Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2015

Summary of Property and Equipment Including Oil and Natural Gas Properties

A summary of property and equipment including oil and natural gas properties is as follows (in thousands):

	September 30, 2015			December 31, 2014
Oil and natural gas properties:
Unproved	$	934,844		$	1,044,469
Proved		1,179,866			802,112
Gross oil and natural gas properties		2,114,710			1,846,581
Less accumulated depreciation, depletion and amortization		(300,016	)		(131,857	)
Oil and natural gas properties, net		1,814,694			1,714,724
Other property and equipment		11,391			8,912
Less accumulated depreciation		(3,010	)		(809	)
Other property and equipment, net		8,381			8,103
Property and equipment, net	$	1,823,075		$	1,722,827

Changes in Company's Asset Retirement Obligation Liability

The following table sets forth the changes in the Company’s ARO liability for the nine months ended September 30, 2015 (in thousands):

	Nine Months Ended September 30, 2015
Asset retirement obligations, beginning of period	$	17,400
Additional liabilities incurred		495
Accretion		1,197
Asset retirement obligations, end of period	$	19,092

Accounts Receivable [Member] | Product Concentration Risk [Member]

Concentration Risk

The following table summarizes concentration of receivables, net of allowances, by product or service as of September 30, 2015 and December 31, 2014 (in thousands):

	September 30, 2015		December 31, 2014
Receivables by product or service:
Sale of oil and natural gas and related products and services	$	14,861	$	22,777
Joint interest owners		5,455		20,666
Miscellaneous other		3,291		2,935
Total	$	23,607	$	46,378

Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member]

Concentration Risk

The following table sets forth the Company’s major customers and associated percentage of revenue for the periods indicated:

	For the three months ended September 30,						For the nine months ended September 30,
	2015			2014			2015			2014
Purchaser
Antero Resources Corporation		19	%		48	%		18	%		57	%
ARM Energy Management, LLC		10	%		26	%		12	%		20	%
Enlink Midstream Operating, L.P.		20	%		—			24	%		—
Tenaska Marketing Ventures		14	%		—			6	%		—
Sequent Energy Management, L.P.		22	%		—			20	%		—
Total		85	%		74	%		80	%		77	%