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Commodity Risk Derivatives (Tables)
 3 Months Ended
Mar. 31, 2018
Price Risk Derivatives [Abstract]  
Schedule of Outstanding Crude Oil and Natural Gas Swaps

The Company had a net liability from commodity risk derivatives of $0.1 million at March 31, 2018. Presented below is a summary of outstanding crude oil and natural gas swaps as of March 31, 2018.

 

   

 

Position

     Begin     End    

Quantity

(bbls/d)

    

 

Price

  
                               
Crude oil price swaps     Bought       4/1/18       6/30/18       150       52.20  
Crude oil call option     Bought       4/1/18       4/30/18       150       60.00  

 

   

 

Position

     Begin     End    

Quantity

(mcf/d)

    

 

Price

  
                               
Natural gas price swaps     Bought       4/1/18       12/31/18       500       3.01  
                                         

 
Schedule of Fair Value Commodity Derivatives

The following table summarizes the fair value of our open commodity derivatives as of March 31, 2018, and December 31, 2017 (in thousands). Please see Note 13 for further disclosure.

 

    March 31, 2018     December 31, 2017  
Fair Value of Oil and Natural Gas Derivatives (in thousands)   Gross Amount     Amount Offset     As Presented     Gross Amount     Amount Offset     As Presented  
Fair value of oil and natural gas derivatives – Current Assets   $ 126     $ (126 )    $ -     $ 168     $ (168 )    $ -  
Fair value of oil and natural gas derivatives – Current Liabilities     (170 )      63       (107 )      (216 )      55       (161 )