Subsequent Events |
12 Months Ended |
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Dec. 31, 2016 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS
Derivatives
In January and February 2017, the Company entered into fixed price swaps for 2017 for approximately 23,000 MMBtu of natural gas per day at a weighted average price of $3.44 per MMbtu and for approximately 1,000 Bbls of C3 propane per day at a weighted average price of $28.56 per Bbl. For 2018, the Company entered into fixed price swaps for approximately 87,000 MMBtu of natural gas per day at a weighted average price of $3.19 per MMBtu. The Company's fixed price swap contracts are tied to the commodity prices on NYMEX for natural gas and Mont Belvieu for propane. The Company will receive the fixed priced amount stated in the contract and pay to its counterparty the current market price as listed on NYMEX for natural gas or Mont Belvieu for propane.
In addition, the Company entered into natural gas basis swap positions, which settle on the pricing index to basis differential of NPGL MC to the NYMEX Henry Hub natural gas price. In January and February 2017, the Company entered into natural gas basis swap positions for 2017 for approximately 38,000 MMBtu of natural gas per day at a weighted average differential of $0.26 per MMBtu. For 2018, the Company entered into natural gas basis swap positions for approximately 12,000 MMBtu of natural gas per day at a weighted average differential of $0.26 per MMBtu.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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