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Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Oil and gas contracts
As of March 31, 2014, the Company had entered into the following oil and gas contracts:
Production Period
Instrument
Type
 
Daily Volumes
 
Weighted
Average Price
Natural Gas:

 
 
 
 
April - December 2014
Swap
 
45,000 Mmbtu
 
$4.14
Crude Oil:

 

 
 
April - June 2014
Swap (LLS)
 
450 Bbls
 
$100.58
April - December 2014
Swap (LLS)
 
400 Bbls
 
$101.15
April - December 2014
Swap (WTI)
 
350 Bbls
 
$93.26
Effect of Cash Flow Hedges on the Consolidated Balance Sheet
Effect of Cash Flow Hedges on the Consolidated Balance Sheet at March 31, 2014 and December 31, 2013:    
 
Commodity Derivatives
Period
Balance Sheet
Location
Fair Value
March 31, 2014
Derivative asset
$
27

March 31, 2014
Derivative liability
$
(4,541
)
December 31, 2013
Derivative asset
$
521

December 31, 2013
Derivative liability
$
(1,617
)
Effect of Cash Flow Hedges on the Consolidated Statement of Operations
Effect of Cash Flow Hedges on the Consolidated Statement of Operations for the three months ended March 31, 2014 and 2013:
Instrument
Amount of Loss
Recognized in Other
Comprehensive Income
 
Location of
Gain (Loss) Reclassified
into Income
 
Amount of Gain (Loss) Reclassified into
Income
Commodity Derivatives at March 31, 2014
$
(6,821
)
 
Oil and gas sales
 
$
(3,403
)
Commodity Derivatives at March 31, 2013
$
(3,523
)
 
Oil and gas sales
 
$
387
Effect of Non-designated Derivative Instruments
Effect of Non-designated Derivative Instruments on the Consolidated Statement of Operations for the three months ended March 31, 2014 and 2013:
Instrument
Amount of Unrealized Loss
Recognized in Derivative
Expense
Commodity Derivatives at March 31, 2014
$
—

Commodity Derivatives at March 31, 2013
$
(437
)