Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Summary of the valuation of the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis

The following tables summarize the valuation of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis in accordance with the classifications provided above as of September 30, 2014 and December 31, 2013 (in thousands).



	Fair Value Measurements at September 30, 2014 using
Description	Level 1		Level 2			Level 3		Total
Assets (Liabilities)
Oil, natural gas and NGL derivatives	$	—	$	5,207		$	—	$	5,207
Oil, natural gas and NGL derivatives	—		(9		)	—		(9		)
Total	$	—	$	5,198		$	—	$	5,198



	Fair Value Measurements at December 31, 2013 using
Description	Level 1		Level 2			Level 3		Total
Assets (Liabilities)
Oil, natural gas and NGL derivatives	$	—	$	192		$	—	$	192
Oil, natural gas and NGL derivatives	—		(2,945		)	—		(2,945		)
Total	$	—	$	(2,753	)	$	—	$	(2,753	)

Additions to asset retirement obligations and lease and well equipment inventory at fair value on a non-recurring basis

The following tables summarize the valuation of the Company’s assets and liabilities that were accounted for at fair value on a non-recurring basis for the periods ended September 30, 2014 and December 31, 2013 (in thousands).



	Fair Value Measurements at September 30, 2014 using
Description	Level 1		Level 2		Level 3			Total
Assets (Liabilities)
Asset retirement obligations	$	—	$	—	$	(3,458	)	$	(3,458	)
Total	$	—	$	—	$	(3,458	)	$	(3,458	)



	Fair Value Measurements at December 31, 2013 using
Description	Level 1		Level 2		Level 3			Total
Assets (Liabilities)
Asset retirement obligations	$	—	$	—	$	(1,470	)	$	(1,470	)
Total	$	—	$	—	$	(1,470	)	$	(1,470	)