Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Oil and gas contracts

As of March 31, 2016, the Company had entered into the following commodity derivative instruments:

Production Period	Instrument Type	Daily Volumes	Weighted Average Price
Natural Gas:
April 2016 - June 2016	Swap	10,000 Mmbtu	$3.22
July 2016 - December 2016	Swap	5,000 Mmbtu	$2.50

Effect of Cash Flow Hedges on the Consolidated Balance Sheet

Effect of Cash Flow Hedges on the Consolidated Balance Sheet at March 31, 2016 and December 31, 2015:

	Commodity Derivatives
Period	Balance Sheet Location	Fair Value
March 31, 2016	Derivative asset	$	1,277
December 31, 2015	Derivative asset	$	1,508

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, 2016 and 2015:

Instrument	Amount of Gain Recognized in Other Comprehensive Income		Location of Gain Reclassified into Income	Amount of Gain Reclassified into Income
Commodity Derivatives at March 31, 2016	$	801	Oil and gas sales	$	1,032
Commodity Derivatives at March 31, 2015	$	4,917	Oil and gas sales	$	2,372