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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2013
Derivative Financial Instruments  
Schedule of notional amounts of derivative contracts

 As of December 31, 2013, the Partnership had the following outstanding commodity contracts that were executed to manage the cash flow risk associated with future sales of NGLs or future purchases of natural gas.

Derivative contracts not designated as hedging instruments
  Financial
Position
  Notional
Quantity (net)
 

Crude Oil (bbl)

  Short     1,323,905  

Natural Gas (MMBtu)

  Long     3,187,606  

NGLs (gal)

  Short     125,470,405  
Schedule reconciling liability recorded for an embedded derivative

See the following table for a reconciliation of the liability recorded for the embedded derivative as of December 31, 2013 (in thousands):

Fair value of commodity contract

  $ 91,815  

Inception value for period from April 1, 2015 to December 31, 2022. 

    (53,507 )
       

Derivative liability as of December 31, 2013

  $ 38,308  
       
       
Schedule of derivative contracts not designated as hedging instruments and their balance sheet location

The impact of the Partnership's derivative instruments on its Consolidated Balance Sheets is summarized below (in thousands):

 
  Assets   Liabilities  
Derivative contracts not designated as
hedging instruments and
their balance sheet location
  Fair Value at
December 31,
2013
  Fair Value at
December 31,
2012
  Fair Value at
December 31,
2013
  Fair Value at
December 31,
2012
 

Commodity contracts(1)

                         

Fair value of derivative instruments—current

  $ 11,457   $ 19,504   $ (28,838 ) $ (27,229 )

Fair value of derivative instruments—long-term

    505     10,878     (27,763 )   (32,190 )
                   

Total

  $ 11,962   $ 30,382   $ (56,601 ) $ (59,419 )
                   
                   

(1)
Includes Embedded Derivatives in Commodity Contracts as discussed above.

 The impact of the Partnership's derivative instruments on its Consolidated Statements of Operations is summarized below (in thousands):

 
  Year ended December 31,  
Derivative contracts not designated as hedging instruments and the location of
gain or (loss) recognized in income
  2013   2012   2011  

Revenue: Derivative (loss) gain

                   

Realized loss

  $ (3,534 ) $ (6,508 ) $ (48,093 )

Unrealized (loss) gain

    (21,104 )   63,043     19,058  
               

Total revenue: derivative (loss) gain

    (24,638 )   56,535     (29,035 )
               

Derivative gain (loss) related to purchased product costs

                   

Realized loss

    (6,634 )   (26,493 )   (27,711 )

Unrealized gain (loss)

    8,371     40,455     (25,249 )
               

Total derivative gain (loss) related to purchase product costs

    1,737     13,962     (52,960 )
               

Derivative (loss) gain related to facility expenses

                   

Unrealized (loss) gain

    (2,869 )   (1,371 )   6,480  
               

Total (loss) gain

  $ (25,770 ) $ 69,126   $ (75,515 )
               
               
Schedule of impact on the balance sheet if Partnership had elected to net derivative positions subject to master netting arrangements

The table below summarizes the impact if the Partnership had elected to net its derivative positions that are subject to master netting arrangements (in thousands):

 
  Assets   Liabilities  
As of December 31, 2013
  Gross
Amounts of
Assets in the
Consolidated
Balance
Sheet
  Gross
Amounts
Not Offset
in the
Consolidated
Balance
Sheet
  Net Amount   Gross
Amounts of
Liabilities
in the
Consolidated
Balance
Sheet
  Gross
Amounts
Not Offset
in the
Consolidated
Balance
Sheet
  Net Amount  

Current

                                     

Commodity contracts

  $ 8,181   $ (7,017 ) $ 1,164   $ (18,293 ) $ 7,017   $ (11,276 )

Embedded derivatives in commodity contracts

    3,276         3,276     (10,545 )       (10,545 )
                           

Total current derivative instruments

    11,457     (7,017 )   4,440     (28,838 )   7,017     (21,821 )
                           

Non-current

                                     

Commodity contracts

    505         505              

Embedded derivatives in commodity contracts

                (27,763 )       (27,763 )
                           

Total non-current derivative instruments

    505         505     (27,763 )       (27,763 )
                           

Total derivative instruments

  $ 11,962   $ (7,017 ) $ 4,945   $ (56,601 ) $ 7,017   $ (49,584 )
                           
                           

 

 
  Assets   Liabilities  
As of December 31, 2012
  Gross
Amounts of
Assets in the
Consolidated
Balance
Sheet
  Gross
Amounts
Not Offset
in the
Consolidated
Balance
Sheet
  Net Amount   Gross
Amounts of
Liabilities
in the
Consolidated
Balance
Sheet
  Gross
Amounts
Not Offset
in the
Consolidated
Balance
Sheet
  Net Amount  

Current

                                     

Commodity contracts

  $ 16,438   $ (9,541 ) $ 6,897   $ (16,679 ) $ 9,541   $ (7,138 )

Embedded derivatives in commodity contracts

    3,066         3,066     (10,550 )       (10,550 )
                           

Total current derivative instruments

    19,504     (9,541 )   9,963     (27,229 )   9,541     (17,688 )
                           

Non-current

                                     

Commodity contracts

    7,798     (2,637 )   5,161     (2,637 )   2,637      

Embedded derivatives in commodity contracts

    3,080         3,080     (29,553 )       (29,553 )
                           

Total non-current derivative instruments

    10,878     (2,637 )   8,241     (32,190 )   2,637     (29,553 )
                           

Total derivative instruments

  $ 30,382   $ (12,178 ) $ 18,204   $ (59,419 ) $ 12,178   $ (47,241 )