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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Recurring Fair Value Measurements
The following tables set forth our recurring fair value measurements:
 
 
June 30, 2016
 
 
Level 2
 
Level 3
 
Effect
of Netting
 
Net Amounts Presented
 
 
(In thousands)
Financial assets (liabilities):
 
 
 
 
 
 
 
 
Commodity derivatives:
 
 
 
 
 
 
 
 
Assets
 
$
435

 
$
515

 
$
(950
)
 
$
—

Liabilities
 
(8,740
)
 
(5,276
)
 
950

 
(13,066
)
 
 
$
(8,305
)
 
$
(4,761
)
 
$
—

 
$
(13,066
)
 
 
December 31, 2015
 
 
Level 2
 
Level 3
 
 
Effect
of Netting
 
Net Amounts Presented
 
 
(In thousands)
Financial assets (liabilities):
 
 
 
 
 
 
 
 
 
Commodity derivatives:
 
 
 
 
 
 
 
 
 
Assets
 
$
2,794

 
$
10,145

 
 
$
(1,785
)
 
$
11,154

Liabilities
 
(1,019
)
 
(1,051
)
 
 
1,785

 
(285
)
 
 
$
1,775

 
$
9,094

 
 
$
—

 
$
10,869
Reconciliations Of Level 3 Fair Value Measurements
The following tables are reconciliations of our level 3 fair value measurements: 
 
 
Net Derivatives
 
 
Three Months Ended
 
Six Months Ended
 
 
June 30,
 
June 30,
 
 
2016
 
2015
 
2016
 
2015
 
 
(In thousands)
Beginning of period
 
$
9,983

 
$
857

 
$
9,094

 
$
3,355

Total gains or losses (realized and unrealized):
 
 
 
 
 
 
 
 
Included in earnings (1)
 
(12,322
)
 
111

 
(6,334
)
 
888

Settlements
 
(2,422
)
 
(761
)
 
(7,521
)
 
(4,036
)
End of period
 
$
(4,761
)
 
$
207

 
$
(4,761
)
 
$
207

Total losses for the period included in earnings attributable to the change in unrealized gain (loss) relating to assets still held at end of period
 
$
(14,744
)
 
$
(650
)
 
$
(13,855
)
 
$
(3,148
)
_______________________
(1)
Commodity derivatives are reported in the Unaudited Condensed Consolidated Statements of Operations in gain (loss) on derivatives.
Schedule Of Quantitative Information About Unobservable Inputs
The following table provides quantitative information about our Level 3 unobservable inputs at June 30, 2016:
Commodity (1)
 
Fair Value
 
Valuation Technique
 
Unobservable Input
 
Range
 
 
(In thousands)
 
 
 
 
 
 
Oil collars
 
$
(151
)
 
Discounted cash flow
 
Forward commodity price curve
 
$0.07 - $5.31
Oil three-way collars
 
$
301

 
Discounted cash flow
 
Forward commodity price curve
 
$0.00 - $6.35
Natural gas collar
 
$
(3,253
)
 
Discounted cash flow
 
Forward commodity price curve
 
$0.00 - $0.90
Natural gas three-way collars
 
$
(1,658
)
 
Discounted cash flow
 
Forward commodity price curve
 
$0.00 - $0.51
 _______________________
(1)
The commodity contracts detailed in this category include non-exchange-traded crude oil and natural gas collars and three-way collars that are valued based on NYMEX. The forward pricing range represents the low and high price expected to be paid or received within the settlement period.