Commodity Derivatives (Tables)

12 Months Ended

Dec. 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)
2020		12,433,000	$	2.73		3,430,000		$2.10 – $2.75
2021		6,448,000	$	2.58		1,745,000		$2.25 – $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	17,523		$53.30		13,805		$64.87		1,700		$47.50 - $57.35		4,500		$47.00 - $75.00
2020		121,147	$	55.37		207,182	$	64.62		28,200		$47.00 - $60.15		57,900	$47.00 - $75.00
2021		-	$	-		86,341	$	67.12		66,200		$47.00 - $60.15		190,000	$47.00 - $75.00
2022		-	$	-		-	$	-		-	$	-		199,900	$50.00 - $61.00

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

Schedule of fair value of the derivatives recorded

	As of December 31,
(in thousands)	2019		2018
Commodity derivative contracts:
Commodity derivative asset	$	5,915	$	3,517
Commodity derivative asset – non-current	$	1,164	$	3,505
Commodity derivative liability	$	469	$	-
Commodity derivative liability – non-current	$	87	$	-

Schedule of realized and unrealized gains and losses

	Year Ended December 31,
(in thousands)	2019			2018
Commodity derivative contracts:
Settlement gain (loss)	$	3,543		$	(3,848	)
Unrealized (loss) gain		(499	)		8,742
Total commodity derivative gain	$	3,044		$	4,894

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	$	6,917		$	(1,002	)	$	5,915
Commodity derivative asset – non-current		3,478			(2,314	)		1,164
Total derivative assets	$	10,395		$	(3,316	)	$	7,079
Commodity derivative liabilities:
Commodity derivative liability	$	(1,471	)	$	1,002		$	(469	)
Commodity derivative liability – non-current		(2,401	)		2,314			(87	)
Total derivative liabilities	$	(3,872	)	$	3,316		$	(556	)