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Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value of Derivatives | The following table presents the fair value of the Company’s derivative contracts as of March 31, 2014 and December 31, 2013 on a gross basis without regard to same-counterparty netting (in thousands):
Type of Contract |  | Balance Sheet Classification |  | March 31, 2014 |  | December 31, 2013
Derivative assets |  |  |  |  |  |
Oil price swaps |  | Derivative contracts-current |  | $ | 9,952 |  |  | $ | 15,887 |
Natural gas price swaps |  | Derivative contracts-current |  | 1,090 |  |  | 1,598 |
Oil collars - three way |  | Derivative contracts-current |  | 1,605 |  |  | 706 |
Natural gas collars |  | Derivative contracts-current |  | 108 |  |  | 177 |
Oil price swaps |  | Derivative contracts-noncurrent |  | 8,534 |  |  | 19,376 |
Natural gas price swaps |  | Derivative contracts-noncurrent |  | 791 |  |  | — |
Oil collars - three way |  | Derivative contracts-noncurrent |  | 8,466 |  |  | 12,189 |
Natural gas collars |  | Derivative contracts-noncurrent |  | 257 |  |  | 341 |
Derivative liabilities |  |  |  |  |  |
Oil price swaps |  | Derivative contracts-current |  | (3,181 | ) |  | (38,396 | )
Natural gas price swaps |  | Derivative contracts-current |  | (7,634 | ) |  | (1,460 | )
Oil collars - three way |  | Derivative contracts-current |  | (7,113 | ) |  | — |
Oil price swaps |  | Derivative contracts-noncurrent |  | — |  |  | (38,344 | )
Total net derivative contracts |  | $ | 12,875 |  |  | $ | (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 net derivative liability positions, the applicable portion of shared collateral under the senior credit facility (for SandRidge's derivative contracts) and under liens granted on royalty interests (for the Permian Trust’s and the Mississippian Trust II’s novated derivative contracts) (in thousands): March 31, 2014
|  | Gross Amounts |  | Gross Amounts Offset |  | Amounts Net of Offset |  | Financial Collateral |  | Net Amount
Assets |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 12,755 |  |  | $ | (3,753 | ) |  | $ | 9,002 |  |  | $ | — |  |  | $ | 9,002 |
Derivative contracts - noncurrent |  | 18,048 |  |  | — |  |  | 18,048 |  |  | — |  |  | 18,048 |
Total |  | $ | 30,803 |  |  | $ | (3,753 | ) |  | $ | 27,050 |  |  | $ | — |  |  | $ | 27,050 |
Liabilities |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 17,928 |  |  | $ | (3,753 | ) |  | $ | 14,175 |  |  | $ | (14,175 | ) |  | $ | — |
Total |  | $ | 17,928 |  |  | $ | (3,753 | ) |  | $ | 14,175 |  |  | $ | (14,175 | ) |  | $ | — |
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 March 31, 2014, the Company’s open commodity derivative contracts consisted of the following: Oil Price Swaps
| Notional (MBbls) |  | Weighted Average Fixed Price
April 2014 - December 2014 | 2,936 |  |  | $ | 99.45 |
January 2015 - December 2015 | 5,314 |  |  | $ | 92.55 |
Natural Gas Price Swaps
| Notional (MMcf) |  | Weighted Average Fixed Price
April 2014 - December 2014 | 38,490 |  |  | $ | 4.27 |
January 2015 - December 2015 | 15,400 |  |  | $ | 4.50 |
Oil Collars - Three-way
| Notional (MBbls) |  | Sold Put | Purchased Put | Sold Call
April 2014 - December 2014 | 6,066 |  |  | $70.00 | $90.21 | $100.00
January 2015 - December 2015 | 2,920 |  |  | $73.13 | $90.82 | $103.13
Natural Gas Collars
| Notional (MMcf) |  | Collar Range
April 2014 - December 2014 | 706 |  |  | $4.00 | — | $7.78
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=7476318&loc=SL5624163-113959 + Details
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