Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Derivative Financial Instruments (Tables)

v3.20.1
Note 6 - Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2020
Notes Tables  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
Crude Oil:
  
Open Swap Contracts, Priced off WTI (NYMEX)
 Period
 
 Notional Quantity (Bbls/day) (1)
 
 Notional Quantity
(Bbls) (1)
 
 Weighted Average Strike Price
Apr 2020 - May 2020
 
10,000
 
610,000
 
$ 60.92
Crude Oil:
  
Open Call Contracts - Bought, Priced off WTI (NYMEX)
Period
 
 Notional Quantity (Bbls/day) (1)
 
 Notional Quantity
(Bbls) (1)
 
 Strike Price
Apr 2020 - May 2020
 
10,000
 
610,000
 
$ 61.00
             
June 2020 - Dec. 2020
 
10,000
 
2,140,000
 
$ 67.50
Crude Oil:
  
Open Collar Contracts - Priced off WTI (NYMEX)
Period
 
 Notional Quantity (Bbls/day) (1)
 
 Notional Quantity
(Bbls) (1)
 
Put Option
Weighted Strike Price
(Bought)
 
Call Option
Weighted Strike Price
(Sold)
June 2020 - Dec. 2020
 
10,000
 
2,140,000
 
$ 45.00
 
$ 63.51
Natural Gas: Open Collar Contracts, Priced off Henry Hub (NYMEX)
Period
 
Notional Quantity (MMBtu/day) (2)
 
Notional Quantity (MMBtu) (2)
 
Put Option Strike Price (Bought)
 
Call Option Strike Price (Sold)
May 2020 - Dec. 2022
 
40,000
 
39,000,000
 
$ 1.83
 
$ 3.00
Natural Gas: Open Call Contracts, Bought, Priced off Henry Hub (NYMEX)
Period
 
Notional Quantity (MMBtu/day) (2)
 
Notional Quantity (MMBtu) (2)
 
Strike Price
May 2020 - Dec. 2022
 
40,000
 
39,000,000
 
$ 3.00
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]
 
March 31,
 
December 31,
 
2020
 
2019
Prepaid expenses and other assets
$ 64,039
 
$ 7,266
Other assets (long-term)
2,847
 
2,653
Accrued liabilities
 
1,785
Other liabilities (long-term)
1,245
 
 
Three Months Ended March 31,
 
2020
 
2019
Derivative (gain) loss
$ (61,912)
 
$ 48,886
Schedule of Cash Receipts and Payments on Commodity Derivative Contract Settlements [Table Text Block]
   
Three Months Ended March 31,
 
   
2020
   
2019
 
Cash receipts on derivative settlements, net
  $
4,404
    $
11,948