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Derivative Instruments (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Outstanding Basis Swaps |
The following table represents Resolute’s basis swaps as of
December 31, 2013:
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Gas (Rocky Mountain (CIG) |
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|
Year
|
|
MMBtu per Day |
|
|
Weighted Average
Price
Differential per
MMBtu |
|
|
2014
|
|
|
1,000 |
|
|
$ |
0.590 |
|
|
| Summary of Subsequent Additional Commodity Derivative Contracts |
Subsequent to December 31, 2013, the Company entered into
additional commodity derivative contracts as summarized below:
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Oil (NYMEX WTI) |
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|
Swap
|
|
Swap
Bbl per Day |
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|
Weighted Average
Swap Price Per Bbl |
|
|
January 1, 2015 – June 30, 2015
|
|
|
1,000 |
|
|
$ |
90.31 |
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2015
|
|
|
3,000 |
|
|
$ |
89.05 |
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|
|
|
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|
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|
|
|
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| |
|
Oil (NYMEX WTI) |
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|
Two-Way Collar
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|
Bbl per Day |
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|
Weighted Average
Floor Price
per Bbl |
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|
Weighted Average
Ceiling Price
Per Bbl |
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2015
|
|
|
1,000 |
|
|
$ |
84.17 |
|
|
$ |
92.10 |
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| |
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Gas (NYMEX Henry Hub) |
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|
Three-Way Collar
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|
MMBtu Per Day |
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|
Weighted Average
Short Put Price
Per MMBtu |
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|
Weighted Average
Floor Price
Per MMBtu |
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|
Weighted Average
Ceiling Price
Per MMBtu |
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|
January 1, 2015 – March 31, 2015
|
|
|
5,000 |
|
|
$ |
3.75 |
|
|
$ |
4.50 |
|
|
$ |
5.55 |
|
|
| Amount of Commodity Derivative Instrument Gains (Losses) |
The table below summarizes the location and amount of commodity
derivative instrument gains and losses reported in the consolidated
statements of income (in thousands):
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Year Ended
December 31, |
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2013 |
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2012 |
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|
2011 |
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Other income (expense):
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Commodity derivative settlements
|
|
$ |
(35,812 |
) |
|
$ |
(22,920 |
) |
|
$ |
(20,799 |
) |
|
Mark-to-market gain
|
|
|
20,476 |
|
|
|
28,096 |
|
|
|
15,478 |
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|
|
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Commodity derivative instruments gain (loss)
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|
$ |
(15,336 |
) |
|
$ |
5,176 |
|
|
$ |
(5,321 |
) |
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|
Two Way
|
|
| Commodity Collar Contracts |
The following table represents Resolute’s two-way commodity
collar contracts as of December 31, 2013:
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| |
|
Oil (NYMEX WTI) |
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|
Year
|
|
Bbl per Day |
|
|
Weighted Average
Floor Price Per Bbl |
|
|
Weighted Average
Ceiling Price Per Bbl |
|
|
2014
|
|
|
1,500 |
|
|
$ |
65.00 |
|
|
$ |
110.00 |
|
|
|
Three Way
|
|
| Commodity Collar Contracts |
The following table represents Resolute’s three-way commodity
collar contracts as of December 31, 2013:
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| |
|
Oil (NYMEX WTI) |
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|
Year
|
|
Bbl Per Day |
|
|
Weighted Average
Short Put Price Per Bbl |
|
|
Weighted Average
Floor Price Per Bbl |
|
|
Weighted Average
Ceiling Price Per Bbl |
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|
2014
|
|
|
2,000 |
|
|
$ |
70.00 |
|
|
$ |
85.00 |
|
|
$ |
100.83 |
|
|
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Put and Call Options
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|
| Commodity Option Contracts |
The following table represents Resolute’s commodity call and
put option contracts as of December 31, 2013:
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|
Oil (NYMEX WTI) |
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Year
|
|
Bought Call
Bbl per Day |
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|
Weighted Average
Bought Call
Price Per Bbl |
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|
Bought Put
Bbl per Day |
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|
Weighted Average
Bought Put
Price Per Bbl |
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|
Sold Put
Bbl Per Day |
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|
Weighted Average
Sold Put
Price Per Bbl |
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|
2014
|
|
|
2,500 |
|
|
$ |
108.66 |
|
|
|
1,200 |
|
|
$ |
85.00 |
|
|
|
3,700 |
|
|
$ |
70.68 |
|
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|
Oil and gas commodity contracts
|
|
| Outstanding Basis Swaps |
The following table represents Resolute’s commodity swap
contracts as of December 31, 2013:
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| |
|
Oil (NYMEX WTI) |
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|
Gas (NYMEX Henry Hub) |
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|
Year
|
|
Bbl per Day |
|
|
Weighted Average
Swap Price Per Bbl |
|
|
MMBtu per Day |
|
|
Weighted Average
Swap Price Per MMBtu |
|
|
2014
|
|
|
5,500 |
|
|
$ |
92.94 |
|
|
|
5,000 |
|
|
$ |
4.165 |
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