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Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Oil and gas contracts
As of June 30, 2016, the Company had entered into the following commodity derivative instrument:
Production Period
Instrument
Type
 
Daily Volumes
 
Weighted
Average Price
Natural Gas:
 
 
 
 
 
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 June 30, 2016 and December 31, 2015:    
 
Commodity Derivatives
Period
Balance Sheet
Location
Fair Value
June 30, 2016
Derivative liability
$
(473
)
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 June 30, 2016 and 2015:
Instrument
Amount of Loss
Recognized in Other
Comprehensive Income
 
Location of
Gain Reclassified
into Income
 
Amount of Gain Reclassified into
Income
Commodity Derivatives at June 30, 2016
$
(595
)
 
Oil and gas sales
 
$
1,155

Commodity Derivatives at June 30, 2015
$
(1,471
)
 
Oil and gas sales
 
$
4,029