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Fair Value Measurements on a Recurring Basis (Tables)
 12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Fair Value Measurements on a Recurring Basis
The following presents the fair value hierarchy for assets and liabilities measured at fair value on a recurring basis:
 
December 31, 2015
 
Level 2
 
Netting (1)
 
Total
 
(in thousands)
Assets:
 
 
 
 
 
Commodity derivatives
$
1,812,375

 
$
(25,744
)
 
$
1,786,631

Liabilities:
 
 
 
 
 
Commodity derivatives
$
28,842

 
$
(25,744
)
 
$
3,098


 
December 31, 2014
 
Level 2
 
Netting (1)
 
Total
 
(in thousands)
Assets:
 
 
 
 
 
Commodity derivatives
$
2,014,815

 
$
(89,576
)
 
$
1,925,239

Liabilities:
 
 
 
 
 
Commodity derivatives
$
90,260

 
$
(89,576
)
 
$
684

(1) 
Represents counterparty netting under agreements governing such derivatives.