DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2015

DERIVATIVE FINANCIAL INSTRUMENTS

Summary of open financial derivative positions related to oil and gas production

Product	Type	Contract Period	Volume	Price per Mcf or Bbl
NYMEX Oil	Swap	07/01/15- 09/30/15	1,300 Bbl/d	$	49.75
NYMEX Oil	Swap	07/01/15- 09/30/15	400 Bbl/d	$	56.82
NYMEX Oil	Swap	10/01/15- 03/31/16	250 Bbl/d	$	62.92
NYMEX Oil	Collar	10/01/15- 03/31/16	500 Bbl/d	$	50.00- 64.00
NYMEX Oil	Collar	07/01/16- 06/30/16	250 Bbl/d	$	55.00- 69.97
NYMEX Oil	Collar	07/01/16- 12/31/16	500 Bbl/d	$	50.00- 71.50
NYMEX Oil	Collar	10/01/15- 12/31/15	500 Bbl/d	$	50.00- 68.15
NYMEX Gas	Swap	07/01/15- 12/31/15	3,000 MMBtu/d	$	4.16
NYMEX Gas	Swap	07/01/15- 10/31/15	10,000 MMBtu/d	$	3.18
NYMEX Gas	Swap	07/01/15- 10/31/15	10,000 MMBtu/d	$	3.14
NYMEX Gas	Swap	07/01/15- 12/31/15	15,000 MMBtu/d	$	2.92
NYMEX Gas	Swap	07/01/15- 03/31/16	5,000 MMBtu/d	$	3.02

Summary of amount of gains (losses) recognized in income from derivative instruments not designated as hedging instruments

Derivatives not designated as	For the Three Months						For the Six Months
Hedging Instrument under	Ended June 30,						Ended June 30,
authoritative guidance	2015			2014			2015			2014
(in thousands)
Realized cash settlements on hedges	$	1,137		$	(1,477	)	$	5,135		$	(3,278	)
Mark-to-market gain (loss) on hedges	(4,437		)	(191		)	(4,474		)	617
Total	$	(3,300	)	$	(1,668	)	$	661		$	(2,661	)

Schedule of fair value and balance sheet location of net derivatives

June 30, 2015

	Derivative Assets
(in thousands)	Balance Sheet Location	Fair Value
Commodity—Natural Gas	Current	$	1,073
Total derivatives not designated as hedging instruments		$	1,073

June 30, 2015

	Derivative Liabilities
(in thousands)	Balance Sheet Location	Fair Value
Commodity—Oil	Current	$	1,481
Commodity—Oil	Non-current	61
Total derivatives not designated as hedging instruments		$	1,542

December 31, 2014

	Derivative Assets
(in thousands)	Balance Sheet Location	Fair Value
Commodity—Natural Gas	Current	$	3,611
Commodity—Oil	Current	394
Total derivatives not designated as hedging instruments		$	4,005