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Derivatives (Tables)
 9 Months Ended
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
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 September 30, 2018, and December 31, 2017 (in thousands):

September 30, 2018
Gross Amounts
Gross Amounts Offset
Amounts Net of Offset
Financial Collateral
Net Amount
Assets
Derivative contracts - current
$224 $(151)$73 $— $73 
Derivative contracts - noncurrent
— — — — — 
Total
$224 $(151)$73 $— $73 
Liabilities
Derivative contracts - current
$37,056 $(151)$36,905 $(36,905)$— 
Derivative contracts - noncurrent
6,791 — 6,791 (6,791)— 
Total
$43,847 $(151)$43,696 $(43,696)$— 

December 31, 2017
Gross Amounts
Gross Amounts Offset
Amounts Net of Offset
Financial 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 - noncurrent
3,568 — 3,568 (3,568)— 
Total
$18,467 $(4,272)$14,195 $(14,195)$— 
Open Oil and Natural Gas Commodity Derivative Contracts
At September 30, 2018, the Company’s open commodity derivative contracts consisted of the following:

Oil Price Swaps 
Notional (MBbls)
Weighted Average
Fixed Price
October 2018 - December 2018 828 $56.12 
January 2019 - December 2019 1,825 $54.29 

Natural Gas Price Swaps
Notional (MMcf)
Weighted Average
Fixed Price
October 2018 - December 2018 3,680 $3.11 
Fair Value of Derivatives
The following table presents the fair value of the Company’s derivative contracts as of September 30, 2018, and December 31, 2017, on a gross basis without regard to same-counterparty netting (in thousands):
Type of Contract
Balance Sheet Classification
September 30, 2018December 31, 2017
Derivative assets 
Natural gas price swaps
Derivative contracts-current $224 $5,582 
Derivative liabilities 
Oil price swaps Derivative contracts-current (37,056)(14,899)
Oil price swaps Derivative contracts-noncurrent (6,791)(3,568)
Total net derivative contracts
$(43,623)$(12,885)