Derivative And Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative And Financial Instruments

Summary Of Derivative Contracts In Place

MTM Fixed Price Swaps – NYMEX (Henry Hub)

	Three Months Ended (volume in MMBtu)
	March 31,			June 30,			September 30,			December 31,			Total
		Average			Average			Average			Average			Average
	Volume	Price		Volume	Price		Volume	Price		Volume	Price		Volume	Price
2020	105,104	$	2.85	102,008	$	2.85	99,136	$	2.85	96,200	$	2.85	402,448	$	2.85

MTM Fixed Price Basis Swaps – West Texas Intermediate (WTI)

	Three Months Ended (volume in Bbls)
	March 31,			June 30,			September 30,			December 31,			Total
		Average			Average			Average			Average			Average
	Volume	Price		Volume	Price		Volume	Price		Volume	Price		Volume	Price
2020	52,776	$	53.50	50,960	$	53.50	49,224	$	53.50	47,624	$	53.50	200,584	$	53.50

Fair Value for Risk Management Assets and Liabilities

The following table sets forth a reconciliation of the changes in fair value of the Partnership’s commodity derivatives for the years ended December 31, 2019 and 2018 (in thousands):

	Years Ended December 31,
	2019		2018
Beginning fair value of commodity derivatives	$	3,914	$	1,231
Net gain (loss) on crude oil derivatives		(4,031)		1,400
Net gain (loss) on natural gas derivatives		259		(84)
Net settlements paid (received) on derivative contracts:
Oil		(807)		1,330
Natural gas		(94)		37
Ending fair value of commodity derivatives	$	(759)	$	3,914

Schedule Of Effect Of Derivative Instruments On Consolidated Statements Of Operations

The effect of derivative instruments on our consolidated statements of operations was as follows (in thousands):

	Location of Gain (Loss)	Years Ended December 31,
Derivative Type	in Income	2019		2018
Commodity – Mark-to-Market	Oil sales	$	(4,031)	$	1,400
Commodity – Mark-to-Market	Natural gas sales		259		(84)
		$	(3,772)	$	1,316