Debt	9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Note 7. Debt Credit Facility In December 2014, the Company entered into a credit agreement providing for a $500.0 million four-year senior secured revolving credit facility. At September 30, 2016, the borrowing base under the credit agreement was $75.0 million and is subject to redetermination during May and November of each year. As of September 30, 2016, outstanding borrowings under the credit agreement bear interest at a rate elected by the Company that is equal to a base rate (which is equal to the greater of the prime rate, the Federal Funds effective rate plus 0.50%, and 1-month LIBOR plus 1.00%) or LIBOR, in each case plus the applicable margin. The applicable margin ranges from 1.25% to 2.25% for base rate loans and from 2.25% to 3.25% for LIBOR loans, in each case depending on the amount of the loan outstanding in relation to the borrowing base. The Company is obligated to pay a quarterly commitment fee of 0.50% per year on the unused portion of the borrowing base, which fee is also dependent on the amount of the loan outstanding in relation to the borrowing base. The Company is also required to pay customary letter of credit fees. Principal amounts outstanding under the credit facility are due and payable in full at maturity on December 19, 2018. All of the obligations under the credit agreement, and the guarantees of those obligations, are secured by substantially all of the Company’s assets. As of September 30, 2016, the Company had a $75.0 million borrowing base, with $10.0 million of debt outstanding, (bearing an interest rate of 2.773%), $0.2 million of letters of credit outstanding, resulting in $64.8 million of borrowing base availability under its credit facility. The credit facility contains a number of customary covenants that, among other things, restrict, subject to certain exceptions, the Company’s ability to incur additional indebtedness, create liens on assets, pay dividends, and repurchase its capital stock. In addition, the Company is required to maintain certain financial ratios, including a minimum modified current ratio which includes the available borrowing base of 1.0 to 1.0 and a maximum annualized quarterly leverage ratio of 4.0 to 1.0. The Company is also required to submit an audited annual report 120 days after the end of each fiscal period. As of September 30, 2016 and December 31, 2015, the Company was in compliance with these covenants under the credit facility. Promissory Note In July 2016, the Company issued a $5.1 million unsecured promissory note to a drilling rig contractor in settlement of rig idle charges and the termination amount of the contract. These expenses from late January 2016 through June 2016 were recognized in the Company’s Condensed Consolidated Statement of Operations in the line item Rig idle and contract termination expense. The note amortizes over a three-year period maturing in July 2019, with an annualized interest rate of 8.0% for the first 12 months, 10.0% for the subsequent 12 months, and 12.0% for the last 12 months, with no prepayment penalty. Interest expense will be recognized using the effective interest method of approximately 9.1% over the life of the note. As of September 30, 2016, the Company has $4.7 million outstanding under the note with $1.6 million included in the current portion of long-term debt. Interest expense for the three and nine months ended September 30, 2016, includes amortization of deferred financing costs of $78,000 and $0.2, million, respectively. Interest expense for the three and nine months ended September 30, 2015, includes amortization of deferred financing costs of $65,000 and $0.2, million, respectively. As of September 30, 2016 and December 31, 2015, $0.7 million and $0.8 million, respectively, of costs, net of amortization, associated with the credit facility have been capitalized. These costs are included in Other noncurrent assets on the Company’s Condensed Consolidated Balance Sheets. The Company’s policy is to capitalize the financing costs associated with the credit agreement and amortize those costs on a straight-line basis over the term of the credit agreement.

Note 7. Debt

Credit Facility

In December 2014, the Company entered into a credit agreement providing for a $500.0 million four-year senior secured revolving credit facility. At September 30, 2016, the borrowing base under the credit agreement was $75.0 million and is subject to redetermination during May and November of each year. As of September 30, 2016, outstanding borrowings under the credit agreement bear interest at a rate elected by the Company that is equal to a base rate (which is equal to the greater of the prime rate, the Federal Funds effective rate plus 0.50%, and 1-month LIBOR plus 1.00%) or LIBOR, in each case plus the applicable margin. The applicable margin ranges from 1.25% to 2.25% for base rate loans and from 2.25% to 3.25% for LIBOR loans, in each case depending on the amount of the loan outstanding in relation to the borrowing base. The Company is obligated to pay a quarterly commitment fee of 0.50% per year on the unused portion of the borrowing base, which fee is also dependent on the amount of the loan outstanding in relation to the borrowing base. The Company is also required to pay customary letter of credit fees. Principal amounts outstanding under the credit facility are due and payable in full at maturity on December 19, 2018. All of the obligations under the credit agreement, and the guarantees of those obligations, are secured by substantially all of the Company’s assets.

As of September 30, 2016, the Company had a $75.0 million borrowing base, with $10.0 million of debt outstanding, (bearing an interest rate of 2.773%), $0.2 million of letters of credit outstanding, resulting in $64.8 million of borrowing base availability under its credit facility.

The credit facility contains a number of customary covenants that, among other things, restrict, subject to certain exceptions, the Company’s ability to incur additional indebtedness, create liens on assets, pay dividends, and repurchase its capital stock. In addition, the Company is required to maintain certain financial ratios, including a minimum modified current ratio which includes the available borrowing base of 1.0 to 1.0 and a maximum annualized quarterly leverage ratio of 4.0 to 1.0. The Company is also required to submit an audited annual report 120 days after the end of each fiscal period. As of September 30, 2016 and December 31, 2015, the Company was in compliance with these covenants under the credit facility.

Promissory Note

In July 2016, the Company issued a $5.1 million unsecured promissory note to a drilling rig contractor in settlement of rig idle charges and the termination amount of the contract. These expenses from late January 2016 through June 2016 were recognized in the Company’s Condensed Consolidated Statement of Operations in the line item Rig idle and contract termination expense. The note amortizes over a three-year period maturing in July 2019, with an annualized interest rate of 8.0% for the first 12 months, 10.0% for the subsequent 12 months, and 12.0% for the last 12 months, with no prepayment penalty. Interest expense will be recognized using the effective interest method of approximately 9.1% over the life of the note. As of September 30, 2016, the Company has $4.7 million outstanding under the note with $1.6 million included in the current portion of long-term debt.

Interest expense for the three and nine months ended September 30, 2016, includes amortization of deferred financing costs of $78,000 and $0.2, million, respectively. Interest expense for the three and nine months ended September 30, 2015, includes amortization of deferred financing costs of $65,000 and $0.2, million, respectively. As of September 30, 2016 and December 31, 2015, $0.7 million and $0.8 million, respectively, of costs, net of amortization, associated with the credit facility have been capitalized. These costs are included in Other noncurrent assets on the Company’s Condensed Consolidated Balance Sheets. The Company’s policy is to capitalize the financing costs associated with the credit agreement and amortize those costs on a straight-line basis over the term of the credit agreement.