Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity Derivative Positions

The following table sets forth our commodity derivative positions as of June 30, 2016:

		Average
		Volume Per	Weighted Average Price			Fair Value
	Instrument	Day	Floor/Swap		Ceiling	Asset		Liability
Crude Oil:		(barrels)	($/barrel)
Third quarter 2016	Swaps	5,940	$	47.69		$	—	$	807
Fourth quarter 2016	Swaps	5,940	$	47.69		—		1,628
First quarter 2017	Swaps	4,408	$	48.62		—		1,178
Second quarter 2017	Swaps	4,408	$	48.62		—		1,390
Third quarter 2017	Swaps	4,408	$	48.62		—		1,551
Fourth quarter 2017	Swaps	4,408	$	48.62		—		1,721
First quarter 2018	Swaps	3,476	$	49.12		—		1,252
Second quarter 2018	Swaps	3,476	$	49.12		—		1,329
Third quarter 2018	Swaps	3,476	$	49.12		—		1,410
Fourth quarter 2018	Swaps	3,476	$	49.12		—		1,485
First quarter 2019	Swaps	2,916	$	49.90		—		1,056
Second quarter 2019	Swaps	2,916	$	49.90		—		1,098
Third quarter 2019	Swaps	2,916	$	49.90		—		1,142
Fourth quarter 2019	Swaps	2,916	$	49.90		—		1,195

Impact of Derivative Activities on Condensed Consolidated Statements of Income

The impact of our derivative activities on income is included in “Derivatives” 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,
	2016			2015			2016			2015
Cash settlements and gains (losses):
Cash received for:
Commodity contract settlements	$	16,393		$	34,840		$	46,952		$	72,332
Losses attributable to:
Commodity contracts	(38,152		)	(50,335		)	(64,219		)	(64,960		)
	$	(21,759	)	$	(15,495	)	$	(17,267	)	$	7,372

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, 2016				December 31, 2015
		Derivative		Derivative		Derivative		Derivative
Type	Balance Sheet Location	Assets		Liabilities		Assets		Liabilities
Commodity contracts	Derivative assets/liabilities – current	$	—	$	4,527	$	97,956	$	—
Commodity contracts	Derivative assets/liabilities - noncurrent	$	—	$	13,715	$	—	$	—