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Derivatives (Tables) | 12 Months Ended
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Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value of Derivative Contracts | The following table presents the fair value of the Company’s derivative contracts as of December 31, 2014 and 2013 on a gross basis without regard to same-counterparty netting (in thousands):
|  |  |  | December 31,
Type of Contract |  | Balance Sheet Classification |  | 2014 |  | 2013
Derivative assets |  |  |  |  |  |
Oil price swaps |  | Derivative contracts—current |  | $ | 204,072 |  |  | $ | 15,887 |
Natural gas price swaps |  | Derivative contracts—current |  | 29,648 |  |  | 1,598 |
Natural gas basis swaps |  | Derivative contracts—current |  | 350 |  |  | — |
Oil collars—three way |  | Derivative contracts—current |  | 56,289 |  |  | 706 |
Natural gas collars |  | Derivative contracts—current |  | 1,055 |  |  | 177 |
Oil price swaps |  | Derivative contracts—noncurrent |  | 36,288 |  |  | 19,376 |
Oil collars—three way |  | Derivative contracts—noncurrent |  | 10,715 |  |  | 12,189 |
Natural gas collars |  | Derivative contracts—noncurrent |  | — |  |  | 341 |
Derivative liabilities |  |  |  |  |  |
Oil price swaps |  | Derivative contracts—current |  | — |  |  | (38,396 | )
Natural gas price swaps |  | Derivative contracts—current |  | — |  |  | (1,460 | )
Oil price swaps |  | Derivative contracts—noncurrent |  | — |  |  | (38,344 | )
Total net derivative contracts |  | $ | 338,417 |  |  | $ | (27,926 | )
Offsetting Assets and Liabilities | The following tables summarize (i) the Company's derivative contracts on a gross basis, (ii) the effects of netting assets and liabilities for which the right of offset exists based on master netting arrangements and (iii) for the Company’s derivative liability positions, the applicable portion of shared collateral under the senior credit facility (for SandRidge's derivative contracts) and under liens granted on the royalty interests (for the Permian Trust and the Mississippian Trust II) (in thousands): December 31, 2014
|  | Gross Amounts |  | Gross Amounts Offset |  | Amounts Net of Offset |  | Financial Collateral |  | Net Amount
Assets |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 291,414 |  |  | $ | — |  |  | $ | 291,414 |  |  | $ | — |  |  | $ | 291,414 |
Derivative contracts - noncurrent |  | 47,003 |  |  | — |  |  | 47,003 |  |  | — |  |  | 47,003 |
Total |  | $ | 338,417 |  |  | $ | — |  |  | $ | 338,417 |  |  | $ | — |  |  | $ | 338,417 |
Liabilities |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Derivative contracts - noncurrent |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
December 31, 2013
|  | Gross Amounts |  | Gross Amounts Offset |  | Amounts Net of Offset |  | Financial Collateral |  | Net Amount
Assets |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 18,368 |  |  | $ | (5,589 | ) |  | $ | 12,779 |  |  | $ | — |  |  | $ | 12,779 |
Derivative contracts - noncurrent |  | 31,906 |  |  | (17,780 | ) |  | 14,126 |  |  | — |  |  | 14,126 |
Total |  | $ | 50,274 |  |  | $ | (23,369 | ) |  | $ | 26,905 |  |  | $ | — |  |  | $ | 26,905 |
Liabilities |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 39,856 |  |  | $ | (5,589 | ) |  | $ | 34,267 |  |  | $ | (34,267 | ) |  | $ | — |
Derivative contracts - noncurrent |  | 38,344 |  |  | (17,780 | ) |  | 20,564 |  |  | (20,564 | ) |  | — |
Total |  | $ | 78,200 |  |  | $ | (23,369 | ) |  | $ | 54,831 |  |  | $ | (54,831 | ) |  | $ | — |
Open Oil and Natural Gas Commodity Derivative Contracts | At December 31, 2014, the Company’s open commodity derivative contracts consisted of the following: Oil Price Swaps
| Notional (MBbls) |  | Weighted Average Fixed Price
January 2015 - December 2015 | 5,588 |  |  | $ | 92.44 |
January 2016 - December 2016 | 1,464 |  |  | $ | 88.36 |
Natural Gas Price Swaps
| Notional (MMcf) |  | Weighted Average Fixed Price
January 2015 - December 2015 | 19,900 |  |  | $ | 4.51 |
Natural Gas Basis Swaps
| Notional (MMcf) |  | Weighted Average Fixed Price
January 2015 - December 2015 | 21,900 |  |  | $ | (0.27 | )
Oil Collars - Three-way
| Notional (MBbls) |  | Sold Put |  | Purchased Put |  | Sold Call
January 2015 - December 2015 | 4,576 |  |  | $ | 76.56 |  |  | $ | 90.28 |  |  | $ | 103.48 |
January 2016 - December 2016 | 2,556 |  |  | $ | 83.14 |  |  | $ | 90.00 |  |  | $ | 100.85 |
Natural Gas Collars
| Notional (MMcf) |  | Collar Range
January 2015 - December 2015 | 1,010 |  |  | $4.00 | — | $8.55

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624163-113959 + Details
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