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Commodity Price Risk Management (Tables) | 3 Months Ended
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Mar. 31, 2014
Commodity Price Risk Management [Abstract] |
Commodity derivative contracts | Energy One's commodity derivative contracts as of March 31, 2014 are summarized below:
|  |  |  |  |  | Quantity |  |  |  |  |
Settlement Period |  | Counterparty |  | Basis |  | (Bbls/day) |  | Strike Price |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |
01/01/14 - 06/30/14 |  | Wells Fargo |  | WTI |  |  | 300 |  | Put: |  | $ | 90.00 |
|  |  |  |  |  |  |  |  | Call: |  | $ | 95.00 |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |  |  |
01/01/14 - 06/30/14 |  | Wells Fargo |  | WTI |  |  | 300 |  | Put: |  | $ | 90.00 |
|  |  |  |  |  |  |  |  | Call: |  | $ | 97.25 |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |  |  |
07/01/14 - 12/31/14 |  | Wells Fargo |  | WTI |  |  | 300 |  | Put: |  | $ | 90.00 |
|  |  |  |  |  |  |  |  | Call: |  | $ | 98.40 |
Crude Oil Costless Collar |  |  |  |  |  |  |  |  |  |  |  |  |
07/01/14 - 12/31/14 |  | Wells Fargo |  | WTI |  |  | 300 |  | Put: |  | $ | 90.00 |
|  |  |  |  |  |  |  |  | Call: |  | $ | 97.40 |
Fair value of derivatives recorded in applicable consolidated balance sheet, by category | The following table details the fair value of the Company’s derivative instruments, including the gross amounts and adjustments made to net the derivative instruments for the presentation in the consolidated balance sheet (in thousands):
|  |  | As of March 31, 2014 |
Underlying Commodity | Location on Balance Sheet |  | Gross amounts of recognized assets and liabilities |  |  | Gross amounts offset in the condensed consolidated balance sheet |  |  | Net amounts of assets and liabilities presented in the condensed consolidated balance sheet |
Crude oil derivative contract | Current assets |  | $ | 280 |  |  | $ | (280 | ) |  | $ | -- |
Crude oil derivative contract | Current liabilities |  | $ | 719 |  |  | $ | (280 | ) |  | $ | 439 |
|  |  | As of December 31, 2013 |
Underlying Commodity | Location on Balance Sheet |  | Gross amounts of recognized assets and liabilities |  |  | Gross amounts offset in the condensed consolidated balance sheet |  |  | Net amounts of assets and liabilities presented in the condensed consolidated balance sheet |
Crude oil derivative contract | Current assets |  | $ | 345 |  |  | $ | (331 | ) |  | $ | 14 |
Crude oil derivative contract | Current liabilities |  | $ | 611 |  |  | $ | (331 | ) |  | $ | 280 |
Schedule of unrealized and realized derivative gain loss | The following table summarizes the unrealized and realized gains and losses presented in the accompanying statements of operations:
|  | (In thousands) |
|  | For the three months ended March 31, |
|  | 2014 |  |  | 2013 |
Realized derivative gain (loss) |  | $ | (158 | ) |  | $ | 14 |
Unrealized derivative gain (loss) |  | $ | (173 | ) |  | $ | (616 | )
Total realized and unrealized derivative gain (loss) |  | $ | (331 | ) |  | $ | (602 | )

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