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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2016
Derivative Instruments Not Designated as Hedging Instruments [Abstract]  
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table presents the balance sheet location and fair value amounts of our derivative instruments on the condensed consolidated balance sheets:
 
 
 
 
 
Fair Value
Derivative instruments:
 
Condensed Consolidated Balance sheet line item
 
September 30, 2016
 
December 31, 2015
 
 
 
 
 
(in thousands)
Derivative assets:
Current
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
$
65,191

 
$
221,161

 
Related to natural gas marketing
 
Fair value of derivatives
 
270

 
441

 
Basis protection contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
143

 
57

 
 
 
 
 
65,604

 
221,659

 
Non-current
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
8,122

 
44,292

 
Related to natural gas marketing
 
Fair value of derivatives
 
20

 
51

 
Basis protection contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
281

 
44

 
 
 
 
 
8,423

 
44,387

Total derivative assets
 
 
 
 
$
74,027

 
$
266,046

 
 
 
 
 
 
 
 
Derivative liabilities:
Current
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
$
21,639

 
$
—

 
Related to natural gas marketing
 
Fair value of derivatives
 
221

 
417

 
Basis protection contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
703

 
1,178

 
 
 
 
 
22,563

 
1,595

 
Non-current
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
17,698

 
275

 
Related to natural gas marketing
 
Fair value of derivatives
 
9

 
46

 
Basis protection contracts
 
 
 
 
 
 
 
Related to crude oil and natural gas sales
 
Fair value of derivatives
 
178

 
374

 
 
 
 
 
17,885

 
695

Total derivative liabilities
 
 
 
 
$
40,448

 
$
2,290



    
The following table presents the impact of our derivative instruments on our condensed consolidated statements of operations:

 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Condensed consolidated statement of operations line item
 
2016
 
2015
 
2016
 
2015
 
 
(in thousands)
Commodity price risk management gain (loss), net
 
 
 
 
 
 
 
 
Net settlements
 
$
47,728

 
$
67,993

 
$
167,859

 
$
162,454

Net change in fair value of unsettled derivatives
 
(28,331
)
 
55,556

 
(230,207
)
 
(21,284
)
Total commodity price risk management gain (loss), net
 
$
19,397

 
$
123,549

 
$
(62,348
)
 
$
141,170

Sales from natural gas marketing
 
 
 
 
 
 
 
 
Net settlements
 
$
122

 
$
165

 
$
420

 
$
561

Net change in fair value of unsettled derivatives
 
255

 
(5
)
 
(263
)
 
(298
)
Total sales from natural gas marketing
 
$
377

 
$
160

 
$
157

 
$
263

Cost of natural gas marketing
 
 
 
 
 
 
 
 
Net settlements
 
$
(103
)
 
$
(157
)
 
$
(380
)
 
$
(531
)
Net change in fair value of unsettled derivatives
 
(277
)
 
(5
)
 
293

 
260

Total cost of natural gas marketing
 
$
(380
)
 
$
(162
)
 
$
(87
)
 
$
(271
)
 
 
 
 
 
 
 
 
 

All of our financial derivative agreements contain master netting provisions that provide for the net settlement of all contracts through a single payment in the event of early termination. Our fixed-price physical purchase and sale agreements that qualify as derivative contracts are not subject to master netting provisions and are not significant. We have elected not to offset the fair value positions recorded on our condensed consolidated balance sheets.

The following table reflects the impact of netting agreements on gross derivative assets and liabilities:
As of September 30, 2016
 
Derivative instruments, recorded in condensed consolidated balance sheet, gross
 
Effect of master netting agreements
 
Derivative instruments, net
 
 
(in thousands)
Asset derivatives:
 
 
 
 
 
 
Derivative instruments, at fair value
 
$
74,027

 
$
(22,520
)
 
$
51,507

 
 
 
 
 
 
 
Liability derivatives:
 
 
 
 
 
 
Derivative instruments, at fair value
 
$
40,448

 
$
(22,520
)
 
$
17,928

 
 
 
 
 
 
 

As of December 31, 2015
 
Derivative instruments, recorded in condensed consolidated balance sheet, gross
 
Effect of master netting agreements
 
Derivative instruments, net
 
 
(in thousands)
Asset derivatives:
 
 
 
 
 
 
Derivative instruments, at fair value
 
$
266,046

 
$
(1,921
)
 
$
264,125

 
 
 
 
 
 
 
Liability derivatives:
 
 
 
 
 
 
Derivative instruments, at fair value
 
$
2,290

 
$
(1,921
)
 
$
369