Derivative Financial Instruments (Tables) - Centennial Resource Production, LLC (Centennial OpCo) and Celero Energy Company, L.P.
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12 Months Ended |
Dec. 31, 2015 |
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| Derivative Financial Instruments |
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| Schedule of open crude oil derivative positions |
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2016
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2017
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Crude Oil Swaps:
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Notional volume (Bbl)
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729,000
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127,750
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Weighted average floor price ($/Bbl)
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$
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67.82
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$
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61.36
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Crude Oil Basis Swaps:
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Notional volume (Bbl)
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622,200
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91,250
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Weighted average floor price ($/Bbl)
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$
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(0.71)
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$
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(0.20)
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| Summary of gross fair value of derivative assets and liabilities and effect of netting on consolidated and combined balance sheets |
The following table below summarizes the gross fair value of derivative assets and liabilities and the effect of netting on the consolidated and combined balance sheets (in thousands):
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Net Amounts
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Balance Sheet
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Gross
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Netting
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Presented on the
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Classification
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Amounts
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Adjustments
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Balance Sheet
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December 31, 2015:
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Assets:
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Derivative instruments
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Current assets
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$
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19,469
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$
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(426)
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$
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19,043
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Derivative instruments
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Noncurrent assets
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2,071
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(1)
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2,070
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Total assets
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$
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21,540
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$
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(427)
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$
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21,113
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December 31, 2014:
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Assets:
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Derivative instruments
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Current assets
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$
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30,444
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$
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(22)
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$
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30,422
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Derivative instruments
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Noncurrent assets
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6,365
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—
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6,365
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Total assets
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$
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36,809
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$
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(22)
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$
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36,787
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| Schedule of gains and losses for derivative instruments not designated as hedges |
The following table presents gains and losses for derivative instruments not designated as hedges for accounting purposes for the periods presented (in thousands):
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For the Year Ended December 31,
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2015
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2014
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2013
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Gain (loss) on derivative instruments
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$
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20,756
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$
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41,943
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$
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(4,410)
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