Hedging Program and Derivatives (Tables)

12 Months Ended

Dec. 31, 2014

The following table sets forth the summary position of our derivative contracts as of December 31, 2014:

The following table illustrates the impact of derivative contracts on the Company’s balance sheet:



Fair Value of Derivative Instruments as of December 31, 2013
	Asset Derivatives			Liability Derivatives
Derivatives not designated as hedging instruments	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity price derivatives	Derivatives – current	$	85	Derivatives – current	$	2,728
Commodity price derivatives	Derivatives – long-term	925		Derivatives – long-term	2,274
		$	1,010		$	5,002



Fair Value of Derivative Instruments as of December 31, 2014
	Asset Derivatives			Liability Derivatives
Derivatives not designated as hedging instruments	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity price derivatives	Derivatives – current	$	12,214	Derivatives – current	$	13
Commodity price derivatives	Derivatives – long-term	10,981		Derivatives – long-term	—
		$	23,195		$	13