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Derivative Instruments (Tables) | 6 Months Ended
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Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Outstanding Commodity Derivative Instruments | At June 30, 2018, the Company had the following outstanding commodity derivative instruments:
Commodity |  | Settlement Period |  | Derivative Instrument |  | Index |  | Volumes |  | Weighted Average Prices |  | Fair Value Asset (Liability)
|  |  |  |  | Fixed Price Swaps | Basis Swaps | Sub-Floor | Floor | Ceiling |
|  |  |  |  |  |  |  |  |  |  |  |  | (In thousands)
Crude oil |  | 2018 |  | Fixed price swaps |  | NYMEX WTI |  | 7,745,000 |  | Bbl |  | $ | 53.02 |  |  |  |  |  |  | $ | (133,352 | )
Crude oil |  | 2018 |  | Basis swaps |  | NYMEX WTI-ICE BRENT |  | 153,000 |  | Bbl |  |  | $ | (10.50 | ) |  |  |  |  | 471 |
Crude oil |  | 2018 |  | Two-way collar |  | NYMEX WTI |  | 549,000 |  | Bbl |  |  |  |  | $ | 48.67 |  | $ | 53.07 |  |  | (9,479 | )
Crude oil |  | 2019 |  | Fixed price swaps |  | NYMEX WTI |  | 5,613,000 |  | Bbl |  | $ | 53.33 |  |  |  |  |  |  | (69,121 | )
Crude oil |  | 2019 |  | Basis swaps |  | NYMEX WTI-ICE BRENT |  | 212,000 |  | Bbl |  |  | $ | (10.50 | ) |  |  |  |  | 353 |
Crude oil |  | 2019 |  | Two-way collar |  | NYMEX WTI |  | 761,000 |  | Bbl |  |  |  |  | $ | 52.03 |  | $ | 69.03 |  |  | (2,500 | )
Crude oil |  | 2019 |  | Three-way collar |  | NYMEX WTI |  | 3,368,000 |  | Bbl |  |  |  | $ | 40.54 |  | $ | 51.03 |  | $ | 68.68 |  |  | (12,060 | )
Crude oil |  | 2020 |  | Fixed price swaps |  | NYMEX WTI |  | 403,000 |  | Bbl |  | $ | 53.47 |  |  |  |  |  |  | (3,557 | )
Crude oil |  | 2020 |  | Two-way collar |  | NYMEX WTI |  | 62,000 |  | Bbl |  |  |  |  | $ | 52.50 |  | $ | 71.25 |  |  | (30 | )
Crude oil |  | 2020 |  | Three-way collar |  | NYMEX WTI |  | 279,000 |  | Bbl |  |  |  | $ | 40.00 |  | $ | 50.56 |  | $ | 67.80 |  |  | (876 | )
Natural gas |  | 2018 |  | Fixed price swaps |  | NYMEX HH |  | 6,440,000 |  | MMbtu |  | $ | 3.02 |  |  |  |  |  |  | 403 |
Natural gas |  | 2019 |  | Fixed price swaps |  | NYMEX HH |  | 1,353,000 |  | MMbtu |  | $ | 2.96 |  |  |  |  |  |  | (44 | )
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (229,792 | )
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 June 30, |  | Six Months Ended June 30,
Statements of Operations Location |  | 2018 |  | 2017 |  | 2018 |  | 2017
|  | (In thousands)
Net gain (loss) on derivative instruments |  | $ | (120,285 | ) |  | $ | 50,532 |  |  | $ | (191,401 | ) |  | $ | 106,607 |
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:
|  |  |  | June 30, 2018
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 — non-current assets |  | $ | 25 |  |  | $ | — |  |  | $ | 25 |
Total derivatives assets |  | $ | 25 |  |  | $ | — |  |  | $ | 25 |
Derivatives liabilities: |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments — current liabilities |  | $ | 198,306 |  |  | $ | (3,496 | ) |  | $ | 194,810 |
Commodity contracts |  | Derivative instruments — non-current liabilities |  | 40,661 |  |  | (5,654 | ) |  | 35,007 |
Total derivatives liabilities |  | $ | 238,967 |  |  | $ | (9,150 | ) |  | $ | 229,817 |
|  |  |  | 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 |
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:
|  |  |  | June 30, 2018
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 — non-current assets |  | $ | 25 |  |  | $ | — |  |  | $ | 25 |
Total derivatives assets |  | $ | 25 |  |  | $ | — |  |  | $ | 25 |
Derivatives liabilities: |  |  |  |  |  |  |  |
Commodity contracts |  | Derivative instruments — current liabilities |  | $ | 198,306 |  |  | $ | (3,496 | ) |  | $ | 194,810 |
Commodity contracts |  | Derivative instruments — non-current liabilities |  | 40,661 |  |  | (5,654 | ) |  | 35,007 |
Total derivatives liabilities |  | $ | 238,967 |  |  | $ | (9,150 | ) |  | $ | 229,817 |
|  |  |  | 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 |

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