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Derivative Financial Instruments (Tables) | 1 Months Ended | 12 Months Ended
--- | --- | ---
Feb. 12, 2014 | Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract] |  |
Schedule of Notional Amounts of Outstanding Derivative Positions | Commodity Derivative Contracts Entered into After December 31, 2013 The following tables summarize all commodity derivative contracts entered between January 1, 2014 and February 12, 2014: Gas Contracts Gas Swaps
Contract Period |  | Volumes |  | Weighted- Average Contract Price
|  | (MMBtu) |  | (per MMBtu)
First quarter 2014 |  | 261,000 |  |  | $ | 4.39 |
Second quarter 2014 |  | 365,000 |  |  | $ | 3.84 |
Third quarter 2014 |  | 341,000 |  |  | $ | 3.89 |
Fourth quarter 2014 |  | 321,000 |  |  | $ | 3.97 |
2015 |  | 1,133,000 |  |  | $ | 3.72 |
2016 |  | 69,000 |  |  | $ | 4.12 |
All gas swaps* |  | 2,490,000 |  |  |
*Natural gas swaps are comprised of IF NNG Ventura (30%) and IF CIG N System (70%). NGL Contracts NGL Swaps
Contract Period |  | Volumes |  | Weighted- Average Contract Price
|  | (Bbls) |  | (per Bbl)
First quarter 2014 |  | 516,000 |  |  | $ | 54.85 |
Second quarter 2014 |  | 531,000 |  |  | $ | 52.53 |
Third quarter 2014 |  | 416,000 |  |  | $ | 52.47 |
Fourth quarter 2014 |  | 334,000 |  |  | $ | 52.52 |
All NGL swaps* |  | 1,797,000 |  |  |
*NGL swaps are comprised of OPIS Natural Gasoline Mt Belv Non TET (17%) and OPIS Propane Mt Belv TET (83%). | The following tables summarize the approximate volumes and average contract prices of contracts the Company had in place as of December 31, 2013: Oil Contracts Oil Swaps
Contract Period |  | Volumes |  | Weighted- Average Contract Price
|  | (Bbls) |  | (per Bbl)
First quarter 2014 |  | 2,600,000 |  |  | $ | 96.92 |
Second quarter 2014 |  | 2,373,000 |  |  | $ | 94.95 |
Third quarter 2014 |  | 973,000 |  |  | $ | 95.25 |
Fourth quarter 2014 |  | 891,000 |  |  | $ | 95.16 |
2015 |  | 2,911,000 |  |  | $ | 89.06 |
2016 |  | 2,704,000 |  |  | $ | 85.19 |
All oil swaps* |  | 12,452,000 |  |  |
*Oil swaps are comprised of NYMEX WTI (97%) and Argus LLS (3%). Oil Collars
Contract Period |  | NYMEX WTI Volumes |  | Weighted- Average Floor Price |  | Weighted- Average Ceiling Price
|  | (Bbls) |  | (per Bbl) |  | (per Bbl)
First quarter 2014 |  | 694,000 |  |  | $ | 80.97 |  |  | $ | 115.07 |
Second quarter 2014 |  | 431,000 |  |  | $ | 85.00 |  |  | $ | 102.50 |
Third quarter 2014 |  | 973,000 |  |  | $ | 85.00 |  |  | $ | 102.58 |
Fourth quarter 2014 |  | 923,000 |  |  | $ | 85.00 |  |  | $ | 102.63 |
2015 |  | 3,366,000 |  |  | $ | 85.00 |  |  | $ | 94.25 |
All oil collars |  | 6,387,000 |  |  |  |  |
Natural Gas Contracts Gas Swaps
Contract Period |  | Volumes |  | Weighted- Average Contract Price
|  | (MMBtu) |  | (per MMBtu)
First quarter 2014 |  | 33,651,000 |  |  | $ | 4.25 |
Second quarter 2014 |  | 25,729,000 |  |  | $ | 3.96 |
Third quarter 2014 |  | 26,398,000 |  |  | $ | 4.01 |
Fourth quarter 2014 |  | 23,965,000 |  |  | $ | 4.01 |
2015 |  | 63,317,000 |  |  | $ | 4.03 |
2016 |  | 39,014,000 |  |  | $ | 4.18 |
2017 |  | 23,430,000 |  |  | $ | 4.21 |
2018 |  | 10,200,000 |  |  | $ | 4.31 |
All gas swaps* |  | 245,704,000 |  |  |
*Natural gas swaps are comprised of IF El Paso Permian (3%), IF HSC (77%), IF NGPL TXOK (3%), IF NNG Ventura (2%), IF PEPL (6%), IF Reliant N/S (8%), and IF NGPL MidCon (1%). Gas Collars
Contract Period |  | Volumes |  | Weighted- Average Floor Price |  | Weighted- Average Ceiling Price
|  | (MMBtu) |  | (per MMBtu) |  | (per MMBtu)
First quarter 2014 |  | 1,540,000 |  |  | $ | 4.39 |  |  | $ | 5.58 |
Second quarter 2014 |  | 4,194,000 |  |  | $ | 4.38 |  |  | $ | 5.29 |
2015 |  | 14,480,000 |  |  | $ | 3.96 |  |  | $ | 4.30 |
All gas collars* |  | 20,214,000 |  |  |  |  |
*Natural gas collars are comprised of IF El Paso Permian (2%), IF HSC (57%), IF NGPL TXOK (3%), IF NNG Ventura (5%), IF PEPL (7%), IF Reliant N/S (14%), and IF TETCO STX (12%). NGL Contracts NGL Swaps
Contract Period |  | Volumes |  | Weighted- Average Contract Price
|  | (Bbls) |  | (per Bbl)
First quarter 2014 |  | 913,000 |  |  | $ | 59.72 |
Second quarter 2014 |  | 565,000 |  |  | $ | 63.22 |
Third quarter 2014 |  | 544,000 |  |  | $ | 62.34 |
Fourth quarter 2014 |  | 527,000 |  |  | $ | 61.57 |
All NGL swaps* |  | 2,549,000 |  |  |
*NGL swaps are comprised of OPIS IsoButane Mt Belv Non TET (2%), OPIS Natural Gasoline Mt Belv Non TET (34%), OPIS NButane Mt Belv Non TET (3%), and OPIS Propane Mt Belv TET (61%).
Schedule of fair value of derivatives in accompanying balance sheets |  | The following tables detail the fair value of derivatives recorded in the accompanying balance sheets, by category:
| As of December 31, 2013
| Derivative Assets |  | Derivative Liabilities
| Balance Sheet Classification |  | Fair Value |  | Balance Sheet Classification |  | Fair Value
| (in thousands)
Commodity Contracts | Current assets |  | $ | 21,559 |  |  | Current liabilities |  | $ | 26,380 |
Commodity Contracts | Noncurrent assets |  | 30,951 |  |  | Noncurrent liabilities |  | 4,640 |
Derivatives not designated as hedging instruments |  |  | $ | 52,510 |  |  |  |  | $ | 31,020 |
| As of December 31, 2012
| Derivative Assets |  | Derivative Liabilities
| Balance Sheet Classification |  | Fair Value |  | Balance Sheet Classification |  | Fair Value
| (in thousands)
Commodity Contracts | Current assets |  | $ | 37,873 |  |  | Current liabilities |  | $ | 8,999 |
Commodity Contracts | Noncurrent assets |  | 16,466 |  |  | Noncurrent liabilities |  | 6,645 |
Derivatives not designated as hedging instruments |  |  | $ | 54,339 |  |  |  |  | $ | 15,644 |
Schedule of the potential effects of master netting arrangements |  | The following table provides a reconciliation between the gross assets and liabilities reflected on the accompanying balance sheets and the potential effects of master netting arrangements on the fair value of the Company's derivative contracts:
|  | Derivative Assets |  | Derivative Liabilities
|  | As of December 31, |  | As of December 31,
Offsetting of Derivative Assets and Liabilities |  | 2013 |  | 2012 |  | 2013 |  | 2012
|  | (in thousands)
Gross amounts presented in the accompanying balance sheets |  | $ | 52,510 |  |  | $ | 54,339 |  |  | $ | (31,020 | ) |  | $ | (15,644 | )
Amounts not offset in the accompanying balance sheets |  | (30,652 | ) |  | (13,400 | ) |  | 30,652 |  |  | 13,400 |
Net amounts |  | $ | 21,858 |  |  | $ | 40,939 |  |  | $ | (368 | ) |  | $ | (2,244 | )
Schedule of unrealized and realized gains and losses on derivative instruments in the statement of operations |  | The following table summarizes the components of derivative (gain) loss presented in the accompanying statements of operations:
| For the Years Ended December 31,
| 2013 |  | 2012 |  | 2011
| (in thousands)
Derivative cash settlement (gain) loss: |  |  |  |  |
Oil contracts | $ | 15,161 |  |  | $ | 11,893 |  |  | $ | 22,633 |
Gas contracts | (30,338 | ) |  | (47,270 | ) |  | (10,711 | )
NGL contracts | (6,885 | ) |  | (8,887 | ) |  | 13,749 |
Total derivative cash settlement (gain) loss (1) | (22,062 | ) |  | (44,264 | ) |  | 25,671 |
Derivative (gain) loss: |  |  |  |  |
Oil contracts | (496 | ) |  | (31,981 | ) |  | (3,391 | )
Gas contracts | 16,285 |  |  | 31,777 |  |  | (64,310 | )
NGL contracts | 3,193 |  |  | (11,162 | ) |  | 4,944 |
Total derivative gain (2) | $ | (3,080 | ) |  | $ | (55,630 | ) |  | $ | (37,086 | )
(1) | Total derivative cash settlement gain (loss) is reported in the derivative cash settlement gain (loss) line item on the consolidated statements of cash flows within net cash provided by operating activities.
(2) | Total derivative gain is reported in the derivative gain line item on the consolidated statements of cash flows within net cash provided by operating activities.
Detail of the effect of derivative instruments reclassified from AOCI to the statement of operations (net of income tax) |  | The following table details the effect of derivative instruments on AOCIL and the accompanying statements of operations (net of income tax):
|  |  | Location on Accompanying Statements of Operations |  | For the Years Ended December 31,
| Derivatives |  |  | 2013 |  | 2012 |  | 2011
|  |  |  |  | (in thousands)
Amount reclassified from AOCIL | Commodity Contracts |  | Realized hedge gain (loss) |  | $ | 1,115 |  |  | $ | (2,264 | ) |  | $ | 12,997 |

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