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Fair value measurements (Tables)
 3 Months Ended
Mar. 31, 2014
Fair Value Disclosures [Abstract]  
Fair value hierarchy for financial instruments measured at fair value on a recurring basis
The fair value hierarchy for our financial assets and liabilities is shown by the following table: 
 
As of March 31, 2014
 
As of December 31, 2013
 
Derivative
assets
 
Derivative
liabilities
 
Net assets
(liabilities)
 
Derivative
assets
 
Derivative
liabilities
 
Net assets
(liabilities)
Significant other observable inputs (Level 2)
$
736

 
$
(11,091
)
 
$
(10,355
)
 
$
3,275

 
$
(6,576
)
 
$
(3,301
)
Significant unobservable inputs (Level 3)
2,364

 
(12,132
)
 
(9,768
)
 
9,838

 
(6,216
)
 
3,622

Netting adjustments (1)
(253
)
 
253

 
—

 
(4,558
)
 
4,558

 
—

 
$
2,847

 
$
(22,970
)
 
$
(20,123
)
 
$
8,555

 
$
(8,234
)
 
$
321

___________
(1)
Amounts represent the impact of master netting agreements that allow us to net settle positive and negative positions with the same counterparty.
Level 3 rollforward
Changes in the fair value of our derivative instruments classified as Level 3 in the fair value hierarchy during the three months ended March 31, 2014 and 2013 were: 
 
 
Three months ended March 31,
Net derivative assets (liabilities)
 
2014
 
2013
Beginning balance
 
$
3,622

 
$
26,231

Realized and unrealized losses included in non-hedge derivative losses
 
(15,423
)
 
(523
)
Settlements paid (received)
 
2,033

 
(5,731
)
Ending balance
 
$
(9,768
)
 
$
19,977

(Losses) gains relating to instruments still held at the reporting date included in non-hedge derivative (losses) gains for the period
 
$
(15,324
)
 
$
1,393
Fair value of other financial instruments
The carrying value and estimated fair value of our long-term debt at March 31, 2014 and December 31, 2013 were as follows: 
 
 
March 31, 2014
 
December 31, 2013
Level 2
 
Carrying
value
 
Estimated
fair value
 
Carrying
value
 
Estimated
fair value
9.875% Senior Notes due 2020
 
$
294,695

 
$
342,750

 
$
294,556

 
$
340,140

8.25% Senior Notes due 2021
 
400,000

 
437,872

 
400,000

 
437,000

7.625% Senior Notes due 2022
 
555,501

 
598,125

 
555,719

 
583,275

Senior secured revolving credit facility
 
319,000

 
319,000

 
272,000

 
272,000

Other secured long-term debt
 
16,259

 
16,259

 
16,437

 
16,437

 
 
$
1,585,455

 
$
1,714,006

 
$
1,538,712

 
$
1,648,852
Offsetting Assets and Liabilities
The following table summarizes our derivative assets and liabilities which are offset in the consolidated balance sheets under our master netting agreements. It also reflects the amounts outstanding under our senior secured revolving credit facility that are available to offset our net derivative assets due from counterparties that are lenders under our senior secured revolving credit facility.
 
 
Offset in the consolidated balance sheets
 
Gross amounts not offset in the consolidated balance sheets
 
 
Gross assets (liabilities)
 
Offsetting assets (liabilities)
 
Net assets (liabilities)
 
Amounts outstanding under senior secured revolving credit facility
 
Net amount
As of March 31, 2014
 
 
 
 
 
 
 
 
 
 
Derivative assets
 
$
3,100

 
$
(3,100
)
 
$
—

 
$
—

 
$
—

Derivative liabilities
 
(23,223
)
 
3,100

 
(20,123
)
 
—

 
(20,123
)
 
 
$
(20,123
)
 
$
—

 
$
(20,123
)
 
$
—

 
$
(20,123
)
As of December 31, 2013
 
 
 
 
 
 
 
 
 
 
Derivative assets
 
$
13,113

 
$
(8,042
)
 
$
5,071

 
$
(4,211
)
 
$
860

Derivative liabilities
 
(12,792
)
 
8,042

 
(4,750
)
 
—

 
(4,750
)
 
 
$
321

 
$
—

 
$
321

 
$
(4,211
)
 
$
(3,890
)