Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity Derivative Positions

The following table sets forth our commodity derivative positions, presented on a net basis by period of maturity, as of March 31, 2018:

		Average	Weighted
		Volume Per	Average		Fair Value
	Instrument	Day	Price		Asset		Liability
Crude Oil:		(barrels)	($/barrel)
Second quarter 2018	Swaps-WTI	6,484	$	51.09	$	—	$	7,888
Second quarter 2018	Swaps-LLS	2,500	$	55.18	—		2,735
Third quarter 2018	Swaps-WTI	6,455	$	51.10	—		6,998
Third quarter 2018	Swaps-LLS	2,500	$	55.18	—		2,404
Fourth quarter 2018	Swaps-WTI	6,455	$	51.10	—		5,960
Fourth quarter 2018	Swaps-LLS	2,500	$	55.18	—		2,003
First quarter 2019	Swaps-WTI	4,946	$	52.03	—		3,372
First quarter 2019	Swaps-LLS	2,500	$	51.30	—		2,422
Second quarter 2019	Swaps-WTI	4,921	$	52.04	—		2,861
Second quarter 2019	Swaps-LLS	2,500	$	51.30	—		2,144
Third quarter 2019	Swaps-WTI	4,897	$	52.05	—		2,404
Third quarter 2019	Swaps-LLS	2,500	$	51.30	—		1,897
Fourth quarter 2019	Swaps-WTI	4,898	$	52.05	—		2,011
Fourth quarter 2019	Swaps-LLS	2,500	$	51.30	—		1,660
First quarter 2020	Swaps-WTI	4,000	$	52.67	—		1,123
Second quarter 2020	Swaps-WTI	4,000	$	52.67	—		866
Third quarter 2020	Swaps-WTI	4,000	$	52.67	—		650
Fourth quarter 2020	Swaps-WTI	4,000	$	52.67	—		461
Settlements to be paid in subsequent period							3,037

Impact of Derivative Activities on Condensed Consolidated Statements of Income

The impact of our derivative activities on income is included in “Derivatives” in our Condensed Consolidated Statements of Operations. The following table summarizes the effects of our derivative activities for the periods presented:

	Three Months Ended March 31,
	2018			2017
Derivative gains (losses)	$	(18,795	)	$	17,016

Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets

The following table summarizes the fair values of our derivative instruments presented on a gross basis, as well as the locations of these instruments on our Condensed Consolidated Balance Sheets as of the dates presented:

		March 31, 2018				December 31, 2017
		Derivative		Derivative		Derivative		Derivative
Type	Balance Sheet Location	Assets		Liabilities		Assets		Liabilities
Commodity contracts	Derivative assets/liabilities – current	$	—	$	36,820	$	—	$	27,777
Commodity contracts	Derivative assets/liabilities – noncurrent	32		16,108		—		13,900
		$	32	$	52,928	$	—	$	41,677