Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding commodity derivatives

As of June 30, 2015, the Company had the following outstanding commodity derivatives:

				Collars						Swaps
				Floor			Ceiling
Type of Contract	Volume		Contract Period	Range	Weighted-Average		Range	Weighted- Average		Weighted- Average
Natural gas	35.7	Bcf	Jul. 2015 - Dec. 2015	$3.86 - $3.91	$	3.87	$4.27 - $4.43	$	4.35
Natural gas	35.7	Bcf	Jul. 2015 - Dec. 2015							$	3.92
Natural gas	17.9	Bcf	Jul. 2015 - Oct. 2015							$	3.36

Effect of derivative instruments on the condensed consolidated balance sheet

Effect of Derivative Instruments on the Condensed Consolidated Balance Sheet

		Fair Values of Derivative Instruments
		Derivative Assets				Derivative Liabilities
(In thousands)	Balance Sheet Location	June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
Commodity contracts	Derivative instruments (current assets)	$	76,178	$	137,603	$	—	$	—

Schedule of offsetting of derivative assets and liabilities in the condensed consolidated balance sheet

Offsetting of Derivative Assets and Liabilities in the Condensed Consolidated Balance Sheet

(In thousands)	June 30, 2015		December 31, 2014
Derivative Assets
Gross amounts of recognized assets	$	76,178	$	137,603
Gross amounts offset in the statement of financial position	—		—
Net amounts of assets presented in the statement of financial position	76,178		137,603
Gross amounts of financial instruments not offset in the statement of financial position	—		2,338
Net amount	$	76,178	$	139,941

Amount of gain (loss) recognized in accumulated other comprehensive income (loss) on derivatives

The amount of gain (loss) recognized in accumulated other comprehensive income (loss) on derivatives (effective portion) is as follows:

	Three Months Ended   June 30,				Six Months Ended   June 30,
(In thousands)	2015		2014		2015		2014
Commodity contracts	$	—	$	—	$	—	$	(133,310	)

Amount of gain (loss) reclassified from accumulated other comprehensive income (loss)

The amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (effective portion) is as follows:

	Three Months Ended   June 30,					Six Months Ended   June 30,
(In thousands)	2015		2014			2015		2014
Natural gas revenues	$	—	$	(22,320	)	$	—	$	(92,877	)
Crude oil and condensate revenues	—		(636		)	—		(854		)
	$	—	$	(22,956	)	$	—	$	(93,731	)

Effect of derivatives on the condensed consolidated statement of operations

Effect of Derivative Instruments on the Condensed Consolidated Statement of Operations

	Three Months Ended   June 30,						Six Months Ended   June 30,
(In thousands)	2015			2014			2015			2014
Derivatives Designated as Hedges
Cash received (paid) on settlement of derivative instruments
Natural gas	$	—		$	—		$	—		$	(70,557	)
Crude oil and condensate	—			—			—			(218		)
	$	—		$	—		$	—		$	(70,775	)
Derivatives Not Designated as Hedges
Cash received (paid) on settlement of derivative instruments
Natural gas	$	—		$	(22,320	)	$	—		$	(22,320	)
Crude oil and condensate	—			(636		)	—			(636		)
Gain (loss) on derivative instruments	51,045			(15,262		)	88,730			(15,262		)
Non-cash gain (loss) on derivative instruments
Gain (loss) on derivative instruments	(57,864		)	12,933			(61,426		)	12,933
	$	(6,819	)	$	(25,285	)	$	27,304		$	(25,285	)
	$	(6,819	)	$	(25,285	)	$	27,304		$	(96,060	)