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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2015
Fair Value Disclosures [Abstract] |
Significant Unobservable Inputs - Derivative Contracts | The significant unobservable inputs and the range and weighted average of these inputs used in the fair value measurements of the Company’s natural gas basis swaps at December 31, 2015 and 2014 are included in the table below.
Unobservable Input |  | Range |  | Weighted Average |  | Fair Value
|  | (Price per Mcf) |  | (In thousands)
December 31, 2015 |  |  |  |  |  |  |  |
Natural gas basis differential forward curve |  | $ | (0.06 | ) | – | $ | (0.28 | ) |  | $ | (0.22 | ) |  | $ | (1,748 | )
December 31, 2014 |  |  |  |  |  |  |  |
Natural gas basis differential forward curve |  | $ | (0.03 | ) | – | $ | (0.38 | ) |  | $ | (0.29 | ) |  | $ | 350 |
Significant Unobservable Inputs - Liabilities | The significant unobservable inputs and range and weighted average of these inputs used in the fair value measurement of the conversion features at December 31, 2015 are included in the table below.
Unobservable Input |  | Range |  | Weighted Average |  | Fair Value
|  |  |  | (In thousands)
December 31, 2015 |  |  |  |  |  |  |  |
Long-term debt conversion feature hazard rate |  | 114.0 | % | – | 135.2 | % |  | 119.2 | % |  | $ | 29,355 |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis by the fair value hierarchy (in thousands): December 31, 2015
| Fair Value Measurements |  | Netting(1) |  | Assets/Liabilities at Fair Value
| Level 1 |  | Level 2 |  | Level 3 |  |
Assets |  |  |  |  |  |  |  |  |
Commodity derivative contracts | $ | — |  |  | $ | 85,524 |  |  | $ | — |  |  | $ | (1,175 | ) |  | $ | 84,349 |
Investments | 10,106 |  |  | — |  |  | — |  |  | — |  |  | 10,106 |
| $ | 10,106 |  |  | $ | 85,524 |  |  | $ | — |  |  | $ | (1,175 | ) |  | $ | 94,455 |
Liabilities |  |  |  |  |  |  |  |  |
Commodity derivative contracts | $ | — |  |  | $ | — |  |  | $ | 1,748 |  |  | $ | (1,175 | ) |  | $ | 573 |
Long-term debt holder conversion feature | — |  |  | — |  |  | 29,355 |  |  | — |  |  | 29,355 |
Mandatory prepayment feature - PGC Senior Secured Notes | — |  |  | 2,941 |  |  | — |  |  | — |  |  | 2,941 |
| $ | — |  |  | $ | 2,941 |  |  | $ | 31,103 |  |  | $ | (1,175 | ) |  | $ | 32,869 |
December 31, 2014
| Fair Value Measurements |  | Netting(1) |  | Assets/Liabilities at Fair Value
| Level 1 |  | Level 2 |  | Level 3 |  |
Assets |  |  |  |  |  |  |  |  |
Commodity derivative contracts | $ | — |  |  | $ | 338,067 |  |  | $ | 350 |  |  | $ | — |  |  | $ | 338,417 |
Investments | 11,106 |  |  | — |  |  | — |  |  | — |  |  | 11,106 |
| $ | 11,106 |  |  | $ | 338,067 |  |  | $ | 350 |  |  | $ | — |  |  | $ | 349,523 |
Liabilities |  |  |  |  |  |  |  |  |
Guarantee | $ | — |  |  | $ | — |  |  | $ | 5,104 |  |  | $ | — |  |  | $ | 5,104 |
| $ | — |  |  | $ | — |  |  | $ | 5,104 |  |  | $ | — |  |  | $ | 5,104 |
____________________ (1)Represents the impact of netting assets and liabilities with counterparties with which the right of offset exists.
Fair Value, Reconciliation of Level 3 Fair Value Measurements for Commodity Derivatives | The table below sets forth a reconciliation of the Company’s Level 3 fair value measurements for commodity derivative contracts during the years ended December 31, 2015, 2014 and 2013 (in thousands):
Level 3 Fair Value Measurements - Commodity Derivative Contracts | 2015 |  | 2014 |  | 2013
Beginning balance | $ | 350 |  |  | $ | — |  |  | $ | (512 | )
Loss on commodity derivative contracts | (350 | ) |  | — |  |  | (133 | )
Purchases | (1,748 | ) |  | 350 |  |  | — |
Settlements paid | — |  |  | — |  |  | 645 |
Level 3 commodity derivative contracts at December 31 | $ | (1,748 | ) |  | $ | 350 |  |  | $ | — |
Fair Value, Reconciliation of Level 3 Fair Value Measurements - Liabilities | The table below sets forth a reconciliation of the Company’s Level 3 fair value measurements for guarantees during the years ended December 31, 2015 and 2014 (in thousands):
Level 3 Fair Value Measurements - Guarantee | 2015 |  | 2014
Beginning balance | $ | 5,104 |  |  | $ | — |
Issuances | — |  |  | 9,446 |
Loss on guarantee | — |  |  | (4,342 | )
Settlements | (5,104 | ) |  | — |
Ending balance | $ | — |  |  | $ | 5,104 |
The table below sets forth a reconciliation of the Company’s Level 3 fair value measurements for long-term debt holder conversion features during the year ended December 31, 2015 (in thousands):
Level 3 Fair Value Measurements - Long-Term Debt Holder Conversion Feature |  |
Beginning balance |  | $ | — |
Issuances |  | 31,200 |
Gain on derivative holder conversion feature |  | 10,198 |
Conversions |  | (12,043 | )
Ending balance |  | $ | 29,355 |
Estimated Fair Value and Carrying Value of Senior Notes | The estimated fair values and carrying values of the Company’s senior notes at December 31, 2015 and 2014 were as follows (in thousands):
| December 31, 2015 |  | December 31, 2014
| Fair Value |  | Carrying Value |  | Fair Value |  | Carrying Value
8.75% Senior Secured Notes due 2020(1) | $ | 403,098 |  |  | $ | 1,301,098 |  |  | $ | — |  |  | $ | — |
Senior Unsecured Notes |  |  |  |  |  |  |
8.75% Senior Notes due 2020(2) | $ | 39,740 |  |  | $ | 392,666 |  |  | $ | 303,750 |  |  | $ | 445,402 |
7.5% Senior Notes due 2021(3) | $ | 79,812 |  |  | $ | 759,711 |  |  | $ | 752,000 |  |  | $ | 1,178,486 |
8.125% Senior Notes due 2022 | $ | 57,749 |  |  | $ | 527,737 |  |  | $ | 472,500 |  |  | $ | 750,000 |
7.5% Senior Notes due 2023(4) | $ | 58,799 |  |  | $ | 541,572 |  |  | $ | 519,750 |  |  | $ | 821,548 |
Convertible Senior Unsecured Notes |  |  |  |  |  |  |
8.125% Convertible Senior Notes due 2022(5) | $ | 44,199 |  |  | $ | 82,294 |  |  | $ | — |  |  | $ | — |
7.5% Convertible Senior Notes due 2023(6) | $ | 15,125 |  |  | $ | 26,428 |  |  | $ | — |  |  | $ | — |
___________________
(1) | Carrying value includes mandatory prepayment feature liabilities with fair value of $2,941 and is net of $29,842 discount at December 31, 2015.
(2) | Carrying value is net of $3,269 and $4,598 discount at December 31, 2015 and 2014, respectively.
(3) | Carrying value includes a premium of $1,944 and $3,486 at December 31, 2015 and 2014, respectively.
(4) | Carrying value is net of $1,989 and $3,452 discount at December 31, 2015 and 2014, respectively.
(5) | Carrying value includes holder conversion feature liabilities with fair value of $21,874 and is net of $180,751 discount at December 31, 2015.
(6) | Carrying value includes holder conversion feature liabilities with fair value of $7,481 and is net of $59,549 discount at December 31, 2015.

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