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Derivative Instruments (Tables) | 9 Months Ended
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Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Outstanding Commodity Derivative Instruments | As of September 30, 2015, the Company had the following outstanding commodity derivative instruments, all of which settle monthly based on the average WTI:
Settlement Period |  | Derivative Instrument |  | Total Notional Amount of Oil |  | Weighted Average Prices |  | Fair Value
|  |  | Swap |  | Floor |  | Ceiling |
|  |  |  | (Barrels) |  | ($/Barrel) |  | (In thousands)
2015 |  | Two-way collars |  | 455,000 |  |  |  |  | $ | 86.00 |  |  | $ | 103.42 |  |  | $ | 18,790 |
2015 |  | Swaps |  | 2,093,000 |  |  | $ | 73.35 |  |  |  |  |  |  | 57,933 |
2016 |  | Two-way collars |  | 155,000 |  |  |  |  | $ | 86.00 |  |  | $ | 103.42 |  |  | 6,133 |
2016 |  | Swaps |  | 5,643,000 |  |  | $ | 57.75 |  |  |  |  |  |  | 51,499 |
2017 |  | Swaps |  | 372,000 |  |  | $ | 53.84 |  |  |  |  |  |  | 1,001 |
|  |  |  |  |  |  |  |  |  |  |  | $ | 135,356 |
Schedule of Location and Fair Value of Outstanding Commodity Derivative Instruments | The following table summarizes the location and fair value of all outstanding commodity derivative instruments recorded in the Company’s Condensed Consolidated Balance Sheet for the periods presented:
|  |  |  | Fair Value Asset (Liability)
Commodity |  | Balance Sheet Location |  | September 30, 2015 |  | December 31, 2014
|  |  |  | (In thousands)
Crude oil |  | Derivative instruments — current assets |  | $ | 130,747 |  |  | $ | 302,159 |
Crude oil |  | Derivative instruments — non-current assets |  | 4,699 |  |  | 13,348 |
Crude oil |  | Derivative instruments — non-current liabilities |  | (90 | ) |  | — |
Total derivative instruments |  | $ | 135,356 |  |  | $ | 315,507 |
Gains and Losses from Commodity Derivative Instruments | The following table summarizes the location and amounts of gains and losses from the Company’s commodity derivative instruments recorded in the Company’s Condensed Consolidated Statement of Operations for the periods presented:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Statement of Operations Location |  | 2015 |  | 2014 |  | 2015 |  | 2014
|  | (In thousands)
Net gain on derivative instruments |  | $ | 103,637 |  |  | $ | 103,426 |  |  | $ | 111,285 |  |  | $ | 20,253 |
Summary of Gross and Net Information about Commodity Derivative Assets | The following tables summarize gross and net information about the Company’s commodity derivative instruments for the periods presented:
Offsetting of Derivative Assets |  | Gross Amounts of Recognized Assets |  | Gross Amounts Offset in the Balance Sheet |  | Net Amounts of Assets Presented in the Balance Sheet
|  | (In thousands)
As of September 30, 2015 |  | $ | 153,394 |  |  | $ | (17,948 | ) |  | $ | 135,446 |
As of December 31, 2014 |  | 331,121 |  |  | (15,614 | ) |  | 315,507 |
Summary of Gross and Net Information about Commodity Derivative Liabilities |
Offsetting of Derivative Liabilities |  | Gross Amounts of Recognized Liabilities |  | Gross Amounts Offset in the Balance Sheet |  | Net Amounts of Liabilities Presented in the Balance Sheet
|  | (In thousands)
As of September 30, 2015 |  | $ | 18,038 |  |  | $ | (17,948 | ) |  | $ | 90 |
As of December 31, 2014 |  | 15,614 |  |  | (15,614 | ) |  | — |

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