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Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of commodity derivative activity

Derivatives as of December 31, 2018 consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

  Gross Amounts

 

  Gross Amounts

 

Net Amount

 

    

Recognized

    

Offset

    

Presented

Assets:

 

 

  

 

 

  

 

 

  

Commodity swaps:

 

 

 

 

 

 

 

 

 

Current portion of derivative assets, related party

 

$

1,508

 

$

 —

 

$

1,508

Long-term portion of derivative assets, related party

 

 

8,824

 

 

 —

 

 

8,824

Total derivative assets

 

$

10,332

 

$

 —

 

$

10,332

 

Derivatives and embedded derivatives as of as of December 31, 2019 consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

  Gross Amounts

 

  Gross Amounts

 

Net Amount

 

    

Recognized

    

Offset

    

Presented

Assets:

 

 

  

 

 

  

 

 

  

Commodity swaps:

 

 

 

 

 

 

 

 

 

Long-term portion of derivative assets, related party

 

$

3,270

 

$

 —

 

$

3,270

Fueling agreements:

 

 

 

 

 

 

 

 

 

Prepaid expenses and other current assets

 

 

232

 

 

 —

 

 

232

Notes receivable and other long-term assets, net

 

 

491

 

 

 —

 

 

491

Total derivative assets

 

$

3,993

 

$

 —

 

$

3,993

Liabilities:

 

 

  

 

 

  

 

 

  

Commodity swaps:

 

 

 

 

 

 

 

 

 

Current portion of derivative liabilities, related party

 

$

164

 

$

 —

 

$

164

Fueling agreements:

 

 

 

 

 

 

 

 

 

Accrued liabilities

 

 

42

 

 

 —

 

 

42

Other long-term liabilities

 

 

39

 

 

 —

 

 

39

Total derivative liabilities

 

$

245

 

$

 —

 

$

245

 

Schedule of weighted-average price of open commodity swap contract

The following table reflects the weighted-average price of open commodity swap contracts as of December 31, 2018 and 2019, by year with associated volumes:

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

December 31, 2019

 

 

Volumes

 

  Weighted -Average Price per

 

Volumes

 

  Weighted -average Price per

Year

    

(Diesel Gallons)

    

Diesel Gallon

    

(Diesel Gallons)

    

Diesel Gallon

2019

 

3,125,000

 

$

3.18

 

 —

 

$

 —

2020

 

5,000,000

 

$

3.18

 

4,986,000

 

$

2.37

2021

 

5,000,000

 

$

3.18

 

5,000,000

 

$

2.34

2022

 

5,000,000

 

$

3.18

 

5,000,000

 

$

2.34

2023

 

5,000,000

 

$

3.18

 

5,000,000

 

$

2.34

2024

 

1,875,000

 

$

3.18

 

1,870,000

 

$

1.76