Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding commodity derivatives

As of March 31, 2017, 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	26.7	Bcf	Apr. 2017 - Dec. 2017								$	3.12
Natural gas	13.4	Bcf	Apr. 2017 - Dec. 2017								$	3.46
Natural gas	26.7	Bcf	Apr. 2017 - Dec. 2017	$	—	$	3.09	$3.42-$3.45	$	3.43
Natural gas	21.3	Bcf	Jan. 2018 - Dec. 2019										$	0.42
Crude oil	1.4	Mmbbl	Apr. 2017 - Dec. 2017	$	—	$	50.00	$56.25-$56.50	$	56.39

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	March 31, 2017		December 31, 2016		March 31, 2017		December 31, 2016
Commodity contracts	Other current assets	$	2,826	$	—	$	—	$	—
Commodity contracts	Other assets (non-current)	7,506		2,991		—		—
Commodity contracts	Derivative instruments (current)	—		—		12,692		40,259
		$	10,332	$	2,991	$	12,692	$	40,259

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)	March 31, 2017			December 31, 2016
Derivative assets
Gross amounts of recognized assets	$	12,354		$	2,991
Gross amounts offset in the statement of financial position	(2,022		)	—
Net amounts of assets presented in the statement of financial position	10,332			2,991
Gross amounts of financial instruments not offset in the statement of financial position	51			—
Net amount	$	10,383		$	2,991
Derivative liabilities
Gross amounts of recognized liabilities	$	14,714		$	40,259
Gross amounts offset in the statement of financial position	(2,022		)	—
Net amounts of liabilities presented in the statement of financial position	12,692			40,259
Gross amounts of financial instruments not offset in the statement of financial position	—			757
Net amount	$	12,692		$	41,016

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)	March 31, 2017			December 31, 2016
Derivative assets
Gross amounts of recognized assets	$	12,354		$	2,991
Gross amounts offset in the statement of financial position	(2,022		)	—
Net amounts of assets presented in the statement of financial position	10,332			2,991
Gross amounts of financial instruments not offset in the statement of financial position	51			—
Net amount	$	10,383		$	2,991
Derivative liabilities
Gross amounts of recognized liabilities	$	14,714		$	40,259
Gross amounts offset in the statement of financial position	(2,022		)	—
Net amounts of liabilities presented in the statement of financial position	12,692			40,259
Gross amounts of financial instruments not offset in the statement of financial position	—			757
Net amount	$	12,692		$	41,016

Effect of derivatives on the condensed consolidated statement of operations

Effect of Derivative Instruments on the Condensed Consolidated Statement of Operations

	Three Months Ended   March 31,
(In thousands)	2017			2016
Cash received (paid) on settlement of derivative instruments
Gain (loss) on derivative instruments	$	(1,524	)	$	—
Non-cash gain (loss) on derivative instruments
Gain (loss) on derivative instruments	34,908			18,994
	$	33,384		$	18,994