Derivative and Hedging Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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 September 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		893,151	$	4.11
2016		3,174,357	$	3.27
2017		2,783,102	$	3.27
2018		1,939,187	$	3.27
All gas hedges*		8,789,797

* 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		382,817	$	3.92
2016		992,431	$	3.27
2017		771,407	$	3.27
2018		603,458	$	3.27
All gas hedges*		2,750,113

* 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		553,830	$	(1.12	)
2016		1,878,290	$	(1.12	)
2017		1,539,998	$	(1.12	)
2018		1,329,467	$	(1.12	)
All gas hedges*		5,301,585

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

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 September 30, 2015
	Derivative Assets			Derivative Liabilities
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
Commodity derivative	Current assets	$	3,160,081	Current liabilities	$	226,633
Commodity derivative	Noncurrent assets		1,376,585	Noncurrent liabilities		1,264,412
		$	4,536,666		$	1,491,045
	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 nine months ended September 30, 2015 and 2014.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015			2014
Realized gains (loss) on commodity derivative	$	2,108,934	$	530,150	$	14,238,371		$	80,103
Change in fair value of commodity derivative		813,129		2,432,946		(4,468,047	)		(142,636	)
Change in fair value of warrant derivative liability				—					—
Total realized and unrealized gains (loss) recorded	$	2,922,063	$	2,963,096	$	9,770,324		$	(62,533	)

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