Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2017

Table Text Blocks

Schedule of various commodity derivatives in place to offset uncertain price fluctuations that could affect the entity's future operations

	June 30, 2017
						Weighted		Final
		Low		High		Average		Expiration
Oil swaps	Exercise price	$	44.60	$	85.60	$	56.75	December 2020
	Offset exercise price	$	42.00	$	47.65	$	46.43
	Net barrels per month		20,000		181,000		76,762
Natural gas swaps	Exercise price	$	2.76	$	4.57	$	3.18	December 2020
	Offset exercise price	$	2.80	$	2.92	$	2.81
	Net mmbtu per month		300,000		1,890,000		1,093,095
Natural gas liquids swaps	Exercise price	$	18.06	$	72.52	$	28.61	December 2018
	Barrels per month		130,000		145,000		140,000
Oil collars	Puts (floors)	$	45.00	$	50.00	$	48.52	September 2019
	Calls (ceilings)	$	56.60	$	61.00	$	59.64
	Net barrels per month		65,000		73,000		67,500
Natural gas collars	Puts (floors)	$	2.55	$	2.55	$	2.55	December 2019
	Calls (ceilings)	$	3.08	$	3.41	$	3.19
	Net barrels per month		950,000		1,050,000		990,833

Schedule of commodity derivative contracts that are netted on Consolidated Balance Sheet

					Net Amounts
			Gross		of Assets /		Gross Amounts
	Gross Amounts		Amounts		Liabilities		Not
	of Recognized		Offset in the		Presented in		Offset in the
	Assets /		Balance		the Balance		Balance
(in thousands of dollars)	Liabilities		Sheet		Sheet		Sheet		Net Amount
June 30, 2017
Commodity derivative contracts
Assets	$	58,023	$	(12,286)	$	45,737	$	—	$	45,737
Liabilities		(15,445)		12,286		(3,159)		—		(3,159)
December 31, 2016
Commodity derivative contracts
Assets	$	79,649	$	(20,805)	$	58,844	$	—	$	58,844
Liabilities		(36,664)		20,805		(15,859)		—		(15,859)