Annual report pursuant to Section 13 and 15(d)

Derivative Financial Instruments (Tables)

v2.4.1.9
Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2014
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Estimated Fair Value of Derivative Contracts

The following balance sheet line items included amounts related to the estimated fair value of our open derivative contracts as indicated in the following table (in thousands):

 

December 31,

 

 

2014

 

 

2013

 

Prepaid and other assets

$

 

 

$

141

 

Accrued liabilities

 

 

 

 

9,423

 

 

Changes in Fair Value of Commodity Derivative Contracts Recognized in Earnings

Changes in the fair value of our commodity derivative contracts are recognized currently in earnings and were as follows (in thousands):

 

Year Ended December 31,

 

 

2014

 

 

2013

 

 

2012

 

Derivative (gain) loss:

$

(3,965

)

 

$

8,470

 

 

$

13,954

 

 

Cash Payments on Derivative Settlements, Net Included within Net Cash Provided by Operating Activities

Cash payments on derivative settlements, net, are included within Net cash provided by operating activities on the Consolidated Statements of Cash Flows and were as follows (in thousands):

 

Year Ended December 31,

 

 

2014

 

 

2013

 

 

2012

 

Cash payments on derivative settlements, net

$

5,318

 

 

$

8,589

 

 

$

7,664

 

 

Reconciliation of Gross Assets and Liabilities and Netting Agreements on Fair Value of Open Derivative Contracts

There were no open derivative contracts as of December 31, 2014.  The following table provides a reconciliation of the gross assets and liabilities reflected in the balance sheet and the potential effects of master netting agreements on the fair value of open derivative contracts as of December 31, 2013 (in thousands):

 

December 31, 2013

 

 

Derivative

 

 

Derivative

 

 

Assets

 

 

Liabilities

 

Gross amounts presented in the balance sheet

$

141

 

 

$

9,423

 

Amounts not offset in the balance sheet

 

(141

)

 

 

(141

)

Net Amounts

$

 

 

$

9,282