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Accounting for Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table summarizes the net notional volume buy/(sell) of the Company’s open derivative financial instruments accounted for at fair value, broken out by commodity, as of (in thousands):
Non-trading 
Commodity
Notional

June 30, 2017

December 31, 2016
Natural Gas
MMBtu

9,054


8,016

Natural Gas Basis
MMBtu

—


—

Electricity
MWh

5,001


3,958

Trading
Commodity
Notional

June 30, 2017

December 31, 2016
Natural Gas
MMBtu

683


(953
)
Natural Gas Basis
MMBtu

78


(380
)
Gains (Losses) on Derivative Instruments
Gains (losses) on derivative instruments, net and current period settlements on derivative instruments were as follows for the periods indicated (in thousands):

Three Months Ended June 30,
  
2017

2016
(Loss) gain on non-trading derivatives, net
$
(10,202
)

$
13,322

Gain (loss) on trading derivatives, net
525


(77
)
(Loss) gain on derivatives, net
(9,677
)

13,245

Current period settlements on non-trading derivatives (1) (2) (3)
4,020


953

Current period settlements on trading derivatives
(24
)

71

Total current period settlements on derivatives
$
3,996


$
1,024

(1) Excludes settlements of $0.9 million for the three months ended June 30, 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis and $3.4 million for the three months ended June 30, 2016 related to Major Energy Companies.
(2) Excludes settlements of $1.3 million for the three months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies.
(3) Excludes settlements of $0.4 million for the three months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of Perigee and other customers.


Six Months Ended June 30,
  
2017

2016
(Loss) gain on non-trading derivatives, net
$
(31,578
)

$
3,702

Gain (loss) on trading derivatives, net
105


(206
)
(Loss) gain on derivatives, net
(31,473
)

3,496

Current period settlements on non-trading derivatives (1) (2) (3)
11,535


12,230

Current period settlements on trading derivatives
(184
)

66

Total current period settlements on derivatives
$
11,351


$
12,296


(1) Excludes settlements of less than $0.1 million and $0.1 million, respectively, for the six months ended June 30, 2017 and 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis.
(2) Excludes settlements of less than $0.1 million for the six months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies and $3.4 million for the six months ended June 30, 2016 related to Major Energy Companies.
(3) Excludes settlements of $0.4 million for the six months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of Perigee and other customers.

Three Months Ended June 30,
  
2017
 
2016
(Loss) gain on non-trading derivatives, net
(10,202
)
 
$
13,322

Gain (loss) on trading derivatives, net
525

 
(77
)
(Loss) gain on derivatives, net
(9,677
)
 
13,245

Current period settlements on non-trading derivatives (1) (2) (3)
4,020

 
953

Current period settlements on trading derivatives
(24
)
 
71

Total current period settlements on derivatives
$
3,996

 
$
1,024

(1)
Excludes settlements of less than $0.1 million and $(0.8) million, respectively, for the three months ended June 30, 2017 and 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis.
(2)
Excludes settlements of $(1.3) million for the three months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies.
Offsetting Assets
  
December 31, 2016
Description
Gross Assets

Gross
Amounts
Offset

Net Assets

Cash
Collateral
Offset

Net Amount
Presented
Non-trading commodity derivatives
$
19,657


$
(11,844
)

$
7,813


$
—


$
7,813

Trading commodity derivatives
614


(83
)

531


—


531

Total Current Derivative Assets
20,271


(11,927
)

8,344


—


8,344

Non-trading commodity derivatives
7,874


(4,791
)

3,083


—


3,083

Total Non-current Derivative Assets
7,874


(4,791
)

3,083


—


3,083

Total Derivative Assets
$
28,145


$
(16,718
)

$
11,427


$
—


$
11,427

The following tables summarize the fair value and offsetting amounts of the Company’s derivative instruments by counterparty and collateral received or paid as of (in thousands):
  
June 30, 2017
Description
Gross Assets

Gross
Amounts
Offset

Net Assets

Cash
Collateral
Offset

Net Amount
Presented
Non-trading commodity derivatives
$
2,160


$
(1,557
)

$
603


$
—


$
603

Trading commodity derivatives
264


(32
)

232


—


232

Total Current Derivative Assets
2,424


(1,589
)

835


—


835

Non-trading commodity derivatives
1,029


(1,145
)

(116
)

—


(116
)
Trading commodity derivatives
306


(68
)

238


—


238

Total Non-current Derivative Assets
1,335


(1,213
)

122


—


122

Total Derivative Assets
$
3,759


$
(2,802
)

$
957


$
—


$
957

  
December 31, 2016
Description
Gross Assets

Gross
Amounts
Offset

Net Assets

Cash
Collateral
Offset

Net Amount
Presented
Non-trading commodity derivatives
$
19,657


$
(11,844
)

$
7,813


$
—


$
7,813

Trading commodity derivatives
614


(83
)

531


—


531

Total Current Derivative Assets
20,271


(11,927
)

8,344


—


8,344

Non-trading commodity derivatives
7,874


(4,791
)

3,083


—


3,083

Total Non-current Derivative Assets
7,874


(4,791
)

3,083


—


3,083

Total Derivative Assets
$
28,145


$
(16,718
)

$
11,427


$
—


$
11,427

The following tables summarize the fair value and offsetting amounts of the Company’s derivative instruments by counterparty and collateral received or paid as of (in thousands):
  
June 30, 2017
Description
Gross Assets

Gross
Amounts
Offset

Net Assets

Cash
Collateral
Offset

Net Amount
Presented
Non-trading commodity derivatives
$
2,160


$
(1,557
)

$
603


$
—


$
603

Trading commodity derivatives
264


(32
)

232


—


232

Total Current Derivative Assets
$
2,424


$
(1,589
)

$
835


$
—


$
835

Non-trading commodity derivatives
$
1,029


$
(1,145
)

$
(116
)

$
—


$
(116
)
Total Non-current Derivative Assets
$
1,335


$
(1,213
)

$
122


$
—


$
122

Total Derivative Assets
$
3,759


$
(2,802
)

$
957


$
—


$
957
Offsetting Liabilities

December 31, 2016
Description
Gross 
Liabilities

Gross
Amounts
Offset

Net
Liabilities

Cash
Collateral
Offset

Net Amount
Presented
Non-trading commodity derivatives
$
(662
)

$
69


$
(593
)

$
—


$
(593
)
Trading commodity derivatives
(92
)

5


(87
)

—


(87
)
Total Current Derivative Liabilities
(754
)

74


(680
)

—


(680
)
Non-trading commodity derivatives
(305
)

237


(68
)

—


(68
)
Total Non-current Derivative Liabilities
(305
)

237


(68
)

—


(68
)
Total Derivative Liabilities
$
(1,059
)

$
311


$
(748
)

$
—


$
(748
)

June 30, 2017
Description
Gross 
Liabilities

Gross
Amounts
Offset

Net
Liabilities

Cash
Collateral
Offset

Net Amount
Presented
Non-trading commodity derivatives
$
(22,183
)

$
15,040


$
(7,143
)

$
300


$
(6,843
)
Trading commodity derivatives
(128
)

24


(104
)

—


(104
)
Total Current Derivative Liabilities
(22,311
)

15,064


(7,247
)

300


(6,947
)
Non-trading commodity derivatives
(8,399
)

4,688


(3,711
)

—


(3,711
)
Trading commodity derivatives
—


—


—


—


—

Total Non-current Derivative Liabilities
(8,399
)

4,688


(3,711
)

—


(3,711
)
Total Derivative Liabilities
$
(30,710
)

$
19,752


$
(10,958
)

$
300


$
(10,658
)

June 30, 2017
Description
Gross 
Liabilities

Gross
Amounts
Offset

Net
Liabilities

Cash
Collateral
Offset

Net Amount
Presented
Non-trading commodity derivatives
$
(22,183
)

$
15,040


$
(7,143
)

$
300


$
(6,843
)
Trading commodity derivatives
(128
)

24


(104
)

—


(104
)
Total Current Derivative Liabilities
$
(22,311
)

$
15,064


$
(7,247
)

$
300


$
(6,947
)
Non-trading commodity derivatives
$
(8,399
)

$
4,688


$
(3,711
)

$
—


$
(3,711
)
Trading commodity derivatives
$
—


$
—


$
—


$
—


$
—

Total Non-current Derivative Liabilities
$
(8,399
)

$
4,688


$
(3,711
)

$
—


$
(3,711
)
Total Derivative Liabilities
$
(30,710
)

$
19,752


$
(10,958
)

$
300


$
(10,658
)

December 31, 2016
Description
Gross 
Liabilities

Gross
Amounts
Offset

Net
Liabilities

Cash
Collateral
Offset

Net Amount
Presented
Non-trading commodity derivatives
$
(662
)

$
69


$
(593
)

$
—


$
(593
)
Trading commodity derivatives
(92
)

5


(87
)

—


(87
)
Total Current Derivative Liabilities
(754
)

74


(680
)

—


(680
)
Non-trading commodity derivatives
(305
)

237


(68
)

—


(68
)
Total Non-current Derivative Liabilities
(305
)

237


(68
)

—


(68
)
Total Derivative Liabilities
$
(1,059
)

$
311


$
(748
)

$
—


$
(748
)