Annual report pursuant to Section 13 and 15(d)

Derivative Instruments (Tables)

v3.10.0.1
Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Commodity Derivative Positions
The following table sets forth our commodity derivative positions as of December 31, 2018:
 
 
 
Average
 
Weighted
 
 
 
 
 
 
 
Volume Per
 
Average
 
Fair Value
 
Instrument
 
Day
 
Price
 
Asset
 
Liability
Crude Oil:
 
 
(barrels)
 
($/barrel)
 
 
 
 
First quarter 2019
Swaps-WTI
 
6,446

 
$
54.46

 
$
4,959

 
$

First quarter 2019
Swaps-LLS
 
5,000

 
$
59.17

 
3,684

 

Second quarter 2019
Swaps-WTI
 
6,421

 
$
54.48

 
4,307

 

Second quarter 2019
Swaps-LLS
 
5,000

 
$
59.17

 
3,203

 

Third quarter 2019
Swaps-WTI
 
6,397

 
$
54.50

 
3,821

 

Third quarter 2019
Swaps-LLS
 
5,000

 
$
59.17

 
3,092

 

Fourth quarter 2019
Swaps-WTI
 
6,398

 
$
54.50

 
3,498

 

Fourth quarter 2019
Swaps-LLS
 
5,000

 
$
59.17

 
3,015

 

First quarter 2020
Swaps-WTI
 
6,000

 
$
54.09

 
2,807

 

Second quarter 2020
Swaps-WTI
 
6,000

 
$
54.09

 
2,609

 

Third quarter 2020
Swaps-WTI
 
6,000

 
$
54.09

 
2,450

 

Fourth quarter 2020
Swaps-WTI
 
6,000

 
$
54.09

 
2,234

 

Settlements to be received in subsequent period, net
 
 

 
 

 
4,362

 
 


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
 
 
 
 
 
September 13 Through
 
 
January 1 Through
 
Year Ended December 31,
 
December 31,
 
 
September 12,
 
2018
 
2017
 
2016
 
 
2016
Derivative gains (losses)
$
37,427

 
$
(17,819
)
 
$
(16,622
)
 
 
$
(8,333
)
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:
 
 
 
 
Fair Values
 
 
 
 
December 31, 2018
 
December 31, 2017
 
 
 
 
Derivative
 
Derivative
 
Derivative
 
Derivative
Type
 
Balance Sheet Location
 
Assets
 
Liabilities
 
Assets
 
Liabilities
Commodity contracts
 
Derivative assets/liabilities – current
 
$
34,932

 
$
991

 
$

 
$
27,777

Commodity contracts
 
Derivative assets/liabilities – noncurrent
 
10,100

 

 

 
13,900

 
 
 
 
$
45,032

 
$
991

 
$

 
$
41,677