Derivative and Hedging Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

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 hedges and gas basis hedges as of March 31, 2016:

Contract Period Of Morgan Stanley Restrike	Volumes		Weighted-    Average Fixed    Price
	(MMBtu)		(per MMBtu)
2016		3,321,358	$	3.27
2017		3,248,187	$	3.27
2018		2,542,645	$	3.27
All gas hedges		9,112,190

Contract Period Of Morgan Stanley Fixed III	Volumes		Basis Swap Fixed Price
	(MMBtu)		(per MMBtu)
2016		1,509,895	$	(1.12	)
2017		1,518,648	$	(1.12	)
2018		1,209,491	$	(1.12	)
All gas basis hedges*		4,238,034

* 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 condensed consolidated balance sheets, by category:

	As of March 31, 2016 (Unaudited)
	Derivative Assets				Derivative Liabilities
	Balance Sheet Classification		Fair Value		Balance Sheet Classification		Fair Value
Commodity derivative		Current assets	$	3,721,680		Current liabilities	$	585,950
Commodity derivative		Noncurrent assets		2,189,678		Noncurrent liabilities		956,941
			$	5,911,358			$	1,542,891

	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

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 months ended March 31, 2016 and 2015.

	Three Months Ended March 31, (Unaudited)
	2016		2015
Realized gains on commodity derivatives	$	928,834	$	2,030,176
Change in fair value of commodity derivatives		254,792		5,345,004
Total realized and unrealized gains recorded	$	1,183,626	$	7,375,180