Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments (Tables)

v3.10.0.1
Derivative Instruments (Tables)
9 Months Ended
Sep. 30, 2018
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, 2018:
 
 
 
Average
 
Weighted
 
 
 
 
 
 
 
Volume Per
 
Average
 
Fair Value
 
Instrument
 
Day
 
Price
 
Asset
 
Liability
Crude Oil:
 
 
(barrels)
 
($/barrel)
 
 
 
 
Fourth quarter 2018
Swaps-WTI
 
10,455

 
$
57.05

 
$

 
$
15,125

Fourth quarter 2018
Swaps-LLS
 
6,000

 
$
65.27

 

 
8,128

First quarter 2019
Swaps-WTI
 
6,446

 
$
54.46

 

 
9,948

First quarter 2019
Swaps-LLS
 
5,000

 
$
59.17

 

 
8,386

Second quarter 2019
Swaps-WTI
 
6,421

 
$
54.48

 

 
9,413

Second quarter 2019
Swaps-LLS
 
5,000

 
$
59.17

 

 
7,717

Third quarter 2019
Swaps-WTI
 
6,397

 
$
54.50

 

 
8,722

Third quarter 2019
Swaps-LLS
 
5,000

 
$
59.17

 

 
6,874

Fourth quarter 2019
Swaps-WTI
 
6,398

 
$
54.50

 

 
7,925

Fourth quarter 2019
Swaps-LLS
 
5,000

 
$
59.17

 

 
6,057

First quarter 2020
Swaps-WTI
 
6,000

 
$
54.09

 

 
6,786

Second quarter 2020
Swaps-WTI
 
6,000

 
$
54.09

 

 
6,142

Third quarter 2020
Swaps-WTI
 
6,000

 
$
54.09

 

 
5,593

Fourth quarter 2020
Swaps-WTI
 
6,000

 
$
54.09

 

 
5,068

Settlements to be paid in subsequent period
 
 
 
 

 


 
6,327

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:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Derivative (losses) gains
$
(40,689
)
 
$
(12,275
)
 
$
(111,725
)
 
$
15,802

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, 2018
 
December 31, 2017
 
 
 
 
 
Derivative
 
 
Derivative
Type
 
Balance Sheet Location
 
 
Liabilities
 
 
Liabilities
Commodity contracts
 
Derivative assets/liabilities – current
 
 
$
80,641

 
 
$
27,777

Commodity contracts
 
Derivative assets/liabilities – noncurrent
 
 
37,570

 
 
13,900

 
 
 
 
 
$
118,211

 
 
$
41,677