Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2016

Commitments And Contingencies Disclosure [Abstract]

Future Minimum Lease Payments Required Under Lease Agreements

The following is a schedule by year, of the future minimum lease payments required under the lease agreements as of December 31, 2016 (in thousands).

2017	$	637
2018		637
2019		637
2020		690
2021		684
Thereafter		2,052
Total minimum lease payments	$	5,337

Other Commitments

(d) Other Commitments (in thousands)

	Drilling rig commitments⁽ⁱ⁾		Firm transportation⁽ⁱⁱ⁾		Gas processing, gathering, and compression services⁽ⁱⁱⁱ⁾		Total
Year Ending December 31:
2017	$	8,937	$	49,748	$	9,430	$	68,115
2018		—		118,316		15,919		134,235
2019		—		111,787		17,140		128,927
2020		—		109,593		7,721		117,314
2021		—		105,391		—		105,391
Thereafter		—		205,766		—		205,766
Total	$	8,937	$	700,601	$	50,210	$	759,748

(i)

Drilling rig commitments -The Company had contracts for the service of two rigs, which one expires in August 2017 with the option to extend and one expires in September 2017. The values in the table represent the gross amounts that the Company is committed to pay and does not deduct amounts that other parties are responsible for as a result of cost sharing arrangements with working interest partners. The Company will record in its consolidated financial statements the Company’s proportionate share of costs based on its working interest, as applicable.

(ii)

Firm transportation -The Company has entered into firm transportation agreements with various pipelines in order to facilitate the delivery of production to market. These contracts commit the Company to transport minimum daily natural gas or NGL volumes at a negotiated rate, or pay for any deficiencies at a specified reservation fee rate. The amounts in this table represent the minimum daily volumes at the reservation fee rate. The values in the table represent the gross amounts that the Company is committed to pay and does not deduct amounts that other parties are responsible for as a result of cost sharing arrangements with working interest partners. The Company will record in its consolidated financial statements the Company’s proportionate share of costs based on its working interest.

(iii)

Gas processing, gathering, and compression services -Contractual commitments for gas processing, gathering and compression service agreements represent minimum commitments under long-term gas processing agreements as well as various gas compression agreements. The values in the table represent the gross amounts that the Company is committed to pay and does not deduct amounts that other parties are responsible for as a result of cost sharing arrangements with working interest partners. The Company will record in its consolidated financial statements its proportionate share of costs based on the Company’s working interest.”