b'Commodity Price SensitivityThe following table provides information about our oil derivative financial instruments that weresensitive to changes in oil prices as of December 31, 2018:Weighted Average Price per BblNetDeferred Asset (Liability)Premium Fair Value atPayable/ December 31,Term Type of Contract Index MBbl (Receivable) Swap Sold Put Floor Ceiling 2018(3)2019JanuaryDecember . . . . Three-way collars Dated Brent 10,500 $1.17 $$43.81 $53.33 $73.58 $13,355JanuaryDecember . . . . Sold calls(1) Dated Brent 913 80.00 (9,465)JanuaryDecember . . . . Swaps NYMEX 1,74752.318,988WTIJanuaryJune . . . . . . . . Collars NYMEX 33957.77 63.70 3,968WTIJanuaryDecember . . . . Collars Argus LLS 1,00060.00 88.75 10,3902020JanuaryDecember . . . . Three-way collars Dated Brent 2,000 $$$50.00 $60.00 $90.54 $ 9,181JanuaryDecember . . . . Sold calls(1)(2) Dated Brent 8,000 1.1785.00 (6,108)(1) Represents call option contracts sold to counterparties to enhance other derivative positions.(2) Deferred premium payable to be paid JanuaryDecember 2019.(3) Fair values are based on the average forward oil prices on December 31, 2018.In January and February 2019, we entered into three-way collar contracts for 2.0 MMBbl fromJanuary 2020 through December 2020 with a sold put price of $40.00 per barrel, a floor price of $55.00per barrel and a ceiling price of $75.00 per barrel. The contracts are indexed to Dated Brent prices andhave a net deferred premium payable of $2.5 million.At December 31, 2018, our open commodity derivative instruments were in a net asset position of$30.7 million. As of December 31, 2018, a hypothetical 10% price increase in the commodity futuresprice curves would decrease future pre-tax earnings by approximately $45.7 million. Similarly, ahypothetical 10% price decrease would increase future pre-tax earnings by approximately $43.9 million.Interest Rate SensitivityAt December 31, 2018, we had indebtedness outstanding under the Facility of $1,325.0 million andthe Corporate Revolver of $325.0 million, which bore interest at floating rates. The interest rate on thisindebtedness as of December 31, 2018 was approximately 5.8% and 7.5%, respectively. If LIBORincreased 10% at this level of floating rate debt, we would pay an additional $4.2 million in interestexpense per year. We pay commitment fees on the $275.0 million of undrawn availability under theFacility and on the $75.0 million of undrawn availability under the Corporate Revolver at December 31,2018, which are not subject to changes in interest rates.101'