Jagged Peak Energy 10-Q 9 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 03, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Document Fiscal Year Focus	2,018
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Period Focus	Q2
Entity Registrant Name	Jagged Peak Energy Inc.
Entity Central Index Key	1,685,715
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		213,179,232

CONSOLIDATED AND COMBINED BALAN

CONSOLIDATED AND COMBINED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 135,492	$ 9,523
Accounts receivable	68,137	50,734
Derivative instruments	48,129	0
Other current assets	1,951	806
Total current assets	253,709	61,063
PROPERTY AND EQUIPMENT
Oil and natural gas properties, successful efforts method	1,598,172	1,195,831
Accumulated depletion	(268,398)	(166,592)
Total oil and gas properties, net	1,329,774	1,029,239
Other property and equipment, net	9,517	9,708
Total property and equipment, net	1,339,291	1,038,947
OTHER NONCURRENT ASSETS
Unamortized debt issuance costs	4,106	3,273
Derivative instruments	5,178	26
Other assets	119	119
Total noncurrent assets	9,403	3,418
TOTAL ASSETS	1,602,403	1,103,428
CURRENT LIABILITIES
Accounts payable	25,243	382
Accrued liabilities	126,791	132,311
Derivative instruments	75,117	41,782
Total current liabilities	227,151	174,475
LONG-TERM LIABILITIES
Long-term debt	488,906	155,000
Derivative instruments	17,593	11,095
Asset retirement obligations	1,277	811
Deferred income taxes	79,995	57,943
Other long-term liabilities	4,600	4,759
Total long-term liabilities	592,371	229,608
Commitments and contingencies
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value; 50,000,000 shares authorized, none issued	0	0
Common stock, $0.01 par value; 1,000,000,000 shares authorized, 213,179,232 shares issued at June 30, 2018; 212,930,655 shares issued at December 31, 2017	2,132	2,129
Additional paid-in capital	851,529	773,674
Accumulated deficit	(70,780)	(76,458)
Total stockholders’ equity	782,881	699,345
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 1,602,403	$ 1,103,428

CONSOLIDATED AND COMBINED BALA3

CONSOLIDATED AND COMBINED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock shares authorized (in shares)	50,000,000	50,000,000
Preferred stock shares issued (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock shares issued (in shares)	213,179,232	212,930,655

CONSOLIDATED AND COMBINED STATE

CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
REVENUES
Oil sales	$ 148,614	$ 48,388	$ 269,337	$ 85,153
Natural gas sales	2,338	1,841	5,213	2,758
NGL sales	7,599	2,663	12,907	4,181
Other operating revenues	125	159	272	347
Total revenues	158,676	53,051	287,729	92,439
OPERATING EXPENSES
Lease operating expenses	10,486	3,890	20,206	5,500
Gathering and processing expenses	0	655	0	1,047
Production and ad valorem taxes	9,246	3,537	16,920	6,177
Exploration	1	2	1	8
Depletion, depreciation, amortization and accretion	54,915	22,311	102,892	36,373
Impairment of unproved oil and natural gas properties	0	101	53	108
General and administrative expenses (including equity-based compensation of $2,379 and $10,775 for the three months ended June 30, 2018 and 2017, respectively, and $78,057 and $419,739 for the six months ended June 30, 2018 and 2017, respectively)	10,833	18,220	97,150	431,771
Other operating expenses	24	47	46	182
Total operating expenses	85,505	48,763	237,268	481,166
INCOME (LOSS) FROM OPERATIONS	73,171	4,288	50,461	(388,727)
OTHER INCOME (EXPENSE)
Gain (loss) on commodity derivatives	(9,584)	26,573	(13,910)	43,615
Interest expense, net	(6,108)	(432)	(8,839)	(1,143)
Other, net	10	243	18	414
Total other income (expense)	(15,682)	26,384	(22,731)	42,886
INCOME (LOSS) BEFORE INCOME TAX	57,489	30,672	27,730	(345,841)
Income tax expense (benefit)	12,408	14,269	22,052	103,637
NET INCOME (LOSS)	$ 45,081	$ 16,403	$ 5,678	$ (449,478)
Net income (loss) attributable to Jagged Peak Energy Inc. Stockholders per common share:
Basic (in dollars per share)	$ 0.21	$ 0.08	$ 0.03	$ (0.35)
Diluted (in dollars per share)	$ 0.21	$ 0.08	$ 0.03	$ (0.35)
Weighted average common shares outstanding:
Basic (in shares)	213,142	212,932	213,073	212,934
Diluted (in shares)	213,262	213,051	213,169	212,934
Predecessor
OTHER INCOME (EXPENSE)
NET INCOME (LOSS)	$ 0	$ 0	$ 0	$ (375,476)
Successor
OTHER INCOME (EXPENSE)
NET INCOME (LOSS)	$ 45,081	$ 16,403	$ 5,678	$ (74,002)

CONSOLIDATED AND COMBINED STAT5

CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Financial Position [Abstract]
Equity-based compensation	$ 2,379	$ 10,775	$ 78,057	$ 419,739

CONSOLIDATED AND COMBINED STAT6

CONSOLIDATED AND COMBINED STATEMENT OF CHANGES IN EQUITY - 6 months ended Jun. 30, 2018 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning Balance at Dec. 31, 2017	$ 699,345	$ 2,129	$ 773,674	$ (76,458)
Beginning Balance (in shares) at Dec. 31, 2017		212,931
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon vesting of equity-based compensation awards, net of shares withheld for income taxes	(199)	$ 3	(202)
Issuance of common stock in corporate reorganization (in shares)		248
Equity-based compensation	78,057		78,057
Net income (loss)	5,678			5,678
Ending Balance at Jun. 30, 2018	$ 782,881	$ 2,132	$ 851,529	$ (70,780)
Ending Balance (in shares) at Jun. 30, 2018		213,179

CONSOLIDATED AND COMBINED STAT7

CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 5,678	$ (449,478)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, amortization and accretion	102,892	36,373
Impairment of unproved oil and natural gas properties	53	108
Amortization of debt issuance costs	1,021	260
Deferred income taxes	22,052	103,637
Equity-based compensation	78,057	419,739
(Gain) loss on commodity derivatives	13,910	(43,615)
Net cash receipts (payments) on settled derivatives	(27,358)	496
Other	(156)	(83)
Change in operating assets and liabilities:
Accounts receivable and other current assets	(18,549)	(8,710)
Other assets	0	(119)
Accounts payable and accrued liabilities	22,214	1,397
Net cash provided by operating activities	199,814	60,005
CASH FLOWS FROM INVESTING ACTIVITIES
Leasehold and acquisition costs	(11,053)	(52,968)
Development of oil and natural gas properties	(392,968)	(195,212)
Other capital expenditures	(1,881)	(1,456)
Net cash used in investing activities	(405,902)	(249,636)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from senior notes	500,000	0
Proceeds from credit facility	165,000	10,000
Repayment of credit facility	(320,000)	(142,000)
Debt issuance costs	(12,743)	(1,421)
Proceeds from issuance of common stock in initial public offering, net of underwriting fees	0	401,625
Costs relating to initial public offering	0	(3,216)
Employee tax withholding for settlement of equity compensation awards	(200)	(88)
Net cash provided by financing activities	332,057	264,900
NET CHANGE IN CASH AND CASH EQUIVALENTS	125,969	75,269
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	9,523	11,727
CASH AND CASH EQUIVALENTS, END OF PERIOD	135,492	86,996
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest paid, net of capitalized interest	3,813	1,001
Cash paid for income taxes	0	0
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES
Accrued capital expenditures	102,306	93,834
Asset retirement obligations	$ 426	$ 246

Organization, Operations and Ba

Organization, Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Operations and Basis of Presentation	Organization, Operations and Basis of Presentation Organization and Operations Jagged Peak Energy Inc. (either individually or together with its subsidiaries, as the context requires, “Jagged Peak” or the “Company”) is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the southern Delaware Basin; the Delaware Basin is a sub-basin of the Permian Basin of West Texas. The Company’s acreage is located on large, contiguous blocks in the adjacent counties of Winkler, Ward, Reeves and Pecos, with significant oil-in-place within multiple stacked hydrocarbon-bearing formations. Corporate Reorganization and Initial Public Offering Jagged Peak is a Delaware corporation formed in September 2016, as a wholly owned subsidiary of Jagged Peak Energy LLC (“JPE LLC”), a Delaware limited liability company formed in April 2013. JPE LLC was formed by an affiliate of Quantum Energy Partners (“Quantum”) and former members of Jagged Peak’s management team. Jagged Peak was formed to become the holding company of JPE LLC in connection with Jagged Peak’s initial public offering (the “IPO”). Immediately prior to the IPO, a corporate reorganization (the “corporate reorganization”) took place whereby JPE LLC became a wholly owned subsidiary of Jagged Peak. As all power and authority to control the core functions of Jagged Peak and JPE LLC were, and continue to be, controlled by Quantum, the corporate reorganization was treated as a reorganization of entities under common control and the results of JPE LLC have been consolidated and combined for all periods. On January 27, 2017, the Company initiated its IPO of 31,599,334 shares of common stock to the public, which included 3,266,000 shares sold by the selling stockholders. The stock was priced at $15.00 per share and the Company received net proceeds of approximately $397.0 million after deducting offering expenses and underwriting discounts and commissions. The Company did not receive any proceeds from the sale of the shares by the selling stockholders. Additional background on the Company and its IPO, along with details of the ownership of the Company are available in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 (the “ 2017 Form 10-K”). Basis of Presentation The accompanying unaudited consolidated and combined financial statements include the accounts of Jagged Peak and JPE LLC, and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, and should be read in conjunction with the financial statements, summary of significant accounting policies and footnotes included in the 2017 Form 10-K. Accordingly, certain disclosures required by GAAP and normally included in Annual Reports on Form 10-K have been condensed or omitted from this report; however, except as disclosed herein, there has been no material change in the information disclosed in the notes to consolidated and combined financial statements included in the 2017 Form 10-K. All significant intercompany and intra-company balances and transactions have been eliminated. It is the opinion of management that all adjustments, consisting of normal recurring adjustments considered necessary for a fair presentation of interim financial information, have been included. The Company has no items of other comprehensive income or loss; therefore, its net income or loss is identical to its comprehensive income or loss. Operating results for the periods presented are not necessarily indicative of expected results for the full year because of the impact of fluctuations in prices received for oil, natural gas and NGLs, expected production increases due to development activities, natural production declines, the uncertainty of exploration and development drilling results, the fair value of derivative instruments and other factors. The unaudited consolidated and combined financial statements for periods prior to January 27, 2017 reflect the historical results of JPE LLC, other than the equity-based compensation expense and deferred tax expense, as further described in Note 5 , Equity-based Compensation , and Note 7 , Income Taxes , respectively.

Significant Accounting Policies

Significant Accounting Policies and Related Matters	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Significant Accounting Policies and Related Matters	Significant Accounting Policies and Related Matters Significant Accounting Policies The significant accounting policies followed by the Company are set forth in Note 2, Significant Accounting Policies and Related Matters , to the Company’s consolidated and combined financial statements in its 2017 Form 10-K, and are supplemented by the notes to the consolidated and combined financial statements in this Quarterly Report on Form 10-Q. Any new accounting policies or updates to existing accounting policies as a result of new accounting pronouncements have been included in these notes to the consolidated and combined financial statements. Use of Estimates In the course of preparing the consolidated and combined financial statements, management makes various assumptions, judgments and estimates to determine the reported amounts of assets, liabilities, revenues and expenses, and in the disclosures of commitments and contingencies. Changes in these assumptions, judgments and estimates will occur as a result of the passage of time and the occurrence of future events. Although management believes these estimates are reasonable, actual results could differ from these estimates. Estimates made in preparing these consolidated and combined financial statements include, among other things, (1) estimates of oil and natural gas reserve quantities, which impact depreciation, depletion and amortization and impairment of oil and natural gas properties, (2) operating and capital costs accrued, (3) estimates of timing and costs used in calculating asset retirement obligations, (4) estimates of the fair value of equity-based compensation, (5) estimates used in developing fair value assumptions and estimates, (6) estimates of deferred income taxes and (7) estimates and assumptions used in the disclosure of commitments and contingencies. Changes in estimates, assumptions or actual results could have a significant impact on results in future periods. Revenue Recognition On January 1, 2018, the Company adopted Accounting Standards Codification Topic 606, Revenue from Contracts with Customers , (“ASC 606”) using the modified retrospective approach, which only applied to contracts that were in effect as of the date of adoption. The adoption did not require an adjustment to opening retained earnings for the cumulative effect adjustment and did not impact the Company’s previously reported results of operations, nor its ongoing consolidated and combined balance sheets, statements of cash flow or statement of changes in equity. Under ASC 606, oil, natural gas and NGL sales revenues are recognized when control of the product is transferred to the customer, the performance obligations under the terms of the contracts with customers are satisfied and collectability is reasonably assured. All of the Company’s oil, natural gas and NGL sales are made under contracts with customers. The performance obligations for the Company’s contracts with customers are satisfied at a point in time through the delivery of oil and natural gas to its customers. Accordingly, the Company’s contracts do not give rise to contract assets or liabilities. The Company typically receives payment for oil, natural gas and NGL sales within 30 days of the month of delivery. The Company’s contracts for oil, natural gas and NGL sales are standard industry contracts that include variable consideration based on the monthly index price and adjustments that may include counterparty-specific provisions related to volumes, price differentials, discounts and other adjustments and deductions. Under the Company’s current gas processing contracts, it delivers natural gas to a purchaser at or near the wellhead. For these contracts, the Company has concluded the purchaser is the customer, and as such, the Company recognizes natural gas and NGLs revenues based on the net amount of proceeds it receives from the purchaser. The Company’s product types are as follows: Oil Sales . Under the Company’s oil sales contracts, the Company generally sells oil to the purchaser at or near the wellhead, and collects a contractually agreed upon index price, net of pricing and gathering and transportation differentials. The Company transfers control of the product to the purchaser at or near the wellhead and recognizes revenue based on the net price received. Natural Gas and NGL Sales . Under the Company’s natural gas sales contracts, the Company delivers and transfers control of natural gas to the purchaser at delivery points at or near the wellhead. The purchaser gathers and processes the natural gas and sells the resulting residue gas and NGLs to purchasers. The Company receives its contractual portion of the proceeds for the sale of the residue gas and NGLs at an agreed upon index price, net of pricing differentials and applicable selling expenses including gathering, processing and fractionation costs. The Company recognizes revenue at the expected net price when control transfers to the purchaser. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the variable consideration is allocated entirely to a wholly unsatisfied performance obligation, as allowed under ASC 606. Under the Company’s oil, natural gas and NGL sales contracts, each unit of product delivered to the customer represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. Disaggregation of Revenue The Company’s oil, natural gas and NGL sales revenues represent substantially all of its revenues, and are derived from the sale of oil, natural gas and NGL production within the Permian Basin. The Company believes the disaggregation of revenues into the three product types of oil sales, natural gas sales and NGL sales, as seen on the consolidated and combined statements of operations, is an appropriate level of detail for its primary activity. Accounts Receivable At June 30, 2018 and December 31, 2017 , accounts receivable was comprised of the following: (in thousands) June 30, 2018 December 31, 2017 Oil and gas sales $ 49,009 $ 42,869 Joint interest 17,383 7,860 Other 1,745 5 Total accounts receivable $ 68,137 $ 50,734 At June 30, 2018 and December 31, 2017 , the Company did no t have any reserves for doubtful accounts and did not incur any bad debt expense in any period presented. Oil and Natural Gas Properties A summary of the Company’s oil and natural gas properties, net is as follows: (in thousands) June 30, 2018 December 31, 2017 Proved oil and natural gas properties $ 1,420,427 $ 1,012,321 Unproved oil and natural gas properties 177,745 183,510 Total oil and natural gas properties 1,598,172 1,195,831 Less: Accumulated depletion (268,398 ) (166,592 ) Total oil and natural gas properties, net $ 1,329,774 $ 1,029,239 Capitalized leasehold costs attributable to proved properties are depleted using the units-of-production method based on proved reserves on a field basis. Capitalized well costs, including asset retirement costs, are depleted based on proved developed reserves on a field basis. For the three months ended June 30, 2018 and 2017 , the Company recorded depletion for oil and natural gas properties of $54.4 million and $21.9 million , respectively. For the six months ended June 30, 2018 and 2017 , the Company recorded depletion for oil and natural gas properties of $101.8 million and $35.5 million , respectively. Depletion expense is included in depletion, depreciation, amortization and accretion expense on the accompanying consolidated and combined statements of operations. Accrued Liabilities The components of accrued liabilities are shown below: (in thousands) June 30, 2018 December 31, 2017 Accrued capital expenditures $ 89,756 $ 102,956 Accrued accounts payable 7,144 8,488 Royalties payable 8,596 6,105 Accrued LOE 7,827 5,736 Other current liabilities 13,468 9,026 Total accrued liabilities $ 126,791 $ 132,311 Recent Accounting Pronouncements Recently Adopted Accounting Standards Revenue from Contracts with Customers . In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which outlined a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most prior revenue recognition guidance, including industry-specific guidance. The Company adopted the new standard on January 1, 2018, as described above. The Company implemented the necessary changes to its business processes, systems and controls to support recognition and disclosure of this new standard. The Company’s financial statement presentation related to revenue received from certain gas sales contracts changed as a result of the new standard. Under previous guidance, proceeds from certain gas sales contracts were reported gross, with related costs for gathering and processing being presented separately as gathering and processing expense. Upon adoption of the new standard, the Company presents revenue from these contracts net of gathering and processing costs, as these costs are incurred after control of the product is transferred to the customer. The impact of the new revenue recognition standard on the Company’s current period results is as follows: Three Months Ended June 30, 2018 (in thousands) Amounts presented on statements of operations ASC 606 Adjustments Previous Revenue Recognition Method Revenues Oil sales $ 148,614 $ — $ 148,614 Natural gas sales 2,338 986 3,324 NGL sales 7,599 2,986 10,585 Other operating revenues 125 — 125 Total revenues $ 158,676 $ 3,972 $ 162,648 Operating expenses Gathering and processing expenses $ — $ 3,972 $ 3,972 Net income (loss) $ 45,081 $ — $ 45,081 Six Months Ended June 30, 2018 (in thousands) Amounts presented on statements of operations ASC 606 Adjustments Previous Revenue Recognition Method Revenues Oil sales $ 269,337 $ — $ 269,337 Natural gas sales 5,213 1,885 7,098 NGL sales 12,907 4,601 17,508 Other operating revenues 272 — 272 Total revenues $ 287,729 $ 6,486 $ 294,215 Operating expenses Gathering and processing expenses $ — $ 6,486 $ 6,486 Net income (loss) $ 5,678 $ — $ 5,678 Adoption of the new standard did not impact the Company’s previously reported results of operations or consolidated and combined cash flows statements. Stock Compensation - Scope of Modification Accounting . In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718) Scope of Modification Accounting . The ASU clarified which changes to the terms or conditions of an equity-based payment award require an entity to apply modification accounting in Topic 718. The standard became effective for the Company on January 1, 2018. The adoption of this new standard did not impact the Company’s consolidated and combined statements of operations, balance sheets or cash flows. Accounting Standards Not Yet Adopted Leases . In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires all leases with a term greater than one year to be recognized on the balance sheet as right-of-use assets and lease liabilities. ASU 2016-02 retains a distinction between finance and operating leases concerning the recognition and presentation of the expense and payments related to leases in the statements of operations and cash flows. The update does not apply to leases of mineral rights to explore for or use oil and natural gas. Under ASU 2016-02, entities are required to adopt the new standard using a modified retrospective approach and apply the provisions of ASU 2016-02 to leasing arrangements existing at or entered into after the earliest comparative period presented in the financial statements. In January 2018, the FASB issued ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842 , which permits an entity to elect an optional transition practical expedient to not evaluate land easements that exist or expire before the Company's adoption of Topic 842 and that were not previously accounted for as leases under Topic 840. In July 2018, the FASB issued ASU 2018-11, Targeted Improvements , which provides entities an optional transitional relief method whereby prior periods would not require restatement while a cumulative adjustment to retained earnings during the period of adoption would be recorded. The Company continues its evaluation of the impact of ASU 2016-02, as amended, which includes an analysis of existing contracts, including drilling rig and frac fleet contracts, office leases and certain equipment. The Company is also evaluating the effect of ASU 2016-02, as amended, on its current accounting policies, disclosures and controls. The Company intends to adopt the new standard on January 1, 2019 using the optional transitional relief method provided for in ASU 2018-11. The Company believes that adopting the standard will result in increases to the assets and liabilities on its consolidated and combined balance sheets, and changes to the timing and presentation of certain operating expenses on its consolidated and combined statements of operations. The Company continues to monitor relevant industry guidance regarding the implementation of ASU 2016-02 and will adjust its implementation strategies as necessary.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company hedges a portion of its crude oil sales through derivative instruments to mitigate volatility in commodity prices. The use of these instruments exposes the Company to market basis differential risk if the WTI price does not move in parity with the Company’s underlying sales of crude oil produced in the southern Delaware Basin. The Company also hedges a portion of its market basis differential risk through basis swap contracts. The Company’s derivative instruments are carried at fair value on the consolidated and combined balance sheets. The Company estimates the fair value using risk adjusted discounted cash flow calculations. Cash flows are based on published future commodity price curves for the underlying commodity as of the date of the estimate. Due to the volatility of commodity prices, the estimated fair values of the Company’s derivative instruments are subject to fluctuation from period to period, which could result in significant differences between the current estimated fair value and the ultimate settlement price. For more information, refer to Note 9 , Fair Value Measurements . In an effort to reduce the variability of the Company’s cash flows, the Company hedged the commodity prices associated with a portion of its expected future oil volumes by entering into swap and basis swap derivative financial instruments. With swaps, the Company typically receives an agreed upon fixed price for a specified notional quantity of oil or natural gas, and the Company pays the hedge counterparty a floating price for that same quantity based upon published index prices. Basis swap contracts establish the differential between Cushing WTI prices and Midland WTI prices for the notional volumes contracted. The Company’s commodity derivatives may expose it to the risk of financial loss in certain circumstances. The Company’s derivative arrangements provide protection on the hedged volumes if market prices decline below the prices at which these derivatives are set. If market prices rise above the prices at which the Company has hedged, the Company will be required to make settlement payments to its derivative counterparties. The following table summarizes the Company’s derivative contracts as of June 30, 2018 : Contract Period Volumes Wtd Avg Price Oil Swaps: (1) Third quarter 2018 1,803,200 $ 55.39 Fourth quarter 2018 1,789,400 $ 55.66 Total 2018 3,592,600 $ 55.52 Year ending December 31, 2019 4,015,000 $ 55.48 Year ending December 31, 2020 732,000 $ 59.17 Oil Basis Swaps: (2) Third quarter 2018 1,610,000 $ (2.27 ) Fourth quarter 2018 1,610,000 $ (2.27 ) Total 2018 3,220,000 $ (2.27 ) Year ending December 31, 2019 3,285,000 $ (1.88 ) Year ending December 31, 2020 3,294,000 $ (1.08 ) (1) The index prices for the oil swaps are based on the NYMEX–WTI monthly average futures price. (2) The oil basis swap differential price is between Cushing–WTI and Midland–WTI. The Company has elected to not apply hedge accounting, and as a result, its earnings are affected by the use of the mark-to-market method of accounting for derivative financial instruments. Accordingly, the changes in fair value of these instruments are recognized through current earnings as other income or expense as they occur. The use of mark-to-market accounting for financial instruments can cause noncash earnings volatility due to changes in the underlying commodity price indices. The ultimate gain or loss upon settlement of these transactions is recognized in earnings as other income or expense. Cash settlements of the Company’s derivative contracts are included in cash flows from operating activities in the Company’s statements of cash flows. Subsequent to June 30, 2018 , the Company entered into the following additional derivative contracts: Contract Period Volumes Wtd Avg Price Oil Swaps: (1) Year ending December 31, 2019 3,650,000 $ 64.88 Year ending December 31, 2020 2,196,000 $ 61.37 Oil Basis Swaps: (2) Year ending December 31, 2019 5,478,000 $ (8.34 ) Year ending December 31, 2020 6,222,000 $ (1.43 ) (1) The index prices for the oil swaps are based on the NYMEX–WTI monthly average futures price. (2) The oil basis swap differential price is between Cushing–WTI and Midland–WTI. The Company recognized the following gains (losses) and net cash receipts (payments) in earnings for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Gain (loss) on derivative instruments, net $ (9,584 ) $ 26,573 $ (13,910 ) $ 43,615 Net cash receipts (payments) on settled derivatives $ (11,879 ) $ 1,567 $ (27,358 ) $ 496 The Company’s derivative contracts are carried at their fair value on the Company’s consolidated and combined balance sheets using Level 2 inputs, and are subject to industry standard master netting arrangements, which allow the Company to offset recognized asset and liability fair value amounts on contracts with the same counterparty. The Company’s policy is to not offset these positions in its consolidated and combined balance sheets. The following tables present the amounts and classifications of the Company’s commodity contract derivative assets and liabilities as of June 30, 2018 and December 31, 2017 (in thousands): As of June 30, 2018: Balance Sheet Location Gross amounts presented on the balance sheet Netting adjustments not offset on the balance sheet Net amounts Assets Commodity contracts Current assets - derivative instruments $ 48,129 $ (28,302 ) $ 19,827 Commodity contracts Noncurrent assets - derivative instruments 5,178 (5,178 ) — Total assets $ 53,307 $ (33,480 ) $ 19,827 Liabilities Commodity contracts Current liabilities - derivative instruments $ 75,117 $ (28,302 ) $ 46,815 Commodity contracts Noncurrent liabilities - derivative instruments 17,593 (5,178 ) 12,415 Total liabilities $ 92,710 $ (33,480 ) $ 59,230 As of December 31, 2017: Balance Sheet Location Gross amounts presented on the balance sheet Netting adjustments not offset on the balance sheet Net amounts Assets Commodity contracts Current assets - derivative instruments $ — $ — $ — Commodity contracts Noncurrent assets - derivative instruments 26 (26 ) — Total assets $ 26 $ (26 ) $ — Liabilities Commodity contracts Current liabilities - derivative instruments $ 41,782 $ — $ 41,782 Commodity contracts Noncurrent liabilities - derivative instruments 11,095 (26 ) 11,069 Total liabilities $ 52,877 $ (26 ) $ 52,851 Derivative Counterparty Risk Where the Company is exposed to credit risk in its financial instrument transactions, management analyzes the counterparty’s financial condition prior to entering into an agreement and monitors the appropriateness of these counterparties on an ongoing basis. Generally, the Company does not require collateral and does not anticipate nonperformance by its counterparties. The Company’s counterparty credit exposure related to commodity derivative instruments comprises contracts with a net positive fair value at the reporting date. These outstanding instruments, if any, expose the Company to credit risk in the event of nonperformance by the counterparties to the agreements. Should the creditworthiness of the Company’s counterparties decline, its ability to mitigate nonperformance risk is limited to a counterparty agreeing to either a voluntary termination and subsequent cash settlement or a novation of the derivative contract to a third-party. In the event of a counterparty default, the Company may sustain a loss and its cash receipts could be negatively impacted. At June 30, 2018 , the Company had commodity derivative contracts with six counterparties, all of which were lenders under the Company’s Amended and Restated Credit Facility (as defined in Note 4 , Debt ) and all of which had investment grade credit ratings. These counterparties accounted for all the Company’s counterparty credit exposure related to commodity derivative assets.

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt The Company’s debt consisted of the following at June 30, 2018 and December 31, 2017 : (in thousands) June 30, 2018 December 31, 2017 Senior secured revolving credit facility $ — $ 155,000 5.875% senior unsecured notes due 2026 500,000 — Debt issuance costs on senior unsecured notes (11,094 ) — Total long-term debt $ 488,906 $ 155,000 Senior Secured Revolving Credit Facility At December 31, 2017 , the Company’s amended and restated credit facility, as amended (the “Amended and Restated Credit Facility”), had a borrowing base of $425.0 million , with $155.0 million outstanding. In March 2018, the Company entered into Amendment No. 2 to the Amended and Restated Credit Facility, which extended the maturity date of the Amended and Restated Credit Facility to March 21, 2023 and increased the borrowing base to $540.0 million . Borrowings under the Amended and Restated Credit Facility under Amendment No. 2 bear interest at a rate elected by the Company that is equal to an adjusted base rate (which is equal to the greatest of the prime rate, the federal funds effective rate plus 0.50% and the thirty-day adjusted LIBOR plus 1.0% ) or LIBOR, in each case, plus the applicable margin. The applicable margin ranges from 0.50% to 1.50% in the case of the adjusted base rate, and from 1.50% to 2.50% in the case of LIBOR, in each case depending on the amount of the loan outstanding in relation to the elected commitments. The Company also incurs a commitment fee that is between 0.375% to 0.50% per year on the unused portion of the elected commitments, depending on the relative amount of the loan outstanding in relation to the elected commitments. In April 2018, and in connection with the issuance of the Senior Notes (as described and defined below), the lenders of the Amended and Restated Credit Facility agreed to waive a provision that would require a borrowing base reduction as a result of the Senior Notes. As a result, the borrowing base of the Amended and Restated Credit Facility continued to be $540.0 million as of June 30, 2018 . The Company also voluntarily elected to reduce the elected commitments to $475.0 million , effective as of the closing of the Senior Notes offering. Additionally, a portion of the proceeds from the Senior Notes were used to repay the entire outstanding balance under the Amended and Restated Credit Facility of $320.0 million as of the date the Senior Notes proceeds were received. In June 2018, the Company entered into Amendment No. 3 to the Amended and Restated Credit Facility which increased the amount the Company is permitted to hedge up to 85% of forecasted future production for up to 36 months in the future, and up to the greater of 75% of its proved reserves and 60% of its reasonably anticipated forecasted production for 37 to 60 months in the future, provided that no hedges have a term beyond five years. The Amended and Restated Credit Facility contains certain nonfinancial covenants, including among others, restrictions on: indebtedness, liens, investments, mergers, sales of assets, hedging activity, and dividends and payments to the Company’s capital interest holders. The Amended and Restated Credit Facility also contains financial covenants, which are measured on a quarterly basis. The covenants, as defined in the Amended and Restated Credit Facility, include requirements to comply with the following financial ratios: Financial Covenant Required Ratio Ratio of current assets to liabilities, as defined in the credit agreement Not less than 1.0 to 1.0 Ratio of debt to EBITDAX, as defined in the credit agreement Not greater than 4.0 to 1.0 As of June 30, 2018 , the Company was in compliance with its Amended and Restated Credit Facility financial covenants. In August 2018, the Company entered into Amendment No. 4 to the Amended and Restated Credit Facility which increased the borrowing base to $825.0 million and the Company increased its elected commitments to $540.0 million . 5.875% Senior Unsecured Notes due 2026 On May 8, 2018, JPE LLC issued $500.0 million aggregate principal amount of 5.875% senior unsecured notes that mature on May 1, 2026 (the “Senior Notes”) in a 144A private placement that was exempt from registration under the Securities Act. Interest is payable on the Senior Notes semi-annually in arrears on each May 1 and November 1, commencing November 1, 2018. The Senior Notes resulted in net proceeds to the Company, after deducting the initial purchasers’ discount and offering expenses, of $488.7 million . A portion of such proceeds was used to repay the entire outstanding balance under the Amended and Restated Credit Facility of $320.0 million as of the date the Senior Notes proceeds were received. The remainder of the net proceeds are expected to be used to fund a portion of the Company’s 2018 capital program and for other general corporate purposes. The Senior Notes are fully and unconditionally guaranteed on a senior unsecured basis by Jagged Peak and may be guaranteed by future subsidiaries. Jagged Peak has no independent assets or operations and has no other subsidiaries other than JPE LLC. There are no significant restrictions on the Company’s ability to obtain funds from its subsidiary in the form of cash dividends or other distributions of funds. In connection with the issuance of the Senior Notes, the Company entered into a registration rights agreement with the initial purchasers, dated May 8, 2018, to allow holders of the unregistered Senior Notes to exchange the unregistered Senior Notes for registered notes that have substantially identical terms. The Company agreed to use reasonable efforts to cause the exchange to be completed within 360 days after the issuance of the Senior Notes. The Company is required to pay additional interest if it fails to comply with its obligations to complete the exchange offer of the Senior Notes within the specified time period, whereby the interest rate would be increased by up to 1.0% per annum during the period in which a registration default is in effect. The Company expects to comply with the terms of the registration rights agreement and complete the exchange of the Senior Notes within the 360-day period. If the Company experiences certain defined changes of control, each holder of the Senior Notes may require the Company to repurchase all or a portion of its Senior Notes for cash at a price equal to 101% of the aggregate principal amount of such Senior Notes plus accrued and unpaid interest as of the date of repurchase, if any. The indenture governing the Senior Notes contains covenants that, among other things and subject to certain exceptions and qualifications, limit the Company’s ability and the ability of the Company’s restricted subsidiaries to: (i) incur or guarantee additional indebtedness or issue certain types of preferred stock; (ii) pay dividends on capital stock or redeem, repurchase or retire capital stock or subordinated indebtedness; (iii) transfer or sell assets; (iv) make investments; (v) create certain liens; (vi) enter into agreements that restrict dividends or other payments from their subsidiaries to them; (vii) consolidate, merge or transfer all or substantially all of their assets; (viii) engage in transactions with affiliates; and (ix) create unrestricted subsidiaries.

Equity-based Compensation

Equity-based Compensation	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-based Compensation	Equity-based Compensation Equity-based compensation expense, which is recorded in general and administrative expense in the accompanying consolidated and combined statements of operations, was as follows for each type of equity-based compensation award for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Incentive unit awards $ 559 $ 9,929 $ 75,158 $ 418,893 Restricted stock unit awards 794 377 2,113 377 Performance stock unit awards 892 339 497 339 Restricted stock unit awards issued to nonemployee directors 134 130 289 130 Total equity-based compensation expense $ 2,379 $ 10,775 $ 78,057 $ 419,739 Equity-based compensation expense will fluctuate based on the grant-date fair value of awards, the number of awards, the requisite service period of the awards, modification of awards, employee forfeitures, and the timing of the awards. For the six months ended June 30, 2018 , equity-based compensation expense includes (1) $71.3 million related to a modification of the service requirements in February 2018 for the incentive unit awards allocated at the IPO (as described further below) and (2) the reversal of equity-based compensation expense associated with awards that were forfeited, notably performance stock unit (“PSU”) awards forfeited by former executive officers. As the Company’s policy is to recognize forfeitures as they occur, previously recognized expense on unvested awards is reversed at the date of forfeiture. For the six months ended June 30, 2017 , equity-based compensation expense for incentive unit awards of $419.7 million included (1) $379.0 million related to the vested shares of common stock at the IPO date, all of which was noncash except for $14.7 million related to a management incentive advance payment made in April 2016, and (2) $22.2 million related to a modification in conjunction with a March 2017 separation agreement of a former executive officer. In February 2018, certain employees notified the Company of their desire to terminate their employment. Under the terms of the JPE Management Holdings LLC limited liability company agreement (“Management Holdco LLC Agreement”), upon voluntary termination of employment by an incentive unit award holder, the Board of Directors has the discretion to allow outstanding unvested incentive unit awards to immediately vest, to continue to vest post-termination, and/or to be automatically forfeited, or any combination thereof. Any forfeited incentive units would be reallocated to the remaining incentive unit holders employed by the Company. In February 2018, the Board of Directors modified these employees’ unvested incentive units to either immediately accelerate vesting, in the case of retiring employees, or continue to vest post-termination under the original vesting period. The Company determined that these changes should be accounted for as modifications under ASC 718 in the first quarter of 2018. As a result of these modifications to the service requirements, the Company determined that, for accounting purposes under ASC 718, the incentive unit awards allocated at IPO no longer met the substantive service condition, and that any previously unrecognized equity-based compensation expense should be recognized immediately. The acceleration of all previously unrecognized equity-based compensation expense for incentive unit awards allocated at the time of the IPO resulted in the recognition of $71.3 million of noncash equity-based compensation expense in the first quarter of 2018. This accounting does not alter the legal service obligations under the Management Holdco LLC Agreement for remaining employees whose awards were not modified. Equity-based compensation expense recognition related to incentive unit awards that were unallocated at the time of the IPO is unaffected. The following table summarizes the Company’s incentive unit award, restricted stock unit (“RSU”) award and PSU award activity for the six months ended June 30, 2018 : Incentive Units (2) Restricted Stock Units (3) Performance Stock Units Unvested at December 31, 2017 7,755,745 582,973 398,566 Awards Granted (1) 406,173 588,118 546,319 Vested (2,789,511 ) (264,130 ) — Forfeited (73,307 ) (125,854 ) (253,522 ) Unvested at June 30, 2018 5,299,100 781,107 691,363 (1) Weighted average grant-date fair value $ 13.40 $ 12.70 $ 16.23 (2) Included in the unvested incentive units at June 30, 2018 are 4,809,666 units for which equity-based compensation expense was accelerated and fully recognized in February 2018. See the discussion above for additional information. (3) Of the 588,118 RSUs granted during 2018 , nonemployee directors received 30,753 at a weighted average grant-date fair value of $13.17 . The following table reflects the future equity-based compensation expense to be recorded for each type of award that was outstanding at June 30, 2018 : Incentive Units Restricted Stock Units (1) Performance Stock Units Compensation costs remaining at June 30, 2018 (in millions) $ 5.8 $ 8.7 $ 9.2 Weighted average remaining period at June 30, 2018 (in years) 2.6 2.4 2.4 (1) The remaining compensation costs at June 30, 2018 for the nonemployee director RSUs was $0.4 million , with a weighted average remaining period of 0.9 years. At June 30, 2018 , there were 98,455 unallocated incentive units that are available to be granted. When these units are granted, they will be valued using the closing stock price on the date of grant, and the Company will recognize the related expense over the requisite service period.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net earnings by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per share is similarly computed, except that the denominator includes the effect, using the treasury stock method, of unvested RSUs and PSUs if including such potential shares of common stock units is dilutive. The PSUs included in the calculation of diluted weighted average shares outstanding are based on the number of shares of common stock that would be issuable if the end of the reporting period was the end of the performance period required for the vesting of such PSU awards. During periods in which the Company incurs a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of all awards is anti-dilutive. For the six months ended June 30, 2017 , the Company’s EPS calculation includes only the net loss for the period subsequent to the corporate reorganization and IPO and omits income or loss prior to these events. In addition, the basic weighted average shares outstanding calculation is based on the actual days in which the shares were outstanding for the period from January 27, 2017 to June 30, 2017 . A reconciliation of the components of basic and diluted earnings per common share is presented in the table below: Three Months Ended June 30, Six Months Ended From January 27, 2017, to (in thousands, except per share amounts) 2018 2017 June 30, 2018 June 30, 2017 Net income (loss) attributable to Jagged Peak Energy Inc. stockholders $ 45,081 $ 16,403 $ 5,678 $ (74,002 ) Basic weighted average shares outstanding 213,142 212,932 213,073 212,934 Dilutive restricted stock units 115 — 96 — Dilutive performance stock units 5 119 — — Diluted weighted average shares outstanding 213,262 213,051 213,169 212,934 Net income (loss) per common share: Basic $ 0.21 $ 0.08 $ 0.03 $ (0.35 ) Diluted $ 0.21 $ 0.08 $ 0.03 $ (0.35 ) The following table presents the weighted average number of outstanding equity awards that have been excluded from the computation of diluted earnings per common share as their inclusion would be anti-dilutive: Three Months Ended June 30, Six Months Ended From January 27, 2017, to (in thousands) 2018 2017 June 30, 2018 June 30, 2017 Number of antidilutive units: (1) Antidilutive restricted stock units 121 65 342 231 Antidilutive performance stock units 1 — 165 267 (1) When the Company incurs a net loss, all outstanding equity awards are excluded from the calculation of diluted loss per common share because the inclusion of these awards would be anti-dilutive.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense was as follows for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Income tax expense $ 12,408 $ 14,269 $ 22,052 $ 103,637 Effective tax rate 21.6 % 46.5 % 79.5 % (30.0 )% JPE LLC was organized as a limited liability company and treated as a pass-through entity for federal income tax purposes. As such, taxable income and any related tax credits were passed through to its members and included in their tax returns. Accordingly, provision for federal and state corporate income taxes has been made only for the operations of the Company from January 27, 2017 in the accompanying consolidated and combined financial statements. Included in the deferred federal income tax provision above for the six months ended June 30, 2017 , is a $79.1 million income tax expense related to the Company’s change in tax status as a result of the corporate reorganization. The Company computes its quarterly taxes under the effective tax rate method based on applying an anticipated annual effective rate to its year-to-date income, except for discrete items. Income taxes for discrete items are computed and recorded in the period that the specific transaction occurs. For the three months ended June 30, 2018 , the Company’s overall effective tax rate was different than the federal statutory rate of 21% primarily due to permanent differences on vested equity-based compensation awards. For the six months ended June 30, 2018 , the Company’s overall effective tax rate was different than the federal statutory rate of 21% primarily due to nondeductible equity-based compensation related to incentive unit awards allocated at the time of the IPO, and permanent differences on vested equity-based compensation awards. For the three and six months ended June 30, 2017 , the Company’s overall effective tax rate was different than the federal statutory rate of 35% primarily due to the impact of the change in tax status and nondeductible equity-based compensation. On December 22, 2017, the President signed into law Public Law No. 115-97, a comprehensive tax reform bill commonly referred to as the Tax Cuts and Jobs Act (the "Tax Act"). Due to the complexities involved in accounting for the enactment of the new law, the Securities and Exchange Commission (“SEC”) issued Staff Accounting Bulletin (“SAB”) 118 that allowed for a measurement period of up to one year after the enactment date of the Tax Act to finalize the impact of the Tax Act on a company's financial statements. The Company substantially completed its analysis of the Tax Act and recorded its estimated impact in the year ended December 31, 2017. As of June 30, 2018 , the Company has not made any material adjustments to its provisional estimate at December 31, 2017. Any changes to the calculation that do arise will be recorded as they are identified during the measurement period provided for by SAB 118.

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2018
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The following table summarizes the changes in the carrying amount of the asset retirement obligations for the six months ended June 30, 2018 . The current portion of the asset retirement obligation liability is included in accrued liabilities on the consolidated and combined balance sheets. (in thousands) Asset retirement obligations at January 1, 2018 $ 929 Liabilities incurred and assumed 392 Liability settlements and disposals (26 ) Revisions of estimated liabilities 35 Accretion 56 Asset retirement obligations at June 30, 2018 1,386 Less current portion of asset retirement obligations (109 ) Long-term asset retirement obligations $ 1,277

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). Financial assets and liabilities are measured at fair value on a recurring basis. Nonfinancial assets and liabilities, such as the initial measurement of asset retirement obligations and oil and natural gas properties upon acquisition or impairment, are recognized at fair value on a nonrecurring basis. The Company categorizes the inputs to the fair value of its financial assets and liabilities using a three-tier fair value hierarchy, established by the FASB, that prioritizes the significant inputs used in measuring fair value: Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, listed securities and U.S. government treasury securities. Level 2—Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry standard models that consider various assumptions, including quoted prices for commodities, time value, volatility factors and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in the category include nonexchange-traded derivatives such as over-the-counter forwards, swaps and options. Level 3—Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value, and the company does not have sufficient corroborating market evidence to support classifying these assets and liabilities as Level 2. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Reclassifications of fair value among Level 1, Level 2 and Level 3 of the fair value hierarchy, if applicable, are made at the end of each quarter. There were no transfers among Level 1, Level 2 or Level 3 during the six months ended June 30, 2018 . Assets and liabilities measured on a recurring basis Certain assets and liabilities are reported at fair value on a recurring basis. The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis: Level 2 (in thousands) June 30, 2018 December 31, 2017 Assets from commodity derivative contracts $ 53,307 $ 26 Liabilities due to commodity derivative contracts $ 92,710 $ 52,877 The fair value of the Company’s oil swaps and basis swaps is computed using discounted cash flows for the duration of each commodity derivative instrument using the terms of the related contract. Inputs consist of published forward commodity price curves as of the date of the estimate. The Company compares these prices to the price parameters contained in its hedge contracts to determine estimated future cash inflows or outflows, which are then discounted. The fair values of the Company’s commodity derivative assets and liabilities include a measure of credit risk. These valuations are Level 2 inputs. Fair Value of Other Financial Instruments The following table provides the fair value of financial instruments that are not recorded at fair value in the consolidated and combined balance sheets: June 30, 2018 December 31, 2017 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt: Senior secured revolving credit facility $ — $ — $ 155,000 $ 155,000 5.875% senior unsecured notes due 2026 $ 500,000 $ 492,970 $ — $ — The fair value of the Amended and Restated Credit Facility approximates its carrying value based on borrowing rates available to the Company for bank loans with similar terms and maturities and is classified as Level 2 in the fair value hierarchy. The fair value of the Senior Notes at June 30, 2018 was based on the quoted market price and is classified as Level 1 in the fair value hierarchy. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities are considered to be representative of their respective fair values due to the nature of and short-term maturities of those instruments. Assets and liabilities measured on a nonrecurring basis Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. These assets and liabilities include the acquisition or impairment of proved and unproved oil and gas properties and the inception value of asset retirement obligation liabilities. Proved oil and natural gas properties . The Company reviews its proved oil and natural gas properties for impairment whenever facts and circumstances indicate their carrying value may not be recoverable. In such circumstances, the income approach is used to determine the fair value of proved oil and natural gas reserves. Under this approach, the Company estimates the expected future cash flows of oil and natural gas properties and compares these undiscounted cash flows to the carrying amount of the oil and natural gas properties to determine if the carrying amount is recoverable. If the carrying amount exceeds the estimated undiscounted future cash flows, the Company will write down the carrying amount of the oil and natural gas properties to estimated fair value. The factors used to determine fair value may include, but are not limited to, estimates of reserves, future commodity prices, future production estimates, estimated future capital expenditures and a commensurate discount rate. These assumptions and estimates represent Level 3 inputs. Unproved oil and nature gas properties . Unproved oil and natural gas property costs are evaluated for impairment and reduced to fair value when there is an indication that the carrying costs may not be recoverable. To measure the fair value of the unproved properties, the Company uses a market approach, and takes into account future development plans, remaining lease term, drilling results and reservoir performance. These assumptions and estimates represent Level 3 inputs. The following table sets forth the noncash impairments of both proved and unproved properties for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Proved oil and natural gas property impairments $ — $ — $ — $ — Unproved oil and natural gas property impairments (1) — 101 53 108 $ — $ 101 $ 53 $ 108 (1) The impairments of unproved oil and natural gas properties resulted from expirations of certain undeveloped leases. Asset retirement obligations . The inception value and new layers resulting from upward revisions of the Company’s asset retirement obligations are also measured at fair value on a nonrecurring basis. The inputs used to determine such fair value are based primarily on the present value of estimated future cash outflows. Given the unobservable nature of these inputs, they represent Level 3 inputs.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments There were no material changes in commitments during the first six months of 2018 . Please refer to Note 10, Commitments and Contingencies , in the 2017 Form 10-K for additional discussion. Contingencies Legal Matters In the ordinary course of business, the Company may at times be subject to claims and legal actions. Management believes it is remote that the impact of any such current matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. Environmental Matters The Company accounts for environmental contingencies in accordance with the accounting guidance related to accounting for contingencies. Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Expenditures that relate to an existing condition caused by past operations, which do not contribute to current or future revenue generation, are expensed. Liabilities are recorded when environmental assessments and/or clean-ups are probable and the costs can be reasonably estimated. Such liabilities are generally undiscounted unless the timing of cash payments is fixed and readily determinable. At both June 30, 2018 and December 31, 2017 , the Company had no environmental matters requiring specific disclosure or requiring the recognition of a liability.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As a result of Quantum’s significant ownership interest in the Company, the Company identified Oryx Midstream Services, LLC (together with Oryx Southern Delaware Holdings, LLC, “Oryx”), Phoenix Lease Services, LLC (“Phoenix”) and Trident Water Services, LLC (“Trident”), a wholly owned subsidiary of Phoenix, as related parties. These entities are considered related parties as Quantum owns an interest, either directly or indirectly, in each entity. The following table summarizes fees paid to Oryx, Phoenix and Trident for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Oryx via 3rd party shipper (1) $ 5,550 $ 2,379 $ 10,284 $ 3,798 Oryx (2) $ 85 $ 303 $ 300 $ 652 Phoenix (3) $ 112 $ 117 $ 221 $ 202 Trident (3) $ — $ — $ — $ 236 (1) Fees paid by the Company’s third-party shipper to Oryx pursuant to the crude oil transportation and gathering agreement are netted against revenue as they are included in the net price paid by to the third-party shipper. (2) Fees paid to Oryx for the purchase and installation of metering equipment are capitalized to proved properties on the consolidated and combined balance sheets. (3) Fees paid to Phoenix and Trident are capitalized to proved properties on the consolidated and combined balance sheets. At June 30, 2018 and December 31, 2017 , the Company had outstanding payables to these related parties of $2.2 million and $1.8 million , respectively. See Note 11 , Related Party Transactions , in the 2017 Form 10-K for more information.

Significant Accounting Polici19

Significant Accounting Policies and Related Matters (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated and combined financial statements include the accounts of Jagged Peak and JPE LLC, and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, and should be read in conjunction with the financial statements, summary of significant accounting policies and footnotes included in the 2017 Form 10-K. Accordingly, certain disclosures required by GAAP and normally included in Annual Reports on Form 10-K have been condensed or omitted from this report; however, except as disclosed herein, there has been no material change in the information disclosed in the notes to consolidated and combined financial statements included in the 2017 Form 10-K. All significant intercompany and intra-company balances and transactions have been eliminated. It is the opinion of management that all adjustments, consisting of normal recurring adjustments considered necessary for a fair presentation of interim financial information, have been included. The Company has no items of other comprehensive income or loss; therefore, its net income or loss is identical to its comprehensive income or loss. Operating results for the periods presented are not necessarily indicative of expected results for the full year because of the impact of fluctuations in prices received for oil, natural gas and NGLs, expected production increases due to development activities, natural production declines, the uncertainty of exploration and development drilling results, the fair value of derivative instruments and other factors. The unaudited consolidated and combined financial statements for periods prior to January 27, 2017 reflect the historical results of JPE LLC, other than the equity-based compensation expense and deferred tax expense, as further described in Note 5 , Equity-based Compensation , and Note 7 , Income Taxes , respectively.
Use of Estimates	Use of Estimates In the course of preparing the consolidated and combined financial statements, management makes various assumptions, judgments and estimates to determine the reported amounts of assets, liabilities, revenues and expenses, and in the disclosures of commitments and contingencies. Changes in these assumptions, judgments and estimates will occur as a result of the passage of time and the occurrence of future events. Although management believes these estimates are reasonable, actual results could differ from these estimates. Estimates made in preparing these consolidated and combined financial statements include, among other things, (1) estimates of oil and natural gas reserve quantities, which impact depreciation, depletion and amortization and impairment of oil and natural gas properties, (2) operating and capital costs accrued, (3) estimates of timing and costs used in calculating asset retirement obligations, (4) estimates of the fair value of equity-based compensation, (5) estimates used in developing fair value assumptions and estimates, (6) estimates of deferred income taxes and (7) estimates and assumptions used in the disclosure of commitments and contingencies. Changes in estimates, assumptions or actual results could have a significant impact on results in future periods.
Revenue Recognition	Revenue Recognition On January 1, 2018, the Company adopted Accounting Standards Codification Topic 606, Revenue from Contracts with Customers , (“ASC 606”) using the modified retrospective approach, which only applied to contracts that were in effect as of the date of adoption. The adoption did not require an adjustment to opening retained earnings for the cumulative effect adjustment and did not impact the Company’s previously reported results of operations, nor its ongoing consolidated and combined balance sheets, statements of cash flow or statement of changes in equity. Under ASC 606, oil, natural gas and NGL sales revenues are recognized when control of the product is transferred to the customer, the performance obligations under the terms of the contracts with customers are satisfied and collectability is reasonably assured. All of the Company’s oil, natural gas and NGL sales are made under contracts with customers. The performance obligations for the Company’s contracts with customers are satisfied at a point in time through the delivery of oil and natural gas to its customers. Accordingly, the Company’s contracts do not give rise to contract assets or liabilities. The Company typically receives payment for oil, natural gas and NGL sales within 30 days of the month of delivery. The Company’s contracts for oil, natural gas and NGL sales are standard industry contracts that include variable consideration based on the monthly index price and adjustments that may include counterparty-specific provisions related to volumes, price differentials, discounts and other adjustments and deductions. Under the Company’s current gas processing contracts, it delivers natural gas to a purchaser at or near the wellhead. For these contracts, the Company has concluded the purchaser is the customer, and as such, the Company recognizes natural gas and NGLs revenues based on the net amount of proceeds it receives from the purchaser. The Company’s product types are as follows: Oil Sales . Under the Company’s oil sales contracts, the Company generally sells oil to the purchaser at or near the wellhead, and collects a contractually agreed upon index price, net of pricing and gathering and transportation differentials. The Company transfers control of the product to the purchaser at or near the wellhead and recognizes revenue based on the net price received. Natural Gas and NGL Sales . Under the Company’s natural gas sales contracts, the Company delivers and transfers control of natural gas to the purchaser at delivery points at or near the wellhead. The purchaser gathers and processes the natural gas and sells the resulting residue gas and NGLs to purchasers. The Company receives its contractual portion of the proceeds for the sale of the residue gas and NGLs at an agreed upon index price, net of pricing differentials and applicable selling expenses including gathering, processing and fractionation costs. The Company recognizes revenue at the expected net price when control transfers to the purchaser. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the variable consideration is allocated entirely to a wholly unsatisfied performance obligation, as allowed under ASC 606. Under the Company’s oil, natural gas and NGL sales contracts, each unit of product delivered to the customer represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. Disaggregation of Revenue The Company’s oil, natural gas and NGL sales revenues represent substantially all of its revenues, and are derived from the sale of oil, natural gas and NGL production within the Permian Basin. The Company believes the disaggregation of revenues into the three product types of oil sales, natural gas sales and NGL sales, as seen on the consolidated and combined statements of operations, is an appropriate level of detail for its primary activity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Standards Revenue from Contracts with Customers . In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which outlined a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most prior revenue recognition guidance, including industry-specific guidance. The Company adopted the new standard on January 1, 2018, as described above. The Company implemented the necessary changes to its business processes, systems and controls to support recognition and disclosure of this new standard. The Company’s financial statement presentation related to revenue received from certain gas sales contracts changed as a result of the new standard. Under previous guidance, proceeds from certain gas sales contracts were reported gross, with related costs for gathering and processing being presented separately as gathering and processing expense. Upon adoption of the new standard, the Company presents revenue from these contracts net of gathering and processing costs, as these costs are incurred after control of the product is transferred to the customer. The impact of the new revenue recognition standard on the Company’s current period results is as follows: Three Months Ended June 30, 2018 (in thousands) Amounts presented on statements of operations ASC 606 Adjustments Previous Revenue Recognition Method Revenues Oil sales $ 148,614 $ — $ 148,614 Natural gas sales 2,338 986 3,324 NGL sales 7,599 2,986 10,585 Other operating revenues 125 — 125 Total revenues $ 158,676 $ 3,972 $ 162,648 Operating expenses Gathering and processing expenses $ — $ 3,972 $ 3,972 Net income (loss) $ 45,081 $ — $ 45,081 Six Months Ended June 30, 2018 (in thousands) Amounts presented on statements of operations ASC 606 Adjustments Previous Revenue Recognition Method Revenues Oil sales $ 269,337 $ — $ 269,337 Natural gas sales 5,213 1,885 7,098 NGL sales 12,907 4,601 17,508 Other operating revenues 272 — 272 Total revenues $ 287,729 $ 6,486 $ 294,215 Operating expenses Gathering and processing expenses $ — $ 6,486 $ 6,486 Net income (loss) $ 5,678 $ — $ 5,678 Adoption of the new standard did not impact the Company’s previously reported results of operations or consolidated and combined cash flows statements. Stock Compensation - Scope of Modification Accounting . In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718) Scope of Modification Accounting . The ASU clarified which changes to the terms or conditions of an equity-based payment award require an entity to apply modification accounting in Topic 718. The standard became effective for the Company on January 1, 2018. The adoption of this new standard did not impact the Company’s consolidated and combined statements of operations, balance sheets or cash flows. Accounting Standards Not Yet Adopted Leases . In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires all leases with a term greater than one year to be recognized on the balance sheet as right-of-use assets and lease liabilities. ASU 2016-02 retains a distinction between finance and operating leases concerning the recognition and presentation of the expense and payments related to leases in the statements of operations and cash flows. The update does not apply to leases of mineral rights to explore for or use oil and natural gas. Under ASU 2016-02, entities are required to adopt the new standard using a modified retrospective approach and apply the provisions of ASU 2016-02 to leasing arrangements existing at or entered into after the earliest comparative period presented in the financial statements. In January 2018, the FASB issued ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842 , which permits an entity to elect an optional transition practical expedient to not evaluate land easements that exist or expire before the Company's adoption of Topic 842 and that were not previously accounted for as leases under Topic 840. In July 2018, the FASB issued ASU 2018-11, Targeted Improvements , which provides entities an optional transitional relief method whereby prior periods would not require restatement while a cumulative adjustment to retained earnings during the period of adoption would be recorded. The Company continues its evaluation of the impact of ASU 2016-02, as amended, which includes an analysis of existing contracts, including drilling rig and frac fleet contracts, office leases and certain equipment. The Company is also evaluating the effect of ASU 2016-02, as amended, on its current accounting policies, disclosures and controls. The Company intends to adopt the new standard on January 1, 2019 using the optional transitional relief method provided for in ASU 2018-11. The Company believes that adopting the standard will result in increases to the assets and liabilities on its consolidated and combined balance sheets, and changes to the timing and presentation of certain operating expenses on its consolidated and combined statements of operations. The Company continues to monitor relevant industry guidance regarding the implementation of ASU 2016-02 and will adjust its implementation strategies as necessary.

Significant Accounting Polici20

Significant Accounting Policies and Related Matters (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Schedule of Accounts Receivable	At June 30, 2018 and December 31, 2017 , accounts receivable was comprised of the following: (in thousands) June 30, 2018 December 31, 2017 Oil and gas sales $ 49,009 $ 42,869 Joint interest 17,383 7,860 Other 1,745 5 Total accounts receivable $ 68,137 $ 50,734
Property, Plant and Equipment	A summary of the Company’s oil and natural gas properties, net is as follows: (in thousands) June 30, 2018 December 31, 2017 Proved oil and natural gas properties $ 1,420,427 $ 1,012,321 Unproved oil and natural gas properties 177,745 183,510 Total oil and natural gas properties 1,598,172 1,195,831 Less: Accumulated depletion (268,398 ) (166,592 ) Total oil and natural gas properties, net $ 1,329,774 $ 1,029,239
Schedule of Accrued Liabilities	The components of accrued liabilities are shown below: (in thousands) June 30, 2018 December 31, 2017 Accrued capital expenditures $ 89,756 $ 102,956 Accrued accounts payable 7,144 8,488 Royalties payable 8,596 6,105 Accrued LOE 7,827 5,736 Other current liabilities 13,468 9,026 Total accrued liabilities $ 126,791 $ 132,311
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The impact of the new revenue recognition standard on the Company’s current period results is as follows: Three Months Ended June 30, 2018 (in thousands) Amounts presented on statements of operations ASC 606 Adjustments Previous Revenue Recognition Method Revenues Oil sales $ 148,614 $ — $ 148,614 Natural gas sales 2,338 986 3,324 NGL sales 7,599 2,986 10,585 Other operating revenues 125 — 125 Total revenues $ 158,676 $ 3,972 $ 162,648 Operating expenses Gathering and processing expenses $ — $ 3,972 $ 3,972 Net income (loss) $ 45,081 $ — $ 45,081 Six Months Ended June 30, 2018 (in thousands) Amounts presented on statements of operations ASC 606 Adjustments Previous Revenue Recognition Method Revenues Oil sales $ 269,337 $ — $ 269,337 Natural gas sales 5,213 1,885 7,098 NGL sales 12,907 4,601 17,508 Other operating revenues 272 — 272 Total revenues $ 287,729 $ 6,486 $ 294,215 Operating expenses Gathering and processing expenses $ — $ 6,486 $ 6,486 Net income (loss) $ 5,678 $ — $ 5,678

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the Company’s derivative contracts as of June 30, 2018 : Contract Period Volumes Wtd Avg Price Oil Swaps: (1) Third quarter 2018 1,803,200 $ 55.39 Fourth quarter 2018 1,789,400 $ 55.66 Total 2018 3,592,600 $ 55.52 Year ending December 31, 2019 4,015,000 $ 55.48 Year ending December 31, 2020 732,000 $ 59.17 Oil Basis Swaps: (2) Third quarter 2018 1,610,000 $ (2.27 ) Fourth quarter 2018 1,610,000 $ (2.27 ) Total 2018 3,220,000 $ (2.27 ) Year ending December 31, 2019 3,285,000 $ (1.88 ) Year ending December 31, 2020 3,294,000 $ (1.08 ) (1) The index prices for the oil swaps are based on the NYMEX–WTI monthly average futures price. (2) The oil basis swap differential price is between Cushing–WTI and Midland–WTI. Subsequent to June 30, 2018 , the Company entered into the following additional derivative contracts: Contract Period Volumes Wtd Avg Price Oil Swaps: (1) Year ending December 31, 2019 3,650,000 $ 64.88 Year ending December 31, 2020 2,196,000 $ 61.37 Oil Basis Swaps: (2) Year ending December 31, 2019 5,478,000 $ (8.34 ) Year ending December 31, 2020 6,222,000 $ (1.43 ) (1) The index prices for the oil swaps are based on the NYMEX–WTI monthly average futures price. (2) The oil basis swap differential price is between Cushing–WTI and Midland–WTI.
Derivative Instruments, Gain (Loss)	The Company recognized the following gains (losses) and net cash receipts (payments) in earnings for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Gain (loss) on derivative instruments, net $ (9,584 ) $ 26,573 $ (13,910 ) $ 43,615 Net cash receipts (payments) on settled derivatives $ (11,879 ) $ 1,567 $ (27,358 ) $ 496
Schedule of Derivative Instruments by Balance Sheet Location	The following tables present the amounts and classifications of the Company’s commodity contract derivative assets and liabilities as of June 30, 2018 and December 31, 2017 (in thousands): As of June 30, 2018: Balance Sheet Location Gross amounts presented on the balance sheet Netting adjustments not offset on the balance sheet Net amounts Assets Commodity contracts Current assets - derivative instruments $ 48,129 $ (28,302 ) $ 19,827 Commodity contracts Noncurrent assets - derivative instruments 5,178 (5,178 ) — Total assets $ 53,307 $ (33,480 ) $ 19,827 Liabilities Commodity contracts Current liabilities - derivative instruments $ 75,117 $ (28,302 ) $ 46,815 Commodity contracts Noncurrent liabilities - derivative instruments 17,593 (5,178 ) 12,415 Total liabilities $ 92,710 $ (33,480 ) $ 59,230 As of December 31, 2017: Balance Sheet Location Gross amounts presented on the balance sheet Netting adjustments not offset on the balance sheet Net amounts Assets Commodity contracts Current assets - derivative instruments $ — $ — $ — Commodity contracts Noncurrent assets - derivative instruments 26 (26 ) — Total assets $ 26 $ (26 ) $ — Liabilities Commodity contracts Current liabilities - derivative instruments $ 41,782 $ — $ 41,782 Commodity contracts Noncurrent liabilities - derivative instruments 11,095 (26 ) 11,069 Total liabilities $ 52,877 $ (26 ) $ 52,851

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s debt consisted of the following at June 30, 2018 and December 31, 2017 : (in thousands) June 30, 2018 December 31, 2017 Senior secured revolving credit facility $ — $ 155,000 5.875% senior unsecured notes due 2026 500,000 — Debt issuance costs on senior unsecured notes (11,094 ) — Total long-term debt $ 488,906 $ 155,000
Summary of Covenant Compliance	The covenants, as defined in the Amended and Restated Credit Facility, include requirements to comply with the following financial ratios: Financial Covenant Required Ratio Ratio of current assets to liabilities, as defined in the credit agreement Not less than 1.0 to 1.0 Ratio of debt to EBITDAX, as defined in the credit agreement Not greater than 4.0 to 1.0

Equity-based Compensation (Tabl

Equity-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	Equity-based compensation expense, which is recorded in general and administrative expense in the accompanying consolidated and combined statements of operations, was as follows for each type of equity-based compensation award for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Incentive unit awards $ 559 $ 9,929 $ 75,158 $ 418,893 Restricted stock unit awards 794 377 2,113 377 Performance stock unit awards 892 339 497 339 Restricted stock unit awards issued to nonemployee directors 134 130 289 130 Total equity-based compensation expense $ 2,379 $ 10,775 $ 78,057 $ 419,739
Schedule of Share-based Compensation, Incentive Units, Activity	The following table summarizes the Company’s incentive unit award, restricted stock unit (“RSU”) award and PSU award activity for the six months ended June 30, 2018 : Incentive Units (2) Restricted Stock Units (3) Performance Stock Units Unvested at December 31, 2017 7,755,745 582,973 398,566 Awards Granted (1) 406,173 588,118 546,319 Vested (2,789,511 ) (264,130 ) — Forfeited (73,307 ) (125,854 ) (253,522 ) Unvested at June 30, 2018 5,299,100 781,107 691,363 (1) Weighted average grant-date fair value $ 13.40 $ 12.70 $ 16.23 (2) Included in the unvested incentive units at June 30, 2018 are 4,809,666 units for which equity-based compensation expense was accelerated and fully recognized in February 2018. See the discussion above for additional information. (3) Of the 588,118 RSUs granted during 2018 , nonemployee directors received 30,753 at a weighted average grant-date fair value of $13.17 . The following table reflects the future equity-based compensation expense to be recorded for each type of award that was outstanding at June 30, 2018 : Incentive Units Restricted Stock Units (1) Performance Stock Units Compensation costs remaining at June 30, 2018 (in millions) $ 5.8 $ 8.7 $ 9.2 Weighted average remaining period at June 30, 2018 (in years) 2.6 2.4 2.4 (1) The remaining compensation costs at June 30, 2018 for the nonemployee director RSUs was $0.4 million , with a weighted average remaining period of 0.9 years.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	A reconciliation of the components of basic and diluted earnings per common share is presented in the table below: Three Months Ended June 30, Six Months Ended From January 27, 2017, to (in thousands, except per share amounts) 2018 2017 June 30, 2018 June 30, 2017 Net income (loss) attributable to Jagged Peak Energy Inc. stockholders $ 45,081 $ 16,403 $ 5,678 $ (74,002 ) Basic weighted average shares outstanding 213,142 212,932 213,073 212,934 Dilutive restricted stock units 115 — 96 — Dilutive performance stock units 5 119 — — Diluted weighted average shares outstanding 213,262 213,051 213,169 212,934 Net income (loss) per common share: Basic $ 0.21 $ 0.08 $ 0.03 $ (0.35 ) Diluted $ 0.21 $ 0.08 $ 0.03 $ (0.35 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the weighted average number of outstanding equity awards that have been excluded from the computation of diluted earnings per common share as their inclusion would be anti-dilutive: Three Months Ended June 30, Six Months Ended From January 27, 2017, to (in thousands) 2018 2017 June 30, 2018 June 30, 2017 Number of antidilutive units: (1) Antidilutive restricted stock units 121 65 342 231 Antidilutive performance stock units 1 — 165 267 (1) When the Company incurs a net loss, all outstanding equity awards are excluded from the calculation of diluted loss per common share because the inclusion of these awards would be anti-dilutive.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Income tax expense was as follows for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Income tax expense $ 12,408 $ 14,269 $ 22,052 $ 103,637 Effective tax rate 21.6 % 46.5 % 79.5 % (30.0 )%

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2018
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Change in Asset Retirement Obligation	The following table summarizes the changes in the carrying amount of the asset retirement obligations for the six months ended June 30, 2018 . The current portion of the asset retirement obligation liability is included in accrued liabilities on the consolidated and combined balance sheets. (in thousands) Asset retirement obligations at January 1, 2018 $ 929 Liabilities incurred and assumed 392 Liability settlements and disposals (26 ) Revisions of estimated liabilities 35 Accretion 56 Asset retirement obligations at June 30, 2018 1,386 Less current portion of asset retirement obligations (109 ) Long-term asset retirement obligations $ 1,277

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis: Level 2 (in thousands) June 30, 2018 December 31, 2017 Assets from commodity derivative contracts $ 53,307 $ 26 Liabilities due to commodity derivative contracts $ 92,710 $ 52,877
Fair Value, Estimate Not Practicable	The following table provides the fair value of financial instruments that are not recorded at fair value in the consolidated and combined balance sheets: June 30, 2018 December 31, 2017 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt: Senior secured revolving credit facility $ — $ — $ 155,000 $ 155,000 5.875% senior unsecured notes due 2026 $ 500,000 $ 492,970 $ — $ —
Fair Value, Noncash Impairments	The following table sets forth the noncash impairments of both proved and unproved properties for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Proved oil and natural gas property impairments $ — $ — $ — $ — Unproved oil and natural gas property impairments (1) — 101 53 108 $ — $ 101 $ 53 $ 108 (1) The impairments of unproved oil and natural gas properties resulted from expirations of certain undeveloped leases.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes fees paid to Oryx, Phoenix and Trident for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Oryx via 3rd party shipper (1) $ 5,550 $ 2,379 $ 10,284 $ 3,798 Oryx (2) $ 85 $ 303 $ 300 $ 652 Phoenix (3) $ 112 $ 117 $ 221 $ 202 Trident (3) $ — $ — $ — $ 236 (1) Fees paid by the Company’s third-party shipper to Oryx pursuant to the crude oil transportation and gathering agreement are netted against revenue as they are included in the net price paid by to the third-party shipper. (2) Fees paid to Oryx for the purchase and installation of metering equipment are capitalized to proved properties on the consolidated and combined balance sheets. (3) Fees paid to Phoenix and Trident are capitalized to proved properties on the consolidated and combined balance sheets.

Organization, Operations and 29

Organization, Operations and Basis of Presentation (Details) $ / shares in Units, $ in Millions	Jan. 27, 2017USD ($)$ / sharesshares
IPO
Debt Instrument [Line Items]
Stock issued (in shares)	31,599,334
Share price (in dollars per share) | $ / shares	$ 15
IPO Sold by Stockholders
Debt Instrument [Line Items]
Stock issued (in shares)	3,266,000
IPO Sold By Company
Debt Instrument [Line Items]
Net proceeds | $	$ 397

Significant Accounting Polici30

Significant Accounting Policies and Related Matters - Schedule of Accounts Receivable (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 68,137,000	$ 50,734,000
Reserve for doubtful accounts	0	0
Oil and gas sales
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	49,009,000	42,869,000
Joint interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	17,383,000	7,860,000
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 1,745,000	$ 5,000

Significant Accounting Polici31

Significant Accounting Policies and Related Matters - Oil and Natural Gas Properties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Accounting Policies [Abstract]
Proved oil and natural gas properties	$ 1,420,427		$ 1,420,427		$ 1,012,321
Unproved oil and natural gas properties	177,745		177,745		183,510
Total oil and natural gas properties	1,598,172		1,598,172		1,195,831
Less: Accumulated depletion	(268,398)		(268,398)		(166,592)
Total oil and gas properties, net	1,329,774		1,329,774		$ 1,029,239
Depletion for oil and natural gas properties	$ 54,400	$ 21,900	$ 101,800	$ 35,500

Significant Accounting Polici32

Significant Accounting Policies and Related Matters - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Accrued capital expenditures	$ 89,756	$ 102,956
Accrued accounts payable	7,144	8,488
Royalties payable	8,596	6,105
Accrued LOE	7,827	5,736
Other current liabilities	13,468	9,026
Total accrued liabilities	$ 126,791	$ 132,311

Significant Accounting Polici33

Significant Accounting Policies and Related Matters - Schedule of New Accounting Pronouncements and Changes in Accounting Principles (Details) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues [Abstract]
Oil sales	$ 148,614	$ 48,388		$ 269,337	$ 85,153
Natural gas sales	2,338	1,841		5,213	2,758
NGL sales	7,599	2,663		12,907	4,181
Other operating revenues	125	159		272	347
Total revenues	158,676	53,051		287,729	92,439
Operating Expenses [Abstract]
Gathering and processing expenses	0	655		0	1,047
Net income (loss)	45,081	$ 16,403	$ (74,002)	5,678	$ (449,478)
ASC 606 Adjustments | Accounting Standards Update 2014-09
Revenues [Abstract]
Oil sales	0			0
Natural gas sales	986			1,885
NGL sales	2,986			4,601
Other operating revenues	0			0
Total revenues	3,972			6,486
Operating Expenses [Abstract]
Gathering and processing expenses	3,972			6,486
Net income (loss)	0			0
Previous Revenue Recognition Method
Revenues [Abstract]
Oil sales	148,614			269,337
Natural gas sales	3,324			7,098
NGL sales	10,585			17,508
Other operating revenues	125			272
Total revenues	162,648			294,215
Operating Expenses [Abstract]
Gathering and processing expenses	3,972			6,486
Net income (loss)	$ 45,081			$ 5,678

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivatives (Details) - Not Designated as Hedging Instrument	Aug. 09, 2018$ / bblbbl	Jun. 30, 2018$ / bblbbl	Dec. 31, 2017bbl
Third quarter 2018
Derivative [Line Items]
Volumes (Bbls) | bbl		1,803,200
Wtd Avg Price ($/Bbl) | $ / bbl		55.39
Fourth quarter 2018
Derivative [Line Items]
Volumes (Bbls) | bbl		1,789,400
Wtd Avg Price ($/Bbl) | $ / bbl		55.66
Total 2,018
Derivative [Line Items]
Volumes (Bbls) | bbl		3,592,600
Wtd Avg Price ($/Bbl) | $ / bbl		55.52
Year ending December 31, 2019
Derivative [Line Items]
Volumes (Bbls) | bbl		4,015,000
Wtd Avg Price ($/Bbl) | $ / bbl		55.48
Year ending December 31, 2020
Derivative [Line Items]
Volumes (Bbls) | bbl			732,000
Wtd Avg Price ($/Bbl) | $ / bbl		59.17
Third quarter 2018
Derivative [Line Items]
Volumes (Bbls) | bbl		1,610,000
Wtd Avg Price ($/Bbl) | $ / bbl		2.27
Fourth quarter 2018
Derivative [Line Items]
Volumes (Bbls) | bbl		1,610,000
Wtd Avg Price ($/Bbl) | $ / bbl		2.27
Total 2,018
Derivative [Line Items]
Volumes (Bbls) | bbl		3,220,000
Wtd Avg Price ($/Bbl) | $ / bbl		2.27
Year ending December 31, 2019
Derivative [Line Items]
Volumes (Bbls) | bbl		3,285,000
Wtd Avg Price ($/Bbl) | $ / bbl		1.88
Year ending December 31, 2020
Derivative [Line Items]
Volumes (Bbls) | bbl			3,294,000
Wtd Avg Price ($/Bbl) | $ / bbl		1.08
Subsequent Event | Year ending December 31, 2019
Derivative [Line Items]
Volumes (Bbls) | bbl	3,650,000
Wtd Avg Price ($/Bbl) | $ / bbl	64.88
Subsequent Event | Year ending December 31, 2020
Derivative [Line Items]
Volumes (Bbls) | bbl	2,196,000
Wtd Avg Price ($/Bbl) | $ / bbl	61.37
Subsequent Event | Year ending December 31, 2019
Derivative [Line Items]
Volumes (Bbls) | bbl	5,478,000
Wtd Avg Price ($/Bbl) | $ / bbl	8.34
Subsequent Event | Year ending December 31, 2020
Derivative [Line Items]
Volumes (Bbls) | bbl	6,222,000
Wtd Avg Price ($/Bbl) | $ / bbl	1.43

Derivative Instruments - Gains

Derivative Instruments - Gains (Losses) in Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (loss) on derivative instruments, net	$ (9,584)	$ 26,573	$ (13,910)	$ 43,615
Net cash receipts (payments) on settled derivatives	$ (11,879)	$ 1,567	$ (27,358)	$ 496

Derivative Instruments - Balanc

Derivative Instruments - Balance Sheet Location (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Gross amounts presented on the balance sheet, assets	$ 53,307	$ 26
Netting adjustments not offset on the balance sheet, assets	(33,480)	(26)
Assets from commodity derivative contracts, assets	19,827	0
Gross amounts presented on the balance sheet, liabilities	92,710	52,877
Netting adjustments not offset on the balance sheet, liabilities	(33,480)	(26)
Liabilities from commodity derivative contracts, liabilities	59,230	52,851
Commodity contracts | Current assets - derivative instruments
Derivatives, Fair Value [Line Items]
Gross amounts presented on the balance sheet, assets	48,129	0
Netting adjustments not offset on the balance sheet, assets	(28,302)	0
Assets from commodity derivative contracts, assets	19,827	0
Commodity contracts | Noncurrent assets - derivative instruments
Derivatives, Fair Value [Line Items]
Gross amounts presented on the balance sheet, assets	5,178	26
Netting adjustments not offset on the balance sheet, assets	(5,178)	(26)
Assets from commodity derivative contracts, assets	0	0
Commodity contracts | Current liabilities - derivative instruments
Derivatives, Fair Value [Line Items]
Gross amounts presented on the balance sheet, liabilities	75,117	41,782
Netting adjustments not offset on the balance sheet, liabilities	(28,302)	0
Liabilities from commodity derivative contracts, liabilities	46,815	41,782
Commodity contracts | Noncurrent liabilities - derivative instruments
Derivatives, Fair Value [Line Items]
Gross amounts presented on the balance sheet, liabilities	17,593	11,095
Netting adjustments not offset on the balance sheet, liabilities	(5,178)	(26)
Liabilities from commodity derivative contracts, liabilities	$ 12,415	$ 11,069

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details)	Jun. 30, 2018counterparty
Commodity contracts
Derivative [Line Items]
Number of counterparties	6

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt	$ 488,906	$ 155,000
Debt issuance costs on senior unsecured notes	(11,094)	0
Total long-term debt	488,906	155,000
Senior Notes | Senior Unsecured Notes due 2026
Debt Instrument [Line Items]
Long-term debt	500,000	0
Total long-term debt	500,000	0
Revolving Credit Facility | Amended and Restated Credit Facility
Debt Instrument [Line Items]
Long-term debt	0	155,000
Total long-term debt	$ 0	$ 155,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	May 08, 2018	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2018	Jun. 30, 2017	Aug. 09, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Repayments of debt				$ 320,000,000	$ 142,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Forecasted production, percent hedged (up to)		85.00%
Proved reserves, percent hedged (up to)		75.00%
Reasonably anticipated forecasted production, percent hedged (up to)		60.00%
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Duration of reasonably anticipated future production that can be hedged (in months)		37 months
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Duration of future production that can be hedged (in months)		36 months
Duration of reasonably anticipated future production that can be hedged (in months)		60 months
Production hedge term (in years)		5 years
Revolving Credit Facility | Amended and Restated Credit Facility
Debt Instrument [Line Items]
Balance outstanding							$ 155,000,000
Elected commitment amount	$ 475,000,000
Repayments of debt	$ 320,000,000
Revolving Credit Facility | Amended and Restated Credit Facility, Amendment No. 2
Debt Instrument [Line Items]
Current borrowing capacity		$ 540,000,000		$ 540,000,000
Revolving Credit Facility | Amended and Restated Credit Facility, Amendment No. 2 | Minimum
Debt Instrument [Line Items]
Commitment fee			0.375%
Revolving Credit Facility | Amended and Restated Credit Facility, Amendment No. 2 | Maximum
Debt Instrument [Line Items]
Commitment fee			0.50%
Revolving Credit Facility | Amended and Restated Credit Facility, Amendment No. 2 | Federal Funds Effective Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
Revolving Credit Facility | Amended and Restated Credit Facility, Amendment No. 2 | Federal Funds Effective Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
Revolving Credit Facility | Amended and Restated Credit Facility, Amendment No. 2 | Federal Funds Effective Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			1.50%
Revolving Credit Facility | Amended and Restated Credit Facility, Amendment No. 2 | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Revolving Credit Facility | Amended and Restated Credit Facility, Amendment No. 2 | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			1.50%
Revolving Credit Facility | Amended and Restated Credit Facility, Amendment No. 2 | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			2.50%
Senior Notes | Senior Unsecured Notes due 2026
Debt Instrument [Line Items]
Interest rate	5.875%
Face amount of debt	$ 500,000,000
Proceeds from debt issuance	$ 488,700,000
Interest rate increase (up to)	1.00%
Redemption price percent	101.00%
Jagged Peak Energy LLC (JPE LLC) | Revolving Credit Facility | The Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity							$ 425,000,000
Subsequent Event | Revolving Credit Facility | Amended and Restated Credit Facility
Debt Instrument [Line Items]
Elected commitment amount						$ 540,000,000
Subsequent Event | Revolving Credit Facility | Amended and Restated Credit Facility, Amendment No. 2
Debt Instrument [Line Items]
Current borrowing capacity						$ 825,000,000

Debt - Summary Of Covenant Comp

Debt - Summary Of Covenant Compliance (Details) - Amended and Restated Credit Facility - Revolving Credit Facility	1 Months Ended
	Mar. 31, 2018
Line of Credit Facility [Line Items]
Ratio of current assets to liabilities, as defined in the credit agreement (not less than)	1
Ratio of debt to EBITDAX, as defined in the credit agreement (not greater than)	4

Equity-based Compensation - Sha

Equity-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total equity-based compensation expense		$ 2,379	$ 10,775	$ 78,057	$ 419,739
Incentive unit awards
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total equity-based compensation expense	$ 14,700	559	9,929	75,158	418,893
Restricted stock unit awards
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total equity-based compensation expense		794	377	2,113	377
Performance stock unit awards
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total equity-based compensation expense		892	339	497	339
Restricted stock unit awards issued to nonemployee directors
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total equity-based compensation expense		$ 134	$ 130	$ 289	$ 130

Equity-based Compensation - Add

Equity-based Compensation - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended		6 Months Ended
	Mar. 31, 2017	Jan. 26, 2017	Apr. 30, 2016	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense				$ 2,379	$ 10,775	$ 78,057	$ 419,739
Profit Interest Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense			$ 14,700	$ 559	$ 9,929	75,158	$ 418,893
Management Holdco | Profit Interest Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense		$ 379,000
Compensation modification						$ 71,300
Unallocated shares held (in shares)				98,455		98,455
Management Holdco | Incentive unit awards, former executive officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation modification	$ 22,200

Equity-based Compensation - Sto

Equity-based Compensation - Stock Units Activity (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)$ / sharesshares
Incentive unit awards
Units
Unvested beginning balance (in shares)	7,755,745
Granted (in shares)	406,173
Vested (in shares)	(2,789,511)
Forfeited (in shares)	(73,307)
Unvested ending balance (in shares)	5,299,100
Weighted average grant-date fair value (in shares) | $ / shares	$ 13.40
Compensation costs remaining | $	$ 5.8
Weighted average remaining period	2 years 7 months 6 days
Restricted stock unit awards
Units
Unvested beginning balance (in shares)	582,973
Granted (in shares)	588,118
Vested (in shares)	(264,130)
Forfeited (in shares)	(125,854)
Unvested ending balance (in shares)	781,107
Weighted average grant-date fair value (in shares) | $ / shares	$ 12.70
Compensation costs remaining | $	$ 8.7
Weighted average remaining period	2 years 4 months 24 days
Performance Stock Units
Units
Unvested beginning balance (in shares)	398,566
Granted (in shares)	546,319
Vested (in shares)	0
Forfeited (in shares)	(253,522)
Unvested ending balance (in shares)	691,363
Weighted average grant-date fair value (in shares) | $ / shares	$ 16.23
Compensation costs remaining | $	$ 9.2
Weighted average remaining period	2 years 4 months 24 days
Incentive Unit Awards Fully Expensed
Units
Unvested ending balance (in shares)	4,809,666
Nonemployee Director | Restricted stock unit awards
Units
Granted (in shares)	30,753
Weighted average grant-date fair value (in shares) | $ / shares	$ 13.17
Compensation costs remaining | $	$ 0.4
Weighted average remaining period	10 months 24 days

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Line Items]
Net income (loss) attributable to Jagged Peak Energy Inc. stockholders	$ 45,081	$ 16,403	$ (74,002)	$ 5,678	$ (449,478)
Basic weighted average shares outstanding (in shares)	213,142	212,932	212,934	213,073	212,934
Diluted weighted average shares outstanding (in shares)	213,262	213,051	212,934	213,169	212,934
Net income (loss) per common share:
Basic (in dollars per share)	$ 0.21	$ 0.08	$ (0.35)	$ 0.03	$ (0.35)
Diluted (in dollars per share)	$ 0.21	$ 0.08	$ (0.35)	$ 0.03	$ (0.35)
Restricted stock unit awards
Earnings Per Share [Line Items]
Dilutive units (in shares)	115	0	0	96
Performance stock unit awards
Earnings Per Share [Line Items]
Dilutive units (in shares)	5	119	0	0

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2018
Restricted stock unit awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average number of outstanding equity awards excluded from diluted earnings per share calculation (in shares)	121	65	231	342
Performance stock unit awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average number of outstanding equity awards excluded from diluted earnings per share calculation (in shares)	1	0	267	165

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Deferred income taxes		$ 79.1
Federal statutory rate	21.00%	35.00%

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 12,408	$ 14,269	$ 22,052	$ 103,637
Effective tax rate	21.60%	46.50%	79.50%	(30.00%)

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligation, beginning balance	$ 929
Liabilities incurred and assumed	392
Liability settlements and disposals	(26)
Revisions of estimated liabilities	35
Accretion	56
Asset retirement obligation, ending balance	1,386
Less current portion of asset retirement obligations	(109)
Long-term asset retirement obligations	$ 1,277	$ 811

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
5.875% senior unsecured notes due 2026	$ 488,906,000		$ 488,906,000		$ 155,000,000
Assets from commodity derivative contracts	53,307,000		53,307,000		26,000
Liabilities due to commodity derivative contracts	92,710,000		92,710,000		52,877,000
Proved property impairment		$ 0
Impairment of unproved oil and gas properties	0	101,000	53,000	$ 108,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proved property impairment	0	0	0	0
Impairment of unproved oil and gas properties	0	$ 101,000	53,000	$ 108,000
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets from commodity derivative contracts	53,307,000		53,307,000		26,000
Liabilities due to commodity derivative contracts	92,710,000		92,710,000		52,877,000
Amended and Restated Credit Facility | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior secured revolving credit facility					155,000,000
Lines of credit, fair value	0		0		155,000,000
5.875% senior unsecured notes due 2026	0		0		155,000,000
Senior Notes | Senior Unsecured Notes due 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
5.875% senior unsecured notes due 2026	500,000,000		500,000,000		0
Notes payable, fair value	$ 492,970,000		$ 492,970,000		$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Outstanding payables	$ 2,200		$ 2,200		$ 1,800
Phoenix Lease Services, LLC
Related Party Transaction [Line Items]
Fees paid to related party	112	$ 117	221	$ 202
Trident Water Services, LLC
Related Party Transaction [Line Items]
Fees paid to related party	0	0	0	236
Oil Gathering Agreement | Oryx Midstream Services, LLC
Related Party Transaction [Line Items]
Fees paid to related party	5,550	2,379	10,284	3,798
Leasing Of Equipment | Oryx Midstream Services, LLC
Related Party Transaction [Line Items]
Fees paid to related party	$ 85	$ 303	$ 300	$ 652