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Derivative Activities (Tables) | 9 Months Ended
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Sep. 30, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Derivative Volumes Hedged and Average Hedge Prices | The following table sets forth our commodity-based derivative volumes by year as of September 30, 2015, excluding our basis swaps which are discussed separately below:
Period |  | Contract Type |  | Volume Hedged |  | Weighted Average Hedge Price
Natural Gas |  |  |  |  |  |
2015 |  | Collars |  | 145,000 Mmbtu/day |  | $ 4.07–$ 4.56
2015 |  | Swaps |  | 727,500 Mmbtu/day |  | $ 3.63
2016 |  | Swaps |  | 630,000 Mmbtu/day |  | $ 3.42
2017 |  | Swaps |  | 20,000 Mmbtu/day |  | $ 3.49
Crude Oil |  |  |  |  |  |
2015 |  | Sold Swaps |  | 11,250 bbls/day |  | $ 85.87
2015 |  | Re-Purchased Swaps |  | 2,500 bbls/day |  | $ 40.19
2016 |  | Swaps |  | 3,999 bbls/day |  | $ 66.09
2017 |  | Swaps |  | 500 bbls/day |  | $ 55.00
NGLs (C3-Propane) |  |  |  |  |  |
2015 |  | Swaps |  | 12,000 bbls/day |  | $ 0.55/gallon
2016 |  | Swaps |  | 5,500 bbls/day |  | $ 0.60/gallon
NGLs (NC4-Normal Butane) |  |  |  |  |  |
2015 |  | Swaps |  | 3,500 bbls/day |  | $ 0.72/gallon
2016 |  | Swaps |  | 2,500 bbls/day |  | $ 0.72/gallon
NGLs (C5-Natural Gasoline) |  |  |  |  |  |
2015 |  | Swaps |  | 4,000 bbls/day |  | $ 1.16/gallon
2016 |  | Swaps |  | 2,500 bbls/day |  | $ 1.23/gallon
Combined Fair Value of Derivatives, by Consolidated Balance Sheets | The combined fair value of derivatives included in the accompanying consolidated balance sheets as of September 30, 2015 and December 31, 2014 is summarized below. The assets and liabilities are netted where derivatives with both gain and loss positions are held by a single counterparty and we have master netting arrangements. The tables below provide additional information relating to our master netting arrangements with our derivative counterparties (in thousands):
|  |  | September 30, 2015 |
|  |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Balance Sheet |  |  | Net Amounts of Assets Presented in the Balance Sheet |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Natural gas | –swaps |  | $ | 213,837 |  |  | $ | — |  |  | $ | 213,837 |
| –collars |  |  | 19,657 |  |  |  | — |  |  |  | 19,657 |
| –basis swaps |  |  | 1,875 |  |  |  | (3,458 | ) |  |  | (1,583 | )
Crude oil | –sold swaps |  |  | 66,494 |  |  |  | — |  |  |  | 66,494 |
| –re-purchased swaps |  |  | 1,287 |  |  |  | — |  |  |  | 1,287 |
NGLs | –C3 swaps |  |  | 13,933 |  |  |  | — |  |  |  | 13,933 |
| –NC4 swaps |  |  | 6,004 |  |  |  | — |  |  |  | 6,004 |
| –C5 swaps |  |  | 13,546 |  |  |  | — |  |  |  | 13,546 |
|  |  | $ | 336,633 |  |  | $ | (3,458 | ) |  | $ | 333,175 |
|  |  | September 30, 2015 |
|  |  | Gross Amounts of Recognized (Liabilities) |  |  | Gross Amounts Offset in the Balance Sheet |  |  | Net Amounts of (Liabilities) Presented in the Balance Sheet |
Derivative (liabilities): |  |  |  |  |  |  |  |  |  |  |  |  |
Natural gas | –basis swaps |  | $ | (3,862 | ) |  | $ | 3,458 |  |  | $ | (404 | )
|  |  | $ | (3,862 | ) |  | $ | 3,458 |  |  | $ | (404 | )
|  |  | December 31, 2014 |
|  |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Balance Sheet |  |  | Net Amounts of Assets Presented in the Balance Sheet |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Natural gas | –swaps |  | $ | 198,740 |  |  | $ | — |  |  | $ | 198,740 |
| –collars |  |  | 57,460 |  |  |  | — |  |  |  | 57,460 |
| –basis swaps |  |  | 2,442 |  |  |  | (755 | ) |  |  | 1,687 |
Crude oil | –swaps |  |  | 128,578 |  |  |  | — |  |  |  | 128,578 |
NGLs | –C3 swaps |  |  | 14,727 |  |  |  | — |  |  |  | 14,727 |
| –C5 swaps |  |  | 2,171 |  |  |  | — |  |  |  | 2,171 |
|  |  | $ | 404,118 |  |  | $ | (755 | ) |  | $ | 403,363 |
|  |  | December 31, 2014 |
|  |  | Gross Amounts of Recognized (Liabilities) |  |  | Gross Amounts Offset in the Balance Sheet |  |  | Net Amounts of (Liabilities) Presented in the Balance Sheet |
Derivative (liabilities): |  |  |  |  |  |  |  |  |  |  |  |  |
Natural gas | –basis swaps |  | $ | (755 | ) |  | $ | 755 |  |  | $ | — |
|  |  | $ | (755 | ) |  | $ | 755 |  |  | $ | — |
Schedule of Realized Gains from Cash Flow Hedges and Other Hedges Reclassified from Accumulated Other Comprehensive Income | For the three and nine months ended September 30, 2014, the realized gains from our cash flow hedges (for those derivatives that previously qualified for hedge accounting which were reclassified from AOCI into revenue) is summarized below (in thousands):
|  | Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |
|  | 2014 |  |  |  | 2014 |
Swaps | $ | 1,255 |  |  | $ | 3,144 |
Collars |  | 2,249 |  |  |  | 7,436 |
Income taxes |  | (1,332 | ) |  |  | (4,122 | )
| $ | 2,172 |  |  | $ | 6,458 |
Effects of Non-Hedge Derivatives on Consolidated Statements of Operations | The effects of our non-hedge derivatives (those derivatives that do not qualify for hedge accounting) on our consolidated statements of operations are summarized below (in thousands):
|  | Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |
|  | Derivative Fair Value Income (Loss) |  |  |  | Derivative Fair Value Income (Loss) |
| 2015 |  |  |  | 2014 |  |  |  | 2015 |  |  |  | 2014 |
Swaps | $ | 198,245 |  |  | $ | 105,767 |  |  | $ | 281,921 |  |  | $ | 23,173 |
Re-purchased swaps |  | 1,683 |  |  |  | — |  |  |  | 1,683 |  |  |  | — |
Collars |  | 5,626 |  |  |  | 30,119 |  |  |  | 12,391 |  |  |  | (7,997 | )
Basis swaps |  | (3,550 | ) |  |  | 6,171 |  |  |  | (5,943 | ) |  |  | (44,078 | )
Total | $ | 202,004 |  |  | $ | 142,057 |  |  | $ | 290,052 |  |  | $ | (28,902 | )

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- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41641-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41678-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579240-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41620-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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