v2.4.0.8
Document Entity Information Document
6 Months Ended
Jun. 30, 2014
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, 2014
Document Fiscal Year Focus 2014
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, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 660,006 $ 570,376
Accounts receivable 252,456 378,940
Crude oil inventory 34,128 55,308
Total current assets 946,590 1,004,624
Crude oil and natural gas properties, successful efforts method, at cost 55,854,579 55,748,749
Less: Accumulated depreciation, depletion and amortization (32,984,727) (31,819,541)
Crude oil and natural gas properties, net 22,869,852 23,929,208
Other assets 0 89,630
Total Assets 23,816,442 25,023,462
Current liabilities:    
Accounts payable and accrued expenses 26,746 33,041
Due to Managing General Partner-other, net 142,745 119,994
Total current liabilities 169,491 153,035
Asset retirement obligations 971,990 935,813
Total liabilities 1,141,481 1,088,848
Commitments and contingent liabilities      
Partners' equity:    
Managing General Partner 3,195,788 3,661,859
Limited Partners - 4,470 units issued and outstanding 19,479,173 20,272,755
Total Partners' equity 22,674,961 23,934,614
Total Liabilities and Partners' Equity $ 23,816,442 $ 25,023,462
v2.4.0.8
Balance Sheet Parentheticals (Parentheticals)
Jun. 30, 2014
Dec. 31, 2013
Balance Sheet Parentheticals [Abstract]    
Limited Partners' Capital Account, Units Issued 4,470 4,470
Limited Partners' Capital Account, Units Outstanding 4,470 4,470
v2.4.0.8
Condensed Statements of Operations (Unaudited) Statement (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Crude oil, natural gas and NGLs sales $ 847,932 $ 1,368,588 $ 2,048,299 $ 3,035,929
Commodity price risk management gain (loss), net 0 69,520 0 (417,689)
Total revenues 847,932 1,438,108 2,048,299 2,618,240
Operating costs and expenses:        
Crude oil, natural gas and NGLs production costs 260,163 340,408 500,336 648,908
Direct costs - general and administrative 26,367 42,093 62,620 86,742
Depreciation, depletion and amortization 490,474 774,788 1,165,186 1,676,700
Accretion of asset retirement obligations 18,264 16,897 36,177 33,470
Total operating costs and expenses 795,268 1,174,186 1,764,319 2,445,820
Operating income (loss):        
Income from continuing operations 52,664 263,922 283,980 172,420
Loss from discontinued operations 0 (253,838) 0 (33,370)
Net income 52,664 10,084 283,980 139,050
Net income (loss) per Investor Partner Unit:        
Continuing operations $ 7 $ 37 $ 40 $ 24
Discontinued operations $ 0 $ (36) $ 0 $ (4)
Net income per Investor Partner unit $ 7 $ 1 $ 40 $ 20
Investor Partner units outstanding 4,470 4,470 4,470 4,470
Entity [Domain]
       
Operating income (loss):        
Income from continuing operations 52,664 263,922 283,980 172,420
Loss from discontinued operations 0 (253,838) 0 (33,370)
Managing General Partner
       
Operating income (loss):        
Income from continuing operations 19,486 97,651 105,073 63,795
Loss from discontinued operations 0 (93,920) 0 (12,347)
Investor Partners
       
Operating income (loss):        
Income from continuing operations 33,178 166,271 178,907 108,625
Loss from discontinued operations $ 0 $ (159,918) $ 0 $ (21,023)
v2.4.0.8
Condensed Statements of Cash Flows (Unaudited) Statement (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income $ 283,980 $ 139,050
Adjustments to net income to reconcile to net cash from operating activities:    
Depreciation, depletion and amortization 1,165,186 1,831,910
Accretion of asset retirement obligations 36,177 40,347
Net change in fair value of unsettled derivatives 0 1,693,233
Loss on sale of crude oil and natural gas properties 0 491,059
Changes in assets and liabilities:    
Accounts receivable 126,484 237,399
Crude oil inventory 21,180 (3,127)
Other assets 89,630 (22,327)
Accounts payable and accrued expenses (6,295) 3,999
Due from Managing General Partner-other, net 22,751 268,043
Net cash from operating activities 1,739,093 4,679,586
Cash Flows from Investing Activities:    
Capital expenditures for crude oil and natural gas properties (105,830) 0
Proceeds from sale of crude oil and natural gas properties 0 13,831,901
Net cash from investing activities (105,830) 13,831,901
Cash flows from financing activities:    
Distributions to Partners (1,543,633) (4,679,585)
Net cash from financing activities (1,543,633) (4,679,585)
Net change in cash and cash equivalents 89,630 13,831,902
Cash and cash equivalents, beginning of period 570,376 570,376
Cash and cash equivalents, end of period 660,006 14,402,278
Supplemental disclosure of non-cash activity:    
Change in accounts payable and accrued expenses related to disposition of properties and equipment 0 (463,651)
Change in due from managing general partner-other, net related to disposition of properties and equipment $ 0 $ 124,785
v2.4.0.8
General and Basis of Presentation
6 Months Ended
Jun. 30, 2014
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 (this “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 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, 2014, there were 1,781 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, 2014, the Managing General Partner had repurchased 62.8 units of Partnership interest from the Investor Partners at an average price of $4,241 per unit. As of June 30, 2014, the Managing General Partner owned 37.9% of this Partnership, including the repurchased interest.

In the Managing General Partner's opinion, the accompanying 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 2013 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2013 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, 2014 are not necessarily indicative of the results to be expected for the full year or any future period.
v2.4.0.8
Recent Accounting Standards
6 Months Ended
Jun. 30, 2014
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 Issued Accounting Standard

In April 2014, the Financial Accounting Standards Board issued changes related to the criteria for determining which disposals can be presented as discontinued operations and modified related disclosure requirements. Under the new pronouncement, a discontinued operation is defined as a disposal of a component of an organization that represents a strategic shift and that has a major effect on the organization's operations and financial results. These changes are to be applied prospectively for new disposals or components of this Partnership's business classified as held for sale during interim and annual periods beginning after December 15, 2014, with early adoption permitted. The Managing General Partner of this Partnership is currently evaluating the impact these changes will have on this Partnership's condensed financial statements.

In May 2014, the FASB and the International Accounting Standards Board ("IASB") issued their converged standard on revenue recognition that provides a single, comprehensive model that entities will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The standard outlines a five-step approach to apply the underlying principle: (a) identify the contract with the customer (b) identify the separate performance obligations in the contract (c) determine the transaction price (d) allocate the transaction price to separate performance obligations and (e) recognize revenue when (or as) each performance obligation is satisfied. The revenue standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and can be adopted under the full retrospective method or simplified transition method. Early adoption is not permitted. The Managing General Partner of this Partnership plans to adopt the revenue standard beginning January 1, 2017 and is currently evaluating the impact these changes will have on this Partnership's condensed consolidated financial statements.
v2.4.0.8
Transactions with Managing General Partner
6 Months Ended
Jun. 30, 2014
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 following table presents transactions with the Managing General Partner reflected in the condensed balance sheets line item “Due to Managing General Partner-other, net,” which remain undistributed or unsettled with this Partnership's investors as of the dates indicated:

    
 
June 30, 2014
 
December 31, 2013
Crude oil, natural gas and NGLs sales revenues
collected from this Partnership's third-party customers
$
276,042

 
$
306,014

Other (1)
(418,787
)
 
(426,008
)
Total Due to Managing General Partner-other, net
$
(142,745
)
 
$
(119,994
)

(1)
All other unsettled transactions 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 with the Managing General Partner for the three and six months ended June 30, 2014 and 2013. “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,
 
2014
 
2013
 
2014
 
2013
 Well operations and maintenance
$
214,313

 
$
463,931

 
$
400,850

 
$
1,008,643

 Gathering, compression and processing fees

 
56,575

 

 
122,824

 Direct costs - general and administrative
26,367

 
368,144

 
62,620

 
412,793

 Cash distributions (1)
276,981

 
876,854

 
584,005

 
1,751,281


(1)
Cash distributions include $6,309 and $12,861 during the three and six months ended June 30, 2014, respectively, and $10,425 and $19,816 during the three and six months ended June 30, 2013, 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, 2014
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 carrying value 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, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments Disclosure [Text Block]
Derivative Financial Instruments

This Partnership had no crude oil, natural gas or NGLs derivative activity subsequent to June 30, 2013 as all open positions were either sold or liquidated prior to that date. The following table presents the impact of this Partnership's derivative
instruments on its accompanying condensed statements of operations for the three and six months ended June 30, 2013:

Statement of operations line item:
 
Three Months Ended June 30, 2013
 
Six Months Ended June 30, 2013
Commodity price risk management gain (loss), net
 
 
 
 
Net settlements
 
$
631,288

 
$
1,275,544

Net change in fair value of unsettled derivatives
 
(561,768
)
 
(1,693,233
)
Total commodity price risk management gain (loss), net
 
$
69,520

 
$
(417,689
)
v2.4.0.8
Commitments and Contingencies
6 Months Ended
Jun. 30, 2014
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 the line item captioned “Accounts payable and accrued expenses” on the balance sheets.

During the six months ended June 30, 2014 and June 30, 2013, as a result of the Managing General Partner's periodic review, no new environmental remediation projects were identified and this Partnership's expense for environmental remediation efforts was not significant. This Partnership had no liabilities for environmental remediation efforts as of June 30, 2014 or December 31, 2013.

The Managing General Partner is not currently aware of any environmental claims existing as of June 30, 2014 which have not been provided for or would otherwise be expected to 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 that unknown past non-compliance with environmental laws will not be discovered on this Partnership's properties.
v2.4.0.8
Asset Retirement Obligations Asset Retirement Obligations (Notes)
6 Months Ended
Jun. 30, 2014
ASSET RETIREMENT OBLIGATIONS [Abstract]  
Asset Retirement Obligation Disclosure [Text Block]
Asset Retirement Obligations

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

 
Amount
 
 
Balance at December 31, 2013
$
935,813

Accretion expense
36,177

Balance at June 30, 2014
$
971,990

v2.4.0.8
Assets Held for Sales, Divestitures and Discontinued Operations
6 Months Ended
Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
Divestitures and Discontinued Operations

Piceance Basin. In June 2013, this Partnership divested its Piceance Basin assets and certain derivatives for total consideration of approximately $13.5 million. The divestiture of this Partnership's Piceance Basin assets resulted in a decrease of crude oil and natural gas properties of $23.8 million and a decrease of accumulated depreciation, depletion and amortization of $10.3 million. The sale resulted in a loss on divestiture of assets of approximately $0.5 million.
In July 2013, this Partnership distributed proceeds received for the Piceance Basin asset divestiture to the Managing General Partner and Investor Partners as follows:
 
 
Amount
Distributed to:
 
(millions)
 
 
 
Managing General Partner
 
$
5.0

Investor Partners
 
8.5

Total
 
$
13.5

 
 
 

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 condensed statement of operations for the three and six months ended June 30, 2013.
The following table presents statement of operations data related to this Partnership's discontinued operations for the Piceance Basin divestiture:

Statement of Operations - Discontinued Operations
 
Three Months Ended June 30, 2013
 
Six Months Ended June 30, 2013
 
 
 
 
 
Revenues:
 
 
 
 
Crude oil, natural gas and NGLs sales
 
$
865,054

 
$
1,692,474

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

 
746,647

Depreciation, depletion and amortization
 

 
155,210

Direct costs - general and administrative expense
 
326,051

 
326,051

Accretion of asset retirement obligations
 
2,774

 
6,877

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

 
491,059

Total operating costs and expenses
 
1,118,892

 
1,725,844

Loss from discontinued operations
 
$
(253,838
)
 
$
(33,370
)
v2.4.0.8
Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Accounting, Policy [Policy Text Block]
In the Managing General Partner's opinion, the accompanying 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 2013 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2013 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, 2014 are not necessarily indicative of the results to be expected for the full year or any future period.
v2.4.0.8
Transactions with Managing General Partner Transactions with Managing General Partner (Tables)
6 Months Ended
Jun. 30, 2014
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 sheets line item “Due to Managing General Partner-other, net,” which remain undistributed or unsettled with this Partnership's investors as of the dates indicated:

    
 
June 30, 2014
 
December 31, 2013
Crude oil, natural gas and NGLs sales revenues
collected from this Partnership's third-party customers
$
276,042

 
$
306,014

Other (1)
(418,787
)
 
(426,008
)
Total Due to Managing General Partner-other, net
$
(142,745
)
 
$
(119,994
)

(1)
All other unsettled transactions 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 with the Managing General Partner for the three and six months ended June 30, 2014 and 2013. “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,
 
2014
 
2013
 
2014
 
2013
 Well operations and maintenance
$
214,313

 
$
463,931

 
$
400,850

 
$
1,008,643

 Gathering, compression and processing fees

 
56,575

 

 
122,824

 Direct costs - general and administrative
26,367

 
368,144

 
62,620

 
412,793

 Cash distributions (1)
276,981

 
876,854

 
584,005

 
1,751,281


(1)
Cash distributions include $6,309 and $12,861 during the three and six months ended June 30, 2014, respectively, and $10,425 and $19,816 during the three and six months ended June 30, 2013, respectively, related to equity cash distributions for Investor Partner units repurchased by PDC.
v2.4.0.8
Derivative Financial Instruments Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2014
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 table presents the impact of this Partnership's derivative
instruments on its accompanying condensed statements of operations for the three and six months ended June 30, 2013:

Statement of operations line item:
 
Three Months Ended June 30, 2013
 
Six Months Ended June 30, 2013
Commodity price risk management gain (loss), net
 
 
 
 
Net settlements
 
$
631,288

 
$
1,275,544

Net change in fair value of unsettled derivatives
 
(561,768
)
 
(1,693,233
)
Total commodity price risk management gain (loss), net
 
$
69,520

 
$
(417,689
)
v2.4.0.8
Asset Retirement Obligations Asset Retirement Obligations (Tables)
6 Months Ended
Jun. 30, 2014
ASSET RETIREMENT OBLIGATIONS [Abstract]  
Schedule of Change in Asset Retirement Obligation [Table Text Block]
The following table presents the changes in the carrying amount of the asset retirement obligations associated with this Partnership's working interest in crude oil and natural gas properties:

 
Amount
 
 
Balance at December 31, 2013
$
935,813

Accretion expense
36,177

Balance at June 30, 2014
$
971,990

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, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Distributions Made to Managing General Partner and Investor Partners [Table Text Block]
In July 2013, this Partnership distributed proceeds received for the Piceance Basin asset divestiture to the Managing General Partner and Investor Partners as follows:
 
 
Amount
Distributed to:
 
(millions)
 
 
 
Managing General Partner
 
$
5.0

Investor Partners
 
8.5

Total
 
$
13.5

 
 
 
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:

Statement of Operations - Discontinued Operations
 
Three Months Ended June 30, 2013
 
Six Months Ended June 30, 2013
 
 
 
 
 
Revenues:
 
 
 
 
Crude oil, natural gas and NGLs sales
 
$
865,054

 
$
1,692,474

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

 
746,647

Depreciation, depletion and amortization
 

 
155,210

Direct costs - general and administrative expense
 
326,051

 
326,051

Accretion of asset retirement obligations
 
2,774

 
6,877

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

 
491,059

Total operating costs and expenses
 
1,118,892

 
1,725,844

Loss from discontinued operations
 
$
(253,838
)
 
$
(33,370
)
v2.4.0.8
General and Basis of Presentation General and Basis of Presentation (Details) (USD $)
6 Months Ended
Jun. 30, 2014
Number_of_Limited_Partners
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of Investor Partners 1,781
Managing General Partner, Ownership Interest Before Unit Repurchases 37.00%
Investor Partner Ownership Interest 63.00%
Limited Partner Units Repurchased by Managing General Partner 62.8
Average Price Paid for Units Repurchased by Managing General Partner $ 4,241
Managing General Partner Ownership Interest 37.90%
v2.4.0.8
Transactions with Managing General Partner Undistributed or Unsettled Transactions With Investor Partners (Details) (USD $)
Jun. 30, 2014
Dec. 31, 2013
Related Party Transaction    
Due from (to) Managing General Partner-other, net $ (142,745) $ (119,994)
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 276,042 306,014
Other
   
Related Party Transaction    
Due from (to) Managing General Partner-other, net $ (418,787) [1] $ (426,008) [1]
[1] All other unsettled transactions 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, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Related Party Transaction        
Direct costs - general and administrative $ 26,367 $ 42,093 $ 62,620 $ 86,742
Transactions with Managing General Partner
       
Related Party Transaction        
Well operations and maintenance 214,313 463,931 400,850 1,008,643
Gathering, compression and processing fees 0 56,575 0 122,824
Direct costs - general and administrative 26,367 368,144 62,620 412,793
Cash distributions 276,981 [1] 876,854 [1] 584,005 [1] 1,751,281 [1]
Distribution Made to Limited Partner, Cash Distributions Paid $ 6,309 $ 10,425 $ 12,861 $ 19,816
[1] Cash distributions include $6,309 and $12,861 during the three and six months ended June 30, 2014, respectively, and $10,425 and $19,816 during the three and six months ended June 30, 2013, respectively, related to equity cash distributions for Investor Partner units repurchased by PDC.
v2.4.0.8
Derivative Financial Instruments Derivative Financial Instruments (Details) (Commodity Price Risk Management, net [Member], USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2013
Commodity Price Risk Management, net [Member]
   
Derivative Financial Instruments    
Net settlements $ 631,288 $ 1,275,544
Net change in fair value of unsettled derivatives (561,768) (1,693,233)
Total commodity price risk management gain (loss), net $ 69,520 $ (417,689)
v2.4.0.8
Commitments and Contingencies Commitments and Contingencies (Details) (USD $)
Jun. 30, 2014
Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]    
Accrued environmental remediation liabilities $ 0 $ 0
v2.4.0.8
Asset Retirement Obligations Asset Retirement Obligations (Details) (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Changes in asset retirement obligations    
Balance at December 31, 2013 $ 935,813  
Accretion Expense 36,177 40,347
Balance at June 30, 2014 $ 971,990  
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, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Statement of Operations - Discontinued Operations        
Loss from discontinued operations $ 0 $ (253,838) $ 0 $ (33,370)
Segment, Discontinued Operations [Member]
       
Statement of Operations - Discontinued Operations        
Crude oil, natural gas and NGL sales   865,054   1,692,474
Crude oil, natural gas and NGL production costs   299,008   746,647
Depreciation, depletion and amortization   0   155,210
Direct costs - general and administrative expense   326,051   326,051
Accretion of asset retirement obligations   2,774   6,877
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax   491,059   491,059
Total operating costs and expenses   1,118,892   1,725,844
Loss from discontinued operations   $ (253,838)   $ (33,370)
v2.4.0.8
Assets Held for Sales, Divestitures and Discontinued Operations Additional Information (Details) (USD $)
3 Months Ended 6 Months Ended
Sep. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Dec. 31, 2013
Piceance Basin Assets Divested        
Total proceeds from Piceance Basin asset divestiture   $ 0 $ 13,831,901  
Proceeds received from sale of Piceance Basin assets 13,500,000      
Crude oil and natural gas properties   55,854,579   55,748,749
Accumulated depreciation, depletion and amortization   32,984,727   31,819,541
Loss on disposal of Piceance Basin oil and gas properties   0 (491,059)  
Piceance Basin Asset Group
       
Piceance Basin Assets Divested        
Total proceeds from Piceance Basin asset divestiture 13,500,000      
Crude oil and natural gas properties 23,800,000      
Accumulated depreciation, depletion and amortization 10,300,000      
Loss on disposal of Piceance Basin oil and gas properties 500,000      
Managing General Partner
       
Piceance Basin Assets Divested        
Proceeds received from sale of Piceance Basin assets 5,000,000      
Investor Partners
       
Piceance Basin Assets Divested        
Proceeds received from sale of Piceance Basin assets $ 8,500,000