DERIVATIVE AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2022

DERIVATIVE AND HEDGING ACTIVITIES

Summary of location and fair value of derivative contracts

The following table summarizes the location and fair value amounts of all derivative contracts in the consolidated balance sheets as of December 31, 2022 and 2021 (in thousands):

	Years Ended December 31,					Years Ended December 31,
Balance sheet location	2022		2021		Balance sheet location	2022		2021
Current assets	$	16,244	$	1,383	Current liabilities	$	(29,286)	$	(58,322)
Other noncurrent assets		5,379		2,515	Other noncurrent liabilities		(33,649)		(7,144)
	$	21,623	$	3,898		$	(62,935)	$	(65,466)

Summary of the location and amounts of the Company's realized and unrealized gains and losses on derivative contracts

The following table summarizes the location and amounts of the Company’s realized and unrealized gains and losses on derivative contracts in the Company’s consolidated statements of operations (in thousands):

	Location of gain or (loss)
	on derivative contracts on	Years Ended December 31,
Type	Statement of Operations	2022		2021
Commodity contracts:
Unrealized gain (loss)	Other income (expenses)	$	20,256	$	(47,721)
Realized gain (loss)	Other income (expenses)		(130,262)		(77,898)
Total net gain (loss)		$	(110,006)	$	(125,619)

Schedule of open derivative contracts

Instrument		2023		2024		2025		2026
Crude oil:
Fixed-price swap:
Total volumes (Bbls)		2,430,183		1,812,285		1,172,171		711,741
Weighted average price	$	69.17	$	63.75	$	60.88	$	64.19
Basis swap:
Total volumes (Bbls)		2,586,562		1,810,056		1,172,171		711,741
Weighted average price	$	0.40	$	0.27	$	0.16	$	0.09
WTI NYMEX roll:
Total volumes (Bbls)		2,490,458		1,733,719		1,172,171		711,741
Weighted average price	$	0.58	$	0.30	$	0.13	$	0.18
Natural gas:
Fixed-price swap:
Total volumes (MMBtu)		5,236,373		4,271,034		3,451,713		1,829,816
Weighted average price	$	3.75	$	3.54	$	3.33	$	4.03
Two-way collar:
Total volumes (MMBtu)		2,545,828		2,167,139		1,052,153		895,562
Weighted average price (call)	$	6.19	$	5.17	$	5.05	$	4.86
Weighted average price (put)	$	4.50	$	3.74	$	3.72	$	4.03
Basis swap:
Total volumes (MMBtu)		7,565,173		6,438,122		4,477,126		2,725,378
Weighted average price	$	(0.83)	$	(0.85)	$	(0.64)	$	(0.75)

Schedule of potential effects of master netting arrangements on the fair value of derivative contracts

	Derivative Assets				Derivative Liabilities
	Years Ended December 31,				Years Ended December 31,
Offsetting of Derivative Assets and Liabilities	2022		2021		2022		2021
Gross Amounts - Consolidated Balance Sheet	$	21,623	$	3,898	$	(62,935)	$	(65,466)
Amounts Not Offset - Consolidated Balance Sheet		(20,997)		(3,898)		20,997		3,898
Net amount	$	626	$	—	$	(41,938)	$	(61,568)