Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Open Crude Oil and Natural Gas Derivative Contracts

The Company had the following open crude oil and natural gas derivative contracts as of March 31, 2017:

	Price Swaps
Period	Commodity	Volume (Bbls / MMBtu)		Weighted Average Price ($/Bbl / $/MMBtu)
Q2 - Q4 2017	Crude Oil		427,500	$	50.80
Q1 - Q4 2018	Crude Oil		270,000	$	50.70
Q2 - Q4 2017	Natural Gas		1,305,000	$	2.997
Q1 - Q4 2018	Natural Gas		600,000	$	2.907

Schedule of Location and Fair Value Amounts of All 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):

		March 31, 2017						December 31, 2016
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	Derivative asset - noncurrent	$	38	$	37	$	1	$	—	$	—	$	—
Commodity contracts	Derivative liability - current	$	1,256	$	457	$	799	$	4,595	$	—	$	4,595
Commodity contracts	Derivative liability - noncurrent	$	326	$	—	$	326	$	1,575	$	—	$	1,575

Summary of Realized and Unrealized Gains and Losses on 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 Condensed Consolidated Statements of Operations (in thousands):

		Three Months Ended March 31,
		2017			2016
Derivatives not designated as hedging contracts under ASC Topic 815	Statement of Operations Location
Total gain (loss) on commodity contracts	Gain on derivative contracts, net	$	5,046		$	(1,226	)
Cash (paid) received in settlements on commodity contracts	Gain on derivative contracts, net		(586	)		1,991
Gain on commodity contracts, net		$	4,460		$	765