Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2018:

		Average	Weighted
		Volume Per	Average		Fair Value
	Instrument	Day	Price		Asset		Liability
Crude Oil:		(barrels)	($/barrel)
Third quarter 2018	Swaps-WTI	10,455	$	57.05	$	—	$	14,270
Third quarter 2018	Swaps-LLS	6,000	$	65.27	—		5,605
Fourth quarter 2018	Swaps-WTI	10,455	$	57.05	—		11,332
Fourth quarter 2018	Swaps-LLS	6,000	$	65.27	—		4,418
First quarter 2019	Swaps-WTI	6,446	$	54.46	—		6,999
First quarter 2019	Swaps-LLS	5,000	$	59.17	—		5,310
Second quarter 2019	Swaps-WTI	6,421	$	54.48	—		6,115
Second quarter 2019	Swaps-LLS	5,000	$	59.17	—		4,568
Third quarter 2019	Swaps-WTI	6,397	$	54.50	—		5,337
Third quarter 2019	Swaps-LLS	5,000	$	59.17	—		3,876
Fourth quarter 2019	Swaps-WTI	6,398	$	54.50	—		4,635
Fourth quarter 2019	Swaps-LLS	5,000	$	59.17	—		3,221
First quarter 2020	Swaps-WTI	6,000	$	54.09	—		3,846
Second quarter 2020	Swaps-WTI	6,000	$	54.09	—		3,302
Third quarter 2020	Swaps-WTI	6,000	$	54.09	—		2,844
Fourth quarter 2020	Swaps-WTI	6,000	$	54.09	—		2,451
Settlements to be paid in subsequent period							4,607

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 June 30,					Six Months Ended June 30,
	2018			2017		2018			2017
Derivative gains (losses)	$	(52,241	)	$	11,061	$	(71,036	)	$	28,077

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:

		June 30, 2018				December 31, 2017
		Derivative		Derivative		Derivative		Derivative
Type	Balance Sheet Location	Assets		Liabilities		Assets		Liabilities
Commodity contracts	Derivative assets/liabilities – current	$	33	$	63,257	$	—	$	27,777
Commodity contracts	Derivative assets/liabilities – noncurrent	54		29,566		—		13,900
		$	87	$	92,823	$	—	$	41,677