v3.8.0.1

Derivative Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Outstanding Commodity Derivatives Volumes and Prices

The following table provides our outstanding commodity derivative positions at March 31, 2018.

Commodity and Period		Contract Type		Volume Transacted		Contract Price
Crude Oil
April 2018 – December 2018		Swap		300 Bbls/day		$50.00/Bbl
April 2018 – June 2018		Collar		500 Bbls/day		$55.00/Bbl - $60.00/Bbl
April 2018 – September 2018		Swap		1,500 Bbls/day		$60.50/Bbl
Natural Gas
April 2018 – December 2018		Swap		200,000 MMBtu/month		$3.085/MMBtu
April 2018 – December 2018		Swap		250,000 MMBtu/month		$3.084/MMBtu
NGLs (C2 - Ethane)
April 2018 – December 2018		Swap		1,000 Bbls/day		$11.424/Bbl
NGLs (C3 - Propane)
April 2018 – December 2018		Swap		600 Bbls/day		$32.991/Bbl
NGLs (IC4 - Isobutane)
April 2018 – December 2018		Swap		50 Bbls/day		$38.262/Bbl
NGLs (NC4 - Butane)
April 2018 – December 2018		Swap		200 Bbls/day		$38.22/Bbl
NGLs (C5 - Pentane)
April 2018 – December 2018		Swap		200 Bbls/day		$56.364/Bbl

Summary of Fair Value of Open 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).

		Balance Sheet Location		Fair Value
				March 31,				December 31,
				2018				2017
Derivatives not designated as hedging instruments
Commodity derivatives		Derivative assets		$	1,250			$	1,398
Commodity derivatives		Derivative liabilities			(2,430	)			(2,181	)

Summary of Change in Fair Value of Commodity Derivatives

The following table summarizes the change in the fair value of our commodity derivatives (in thousands).

				Three Months Ended
				March 31,
				2018				2017
Derivatives not designated as hedging instruments
Commodity derivatives		Net cash payment on derivative settlements		$	(1,531	)		$	(961	)
		Non-cash fair value (loss) gain on derivatives			(397	)			4,405
		Commodity derivative (loss) gain		$	(1,928	)		$	3,444

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).

		March 31, 2018
		Carrying Amount				Fair Value
Senior Notes		$	84,260			$	80,978

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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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