Hedging Program and Derivatives (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2017

	Oil - WTI
Contract Periods	Daily Volume (Bbl)	Swap Price (per Bbl)
Fixed Swaps
2018 (January - December)	3,149	$	50.38
2019 (January - December)	2,200	$	55.27

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 Instruments 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

Fair Value of Derivative Instruments as of December 31, 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	$	—	Derivatives – current	$	10,837
Commodity price derivatives	Derivatives – long-term	—		Derivatives – long-term	2,387
		$	—		$	13,224