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Subsequent Events
 6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
Subsequent Events
14. Subsequent Events
Divestiture of Non-Operated Delaware Basin Assets
In July 2018, the Company closed on the divestiture of certain non-operated assets in the Delaware Basin for estimated aggregate net proceeds of $31.4 million. The proceeds from this divestiture will be recognized as a reduction of proved oil and gas properties.
Hedging
In August 2018, the Company entered into the following crude oil derivative positions at the weighted average contract prices summarized below:
Period
 
Type of Contract
 
Index
 
Volumes
(Bbls/d)
 
Fixed Price
($/Bbl)
2019
 
 
 
 
 
 
 
 
Q1
 
Basis Swaps
 
Midland WTI-Cushing WTI (1)
 
2,500

 

($6.94
)
Q2
 
Basis Swaps
 
Midland WTI-Cushing WTI (1)
 
3,000

 
(6.94
)
Q3
 
Basis Swaps
 
Midland WTI-Cushing WTI (1)
 
3,500

 
(6.94
)
Q4
 
Basis Swaps
 
Midland WTI-Cushing WTI (1)
 
5,000

 
(4.00
)
2020
 
 
 
 
 
 
 
 
Q1
 
Basis Swaps
 
Midland WTI-Cushing WTI (1)
 
1,000

 
(1.90
)
 
(1)
The index price paid under these basis swaps is Midland WTI and the index price received is Cushing WTI less the fixed price differential.