We have a long-term incentive program (the “Long-Term Incentive Program”) for employees, officers, consultants and directors of our general partner and its affiliates, including Mid-Con Energy Operating, LLC (“Mid-Con Energy Operating”) and ME3 Oilfield Service, LLC (“ME3 Oilfield Service”), who perform services for us. The Long-Term Incentive Program allows for the award of unit options, unit appreciation rights, unrestricted units, restricted units, phantom units, distribution equivalent rights granted with phantom units and other types of awards. The Long-Term Incentive Program is administered by Charles R. Olmstead, Executive Chairman of the Board, and Jeffrey R. Olmstead, President and Chief Executive Officer, and approved by the Board of Directors of our general partner (the “Board”). We account for unrestricted, restricted and equity-settled phantom unit awards as equity awards since they are settled by issuing common units. If an employee terminates employment prior to the restriction lapse date, the awarded units are forfeited and canceled and are no longer considered issued and outstanding.

On January 1, 2017, we adopted ASU 2016-09 Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”) and elected to recognize forfeitures of equity awards as they occur. The cumulative effect of adopting ASU 2016-09 was determined to be immaterial and no adjustment to retained earnings was made.

The following table shows the number of existing awards and awards available under the Long-Term Incentive Program at June 30, 2017:

	Number of Common Units
Approved and authorized awards		3,514,000
Unrestricted units granted		(1,212,706	)
Restricted units granted, net of forfeitures		(400,424	)
Equity-settled phantom units granted, net of forfeitures		(456,500	)
Awards available for future grant		1,444,370

We recognized approximately $0.1 million and $0.3 million of total equity-based compensation expense for the three and six months ended June 30, 2017, respectively, and we recognized approximately $0.3 million and $0.7 million of total equity-based compensation expense for the three and six months ended June 30, 2016, respectively. These costs are reported as a component of general and administrative expenses (“G&A”) in our unaudited condensed consolidated statements of operations.

Unrestricted Unit Awards

During the six months ended June 30, 2017, we granted 25,400 unrestricted units with an average grant date fair value of $2.65 per unit. During the six months ended June 30, 2016, we granted 70,000 unrestricted units with an average grant date fair value of $1.16 per unit.

Restricted Unit Awards

Restricted units vest over a two- or three-year period. As of June 30, 2017, there were approximately $0.04 million of unrecognized compensation costs related to non-vested restricted units. These costs are expected to be recognized over a weighted average period of approximately five months.

A summary of our restricted unit awards for the six months ended June 30, 2017, is presented below:

	Number of Restricted Units			Average Grant Date Fair Value per Unit
Outstanding at December 31, 2016		76,922		$	5.67
Units granted		—			—
Units vested		(66,030	)		4.96
Units forfeited		—			—
Outstanding at June 30, 2017		10,892		$	9.99

Equity-Settled Phantom Unit Awards

Equity-settled phantom units vest over a two- or three-year period and do not have any rights or privileges of a common unitholder, including right to distributions, until vesting and the resulting conversion into common units. During the six months ended June 30, 2017, we granted 9,000 equity-settled phantom units with a three-year vesting period. During the six months ended June 30, 2016, we granted 24,500 equity-settled phantom units with one-third vesting immediately and the other two-thirds vesting over two years. As of June 30, 2017, there were approximately $0.2 million of unrecognized compensation costs related to non-vested equity-settled phantom units. These costs are expected to be recognized over a weighted average period of approximately one year, three months.

A summary of our equity-settled phantom unit awards for the six months ended June 30, 2017, is presented below:

	Number of Equity- Settled Phantom Units			Average Grant Date Fair Value per Unit
Outstanding at December 31, 2016		287,659		$	1.64
Units granted		9,000			2.65
Units vested		(7,166	)		1.16
Units forfeited		(10,000	)		2.94
Outstanding at June 30, 2017		279,493		$	1.64