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Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2020
Derivative [Line Items]  
Schedule Of Derivative Financial Instruments Included In Consolidated Statements Of Comprehensive Earnings And Consolidated Balance Sheets

The following table presents the net gains and losses by derivative financial instrument type followed by the corresponding individual consolidated statements of comprehensive earnings caption.

 

 

 

Three Months Ended March 31,

 

 

 

 

2020

 

 

2019

 

 

Commodity derivatives:

 

 

 

 

 

 

 

 

 

Upstream revenues

 

$

720

 

 

$

(605

)

 

Marketing and midstream revenues

 

 

 

 

 

1

 

 

Net gains (losses) recognized

 

$

720

 

 

$

(604

)

 

 

The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheets caption.

 

 

March 31, 2020

 

 

December 31, 2019

 

Commodity derivative assets:

 

 

 

 

 

 

 

 

Other current assets

 

$

616

 

 

$

49

 

Other long-term assets

 

 

27

 

 

 

1

 

Total derivative assets

 

$

643

 

 

$

50

 

Commodity derivative liabilities:

 

 

 

 

 

 

 

 

Other current liabilities

 

$

 

 

$

30

 

Other long-term liabilities

 

 

5

 

 

 

1

 

Total derivative liabilities

 

$

5

 

 

$

31

 

Open Oil Derivative Positions [Member]  
Derivative [Line Items]  
Schedule Of Open Derivative Positions

 

 

 

Price Swaps

 

 

Price Collars

 

Period

 

Volume

(Bbls/d)

 

 

Weighted

Average

Price ($/Bbl)

 

 

Volume

(Bbls/d)

 

 

Weighted

Average Floor

Price ($/Bbl)

 

 

Weighted

Average

Ceiling Price

($/Bbl)

 

Q2-Q4 2020

 

 

82,207

 

 

$

36.87

 

 

 

50,449

 

 

$

51.11

 

 

$

61.14

 

Q1-Q4 2021

 

 

11,649

 

 

$

36.77

 

 

 

15,964

 

 

$

41.24

 

 

$

51.24

 

 

 

 

 

Oil Basis Swaps

 

Period

 

Index

 

Volume

(Bbls/d)

 

 

Weighted Average

Differential to WTI

($/Bbl)

 

Q2-Q4 2020

 

Argus MEH

 

 

50,916

 

 

$

0.45

 

Q2-Q4 2020

 

Midland Sweet

 

 

31,782

 

 

$

(1.23

)

Q2-Q4 2020

 

NYMEX Roll

 

 

52,676

 

 

$

0.38

 

Q1-Q4 2021

 

Midland Sweet

 

 

7,000

 

 

$

1.27

 

 

Open Natural Gas Derivative Positions [Member]  
Derivative [Line Items]  
Schedule Of Open Derivative Positions

 

 

 

Price Swaps

 

 

Price Collars

 

Period

 

Volume (MMBtu/d)

 

 

Weighted Average Price ($/MMBtu)

 

 

Volume (MMBtu/d)

 

 

Weighted Average Floor Price ($/MMBtu)

 

 

Weighted Average

Ceiling Price ($/MMBtu)

 

Q2-Q4 2020

 

 

65,396

 

 

$

2.75

 

 

 

171,418

 

 

$

1.89

 

 

$

2.37

 

Q1-Q4 2021

 

 

 

 

$

 

 

 

22,438

 

 

$

2.06

 

 

$

2.56

 

 

 

Natural Gas Basis Swaps

 

Period

 

Index

 

Volume

(MMBtu/d)

 

 

Weighted Average

Differential to

Henry Hub

($/MMBtu)

 

Q2-Q4 2020

 

Panhandle Eastern Pipe Line

 

 

30,000

 

 

$

(0.47

)

Q2-Q4 2020

 

El Paso Natural Gas

 

 

65,000

 

 

$

(0.78

)

Q2-Q4 2020

 

Houston Ship Channel

 

 

30,000

 

 

$

(0.02

)

Q1-Q4 2021

 

El Paso Natural Gas

 

 

35,000

 

 

$

(0.92

)

 

Open NGL Derivative Positions [Member]  
Derivative [Line Items]  
Schedule Of Open Derivative Positions

 

 

 

 

 

Price Swaps

 

Period

 

Product

 

Volume (Bbls/d)

 

 

Weighted Average Price ($/Bbl)

 

Q2-Q4 2020

 

Ethane

 

 

9,982

 

 

$

5.62

 

Q2-Q4 2020

 

Natural Gasoline

 

 

1,000

 

 

$

44.84

 

Q2-Q4 2020

 

Normal Butane

 

 

1,500

 

 

$

23.56

 

Q2-Q4 2020

 

Propane

 

 

4,500

 

 

$

25.18