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Subsequent Event (Tables)
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Schedule of Derivative Instruments
During the three months ended March 31, 2017, the following derivatives were entered into:
 
 
Aggregate volumes (Bbl)
 
Floor price ($/Bbl)
 
Ceiling price ($/Bbl)
 
Contract period
Oil:(1)
 
 

 
 
 
 
 
 
Put
 
730,000

 
$
50.00

 
$

 
January 2018 - December 2018
Collar
 
584,000

 
$
50.00

 
$
60.00

 
January 2018 - December 2018
_____________________________________________________________________________
(1)
There are $6.3 million in deferred premiums associated with these contracts.
Subsequent to March 31, 2017, the following new derivatives were entered into:
 
 
Aggregate volumes (MMBtu)
 
Floor price ($/MMBtu)
 
Ceiling price ($/MMBtu)
 
Contract period
Natural gas collars(1)
 
10,950,000

 
$
2.50

 
$
3.25

 
January 2018 - December 2018

_____________________________________________________________
(1)
There are $0.9 million in deferred premiums associated with these contracts. See Note 7.a for information regarding the Company's derivative settlement indices.