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Derivative Instruments (Tables) | 9 Months Ended
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Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Outstanding Commodity Derivative Instruments | At September 30, 2017, the Company had the following outstanding commodity derivative instruments:
Commodity |  | Settlement Period |  | Derivative Instrument |  | Volumes |  | Weighted Average Prices |  | Fair Value Asset (Liability)
|  |  |  | Swap |  | Sub-Floor |  | Floor |  | Ceiling |
|  |  |  |  |  |  |  |  |  |  | (In thousands)
Crude oil |  | 2017 |  | Swaps |  | 2,428,000 |  | Bbl |  | $ | 49.98 |  |  |  |  |  |  |  |  | $ | (3,220 | )
Crude oil |  | 2017 |  | Two-way collar |  | 728,000 |  | Bbl |  |  |  |  |  | $ | 46.25 |  |  | $ | 54.37 |  |  | (576 | )
Crude oil |  | 2017 |  | Three-way collar |  | 546,000 |  | Bbl |  |  |  | $ | 31.67 |  |  | $ | 45.83 |  |  | $ | 59.94 |  |  | 42 |
Crude oil |  | 2018 |  | Swaps |  | 12,951,000 |  | Bbl |  | $ | 50.81 |  |  |  |  |  |  |  |  | (13,746 | )
Crude oil |  | 2018 |  | Two-way collar |  | 1,250,000 |  | Bbl |  |  |  |  |  | $ | 48.19 |  |  | $ | 53.33 |  |  | (927 | )
Crude oil |  | 2018 |  | Three-way collar |  | 186,000 |  | Bbl |  |  |  | $ | 31.67 |  |  | $ | 45.83 |  |  | $ | 59.94 |  |  | 51 |
Crude oil |  | 2019 |  | Swaps |  | 3,423,000 |  | Bbl |  | $ | 50.83 |  |  |  |  |  |  |  |  | (846 | )
Crude oil |  | 2019 |  | Two-way collar |  | 93,000 |  | Bbl |  |  |  |  |  | $ | 48.67 |  |  | $ | 53.07 |  |  | (25 | )
Crude oil |  | 2020 |  | Swaps |  | 217,000 |  | Bbl |  | $ | 50.82 |  |  |  |  |  |  |  |  | 28 |
Natural gas |  | 2017 |  | Swaps |  | 2,024,000 |  | Mmbtu |  | $ | 3.30 |  |  |  |  |  |  |  |  | 502 |
Natural gas |  | 2018 |  | Swaps |  | 6,205,000 |  | Mmbtu |  | $ | 3.05 |  |  |  |  |  |  |  |  | (3 | )
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (18,720 | )
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 Statements of Operations for the periods presented:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Statement of Operations Location |  | 2017 |  | 2016 |  | 2017 |  | 2016
|  | (In thousands)
Net gain (loss) on derivative instruments |  | $ | (54,310 | ) |  | $ | 20,847 |  |  | $ | 52,297 |  |  | $ | (55,624 | )
Summary of Gross and Net Information about Commodity Derivative Assets | The following table summarizes the location and fair value of all outstanding commodity derivative instruments recorded in the Company’s Condensed Consolidated Balance Sheets:
|  |  |  | September 30, 2017
Commodity |  | Balance Sheet Location |  | Gross Recognized Assets/Liabilities |  | Gross Amount Offset |  | Net Recognized Fair Value Assets/Liabilities
|  |  |  | (In thousands)
Derivatives assets: |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments — current assets |  | $ | 971 |  |  | $ | (279 | ) |  | $ | 692 |
Commodity contracts |  | Derivative instruments — non-current assets |  | 2,197 |  |  | (1,494 | ) |  | 703 |
Total derivatives assets |  | $ | 3,168 |  |  | $ | (1,773 | ) |  | $ | 1,395 |
Derivatives liabilities: |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments — current liabilities |  | $ | 24,590 |  |  | $ | (8,178 | ) |  | $ | 16,412 |
Commodity contracts |  | Derivative instruments — non-current liabilities |  | 5,284 |  |  | (1,581 | ) |  | 3,703 |
Total derivatives liabilities |  | $ | 29,874 |  |  | $ | (9,759 | ) |  | $ | 20,115 |
|  |  |  | December 31, 2016
Commodity |  | Balance Sheet Location |  | Gross Recognized Asset/Liabilities |  | Gross Amount Offset |  | Net Recognized Fair Value Asset/Liabilities
|  |  |  | (In thousands)
Derivatives assets: |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments — current assets |  | $ | 482 |  |  | $ | (120 | ) |  | $ | 362 |
Total derivatives assets |  | $ | 482 |  |  | $ | (120 | ) |  | $ | 362 |
Derivatives liabilities: |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments — current liabilities |  | $ | 66,838 |  |  | $ | (6,369 | ) |  | $ | 60,469 |
Commodity contracts |  | Derivative instruments — non-current liabilities |  | 14,164 |  |  | (2,450 | ) |  | 11,714 |
Total derivatives liabilities |  | $ | 81,002 |  |  | $ | (8,819 | ) |  | $ | 72,183 |
Summary of Gross and Net Information about Commodity Derivative Liabilities | The following table summarizes the location and fair value of all outstanding commodity derivative instruments recorded in the Company’s Condensed Consolidated Balance Sheets:
|  |  |  | September 30, 2017
Commodity |  | Balance Sheet Location |  | Gross Recognized Assets/Liabilities |  | Gross Amount Offset |  | Net Recognized Fair Value Assets/Liabilities
|  |  |  | (In thousands)
Derivatives assets: |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments — current assets |  | $ | 971 |  |  | $ | (279 | ) |  | $ | 692 |
Commodity contracts |  | Derivative instruments — non-current assets |  | 2,197 |  |  | (1,494 | ) |  | 703 |
Total derivatives assets |  | $ | 3,168 |  |  | $ | (1,773 | ) |  | $ | 1,395 |
Derivatives liabilities: |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments — current liabilities |  | $ | 24,590 |  |  | $ | (8,178 | ) |  | $ | 16,412 |
Commodity contracts |  | Derivative instruments — non-current liabilities |  | 5,284 |  |  | (1,581 | ) |  | 3,703 |
Total derivatives liabilities |  | $ | 29,874 |  |  | $ | (9,759 | ) |  | $ | 20,115 |
|  |  |  | December 31, 2016
Commodity |  | Balance Sheet Location |  | Gross Recognized Asset/Liabilities |  | Gross Amount Offset |  | Net Recognized Fair Value Asset/Liabilities
|  |  |  | (In thousands)
Derivatives assets: |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments — current assets |  | $ | 482 |  |  | $ | (120 | ) |  | $ | 362 |
Total derivatives assets |  | $ | 482 |  |  | $ | (120 | ) |  | $ | 362 |
Derivatives liabilities: |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments — current liabilities |  | $ | 66,838 |  |  | $ | (6,369 | ) |  | $ | 60,469 |
Commodity contracts |  | Derivative instruments — non-current liabilities |  | 14,164 |  |  | (2,450 | ) |  | 11,714 |
Total derivatives liabilities |  | $ | 81,002 |  |  | $ | (8,819 | ) |  | $ | 72,183 |

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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=84234895&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=84234895&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=84234895&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=84234895&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=84234895&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=84234895&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=84234895&loc=SL5624171-113959 Reference 8: 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=84234895&loc=SL5579240-113959 Reference 9: 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=84234895&loc=d3e41620-113959 Reference 10: 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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