Derivative instruments (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments, gain (losses)

The gains and losses on derivative instruments were as follows:



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014		2013
	(In thousands)
Commodity derivatives designated as cash flow hedges:
Amount of loss recognized in accumulated other comprehensive loss (effective portion), net of tax	$	—		$	—		$	—	$	(6,153	)
Amount of (gain) loss reclassified from accumulated other comprehensive loss into operating revenues (effective portion), net of tax	(18		)	(634		)	140		(4,349		)
Amount of loss recognized in operating revenues (ineffective portion), before tax	—			—			—		(1,422		)

Interest rate derivatives designated as cash flow hedges:
Amount of gain recognized in accumulated other comprehensive loss (effective portion), net of tax	—			—			—		559
Amount of loss reclassified from accumulated other comprehensive loss into interest expense (effective portion), net of tax	100			124			299		671
Amount of loss recognized in interest expense (ineffective portion), before tax	—			—			—		(769		)

Commodity derivatives not designated as hedging instruments:
Amount of gain (loss) recognized in operating revenues, before tax	28,755			(12,594		)	16,847		(3,957		)

Derivative instruments

The location and fair value of the gross amount of the Company's derivative instruments on the Consolidated Balance Sheets were as follows:



Asset Derivatives	Location on Consolidated Balance Sheets	Fair Value at September 30, 2014		Fair Value at September 30, 2013		Fair Value at December 31, 2013
		(In thousands)
Not designated as hedges:
Commodity derivatives	Commodity derivative instruments	$	11,322	$	4,373	$	1,447
	Other assets - noncurrent	259		1,771		503
Total asset derivatives		$	11,581	$	6,144	$	1,950



Liability Derivatives	Location on Consolidated Balance Sheets	Fair Value at September 30, 2014		Fair Value at September 30, 2013		Fair Value at December 31, 2013
		(In thousands)
Not designated as hedges:
Commodity derivatives	Commodity derivative instruments	$	44	$	9,740	$	7,483
	Other liabilities - noncurrent	—		149		—
Total liability derivatives		$	44	$	9,889	$	7,483

Offsetting assets and liabilities master netting

The gross derivative assets and liabilities (excluding settlement receivables and payables that may be subject to the same master netting agreements) presented on the Consolidated Balance Sheets and the amount eligible for offset under the master netting agreements is presented in the following table:



September 30, 2014	Gross Amounts Recognized on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets			Net
	(In thousands)
Assets:
Commodity derivatives	$	11,581	$	(44	)	$	11,537
Total assets	$	11,581	$	(44	)	$	11,537
Liabilities:
Commodity derivatives	$	44	$	(44	)	$	—
Total liabilities	$	44	$	(44	)	$	—



September 30, 2013	Gross Amounts Recognized on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets			Net
	(In thousands)
Assets:
Commodity derivatives	$	6,144	$	(4,939	)	$	1,205
Total assets	$	6,144	$	(4,939	)	$	1,205
Liabilities:
Commodity derivatives	$	9,889	$	(4,939	)	$	4,950
Total liabilities	$	9,889	$	(4,939	)	$	4,950



December 31, 2013	Gross Amounts Recognized on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets			Net
	(In thousands)
Assets:
Commodity derivatives	$	1,950	$	(1,950	)	$	—
Total assets	$	1,950	$	(1,950	)	$	—
Liabilities:
Commodity derivatives	$	7,483	$	(1,950	)	$	5,533
Total liabilities	$	7,483	$	(1,950	)	$	5,533