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Accounting for Derivative Instruments (Tables) | 3 Months Ended
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Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the net notional volume buy/(sell) of the Company’s open derivative financial instruments accounted for at fair value, broken out by commodity, as of (in thousands): Non-trading
Commodity | Notional |  | March 31, 2017 |  | December 31, 2016
Natural Gas | MMBtu |  | 9,136 |  |  | 8,016 |
Natural Gas Basis | MMBtu |  | — |  |  | — |
Electricity | MWh |  | 4,276 |  |  | 3,958 |
Trading
Commodity | Notional |  | March 31, 2017 |  | December 31, 2016
Natural Gas | MMBtu |  | 108 |  |  | (953 | )
Natural Gas Basis | MMBtu |  | — |  |  | (380 | )
Gains (Losses) on Derivative Instruments | Gains (losses) on derivative instruments, net and current period settlements on derivative instruments were as follows for the periods indicated (in thousands):
| Three Months Ended March 31,
| 2017 |  | 2016
Gain (loss) on non-trading derivatives, net | $ | 2,519 |  |  | $ | (5,876 | )
Gain (loss) on trading derivatives, net | 368 |  |  | (242 | )
Loss on derivatives, net | 2,887 |  |  | (6,118 | )
Current period settlements on non-trading derivatives (1) (2) | 3,341 |  |  | 12,643 |
Current period settlements on trading derivatives | 86 |  |  | 244 |
Total current period settlements on derivatives | $ | 3,427 |  |  | $ | 12,887 |
(1) | Excludes settlements of $0.6 million and $2.2 million, respectively, for the three months ended March 31, 2017 and 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis.
(2) | Excludes settlements of $14.7 million for the three months ended March 31, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies.
| Three Months Ended March 31,
| 2017 |  | 2016
Loss on non-trading derivatives, net | (21,037 | ) |  | $ | (9,620 | )
Loss on trading derivatives, net | (419 | ) |  | (129 | )
Loss on derivatives, net | (21,456 | ) |  | (9,749 | )
Current period settlements on non-trading derivatives (1) (2) | 7,574 |  |  | 11,277 |
Current period settlements on trading derivatives | (160 | ) |  | (5 | )
Total current period settlements on derivatives | $ | 7,414 |  |  | $ | 11,272 |
(1) | Excludes settlements of less than $0.1 million and $(0.8) million, respectively, for the three months ended March 31, 2017 and 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis.
(2) | Excludes settlements of $(1.3) million for the three months ended March 31, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies.
Offsetting Assets | The following tables summarize the fair value and offsetting amounts of the Company’s derivative instruments by counterparty and collateral received or paid as of (in thousands):
| March 31, 2017
Description | Gross Assets |  | Gross Amounts Offset |  | Net Assets |  | Cash Collateral Offset |  | Net Amount Presented
Non-trading commodity derivatives | $ | 4,436 |  |  | $ | (2,056 | ) |  | $ | 2,380 |  |  | $ | — |  |  | $ | 2,380 |
Trading commodity derivatives | (23 | ) |  | 31 |  |  | 8 |  |  | — |  |  | 8 |
Total Current Derivative Assets | 4,413 |  |  | (2,025 | ) |  | 2,388 |  |  | — |  |  | 2,388 |
Non-trading commodity derivatives | 60 |  |  | (60 | ) |  | — |  |  | — |  |  | — |
Total Non-current Derivative Assets | 60 |  |  | (60 | ) |  | — |  |  | — |  |  | — |
Total Derivative Assets | $ | 4,473 |  |  | $ | (2,085 | ) |  | $ | 2,388 |  |  | $ | — |  |  | $ | 2,388 |
| December 31, 2016
Description | Gross Assets |  | Gross Amounts Offset |  | Net Assets |  | Cash Collateral Offset |  | Net Amount Presented
Non-trading commodity derivatives | $ | 19,657 |  |  | $ | (11,844 | ) |  | $ | 7,813 |  |  | $ | — |  |  | $ | 7,813 |
Trading commodity derivatives | 614 |  |  | (83 | ) |  | 531 |  |  | — |  |  | 531 |
Total Current Derivative Assets | 20,271 |  |  | (11,927 | ) |  | 8,344 |  |  | — |  |  | 8,344 |
Non-trading commodity derivatives | 7,874 |  |  | (4,791 | ) |  | 3,083 |  |  | — |  |  | 3,083 |
Total Non-current Derivative Assets | 7,874 |  |  | (4,791 | ) |  | 3,083 |  |  | — |  |  | 3,083 |
Total Derivative Assets | $ | 28,145 |  |  | $ | (16,718 | ) |  | $ | 11,427 |  |  | $ | — |  |  | $ | 11,427 |
| December 31, 2016
Description | Gross Assets |  | Gross Amounts Offset |  | Net Assets |  | Cash Collateral Offset |  | Net Amount Presented
Non-trading commodity derivatives | $ | 19,657 |  |  | $ | (11,844 | ) |  | $ | 7,813 |  |  | $ | — |  |  | $ | 7,813 |
Trading commodity derivatives | 614 |  |  | (83 | ) |  | 531 |  |  | — |  |  | 531 |
Total Current Derivative Assets | 20,271 |  |  | (11,927 | ) |  | 8,344 |  |  | — |  |  | 8,344 |
Non-trading commodity derivatives | 7,874 |  |  | (4,791 | ) |  | 3,083 |  |  | — |  |  | 3,083 |
Total Non-current Derivative Assets | 7,874 |  |  | (4,791 | ) |  | 3,083 |  |  | — |  |  | 3,083 |
Total Derivative Assets | $ | 28,145 |  |  | $ | (16,718 | ) |  | $ | 11,427 |  |  | $ | — |  |  | $ | 11,427 |
The following tables summarize the fair value and offsetting amounts of the Company’s derivative instruments by counterparty and collateral received or paid as of (in thousands):
| March 31, 2017
Description | Gross Assets |  | Gross Amounts Offset |  | Net Assets |  | Cash Collateral Offset |  | Net Amount Presented
Non-trading commodity derivatives | $ | 4,436 |  |  | $ | (2,056 | ) |  | $ | 2,380 |  |  | $ | — |  |  | $ | 2,380 |
Trading commodity derivatives | (23 | ) |  | 31 |  |  | 8 |  |  | — |  |  | 8 |
Total Current Derivative Assets | $ | 4,413 |  |  | $ | (2,025 | ) |  | $ | 2,388 |  |  | $ | — |  |  | $ | 2,388 |
Non-trading commodity derivatives | $ | 60 |  |  | $ | (60 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |
Total Non-current Derivative Assets | $ | 60 |  |  | $ | (60 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |
Total Derivative Assets | $ | 4,473 |  |  | $ | (2,085 | ) |  | $ | 2,388 |  |  | $ | — |  |  | $ | 2,388 |
Offsetting Liabilities |
| March 31, 2017
Description | Gross Liabilities |  | Gross Amounts Offset |  | Net Liabilities |  | Cash Collateral Offset |  | Net Amount Presented
Non-trading commodity derivatives | $ | (11,015 | ) |  | $ | 9,012 |  |  | $ | (2,003 | ) |  | $ | 300 |  |  | $ | (1,703 | )
Trading commodity derivatives | (20 | ) |  | — |  |  | (20 | ) |  | — |  |  | (20 | )
Total Current Derivative Liabilities | (11,035 | ) |  | 9,012 |  |  | (2,023 | ) |  | 300 |  |  | (1,723 | )
Non-trading commodity derivatives | (7,605 | ) |  | 2,765 |  |  | (4,840 | ) |  | — |  |  | (4,840 | )
Total Non-current Derivative Liabilities | (7,845 | ) |  | 2,881 |  |  | (4,964 | ) |  | — |  |  | (4,964 | )
Total Derivative Liabilities | $ | (18,880 | ) |  | $ | 11,893 |  |  | $ | (6,987 | ) |  | $ | 300 |  |  | $ | (6,687 | )
| December 31, 2016
Description | Gross Liabilities |  | Gross Amounts Offset |  | Net Liabilities |  | Cash Collateral Offset |  | Net Amount Presented
Non-trading commodity derivatives | $ | (662 | ) |  | $ | 69 |  |  | $ | (593 | ) |  | $ | — |  |  | $ | (593 | )
Trading commodity derivatives | (92 | ) |  | 5 |  |  | (87 | ) |  | — |  |  | (87 | )
Total Current Derivative Liabilities | (754 | ) |  | 74 |  |  | (680 | ) |  | — |  |  | (680 | )
Non-trading commodity derivatives | (305 | ) |  | 237 |  |  | (68 | ) |  | — |  |  | (68 | )
Total Non-current Derivative Liabilities | (305 | ) |  | 237 |  |  | (68 | ) |  | — |  |  | (68 | )
Total Derivative Liabilities | $ | (1,059 | ) |  | $ | 311 |  |  | $ | (748 | ) |  | $ | — |  |  | $ | (748 | )
| December 31, 2016
Description | Gross Liabilities |  | Gross Amounts Offset |  | Net Liabilities |  | Cash Collateral Offset |  | Net Amount Presented
Non-trading commodity derivatives | $ | (662 | ) |  | $ | 69 |  |  | $ | (593 | ) |  | $ | — |  |  | $ | (593 | )
Trading commodity derivatives | (92 | ) |  | 5 |  |  | (87 | ) |  | — |  |  | (87 | )
Total Current Derivative Liabilities | (754 | ) |  | 74 |  |  | (680 | ) |  | — |  |  | (680 | )
Non-trading commodity derivatives | (305 | ) |  | 237 |  |  | (68 | ) |  | — |  |  | (68 | )
Total Non-current Derivative Liabilities | (305 | ) |  | 237 |  |  | (68 | ) |  | — |  |  | (68 | )
Total Derivative Liabilities | $ | (1,059 | ) |  | $ | 311 |  |  | $ | (748 | ) |  | $ | — |  |  | $ | (748 | )
| March 31, 2017
Description | Gross Liabilities |  | Gross Amounts Offset |  | Net Liabilities |  | Cash Collateral Offset |  | Net Amount Presented
Non-trading commodity derivatives | $ | (11,015 | ) |  | $ | 9,012 |  |  | $ | (2,003 | ) |  | $ | 300 |  |  | $ | (1,703 | )
Trading commodity derivatives | (20 | ) |  | — |  |  | (20 | ) |  | — |  |  | (20 | )
Total Current Derivative Liabilities | $ | (11,035 | ) |  | $ | 9,012 |  |  | $ | (2,023 | ) |  | $ | 300 |  |  | $ | (1,723 | )
Non-trading commodity derivatives | $ | (7,605 | ) |  | $ | 2,765 |  |  | $ | (4,840 | ) |  | $ | — |  |  | $ | (4,840 | )
Trading commodity derivatives | $ | (240 | ) |  | $ | 116 |  |  | $ | (124 | ) |  | $ | — |  |  | $ | (124 | )
Total Non-current Derivative Liabilities | $ | (7,845 | ) |  | $ | 2,881 |  |  | $ | (4,964 | ) |  | $ | — |  |  | $ | (4,964 | )
Total Derivative Liabilities | $ | (18,880 | ) |  | $ | 11,893 |  |  | $ | (6,987 | ) |  | $ | 300 |  |  | $ | (6,687 | )

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