KOSMOS ENERGY LTD. Notes to Consolidated Financial Statements (Continued) 9. Derivative Financial Instruments (Continued) The following tables disclose the Company’s derivative instruments as of December 31, 2017 and 2016 and gain/(loss) from derivatives during the years ended December 31, 2017, 2016 and 2015. Estimated Fair Value Asset (Liability) December 31, Type of Contract Balance Sheet Location 2017 2016 (In thousands) Derivatives not designated as hedging instruments: Derivative assets: Commodity(1) . . . . . . . . . . . . . . . . . . . . . . . Derivatives assets—current $ 665 $ 31,698 Interest rate . . . . . . . . . . . . . . . . . . . . . . . . . Derivatives assets—current 1,017 — Commodity(2) . . . . . . . . . . . . . . . . . . . . . . . Derivatives assets—long-term 39 3,226 Interest rate . . . . . . . . . . . . . . . . . . . . . . . . . Derivatives assets—long-term — 582 Derivative liabilities: Commodity(3) . . . . . . . . . . . . . . . . . . . . . . . Derivatives liabilities—current (67,531) (19,163) Interest rate . . . . . . . . . . . . . . . . . . . . . . . . . Derivatives liabilities—current — (529) Commodity(4) . . . . . . . . . . . . . . . . . . . . . . . Derivatives liabilities—long-term (30,209) (14,123) Total derivatives not designated as hedging instruments . . . . . . . . . . . . . . . . . . . . . . . . $(96,019) $ 1,691 (1) Includes net deferred premiums receivable of $0.8 million and net deferred premiums payable of $3.9 million related to commodity derivative contracts as of December 31, 2017 and 2016, respectively. (2) Includes net deferred premiums receivable of $0.1 million and net deferred premiums payable of $2.5 million related to commodity derivative contracts as of December 31, 2017 and 2016, respectively. (3) Includes zero and $30.9 thousand as of December 31, 2017 and December 31, 2016, respectively which represents our provisional oil sales contract. Also, includes net deferred premiums payable of $5.6 million and $6.2 million related to commodity derivative contracts as of December 31, 2017 and 2016, respectively. (4) Includes net deferred premiums payable of $4.8 million and $0.6 million related to commodity derivative contracts as of December 31, 2017 and 2016, respectively. 134