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Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Commodity Derivative Positions
The following table sets forth our commodity derivative positions as of June 30, 2015:
 
 
 
Average
 
 
 
 
 
 
 
 
 
Volume Per
 
Weighted Average Price
 
Fair Value
 
Instrument
 
Day
 
Floor/Swap
 
Ceiling
 
Asset
 
Liability
Crude Oil:
 
 
(barrels)
 
($/barrel)
 
 
 
 
Third quarter 2015 1
Collars
 
3,000

 
$
86.67

 
$
94.73

 
$
5,484

 
$
—

Fourth quarter 2015 1
Collars
 
3,000

 
$
86.67

 
$
94.73

 
5,186

 
—

Third quarter 2015 1
Swaps
 
8,000

 
$
91.06

 
 
 
20,056

 
—

Fourth quarter 2015 1
Swaps
 
8,000

 
$
91.06

 
 
 
19,238

 
—

First quarter 2016
Swaps
 
6,000

 
$
80.41

 
 
 
10,273

 
—

Second quarter 2016
Swaps
 
6,000

 
$
80.41

 
 
 
10,011

 
—

Third quarter 2016
Swaps
 
6,000

 
$
80.41

 
 
 
9,911

 
—

Fourth quarter 2016
Swaps
 
6,000

 
$
80.41

 
 
 
9,635

 
—

Settlements to be received in subsequent period
 
 

 
 

 
10,125

 
—
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,
 
2015
 
2014
 
2015
 
2014
Cash settlements and gains (losses):
 
 
 
 
 
 
 
Cash (paid) received for:
 
 
 
 
 
 
 
Commodity contract settlements
$
34,840

 
$
(7,222
)
 
$
72,332

 
$
(10,279
)
Losses attributable to:
 
 
 
 
 
 
 
Commodity contracts
(50,335
)
 
(35,443
)
 
(64,960
)
 
(48,048
)
 
$
(15,495
)
 
$
(42,665
)
 
$
7,372

 
$
(58,327
)
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, 2015
 
December 31, 2014
 
 
 
Derivative
 
Derivative
 
Derivative
 
Derivative
Type
 
Balance Sheet Location
Assets
 
Liabilities
 
Assets
 
Liabilities
Commodity contracts
 
Derivative assets/liabilities – current
$
80,372

 
$
—

 
$
128,981

 
$
—

Commodity contracts
 
Derivative assets/liabilities – noncurrent
19,546

 
—

 
35,897

 
—

 
 
 
$
99,918

 
$
—

 
$
164,878

 
$
—