Fair Value Measurements (Tables)

3 Months Ended

Sep. 30, 2015

Schedule of Fair Value Measurements of Assets and Liabilities

During the three months ended September 30, 2015, we did not have any transfers from or to Level 3. The following table sets forth our financial assets and liabilities that are accounted for at fair value on a recurring basis.


	September 30,		June 30,
	2015		2015
	(in thousands)
Assets
Derivative financial instruments
Current	$	2,461	$	888
Total derivative financial instruments subject to enforceable netting agreement		2,461		888
Gross amounts offset in consolidated balance sheets		(491)		-
Net amounts presented in consolidated balance sheets	$	1,970	$	888

Liabilities
Derivative financial instruments
Current	$	491	$	1,057
Total derivative financial instruments subject to enforceable netting agreement		491		1,057
Gross amounts offset in consolidated balance sheets		(491)		-
Net amounts presented in consolidated balance sheets	$	-	$	1,057

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments


	September 30, 2015				June 30, 2015
	(In thousands)
		Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
8.25% senior notes	$	536,018	$	138,955	$	539,459	$	306,000
Revolving credit sub-facility		150,000		150,000		150,000		150,000
Promissory note payable to EGC		325,000		325,000		325,000		325,000
Total	$	1,011,018	$	613,955	$	1,014,459	$	781,000

EPL OIL & GAS, INC. 10-Q