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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2015
Open Option Contracts Written [Line Items]  
Summary of gross asset balances of derivative instruments
The following table presents the gross asset and liability fair values of the Company’s commodity price derivative financial instruments and the location of these balances in the unaudited condensed consolidated balance sheet as of September 30, 2015 and December 31, 2014 (in thousands).
Derivative Instruments
Gross
amounts
recognized
 
Gross amounts
netted in the condensed
consolidated
balance sheets
 
Net amounts presented in the condensed
consolidated
balance sheets
September 30, 2015
 
 
 
 
 
   Current assets
$
29,131

 
$
(966
)
 
$
28,165

   Other assets
2,685

 
(657
)
 
2,028

   Current liabilities
(979
)
 
979

 
—

   Other liabilities
(644
)
 
644

 
—

      Total
$
30,193

 
$
—

 
$
30,193

December 31, 2014
 
 
 
 
 
   Current assets
$
56,255

 
$
(706
)
 
$
55,549

   Current liabilities
(706
)
 
706

 
—

      Total
$
55,549

 
$
—

 
$
55,549
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
The following table summarizes the location and aggregate fair value of all derivative financial instruments recorded in the unaudited condensed consolidated statements of operations for the periods presented (in thousands). These derivative financial instruments are not designated as hedging instruments.
 
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
Type of Instrument
Location in Condensed Consolidated Statement of Operations
 
2015
 
2014
 
2015
 
2014
Derivative Instrument
 
 
 
 
 
 
 
 
 
Oil
Revenues: Realized gain (loss) on derivatives
 
$
17,056

 
$
(816
)
 
$
42,013

 
$
(4,523
)
Natural Gas
Revenues: Realized gain (loss) on derivatives
 
2,215

 
19

 
8,531

 
(757
)
NGL
Revenues: Realized gain (loss) on derivatives
 
591

 
96

 
1,602

 
(178
)
Realized gain (loss) on derivatives
 
19,862

 
(701
)
 
52,146

 
(5,458
)
Oil
Revenues: Unrealized gain (loss) on derivatives
 
6,421

 
14,106

 
(19,923
)
 
6,359

Natural Gas
Revenues: Unrealized gain (loss) on derivatives
 
808

 
1,933

 
(4,035
)
 
1,362

NGL
Revenues: Unrealized (loss) gain on derivatives
 
(496
)
 
254

 
(1,398
)
 
229

Unrealized gain (loss) on derivatives
 
6,733

 
16,293

 
(25,356
)
 
7,950

Total
 
 
$
26,595

 
$
15,592

 
$
26,790

 
$
2,492
Open costless collar contracts  
Open Option Contracts Written [Line Items]  
Summary of contracts for oil and natural gas
The following is a summary of the Company’s open costless collar contracts for oil and natural gas and open swap contracts for NGL at September 30, 2015.
Commodity
Calculation Period
 
Notional
Quantity
(Bbl/month)
 
Price
Floor
($/Bbl)
 
Price
Ceiling
($/Bbl)
 
Fair Value of
Asset
(Liability)
(thousands)
Oil
10/01/2015 - 12/31/2015
 
40,000

 
45.00

 
68.75
 
$
246

Oil
10/01/2015 - 12/31/2015
 
50,000

 
50.00

 
67.85
 
782

Oil
10/01/2015 - 12/31/2015
 
20,000

 
80.00

 
100.00
 
2,053

Oil
10/01/2015 - 12/31/2015
 
20,000

 
80.00

 
101.00
 
2,052

Oil
10/01/2015 - 12/31/2015
 
20,000

 
83.00

 
96.12
 
2,232

Oil
10/01/2015 - 12/31/2015
 
20,000

 
83.00

 
97.00
 
2,233

Oil
10/01/2015 - 12/31/2015
 
20,000

 
85.00

 
99.00
 
2,352

Oil
10/01/2015 - 12/31/2015
 
20,000

 
85.00

 
100.00
 
2,353

Oil
10/01/2015 - 12/31/2015
 
20,000

 
85.00

 
105.10
 
2,352

Oil
10/01/2015 - 12/31/2016
 
40,000

 
55.00

 
68.35
 
5,097

Oil
01/01/2016 - 12/31/2016
 
40,000

 
43.00

 
77.05
 
1,267

Oil
01/01/2016 - 12/31/2016
 
50,000

 
45.00

 
77.75
 
2,038

Total open oil costless collar contracts
 
 
 
 
 
 
 
25,057

Commodity
Calculation Period
 
Notional
Quantity
(MMBtu/month)
 
Price
Floor
($/MMBtu)
 
Price
Ceiling
($/MMBtu)
 
Fair Value of
Asset
(Liability)
(thousands)
Natural Gas
10/01/2015 - 10/31/2015
 
150,000

 
2.75

 
3.19

 
28

Natural Gas
10/01/2015 - 12/31/2015
 
100,000

 
2.75

 
3.05

 
58

Natural Gas
10/01/2015 - 12/31/2015
 
100,000

 
2.75

 
3.15

 
60

Natural Gas
10/01/2015 - 12/31/2015
 
100,000

 
2.75

 
3.11

 
59

Natural Gas
10/01/2015 - 12/31/2015
 
300,000

 
2.88

 
3.18

 
279

Natural Gas
10/01/2015 - 12/31/2015
 
100,000

 
3.75

 
4.36

 
347

Natural Gas
10/01/2015 - 12/31/2015
 
100,000

 
3.75

 
4.45

 
347

Natural Gas
10/01/2015 - 12/31/2015
 
100,000

 
3.75

 
4.60

 
347

Natural Gas
10/01/2015 - 12/31/2015
 
100,000

 
3.75

 
4.65

 
347

Natural Gas
10/01/2015 - 12/31/2015
 
200,000

 
3.75

 
5.04

 
694

Natural Gas
10/01/2015 - 12/31/2015
 
100,000

 
3.75

 
5.34

 
346

Natural Gas
01/01/2016 - 12/31/2016
 
200,000

 
2.75

 
3.50

 
409

Natural Gas
01/01/2016 - 12/31/2016
 
200,000

 
2.75

 
3.86

 
501

Natural Gas
01/01/2016 - 12/31/2016
 
300,000

 
2.75

 
3.95

 
784

Total open natural gas costless collar contracts
 
 
 
 
 
 
 
4,606
Open Swap Contracts  
Open Option Contracts Written [Line Items]  
Summary of contracts for oil and natural gas
Commodity
Calculation Period
 
Notional Quantity
(Gal/month)
 
Fixed Price
($/Gal)
 
Fair Value of Asset (Liability)
(thousands)
Propane
10/01/2015 - 12/31/2015
 
150,000

 
1.000

 
239

Propane
10/01/2015 - 12/31/2015
 
100,000

 
1.030

 
168

Propane
10/01/2015 - 12/31/2015
 
68,000

 
1.073

 
123

   Total open NGL swap contracts
 
 
 
 
 
 
530

Total open derivative financial instruments
 
 
 
 
 
 
$
30,193