Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments (Tables)

v3.7.0.1
Derivative Instruments (Tables)
3 Months Ended
Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Commodity Derivative Positions
The following table sets forth our commodity derivative positions as of March 31, 2017:
 
 
 
Average
 
 
 
 
 
 
 
 
 
Volume Per
 
Weighted Average Price
 
Fair Value
 
Instrument
 
Day
 
Floor/Swap
 
Ceiling
 
Asset
 
Liability
Crude Oil:
 
 
(barrels)
 
($/barrel)
 
 
 
 
Second quarter 2017
Swaps
 
4,408

 
$
48.62

 
 
 
$

 
$
1,003

Third quarter 2017
Swaps
 
4,408

 
$
48.62

 
 
 

 
1,286

Fourth quarter 2017
Swaps
 
4,408

 
$
48.62

 
 
 

 
1,355

First quarter 2018
Swaps
 
3,476

 
$
49.12

 
 
 

 
881

Second quarter 2018
Swaps
 
3,476

 
$
49.12

 
 
 

 
838

Third quarter 2018
Swaps
 
3,476

 
$
49.12

 
 
 

 
780

Fourth quarter 2018
Swaps
 
3,476

 
$
49.12

 
 
 

 
718

First quarter 2019
Swaps
 
2,916

 
$
49.90

 
 
 

 
359

Second quarter 2019
Swaps
 
2,916

 
$
49.90

 
 
 

 
338

Third quarter 2019
Swaps
 
2,916

 
$
49.90

 
 
 

 
329

Fourth quarter 2019
Swaps
 
2,916

 
$
49.90

 
 
 

 
332

Settlements to be paid in subsequent period
 
 
 
 

 
 
 

 
142

Impact of Derivative Activities on Condensed Consolidated Statements of Income
The impact of our derivative activities on income is included in “Derivatives” in our Condensed Consolidated Statements of Operations. The following table summarizes the effects of our derivative activities for the periods presented:
 
Successor
 
 
Predecessor
 
Three Months
 
 
Three Months
 
Ended
 
 
Ended
 
March 31, 2017
 
 
March 31, 2016
 
 
 
 
 
Derivative gains
$
17,016

 
 
$
4,492

Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets
The following table summarizes the fair values of our derivative instruments, as well as the locations of these instruments on our Condensed Consolidated Balance Sheets as of the dates presented:
 
 
 
Fair Values as of
 
 
 
March 31, 2017
 
December 31, 2016
 
 
 
Derivative
 
Derivative
 
Derivative
 
Derivative
Type
 
Balance Sheet Location
Assets
 
Liabilities
 
Assets
 
Liabilities
Commodity contracts
 
Derivative assets/liabilities – current
$

 
$
4,667

 
$

 
$
12,932

Commodity contracts
 
Derivative assets/liabilities - noncurrent

 
3,694

 

 
14,437

 
 
 
$

 
$
8,361

 
$

 
$
27,369