Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2017 and December 31, 2016, for each fair value hierarchy level:

	Fair Value Measurements Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total
March 31, 2017 (unaudited)	(In thousands)
Assets:
Commodity derivatives	$	—	$	4,995		$	—		$	4,995
Liabilities:
Commodity derivatives		—		(145	)		—			(145	)
Equity warrant liability		—		—			(788	)		(788	)
Equity warrant liability - related parties		—		—			(1,501	)		(1,501	)
Stock appreciation rights		—		—			(55	)		(55	)
Total	$	—	$	4,850		$	(2,344	)	$	2,506
December 31, 2016	(In thousands)
Assets:
Commodity derivatives	$	—	$	1,730		$	—		$	1,730
Liabilities:
Commodity derivatives		—		(4,110	)		—			(4,110	)
Equity warrant liability		—		—			(1,565	)		(1,565	)
Equity warrant liability - related parties		—		—			(2,994	)		(2,994	)
Total	$	—	$	(2,380	)	$	(4,559	)	$	(6,939	)

Summary of Changes in Fair Value for the Level 3 Liabilities

The table below sets forth a summary of changes in the fair value of the Company’s Level 3 liabilities for the quarter ended March 31, 2017, in thousands.

	Equity Warrant Liability			Stock Appreciation Rights			Total
	(unaudited)
Balance, beginning of the quarter ended March 31, 2017	$	(4,559	)	$	—		$	(4,559	)
Purchases, sales, issuances and settlements (net)		—			(72	)		(72	)
Realized gains/(losses)		—			—			—
Unrealized gains/(losses)		2,270			17			2,287
Balance, end of quarter ended March 31, 2017	$	(2,289	)	$	(55	)	$	(2,344	)