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Derivatives (Tables)
 6 Months Ended
Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Components of Gain (Loss) on Derivative Activity
The components of gain (loss) on derivative activity in the consolidated statements of operations related to commodity swaps are (in millions):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Change in fair value of derivatives
$
(10.5
)
 
$
1.8

 
$
(14.0
)
 
$
7.1

Realized loss on derivatives
(4.7
)
 
(0.2
)
 
(0.7
)
 
(2.7
)
Gain (loss) on derivative activity
$
(15.2
)
 
$
1.6

 
$
(14.7
)
 
$
4.4
Fair Value of Derivative Assets and Liabilities Related to Commodity Swaps
The fair value of derivative assets and liabilities related to commodity swaps are as follows (in millions):
 
June 30, 2018
 
December 31, 2017
Fair value of derivative assets—current
$
4.0

 
$
6.8

Fair value of derivative liabilities—current
(10.7
)
 
(8.4
)
Fair value of derivative liabilities—long-term
(8.9
)
 
—

Net fair value of derivatives
$
(15.6
)
 
$
(1.6
)
Notional Amount and Fair Value of Derivative Instruments
Set forth below are the summarized notional volumes and fair values of all instruments held for price risk management purposes and related physical offsets at June 30, 2018 (in millions). The remaining term of the contracts extend no later than October 2019.
 
 
 
 
June 30, 2018
Commodity
 
Instruments
 
Unit
 
Volume
 
Fair Value
NGL (short contracts)
 
Swaps
 
Gallons
 
(46.9
)
 
$
(7.3
)
NGL (long contracts)
 
Swaps
 
Gallons
 
17.9

 
0.5

Natural Gas (short contracts)
 
Swaps
 
MMBtu
 
(9.7
)
 
1.4

Natural Gas (long contracts)
 
Swaps
 
MMBtu
 
7.5

 
(2.4
)
Crude and condensate (short contracts)
 
Swaps
 
MMbbls
 
(8.8
)
 
(12.1
)
Crude and condensate (long contracts)
 
Swaps
 
MMbbls
 
1.1

 
4.3

Total fair value of derivatives
 
 
 
 
 
 
 
$
(15.6
)