Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.6.0.2
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
Percentage of Revenue by Major Customers

The following identifies customers from whom we derived 10% or more of our receipts from sales of crude oil, NGLs and natural gas.

 

Year Ended December 31,

 

 

2016

 

 

2015

 

 

2014

 

Customer

 

 

 

 

 

 

 

 

 

 

 

Shell Trading (US) Co.

 

43

%

 

 

50

%

 

 

47

%

Vitol Inc.

 

20

%

 

**

 

 

**

 

J. P. Morgan

**

 

 

 

14

%

 

**

 

** Less than 10%

Schedule of Amounts Recorded in Prepaid Expenses and Other

Amounts recorded in Prepaid expenses and other on the Consolidated Balance Sheets are expected to be realized within one year.  Items representing 5% or more of total current assets in either period presented are disclosed in the following table:  

 

Year Ended December 31,

 

 

2016

 

 

2015

 

Derivative assets - current (1)

$

 

 

$

10,036

 

Prepaid/accrued  insurance and surety bonds

 

5,386

 

 

 

7,475

 

Prepaid deposits related to royalties

 

6,237

 

 

 

5,943

 

Other (2)

 

2,881

 

 

 

3,425

 

Prepaid expenses and other

$

14,504

 

 

$

26,879

 

 

(1)

Includes open and closed (and not yet collected) derivative commodity contracts recorded at fair value as of December 31, 2015.

 

(2)

Individual items were less than 5% of total current assets for either period presented.