v3.5.0.2

Derivative Instruments and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Outstanding Commodity Derivatives Volumes and Prices

The following table provides our outstanding commodity derivative positions at September 30, 2016.

Commodity and Period		Contract Type		Volume Transacted		Contract Price
Crude Oil
October 2016 – December 2016		Swap		500 Bbls/d		$62.50/Bbl
October 2016 – December 2016		Swap		250 Bbls/d		$62.55/Bbl
Natural Gas
October 2016 – December 2016		Swap		100,000 MMBtu/month		$2.91/MMBtu
October 2016 – December 2016		Swap		100,000 MMBtu/month		$2.95/MMBtu
October 2016 – March 2017		Swap		100,000 MMBtu/month		$2.463/MMBtu
October 2016 – March 2017		Swap		300,000 MMBtu/month		$2.45/MMBtu
April 2017 – December 2017		Collar		200,000 MMBtu/month		$2.30/MMBtu - $2.60/MMBtu
November 2016 – March 2017		Swap		200,000 MMBtu/month		$3.287/MMBtu

Summary of Fair Value of Open Commodity Derivatives

The following table summarizes the fair value of our open commodity derivatives as of September 30, 2016, and December 31, 2015 (in thousands).

		Asset Derivatives										Liability Derivatives
		Balance Sheet Location		Fair Value								Balance Sheet Location		Fair Value
				September 30,				December 31,						September 30,				December 31,
				2016				2015						2016				2015
Derivatives not designated as hedging instruments
Commodity derivatives		Unrealized gain on commodity derivatives		$	1,057			$	6,737			Unrealized loss on commodity derivatives		$	(2,594	)		$	—

Summary of Change in Fair Value of Commodity Derivatives

The following table summarizes the change in the fair value of our commodity derivatives (in thousands).

		Income Statement Location		Three Months Ended								Nine Months Ended
				September 30,								September 30,
				2016				2015				2016				2015
Derivatives not designated as hedging instruments
Commodity derivatives		Unrealized gain (loss) on commodity derivatives		$	760			$	296			$	(8,273	)		$	(22,929	)
		Realized gain on commodity derivatives			781				12,755				5,690				37,937
				$	1,541			$	13,051			$	(2,583	)		$	15,008

Summary of Financial Instruments Not Recorded at Fair Value

The following table sets forth the fair values of financial instruments that are not recorded at fair value on our financial statements (in thousands).

		September 30, 2016
		Carrying Amount				Fair Value
Senior Notes		$	226,450			$	184,509

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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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

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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

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Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the 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 4C
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

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