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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2014
Derivative Instruments Not Designated as Hedging Instruments [Abstract]  
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table presents the location and fair value amounts of our derivative instruments on the condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013:
 
 
 
 
 
Fair Value
Derivatives instruments:
 
Balance sheet line item
 
June 30, 2014
 
December 31, 2013
 
 
 
 
 
(in thousands)
Derivative assets:
Current
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
$
519

 
$
2,016

 
Related to natural gas marketing
 
Fair value of derivatives
 
264

 
361

 
Basis protection contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
—

 
195

 
Related to natural gas marketing
 
Fair value of derivatives
 
2

 
—

 
 
 
 
 
785

 
2,572

 
Non-current
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
721

 
5,055

 
Related to natural gas marketing
 
Fair value of derivatives
 
190

 
278

 
Basis protection contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
247

 
268

 
 
 
 
 
1,158

 
5,601

Total derivative assets
 
 
 
 
$
1,943

 
$
8,173

 
 
 
 
 
 
 
 
Derivative liabilities:
Current
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
$
50,434

 
$
15,263

 
Related to natural gas marketing
 
Fair value of derivatives
 
196

 
247

 
Basis protection contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
207

 
—

 
Related to natural gas marketing
 
Fair value of derivatives
 
1

 
5

 
 
 
 
 
50,838

 
15,515

 
Non-current
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
23,255

 
2,782

 
Related to natural gas marketing
 
Fair value of derivatives
 
160

 
233

 
 
 
 
 
23,415

 
3,015

Total derivative liabilities
 
 
 
 
$
74,253

 
$
18,530



    
The following table presents the impact of our derivative instruments on our condensed consolidated statements of operations:

 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
Condensed consolidated statement of operations line item
 
2014
 
2013
 
2014
 
2013
 
 
(in thousands)
Commodity price risk management income (loss), net
 
 
 
 
 
 
 
 
Net settlements
 
$
(10,429
)
 
$
3,903

 
$
(18,668
)
 
$
12,374

Net change in fair value of unsettled derivatives
 
(42,982
)
 
20,821

 
(61,898
)
 
(10,005
)
Total commodity price risk management income (loss), net
 
$
(53,411
)
 
$
24,724

 
$
(80,566
)
 
$
2,369

Sales from natural gas marketing
 
 
 
 
 
 
 
 
Net settlements
 
$
(110
)
 
$
(173
)
 
$
(586
)
 
$
28

Net change in fair value of unsettled derivatives
 
265

 
1,621

 
(47
)
 
651

Total sales from natural gas marketing
 
$
155

 
$
1,448

 
$
(633
)
 
$
679

Cost of natural gas marketing
 
 
 
 
 
 
 
 
Net settlements
 
$
149

 
$
225

 
$
684

 
$
63

Net change in fair value of unsettled derivatives
 
(304
)
 
(1,636
)
 
(8
)
 
(559
)
Total cost of natural gas marketing
 
$
(155
)
 
$
(1,411
)
 
$
676

 
$
(496
)
 
 
 
 
 
 
 
 
 

All of our financial derivative agreements contain master netting provisions that provide for the net settlement of all contracts through a single payment in the event of early termination. Our fixed-price physical purchase and sale agreements that qualify as derivative contracts are not subject to master netting provisions and are not significant. We have elected not to offset the fair value positions recorded on our condensed consolidated balance sheets.

The following table reflects the impact of netting agreements on gross derivative assets and liabilities as of June 30, 2014 and December 31, 2013:
As of June 30, 2014
 
Derivatives instruments, recorded in condensed consolidated balance sheet, gross
 
Effect of master netting agreements
 
Derivative instruments, net
 
 
(in thousands)
Asset derivatives:
 
 
 
 
 
 
Derivative instruments, at fair value
 
$
1,943

 
$
(1,165
)
 
$
778

 
 
 
 
 
 
 
Liability derivatives:
 
 
 
 
 
 
Derivative instruments, at fair value
 
$
74,253

 
$
(1,165
)
 
$
73,088

 
 
 
 
 
 
 

As of December 31, 2013
 
Derivatives instruments, recorded in condensed consolidated balance sheet, gross
 
Effect of master netting agreements
 
Derivative instruments, net
 
 
(in thousands)
Asset derivatives:
 
 
 
 
 
 
Derivative instruments, at fair value
 
$
8,173

 
$
(5,623
)
 
$
2,550

 
 
 
 
 
 
 
Liability derivatives:
 
 
 
 
 
 
Derivative instruments, at fair value
 
$
18,530

 
$
(5,623
)
 
$
12,907