Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity Derivative Positions

The following table sets forth our commodity derivative positions as of March 31, 2016:

		Average
		Volume Per	Weighted Average Price			Fair Value
	Instrument	Day	Floor/Swap		Ceiling	Asset		Liability
Crude Oil:		(barrels)	($/barrel)
Second quarter 2016	Swaps	4,000	$	81.45		$	15,107	$	—
Third quarter 2016	Swaps	4,000	$	81.45		14,478		—
Fourth quarter 2016	Swaps	4,000	$	81.45		14,052		—
Settlements pending						5,393		—

Impact of Derivative Activities on Condensed Consolidated Statements of Income

The impact of our derivative 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
	March 31,
	2016			2015
Cash settlements and gains (losses):
Cash received for:
Commodity contract settlements	$	30,559		$	37,492
Losses attributable to:
Commodity contracts	(26,067		)	(14,625		)
	$	4,492		$	22,867

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
		March 31, 2016				December 31, 2015
		Derivative		Derivative		Derivative		Derivative
Type	Balance Sheet Location	Assets		Liabilities		Assets		Liabilities
Commodity contracts	Derivative assets/liabilities – current	$	49,030	$	—	$	97,956	$	—