DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 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	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	04/01/16- 06/30/16	250 Bbl/d	$	55.00- 69.97
NYMEX Oil	Collar	01/01/16- 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	10/01/15- 12/31/15	3,000 MMBtu/d	$	4.16
NYMEX Gas	Swap	10/01/15- 10/31/15	10,000 MMBtu/d	$	3.18
NYMEX Gas	Swap	10/01/15- 10/31/15	10,000 MMBtu/d	$	3.14
NYMEX Gas	Swap	10/01/15- 12/31/15	15,000 MMBtu/d	$	2.92
NYMEX Gas	Swap	10/01/15- 03/31/16	5,000 MMBtu/d	$	3.02
NYMEX Gas	Swap	10/01/15- 10/31/16	15,000 MMBtu/d	$	2.93
NYMEX Gas	Swap	01/01/16- 12/31/16	15,000 MMBtu/d	$	3.16
NYMEX Gas	Swap	11/01/15- 03/31/16	15,000 MMBtu/d	$	3.18

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 Nine Months
Hedging Instrument under	Ended September 30,				Ended September 30,
authoritative guidance	2015		2014		2015		2014
(in thousands)
Realized cash settlements on hedges	$	2,644	$	11	$	7,778	$	(3,267	)
Mark-to-market gain on hedges	8,000		3,688		3,526		4,305
Total	$	10,644	$	3,699	$	11,304	$	1,038

Schedule of fair value and balance sheet location of net derivatives

September 30, 2015

	Derivative Assets
(in thousands)	Balance Sheet Location	Fair Value
Commodity—Natural Gas	Non-current	$	3,106
Commodity—Oil	Non-current	$	232
Commodity—Oil	Current	$	1,765
Commodity—Natural Gas	Current	2,427
Total derivatives not designated as hedging instruments		$	7,530

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