DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

As of March 31, 2023, the Partnership had the following outstanding derivative contracts. When aggregating multiple contracts, the weighted average contract price is disclosed.

					Swaps	Puts
Settlement Month	Settlement Year	Type of Contract	Bbls/Mcf Per Day	Index	Weighted Average Differential	Strike Price	Deferred Premium
OIL
Apr. - Jun.	2023	Puts	12,000	WTI Cushing	$—	$55.00	$1.82
Jul. - Sep.	2023	Puts	12,000	WTI Cushing	$—	$55.00	$1.80
Oct. - Dec.	2023	Puts	4,000	WTI Cushing	$—	$55.00	$1.86
Apr. - Dec.	2023	Basis Swaps	4,000	Argus WTI Midland	$1.05	$—	$—
NATURAL GAS
Apr. - Dec.	2023	Basis Swaps	30,000	Waha Hub	$(1.33)	$—	$—
Jan. - Dec.	2024	Basis Swaps	30,000	Waha Hub	$(1.20)	$—	$—

Summary of Derivative Contract Gains and Losses Included in the Consolidated Statements of Operations

The following table summarizes the gains and losses on derivative instruments included in the condensed consolidated statements of operations and the net cash receipts (payments) on derivatives for the periods presented:

	Three Months Ended March 31,
	2023		2022
	(In thousands)
Gain (loss) on derivative instruments	$	(15,103)	$	(18,359)
Net cash receipts (payments) on derivatives(1)	$	(2,215)	$	(10,264)

(1)The three months ended March 31, 2022 includes cash paid on commodity contracts terminated prior to their contractual maturity of $4.2 million.