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Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Oil and gas contracts
As of September 30, 2014, the Company had entered into the following commodity derivative instruments:
Production Period
Instrument
Type
 
Daily Volumes
 
Weighted
Average Price
Natural Gas:
 
 
 
 
 
October - December 2014
Swap
 
45,000 Mmbtu
 
$4.14
2015
Swap
 
10,000 Mmbtu
 
$4.16
Crude Oil:
 
 
 
 
 
October - December 2014
Swap (LLS)
 
650 Bbls
 
$101.05
October - December 2014
Swap (WTI)
 
350 Bbls
 
$93.26
Pentane:

 
 
 
 
October - December 2014
Swap
 
100 Bbls
 
$91.58
Effect of Cash Flow Hedges on the Consolidated Balance Sheet
Effect of Cash Flow Hedges on the Consolidated Balance Sheet at September 30, 2014 and December 31, 2013:    
 
Commodity Derivatives
Period
Balance Sheet
Location
Fair Value
September 30, 2014
Derivative asset
$
1,519

September 30, 2014
Derivative liability
$
(120
)
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 September 30, 2014 and 2013:
Instrument
Amount of Gain Recognized in Other
Comprehensive Income
 
Location of
Gain Reclassified
into Income
 
Amount of Gain Reclassified into
Income
Commodity Derivatives at September 30, 2014
$
5,293

 
Oil and gas sales
 
$
240

Commodity Derivatives at September 30, 2013
$
110

 
Oil and gas sales
 
$
234


Effect of Cash Flow Hedges on the Consolidated Statement of Operations for the nine months ended September 30, 2014 and 2013 :
Instrument
Amount of Gain (Loss) Recognized in Other
Comprehensive Income
 
Location of
Loss Reclassified
into Income
 
Amount of Loss
Reclassified into
Income
Commodity Derivatives at September 30, 2014
$
(3,510
)
 
Oil and gas sales
 
$
(6,005
)
Commodity Derivatives at September 30, 2013
$
1,047

 
Oil and gas sales
 
$
(257
)
Effect of Non-designated Derivative Instruments
Effect of Non-designated Derivative Instruments on the Consolidated Statement of Operations for the three months ended September 30, 2014 and 2013:
Instrument
Amount of Gain Recognized in Derivative
Income
Commodity Derivatives at September 30, 2014
$
—

Commodity Derivatives at September 30, 2013
$
45


Effect of Non-designated Derivative Instruments on the Consolidated Statement of Operations for the nine months ended September 30, 2014 and 2013:
Instrument
Amount of Gain
Recognized in Derivative
Income
Commodity Derivatives at September 30, 2014
$
—

Commodity Derivatives at September 30, 2013
$
202