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DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Non-Cash Gains or Losses on Derivative Contracts
The following table presents settlements on commodity derivative instruments and unsettled gains and losses on open commodity derivative instruments for the periods presented which is recorded in the revenue section of our financial statements:

 Year ended December 31,
(In thousands)202320222021
Cash Received (Paid) on Settled Derivatives $57,919 $(455,450)$(165,823)
Non-Cash Mark-to-Market Gain (Loss) on Derivatives 201,331 40,187 (312,370)
Gain (Loss) on Commodity Derivatives, Net$259,250 $(415,262)$(478,193)
Schedule of Weighted Average Price of Open Commodity Derivative Contracts
The following table summarizes open commodity derivative positions as of December 31, 2023, for commodity derivatives that were entered into through December 31, 2023, for the settlement period presented:
2024202520262027
Oil:
WTI NYMEX - Swaps:
Volume (Bbl)7,958,865 2,223,187 1,069,557 — 
Weighted-Average Price ($/Bbl)$74.13 $71.91 $68.94 $— 
WTI NYMEX - Swaptions(1)(2):
Volume (Bbl)— 1,426,075 3,052,495 — 
Weighted-Average Price ($/Bbl)$— $66.41 $65.01 $— 
WTI NYMEX - Call Options(1)(2):
Volume (Bbl)1,806,210 5,096,640 3,102,500 2,190,000 
Weighted-Average Price ($/Bbl)$71.57 $75.96 $72.59 $80.00 
WTI NYMEX - Put Options:
Volume (Bbl)136,500 — — — 
Weighted-Average Price ($/Bbl)$75.00 $— $— $— 
WTI NYMEX - Collars:
Collar Put Volume (Bbl)5,470,001 811,539 159,342 — 
Collar Call Volume (Bbl)7,089,089 1,129,962 175,307 
Weighted-average floor price (Bbl)$69.83 $67.76 $62.50 $— 
Weighted-average ceiling price (Bbl)$83.31 $77.16 $70.25 $— 
Argus American Crude WTI Midland to WTI NYMEX - Basis Swaps:
Volume (Bbl)6,211,786 4,106,276 2,094,291 — 
Weighted-Average Differential ($/Bbl)$1.15 $1.04 $1.06 $— 
Natural Gas:
Henry Hub NYMEX - Swaps:
Volume (MMBtu)38,440,787 2,260,000 — — 
Weighted-Average Price ($/MMBtu)$3.52 $3.90 $— $— 
Henry Hub NYMEX - Swaptions:
Volume (MMBtu)— 7,300,000 — — 
Weighted-Average Price ($/MMBtu)$— $3.88 $— $— 
Waha Swaps:
Volume (MMBtu)1,830,000 1,825,000 1,825,000 — 
Weighted-Average Price ($/MMBtu)$3.20 $3.20 $3.20 $— 
Waha Inside FERC to Henry Hub - Basis Swaps:
Volume (MMBtu)19,032,000 16,728,000 10,950,000 — 
Weighted-Average Differential ($/MMBtu)$(0.80)$(0.86)$(0.78)$— 
Henry Hub NYMEX - Call Options:
Volume (MMBtu)6,158,050 12,207,700 — — 
Weighted-Average Price ($/MMBtu)$3.85 $3.73 $— $— 
Henry Hub NYMEX - Collars:
Collar Put Volume (MMBtu)21,644,086 26,694,006 15,192,303 — 
Collar Call Volume (MMBtu)21,644,086 26,694,006 15,192,303 — 
Weighted-average floor price ($/MMBtu)$3.12 $3.16 $3.13 $— 
Weighted-average ceiling price ($/MMBtu)$4.91 $5.37 $5.66 $— 
NE - TETCO M2 - Basis Swaps:
Volume (MMBtu)15,550,000 3,650,000 1,825,000 — 
Weighted-Average Differential ($/MMBtu)$(0.99)$(1.01)$(1.14)$— 
______________
(1)Swaptions are derivative contracts that give counterparties the option to extend certain derivative contracts for additional periods. Call Options are derivative contracts sold by the Company that give counterparties the option to exercise certain derivative contracts. The volumes and prices reflected as Swaptions and Call Options in this table will only be effective if the options are exercised by the applicable counterparties.
(2)In 2028, NOG has 366,000 Bbl open call option contracts at a weighted average price of $80.00 per Bbl.
Schedule of Classification of Outstanding Financial Instruments
The following table sets forth the amounts, on a gross basis, and classification of the Company’s outstanding derivative financial instruments at December 31, 2023 and 2022, respectively.  Certain amounts may be presented on a net basis in the financial statements when such amounts are with the same counterparty and subject to a master netting arrangement:

(In thousands)December 31,
Estimated Fair Value
Type of CommodityBalance Sheet Location20232022
Derivative Assets:
Commodity Price Swap ContractsCurrent Assets$61,323 $30,513 
Commodity Basis Swap ContractsCurrent Assets4,487 5,620 
Commodity Price Collar ContractsCurrent Assets36,619 40,652 
Commodity Price Call Option ContractsCurrent Assets17,964 — 
Commodity Price Put Option ContractsCurrent Assets664 — 
Interest Rate Swap ContractsCurrent Assets— 1,017 
Commodity Price Swap ContractsNoncurrent Assets16,621 11,490 
Commodity Basis Swap ContractsNoncurrent Assets1,874 547 
Commodity Price Collar ContractsNoncurrent Assets26,841 29,538 
Commodity Price Call Option ContractsNoncurrent Assets3,635 — 
Total Derivative Assets$170,029 $119,377 
Derivative Liabilities:
Commodity Price Swap ContractsCurrent Liabilities$(8,079)$(53,386)
Commodity Basis Swap ContractsCurrent Liabilities(6,796)(4,407)
Commodity Price Swaptions ContractsCurrent Liabilities(1,496)— 
Commodity Price Collar ContractsCurrent Liabilities(14,370)(29,218)
Commodity Price Call Option ContractsCurrent Liabilities(31,380)(13,916)
Commodity Price Swap ContractsNoncurrent Liabilities(2,288)(8,343)
Commodity Basis Swap ContractsNoncurrent Liabilities(8,922)(3,071)
Commodity Price Collar ContractsNoncurrent Liabilities(18,849)(33,210)
Commodity Price Call Option ContractsNoncurrent Liabilities(78,123)(132,794)
Commodity Price Swaptions ContractsNoncurrent Liabilities (35,896)(77,515)
Total Derivative Liabilities$(206,198)$(355,860)
 The amounts presented exclude derivative settlement receivables and payables as of the balance sheet dates.
 Estimated Fair Value at December 31, 2023
(In thousands)Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the
Balance Sheet		Net Amounts of Assets (Liabilities) Presented in the Balance Sheet
Offsetting of Derivative Assets:
Current Assets$121,057 $(45,324)$75,733 
Non-Current Assets48,971 (38,246)10,725 
Total Derivative Assets$170,029 $(83,570)$86,459 
Offsetting of Derivative Liabilities: 
Current Liabilities$(62,120)$45,324 $(16,797)
Non-Current Liabilities(144,077)38,246 (105,831)
Total Derivative Liabilities$(206,198)$83,570 $(122,628)

 Estimated Fair Value at December 31, 2022
(In thousands)Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the
Balance Sheet		Net Amounts of Assets (Liabilities) Presented in the Balance Sheet
Offsetting of Derivative Assets:
Current Assets$77,802 $(42,509)$35,293 
Non-Current Assets41,575 (29,028)12,547 
Total Derivative Assets$119,377 $(71,537)$47,840 
Offsetting of Derivative Liabilities: 
Current Liabilities$(100,927)$42,509 $(58,418)
Non-Current Liabilities(254,933)29,028 (225,905)
Total Derivative Liabilities$(355,860)$71,537 $(284,324)