0.8
Assets Held for Sales, Divestitures and Discontinued Operations Additional Information (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Jun. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Consideration received from sale of Piceance Basin oil and gas properties $ 13.8
Loss on disposition of Piceance Basin oil and gas properties $ 0.5
v2.4.0.8
Subsequent Events (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Jun. 30, 2013
Subsequent Event [Line Items]  
Payments of Capital Distribution $ 13.8
Managing General Partner
 
Subsequent Event [Line Items]  
Payments of Capital Distribution 5.1
Investor Partners
 
Subsequent Event [Line Items]  
Payments of Capital Distribution $ 8.7