Annual report pursuant to Section 13 and 15(d)

Derivative Instruments (Tables)

v3.6.0.2
Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Commodity Derivative Positions
The following table sets forth our commodity derivative positions as of December 31, 2016:
 
 
 
Average
 
 
 
 
 
 
 
 
 
Volume Per
 
Weighted Average Price
 
Fair Value
 
Instrument
 
Day
 
Floor/Swap
 
Ceiling
 
Asset
 
Liability
Crude Oil:
 
 
(barrels)
 
($/barrel)
 
 
 
 
First quarter 2017
Swaps
 
4,408

 
$
48.62

 

 
$

 
$
2,454

Second quarter 2017
Swaps
 
4,408

 
$
48.62

 

 

 
3,110

Third quarter 2017
Swaps
 
4,408

 
$
48.62

 

 

 
3,290

Fourth quarter 2017
Swaps
 
4,408

 
$
48.62

 

 

 
3,260

First quarter 2018
Swaps
 
3,476

 
$
49.12

 

 

 
2,267

Second quarter 2018
Swaps
 
3,476

 
$
49.12

 

 

 
2,193

Third quarter 2018
Swaps
 
3,476

 
$
49.12

 

 

 
2,140

Fourth quarter 2018
Swaps
 
3,476

 
$
49.12

 

 

 
2,091

First quarter 2019
Swaps
 
2,916

 
$
49.90

 

 

 
1,471

Second quarter 2019
Swaps
 
2,916

 
$
49.90

 

 

 
1,438

Third quarter 2019
Swaps
 
2,916

 
$
49.90

 

 

 
1,423

Fourth quarter 2019
Swaps
 
2,916

 
$
49.90

 

 

 
1,414

Settlements to be paid in subsequent period
 
 

 
 

 
 

 
 
 
818

Impact of Derivative Activities on Condensed Consolidated Statements of Income
The impact of our derivatives activities on income is included in the “Derivatives” caption on our Consolidated Statements of Operations. The following table summarizes the effects of our derivative activities for the periods presented:
 
Successor
 
 
Predecessor
 
Period From September 13, 2016
 
 
Period From January 1, 2016
 
Year Ended December 31,
 
Through December 31, 2016
 
 
Through September 12, 2016
 
2015
 
2014
 
 
 
 
 
 
 
 
 
Derivative gains (losses)
$
(16,622
)
 
 
$
(8,333
)
 
$
71,247

 
$
162,212

Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets
The following table summarizes the fair value of our derivative instruments, as well as the locations of these instruments, on our Consolidated Balance Sheets as of the dates presented:
 
 
 
 
Successor
 
 
Predecessor
 
 
 
 
Fair Values
 
 
 
 
December 31, 2016
 
 
December 31, 2015
 
 
 
 
Derivative
 
Derivative
 
 
Derivative
 
Derivative
Type
 
Balance Sheet Location
 
Assets
 
Liabilities
 
 
Assets
 
Liabilities
Commodity contracts
 
Derivative assets/liabilities – current
 
$

 
$
12,932

 
 
$
97,956

 
$

Commodity contracts
 
Derivative assets/liabilities – noncurrent
 

 
14,437

 
 

 

 
 
 
 
$

 
$
27,369

 
 
$
97,956

 
$