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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2017
Open Option Contracts Written [Line Items] |
Summary of gross asset balances of derivative instruments | The following table presents the gross asset and liability fair values of the Company’s commodity price derivative financial instruments and the location of these balances in the interim unaudited condensed consolidated balance sheets as of March 31, 2017 and December 31, 2016 (in thousands).
Derivative Instruments | Gross amounts recognized |  | Gross amounts netted in the condensed consolidated balance sheets |  | Net amounts presented in the condensed consolidated balance sheets
March 31, 2017 |  |  |  |  |
Current assets | $ | 5,399 |  |  | $ | (3,684 | ) |  | $ | 1,715 |
Other assets | 6,137 |  |  | (3,854 | ) |  | 2,283 |
Current liabilities | (12,005 | ) |  | 3,684 |  |  | (8,321 | )
Other liabilities | (3,854 | ) |  | 3,854 |  |  | — |
Total | $ | (4,323 | ) |  | $ | — |  |  | $ | (4,323 | )
December 31, 2016 |  |  |  |  |
Current liabilities | $ | (24,203 | ) |  | $ | — |  |  | $ | (24,203 | )
Other liabilities | (751 | ) |  | — |  |  | (751 | )
Total | $ | (24,954 | ) |  | $ | — |  |  | $ | (24,954 | )
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations | The following table summarizes the location and aggregate fair value of all derivative financial instruments recorded in the interim unaudited condensed consolidated statements of operations for the periods presented (in thousands). These derivative financial instruments are not designated as hedging instruments.
|  |  | Three Months Ended March 31,
Type of Instrument | Location in Condensed Consolidated Statement of Operations |  | 2017 |  | 2016
Derivative Instrument |  |  |  |  |
Oil | Revenues: Realized (loss) gain on derivatives |  | $ | (1,635 | ) |  | $ | 5,464 |
Natural Gas | Revenues: Realized (loss) gain on derivatives |  | (584 | ) |  | 1,599 |
Realized (loss) gain on derivatives |  | (2,219 | ) |  | 7,063 |
Oil | Revenues: Unrealized gain (loss) on derivatives |  | 17,780 |  |  | (7,654 | )
Natural Gas | Revenues: Unrealized gain on derivatives |  | 2,851 |  |  | 815 |
Unrealized gain (loss) on derivatives |  | 20,631 |  |  | (6,839 | )
Total |  |  | $ | 18,412 |  |  | $ | 224 |
Open costless collar contracts |
Open Option Contracts Written [Line Items] |
Summary of contracts for oil and natural gas | The following is a summary of the Company’s open costless collar contracts for oil and natural gas at March 31, 2017.
Commodity | Calculation Period |  | Notional Quantity (Bbl or MMBtu) |  | Weighted Average Price Floor ($/Bbl or $/MMBtu) |  | Weighted Average Price Ceiling ($/Bbl or $/MMBtu) |  | Fair Value of Asset (Liability) (thousands)
Oil | 04/01/2017 - 12/31/2017 |  | 3,690,000 |  |  | $ | 45.17 |  |  | $ | 55.75 |  |  | $ | (3,493 | )
Oil | 01/01/2018 - 12/31/2018 |  | 1,920,000 |  |  | $ | 43.91 |  |  | $ | 63.44 |  |  | 2,205 |
Natural Gas | 04/01/2017 - 12/31/2017 |  | 18,810,000 |  |  | $ | 2.51 |  |  | $ | 3.60 |  |  | (2,502 | )
Natural Gas | 01/01/2018 - 12/31/2018 |  | 13,200,000 |  |  | $ | 2.53 |  |  | $ | 3.68 |  |  | (533 | )
Total open derivative financial instruments |  |  |  |  |  |  |  | $ | (4,323 | )

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- Definition Tabular disclosure of the information required in the supplementary schedule applicable to management investment companies listing written option contracts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-12B) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611197-123010 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: 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=64837297&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959 + Details
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