| Schedule of various commodity derivatives in place to offset uncertain price fluctuations that could affect the entity's future operations |
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December 31, 2016
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Weighted
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Final
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Low
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High
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Average
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Expiration
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Oil swaps
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Exercise price
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$
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43.65
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$
|
86.85
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$
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64.49
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June 2019
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|
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Offset exercise price
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$
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42.00
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$
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49.00
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$
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47.14
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Net barrels per month
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—
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148,000
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87,233
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Natural gas swaps
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Exercise price
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$
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2.78
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$
|
4.67
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$
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3.65
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June 2019
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Offset exercise price
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$
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2.75
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$
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3.02
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$
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2.83
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Net mmbtu per month
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—
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1,470,000
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1,024,000
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Natural gas liquids swaps
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Exercise price
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$
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18.06
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$
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72.52
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$
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24.60
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December 2017
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Barrels per month
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110,000
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121,000
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114,833
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Oil collars
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Puts (floors)
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$
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45.00
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$
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50.00
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$
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48.52
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December 2019
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Calls (ceilings)
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$
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56.60
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$
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61.00
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$
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59.64
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Net barrels per month
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65,000
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73,000
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67,500
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Natural gas collars
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Puts (floors)
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$
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2.55
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$
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2.55
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$
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2.55
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December 2019
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Calls (ceilings)
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$
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3.08
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$
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3.41
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$
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3.19
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Net barrels per month
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950,000
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1,050,000
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990,833
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December 31, 2015
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Weighted
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Final
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Low
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High
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Average
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Expiration
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Oil swaps
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Exercise price
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$
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54.53
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$
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100.87
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$
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79.16
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June 2019
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Barrels per month
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54,000
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194,000
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97,119
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Natural gas swaps
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Exercise price
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$
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3.22
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$
|
6.45
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$
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4.25
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June 2019
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mmbtu per month
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700,000
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1,640,000
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1,042,857
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Natural gas basis swaps
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Contract differential
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$
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(0.39)
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$
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(0.11)
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$
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(0.18)
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December 2016
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mmbtu per month
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1,190,000
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1,730,000
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1,360,833
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Natural gas liquids swaps
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Exercise price
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$
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8.90
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$
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95.24
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$
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32.62
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December 2017
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Barrels per month
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2,000
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112,000
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51,792
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| Schedule of commodity derivative contracts that are netted on Consolidated Balance Sheet |
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Net Amounts
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Gross
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of Assets /
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Gross Amounts
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Gross Amounts
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Amounts
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Liabilities
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Not
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of Recognized
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Offset in the
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Presented in
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Offset in the
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Assets /
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Balance
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the Balance
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Balance
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(in thousands of dollars)
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Liabilities
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Sheet
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Sheet
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Sheet
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Net Amount
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December 31, 2016
|
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Commodity derivative contracts
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Assets
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$
|
79,649
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$
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(20,805)
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$
|
58,844
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$
|
—
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$
|
58,844
|
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Liabilities
|
|
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(36,664)
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20,805
|
|
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(15,859)
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—
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(15,859)
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December 31, 2015
|
|
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|
|
|
|
|
Commodity derivative contracts
|
|
|
|
|
|
|
|
|
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|
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|
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Assets
|
|
$
|
218,036
|
|
$
|
(527)
|
|
$
|
217,509
|
|
$
|
—
|
|
$
|
217,509
|
|
|
Liabilities
|
|
|
(538)
|
|
|
527
|
|
|
(11)
|
|
|
—
|
|
|
(11)
|
|
|