Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Oil and gas contracts

As of March 31, 2017, the Company had entered into the following commodity derivative instruments:

Production Period	Instrument Type	Daily Volumes	Weighted Average Price
Natural Gas:
April - December 2017	Swap	30,000 Mmbtu	$3.22
October - December 2017	Swap	10,000 Mmbtu	$3.22
January - March 2018	Swap	35,000 Mmbtu	$3.24

Effect of Cash Flow Hedges on the Consolidated Balance Sheet

Effect of Cash Flow Hedges on the Consolidated Balance Sheets at March 31, 2017 and December 31, 2016:

	Commodity Derivatives
Period	Balance Sheet Location	Fair Value
March 31, 2017	Derivative asset	$	168
March 31, 2017	Derivative liability	$	(1,729	)
December 31, 2016	Derivative liability	$	(3,947	)
December 31, 2016	Other long-term liabilities	$	(803	)

Effect of Cash Flow Hedges on the Consolidated Statement of Operations

Effect of Cash Flow Hedges on the Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2017 and 2016:

Instrument	Amount of Gain Recognized in Other Comprehensive Income		Location of Gain (Loss) Reclassified into Income	Amount of Gain (Loss) Reclassified into oil and gas sales
Commodity Derivatives at March 31, 2017	$	2,867	Oil and gas sales	$	(321	)
Commodity Derivatives at March 31, 2016	$	801	Oil and gas sales	$	1,032