XML 40 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivatives (Tables)
 6 Months Ended
Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Offsetting Assets and Liabilities
The following tables summarize (i) the Company's commodity derivative contracts on a gross basis, (ii) the effects of netting assets and liabilities for which the right of offset exists based on master netting arrangements and (iii) for the Company’s net derivative liability positions, the applicable portion of shared collateral under the credit facility as of June 30, 2018, and December 31, 2017 (in thousands):

June 30, 2018

Gross Amounts Gross Amounts Offset Amounts Net of OffsetFinancial Collateral Net Amount 
Assets 
Derivative contracts - current$1,079 $(1,079)$— $— $— 
Derivative contracts - noncurrent— — — — — 
Total$1,079 $(1,079)$— $— $— 
Liabilities 
Derivative contracts - current$36,362 $(1,079)$35,283 $(35,283)$— 
Derivative contracts - noncurrent8,642 — 8,642 (8,642)— 
Total$45,004 $(1,079)$43,925 $(43,925)$— 



December 31, 2017
Gross Amounts Gross Amounts Offset Amounts Net of OffsetFinancial Collateral Net Amount 
Assets 
Derivative contracts - current$5,582 $(4,272)$1,310 $— $1,310 
Derivative contracts - noncurrent— — — — — 
Total$5,582 $(4,272)$1,310 $— $1,310 
Liabilities 
Derivative contracts - current$14,899 $(4,272)$10,627 $(10,627)$— 
Derivative contracts - noncurrent3,568 — 3,568 (3,568)— 
Total$18,467 $(4,272)$14,195 $(14,195)$— 
Open Oil and Natural Gas Commodity Derivative Contracts
At June 30, 2018, the Company’s open commodity derivative contracts consisted of the following:

Oil Price Swaps 
Notional (MBbls)
Weighted Average
Fixed Price
July 2018 - December 20181,748 $56.08 
January 2019 - December 20191,825 $54.29 


Natural Gas Price Swaps
Notional (MMcf)
Weighted Average
Fixed Price
July 2018 - December 20187,360 $3.11 
Fair Value of Derivatives
The following table presents the fair value of the Company’s derivative contracts as of June 30, 2018, and December 31, 2017, on a gross basis without regard to same-counterparty netting (in thousands):

Type of Contract Balance Sheet Classification June 30, 2018December 31, 2017
Derivative assets 
Natural gas price swapsDerivative contracts-current$1,079 $5,582 
Derivative liabilities
Oil price swapsDerivative contracts-current(36,362)(14,899)
Oil price swapsDerivative contracts-noncurrent(8,642)(3,568)
Total net derivative contracts $(43,925)$(12,885)