Derivatives (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives outstanding

At June 30, 2019, these derivatives were outstanding:

Term	Commodity	Contracted Volume	Weighted Average  Fixed Price	Contracted Market
Jul'19 – Oct'19	Natural gas – swap	60,000 MMBtu/day	$2.900	IF – NYMEX (HH)
Nov'19 – Dec'19	Natural gas – swap	40,000 MMBtu/day	$2.900	IF – NYMEX (HH)
Jul'19 – Dec'19	Natural gas – basis swap	20,000 MMBtu/day	$(0.659)	PEPL
Jul'19 – Dec'19	Natural gas – basis swap	10,000 MMBtu/day	$(0.625)	NGL MIDCON
Jul'19 – Dec'19	Natural gas – basis swap	30,000 MMBtu/day	$(0.265)	NGPL TEXOK
Jan'20 – Dec'20	Natural gas – basis swap	30,000 MMBtu/day	$(0.275)	NGPL TEXOK
Jul'19 – Dec'19	Natural gas – collar	20,000 MMBtu/day	$2.63 - $3.03	IF – NYMEX (HH)
Jul'19 – Dec'19	Crude oil – three-way collar	4,000 Bbl/day	$61.25 - $51.25 - $72.93	WTI – NYMEX

Fair Value of Derivative Instruments and Locations in Balance Sheets

The following tables present the fair values and locations of the derivative transactions recorded in our Unaudited Condensed Consolidated Balance Sheets:

		Derivative Assets
		Fair Value
	Balance Sheet Location	June 30, 2019		December 31, 2018
		(In thousands)
Commodity derivatives:
Current	Current derivative asset	$	8,513	$	12,870
Long-term	Non-current derivative asset	—		—
Total derivative assets		$	8,513	$	12,870

		Derivative Liabilities
		Fair Value
	Balance Sheet Location	June 30, 2019		December 31, 2018
		(In thousands)
Commodity derivatives:
Current	Current derivative liability	$	—	$	—
Long-term	Non-current derivative liability	256		293
Total derivative liabilities		$	256	$	293

Effect of Derivative Instruments Recognized in Income Statements, Derivative Instruments

Following is the effect of derivative instruments on the Unaudited Condensed Consolidated Statements of Operations at June 30:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
	(In thousands)
Gain (loss) on derivatives:
Gain (loss) on derivatives, included are amounts settled during the period of $2,658, ($6,855), $5,314 and ($8,928), respectively	$	7,927	$	(14,461)	$	995	$	(21,223)
	$	7,927	$	(14,461)	$	995	$	(21,223)