Derivative Instruments

12 Months Ended

Dec. 31, 2014

Derivative Instruments [Abstract]

Derivative Instruments

Note 23 – Derivative Instruments

We had embedded derivatives related to debt and equity instruments outstanding at December 31, 2014 and 2013.  The fair market value of these derivative instruments is included in our balance sheet as follows:

	December 31,
	2014		2013
Derivatives not designated as hedges:
Embedded derivatives related to debt and equity instruments:
Other liabilities - long-term	$	—	$	(9,245)

Based on our filing under Chapter 11 of the Bankruptcy Codes as discussed in Note 1 – General and the related probable cancellation of the underlying debt and equity instruments, we wrote off the entire amount of the embedded derivatives recorded as of the Petition Date and recognized a gain of $6.2 million during the third quarter of 2014.

The effect of the derivatives not designated as hedges on our results of operations was as follows:

	Year Ended December 31,
	2014		2013		2012
Derivatives not designated as hedges:
Oil and gas commodity derivatives:
Unrealized losses	$	(7)	$	—	$	(3,524)
Realized losses		(175)		—		—
Embedded derivatives related to debt and equity instruments:
Unrealized gains (losses)	$	10,825	$	(1,843)	$	8,665