Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Commodity Derivative Instruments

As of September 30, 2016, the Company had the following open crude oil derivative positions:

	Price Swaps
Period	Commodity	Volume (Bbls)		Weighted Average Price ($/Bbl)
Q4 2016	Crude Oil		135,000	$	49.35
Q1 - Q4 2017	Crude Oil		420,000	$	48.86
Q1 - Q4 2018	Crude Oil		270,000	$	50.70

As of September 30, 2016, the Company had the following open natural gas derivative positions:

	Price Swaps
Period	Commodity	Volume (MMBtu)		Weighted Average Price ($/MMBtu)
Q4 2016	Natural Gas		300,000	$	2.604
Q1 - Q4 2017	Natural Gas		1,560,000	$	2.946
Q1 - Q4 2018	Natural Gas		600,000	$	2.907

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 Condensed Consolidated Balance Sheets as well as the gross recognized derivative assets, liabilities, and amounts offset in the Condensed Consolidated Balance Sheets (in thousands):

		September 30, 2016									December 31, 2015
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	$	484		$	(299	)	$	185		$	3,694	$	—	$	3,694
Commodity contracts	Current derivative liabilities	$	(1,536	)	$	299		$	(1,237	)	$	—	$	—	$	—
Commodity contracts	Noncurrent derivative liabilities	$	(1,101	)	$	—		$	(1,101	)	$	—	$	—	$	—

Realized and Unrealized Gains and Losses from Commodity Derivative Instruments

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

		Three Months Ended September 30,				Nine Months Ended September 30,
Derivatives not designated as hedging contracts under ASC Topic 815	Statement of Operations Location	2016		2015		2016			2015
Unrealized gain (loss) on commodity contracts	Gain (loss) on derivative contracts, net	$	413	$	3,425	$	(5,847	)	$	344
Realized gain on commodity contracts	Gain (loss) on derivative contracts, net	$	533	$	1,741	$	3,330		$	4,178
		$	946	$	5,166	$	(2,517	)	$	4,522