Commodity Derivatives UpdateWe enter into commodity derivatives positions to reduce the risk of commodity price fluctuations. For 2013, we have commodity derivatives positions covering 2,300 Bbls/d of oil for February 1, 2013, through December 31, 2013. The table below is a summary of our current derivatives positions.
|Commodity and Time Period||Contract Type||Volume Transacted||Contract Price|
|Crude Oil – 2013||Collar||650 Bbls/d||$90.00/Bbl – $105.80/Bbl|
|Crude Oil – 2013||Collar||450 Bbls/d||$90.00/Bbl – $101.45/Bbl|
|Crude Oil – February 2013 – December 2013||Collar||1,200 Bbls/d||$90.35/Bbl – $100.35/Bbl|
|Crude Oil – 2014||Collar||550 Bbls/d||$90.00/Bbl – $105.50/Bbl|
|Natural Gas – 2013||Swap||200,000 MMBtu/month||$3.54/MMBtu|
|Natural Gas – 2013||Swap||190,000 MMBtu/month||$3.80/MMBtu|