Subsequent Events |
9 Months Ended |
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Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events |
SUBSEQUENT EVENTS
In October 2015, the Company entered into fixed price swaps and swaptions for 37,500 MMBtu of natural gas per day at a weighted average price of $2.84 per MMBtu for the period from January 2016 through March 2016. For the period from April 2016 through October 2016, the Company entered into fixed swaps and swaptions for 57,500 MMBtu of natural gas per day at a weighted average price of $2.87 per MMBtu. For the period from November 2016 through December 2016, the Company entered into fixed price swaps and swaptions for 82,500 MMBtu of natural gas per day at a weighted average price of $2.86 per MMBtu. For the period from January 2017 through March 2017, the Company entered into fixed price swaps and swaptions for 45,000 MMBtu of natural gas per day at a weighted average price of $2.88 per MMBtu. The Company's fixed price swap and swaption contracts are tied to the commodity prices on NYMEX. The Company will receive the fixed price amount stated in the contract and pay to its counterparty the current market price listed on NYMEX for natural gas.
In October 2015, the Company entered into natural gas basis swap positions for 50,000 MMBtu per day at a weighted average differential of $.59 per MMBtu. These basis swaps settle on the pricing index to basis differential of Tetco M2 to the NYMEX Henry Hub natural gas prices.
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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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