Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments (Tables)

v3.8.0.1
Derivative Instruments (Tables)
9 Months Ended
Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Commodity Derivative Positions
The following table sets forth our commodity derivative positions, presented on a net basis by period of maturity, as of September 30, 2017:
 
 
 
Average
 
Weighted
 
 
 
 
 
 
 
Volume Per
 
Average
 
Fair Value
 
Instrument
 
Day
 
Price
 
Asset
 
Liability
Crude Oil:
 
 
(barrels)
 
($/barrel)
 
 
 
Fourth quarter 2017
Swaps
 
4,381

 
$
48.59

 
$

 
$
1,361

First quarter 2018
Swaps/Put option 1
 
8,513

 
$
47.98

 

 
2,427

Second quarter 2018
Swaps/Put option 1
 
8,484

 
$
47.98

 

 
1,971

Third quarter 2018
Swaps/Put option 1
 
8,455

 
$
47.98

 

 
1,563

Fourth quarter 2018
Swaps/Put option 1
 
8,455

 
$
47.98

 

 
1,251

First quarter 2019
Swaps
 
2,946

 
$
49.87

 

 
356

Second quarter 2019
Swaps
 
2,921

 
$
49.87

 

 
307

Third quarter 2019
Swaps
 
2,897

 
$
49.87

 

 
258

Fourth quarter 2019
Swaps
 
2,898

 
$
49.87

 

 
231

Settlements to be paid in subsequent period
 
 
 
 

 


 
172

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 Ended
 
Period from September 13, 2016
 
 
Period from July 1, 2016
 
September 30, 2017
 
Through September 30, 2106
 
 
Through September 12, 2016
 
 
 
 
 
 
 
Derivative gains (losses)
$
(12,275
)
 
$
(4,369
)
 
 
$
8,934

 
Successor
 
 
Predecessor
 
Nine Months Ended
 
Period from September 13, 2016
 
 
Period from January 1, 2016
 
September 30, 2017
 
Through September 30, 2106
 
 
Through September 12, 2016
 
 
 
 
 
 
 
Derivative gains (losses)
$
15,802

 
$
(4,369
)
 
 
$
(8,333
)
Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets
The following table summarizes the fair values of our derivative instruments presented on a gross basis, as well as the locations of these instruments on our Condensed Consolidated Balance Sheets as of the dates presented:
 
 
 
September 30, 2017
 
December 31, 2016
 
 
 
Derivative
 
Derivative
 
Derivative
 
Derivative
Type
 
Balance Sheet Location
Assets
 
Liabilities
 
Assets
 
Liabilities
Commodity contracts
 
Derivative assets/liabilities – current
$
6,140

 
$
13,634

 
$

 
$
12,932

Commodity contracts
 
Derivative assets/liabilities – noncurrent
2,520

 
4,923

 

 
14,437

 
 
 
$
8,660

 
$
18,557

 
$

 
$
27,369