Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Commodity Derivative Instruments

The Company had the following open crude oil and natural gas derivative contracts as of December 31, 2015:    

Period	Instrument	Commodity	Volume in Bbls		Fixed Price
January 2016 - March 2016	Swap	Crude Oil		15,000	$	57.00
January 2016 - June 2016	Swap	Crude Oil		60,000	$	58.00
January 2016 - December 2016	Swap	Crude Oil		60,000	$	60.80
January 2016 - December 2016	Swap	Crude Oil		60,000	$	60.80

In January 2016 and March 2016, the Company entered into the following commodity derivative contracts:

Period	Instrument	Commodity	Volume in MMBtu/Bbls		Fixed Price
February 2016 - December 2016	Swap	Natural Gas		770,000	$	2.53
January 2017 - December 2017	Swap	Natural Gas		480,000	$	2.785
April 2016 - March 2017	Swap	Crude Oil		120,000	$	42.30

Summary of Gross and Net Information about Commodity Derivative Instruments

The following table summarizes the location and fair value amounts of all derivative instruments in the Consolidated Balance Sheets as well as the gross recognized derivative assets, liabilities, and amounts offset in the Consolidated Balance Sheets (in thousands):

		December 31, 2015						December 31, 2014
Derivatives not designated as hedging contracts under ASC Topic 815	Balance Sheet Location	Gross Recognized Assets / Liabilities		Gross Amounts Offset		Net Recognized Assets / Liabilities		Gross Recognized Assets / Liabilities		Gross Amounts Offset		Net Recognized Assets / Liabilities
Commodity contracts	Current derivative assets	$	3,694	$	—	$	3,694	$	3,569	$	—	$	3,569

Realized and Unrealized Gains and Losses from Commodity Derivative Instruments

The follow table summarizes the location and amounts of the Company’s realized and unrealized gains and losses on derivatives instruments in the Company’s Consolidated Statements of Operations (in thousands):

		Years Ended December 31,
		2015		2014		2013
Derivatives not designated as hedging contracts under ASC Topic 815	Statement of Operations Location
Unrealized gain (loss) on commodity contracts	Net gain on derivative contracts	$	125	$	3,614	$	(45	)
Realized gain on commodity contracts	Net gain on derivative contracts	$	6,306	$	778	$	341
		$	6,431	$	4,392	$	296