Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity Derivative Positions

The following table sets forth our commodity derivative positions as of June 30, 2014:

		Average
		Volume Per	Weighted Average Price			Fair Value
	Instrument	Day	Floor/Swap		Ceiling	Asset		Liability
Crude Oil:		(barrels)	($/barrel)
Third quarter 2014	Collars	2,000	$	90.00	94.33	$	—	$	1,862
Fourth quarter 2014	Collars	2,000	$	90.00	94.33	—		1,487
First quarter 2015	Collars	4,000	$	87.50	94.66	—		2,284
Second quarter 2015	Collars	4,000	$	87.50	94.66	—		1,741
Third quarter 2015	Collars	3,000	$	86.67	94.73	—		1,002
Fourth quarter 2015	Collars	3,000	$	86.67	94.73	—		719
Third quarter 2014	Swaps	10,000	$	93.21		—		10,250
Fourth quarter 2014	Swaps	11,000	$	93.45		—		8,489
First quarter 2015	Swaps	9,000	$	91.81		—		6,227
Second quarter 2015	Swaps	9,000	$	91.81		—		4,637
Third quarter 2015	Swaps	8,000	$	91.06		—		3,478
Fourth quarter 2015	Swaps	8,000	$	91.06		—		2,615
First quarter 2016	Swaps	2,000	$	90.43		—		418
Second quarter 2016	Swaps	2,000	$	90.43		—		218
Third quarter 2016	Swaps	2,000	$	90.43		—		75
Fourth quarter 2016	Swaps	2,000	$	90.43		17		—
First quarter 2015	Swaptions	1,000	$	88.00		—		896
Second quarter 2015	Swaptions	1,000	$	88.00		—		896
Third quarter 2015	Swaptions	1,000	$	88.00		—		896
Fourth quarter 2015	Swaptions	1,000	$	88.00		—		895
Natural Gas:		(in MMBtu)	($/MMBtu)
Third quarter 2014	Swaps	15,000	$	4.10		—		455
Fourth quarter 2014	Swaps	5,000	$	4.50		10		—
First quarter 2015	Swaps	5,000	$	4.50		—		16
Settlements to be paid in subsequent period						—		3,277

Impact of Derivative Activities on Condensed Consolidated Statements of Income

The impact of our derivatives activities on income is included in the Derivatives caption on our Condensed Consolidated Statements of Operations. The following table summarizes the effects of our derivative activities for the periods presented:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2014			2013		2014			2013
Impact by contract type:
Commodity contracts	$	(42,665	)	$	8,588	$	(58,327	)	$	827
Interest rate contracts	—			—		—			—
	$	(42,665	)	$	8,588	$	(58,327	)	$	827
Cash settlements and gains (losses):
Cash (paid) received for:
Commodity contract settlements	$	(7,222	)	$	2,233	$	(10,279	)	$	5,790
Interest rate contract settlements	—			—		—			—
	(7,222		)	2,233		(10,279		)	5,790
Gains (losses) attributable to:
Commodity contracts	(35,443		)	6,355		(48,048		)	(4,963		)
Interest rate contracts	—			—		—			—
	(35,443		)	6,355		(48,048		)	(4,963		)
	$	(42,665	)	$	8,588	$	(58,327	)	$	827

Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets

The following table summarizes the fair values of our derivative instruments as well as the locations of these instruments, on our Condensed Consolidated Balance Sheets as of the dates presented:

		Fair Values as of
		June 30, 2014				December 31, 2013
		Derivative		Derivative		Derivative		Derivative
Type	Balance Sheet Location	Assets		Liabilities		Assets		Liabilities
Commodity contracts	Derivative assets/liabilities - current	$	—	$	44,298	$	3,830	$	10,141
Interest rate contracts	Derivative assets/liabilities - current	—		—		—		—
		—		44,298		3,830		10,141
Commodity contracts	Derivative assets/liabilities - noncurrent	—		8,508		1,552		—
Interest rate contracts	Derivative assets/liabilities - noncurrent	—		—		—		—
		—		8,508		1,552		—
		$	—	$	52,806	$	5,382	$	10,141