Subsequent Events (Tables)

6 Months Ended

Jun. 30, 2018

Crude Oil

Derivative [Line Items]

Schedule of Derivative Instruments

The following table sets forth a summary of the Company’s outstanding crude oil derivative positions as of June 30, 2018 at weighted average contract prices:

Period	Type of Contract	Index	Volumes (Bbls/d)	Fixed Price ($/Bbl)			Sub-Floor Price ($/Bbl)		Floor Price ($/Bbl)		Ceiling Price ($/Bbl)
2018
Q3-Q4	Price Swaps	NYMEX WTI	6,000		$49.55			$—		$—		$—
Q3-Q4	Three-Way Collars	NYMEX WTI	24,000	—			39.38		49.06		60.14
Q3-Q4	Basis Swaps	LLS-Cushing WTI (1)	18,000	5.11			—		—		—
Q3-Q4	Basis Swaps	Midland WTI-Cushing WTI (2)	6,000	(0.10		)	—		—		—
Q3-Q4	Net Sold Call Options	NYMEX WTI	3,388	—			—		—		71.33
2019
Q1-Q4	Three-Way Collars	NYMEX WTI	15,000	—			41.00		49.72		62.48
Q1-Q2	Basis Swaps	Midland WTI-Cushing WTI (2)	3,000	(3.83		)	—		—		—
Q3	Basis Swaps	Midland WTI-Cushing WTI (2)	3,500	(4.18		)	—		—		—
Q4	Basis Swaps	Midland WTI-Cushing WTI (2)	6,000	(3.71		)	—		—		—
Q1-Q4	Net Sold Call Options	NYMEX WTI	3,875	—			—		—		73.66
2020
Q1-Q4	Net Sold Call Options	NYMEX WTI	4,575	—			—		—		75.98

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

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

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.