Derivative instruments (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

In January and February 2019, we entered into several derivative contracts with varying maturities outlined below:



		Weighted average fixed price per Bbl
Period and type of contract	Volume MBbls	Swaps
2019
Oil swaps	106	$	55.59
2020
Oil swaps	240	$	52.43
2021
Oil swaps	146	$	53.31



Period and type of contract	Volume BBtu	Weighted average fixed price per MMBtu
2019
Natural gas basis swaps	5,790	$	(0.56	)
Natural gas swaps	4,800	$	2.86
2020
Natural gas basis swaps	3,600	$	(0.46	)
Natural gas swaps	2,400	$	2.73

The following table summarizes our crude oil derivatives outstanding as of December 31, 2018:



	Volume	Weighted average fixed price per Bbl
Period and type of contract	MBbls	Swaps
2019
Oil swaps	2,322	$	56.20
Oil roll swaps	530	$	0.52
2020
Oil swaps	1,767	$	50.30
Oil roll swaps	410	$	0.38
2021
Oil swaps	544	$	44.34
Oil roll swaps	150	$	0.30

The following table summarizes our natural gas derivative instruments outstanding as of December 31, 2018:



		Weighted average fixed price per MMBtu
Period and type of contract	Volume BBtu	Swaps			Purchase puts		Sold calls
2019
Natural gas swaps	9,461	$	2.85		$	—	$	—
Natural gas basis swaps	5,701	$	(0.67	)	$	—	$	—
Natural gas collars	240	$	—		$	4.00	$	5.07
2020
Natural gas swaps	3,600	$	2.77		$	—	$	—

The following table summarizes our natural gas liquids derivative instruments outstanding as of December 31, 2018:



	Volume	Weighted average fixed price per gallon
Period and type of contract	Gallons	Swaps
2019
Natural gasoline swaps	4,956	$	1.39
Propane swaps	11,466	$	0.74
2020
Natural gasoline swaps	1,890	$	1.39
Oil roll swaps	4,284	$	0.74

Derivative instruments recorded on the balance sheet at fair value

The estimated fair values of derivative instruments are provided below. The carrying amounts of these instruments are equal to the estimated fair values.



	As of December 31, 2018								As of December 31, 2017
	Assets			Liabilities			Net value		Assets		Liabilities			Net value
Natural gas derivative contracts	$	833		$	(488	)	$	345	$	1,332	$	(1,054	)	$	278
NGL derivative contracts	4,581			—			4,581		—		—			—
Crude oil derivative contracts	24,208			(4,452		)	19,756		—		(13,404		)	(13,404		)
Total derivative instruments	29,622			(4,940		)	24,682		1,332		(14,458		)	(13,126		)
Less:
Netting adjustments (1)	(3,398		)	3,398			—		1,332		(1,332		)	—
Derivative instruments - current	24,025			—			24,025		—		(8,959		)	(8,959		)
Derivative instruments - long-term	$	2,199		$	(1,542	)	$	657	$	—	$	(4,167	)	$	(4,167	)

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(1)	Amounts represent the impact of master netting agreements that allow us to net settle positive and negative positions with the same counterparty. Positive and negative positions with counterparties are netted only to the extent that they related to the same current versus noncurrent classification on the balance sheet.

Non-hedge derivative gains (losses) in the consolidated statements of operations

“Non-hedge derivative (losses) gains” in the consolidated statements of operations is comprised of the following:



	Successor						Predecessor
	Period from			Period from			Period from		Period from
	January 1, 2018			March 22, 2017			January 1, 2017		January 1, 2016
	through			through			through		through
	December 31, 2018			December 31, 2017			March 21, 2017		December 31, 2016
Change in fair value of commodity price derivatives	$	37,807		$	(46,478	)	$	46,721	$	(176,607	)
Settlement (losses) gains on commodity price derivatives	(18,510		)	15,676			1,285		62,626
Settlement gains on early terminations of commodity price derivatives	—			—			—		91,144
Non-hedge derivative (losses) gains	$	19,297		$	(30,802	)	$	48,006	$	(22,837	)