Derivative and Hedging Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative

The following tables detail the fair value of derivatives recorded in the accompanying balance sheets, by category:

	As of June 30, 2015
	Derivative Assets			Derivative Liabilities
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
Commodity derivative	Current assets	$	3,577,996	Current liabilities	$	—
Commodity derivative	Noncurrent assets		—	Noncurrent liabilities		1,345,504
		$	3,577,996		$	1,345,504

	As of December 31, 2014
	Derivative Assets			Derivative Liabilities
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
Commodity derivative	Current assets	$	5,420,309	Current liabilities	$	—
Commodity derivative	Noncurrent assets		2,809,847	Noncurrent liabilities		716,488
		$	8,230,156		$	716,488

Summary of Realized and Unrealized Gains and Losses Related to Derivative Instrument

The table below summarizes the realized and unrealized gains and losses related to our derivative instruments for the three and six months ended June 30, 2015 and 2014.

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Realized gains (loss) on commodity derivative	$	10,099,261		$	(189,506	)	$	12,129,437		$	(450,047	)
Change in fair value of commodity derivative		(10,626,181	)		(2,269,930	)		(5,281,176	)		(2,575,581	)
Total realized and unrealized gains recorded	$	(526,920	)	$	(2,459,436	)	$	6,848,261		$	(3,025,628	)

These realized and unrealized gains and losses are recorded in the accompanying unaudited condensed consolidated statements of operations as derivative gains (losses).

Summary of Volumes and Average Contract Prices of Contracts

The following tables summarize the approximate volumes and average contract prices of contracts the Company had in place as of June 30, 2015 following the monetization of hedges that took place in April 2015:

Contract Period Of Morgan Stanley Fixed I	Volumes		Weighted- Average Fixed Price
	(MMBtu)		(per MMBtu)
2015		1,857,538	$	4.11
2016		3,002,489	$	3.27
2017		2,495,153	$	3.27
2018		1,995,696	$	3.27
All gas hedges*		9,350,876

* Gas hedges are comprised of IF Henry Hub (100%).

Contract Period Of Morgan Stanley Fixed II	Volumes		Weighted- Average Fixed Price
	(MMBtu)		(per MMBtu)
2015		844,368	$	3.92
2016		992,431	$	3.27
2017		771,407	$	3.27
2018		603,458	$	3.27
All gas hedges*		3,211,664

* Gas hedges are comprised of IF Henry Hub (100%).

Contract Period Of Morgan Stanley Fixed III	Volumes		Basis Swap Fixed Price
	(MMBtu)		(per MMBtu)
2015		1,333,640	$	(1.12	)
2016		1,842,098	$	(1.12	)
2017		1,518,648	$	(1.12	)
2018		1,209,491	$	(1.12	)
All gas hedges*		5,903,877

* Gas hedges are comprised of IF Henry Hub (100%).