GeoMet, Inc. | 2013 | FY | 3


At December 31, 2013, we had the following natural gas derivative contracts:

 

Contract
Type

 

Period

 

Volume
(MMBtu)

 

Fixed Price or
Sold Ceiling/

Bought Floor

 

Derivative
liability—
current

 

Derivative
liability—
non-current

 

Total Fair
Value of
Contract

 

Swap

 

January 2014 through March 2014

 

360,000

 

$3.82

 

(164,121

)

 

(164,121

)

Collar

 

January 2014 through December 2015

 

3,650,000

 

$4.30/$3.60

 

(280,392

)

(296,436

)

(576,828

)

Collar

 

January 2014 through December 2015

 

3,650,000

 

$4.20/$3.50

 

(389,638

)

(413,135

)

(802,773

)

 

 

 

 

7,660,000

 

 

 

$

(834,151

)

$

(709,571

)

$

(1,543,722

)

 

At December 31, 2012, we had the following natural gas derivative contracts:

 

Contract
Type

 

Period

 

Volume
(MMBtu)

 

Fixed Price or
Sold Ceiling/
Bought Floor

 

Derivative
asset—
current

 

Derivative
liability—
current

 

Derivative
liability—
non-current

 

Total Fair
Value of
Contract

 

Collar

 

January 2014 through December 2015

 

3,650,000

 

$4.30/$3.60

 

$

 

$

 

$

(556,636

)

$

(556,636

)

Collar

 

January 2014 through December 2015

 

3,650,000

 

$4.20/$3.50

 

 

 

(796,266

)

(796,266

)

Swap

 

January 2013 through March 2013

 

360,000

 

$6.42

 

1,100,395

 

 

 

1,100,395

 

Swap

 

January 2013 through March 2013

 

540,000

 

$6.50

 

1,156,734

 

 

 

1,156,734

 

Swap

 

January 2013 through December 2013

 

2,190,000

 

$3.60

 

127,253

 

 

 

127,253

 

Swap

 

January 2013 through March 2014

 

3,640,000

 

$3.81

 

758,669

 

 

(144,994

)

613,675

 

Swap

 

January 2013 through March 2014

 

3,640,000

 

$3.82

 

786,716

 

 

(138,452

)

648,264

 

Swap

 

April 2013 through December 2013

 

2,750,000

 

$3.25

 

 

(919,572

)

 

(919,572

)

 

 

 

 

20,420,000

 

 

 

$

3,929,767

 

$

(919,572

)

$

(1,636,348

)

$

1,373,847

 


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At December 31, 2012, we had the following forward sales at NYMEX plus a fixed basis:

 

Period

 

Volume
(MMBtu)

 

Fixed
Basis

 

January 2013 through March 2013

 

450,000

 

$

0.19

 

January 2013 through March 2013

 

918,000

 

$

0.22

 

 

 

1,368,000

 

 

 


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