|3 Months Ended|
Mar. 31, 2019
|Subsequent Events [Abstract]|
In April 2019, the Company entered into fixed price swaps for 2019 for approximately 3,000 Bbls of oil per day at a weighted average price of $61.55 per Bbl and for approximately 500 Bbls of C5 pentane per day at a weighted average price of $53.34 per Bbl. For 2020, the Company entered into fixed price swaps for approximately 6,000 Bbls of oil per day at a weighted average price of $59.82 per Bbl. The Company’s fixed price swap contracts are tied to the commodity prices on NYMEX WTI for oil and Mont Belvieu for pentane. The Company will receive the fixed price amount stated in the contract and pay to its counterparty the current market price as listed on NYMEX for oil or Mont Belvieu for pentane.
Stock Repurchase Program
In April 2019, the Company repurchased 0.2 million shares for a total cost of approximately $1.8 million. As of April 26, 2019, the Company has repurchased an aggregate of 3.8 million shares for a total cost of $30.0 million, and had an additional $370.0 million authorized for repurchases under its new share repurchase program.
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.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef