Derivative And Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Derivative And Financial Instruments

Summary Of Derivative Contracts In Place

Fixed Price Basis Swaps–West Texas Intermediate (WTI)

	For the Quarter Ended September 30, 2016 (volume in Bbls)
	March 31,			June 30,			September 30,			December 31,			Total
		Average			Average			Average			Average			Average
	Volume	Price		Volume	Price		Volume	Price		Volume	Price		Volume	Price
2016							—		—	49,802	$	48.25	49,802	$	48.25
2017	57,953	$	68.06	54,554	$	68.06	51,570	$	68.06	48,926	$	68.06	213,003	$	68.06
2018	56,798	$	65.40	54,197	$	65.40	51,851	$	65.40	49,709	$	65.40	212,555	$	65.40
2019	52,760	$	65.65	50,784	$	65.65	48,960	$	65.65	47,264	$	65.65	199,768	$	65.65
													675,128

Fixed Price Swaps—NYMEX (Henry Hub)

	For the Quarter Ended September 30, 2016 (volume in Mcfs)
	March 31,			June 30,			September 30,			December 31,			Total
		Average			Average			Average			Average			Average
	Volume	Price		Volume	Price		Volume	Price		Volume	Price		Volume	Price
2016							—			505,199	$	3.77	505,199	$	3.77
2017	271,507	$	5.72	255,669	$	5.72	241,748	$	5.72	229,122	$	5.72	998,046	$	5.72
2018	79,042	$	3.58	75,404	$	3.58	72,115	$	3.58	69,122	$	3.58	295,683	$	3.58
2019	73,432	$	3.62	70,648	$	3.62	68,088	$	3.62	65,720	$	3.62	277,888	$	3.62
													2,076,816

Schedule Of Change In Commodity Derivatives Fair Value

	September 30,		December 31,
	2016		2015
Beginning fair value of commodity derivatives	$	31,018	$	22,829
Net gains (losses) on crude oil derivatives		(4,601)		22,410
Net gains on natural gas derivatives		1,937		6,148
Net settlements on derivative contracts:
Crude oil		(13,673)		(13,191)
Natural gas		(6,514)		(7,178)
Net premiums on derivative contracts		3,197		—
Ending fair value of commodity derivatives	$	11,364	$	31,018

Schedule Of Effect Of Derivative Instruments On Consolidated Statements Of Operations

		Amount of Gain (Loss) in Income
	Location of Gain	Three Months Ended  September 30,				Nine Months Ended  September 30,
Derivative Type	in Income	2016		2015		2016		2015
Commodity – Mark-to-Market	Oil sales	$	(1,033)	$	14,970	$	(4,600)	$	12,058
Commodity – Mark-to-Market	Natural gas sales		2,104		2,352		1,936		4,200
		$	1,071	$	17,322	$	(2,664)	$	16,258

Reconciliation Of Changes In Fair Value Of Embedded Derivative

The following table sets forth a reconciliation of the changes in fair value of the Partnership’s embedded derivative for the quarters ended September 30, 2016 and the year ended December 31, 2015 (in thousands):

	September 30,		December 31,
	2016		2015
Beginning fair value of embedded derivative	$	(193,077)	$	—
Initial fair value of embedded derivative - bifurcated from mezzanine equity		—		(183,095)
Gain (loss) on embedded derivative		43,204		(9,982)
Ending fair value of embedded derivative	$	(149,873)	$	(193,077)