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Subsequent Events | 6 Months Ended
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Jun. 30, 2016
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events The Company has evaluated the period after the balance sheet date, noting no subsequent events or transactions that required recognition or disclosure in the financial statements, other than as noted below. Derivative instruments. In July 2016, the Company entered into a three-way costless collar agreement with a floor price of $45.00 per barrel for total notional amounts of 334,000 barrels and 31,000 barrels, which settle in 2017 and 2018, respectively, based on WTI. These derivative instruments do not qualify for and were not designated as hedging instruments for accounting purposes. Credit facility amendment. On August 8, 2016, the Company entered into its sixth amendment to its Credit Facility (the “Sixth Amendment”), which provides the Company with more flexibility in raising new capital and refinancing its existing Notes. The Sixth Amendment did not change the Company’s current borrowing base and aggregate elected commitment of $1,150.0 million. The next regular semi-annual redetermination of the borrowing base is scheduled for October 1, 2016.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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