DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of commodity derivative contracts

As of September 30, 2017, the Company had entered into the following commodity derivative contracts:

	Crude Oil (NYMEX WTI)		Natural Gas (NYMEX Henry Hub)
	Bbls/day	Weighted Avg. Price per Bbl	MMBTU/day	Weighted Avg. Price per MMBTU
4Q17
Cashless Collar	2,000	$41.50/$51.00	2,600	$3.00/$3.30
Swap	2,000	$51.86	—	—
1Q18
Cashless Collar	2,000	$42.00/$52.50	5,600	$2.75/$3.43
Swap	2,000	$51.61	6,000	$3.36
2Q18
Cashless Collar	2,000	$42.00/$52.50	5,600	$2.75/$3.43
Swap	2,000	$51.61	—	—
3Q18
Cashless Collar	2,000	$43.00/$53.50	5,600	$2.75/$3.43
Swap	1,000	$51.15	—	—
4Q18
Cashless Collar	2,000	$43.00/$53.50	5,600	$2.75/$3.43
Swap	1,000	$51.15	—	—
1Q19
Cashless Collar	2,000	$43.00/$54.53	2,600	$2.75/$3.40
Q219
Cashless Collar	1,330	$44.01/$54.79	857	$2.75/$3.40

Schedule of derivatives and balance sheet location

The following table contains a summary of all the Company’s derivative positions reported on the accompanying balance sheets as of September 30, 2017 and December 31, 2016:

		As of September 30, 2017			As of December 31, 2016
	Balance Sheet Location	Fair Value			Fair Value
		(in thousands)			(in thousands)
Derivative Assets:
Commodity contracts	Current assets	$	48		$	—
Commodity contracts	Noncurrent assets	6			—
Derivative Liabilities:
Commodity contracts	Current liabilities	(2,044		)	—
Commodity contracts	Long-term liabilities	(772		)	—
Total derivative liabilities, net		$	(2,762	)	$	—

Summary of the components of the derivative gain (loss) presented on the accompanying statements of operations

The following tables summarizes the components of the derivative gain (loss) presented on the accompanying statements of operations for the periods below (in thousands):

	Successor			Successor			Predecessor		Predecessor			Predecessor
	Three Months Ended September 30, 2017			April 29, 2017 through September 30, 2017			January 1, 2017 through April 28, 2017		Three Months Ended September 30, 2016			Nine Months Ended September 30, 2016
Derivative cash settlement gain:
Oil contracts	$	—		$	—		$	—	$	4,348		$	15,749
Gas contracts	—			—			—		—			—
Total derivative cash settlement gain(1)	$	—		$	—		$	—	$	4,348		$	15,749
Change in fair value loss	$	(2,762	)	$	(2,762	)	$	—	$	(2,142	)	$	(27,473	)
Total derivative gain (loss)(1)	$	(2,762	)	$	(2,762	)	$	—	$	2,206		$	(11,724	)

_______________________________

(1) Total derivative gain (loss) and total derivative cash settlement gain for the Current Successor Period, Current Predecessor Period and Prior Predecessor Period is reported in the derivative loss line item and derivative cash settlements line item on the accompanying statements of cash flows within cash flows from operating activities.