Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Oil and gas contracts

As of September 30, 2016, the Company had entered into the following commodity derivative instrument:

Production Period	Instrument Type	Daily Volumes	Weighted Average Price
Natural Gas:
October 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 September 30, 2016 and December 31, 2015:

	Commodity Derivatives
Period	Balance Sheet Location	Fair Value
September 30, 2016	Derivative liability	$	(228	)
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 September 30, 2016 and 2015:

Instrument	Amount of Gain Recognized in Other Comprehensive Income		Location of Gain (Loss) Reclassified into Income	Amount of Gain (Loss) Reclassified into Income
Commodity Derivatives at September 30, 2016	$	101	Oil and gas sales	$	(144	)
Commodity Derivatives at September 30, 2015	$	4,077	Oil and gas sales	$	4,093

Effect of Cash Flow Hedges on the Consolidated Statement of Operations for the nine months ended September 30, 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 September 30, 2016	$	307	Oil and gas sales	$	2,043
Commodity Derivatives at September 30, 2015	$	7,523	Oil and gas sales	$	10,494