Derivative Instruments (Tables) - Centennial Resource Production, LLC (Centennial OpCo)

9 Months Ended

Sep. 30, 2016

Derivative Financial Instruments

Schedule of open crude oil derivative positions

	2016		2017
Crude Oil Swaps:
Notional volume (Bbl)		193,200		675,250
Weighted average floor price ($/Bbl)	$	55.21	$	50.41
Crude Oil Basis Swaps:
Notional volume (Bbl)		320,300		127,750
Weighted average floor price ($/Bbl)	$	(0.45)	$	(0.20)
Natural Gas Swaps:
Notional volume (MMBtu)		—		1,460,000
Weighted average floor price ($/MMBtu)	$	—	$	2.94

Summary of gross fair value of derivative assets and liabilities and effect of netting on consolidated and combined balance sheets

	September 30, 2016
						Net Amounts
						Presented on the
						Condensed
	Balance Sheet	Gross		Netting		Consolidated
	Classification	Amounts		Adjustments		Balance Sheets
	(in thousands)
Assets
Derivative instruments	Current assets	$	2,642	$	(1,024)	$	1,618
Derivative instruments	Noncurrent assets		277		(32)		245
Total assets		$	2,919	$	(1,056)	$	1,863
Liabilities
Derivative instruments	Current liabilities	$	1,011	$	(11)	$	1,000
Derivative instruments	Noncurrent Liabilities		659		(102)		557
Total liabilities		$	1,670	$	(113)	$	1,557

	December 31, 2015
						Net Amounts
						Presented on the
						Condensed
	Balance Sheet	Gross		Netting		Consolidated
	Classification	Amounts		Adjustments		Balance Sheets
	(in thousands)
Assets
Derivative instruments	Current assets	$	19,469	$	(426)	$	19,043
Derivative instruments	Noncurrent assets		2,071		(1)		2,070
Total assets		$	21,540	$	(427)	$	21,113

Schedule of gains and losses for derivative instruments not designated as hedges

	For the Three Months				For the Nine Months
	Ended September 30,				Ended September 30,
	(in thousands)
	2016		2015		2016		2015
Loss (gain) on derivative instruments	$	(1,741)	$	(13,344)	$	4,184	$	(12,320)