Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments (Tables)

v3.7.0.1
Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Commodity Derivative Positions
The following table sets forth our commodity derivative positions as of June 30, 2017:
 
 
 
Average
 
Weighted
 
 
 
 
 
 
 
Volume Per
 
Average
 
Fair Value
 
Instrument
 
Day
 
Swap Price
 
Asset
 
Liability
Crude Oil:
 
 
(barrels)
 
($/barrel)
 
 
 
Third quarter 2017
Swaps
 
4,408

 
$
48.59

 
$
903,636

 
$

Fourth quarter 2017
Swaps
 
4,408

 
$
48.59

 
591,129

 

First quarter 2018
Swaps
 
3,476

 
$
49.10

 
419,761

 

Second quarter 2018
Swaps
 
3,476

 
$
49.10

 
299,826

 

Third quarter 2018
Swaps
 
3,476

 
$
49.10

 
193,534

 

Fourth quarter 2018
Swaps
 
3,476

 
$
49.10

 
82,328

 

First quarter 2019
Swaps
 
2,916

 
$
49.75

 
160,594

 

Second quarter 2019
Swaps
 
2,916

 
$
49.75

 
88,824

 

Third quarter 2019
Swaps
 
2,916

 
$
49.75

 
24,775

 

Fourth quarter 2019
Swaps
 
2,916

 
$
49.75

 

 
56,550

Settlements to be received in subsequent period
 
 
 
 

 
457,245

 


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
 
Successor
 
 
Predecessor
 
Three Months Ended
 
 
Three Months Ended
 
Six Months Ended
 
 
Six Months Ended
 
June 30, 2017
 
 
June 30, 2016
 
June 30, 2017
 
 
June 30, 2016
 
 
 
 
 
 
 
 
 
 
Derivative gains (losses)
$
11,061

 
 
$
(21,759
)
 
$
28,077

 
 
$
(17,267
)
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
 
 
 
June 30, 2017
 
December 31, 2016
 
 
 
Derivative
 
Derivative
 
Derivative
 
Derivative
Type
 
Balance Sheet Location
Assets
 
Liabilities
 
Assets
 
Liabilities
Commodity contracts
 
Derivative assets/liabilities – current
$
2,672

 
$

 
$

 
$
12,932

Commodity contracts
 
Derivative assets/liabilities – noncurrent
584

 
90

 

 
14,437

 
 
 
$
3,256

 
$
90

 
$

 
$
27,369