Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Concentration of Risk

The fair value of derivative instruments where the Company is in a net asset position with its counterparties as of September 30, 2014 and December 31, 2013 totaled $36.0 million and $9.3 million, respectively, and is summarized by counterparty in the table below:

Counterparty	September 30, 2014		December 31, 2013
Wells Fargo	41	%	23	%
Credit Suisse	23	%	46	%
Societe Generale	22	%	31	%
Regions	8	%	—	%
Union Bank	4	%	—	%
Royal Bank of Canada	2	%	—	%
Total	100	%	100	%

Schedule of Derivative Instruments

The following sets forth a summary of the Company’s crude oil derivative positions at average NYMEX prices as of September 30, 2014:

Period	Type of Contract	Volumes (in Bbls/d)	Weighted Average Floor  Price ($/Bbl)		Weighted Average Ceiling  Price ($/Bbl)		Weighted Average Short Put  Price ($/Bbl)		Weighted Average Put Spread ($/Bbl)
October - December 2014	Fixed Price Swaps	11,500		$93.55
	Costless Collars	3,000		$88.33		$104.26
	Three-way Collars	500		$85.00		$107.75		$65.00		$20.00
January - December 2015	Fixed Price Swaps	10,370		$92.97
	Costless Collars	700		$90.00		$100.65
	Three-way Collars	1,000		$85.00		$105.00		$65.00		$20.00
January - December 2016	Fixed Price Swaps	3,000		$91.09
	Three-way Collars	667		$85.00		$104.00		$65.00		$20.00

The following sets forth a summary of the Company’s natural gas derivative positions at average NYMEX prices as of September 30, 2014:

Period	Type of Contract	Volumes (in MMBtu/d)	Weighted Average Floor Price ($/MMBtu)		Weighted Average Ceiling Price ($/MMBtu)
October - December 2014	Fixed Price Swaps	54,380		$4.16
	Calls	10,000				$5.50
January - December 2015	Fixed Price Swaps	30,000		$4.29