Hedging Program and Derivatives (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Contract Position

The following table sets forth the summary position of our derivative contracts as of September 30, 2017:

	Oil - WTI
Contract Periods	Daily Volume (Bbl)	Swap Price (per Bbl)
Fixed Swaps
2017	4,062	$	52.82
2018	2,649	$	48.53
2019	1,200	$	54.54

Basis Swap
2017	500	$	0.65

	Gas
Contract Period	Daily Volume (Mmbtu)	Floor (Put)		Ceiling (Call)
Collar Contracts
2017	5,000	$	3.00	$	3.90

Impact of Derivative Contracts on Balance Sheet

The following table illustrates the impact of derivative contracts on the Company’s balance sheet:

Fair Value of Derivative Contracts as of September 30, 2017
	Asset Derivatives			Liability Derivatives
Derivatives not designated as hedging instruments	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity price derivatives	Derivatives – current	$	1,056	Derivatives – current	$	2,621
Commodity price derivatives	Derivatives – long-term	1,561		Derivatives – long-term	957
		$	2,617		$	3,578

Fair Value of Derivative Contracts as of December 31, 2016
	Asset Derivatives			Liability Derivatives
Derivatives not designated as hedging instruments	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity price derivatives	Derivatives – current	$	54	Derivatives – current	$	2,382
Commodity price derivatives	Derivatives – long-term	—		Derivatives – long-term	6,630
		$	54		$	9,012