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Other Comprehensive Income
 6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Other Comprehensive Income
Other Comprehensive Income

The Company designates its commodity derivatives as cash flow hedges for accounting purposes upon entering into the contracts and accordingly, changes in the fair value of the derivative are recognized in stockholders' equity through other comprehensive income, net of related taxes, to the extent the hedge was considered effective. The Company had no outstanding derivative contracts at December 31, 2018, during the Predecessor period January 1, 2019 through February 8, 2019 or the Successor period of February 9, 2019 through June 30, 2019.

The following table represents the changes in accumulated other comprehensive income (loss), net of tax, for the three month period ended June 30, 2018 (in thousands):
 
Gains and Losses on Cash Flow Hedges
 
Change in Valuation Allowance
 
Total
Balance as of March 31, 2018
$
(546
)
 
$
(172
)
 
$
(718
)
Other comprehensive income before reclassifications:
 
 
 
 
 
 Change in fair value of derivatives
(445
)
 
—

 
(445
)
 Income tax effect
107

 
(107
)
 
—

 Net of tax
(338
)
 
(107
)
 
(445
)
Amounts reclassified from accumulated other comprehensive income:
 
 
 
 
 
 Oil and gas sales
361

 
—

 
361

 Income tax effect
(87
)
 
87

 
—

 Net of tax
274

 
87

 
361

Net other comprehensive loss
(64
)
 
(20
)
 
(84
)
Balance as of June 30, 2018
$
(610
)
 
$
(192
)
 
$
(802
)

The following table represents the changes in accumulated other comprehensive income (loss), net of tax, for the six month period ended June 30, 2018 (in thousands):
 
Gains and Losses on Cash Flow Hedges
 
Change in Valuation Allowance
 
Total
Balance as of December 31, 2017
$
278

 
$
—

 
$
278

Other comprehensive income before reclassifications:
 
 
 
 
 
 Change in fair value of derivatives
(990
)
 
—

 
(990
)
 Income tax effect
238

 
(238
)
 
—

 Net of tax
(752
)
 
(238
)
 
(990
)
Amounts reclassified from accumulated other comprehensive income:
 
 
 
 
 
 Oil and gas sales
(179
)
 
—

 
(179
)
 Income tax effect
43

 
46

 
89

 Net of tax
(136
)
 
46

 
(90
)
Net other comprehensive loss
(888
)
 
(192
)
 
(1,080
)
Balance as of June 30, 2018
$
(610
)
 
$
(192
)
 
$
(802
)