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Variable Interest Entities (Tables) | 12 Months Ended
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Dec. 31, 2015
Variable Interest Entity [Line Items] |
Royalty Trusts Distributions | The following distributions will be paid on February 26, 2016 to holders of record as of the close of business on February 12, 2016 (in thousands):
Royalty Trust |  | Total Distribution |  | Amount to be Distributed to Third-Party Unitholders
Mississippian Trust I |  | $ | 8,708 |  |  | $ | 6,367 |
Permian Trust |  | 7,560 |  |  | 7,560 |
Mississippian Trust II |  | 6,825 |  |  | 5,682 |
Total |  | $ | 23,093 |  |  | $ | 19,609 |
Royalty Trusts |
Variable Interest Entity [Line Items] |
Schedule of Royalty Trust Units By Class | Common and subordinated units outstanding as of December 31, 2015 and 2014 for each Royalty Trust are as follows:
|  | Mississippian Trust I (1) |  | Permian Trust |  | Mississippian Trust II
Total outstanding common units |  | 28,000,000 |  |  | 39,375,000 |  |  | 37,293,750 |
Total outstanding subordinated units(2) |  | — |  |  | 13,125,000 |  |  | 12,431,250 |
____________________
(1) | The Mississippian Trust I’s previously outstanding subordinated units, all of which were held by SandRidge, converted to common units on July 1, 2014.
(2) | All outstanding subordinated units are owned by SandRidge.
Royalty Trusts Ownership Interest | The Company’s beneficial interest in the Royalty Trusts at December 31, 2015 and 2014 were as follows:
Mississippian Trust I | 26.9 | %
Permian Trust | 25.0 | %
Mississippian Trust II | 37.6 | %
Royalty Trusts Distributions | Quarterly distributions declared and paid by the Royalty Trusts during the years ended December 31, 2015, 2014 and 2013 as follows (in thousands):
|  | Year Ended December 31,
|  | 2015(1) |  | 2014(2) |  | 2013(3)
Total distributions |  | $ | 158,632 |  |  | $ | 234,326 |  |  | $ | 299,674 |
Distributions to third-party unitholders |  | $ | 138,305 |  |  | $ | 193,807 |  |  | $ | 206,470 |
____________________
(1) | Subordination thresholds were not met for the Permian Trust and Mississippian Trust II’s distributions for the year ended December 31, 2015, resulting in reduced distributions to the Company on its subordinated units for this period.
(2) | Subordination thresholds were not met for the Mississippian Trust I’s first or second quarter 2014 distributions, the Permian Trust’s second, third or fourth quarter 2014 distributions or for the Mississippian Trust II’s distributions for the year ended December 31, 2014, resulting in reduced distributions to the Company on its subordinated units for these periods.
(3) | Subordination thresholds were not met for the Mississippian Trust I’s second, third or fourth quarter 2013 distributions, the Permian Trust’s second quarter 2013 distribution or for the Mississippian Trust II’s fourth quarter 2013 distribution, resulting in reduced distributions to the Company on its subordinated units for these periods.
Assets and Liabilities Included in Consolidated Balance Sheets | The Royalty Trusts’ assets and liabilities, after considering the effects of intercompany eliminations, included in the accompanying consolidated balance sheets at December 31, 2015 and 2014 consisted of the following (in thousands):
| December 31,
| 2015 |  | 2014
Cash and cash equivalents(1) | $ | 7,824 |  |  | $ | 9,387 |
Accounts receivable | 4,457 |  |  | 17,660 |
Derivative contracts | — |  |  | 6,589 |
Total current assets | 12,281 |  |  | 33,636 |
Investment in royalty interests(2) | 1,325,942 |  |  | 1,325,942 |
Less: accumulated depletion and impairment(3) | (1,248,957 | ) |  | (284,094 | )
| 76,985 |  |  | 1,041,848 |
Total assets | $ | 89,266 |  |  | $ | 1,075,484 |
Accounts payable and accrued expenses | $ | 1,060 |  |  | $ | 2,852 |
Total liabilities | $ | 1,060 |  |  | $ | 2,852 |
____________________
(1) | Includes $3.0 million held by the trustee at December 31, 2015 and 2014 as reserves for future general and administrative expenses.
(2) | Investment in royalty interests is included in oil and natural gas properties in the accompanying consolidated balance sheets.
(3) | Includes cumulative full cost ceiling limitation impairment of $976.2 million and $42.3 million at December 31, 2015 and 2014, respectively.
Pinon Gathering Company LLC |
Variable Interest Entity [Line Items] |
Amounts Due To/From PGC | Amounts due from and due to PGC as of December 31, 2014 included in the accompanying consolidated balance sheet are as follows (in thousands):
| December 31, 2014
Accounts receivable due from PGC | $ | 1,141 |
Accounts payable due to PGC | $ | 4,163 |

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