Fair Value Measurements: Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

A discussion of fair value of financial instruments is included in Note 10. The following tables set forth, by level within the fair value hierarchy, our gross assets and gross liabilities and related offsetting as permitted by GAAP that were accounted for at fair value on a recurring basis for derivative instruments (in thousands):

	As of December 31, 2014
	Level 1		Level 2		Level 3		Cash Collateral and Counterparty Netting			Total
Assets:
Commodity derivatives - Oil and Gas:
Options -- Oil	$	—	$	—	$	—	$	—		$	—
Basis Swaps -- Oil	—		8,599		—		(8,599		)	—
Options -- Gas	—		—		—		—			—
Basis Swaps -- Gas	—		6,558		—		(6,558		)	—
Commodity derivatives - Utilities	—		2,389		—		(2,389		)	—
Total	$	—	$	17,546	$	—	$	(17,546	)	$	—
Liabilities:
Commodity derivatives - Oil and Gas:
Options -- Oil	$	—	$	—	$	—	$	—		$	—
Basis Swaps -- Oil	—		—		—		—			—
Options -- Gas	—		—		—		—			—
Basis Swaps -- Gas	—		473		—		(473		)	—
Commodity derivatives - Utilities	—		19,303		—		(19,303		)	—
Interest rate swaps	—		6,020		—		—			6,020
Total	$	—	$	25,796	$	—	$	(19,776	)	$	6,020

	As of December 31, 2013
	Level 1		Level 2		Level 3		Cash Collateral and Counterparty Netting			Total
Assets:
Commodity derivatives - Oil and Gas:
Options -- Oil	$	—	$	—	$	—	$	—		$	—
Basis Swaps -- Oil	—		130		—		(75		)	55
Options -- Gas	—		—		—		—			—
Basis Swaps -- Gas	—		815		—		(815		)	—
Commodity derivatives - Utilities	—		3,030		—		(2,368		)	662
Total	$	—	$	3,975	$	—	$	(3,258	)	$	717
Liabilities:
Commodity derivatives - Oil and Gas:
Options -- Oil	$	—	$	—	$	—	$	—		$	—
Basis Swaps -- Oil	—		1,229		—		(1,229		)	—
Options -- Gas	—		—		—		—			—
Basis Swaps -- Gas	—		531		—		(531		)	—
Commodity derivatives - Utilities	—		9,100		—		(9,100		)	—
Interest rate swaps	—		9,088		—		—			9,088
Total	$	—	$	19,948	$	—	$	(10,860	)	$	9,088

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following tables present the fair value and balance sheet classification of our derivative instruments as of December 31, (in thousands):

		2014				2013
	Balance Sheet Location	Fair Value of Asset Derivatives		Fair Value of Liability Derivatives		Fair Value of Asset Derivatives		Fair Value of Liability Derivatives
Derivatives designated as hedges:
Commodity derivatives	Derivative assets - current	$	10,391	$	—	$	248	$	—
Commodity derivatives	Derivative assets - non-current	4,766		—		698		—
Commodity derivatives	Derivative liabilities - current	—		185		—		1,541
Commodity derivatives	Derivative liabilities - non-current	—		288		—		219
Interest rate swaps	Derivative liabilities - current	—		3,340		—		3,474
Interest rate swaps	Derivative liabilities - non-current	—		2,680		—		5,614
Total derivatives designated as hedges		$	15,157	$	6,493	$	946	$	10,848
Derivatives not designated as hedges:
Commodity derivatives	Derivative assets - current	$	—	$	—	$	662	$	—
Commodity derivatives	Derivative assets - non-current	—		—		—		—
Commodity derivatives	Derivative liabilities - current	—		8,032		—		—
Commodity derivatives	Derivative liabilities - non-current	—		8,882		—		6,732
Interest rate swaps	Derivative liabilities - current	—		—		—		—
Interest rate swaps	Derivative liabilities - non-current	—		—		—		—
Total derivatives not designated as hedges		$	—	$	16,914	$	662	$	6,732

Schedule of Derivative Offsetting on Balance Sheet

Offsetting of derivative assets and derivative liabilities on our Consolidated Balance Sheets at December 31, 2014 was as follows (in thousands):

Derivative Assets	Gross Amounts of Derivative Assets		Gross Amounts Offset on Consolidated Balance Sheets			Net Amount of Total Derivative Assets on Consolidated Balance Sheets
Subject to master netting agreement or similar arrangement:
Commodity derivative:
Oil and Gas - Crude Basis Swaps	$	8,599	$	(8,599	)	$	—
Oil and Gas - Crude Options	—		—			—
Oil and Gas - Natural Gas Basis Swaps	6,558		(6,558		)	—
Utilities	2,389		(2,389		)	—
Total derivative assets subject to a master netting agreement or similar arrangement	17,546		(17,546		)	—
Not subject to a master netting agreement or similar arrangement:
Commodity derivative:
Oil and Gas - Crude Basis Swaps	—		—			—
Oil and Gas - Crude Options	—		—			—
Oil and Gas - Natural Gas Basis Swaps	—		—			—
Utilities	—		—			—
Total derivative assets not subject to a master netting agreement or similar arrangement	—		—			—
Total derivative assets	$	17,546	$	(17,546	)	$	—

Derivative Liabilities	Gross Amounts of Derivative Liabilities		Gross Amounts Offset on Consolidated Balance Sheets			Net Amount of Total Derivative Liabilities on Consolidated Balance Sheets
Subject to a master netting agreement or similar arrangement:
Commodity derivative:
Oil and Gas - Crude Basis Swaps	$	—	$	—		$	—
Oil and Gas - Crude Options	—		—			—
Oil and Gas - Natural Gas Basis Swaps	473		(473		)	—
Utilities	19,303		(19,303		)	—
Interest Rate Swaps	—		—			—
Total derivative liabilities subject to a master netting agreement or similar arrangement	19,776		(19,776		)	—
Not subject to a master netting agreement or similar arrangement:
Commodity derivative:
Oil and Gas - Crude Basis Swaps	—		—			—
Oil and Gas - Crude Options	—		—			—
Oil and Gas - Natural Gas Basis Swaps	—		—			—
Utilities	—		—			—
Interest Rate Swaps	6,020		—			6,020
Total derivative liabilities not subject to a master netting agreement or similar arrangement	6,020		—			6,020
Total derivative liabilities	$	25,796	$	(19,776	)	$	6,020

Offsetting of derivative assets and derivative liabilities on our Consolidated Balance Sheets as of December 31, 2013 were as follows (in thousands):

Derivative Assets	Gross Amounts of Derivative Assets		Gross Amounts Offset on Consolidated Balance Sheets			Net Amount of Total Derivative Assets on Consolidated Balance Sheets
Subject to master netting agreement or similar arrangement:
Commodity derivative:
Oil and Gas - Crude Basis Swaps	$	75	$	(75	)	$	—
Oil and Gas - Crude Options	—		—			—
Oil and Gas - Natural Gas Basis Swaps	815		(815		)	—
Utilities	3,030		(2,368		)	662
Total derivative assets subject to a master netting agreement or similar arrangement	3,920		(3,258		)	662
Not subject to a master netting agreement or similar arrangement:
Commodity derivative:
Oil and Gas - Crude Basis Swaps	55		—			55
Oil and Gas - Crude Options	—		—			—
Oil and Gas - Natural Gas Basis Swaps	—		—			—
Utilities	—		—			—
Total derivative assets not subject to a master netting agreement or similar arrangement	55		—			55
Total derivative assets	$	3,975	$	(3,258	)	$	717

Derivative Liabilities	Gross Amounts of Derivative Liabilities		Gross Amounts Offset on Consolidated Balance Sheets			Net Amount of Total Derivative Liabilities on Consolidated Balance Sheets
Subject to a master netting agreement or similar arrangement:
Commodity derivative:
Oil and Gas - Crude Basis Swaps	$	1,229	$	(1,229	)	$	—
Oil and Gas - Crude Options	—		—			—
Oil and Gas - Natural Gas Basis Swaps	531		(531		)	—
Utilities	9,100		(9,100		)	—
Interest Rate Swaps	—		—			—
Total derivative liabilities subject to a master netting agreement or similar arrangement	10,860		(10,860		)	—
Not subject to a master netting agreement or similar arrangement:
Commodity derivative:
Oil and Gas - Crude Basis Swaps	—		—			—
Oil and Gas - Crude Options	—		—			—
Oil and Gas - Natural Gas Basis Swaps	—		—			—
Utilities	—		—			—
Interest Rate Swaps	9,088		—			9,088
Total derivative liabilities not subject to a master netting agreement or similar arrangement	9,088		—			9,088
Total derivative liabilities	$	19,948	$	(10,860	)	$	9,088

Derivative assets and derivative liabilities and collateral held by counterparty included in our Consolidated Balance Sheets as of December 31, 2014 were (in thousands):

				Gross Amounts Not Offset on Consolidated Balance Sheets
Contract Type		Net Amount of Total Derivative Assets		Cash Collateral Received		Net Amount with Counterparty
Assets:
Oil and Gas	Counterparty A	$	—	$	—	$	—
Oil and Gas	Counterparty B	—		—		—
Utilities	Counterparty A	—		—		—
		$	—	$	—	$	—

				Gross Amounts Not Offset on Consolidated Balance Sheets
Contract Type		Net Amount of Total Derivative Liabilities		Cash Collateral Paid			Net Amount with Counterparty
Liabilities:
Oil and Gas	Counterparty A	$	—	$	(4,392	)	$	(4,392	)
Oil and Gas	Counterparty B	—		—			—
Utilities	Counterparty A	—		(3,093		)	(3,093		)
Interest Rate Swaps	Counterparty F	6,020		—			6,020
		$	6,020	$	(7,485	)	$	(1,465	)

Derivative assets and derivative liabilities and collateral held by counterparty included in our Consolidated Balance Sheets as of December 31, 2013 were (in thousands):

				Gross Amounts Not Offset on Consolidated Balance Sheets
Contract Type		Net Amount of Total Derivative Assets		Cash Collateral Received		Net Amount with Counterparty
Assets:
Oil and Gas	Counterparty A	$	—	$	—	$	—
Oil and Gas	Counterparty B	55		—		55
Utilities	Counterparty A	662		—		662
		$	717	$	—	$	717

				Gross Amounts Not Offset on Consolidated Balance Sheets
Contract Type		Net Amount of Total Derivative Liabilities		Cash Collateral Paid			Net Amount with Counterparty
Liabilities:
Oil and Gas	Counterparty A	$	—	$	(1,631	)	$	(1,631	)
Oil and Gas	Counterparty B	—		—			—
Utilities	Counterparty A	—		(3,390		)	(3,390		)
Interest Rate Swap	Counterparty F	9,088		—			9,088
		$	9,088	$	(5,021	)	$	4,067