Derivative Instruments (Tables)

9 Months Ended

Sep. 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 September 30, 2018:

		Average	Weighted
		Volume Per	Average		Fair Value
	Instrument	Day	Price		Asset		Liability
Crude Oil:		(barrels)	($/barrel)
Fourth quarter 2018	Swaps-WTI	10,455	$	57.05	$	—	$	15,125
Fourth quarter 2018	Swaps-LLS	6,000	$	65.27	—		8,128
First quarter 2019	Swaps-WTI	6,446	$	54.46	—		9,948
First quarter 2019	Swaps-LLS	5,000	$	59.17	—		8,386
Second quarter 2019	Swaps-WTI	6,421	$	54.48	—		9,413
Second quarter 2019	Swaps-LLS	5,000	$	59.17	—		7,717
Third quarter 2019	Swaps-WTI	6,397	$	54.50	—		8,722
Third quarter 2019	Swaps-LLS	5,000	$	59.17	—		6,874
Fourth quarter 2019	Swaps-WTI	6,398	$	54.50	—		7,925
Fourth quarter 2019	Swaps-LLS	5,000	$	59.17	—		6,057
First quarter 2020	Swaps-WTI	6,000	$	54.09	—		6,786
Second quarter 2020	Swaps-WTI	6,000	$	54.09	—		6,142
Third quarter 2020	Swaps-WTI	6,000	$	54.09	—		5,593
Fourth quarter 2020	Swaps-WTI	6,000	$	54.09	—		5,068
Settlements to be paid in subsequent period							6,327

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 September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Derivative (losses) gains	$	(40,689	)	$	(12,275	)	$	(111,725	)	$	15,802

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:

		September 30, 2018			December 31, 2017
			Derivative			Derivative
Type	Balance Sheet Location		Liabilities			Liabilities
Commodity contracts	Derivative assets/liabilities – current		$	80,641		$	27,777
Commodity contracts	Derivative assets/liabilities – noncurrent		37,570			13,900
			$	118,211		$	41,677