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RISK MANAGEMENT (Tables)
9 Months Ended
Sep. 30, 2019
RISK MANAGEMENT [Abstract]  
Commodity Contracts

 

 

 

 

 

 

 

    

 

    

Weighted Average

Period Covered

 

Hedged Volume

 

Fixed Price

Oil (Bbls):

 

  

 

 

  

Swaps - October 2019 to December 2019

 

121,900

 

$

63.53

Swaps - January 2020 to December 2020

 

439,200

 

$

60.50

 

 

 

 

 

 

Natural Gas (MMBtus):

 

  

 

 

  

Swaps - October 2019 to December 2019

 

3,450,000

 

$

2.78

Swaps - January 2020 to December 2020

 

12,810,000

 

$

2.68

 

 

 

 

 

 

Natural Gas Liquids (Bbls):

 

  

 

 

  

Swaps - October 2019 to December 2019

 

30,360

 

$

22.50

Swaps - January 2020 to December 2020

 

111,630

 

$

20.71

 

Fair Value of Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Net Amounts

 

 

Gross

 

Gross Amounts

 

of Assets

 

 

Amount of

 

Offset in the

 

Presented in the

 

 

Recognized

 

Consolidated

 

Consolidated

 

 

Assets

 

Balance Sheet

 

Balance Sheet

As of September 30, 2019:

 

 

  

 

 

  

 

 

  

Derivative asset

 

$

8,745

 

$

 —

 

$

8,745

Long-term derivative asset

 

 

1,933

 

 

 —

 

 

1,933

Total

 

$

10,678

 

$

 —

 

$

10,678

 

 

 

 

 

 

 

 

 

 

As of December 31, 2018:

 

 

  

 

 

  

 

 

  

Derivative asset

 

$

18,048

 

$

(2,596)

 

$

15,452

Long-term derivative asset

 

 

8,565

 

 

(66)

 

 

8,499

Total

 

$

26,613

 

$

(2,662)

 

$

23,951

 

 

 

 

 

 

 

 

 

 

Derivative liability

 

$

3,761

 

$

(2,596)

 

$

1,165

Long-term derivative liability

 

 

66

 

 

(66)

 

 

 —

Total

 

$

3,827

 

$

(2,662)

 

$

1,165