Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments (Tables)

v3.19.2
Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2019
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 June 30, 2019:
 
 
 
Average
 
Weighted
 
 
 
 
 
 
 
Volume Per
 
Average
 
Fair Value
 
Instrument
 
Day
 
Price
 
Asset
 
Liability
Crude Oil:
 
 
(barrels)
 
($/barrel)
 
 
 
 
Third quarter 2019
Swaps-WTI
 
7,397

 
$
55.70

 
$

 
$
1,677

Third quarter 2019
Swaps-LLS
 
5,000

 
$
59.17

 

 
1,589

Third quarter 2019
Swaps-MEH
 
1,000

 
$
64.00

 
15

 

Fourth quarter 2019
Swaps-WTI
 
7,398

 
$
55.70

 

 
1,222

Fourth quarter 2019
Swaps-LLS
 
5,000

 
$
59.17

 

 
1,059

Fourth quarter 2019
Swaps-MEH
 
1,000

 
$
64.00

 
46

 

First quarter 2020
Swaps-WTI
 
7,000

 
$
54.94

 

 
1,048

First quarter 2020
Swaps-MEH
 
2,000

 
$
61.03

 

 
108

Second quarter 2020
Swaps-WTI
 
7,000

 
$
54.94

 

 
375

Second quarter 2020
Swaps-MEH
 
2,000

 
$
61.03

 

 
75

Third quarter 2020
Swaps-WTI
 
7,000

 
$
54.93

 
164

 

Third quarter 2020
Swaps-MEH
 
2,000

 
$
61.03

 

 
52

Fourth quarter 2020
Swaps-WTI
 
7,000

 
$
54.93

 
569

 

Fourth quarter 2020
Swaps-MEH
 
2,000

 
$
61.03

 

 
51

Settlements to be paid in subsequent period
 
 
 
 

 


 
4


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 June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Derivative income (losses)
$
13,603

 
$
(52,241
)
 
$
(54,414
)
 
$
(71,036
)

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:
 
 
 
 
June 30, 2019
 
December 31, 2018
 
 
 
 
Derivative
 
Derivative
 
Derivative
 
Derivative
Type
 
Balance Sheet Location
 
Assets
 
Liabilities
 
Assets
 
Liabilities
Commodity contracts
 
Derivative assets/liabilities – current
 
$
7,182

 
$
14,203

 
$
34,932

 
$
991

Commodity contracts
 
Derivative assets/liabilities – noncurrent
 
2,756

 
2,201

 
10,100

 

 
 
 
 
$
9,938

 
$
16,404

 
$
45,032

 
$
991