Derivative and Hedging Financial Instruments (Tables)

12 Months Ended

Dec. 31, 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 for gas collars and gas hedges as of December 31, 2015:

Contract Period Of Morgan Stanley Restrike	Volumes		Weighted- Average Fixed Price
	(MMBtu)		(per MMBtu)
2016		4,166,789	$	3.27
2017		3,300,403	$	3.27
2018		2,796,751	$	3.27
All gas basis hedges*		10,263,943

Contract Period Of Morgan Stanley Fixed III	Volumes		Basis Swap Fixed Price
	(MMBtu)		(per MMBtu)
2016		1,878,290	$	(1.12	)
2017		1,539,998	$	(1.12	)
2018		1,329,467	$	(1.12	)
All gas basis hedges*		4,747,755

* Gas basis hedges are based on the difference between TETCO M2 and 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 December 31, 2015
	Derivative Assets			Derivative Liabilities
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
Commodity derivative	Current assets	$	3,417,887	Current liabilities	$	474,696
Commodity derivative	Noncurrent assets		2,423,508	Noncurrent liabilities		1,253,024
		$	5,841,395		$	1,727,720

	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 years ended December 31, 2015 and 2014.

	Twelve Months Ended December 31,
	2015			2014
Realized gains on commodity derivative	$	15,756,161		$	949,094
Change in fair value of commodity derivative		(3,399,993	)		7,639,441
Total realized and unrealized gains/(losses) recorded	$	12,356,168		$	8,588,535

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