Mid-Con Energy Partners (MCEP) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 03, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	MCEP
Entity Registrant Name	Mid-Con Energy Partners, LP
Entity Central Index Key	1,527,709
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		29,912,230
General Partner Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		360,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 4,019	$ 615
Accounts receivable:
Oil and natural gas sales	5,233	4,551
Other	1,346	5,009
Derivative financial instruments	4,687	24,419
Prepaids and other	427	623
Assets Held-for-sale, net	20,821	0
Total current assets	36,533	35,217
Oil and natural gas properties, successful efforts method:
Proved properties	418,260	518,916
Accumulated depletion, depreciation, amortization and impairment	(165,362)	(232,008)
Total property and equipment, net	252,898	286,908
Derivative financial instruments	0	1,144
Other assets	3,202	3,817
Total assets	292,633	327,086
Accounts payable:
Trade	2,290	3,185
Related parties	620	559
Derivative Liability, Current	443	0
Accrued liabilities	941	165
Current maturities of long-term debt	52,018	30,000
Liabilities related to assets held for sale	2,821	0
Total current liabilities	59,133	33,909
Derivative Liability, Noncurrent	1,231	0
Long-term debt	110,000	150,000
Asset retirement obligations	10,219	12,679
Commitments and contingencies
Partnership equity:
General partner interest	(180)	47
Limited partners- 29,784,015 and 29,724,890 units issued and outstanding as of June 30, 2016 and December 31, 2015, respectively.	112,230	130,451
Total equity	112,050	130,498
Total liabilities and equity	$ 292,633	$ 327,086

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Limited partners, units issued	29,784,015	29,724,890
Limited partners, units outstanding	29,784,015	29,724,890

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Oil sales	$ 14,447,000	$ 21,244,000	$ 25,553,000	$ 38,538,000
Natural gas sales	330,000	367,000	493,000	644,000
Loss on derivatives, net	(10,088,000)	(8,871,000)	(7,520,000)	(7,227,000)
Total revenues	4,689,000	12,740,000	18,526,000	31,955,000
Operating costs and expenses:
Lease operating expenses	5,777,000	7,617,000	11,842,000	16,532,000
Oil and natural gas production taxes	732,000	1,319,000	1,324,000	2,428,000
Impairment of proved oil and natural gas properties	895,000	0	895,000	0
Impairment of assets held for sale	3,578,000	0	3,578,000	0
Depreciation, depletion and amortization	5,800,000	8,191,000	11,885,000	16,037,000
Accretion of discount on asset retirement obligations	159,000	93,000	316,000	185,000
General and administrative	1,478,000	1,637,000	3,566,000	5,278,000
Total operating costs and expenses	18,419,000	18,857,000	33,406,000	40,460,000
Gain on sale of oil and natural gas properties	13,000	0	13,000	0
Loss from operations	(13,717,000)	(6,117,000)	(14,867,000)	(8,505,000)
Other income (expense):
Interest income and other	2,000	3,000	38,000	6,000
Interest expense	(2,054,000)	(1,830,000)	(4,253,000)	(3,557,000)
Total other expense	(2,052,000)	(1,827,000)	(4,215,000)	(3,551,000)
Net loss	(15,769,000)	(7,944,000)	(19,082,000)	(12,056,000)
Allocation of net loss:
General partner's interest in net loss	(188,000)	(95,000)	(227,000)	(145,000)
Limited partners’ interest in net loss	$ (15,581,000)	$ (7,849,000)	$ (18,855,000)	$ (11,911,000)
Net loss per limited partner unit:
Basic and diluted ($ per share)	$ (0.52)	$ (0.26)	$ (0.63)	$ (0.40)
Weighted average limited partner units outstanding:
Limited partner units (basic and diluted) (in shares)	29,785	29,656	29,777	29,572

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows from Operating Activities:
Net loss	$ (19,082)	$ (12,056)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	11,885	16,037
Debt issuance costs amortization	674	559
Accretion of discount on asset retirement obligations	316	185
Impairment of proved oil and natural gas properties	895	0
Impairment of assets held for sale	3,578	0
Loss on derivatives, net	7,520	7,227
Cash settlements received for matured derivatives	17,285	7,183
Cash settlements received for early terminations and modifications of derivatives, net	0	11,069
Cash premiums paid for derivatives, net	(2,257)	(15,266)
Gain on sale of oil and natural gas properties	(13)	0
Non-cash equity-based compensation	650	2,316
Changes in operating assets and liabilities:
Accounts receivable	(682)	1,031
Other receivables	3,822	3,287
Prepaids and other	146	13
Accounts payable and accrued liabilities	162	(2,807)
Net cash provided by operating activities	24,899	18,778
Cash Flows from Investing Activities:
Additions to oil and natural gas properties	(3,495)	(8,628)
Acquisitions of oil and natural gas properties	0	(1)
Proceeds from sale of oil and natural gas properties	7	0
Net cash used in investing activities	(3,488)	(8,629)
Cash Flows from Financing Activities:
Proceeds from line of credit	0	23,000
Payments on line of credit	(17,982)	(28,000)
Offering costs	(16)	(88)
Distributions paid	0	(7,504)
Debt issuance costs	(9)	0
Net cash used in financing activities	(18,007)	(12,592)
Net increase (decrease) in cash and cash equivalents	3,404	(2,443)
Beginning cash and cash equivalents	615	3,232
Ending cash and cash equivalents	4,019	789
Supplemental Cash Flow Information:
Cash paid for interest	3,700	3,039
Non-Cash Investing and Financing Activities:
Accrued capital expenditures - oil and natural gas properties	$ 338	$ 477

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Changes in Equity - 6 months ended Jun. 30, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	General Partner [Member]	Limited Partner [Member]
Balance at Dec. 31, 2015	$ 130,498	$ 47	$ 130,451
Balance, Units at Dec. 31, 2015			29,725
Increase (Decrease) in Partners' Capital [Roll Forward]
Equity-based compensation	650		$ 650
Equity-based compensation, Units			59
Offering costs	(16)		$ (16)
Net loss	(19,082)	(227)	(18,855)
Balance at Jun. 30, 2016	$ 112,050	$ (180)	$ 112,230
Balance, Units at Jun. 30, 2016			29,784

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations Nature of Operations Mid-Con Energy Partners, LP ("we," "our," "us," the "Partnership," the "Company") is a publicly held Delaware limited partnership formed in July 2011 that engages in the ownership, acquisition, exploitation and development of producing oil and natural gas properties in North America, with a focus on enhanced oil recovery ("EOR"). Our limited partner units ("common units") are traded on the National Association of Securities Dealers Automated Quotation System Global Select Market ("NASDAQ") under the symbol "MCEP." Our general partner is Mid-Con Energy GP, LLC, a Delaware limited liability company. Basis of Presentation Our unaudited condensed consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the SEC. These financial statements have not been audited by our independent registered public accounting firm, except that the condensed consolidated balance sheet at December 31, 2015 is derived from the audited financial statements. Accordingly, certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted in this Form 10-Q. We believe that the presentations and disclosures herein are adequate to make the information not misleading. The unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the interim periods. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. These interim financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2015 . All intercompany transactions and account balances have been eliminated. Liquidity and Capital Resources Our ability to finance our operations, fund our capital expenditures and acquisitions, meet or refinance our debt obligations and meet our collateral requirements will depend on our future cash flows. Our ability to generate cash is subject to a number of factors, some of which are beyond our control, including weather, oil and natural gas prices, operating costs and maintenance capital expenditures, as well as general economic, financial, competitive, legislative, regulatory and other factors. Our primary use of cash has been for debt reduction and to fund capital spending. Oil prices have fallen to thirteen-year lows during 2016, impacting the way we conduct business. We have implemented a number of adjustments to strengthen our financial position. In January 2015, we restructured our commodity derivative contracts and subsequently increased our revenue security for 2016 and 2017 by executing additional commodity derivative contracts in November 2015 and April 2016 to provide greater oil price protection over a longer period of time. Additionally, we indefinitely suspended our quarterly cash distributions beginning with the third quarter of 2015. We are also aggressively pursuing cost reductions in order to improve profitability and maximize cash flows. Our primary cost reduction initiatives encompass periodic economic review of each well within our portfolio along with ongoing scrutiny of lease operating expenses and general and administrative expenses. Our liquidity position at June 30, 2016 consisted of approximately $4.0 million of available cash. Our borrowing base is redetermined in or around April and October of each year. During May 2016, we finalized our spring 2016 redetermination and resulting amendment of the underlying revolving credit facility. The new borrowing base was effective as of June 1, 2016 and was comprised of a $110.0 million conforming tranche and a permitted overadvance of $53.0 million . The permitted overadvance matures on November 1, 2016. In addition, the amendment (i) required the Partnership to provide a monthly excess cash flow report; (ii) required the Partnership to make varied minimum monthly principal payments totaling approximately $1.9 million through October 31, 2016; (iii) reduced the borrowing base to $105.0 million upon the close of the previously announced Hugoton divestiture; (iv) allowed an additional non-scheduled borrowing base redetermination between September 1, 2016 and November 1, 2016 to be requested by any lender; (v) increased the minimum collateral coverage from 90% to 95% of proved reserves (and 100% of PDP reserves); (vi) required the Partnership to unwind and early terminate existing hedges covering production from July 2016 through September 2016 and add new at-the-market swap contracts to replace these hedge terminations; and (vii) required the net proceeds from the previously announced Hugoton sale and the early termination of hedge contracts to be applied to debt reduction. Based on our cash balance, forecasted cash flows from operating activities, the early monetization of existing hedges and the closing of the previously announced Hugoton divestiture, we expect to be able to fund our planned capital expenditures budget, meet our debt service requirements and fund our other commitments and obligations. Although we currently expect our sources of cash to be sufficient to meet our near-term liquidity needs, there can be no assurance that our liquidity requirements will continue to be satisfied given current oil prices and the discretion of our lenders to decrease our borrowing base. Due to the volatility of commodity prices, we may not be able to obtain funding in the equity or capital markets on terms we find acceptable. The cost of obtaining money from the credit markets generally has increased as many lenders and institutional investors have increased interest rates, enacted tighter lending standards and reduced and, in some cases, ceased to provide any new funding.

Equity Awards

Equity Awards	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Awards	Equity Awards We have a long-term incentive program (the "Long-Term Incentive Program") for employees, officers, consultants and directors of our general partner and its affiliates, including Mid-Con Energy Operating, LLC ("Mid-Con Energy Operating") and ME3 Oilfield Service, LLC ("ME3 Oilfield Service"), who perform services for us. The Long-Term Incentive Program allows for the award of unit options, unit appreciation rights, unrestricted units, restricted units, phantom units, distribution equivalent rights granted with phantom units and other types of awards. The Long-Term Incentive Program is administered by the members of our general partner (the "Founders") and approved by the Board of Directors of the general partner. If an employee terminates employment prior to the restriction lapse date, the awarded units are forfeited and canceled and are no longer considered issued and outstanding. On November 20, 2015, the Board of Directors of the general partner approved an amendment to the Long-Term Incentive Program that increased the number of common units available for issuance from 1,764,000 to 3,514,000 . The following table shows the number of existing awards and awards available under the Long-Term Incentive Program at June 30, 2016 : Number of Common Units Approved and authorized awards 3,514,000 Unrestricted units granted (1,183,374 ) Restricted units granted, net of forfeitures (414,814 ) Equity-settled phantom units granted, net of forfeitures (109,500 ) Phantom units granted, net of forfeitures (9,575 ) Awards available for future grant 1,796,737 We recognized $0.3 million and $0.7 million of total equity-based compensation expense for the three and six months ended June 30, 2016, respectively, and we recognized $0.4 million and $2.4 million of total equity-based compensation expense for the three and six months ended June 30, 2015, respectively. These costs are reported as a component of general and administrative expense in our unaudited condensed consolidated statement of operations. Unrestricted unit awards We account for unrestricted awards as equity awards since they are settled by issuing common units. During the six months ended June 30, 2016, we granted 70,000 unrestricted units with an average grant date fair value of $1.16 per unit. These units were granted to certain directors of our general partner. Restricted unit awards We account for restricted awards as equity awards since they will be settled by issuing common units. These units vest over a two or three year period. The compensation expense we recognize associated with our restricted units is net of estimated forfeitures. We estimate our forfeiture rate based on prior experience and adjust it as circumstances warrant. We did not issue any restricted units during the six months ended June 30, 2016. A summary of our restricted unit awards for the six months ended June 30, 2016 is presented below: Number of Restricted Units Average Grant Date Fair Value per Unit Outstanding at December 31, 2015 222,833 $ 8.49 Units granted — — Units vested (95,698 ) 6.96 Units forfeited (19,043 ) 9.11 Outstanding at June 30, 2016 108,092 $ 8.80 As of June 30, 2016 , there were approximately $0.5 million of unrecognized compensation costs related to non-vested restricted units. The cost is expected to be recognized over a weighted average period of approximately 10 months . Equity-settled phantom unit awards We account for equity-settled phantom units as equity awards since these awards will be settled by issuing common units. These units vest over a two or three year period and do not have any rights or privileges of a common unitholder, including right to distributions, until vesting and the resulting conversion into common units. The compensation expense we recognize associated with our equity-settled phantom units is net of estimated forfeitures. We estimate our forfeiture rate based on prior experience and adjust it as circumstances warrant. During the six months ended June 30, 2016, we granted 24,500 equity-settled phantom units with one-third vesting immediately and the other two-thirds vesting over two years. These units were granted to certain employees of our affiliates. A summary of our equity-settled phantom unit awards for the six months ended June 30, 2016 is presented below: Number of Equity-Settled Phantom Units Average Grant Date Fair Value per Unit Outstanding at December 31, 2015 77,500 $ 2.81 Units granted 24,500 1.01 Units vested (8,168 ) 1.16 Units forfeited (15,500 ) 1.90 Outstanding at June 30, 2016 78,332 $ 2.73 As of June 30, 2016, there were approximately $0.1 million of unrecognized compensation costs related to equity-settled phantom units. The cost is expected to be recognized over a weighted average period of approximately 1.43 years .

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Our risk management program is intended to reduce our exposure to commodity price volatility and to assist with stabilizing cash flows. Accordingly, we utilize commodity derivative contracts (swaps, calls, puts and costless collars) to manage a portion of our exposure to commodity prices and specific delivery points. The commodity derivative contracts that we have entered into generally have the effect of providing us with a fixed price or a floor for a portion of our expected future oil production over a fixed period of time. We enter into commodity derivative contracts or modify our portfolio of existing commodity derivative contracts when we believe market conditions or other circumstances suggest that it is prudent to do so, or as required by our lenders. These are presented as derivative financial instruments on our unaudited condensed consolidated financial statements. At June 30, 2016 and December 31, 2015, our net commodity derivative contracts were in a net asset position with a fair value of approximately $3.0 million and $25.6 million, respectively. All of our commodity derivative contracts are with major financial institutions that are also members of our banking group. Should one of these financial counterparties not perform, we may not realize the benefit of some of our commodity derivative contracts under lower commodity prices and we could incur a loss. As of June 30, 2016, all of our counterparties have performed pursuant to their commodity derivative contracts. At June 30, 2016 and December 31, 2015, our commodity derivative contracts had maturities that extended through June 2018 and December 2017, respectively, and were comprised of commodity price swap, call, put and collar contracts. For commodity price swap contracts, at the time of execution the seller agrees to receive a fixed price at maturity in exchange for any gains or losses that might be realized from allowing the price of the underlying commodity to float with the market until maturity. From the perspective of the seller, these instruments limit exposure to price declines below the price fixed by the swap at the expense of participating in any price increases above the price fixed by the swap. For commodity price call contracts, in return for a premium received, which can be effected at either execution or settlement, the seller is obliged to pay the difference, when positive, between the market price of the underlying commodity at maturity and the strike price. From the perspective of the seller, these instruments provide income via the premium received at the expense of any incremental gains that would have otherwise been received above the strike price. For commodity price put contracts, in return for a premium paid, which can be effected at either execution or settlement, the purchaser has the right to receive the difference, when positive, between the strike price and the market price of the underlying commodity at maturity. From the perspective of the purchaser, these instruments limit exposure to price declines below the strike price at the expense of premiums paid. For commodity price collar contracts, a collar is the combination of a put purchased or sold by a party and a call option sold or purchased by the same party. The collar is defined as costless when the value of the option purchased is approximately offset by the value of the option sold. We do not designate derivatives as hedges for accounting purposes; therefore, the mark-to-market adjustment reflecting the change in the fair value of our commodity derivative contracts is recorded in current period earnings. When prices for oil are volatile, a significant portion of the effect of our hedging activities consists of non-cash gains or losses due to changes in the fair value of our commodity derivative contracts. In addition to mark-to-market adjustments, gains or losses arise from net payments made or received on monthly settlements, proceeds or payments for termination of contracts prior to their expiration and premiums paid or received for new contracts. Any deferred premiums are recorded as a liability and recognized in earnings as the related contracts mature. Gains and losses on derivatives are included in cash flows from operating activities. Pursuant to the accounting standard that permits netting of assets and liabilities where the right of offset exists, we present the fair value of commodity derivative contracts on a net basis. At June 30, 2016 , we had the following oil derivatives net positions: Period Covered Weighted Average Fixed Price Weighted Average Floor Price Weighted Average Ceiling Price Total Bbls NYMEX Index Swaps - 2016 $ 77.85 1,386 WTI Puts - 2016 $ 50.00 $ — 1,875 WTI Collars - 2017 $ 40.00 $ 50.68 658 WTI Puts - 2017 $ 50.00 $ — 1,932 WTI Collars - 2018 $ 45.00 $ 58.54 1,326 WTI At December 31, 2015, we had the following oil derivatives net positions: Period Covered Weighted Average Fixed Price Weighted Average Floor Price Weighted Average Ceiling Price Total Bbls NYMEX Index Swaps - 2016 $ 79.98 1,598 WTI Collars - 2016 $ 50.00 $ 50.00 328 WTI Puts - 2016 $ 50.00 $ — 1,475 WTI Puts - 2017 $ 50.00 $ — 1,932 WTI During the first quarter of 2015, we restructured a significant portion of our existing commodity derivative contracts that were in place at December 31, 2014 and entered into new commodity derivative contracts which extend through September 2016. In connection with the early termination of our commodity derivative contracts, we received net proceeds of approximately $11.1 million. We received approximately $5.9 million from selling calls and paid approximately $19.8 million in premiums to extend the contracts through September 2016. The restructuring also resulted in approximately $4.1 million in deferred premium put options. As of June 30, 2016, we had paid approximately $3.4 million of the deferred premiums in connection with these contract settlements. In connection with the November 2015 semi-annual redetermination of our borrowing base, we entered into additional commodity derivative contracts resulting in total commodity derivative contracts covering at least 80% of our 2016 projected monthly production and at least 50% of our 2017 projected monthly production, calculated based on Proved Developed Producing reserves. No cash settlements were required and the contracts included deferred premiums of approximately $7.8 million that will be paid through December 2017. As of June 30, 2016, we had paid approximately $0.8 million of the deferred premiums in connection with these contract settlements. The following tables summarize the gross fair value by the appropriate balance sheet classification, even when the derivative financial instruments are subject to netting arrangements and qualify for net presentation in our unaudited condensed consolidated balance sheets at June 30, 2016 and December 31, 2015: Gross Amounts Recognized Gross Amounts Offset in the Unaudited Condensed Consolidated Balance Sheet Net Amounts (in thousands) June 30, 2016: Assets Derivative financial instruments - current asset $ 10,598 $ (5,911 ) $ 4,687 Derivative financial instruments - long-term asset 2,432 (2,432 ) — Total $ 13,030 $ (8,343 ) $ 4,687 Liabilities Derivative financial instruments - current liability $ (1,037 ) $ 594 $ (443 ) Derivative deferred premium - current liability (5,317 ) 5,317 — Derivative financial instruments - long-term liability (1,264 ) 33 (1,231 ) Derivative deferred premium - long-term liability (2,399 ) 2,399 — Total $ (10,017 ) $ 8,343 $ (1,674 ) Net Asset $ 3,013 $ — $ 3,013 Gross Gross Amounts Net Amounts (in thousands) December 31, 2015: Assets Derivative financial instruments - current asset $ 29,973 $ (5,554 ) $ 24,419 Derivative financial instruments - long-term asset 6,077 (4,933 ) 1,144 Total $ 36,050 $ (10,487 ) $ 25,563 Liabilities Derivative financial instruments - current liability $ (514 ) $ 514 $ — Derivative deferred premium - current liability (5,040 ) 5,040 — Derivative deferred premium - long-term liability (4,933 ) 4,933 — Total $ (10,487 ) $ 10,487 $ — Net Asset $ 25,563 $ — $ 25,563 The following table presents the impact of derivative financial instruments and their location within the unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended 2016 2015 2016 2015 (in thousands) Net settlements on matured derivatives $ 6,191 $ 2,423 $ 17,285 $ 7,183 Net settlements on early terminations and modifications of derivatives — — — 11,069 Change in fair value of derivatives, net (16,279 ) (11,294 ) (24,805 ) (25,479 ) Total loss on derivatives, net $ (10,088 ) $ (8,871 ) $ (7,520 ) $ (7,227 )

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures Fair Value of Financial Instruments The carrying amounts reported in our balance sheet for cash, accounts receivable and accounts payable approximate their fair values. The carrying amount of debt under our revolving credit facility approximates fair value because the revolving credit facility’s variable interest rate resets frequently and approximates current market rates available to us. We account for our commodity derivative contracts at fair value as discussed in "Assets and Liabilities Measures at Fair Value on a Recurring Basis" below. Fair Value Measurements Fair value is the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Assets and liabilities recorded in the balance sheet are categorized based on the inputs to the valuation technique as follows: Level 1 —Financial assets and liabilities for which values are based on unadjusted quoted prices for identical assets or liabilities in an active market that management has the ability to access. We consider active markets to be those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an on-going basis. Level 2 —Financial assets and liabilities for which values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 instruments primarily include swap, call and put contracts. Level 3 —Financial assets and liabilities for which values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability. When the inputs used to measure fair value fall within different levels of the hierarchy in a liquid environment, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. Changes in the observability of valuation inputs may result in a reclassification for certain financial assets or liabilities. We had no transfers in or out of Levels 1, 2 or 3 at June 30, 2016 and December 31, 2015. Our estimates of fair value have been determined at discrete points in time based on relevant market data. These estimates involve uncertainty and cannot be determined with precision. There were no changes in valuation techniques or related inputs for the six months ended June 30, 2016 and for the year ended December 31, 2015. Assets and Liabilities Measured at Fair Value on a Recurring Basis We account for commodity derivative contracts and their corresponding deferred premiums at fair value on a recurring basis utilizing certain pricing models. Inputs to the pricing models include publicly available prices from a compilation of data gathered from third parties and brokers. We validate the data provided by third parties by understanding the pricing models used, obtaining market values from other pricing sources, analyzing pricing data in certain situations and confirming that those securities trade in active markets. See Note 3 in this section for a summary of our derivative financial instruments. Assets and Liabilities Measured at Fair Value on a Non-recurring Basis We estimate the fair value of our Asset Retirement Obligations ("ARO") based on discounted cash flow projections using numerous estimates, assumptions and judgments regarding such factors as the existence of a legal obligation for ARO, amounts and timing of settlements, the credit-adjusted risk-free rate to be used and inflation rates. See Note 5 in this section for a summary of changes in ARO. We calculate the estimated fair values of reserves and properties using valuation techniques consistent with the income approach, converting future cash flows to a single discounted amount. Significant inputs used to determine the fair values of proved properties include estimates of: (i) reserves; (ii) future operating and developmental costs; (iii) future commodity prices; (iv) a market-based weighted average cost of capital rate; and (v) the rate at which future cash flows are discounted to estimate present value. We discount future values by a per annum rate of 10% because we believe this amount approximates our long-term cost of capital and accordingly, is well aligned with our internal business decisions. The underlying commodity prices embedded in our estimated cash flows are the product of a process that begins with Level 1 NYMEX-WTI forward curve pricing, as well as Level 3 assumptions including: pricing adjustments for estimated location and quality differentials, production costs, capital expenditures, production volumes, decline rates, and estimated reserves. The need to test an asset for impairment may result from significant declines in sales prices or downward revisions in estimated quantities of oil and natural gas reserves. If the carrying value of the long-lived assets exceeds the sum of estimated undiscounted future net cash flows, an impairment loss is recognized for the difference between the estimated fair value and the carrying value of the assets. During the three and six months ended June 30, 2016, we recorded a non-cash impairment charge of approximately $0.9 million due to a revision of reserve estimates for a property in our Permian core area. The impairment is included in "Impairment of proved oil and natural gas properties" in our unaudited condensed consolidated statements of operations. On May 26, 2016, we entered into an agreement to sell our assets in the Hugoton core area. The related assets and liabilities were classified as held for sale in the unaudited condensed consolidated balance sheets at June 30, 2016. In conjunction with this agreement, we recorded a non-cash impairment charge of approximately $3.6 million to reduce the carrying amount of these assets to their fair value, based on the agreed upon sales price of $18.0 million , prior to customary post-closing adjustments. The impairment is included in "Impairment of assets held for sale" in our unaudited condensed consolidated statements of operations. There were no impairment charges for the three and six months ended June 30, 2015. The following sets forth, by level within the hierarchy, the fair value of our assets and liabilities measured at fair value as of June 30, 2016 and December 31, 2015 : Level 1 Level 2 Level 3 Fair Value (in thousands) June 30, 2016 Assets and Liabilities Measured at Fair Value on a Recurring Basis Derivative financial instruments - asset $ — $ 13,030 $ — $ 13,030 Derivative financial instruments - liability $ — $ 2,301 $ — $ 2,301 Derivative deferred premiums - liability $ — $ — $ 7,716 $ 7,716 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Assets held for sale $ — $ — $ 20,821 $ 20,821 Asset retirement obligations $ — $ — $ 51 $ 51 Asset retirement obligations related to assets held for sale $ — $ — $ 2,821 $ 2,821 Impairment of proved oil and natural gas properties $ — $ — $ 895 $ 895 Impairment of assets held for sale $ — $ — $ 3,578 $ 3,578 December 31, 2015 Assets and Liabilities Measured at Fair Value on a Recurring Basis Derivative financial instruments - asset $ — $ 36,050 $ — $ 36,050 Derivative financial instruments - liability $ — $ 514 $ — $ 514 Derivative deferred premiums - liability $ — $ — $ 9,973 $ 9,973 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Asset retirement obligations $ — $ — $ 4,924 $ 4,924 Impairment of proved oil and natural gas properties $ — $ — $ 103,938 $ 103,938 A summary of the changes in Level 3 fair value measurements for the periods presented are as follows: Six Months Ended Year Ended (in thousands) Balance of Level 3 at beginning of period $ (9,973 ) $ — Derivative deferred premiums - purchases — (11,914 ) Derivative deferred premiums - settlements 2,257 1,941 Balance of Level 3 at end of period $ (7,716 ) $ (9,973 )

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations We have obligations under our lease agreements and federal regulations to remove equipment and restore land at the end of oil and natural gas production operations. These ARO are primarily associated with plugging and abandoning wells. We typically incur this liability upon acquiring or drilling a well and determine our ARO by calculating the present value of estimated cash flow related to the estimated future liability. Determining the removal and future restoration obligation requires management to make estimates and judgments, including the ultimate settlement amounts, inflation factors, credit adjusted risk-free rates, timing of settlement and changes in the legal, regulatory, environmental and political environments. We are required to record the fair value of a liability for the ARO in the period in which it is incurred with a corresponding increase in the carrying amount of the related long-lived asset. We review our assumptions and estimates of future asset retirement obligations on an annual basis, or more frequently, if an event or circumstances occur that would impact our assumptions. To the extent future revisions to these assumptions impact the present value of the abandonment liability, management will make corresponding adjustments to both the ARO and the related oil and natural gas property asset balance. Over time, the liability is accreted each period toward its future value and is recorded in our unaudited condensed consolidated statements of operations. The discounted capitalized cost is amortized to expense through the depreciation calculation over the life of the assets based on proved developed reserves. Upon settlement of the liability, a gain or loss is recognized to the extent the actual costs differ from the recorded liability. As of June 30, 2016 and December 31, 2015 , our ARO were reported as "Asset retirement obligations" in our unaudited condensed consolidated balance sheets. Changes in our ARO for the periods indicated are presented in the following table: Six Months Ended Year Ended (in thousands) Asset retirement obligations - beginning of period $ 12,679 $ 7,363 Liabilities incurred for new wells and interest 51 42 Liabilities settled upon plugging and abandoning wells — (40 ) Liabilities removed upon sale of wells (6 ) — Liabilities related to assets held for sale (2,821 ) — Revision of estimates (1) — 4,882 Accretion expense 316 432 Asset retirement obligations - end of period $ 10,219 $ 12,679 (1) The revision of estimates that occurred during the year ended December 31, 2015 was primarily due to a change in estimated plugging and abandonment costs based on 2015 settlements.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt A summary of our debt at June 30, 2016 and year ended December 31, 2015 is presented below: Six Months Ended Year Ended (in thousands) Revolving credit facility $ 162,018 $ 180,000 Less: current portion 52,018 30,000 Total long-term debt $ 110,000 $ 150,000 At June 30, 2016, we had $162.0 million of borrowings outstanding under our revolving credit facility, comprised of a $110.0 million conforming borrowing base and a $52.0 million permitted overadvance. At June 30, 2016 maturities of our debt were $52.0 million in 2016 and $110.0 million in 2018. The borrowing base of our revolving credit facility is collectively determined by our lenders based on the value of our proved oil and natural gas reserves using assumptions regarding future prices, costs and other matters that may vary. The borrowing base is subject to scheduled redeterminations in or around April and October of each year with an additional redetermination, either at our request or at the request of the lender, during the period between each scheduled borrowing base determination. An additional borrowing base redetermination may be made at the request of the lenders in connection with a material disposition of our properties or a material liquidation of a hedge contract. Borrowings under the revolving credit facility bear interest at a floating rate based on, at our election: (i) the greater of the prime rate of the Wells Fargo Bank, National Association, the federal funds effective rate plus 0.50% and the one month adjusted London Interbank Offered Rate ("LIBOR") plus 1.0% , all of which are subject to a margin that varies from 1.00% to 2.75% per annum according to the borrowing base usage (which is the ratio of outstanding borrowings and letters of credit to the borrowing base then in effect), or (ii) the applicable LIBOR plus a margin that varies from 2.00% to 3.75% per annum according to the borrowing base usage. For the three months ended June 30, 2016, the average effective rate was approximately 4.13% . Any unused portion of the borrowing base will be subject to a commitment fee that varies from 0.375% to 0.50% per annum according to the borrowing base usage. We may use borrowings under the facility for acquiring and developing oil and natural gas properties, for working capital purposes, for general partnership purposes and for funding distributions to our unitholders. The revolving credit facility includes customary affirmative and negative covenants, such as limitations on the creation of new indebtedness and on certain liens, restrictions on certain transactions and payments, including distributions. If we fail to perform our obligations under these and other covenants, the revolving credit commitments may be terminated and any outstanding indebtedness under the credit agreement, together with accrued interest, could be declared immediately due and payable. We were in compliance with these covenants as of and during the six months ended June 30, 2016. During February 2015, the revolving credit facility was amended to allow our Consolidated EBITDAX calculation, as defined in section 7.13 of the original revolving credit agreement, to reflect the net cash flows attributable to the restructured commodity derivative contracts that occurred during January 2015 for the periods of the first quarter 2015 through the third quarter of 2016. During the semi-annual redetermination in April 2015, the borrowing base under the revolving credit facility was reduced to $220.0 million from $240.0 million. No other material terms of the original credit agreement were amended. During November 2015, the semi-annual redetermination of our borrowing base and amendment of the underlying revolving credit facility was completed. This redetermination resulted in a borrowing base of $190.0 million, consisting of a $165.0 million conforming tranche, which required six monthly commitment reductions of $2.5 million each through May 2016, and a $25.0 million non-conforming tranche that matured on May 1, 2016. The credit facility amendment also designated Wells Fargo Bank, National Association, as our administrative and collateral agent, replacing Royal Bank of Canada. This redetermination also required that by December 10, 2015, we enter into commodity derivative contracts of not less than 80% of our 2016 projected monthly production and not less than 50% of our 2017 projected monthly production, calculated based on Proved Developed Producing reserves. These requirements were satisfied during November 2015 with the execution of additional commodity derivative contracts maturing in 2016 and 2017. In connection with this amendment to our revolving credit facility, we incurred financing fees and expenses of approximately $0.7 million, which will be amortized over the remaining life of the revolving credit facility. Such amortized expenses are recorded in "interest expense" on our unaudited condensed consolidated statements of operations. During May 2016, we finalized our spring 2016 redetermination and resulting amendment of the underlying revolving credit facility. The new borrowing base was effective as of June 1, 2016 and was comprised of a $110.0 million conforming tranche and a permitted overadvance of $53.0 million . The permitted overadvance matures on November 1, 2016. In addition, the amendment (i) required the Partnership to provide a monthly excess cash flow report; (ii) required the Partnership to make varied minimum monthly principal payments totaling approximately $1.9 million through October 31, 2016; (iii) reduced the borrowing base to $105.0 million upon the close of the previously announced Hugoton divestiture; (iv) allowed an additional non-scheduled borrowing base redetermination between September 1, 2016 and November 1, 2016 to be requested by any lender; (v) increased the minimum collateral coverage from 90% to 95% of proved reserves (and 100% of PDP reserves); (vi) required the Partnership to unwind and early terminate existing hedges covering production from July 2016 through September 2016 and add new at-the-market swap contracts to replace these hedge terminations; and (vii) required the net proceeds from the previously announced Hugoton sale and from the early termination of hedge contracts to be applied to debt reduction.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitment and Contingencies	Commitments and Contingencies We lease corporate office space in Tulsa, Oklahoma and Abilene, Texas. We are also allocated office rent from Mid-Con Energy Operating. Total lease expenses were approximately $0.1 million each for the three months ended June 30, 2016 and 2015, and approximately $0.2 million each for the six months ended June 30, 2016 and 2015, respectively. These expenses are included in general and administrative expenses in our unaudited condensed consolidated statements of operations. Future minimum lease payments under the non-cancellable operating leases at June 30, 2016 were as follows (in thousands): Remaining 2016 $ 257 2017 403 2018 408 2019 413 2020 418 2021 423 Total $ 2,322 We have a service agreement with Mid-Con Energy Operating, pursuant to which Mid-Con Energy Operating will provide certain services to us, our subsidiaries and our general partner, including management, administrative and operations services, which include marketing, geological and engineering services. Under the services agreement, we reimburse Mid-Con Energy Operating, on a monthly basis, for the allocable expenses it incurs in its performance under the services agreement. These expenses include, among other things, salary, bonus, incentive compensation and other amounts paid to persons who perform services for or on our behalf and other expenses allocated by Mid-Con Energy Operating to us. Our general partner has entered into employment agreements with the following named employees of our general partner: Jeffrey R. Olmstead, President and Chief Executive Officer, and Charles R. Olmstead, Executive Chairman of the Board. The employment agreements automatically renew for one-year terms unless either we or the employee gives written notice of termination by at least February 1st preceding any such August 1st. Pursuant to the employment agreements, each employee will serve in his respective position with our general partner, as set forth above, and has duties, responsibilities and authority as the Board of Directors of our general partner may specify from time to time, in roles consistent with such positions that are assigned to them. The agreement stipulates that if there is a change of control, termination of employment, with cause or without cause, or death of the executive certain payments will be made to the executive officer. These payments, depending on the reason for termination, currently range from $0.3 million to $0.7 million, including the value of vesting of any outstanding units. We are party to various claims, legal actions and complaints arising in the ordinary course of business. In the opinion of management and our General Counsel, the ultimate resolution of all claims, legal actions and complaints after consideration of amounts accrued, insurance coverage or other indemnification arrangements will not have a material adverse effect on our financial position, results of operations or cash flows.

Equity

Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Equity	Equity Common Units At June 30, 2016 and December 31, 2015 , the Partnership’s equity consisted of 29,784,015 and 29,724,890 common units, respectively, representing approximately a 98.8% limited partnership interest in us. On May 5, 2015, we entered into an Equity Distribution Agreement (the "Agreement") to sell, from time to time through or to the Managers (as defined in the Agreement), up to $50.0 million in common units representing limited partner interests. The sales, if any, of common units made under the Agreement will be made by any method permitted by law deemed to be an "at-the-market-offering" as defined in Rule 415 under the Securities Act of 1933, as amended (the "Securities Act"), including without limitation, sales made directly on the NASDAQ, on any other existing trading market for our common units or to or through a market maker. From the period of the original agreement to June 30, 2016, we did not sell any common units. Cash Distributions Our partnership agreement requires us to distribute all of our available cash on a quarterly basis. Our available cash is our cash on hand at the end of a quarter after the payment of our expenses and the establishment of reserves for future capital expenditures and operational needs, including cash from working capital borrowings. There is no assurance as to the future cash distributions since they are dependent upon our projections for future earnings, cash flows, capital requirements, financial conditions and other factors. As of August 3, 2016, cash distributions continue to be indefinitely suspended. Our credit agreement stipulates written consent from our lenders is required in order to reinstate distributions and also prohibits us from making cash distributions if any potential default or event of default, as defined in the credit agreement, occurs or would result from the cash distribution. Management and the Board of Directors will continue to evaluate, on a quarterly basis, the appropriate level of cash reserves in determining future distributions. The suspension of cash distributions is designed to preserve liquidity and reallocate excess cash flow towards capital expenditure projects and debt reduction to maximize long-term value for our unitholders. Allocation of Net Income or Loss Net income or loss is allocated between our general partner and the limited partner unitholders in proportion to their pro rata ownership during the period.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Agreements with Affiliates The following agreements were negotiated among affiliated parties and, consequently, are not the result of arm’s length negotiations. The following is a description of those agreements that have been entered into with the affiliates of our general partner and with our general partner. Services Agreement. We are party to a services agreement with Mid-Con Energy Operating pursuant to which Mid-Con Energy Operating provides certain services to us, including management, administrative and operational services. The operational services include marketing, geological and engineering services. Under the services agreement, we reimburse Mid-Con Energy Operating, on a monthly basis, for the allocable expenses it incurs in its performance under the services agreement. These expenses include, among other things, salary, bonus, incentive compensation and other amounts paid to persons who perform services for us or on our behalf and other expenses allocated by Mid-Con Energy Operating to us. These expenses are included in general and administrative expenses in our unaudited condensed consolidated statements of operations. Operating Agreements . We, various third parties with an ownership interest in the same property and our affiliate, Mid-Con Energy Operating, are party to standard oil and natural gas joint operating agreements, pursuant to which we and those third parties pay Mid-Con Energy Operating overhead charges associated with operating our properties. We and those third parties pay Mid-Con Energy Operating for its direct and indirect expenses that are chargeable to the wells under their respective operating agreements. The majority of these expenses are included in lease operating expenses in our unaudited condensed consolidated statements of operations. Oilfield Services . We are party to standard oilfield services operating agreements, pursuant to which Mid-Con Energy Operating bills us for oilfield services performed by our affiliate ME3 Oilfield Service. These expenses are either included in lease operating expenses in our unaudited condensed consolidated statements of operations or in oil and natural gas properties in our unaudited condensed consolidated balance sheets. The following table summarizes the affiliates' transactions for the periods indicated: Three Months Ended Six Months Ended 2016 2015 2016 2015 Amounts paid for: (in thousands) Services agreement $ 706 $ 827 $ 1,526 $ 1,678 Joint operating agreements 1,616 2,044 3,281 4,158 Oilfield services provided by ME3 Oilfield Service 825 883 1,496 1,913 $ 3,147 $ 3,754 $ 6,303 $ 7,749 At June 30, 2016 , we had a net payable to Mid-Con Energy Operating of approximately $0.6 million which was comprised of a joint interest billing payable of approximately $0.4 million and a payable for operating services of approximately $0.2 million . These amounts are included in the accounts payable-related parties in our unaudited condensed consolidated balance sheets.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	New Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") issued a comprehensive new revenue recognition standard that supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and industry-specific guidance in Subtopic 932-605, Extractive Activities-Oil and Gas-Revenue Recognition . The core principle of the new guidance is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for transferring those goods or services. The new standard also requires significantly expanded disclosure regarding the qualitative and quantitative information of an entity's nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The standard creates a five-step model that requires companies to exercise judgment when considering the terms of a contract and all relevant facts and circumstances. The standard allows for several transition methods: (a) a full retrospective adoption in which the standard is applied to all of the periods presented, or (b) a modified retrospective adoption in which the standard is applied only to the most current period presented in the financial statements, including additional disclosures of the standard's application impact to individual financial statement line items. This standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Partnership is currently evaluating the impact this guidance will have on its consolidated financial statements upon adoption of this standard. In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40) : Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. The amendments in ASU 2014-15 are intended to define management's responsibility to evaluate whether there is a substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. This standard is effective for the annual periods ending after December 15, 2016, and for interim periods within annual period beginning after December 15, 2016. Early adoption is permitted. As of June 30, 2016 the Partnership has not elected early adoption. In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842),” which supersedes current lease guidance. The new lease standard requires all leases with a term greater than one year to be recognized on the balance sheet while maintaining substantially similar classifications for finance and operating leases. Lease expense recognition on the income statement will be effectively unchanged. This guidance is effective for reporting periods beginning after December 15, 2018 and early adoption is permitted. The Partnership is currently evaluating the impact this guidance will have on its consolidated financial statements upon adoption of this standard. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Improvements to Employee Share-Based Payment Accounting. The guidance simplifies the accounting for employee stock-based payment transactions including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification of awards as either equity or liabilities, and classification of related amounts within the statement of cash flows. The guidance requires the recognition of the income tax effects of awards in the income statement when the awards vest or are settled, thus eliminating additional paid in capital pools. The guidance also allows for the employer to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting. In addition, the guidance allows for a policy election to account for forfeitures as they occur rather than on an estimated basis. The guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and early adoption is permitted. The Partnership is currently evaluating the impact this guidance will have on its consolidated financial statements upon adoption of this standard.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 1, 2016, in connection with our spring 2016 borrowing base redetermination, we terminated some of our commodity derivative contracts covering July 2016 through September 2016 production, resulting in net receipts of approximately $4.3 million. Per the amendment to the credit facility, we used the funds received to reduce our outstanding debt. Also on July 1, 2016, we entered into new commodity derivative at-the-market swap contracts covering 300,000 barrels of future oil production which extend through September 2016. On July 20, 2016, the Board of Directors authorized the issuance of 3,932 unrestricted units, 323,000 equity-settled phantom units with one-third vesting immediately and the other two-thirds vesting over two years, and 27,000 equity-settled phantom units with a three-year vesting period. The equity-settled phantom units do not have any rights or privileges of a unit holder, including right to distributions, until vesting and the resulting conversion into common units. These units were granted to certain employees of our affiliates and founders of our general partner. On July 28, 2016, we closed on the previously announced sale of oil and natural gas assets within the Hugoton area. The effective date of the sale was May 1, 2016. Proceeds from the sale of approximately $17.9 million , inclusive of preliminary post-closing adjustments, were used to reduce borrowings outstanding under the Partnership's revolving credit facility. These assets, net of DD&A and impairment, were classified as assets held for sale, net and their corresponding ARO liabilities were classified as liabilities related to assets held for sale in our unaudited condensed consolidated balance sheets at June 30, 2016. On July 28, 2016, we entered into a definitive purchase and sale agreement to purchase oil and natural gas assets in Nolan County, Texas for an aggregate purchase price of approximately $19.5 million , subject to customary post-closing purchase price adjustments. The effective date of the acquisition is June 1, 2016 and it is expected to close on or before August 12, 2016. The purchase price will be paid in cash, which is expected to be funded by the Private Offering described below. On July 28, 2016, as more fully described in the Partnership’s Form 8-K filed with the SEC on August 3, 2016, we entered into a definitive agreement to issue and sell $20.0 million of Class A Convertible Preferred Units ("preferred units") in a private offering subject to customary closing conditions with the Partnership having the option to issue and sell an additional $5.0 million in additional preferred units. The Partnership will use the net proceeds from the offering to fund the acquisition of certain properties in Nolan County, Texas, and any excess will be used to reduce borrowings under our revolving credit facility or general corporate purposes. The preferred units will be issued at a price of $2.15 per preferred unit (the "unit purchase price"). The Partnership will pay holders of the preferred units a cumulative, quarterly distribution in cash at an annual rate of 8.0% , or under certain circumstances, in additional preferred units, at an annual rate of 10% . At any time after the six month anniversary and prior to the five year anniversary of the closing date, each holder of the preferred units may elect to convert all or any portion of their preferred units into common units representing limited partner interests in the Partnership on a one-for-one basis. On the fifth anniversary of the closing date of the offering, each holder may elect to cause the Partnership to redeem all or any portion of their preferred units for cash at the unit purchase price, and any remaining preferred units will thereafter be converted to common units on a one-for-one basis. The agreement requires the Partnership to enter into a registration rights agreement and has provisions relating to a change of control. The agreement also requires the Partnership to suspend sales of Common Units pursuant to the Equity Distribution Agreement, which is described in Note 8 in our unaudited condensed consolidated financial statements, from the closing date through the fifth anniversary of the closing date and prohibits the Partnership from incurring any indebtedness (other than under the Partnership’s existing credit facility and trade accounts payable arising in the ordinary course of business) without the consent of the majority of the holders of the preferred units. On July 29, 2016, we entered into new commodity derivative contracts covering 150,000 barrels of future oil production which extend through December 2018. On August 1, 2016, we entered into new commodity derivative contracts covering 150,000 barrels of future oil production which extend through December 2018. On August 1, 2016, we announced that effective upon the closing of the Nolan County, Texas asset purchase, we have received unanimous lender support to increase the pro forma conforming borrowing base of our revolving credit facility to $140.0 million subject to execution of Amendment No. 10 to the credit agreement. As of August 3, 2016, borrowings outstanding under the revolving credit facility were approximately $139.3 million , after total debt payments of approximately $22.7 million from the June 30, 2016 balance.

Organization and Nature of Op18

Organization and Nature of Operations (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our unaudited condensed consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the SEC. These financial statements have not been audited by our independent registered public accounting firm, except that the condensed consolidated balance sheet at December 31, 2015 is derived from the audited financial statements. Accordingly, certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted in this Form 10-Q. We believe that the presentations and disclosures herein are adequate to make the information not misleading. The unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the interim periods. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. These interim financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2015 . All intercompany transactions and account balances have been eliminated.

Equity Awards (Tables)

Equity Awards (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of awards under Long-Term Incentive Program	The following table shows the number of existing awards and awards available under the Long-Term Incentive Program at June 30, 2016 : Number of Common Units Approved and authorized awards 3,514,000 Unrestricted units granted (1,183,374 ) Restricted units granted, net of forfeitures (414,814 ) Equity-settled phantom units granted, net of forfeitures (109,500 ) Phantom units granted, net of forfeitures (9,575 ) Awards available for future grant 1,796,737
Summary of restricted units awarded	A summary of our restricted unit awards for the six months ended June 30, 2016 is presented below: Number of Restricted Units Average Grant Date Fair Value per Unit Outstanding at December 31, 2015 222,833 $ 8.49 Units granted — — Units vested (95,698 ) 6.96 Units forfeited (19,043 ) 9.11 Outstanding at June 30, 2016 108,092 $ 8.80
Summary of equity-settled units	A summary of our equity-settled phantom unit awards for the six months ended June 30, 2016 is presented below: Number of Equity-Settled Phantom Units Average Grant Date Fair Value per Unit Outstanding at December 31, 2015 77,500 $ 2.81 Units granted 24,500 1.01 Units vested (8,168 ) 1.16 Units forfeited (15,500 ) 1.90 Outstanding at June 30, 2016 78,332 $ 2.73

Derivative Financial Instrume20

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Commodity Contracts	At December 31, 2015, we had the following oil derivatives net positions: Period Covered Weighted Average Fixed Price Weighted Average Floor Price Weighted Average Ceiling Price Total Bbls NYMEX Index Swaps - 2016 $ 79.98 1,598 WTI Collars - 2016 $ 50.00 $ 50.00 328 WTI Puts - 2016 $ 50.00 $ — 1,475 WTI Puts - 2017 $ 50.00 $ — 1,932 WTI At June 30, 2016 , we had the following oil derivatives net positions: Period Covered Weighted Average Fixed Price Weighted Average Floor Price Weighted Average Ceiling Price Total Bbls NYMEX Index Swaps - 2016 $ 77.85 1,386 WTI Puts - 2016 $ 50.00 $ — 1,875 WTI Collars - 2017 $ 40.00 $ 50.68 658 WTI Puts - 2017 $ 50.00 $ — 1,932 WTI Collars - 2018 $ 45.00 $ 58.54 1,326 WTI
Estimated Fair Value of Derivative Assets and Liabilities	The following tables summarize the gross fair value by the appropriate balance sheet classification, even when the derivative financial instruments are subject to netting arrangements and qualify for net presentation in our unaudited condensed consolidated balance sheets at June 30, 2016 and December 31, 2015: Gross Amounts Recognized Gross Amounts Offset in the Unaudited Condensed Consolidated Balance Sheet Net Amounts (in thousands) June 30, 2016: Assets Derivative financial instruments - current asset $ 10,598 $ (5,911 ) $ 4,687 Derivative financial instruments - long-term asset 2,432 (2,432 ) — Total $ 13,030 $ (8,343 ) $ 4,687 Liabilities Derivative financial instruments - current liability $ (1,037 ) $ 594 $ (443 ) Derivative deferred premium - current liability (5,317 ) 5,317 — Derivative financial instruments - long-term liability (1,264 ) 33 (1,231 ) Derivative deferred premium - long-term liability (2,399 ) 2,399 — Total $ (10,017 ) $ 8,343 $ (1,674 ) Net Asset $ 3,013 $ — $ 3,013 Gross Gross Amounts Net Amounts (in thousands) December 31, 2015: Assets Derivative financial instruments - current asset $ 29,973 $ (5,554 ) $ 24,419 Derivative financial instruments - long-term asset 6,077 (4,933 ) 1,144 Total $ 36,050 $ (10,487 ) $ 25,563 Liabilities Derivative financial instruments - current liability $ (514 ) $ 514 $ — Derivative deferred premium - current liability (5,040 ) 5,040 — Derivative deferred premium - long-term liability (4,933 ) 4,933 — Total $ (10,487 ) $ 10,487 $ — Net Asset $ 25,563 $ — $ 25,563
Impact of Derivative Financial Instruments within Condensed Consolidated Statement of Operations	The following table presents the impact of derivative financial instruments and their location within the unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended 2016 2015 2016 2015 (in thousands) Net settlements on matured derivatives $ 6,191 $ 2,423 $ 17,285 $ 7,183 Net settlements on early terminations and modifications of derivatives — — — 11,069 Change in fair value of derivatives, net (16,279 ) (11,294 ) (24,805 ) (25,479 ) Total loss on derivatives, net $ (10,088 ) $ (8,871 ) $ (7,520 ) $ (7,227 )

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of fair value measurements	The following sets forth, by level within the hierarchy, the fair value of our assets and liabilities measured at fair value as of June 30, 2016 and December 31, 2015 : Level 1 Level 2 Level 3 Fair Value (in thousands) June 30, 2016 Assets and Liabilities Measured at Fair Value on a Recurring Basis Derivative financial instruments - asset $ — $ 13,030 $ — $ 13,030 Derivative financial instruments - liability $ — $ 2,301 $ — $ 2,301 Derivative deferred premiums - liability $ — $ — $ 7,716 $ 7,716 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Assets held for sale $ — $ — $ 20,821 $ 20,821 Asset retirement obligations $ — $ — $ 51 $ 51 Asset retirement obligations related to assets held for sale $ — $ — $ 2,821 $ 2,821 Impairment of proved oil and natural gas properties $ — $ — $ 895 $ 895 Impairment of assets held for sale $ — $ — $ 3,578 $ 3,578 December 31, 2015 Assets and Liabilities Measured at Fair Value on a Recurring Basis Derivative financial instruments - asset $ — $ 36,050 $ — $ 36,050 Derivative financial instruments - liability $ — $ 514 $ — $ 514 Derivative deferred premiums - liability $ — $ — $ 9,973 $ 9,973 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Asset retirement obligations $ — $ — $ 4,924 $ 4,924 Impairment of proved oil and natural gas properties $ — $ — $ 103,938 $ 103,938
Schedule of changes in Level 3 fair value measurements	A summary of the changes in Level 3 fair value measurements for the periods presented are as follows: Six Months Ended Year Ended (in thousands) Balance of Level 3 at beginning of period $ (9,973 ) $ — Derivative deferred premiums - purchases — (11,914 ) Derivative deferred premiums - settlements 2,257 1,941 Balance of Level 3 at end of period $ (7,716 ) $ (9,973 )

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Changes in Asset Retirement Obligations	Changes in our ARO for the periods indicated are presented in the following table: Six Months Ended Year Ended (in thousands) Asset retirement obligations - beginning of period $ 12,679 $ 7,363 Liabilities incurred for new wells and interest 51 42 Liabilities settled upon plugging and abandoning wells — (40 ) Liabilities removed upon sale of wells (6 ) — Liabilities related to assets held for sale (2,821 ) — Revision of estimates (1) — 4,882 Accretion expense 316 432 Asset retirement obligations - end of period $ 10,219 $ 12,679

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt	A summary of our debt at June 30, 2016 and year ended December 31, 2015 is presented below: Six Months Ended Year Ended (in thousands) Revolving credit facility $ 162,018 $ 180,000 Less: current portion 52,018 30,000 Total long-term debt $ 110,000 $ 150,000

Commitments and Contingencies -

Commitments and Contingencies - Non-Cancellable Operating Leases (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of commitments and contingencies	Future minimum lease payments under the non-cancellable operating leases at June 30, 2016 were as follows (in thousands): Remaining 2016 $ 257 2017 403 2018 408 2019 413 2020 418 2021 423 Total $ 2,322

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes the affiliates' transactions for the periods indicated: Three Months Ended Six Months Ended 2016 2015 2016 2015 Amounts paid for: (in thousands) Services agreement $ 706 $ 827 $ 1,526 $ 1,678 Joint operating agreements 1,616 2,044 3,281 4,158 Oilfield services provided by ME3 Oilfield Service 825 883 1,496 1,913 $ 3,147 $ 3,754 $ 6,303 $ 7,749

Organization and Nature of Op26

Organization and Nature of Operations (Details) - Revolving Credit Facility [Member] - USD ($)	May 31, 2016	May 31, 2016	Jun. 30, 2016	Jul. 28, 2016	Nov. 30, 2015	Jun. 30, 2015	Apr. 30, 2015
Debt Instrument [Line Items]
Cash			$ 4,000,000
Line of credit facility, maximum borrowing capacity					$ 190,000,000	$ 240,000,000	$ 220,000,000
LIne of credit overadvance	$ 53,000,000	$ 53,000,000
Required monthly principal payments		1,900,000
Percentage of collateral coverage of proved reserves	0.9		0.95
Percentage of PDP reserves			1
Proceeds from Hugoton sale required for debt reduction		17,900,000
Proceeds from hedge terminations required for debt reduction		4,300,000
Subsequent Event [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 105,000,000
Revolving Credit Facility, Conforming Tranche [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 110,000,000	$ 110,000,000			$ 165,000,000
Revolving Credit Facility, Conforming Tranche [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 105,000,000

Equity Awards - Additional Info

Equity Awards - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Nov. 20, 2015
Unrestricted Common Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted		70,000
Average grant date fair value per unit, granted		$ 1.16
Restricted Common Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted				0
Average grant date fair value per unit, granted				$ 0
Unrecognized compensation costs	$ 0.5			$ 0.5
Weighted average period - unrecognized cost				10 months
Equity-Settled Phantom Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted	24,500			24,500
Average grant date fair value per unit, granted				$ 1.01
Unrecognized compensation costs	$ 0.1			$ 0.1
Weighted average period - unrecognized cost				1 year 5 months 5 days
Equity-Settled Phantom Units [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				2 years
Equity-Settled Phantom Units [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Share-based Compensation Award, Tranche One [Member] | Restricted Common Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				2 years
Share-based Compensation Award, Tranche One [Member] | Equity-Settled Phantom Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				33.00%
Share-based Compensation Award, Tranche Two [Member] | Restricted Common Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Share-based Compensation Award, Tranche Two [Member] | Equity-Settled Phantom Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				2 years
Vesting percentage				66.00%
Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Approved and authorized awards	3,514,000			3,514,000		1,764,000
Equity-based compensation expense	$ 0.3		$ 0.4	$ 0.7	$ 2.4

Equity Awards - Awards availabl

Equity Awards - Awards available for future grant (Details) - Long-Term Incentive Plan [Member] - $ / shares	Jun. 30, 2016	Nov. 20, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Approved and authorized awards	3,514,000	1,764,000
Unrestricted units granted	(1,183,374)
Restricted units granted, net of forfeitures	(414,814)
Equity settled phantom units granted, net of forfeitures	(109,500)
Phantom units granted, net of forfeitures	$ (9,575)
Awards available for future grant	1,796,737

Equity Awards - Restricted Unit

Equity Awards - Restricted Units (Details) - Restricted Common Units [Member]	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Number of units
Outstanding, beginning of period | shares	222,833
Units granted | shares	0
Units vested | shares	(95,698)
Units forfeited | shares	(19,043)
Outstanding, end of period | shares	108,092
Weighted Average Grant Date Fair Value per Phantom Unit
Average fair value per unit, outstanding | $ / shares	$ 8.49
Average grant date fair value per unit, granted | $ / shares	0
Average grant date fair value per unit, vested | $ / shares	6.96
Average grant date fair value per unit, forfeited | $ / shares	9.11
Average fair value per unit, outstanding | $ / shares	$ 8.80

Equity Awards - Equity-Settled

Equity Awards - Equity-Settled Phantom Units (Details) - Equity-Settled Phantom Units [Member] - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Number of units
Outstanding, beginning of period		77,500
Units granted	24,500	24,500
Units vested		(8,168)
Units forfeited		(15,500)
Outstanding, end of period	78,332	78,332
Weighted Average Grant Date Fair Value per Phantom Unit
Average fair value per unit, outstanding		$ 2.81
Average grant date fair value per unit, granted		1.01
Average grant date fair value per unit, vested		1.16
Average grant date fair value per unit, forfeited		1.90
Average fair value per unit, outstanding	$ 2.73	$ 2.73

Derivative Financial Instrume31

Derivative Financial Instruments Derivative Financial Instruments - Additional information (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of net derivate asset	$ 3,013	$ 25,563

Derivative Financial Instrume32

Derivative Financial Instruments - Commodity Contracts (Details) - $ / Bbls	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Swap [Member] | Period Covered-2016 [Member]
Derivative [Line Items]
Weighted Average Fixed Price	77.85	79.98
Total Bbls Hedged/day	1,386	1,598
Derivative, Underlying Basis	WTI	WTI
Put Option [Member] | Period Covered-2016 [Member]
Derivative [Line Items]
Weighted Average Floor Price	50	50
Total Bbls Hedged/day	1,875	1,475
Derivative, Underlying Basis	WTI
Put Option [Member] | Period Covered-2017 [Member]
Derivative [Line Items]
Weighted Average Floor Price	50	50
Total Bbls Hedged/day	1,932	1,932
Derivative, Underlying Basis	WTI
Collar [Member] | Period Covered-2016 [Member]
Derivative [Line Items]
Weighted Average Floor Price		50
Weighted Average Ceiling Price		50
Total Bbls Hedged/day		328
Collar [Member] | Period Covered-2017 [Member]
Derivative [Line Items]
Weighted Average Floor Price	40
Weighted Average Ceiling Price	50.68
Total Bbls Hedged/day	658
Derivative, Underlying Basis	WTI
Collar [Member] | Period Covered-2018 [Member] [Domain]
Derivative [Line Items]
Weighted Average Floor Price	45
Weighted Average Ceiling Price	58.54
Total Bbls Hedged/day	1,326
Derivative, Underlying Basis	WTI

Derivative Financial Instrume33

Derivative Financial Instruments Restructured Commodity Contracts (Details) - USD ($) $ in Thousands	Jan. 23, 2015	Nov. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cash settlements received for early terminations and modifications of derivatives, net			$ 0	$ 0	$ 0	$ 11,069
Derivative deferred premiums - settlements					$ 2,257		$ 1,941
Commodity Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cash settlements received for early terminations and modifications of derivatives, net	$ 11,100
Cash Received from Derivative - Calls	5,900
Cash paid for premiums	19,800
Fair Value of deferred premiums put option	4,100	$ 7,800
Derivative deferred premiums - settlements	$ 3,400	$ 800
Scenario, Forecast [Member] | Commodity Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Minimum coverage of projected production (percent)								50.00%	80.00%

Derivative Financial Instrume34

Derivative Financial Instruments - Summary of Gross Fair Value by Appropriate Balance Sheet Classification (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets [Abstract]
Gross Amounts of Recognized Assets	$ 13,030	$ 36,050
Gross Amounts Offset	(8,343)	(10,487)
Net Amount presented - Balance Sheet	4,687	25,563
Liabilities [Abstract]
Gross Amounts of Recognized Liabilities	(10,017)	(10,487)
Gross Amounts Offset	8,343	10,487
Net Amount presented - Balance Sheet	(1,674)	0
Gross Amount of Recognized Assets and Liabilities	3,013	25,563
Gross Amounts Offset	0	0
Net Assets Presented - Balance Sheet	3,013	25,563
Current Asset [Member]
Assets [Abstract]
Gross Amounts of Recognized Assets	10,598	29,973
Gross Amounts Offset	(5,911)	(5,554)
Net Amount presented - Balance Sheet	4,687	24,419
Long Term Asset [Member]
Assets [Abstract]
Gross Amounts of Recognized Assets	2,432	6,077
Gross Amounts Offset	(2,432)	(4,933)
Net Amount presented - Balance Sheet	0	1,144
Current Liability [Member]
Liabilities [Abstract]
Gross Amounts of Recognized Liabilities	(1,037)	(514)
Gross Amounts Offset	594	514
Net Amount presented - Balance Sheet	(443)	0
Gross Amount Deferred premium	(5,317)	(5,040)
Deferred Premium Offset Against Collateral	5,317	5,040
Deferred Premium	0	0
Long Term Liability [Member]
Liabilities [Abstract]
Gross Amounts of Recognized Liabilities	(1,264)
Gross Amounts Offset	33
Net Amount presented - Balance Sheet	(1,231)
Gross Amount Deferred premium	(2,399)	(4,933)
Deferred Premium Offset Against Collateral	2,399	4,933
Deferred Premium	$ 0	$ 0

Derivative Financial Instrume35

Derivative Financial Instruments - Impact of Derivative Financial Instruments within Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net settlements on matured derivatives	$ 6,191	$ 2,423	$ 17,285	$ 7,183
Net settlements on early terminations and modifications of derivatives	0	0	0	11,069
Change in fair value of derivatives, net	(16,279)	(11,294)	(24,805)	(25,479)
Total loss on derivatives, net	$ (10,088)	$ (8,871)	$ (7,520)	$ (7,227)

Fair Value Disclosures - Additi

Fair Value Disclosures - Additional Information (Details) - USD ($)	May 26, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair value measurement, discount rate (percent)				10.00%
Asset impairment charges		$ 895,000	$ 0	$ 895,000	$ 0
Impairment of assets held for sale	$ 3,600,000	$ 3,578,000	$ 0	$ 3,578,000	$ 0
Agreed upon sales price	$ 18,000,000

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets and Liabilities Measured at Fair Value on Recurring Basis and Nonrecurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments - asset	$ 4,687	$ 25,563
Derivative financial instruments - liability	1,674	0
Fair Value [Member] | Assets and Liabilities Measured at Fair Value on a Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments - asset	13,030	36,050
Derivative financial instruments - liability	2,301	514
Derivative deferred premiums - liability	7,716	9,973
Fair Value [Member] | Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	20,821
Asset retirement obligations	51	4,924
Asset retirement obligations related to assets held for sale	2,821
Impairment of proved oil and natural gas properties	895	103,938
Impairment of assets held for sale	3,578
Fair Value [Member] | Level 1 [Member] | Assets and Liabilities Measured at Fair Value on a Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments - asset	0	0
Derivative financial instruments - liability	0	0
Derivative deferred premiums - liability	0	0
Fair Value [Member] | Level 1 [Member] | Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	0
Asset retirement obligations	0	0
Asset retirement obligations related to assets held for sale	0
Impairment of proved oil and natural gas properties	0	0
Impairment of assets held for sale	0
Fair Value [Member] | Level 2 [Member] | Assets and Liabilities Measured at Fair Value on a Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments - asset	13,030	36,050
Derivative financial instruments - liability	2,301	514
Derivative deferred premiums - liability	0	0
Fair Value [Member] | Level 2 [Member] | Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	0
Asset retirement obligations	0	0
Asset retirement obligations related to assets held for sale	0
Impairment of proved oil and natural gas properties	0	0
Impairment of assets held for sale	0
Fair Value [Member] | Level 3 [Member] | Assets and Liabilities Measured at Fair Value on a Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments - asset	0	0
Derivative financial instruments - liability	0	0
Derivative deferred premiums - liability	7,716	9,973
Fair Value [Member] | Level 3 [Member] | Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	20,821
Asset retirement obligations	51	4,924
Asset retirement obligations related to assets held for sale	2,821
Impairment of proved oil and natural gas properties	895	$ 103,938
Impairment of assets held for sale	$ 3,578

Fair Value Disclosures - Summar

Fair Value Disclosures - Summary of Changes in assets (liabilities) - Level 3 (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance of Level 3 at beginning of period	$ (9,973)	$ 0
Derivative deferred premiums - purchases	0	(11,914)
Derivative deferred premiums - settlements	2,257	1,941
Balance of Level 3 at end of period	$ (7,716)	$ (9,973)

Asset Retirement Obligations -

Asset Retirement Obligations - Changes in Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Asset Retirement Obligation [Roll Forward]
Asset retirement obligation - beginning of period			$ 12,679	$ 7,363	$ 7,363
Liabilities incurred for new wells and interest			51		42
Liabilities settled upon plugging and abandoning wells			0		(40)
Asset Retirement Obligations Related To Sale Of Wells			(6)		0
Revision of estimates			0		4,882
Accretion expense	$ 159	$ 93	316	$ 185	432
Asset Retirement Obligation Non Current	10,219		10,219		12,679
Asset retirement obligations related to assets held for sale	$ (2,821)		$ (2,821)		0
Asset retirement obligation - end of period					$ 12,679

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - Revolving Credit Facility [Member] - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Revolving credit facility	$ 162,018	$ 180,000
Current portion	52,018	30,000
Long-term debt	$ 110,000	$ 150,000

Debt - Borrowings Outstanding (

Debt - Borrowings Outstanding (Details) - Revolving Credit Facility [Member] - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Revolving credit facility	$ 162,018	$ 180,000
Maturities of debt in 2016	52,000
Maturities of debt in 2018	110,000
Line of Credit [Member]
Line of Credit Facility [Line Items]
Revolving credit facility	162,000
Borrowing base	110,000
Permitted overadvance	$ 52,000

Debt - Credit Facility Effectiv

Debt - Credit Facility Effective Rates (Details) - Revolving Credit Facility [Member]	6 Months Ended
	Jun. 30, 2016
Line of Credit Facility [Line Items]
Average effective rate	4.13%
Federal Funds Effective Swap Rate [Member]
Line of Credit Facility [Line Items]
Federal funds effective rate	0.50%
LIBOR [Member]
Line of Credit Facility [Line Items]
Federal funds effective LIBOR	1.00%
Minimum [Member]
Line of Credit Facility [Line Items]
Margin	1.00%
Unused portion of borrowing base, percentage fee	0.375%
Minimum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Applicable margin rate	2.00%
Maximum [Member]
Line of Credit Facility [Line Items]
Margin	2.75%
Unused portion of borrowing base, percentage fee	0.50%
Maximum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Applicable margin rate	3.75%

Debt - Redetermination Details

Debt - Redetermination Details (Details) - USD ($)	May 31, 2016	May 31, 2016	Nov. 30, 2015	Jun. 30, 2016	Dec. 31, 2017	Dec. 31, 2016	Jul. 28, 2016	Jun. 30, 2015	Apr. 30, 2015
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 190,000,000					$ 240,000,000	$ 220,000,000
Debt Issuance Cost			700,000
LIne of credit overadvance	$ 53,000,000	$ 53,000,000
Required monthly principal payments		1,900,000
Percentage of collateral coverage of proved reserves	0.9			0.95
Percentage of PDP reserves				1
Proceeds from Hugoton sale required for debt reduction		17,900,000
Proceeds from hedge terminations required for debt reduction		4,300,000
Revolving Credit Facility [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity							$ 105,000,000
Revolving Credit Facility, Conforming Tranche [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 110,000,000	$ 110,000,000	165,000,000
Debt Instrument, Periodic Payment			2,500,000
Revolving Credit Facility, Conforming Tranche [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity							$ 105,000,000
Revolving Credit Facility, Non-conforming Tranche [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 25,000,000
Commodity Contract [Member] | Scenario, Forecast [Member]
Line of Credit Facility [Line Items]
Minimum coverage of projected production (percent)					50.00%	80.00%
Commodity Contract [Member] | Scenario, Forecast [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Minimum coverage of projected production (percent)					50.00%	80.00%

Commitment and Contingencies -

Commitment and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Commitments [Line Items]
Lease expenses	$ 100	$ 100	$ 200	$ 200
Remaining 2,016	257		257
2,017	403		403
2,018	408		408
2,019	413		413
2,020	418		418
2,021	423		423
Total	$ 2,322		2,322
Minimum [Member]
Other Commitments [Line Items]
Employee agreement termination payments			300
Maximum [Member]
Other Commitments [Line Items]
Employee agreement termination payments			$ 700

Equity - Additional Information

Equity - Additional Information (Details) - USD ($) $ in Millions	May 05, 2015	Jun. 30, 2016	Dec. 31, 2015
Equity [Line Items]
Limited partners, units outstanding		29,784,015	29,724,890
Limited partnership interest		98.80%
Maximum Proceeds Under Equity Distribution Agreement	$ 50

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Related Party Transaction [Line Items]
Net receivable from Mid-Con Energy Operating	$ 600		$ 600
Joint interest billing receivable	400		400
Payable for operating services	200		200
Mid-Con Energy Operating [Member]
Related Party Transaction [Line Items]
Direct administrative expenses paid	706	$ 827	1,526	$ 1,678
Related party op agreement fee paid	1,616	2,044	3,281	4,158
Related party oil field services	825	883	1,496	1,913
Costs and Expenses, Related Party	$ 3,147	$ 3,754	$ 6,303	$ 7,749

Subsequent Events (Details)

Subsequent Events (Details)	Aug. 01, 2016USD ($)$ / Bbls	Jul. 28, 2016USD ($)$ / sharesshares	Jul. 20, 2016shares	Jul. 01, 2016USD ($)$ / Bbls	Jun. 30, 2016USD ($)	Mar. 31, 2016shares	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jul. 29, 2016$ / Bbls
Subsequent Event [Line Items]
Net settlements on early terminations and modifications of derivatives					$ 0		$ 0	$ 0	$ 11,069,000
Proceeds from sale of oil and natural gas properties								$ 7,000	$ 0
Unrestricted Common Units [Member]
Subsequent Event [Line Items]
Units granted | shares						70,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Net settlements on early terminations and modifications of derivatives				$ 4.3
Barrels of future oil | $ / Bbls	150,000			300,000						150,000
Aggregate purchase price		$ 19,500,000
Proceeds from sale of oil and natural gas properties		$ 17,900,000
Class A Convertible Preferred Units | shares		20
Shares Issued, Price Per Share | $ / shares		$ 2.15
Additional Preferred Units | shares		5
Subsequent Event [Member] | Unrestricted Common Units [Member]
Subsequent Event [Line Items]
Units granted | shares			3,932
Subsequent Event [Member] | Equity-settled Phantom Awards [Member] | Share-based Compensation Award, Tranche One [Member]
Subsequent Event [Line Items]
Units granted | shares			323,000
Vesting percentage			33.00%
Subsequent Event [Member] | Equity-settled Phantom Awards [Member] | Share-based Compensation Award, Tranche Two [Member]
Subsequent Event [Line Items]
Vesting percentage			66.00%
Vesting period			2 years
Subsequent Event [Member] | Equity-settled Phantom Awards [Member] | Share-based Compensation Award, Tranche Three [Member]
Subsequent Event [Line Items]
Units granted | shares			27,000
Vesting period			3 years
Subsequent Event [Member] | Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Borrowings outstanding	$ 139,300,000
Debt repayments	$ 22,700,000
Subsequent Event [Member] | Minimum [Member]
Subsequent Event [Line Items]
Preferred Stock, Dividend Rate, Percentage		0.00%
Subsequent Event [Member] | Maximum [Member]
Subsequent Event [Line Items]
Preferred Stock, Dividend Rate, Percentage		0.00%