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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2013
Hierarchy of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis:
| At fair value as of December 31, 2013
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Assets: |  |  |  |  |  |  |
Money market funds | $ | 742 |  |  | $ | — |  |  | $ | — |  |  | $ | 742 |
Commodity derivative instruments (see Note 4) | — |  |  | 3,597 |  |  | — |  |  | 3,597 |
Total assets | $ | 742 |  |  | $ | 3,597 |  |  | $ | — |  |  | $ | 4,339 |
Liabilities: |  |  |  |  |  |  |
Commodity derivative instruments (see Note 4) | $ | — |  |  | $ | 8,327 |  |  | $ | — |  |  | $ | 8,327 |
Total liabilities | $ | — |  |  | $ | 8,327 |  |  | $ | — |  |  | $ | 8,327 |
| At fair value as of December 31, 2012
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Assets: |  |  |  |  |  |  |
Money market funds | $ | 66,387 |  |  | $ | — |  |  | $ | — |  |  | $ | 66,387 |
Commodity derivative instruments (see Note 4) | — |  |  | 23,997 |  |  | — |  |  | 23,997 |
Total assets | $ | 66,387 |  |  | $ | 23,997 |  |  | $ | — |  |  | $ | 90,384 |
Liabilities: |  |  |  |  |  |  |
Commodity derivative instruments (see Note 4) | $ | — |  |  | $ | 1,428 |  |  | $ | — |  |  | $ | 1,428 |
Total liabilities | $ | — |  |  | $ | 1,428 |  |  | $ | — |  |  | $ | 1,428 |
Reconciliation of Changes in Fair Value of Level 3 Derivative Instruments | The following table presents a reconciliation of the changes in fair value of the derivative instruments classified as Level 3 in the fair value hierarchy for the years presented. The Level 3 instruments presented below consist of derivative instruments, which include oil collars, swaps and puts.
| 2013 |  | 2012 |  | 2011
| (In thousands)
Balance as of January 1 | $ | — |  |  | $ | (5,050 | ) |  | $ | (10,486 | )
Total gains or (losses): |  |  |  |  |
Included in earnings | — |  |  | — |  |  | 1,595 |
Included in other comprehensive income | — |  |  | — |  |  | — |
Purchases, issuances and settlements | — |  |  | — |  |  | 3,841 |
Transfers in and out of Level 3(1) | — |  |  | 5,050 |  |  | — |
Balance as of December 31 | $ | — |  |  | $ | — |  |  | $ | (5,050 | )
Change in fair value included in earnings relating to derivatives instruments still held at December 31 | $ | — |  |  | $ | — |  |  | $ | 5,436 |
(1) | During the year ended December 31, 2012, the inputs used to value the Company’s commodity derivative instruments were directly or indirectly observable and those contracts were transferred to Level 2.

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 + Details
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