Commodity Derivatives (Tables)

6 Months Ended

Jun. 30, 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		5,925,000	$	2.82		1,129,500	$	2.60 – $3.03
2020		6,433,000	$	2.81		4,128,0000	$	2.40 – $2.75
2021		960,000	$	2.79		2,809,000	$	2.40 – $2.75

	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		125,178	$	53.39		81,493	$	67.01		1,200	$	47.50 - $56.60		21,800	$	47.00 - $75.00
2020		121,147	$	55.37		151,982	$	66.03		23,700	$	47.00 - $60.15		37,400	$	47.00 - $75.00
2021		-	$	-		86,341	$	67.12		33,000	$	47.00 - $60.15		98,000	$	47.00 - $75.00

*	Includes 100% of Carbon California's outstanding derivative hedges at June 30, 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)	June 30, 2019		December 31, 2018
Commodity derivative contracts:
Commodity derivative asset	$	5,146	$	3,517
Commodity derivative asset – non-current	$	1,582	$	3,505
Commodity derivative liability	$	102	$	-

Schedule of realized and unrealized gains and losses

	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands)	2019		2018			2019			2018
Commodity derivative contracts:
Settlement gains (losses)	$	225	$	(674	)	$	(231	)	$	(1,060	)
Unrealized gains (losses)		8,455		(5,348	)		(396	)		(5,587	)
Total settlement and unrealized gains (losses), net	$	8,680	$	(6,022	)	$	(627	)	$	(6,647	)

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	$	6,176	$	(1,030	)	$	5,146
Commodity derivative asset – non-current		2,792		(1,210	)		1,582
Total derivative assets	$	8,968	$	(2,240	)	$	6,728
Commodity derivative liabilities:
Commodity derivative liability	$	1,132	$	(1,030	)	$	(102	)
Commodity derivative liability – non-current		1,210		(1,210	)		-
Total derivative liabilities	$	2,342	$	(2,240	)	$	(102	)