v3.8.0.1

Derivative Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Commodity Derivatives Volumes and Prices

At December 31, 2017, we had the following commodity derivatives positions outstanding:

Commodity and Period		Contract Type		Volume Transacted		Contract Price
Crude Oil
January 2018 — December 2018		Swap		300 Bbls/day		$50.00/Bbl
January 2018 — March 2018		Collar		1,000 Bbls/day		$50.00/Bbl - $55.05/Bbl
January 2018 — June 2018		Collar		500 Bbls/day		$55.00/Bbl - $60.00/Bbl
Natural Gas
January 2018 — December 2018		Swap		200,000 MMBtu/month		$3.085/MMBtu
January 2018 — December 2018		Swap		250,000 MMBtu/month		$3.084/MMBtu
NGLs (C3 - Propane)
January 2018 — March 2018		Swap		450 Bbls/day		$30.24/Bbl
NGLs (IC4 - Isobutane)
January 2018 — March 2018		Swap		50 Bbls/day		$36.12/Bbl
NGLs (NC4 - Butane)
January 2018 — March 2018		Swap		150 Bbls/day		$35.70/Bbl

After December 31, 2017, we entered into the following commodity derivative positions:

Commodity and Period		Contract Type		Volume Transacted		Contract Price
Crude Oil
January 2018 — September 2018		Swap		700 Bbls/day		$60.50/Bbl
April 2018 — September 2018		Swap		800 Bbls/day		$60.50/Bbl
NGLs (C2 - Ethane)
February 2018 — December 2018		Swap		1,000 Bbls/day		$11.424/Bbl
NGLs (C3 - Propane)
February 2018 — December 2018		Swap		600 Bbls/day		$32.991/Bbl
NGLs (IC4 - Isobutane)
February 2018 — December 2018		Swap		50 Bbls/day		$38.262/Bbl
NGLs (NC4 - Butane)
February 2018 — December 2018		Swap		200 Bbls/day		$38.22/Bbl
NGLs (C5 - Pentane)
January 2018 — December 2018		Swap		200 Bbls/day		$56.364/Bbl

Summary of Fair Value of Open Commodity Derivatives

The following summarizes the fair value of our open commodity derivatives as of December 31, 2017 and 2016 (in thousands):

		Balance Sheet Location		Fair Value
				December 31, 2017				December 31, 2016
Derivatives not designated as hedging    instruments
Commodity derivatives		Derivative assets		$	1,398			$	—
Commodity derivatives		Derivative liabilities			(2,181	)			(4,880	)

Summary of Cash Settlements and Change in Fair Value of Commodity Derivatives

The following summarizes the cash settlements and change in the fair value of our commodity derivatives (in thousands):

				Year Ended December 31,
				2017				2016				2015
Derivatives not designated as hedging instruments
Commodity derivatives		Net cash (payment) receipt on derivative settlements		$	(4,359	)		$	6,132			$	52,489
		Non-cash fair value gain (loss) on derivatives			4,097				(11,616	)			(33,214	)
		Commodity derivative (loss) gain		$	(262	)		$	(5,484	)		$	19,275

Summary of Financial Instruments Not Recorded at Fair Value

The following table sets forth the fair values of financial instruments that are not recorded at fair value on our financial statements (in thousands).

		December 31, 2017
		Carrying Amount				Fair Value
Senior Notes, net		$	84,185			$	74,798

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Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959

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Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959

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Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959

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