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Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Offsetting Assets and Liabilities | The following tables summarize (i) the Company's commodity 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 (in thousands): September 30, 2016
|  | Gross Amounts |  | Gross Amounts Offset |  | Amounts Net of Offset |  | Financial Collateral |  | Net Amount
Assets |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 11,319 |  |  | $ | (1,127 | ) |  | $ | 10,192 |  |  | $ | — |  |  | $ | 10,192 |
Derivative contracts - noncurrent |  | 110 |  |  | (40 | ) |  | 70 |  |  | — |  |  | 70 |
Total |  | $ | 11,429 |  |  | $ | (1,167 | ) |  | $ | 10,262 |  |  | $ | — |  |  | $ | 10,262 |
Liabilities |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 4,109 |  |  | $ | (1,127 | ) |  | $ | 2,982 |  |  | $ | (2,982 | ) |  | $ | — |
Derivative contracts - noncurrent |  | 975 |  |  | (40 | ) |  | 935 |  |  | (935 | ) |  | — |
Total |  | $ | 5,084 |  |  | $ | (1,167 | ) |  | $ | 3,917 |  |  | $ | (3,917 | ) |  | $ | — |
December 31, 2015
|  | Gross Amounts |  | Gross Amounts Offset |  | Amounts Net of Offset |  | Financial Collateral |  | Net Amount
Assets |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 85,524 |  |  | $ | (1,175 | ) |  | $ | 84,349 |  |  | $ | — |  |  | $ | 84,349 |
Derivative contracts - noncurrent |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 85,524 |  |  | $ | (1,175 | ) |  | $ | 84,349 |  |  | $ | — |  |  | $ | 84,349 |
Liabilities |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 1,748 |  |  | $ | (1,175 | ) |  | $ | 573 |  |  | $ | (573 | ) |  | $ | — |
Derivative contracts - noncurrent |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 1,748 |  |  | $ | (1,175 | ) |  | $ | 573 |  |  | $ | (573 | ) |  | $ | — |
Open Oil and Natural Gas Commodity Derivative Contracts | At September 30, 2016, the Company’s open commodity derivative contracts consisted of the following: Oil Price Swaps
| Notional (MBbls) |  | Weighted Average Fixed Price
October 2016 - December 2016 | 1,288 |  |  | $ | 56.45 |
January 2017 - December 2017 | 1,825 |  |  | $ | 50.51 |
Natural Gas Price Swaps
| Notional (MMcf) |  | Weighted Average Fixed Price
October 2016 - December 2016 | 10,920 |  |  | $ | 2.86 |
January 2017 - December 2017 | 18,250 |  |  | $ | 3.12 |
Natural Gas Basis Swaps
| Notional (MMcf) |  | Weighted Average Fixed Price
October 2016 - December 2016 | 920 |  |  | $ | (0.38 | )
Fair Value of Derivatives | The following table presents the fair value of the Company’s derivative contracts as of September 30, 2016 and December 31, 2015 on a gross basis without regard to same-counterparty netting (in thousands):
Type of Contract |  | Balance Sheet Classification |  | September 30, 2016 |  | December 31, 2015
Derivative assets |  |  |  |  |  |
Oil price swaps |  | Derivative contracts-current |  | $ | 10,812 |  |  | $ | 68,224 |
Oil collars - three way |  | Derivative contracts-current |  | — |  |  | 17,300 |
Natural gas price swaps |  | Derivative contracts-current |  | 507 |  |  | — |
Natural gas price swaps |  | Derivative contracts-noncurrent |  | 110 |  |  | — |
Derivative liabilities |  |  |  |  |  |
Oil price swaps |  | Derivative contracts-current |  | (2,415 | ) |  | — |
Natural gas price swaps |  | Derivative contracts-current |  | (1,524 | ) |  | — |
Natural gas basis swaps |  | Derivative contracts-current |  | (170 | ) |  | (1,748 | )
Debt holder conversion feature |  | Current maturities of long-term debt |  | — |  |  | (29,355 | )
Mandatory prepayment feature - PGC Senior Secured Notes |  | Current maturities of long-term debt |  | — |  |  | (2,941 | )
Oil price swaps |  | Derivative contracts-noncurrent |  | (941 | ) |  | — |
Natural gas price swaps |  | Derivative contracts-noncurrent |  | (34 | ) |  | — |
Total net derivative contracts |  | $ | 6,345 |  |  | $ | 51,480 |

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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=64837297&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579245-113959 + Details
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