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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Financial Instruments

Schedule of gain loss on derivatives

		Three months ended September 30,							Nine months ended September 30,
		2019				2018			2019					2018
Gain on derivatives:
Oil derivatives		$	492,530			$	—			$	917,482			$	—
Natural gas derivatives			332				—				7,749				—
Total		$	492,862			$	—			$	925,231			$	—

Schedule of net cash receipts from derivatives

		Three months ended September 30,							Nine months ended September 30,
		2019				2018			2019					2018
Net cash received from payments on derivatives
Oil derivatives		$	156,820			$	—			$	250,323			$	—
Natural gas derivatives			6,846				—				11,557				—
Total		$	163,666			$	—			$	261,880			$	—

Schedule of notional amounts of outstanding derivative

		1st Quarter				2nd Quarter				3rd Quarter				4th Quarter
2019
Oil Swaps:
Volume (MBbl)			—				—				—				24.58
Price per Bbl			—				—				—			$	61.37
2020
Oil Swaps:
Volume (MBbl)			23.41				23.17				22.94				20.94
Price per Bbl		$	60.32			$	59.53			$	58.26			$	55.09
2021
Oil Swaps:
Volume (MBbl)			15.51				6.69				4.50				—
Price per Bbl		$	49.29			$	49.25			$	49.11				—

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the notional amounts of outstanding derivative positions.

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