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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding derivative instruments
The following table summarizes our crude oil derivatives outstanding as of December 31, 2013: 
 
 
 
 
Weighted average fixed price per Bbl
Period and type of contract
 
Volume
MBbls
 
Swaps
 
Sold puts
 
Purchased puts
 
Sold calls
2014
 
 
 
 
 
 
 
 
 
 
Swaps
 
961

 
$
93.50

 
$
—

 
$
—

 
$
—

Three-way collars
 
2,400

 
$
—

 
$
75.50

 
$
93.25

 
$
101.94

Enhanced swaps
 
840

 
$
98.62

 
$
80.00

 
$
—

 
$
—

Put spread enhanced swaps
 
2,480

 
$
93.76

 
$
80.00

 
$
60.00

 
$
—

Purchased puts
 
840

 
$
—

 
$
—

 
$
60.00

 
$
—

2015
 
 
 
 
 
 
 
 
 
 
Enhanced swaps
 
5,578

 
$
93.14

 
$
80.00

 
$
—

 
$
—

The following tables summarize our natural gas derivative instruments outstanding as of December 31, 2013: 
Period and type of contract
 
Volume
BBtu
 
Weighted
average
fixed price
per MMBtu
2014
 
 
 
 
Natural gas swaps
 
21,100

 
$
4.03

Natural gas basis protection swaps
 
21,550

 
$
0.24

2015
 
 
 
 
Natural gas swaps
 
16,800

 
$
4.21

Natural gas basis protection swaps
 
2,400

 
$
0.18
Derivative instruments recorded on the balance sheet at fair value
The estimated fair values of derivative instruments are provided below. The carrying amounts of these instruments are equal to the estimated fair values. 
 
As of December 31, 2013
 
As of December 31, 2012
 
Assets
 
Liabilities
 
Net value
 
Assets
 
Liabilities
 
Net value
Natural gas swaps
$
1,457

 
$
(3,706
)
 
$
(2,249
)
 
$
13,642

 
$
(1,487
)
 
$
12,155

Oil swaps
112

 
(2,807
)
 
(2,695
)
 
4,957

 
(1,339
)
 
3,618

Oil collars
2,776

 
(4
)
 
2,772

 
27,411

 
(1,180
)
 
26,231

Oil enhanced swaps
6,988

 
(6,212
)
 
776

 
—

 
—

 
—

Oil purchased puts (1)
74

 
—

 
74

 
—

 
—

 
—

Natural gas basis differential swaps
1,706

 
(63
)
 
1,643

 
—

 
(1,599
)
 
(1,599
)
Total derivative instruments
13,113

 
(12,792
)
 
321

 
46,010

 
(5,605
)
 
40,405

Less:
 
 
 
 
 
 
 
 
 
 
 
Netting adjustments (2)
4,558

 
(4,558
)
 
—

 
2,977

 
(2,977
)
 
—

Current portion asset (liability)
2,152

 
(8,234
)
 
(6,082
)
 
42,516

 
(436
)
 
42,080

 
$
6,403

 
$
—

 
$
6,403

 
$
517

 
$
(2,192
)
 
$
(1,675
)
___________
(1)
Includes premiums of $664 paid during the second quarter of 2013. No additional premiums have been paid.
(2)
Amounts represent the impact of master netting agreements that allow us to net settle positive and negative positions with the same counterparty.
Derivative settlements outstanding
Derivative settlements outstanding were as follows at December 31: 
 
2013
 
2012
Derivative settlements receivable included in accounts receivable
$
4,616

 
$
8,013

Derivative settlements payable included in accounts payable and accrued liabilities
$
377

 
$
41
Non-hedge derivative gains (losses) in the consolidated statements of operations
Non-hedge derivative (losses) gains in the consolidated statements of operations are comprised of the following: 
 
 
2013
 
2012
 
2011
Change in fair value of commodity price swaps
 
$
(20,717
)
 
$
(8,440
)
 
$
50,004

Change in fair value of collars
 
(23,459
)
 
21,182

 
3,540

Change in fair value of enhanced swaps and put options
 
186

 
—

 
—

Change in fair value of natural gas basis differential contracts
 
3,242

 
(331
)
 
4,355

Receipts from (payments on) settlement of commodity price swaps
 
5,122

 
28,716

 
(16,801
)
Receipts from settlement of collars
 
14,548

 
10,229

 
1,250

Payments on settlement of natural gas basis differential contracts
 
(557
)
 
(1,671
)
 
(7,940
)
 
 
$
(21,635
)
 
$
49,685

 
$
34,408