Note 7 - Hedging Program and Derivatives (Tables)

6 Months Ended

Jun. 30, 2018

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

	Oil - WTI
Contract Periods	Daily Volume (Bbl)		Swap Price (per Bbl)
Fixed Swaps
2018 July - December		4,238	$	53.70
2019 January - December		2,800	$	55.66
2020 January - December		2,200	$	54.34

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

Fair Value Derivative Contracts as of June 30, 2018
	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	$	21,477
Commodity price derivatives	Derivatives - long-term		-	Derivatives - long-term		10,852
		$	-		$	32,329

Fair Value Derivative Contracts 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