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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Commodity Derivative Instruments
At December 31, 2017, the Company had the following outstanding commodity derivative instruments:
Commodity
 
Settlement
Period
 
Derivative
Instrument
 
Volumes
 
Weighted Average Prices
 
Fair Value
Asset
(Liabilities)
 
 
 
 
Swap
 
Sub-Floor
 
Floor
 
Ceiling
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Crude oil
 
2018
 
Swaps
 
13,675,000

 
Bbl
 
$
51.25

 
 
 
 
 
 
 
$
(109,129
)
Crude oil
 
2018
 
Two-way collar
 
1,250,000

 
Bbl
 
 
 
 
 
$
48.19

 
$
53.33

 
(7,785
)
Crude oil
 
2018
 
Three-way collar
 
186,000

 
Bbl
 
 
 
$
31.67

 
$
45.83

 
$
59.94

 
(107
)
Crude oil
 
2019
 
Swaps
 
4,091,000

 
Bbl
 
$
51.52

 
 
 
 
 
 
 
(18,635
)
Crude oil
 
2019
 
Two-way collar
 
93,000

 
Bbl
 
 
 
 
 
$
48.67

 
$
53.07

 
(513
)
Crude oil
 
2020
 
Swaps
 
279,000

 
Bbl
 
$
51.76

 
 
 
 
 
 
 
(728
)
Natural gas
 
2018
 
Swaps
 
7,665,000

 
MMbtu
 
$
3.05

 
 
 
 
 
 
 
1,683

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
(135,214
)
Realized and Unrealized 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 Consolidated Statements of Operations for the periods presented:
 
 
Year Ended December 31,
Statement of Operations Location
 
2017
 
2016
 
2015
 
 
(In thousands)
Net gain (loss) on derivative instruments
 
$
(71,657
)
 
$
(105,317
)
 
$
210,376
Schedule of Location and Fair Value of Outstanding Commodity Derivative Instruments
The following tables summarize the location and fair value of all outstanding commodity derivative instruments recorded in the Company’s Consolidated Balance Sheets:
 
 
 
 
December 31, 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
 
$
344

 
$
—

 
$
344

Commodity contracts
 
Derivative instruments — non-current assets
 
9

 
—

 
9

Total derivatives assets
 
 
 
$
353

 
$
—

 
$
353

Derivatives liabilities:
 
 
 
 
 
 
 
 
Commodity contracts
 
Derivative instruments — current liabilities
 
$
117,629

 
$
(1,913
)
 
$
115,716

Commodity contracts
 
Derivative instruments — non-current liabilities
 
20,035

 
(184
)
 
19,851

Total derivatives liabilities
 
$
137,664

 
$
(2,097
)
 
$
135,567

 
 
 
 
 
 
 
 
 
 
 
 
 
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