DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2019

The following summarizes the fair value and classification of our derivatives at December 31, 2018:



Balance sheet location	Gross fair value of assets		Gross liabilities offset against assets in the Balance Sheet			Net fair value of assets presented in the Balance Sheet
	(in thousands)
Derivatives, current assets	$	22,512	$	(6,089	)	$	16,423
Derivatives, long-term assets	7,910		(4,963		)	2,947
Total	$	30,422	$	(11,052	)	$	19,370

໿



Balance sheet location	Gross fair value of liabilities		Gross assets offset against liabilities in the Balance Sheet			Net fair value of liabilities presented in the Balance Sheet
	(in thousands)
Derivatives, current liabilities	$	7,799	$	(6,089	)	$	1,710
Derivatives, long-term liabilities	5,143		(4,963		)	180
Total	$	12,942	$	(11,052	)	$	1,890

໿

The following summarizes the effect of our derivatives in our statements of operations (in thousands):



	Successor						Predecessor
				February 9, 2018			January 1, 2018
Derivatives not	Year Ended			Through			Through
designated as hedges	December 31, 2019			December 31, 2018			February 8, 2018
Gain (loss) on derivatives -
Oil commodity contracts	$	(16,013	)	$	(3,559	)	$	4,796
Natural gas commodity contracts	4,269			(6,688		)	1,867
Total gain (loss) on derivatives	$	(11,744	)	$	(10,247	)	$	6,663

Alta Mesa Resources, Inc. /DE 10-K