Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding commodity derivatives

As of September 30, 2016, the Company had the following outstanding commodity derivatives:

				Collars									Basis Swaps
				Floor				Ceiling			Swaps
Type of Contract	Volume		Contract Period	Range		Weighted-Average		Range	Weighted-Average		Weighted-Average		Weighted-Average
Natural gas	7.5	Bcf	Oct. 2016								$	2.51
Natural gas	35.5	Bcf	Jan. 2017 - Dec. 2017								$	3.12
Natural gas	35.5	Bcf	Jan. 2017 - Dec. 2017	$	—	$	3.09	$3.42-$3.45	$	3.43
Natural gas	17.7	Bcf	Jan. 2018 - Dec. 2019										$	0.42
Crude oil	0.5	Mmbbl	Oct. 2016 - Dec. 2016	$	—	$	38.00	$47.10-$47.50	$	47.28

Effect of derivative instruments on the condensed consolidated balance sheet

Effect of Derivative Instruments on the Condensed Consolidated Balance Sheet

		Derivative Assets				Derivative Liabilities
(In thousands)	Balance Sheet Location	September 30, 2016		December 31, 2015		September 30, 2016		December 31, 2015
Commodity contracts	Other current assets	$	518	$	—	$	—	$	—
Commodity contracts	Other assets (non-current)	1,144		—		—		—
Commodity contracts	Derivative instruments (current)	—		—		5,818		—
Commodity contracts	Other liabilities (non-current)	—		—		335		—
		$	1,662	$	—	$	6,153	$	—

Schedule of offsetting of derivative liabilities in the condensed consolidated balance sheet

Offsetting of Derivative Assets and Liabilities in the Condensed Consolidated Balance Sheet

(In thousands)	September 30, 2016			December 31, 2015
Derivative assets
Gross amounts of recognized assets	$	2,668		$	—
Gross amounts offset in the statement of financial position	(1,006		)	—
Net amounts of assets presented in the statement of financial position	1,662			—
Gross amounts of financial instruments not offset in the statement of financial position	—			—
Net amount	$	1,662		$	—
Derivative liabilities
Gross amounts of recognized liabilities	$	7,159		$	—
Gross amounts offset in the statement of financial position	(1,006		)	—
Net amounts of liabilities presented in the statement of financial position	6,153			—
Gross amounts of financial instruments not offset in the statement of financial position	—			—
Net amount	$	6,153		$	—

Schedule of offsetting of derivative assets in the condensed consolidated balance sheet

Offsetting of Derivative Assets and Liabilities in the Condensed Consolidated Balance Sheet

(In thousands)	September 30, 2016			December 31, 2015
Derivative assets
Gross amounts of recognized assets	$	2,668		$	—
Gross amounts offset in the statement of financial position	(1,006		)	—
Net amounts of assets presented in the statement of financial position	1,662			—
Gross amounts of financial instruments not offset in the statement of financial position	—			—
Net amount	$	1,662		$	—
Derivative liabilities
Gross amounts of recognized liabilities	$	7,159		$	—
Gross amounts offset in the statement of financial position	(1,006		)	—
Net amounts of liabilities presented in the statement of financial position	6,153			—
Gross amounts of financial instruments not offset in the statement of financial position	—			—
Net amount	$	6,153		$	—

Effect of derivatives on the condensed consolidated statement of operations

Effect of Derivative Instruments on the Condensed Consolidated Statement of Operations

	Three Months Ended   September 30,						Nine Months Ended   September 30,
(In thousands)	2016			2015			2016			2015
Cash received (paid) on settlement of derivative instruments
Gain (loss) on derivative instruments	$	(8,101	)	$	45,097		$	3,204		$	133,827
Non-cash gain (loss) on derivative instruments
Gain (loss) on derivative instruments	15,005			(27,733		)	(4,490		)	(89,159		)
	$	6,904		$	17,364		$	(1,286	)	$	44,668