Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions at Subsequent Date [Text Block]

These updated contracts are reflected in the following table, which summarizes the approximate gas volumes and average contract prices of contracts the Company had in place as of February 17, 2016, including derivatives contracts for settlement anytime during the first quarter of 2016 and later periods:

Natural Gas Swaps

Contract Period	Volumes	Weighted- Average Contract Price		Purchased Volumes		Weighted- Average Contract Price		Total Volumes
	(MMBtu)	(per MMBtu)		(MMBtu)		(per MMBtu)		(MMBtu)
First quarter 2016	23,341,000	$	3.82	—		$	—	23,341,000
Second quarter 2016	20,780,000	$	3.40	—		$	—	20,780,000
Third quarter 2016	18,829,000	$	3.38	—		$	—	18,829,000
Fourth quarter 2016	17,236,000	$	3.82	—		$	—	17,236,000
2017	76,135,000	$	4.26	—		$	—	76,135,000
2018	30,606,000	$	4.27	(30,606,000	)	$	4.27	—
2019	24,415,000	$	4.34	(24,415,000	)	$	4.34	—
All gas swaps*	211,342,000			(55,021,000	)			156,321,000

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*Total volumes of natural gas swaps are comprised of IF El Paso Permian (2%), IF HSC (96%), IF NGPL TXOK (1%), and IF NNG Ventura (1%).

Schedule of Notional Amounts of Outstanding Derivative Positions

The following tables summarize the approximate volumes and average contract prices of contracts the Company had in place as of December 31, 2015:

Oil Swaps

Contract Period	NYMEX WTI Volumes	Weighted- Average Contract Price
	(Bbls)	(per Bbl)
First quarter 2016	1,868,000	$	86.93
Second quarter 2016	1,752,000	$	86.73
Third quarter 2016	1,170,000	$	90.29
Fourth quarter 2016	780,000	$	90.05
All oil swaps	5,570,000

Natural Gas Swaps

Contract Period	Volumes	Weighted- Average Contract Price
	(MMBtu)	(per MMBtu)
First quarter 2016	23,341,000	$	3.82
Second quarter 2016	20,780,000	$	3.40
Third quarter 2016	18,829,000	$	3.38
Fourth quarter 2016	17,236,000	$	3.82
2017	37,528,000	$	4.09
2018	30,606,000	$	4.27
2019	24,415,000	$	4.34
All gas swaps*	172,735,000

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*Natural gas swaps are comprised of IF El Paso Permian (2%), IF HSC (95%), IF NGPL TXOK (1%), and IF NNG Ventura (2%).

NGL Swaps

	OPIS Purity Ethane Mont Belvieu			OPIS Propane Mont Belvieu Non-TET			OPIS Normal Butane Mont Belvieu Non-TET			OPIS Isobutane Mont Belvieu Non-TET
Contract Period	Volumes	Weighted-Average  Contract Price		Volumes	Weighted-Average Contract Price		Volumes	Weighted-Average Contract Price		Volumes	Weighted-Average Contract Price
	(Bbls)	(per Bbl)		(Bbls)	(per Bbl)		(Bbls)	(per Bbl)		(Bbls)	(per Bbl)
First quarter 2016	926,000	$	8.29	1,059,000	$	19.60	143,000	$	25.62	122,000	$	25.87
Second quarter 2016	828,000	$	8.28	949,000	$	19.64	130,000	$	25.62	111,000	$	25.87
Third quarter 2016	751,000	$	8.70	862,000	$	19.03	—	$	—	—	$	—
Fourth quarter 2016	688,000	$	8.71	791,000	$	18.53	—	$	—	—	$	—
2017	2,271,000	$	9.16	—	$	—	—	$	—	—	$	—
2018	1,671,000	$	10.65	—	$	—	—	$	—	—	$	—
2019	1,200,000	$	10.92	—	$	—	—	$	—	—	$	—
2020	539,000	$	11.13	—	$	—	—	$	—	—	$	—
Total NGL swaps	8,874,000			3,661,000			273,000			233,000

Schedule of fair value of derivatives in accompanying balance sheets

The following tables detail the fair value of derivatives recorded in the accompanying balance sheets, by category:

	As of December 31, 2015
	Derivative Assets			Derivative Liabilities
	Balance Sheet  Classification	Fair Value		Balance Sheet  Classification	Fair Value
	(in thousands)
Commodity Contracts	Current assets	$	367,710	Current liabilities	$	8
Commodity Contracts	Noncurrent assets	120,701		Noncurrent liabilities	—
Derivatives not designated as hedging instruments		$	488,411		$	8

	As of December 31, 2014
	Derivative Assets			Derivative Liabilities
	Balance Sheet  Classification	Fair Value		Balance Sheet  Classification	Fair Value
	(in thousands)
Commodity Contracts	Current assets	$	402,668	Current liabilities	$	—
Commodity Contracts	Noncurrent assets	189,540		Noncurrent liabilities	70
Derivatives not designated as hedging instruments		$	592,208		$	70

Schedule of the potential effects of master netting arrangements

The following table provides a reconciliation between the gross assets and liabilities reflected on the accompanying balance sheets and the potential effects of master netting arrangements on the fair value of the Company’s derivative contracts:

	Derivative Assets						Derivative Liabilities
	As of December 31,						As of December 31,
Offsetting of Derivative Assets and Liabilities	2015			2014			2015			2014
	(in thousands)
Gross amounts presented in the accompanying balance sheets	$	488,411		$	592,208		$	(8	)	$	(70	)
Amounts not offset in the accompanying balance sheets	(8		)	(70		)	8			70
Net amounts	$	488,403		$	592,138		$	—		$	—

Schedule of gains and losses on derivative instruments in the statement of operations

The following table summarizes the components of derivative gain presented in the accompanying statements of operations:

	For the Years Ended December 31,
	2015			2014			2013
	(in thousands)
Derivative settlement (gain) loss:
Oil contracts	$	(362,219	)	$	(28,410	)	$	15,161
Gas contracts (1)	(123,180		)	26,706			(30,338		)
NGL contracts	(27,167		)	(10,911		)	(6,885		)
Total derivative settlement gain	$	(512,566	)	$	(12,615	)	$	(22,062	)
Total derivative (gain) loss:
Oil contracts	$	(191,165	)	$	(457,082	)	$	14,665
Gas contracts	(189,734		)	(93,267		)	(14,053		)
NGL contracts	(27,932		)	(32,915		)	(3,692		)
Total derivative gain	$	(408,831	)	$	(583,264	)	$	(3,080	)

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⁽¹⁾  Natural gas derivative settlements for the years ended December 31, 2015, and 2014, include $15.3 million and $5.6 million, respectively, of early settlements of futures contracts as a result of divesting assets in the Company’s Mid-Continent region.

Detail of the effect of derivative instruments reclassified from AOCI to the statement of operations (net of income tax)

The following table details the effect of derivative instruments on AOCL and the accompanying statements of operations (net of income tax):

		Location on Accompanying Statements of Operations	For the Years Ended December 31,
	Derivatives		2015		2014		2013
			(in thousands)
Amount reclassified fromAOCL	Commodity Contracts	Other operating revenues	$	—	$	—	$	1,115