Commodity Derivatives (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of swap derivative agreements

	Natural Gas Swaps				Natural Gas Collars
			Weighted Average				Weighted Average Price
Year	MMBtu		Price (a)		MMBtu		Range (a)
2019		11,762,000,	$	2.82		374,000	$	2.60 – $3.03
2020		12,433,000	$	2.73		1,018,000	$	2.50 – $2.70
2021		6,448,000	$	2.58		-	$	-

	Oil Swaps								Oil Collars
Year	WTI Bbl		Weighted Average  Price (b)		Brent Bbl		Weighted Average Price (c)		WTI Bbl		Weighted  Average Price (b)		Brent Bbl		Weighted  Average Price (c)
2019		180,775	$	53.46		121,079	$	66.93		-		-		29,800	$	47.00 - $75.00
2020		121,147	$	55.37		151,982	$	66.03		18,000	$	47.00 - $60.15		37,400	$	47.00 - $75.00
2021		-	$	-		86,341	$	67.12		30,000	$	47.00 - $60.15		98,000	$	47.00 - $75.00

*	Includes 100% of Carbon California’s outstanding derivative hedges at March 31, 2019, and not our proportionate share.
(a)	NYMEX Henry Hub Natural Gas futures contract for the respective period.
(b)	NYMEX Light Sweet Crude West Texas Intermediate futures contract for the respective period.
(c)	Brent future contracts for the respective period.

Schedule of fair value of the derivatives recorded

(in thousands)	March 31, 2019		December 31, 2018
Commodity derivative contracts:
Commodity derivative asset	$	-	$	3,517
Commodity derivative asset – non-current	$	147	$	3,505
Commodity derivative liability	$	1,657	$	-
Commodity derivative liability – non-current	$	318	$	-

Schedule of realized and unrealized gains and losses

	Three Months Ended March 31,
(in thousands)	2019			2018
Commodity derivative contracts:
Settlement losses	$	(456	)	$	(377	)
Unrealized losses		(8,850	)		(249	)
Total settlement and unrealized losses, net	$	(9,306	)	$	(626	)

Schedule of fair value amounts of all derivative instruments assets and liabilities

						Net
	Gross					Recognized
	Recognized		Gross			Fair Value
	Assets/		Amounts			Assets/
Balance Sheet Classification (in thousands)	Liabilities		Offset			Liabilities
Commodity derivative assets:
Commodity derivative asset	$	1,063	$	(1,063	)	$	-
Commodity derivative asset – non-current		2,049		(1,902	)		147
Total derivative assets	$	3,112	$	(2,965	)	$	147
Commodity derivative liabilities:
Commodity derivative liability	$	2,720	$	(1,063	)	$	(1,657	)
Commodity derivative liability – non-current		2,220		(1,902	)		(318	)
Total derivative liabilities	$	4,940	$	(2,965	)	$	(1,975	)