Derivative And Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative And Financial Instruments

Summary Of Derivative Contracts In Place

Fixed Price Basis Swaps – West Texas Intermediate (WTI)

	June 30,			September 30,			December 31,			Total
		Average			Average			Average			Average
	Volume	Price		Volume	Price		Volume	Price		Volume	Price
2020	50,960	$	53.50	49,224	$	53.50	47,624	$	53.50	147,808	$	53.50

Fixed Price Swaps – NYMEX (Henry Hub)

	June 30,			September 30,			December 31,			Total
		Average			Average			Average			Average
	Volume	Price		Volume	Price		Volume	Price		Volume	Price
2020	102,008	$	2.85	99,136	$	2.85	96,200	$	2.85	297,344	$	2.85

Schedule Of Effect Of Derivative Instruments On Consolidated Statements Of Operations

	Three Months Ended		Year Ended
	March 31, 2020		December 31, 2019
Beginning fair value of commodity derivatives	$	(759)	$	3,914
Net gains (losses) on crude oil derivatives		4,826		(4,031)
Net gains on natural gas derivatives		122		259
Net settlements received on derivative contracts:
Oil		(381)		(807)
Natural gas		(94)		(94)
Ending fair value of commodity derivatives	$	3,714	$	(759)

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

	Location of Gain (Loss)	Three Months Ended March 31,
Derivative Type	in Income	2020		2019
Commodity – Mark-to-Market	Oil sales	$	4,826	$	(4,484)
Commodity – Mark-to-Market	Natural gas sales		122		(40)
		$	4,948	$	(4,524)