XML 47 R34.htm IDEA: XBRL DOCUMENT v3.20.1
DERIVATIVES (Details)
3 Months Ended
Mar. 31, 2020
USD ($)
Mar. 31, 2019
USD ($)
Mar. 31, 2020
USD ($)
$ / bbl
MMBbls
Dec. 31, 2019
USD ($)
Derivatives        
Daily oil and natural gas production before Phillips acquisition hedged (as a percent)     19.00%  
Change in fair values of derivative instruments        
Beginning fair value of commodity derivative instruments | $ $ 804,501 $ 4,227,946    
Gain (loss) on commodity derivative instruments | $ 10,132,613 (4,969,790)    
Net cash received on settlements of derivative instruments | $ (1,153,752) (196,094)    
Ending fair value of commodity derivative instruments | $ 9,783,362 (937,938)    
Assets:        
Current asset | $     $ 7,339,322 $ 687,933
Long-term asset | $     2,444,040 116,568
Derivative assets (liabilities) | $ $ 9,783,362 $ (937,938) $ 9,783,362 $ 804,501
Oil Price Swaps - March 2020 - December 2020        
Derivatives        
Notional Volumes | MMBbls     187,516  
Weighted Average Fixed Price     54.55  
Oil Price Swaps - January 2021 - December 2021        
Derivatives        
Notional Volumes | MMBbls     238,307  
Weighted Average Fixed Price     53.49  
Oil Price Swaps - January 2022 - March 2022        
Derivatives        
Notional Volumes | MMBbls     71,730  
Weighted Average Fixed Price     35.65  
Natural Gas Price Swaps - March 2020 - December 2020        
Derivatives        
Notional Volumes | MMBbls     2,620,719  
Weighted Average Fixed Price     2.55  
Natural Gas Price Swaps - January 2021 - December 2021        
Derivatives        
Notional Volumes | MMBbls     3,503,617  
Weighted Average Fixed Price     2.49  
Natural Gas Price Swaps - January 2022 -March 2022        
Derivatives        
Notional Volumes | MMBbls     972,900  
Weighted Average Fixed Price     2.54  
Minimum | Oil Price Swaps - March 2020 - December 2020        
Derivatives        
Weighted Average Fixed Price     50.45  
Minimum | Oil Price Swaps - January 2021 - December 2021        
Derivatives        
Weighted Average Fixed Price     50.79  
Minimum | Oil Price Swaps - January 2022 - March 2022        
Derivatives        
Weighted Average Fixed Price     35.65  
Minimum | Natural Gas Price Swaps - March 2020 - December 2020        
Derivatives        
Weighted Average Fixed Price     2.51  
Minimum | Natural Gas Price Swaps - January 2021 - December 2021        
Derivatives        
Weighted Average Fixed Price     2.33  
Minimum | Natural Gas Price Swaps - January 2022 -March 2022        
Derivatives        
Weighted Average Fixed Price     2.54  
Maximum | Oil Price Swaps - March 2020 - December 2020        
Derivatives        
Weighted Average Fixed Price     61.43  
Maximum | Oil Price Swaps - January 2021 - December 2021        
Derivatives        
Weighted Average Fixed Price     56.10  
Maximum | Oil Price Swaps - January 2022 - March 2022        
Derivatives        
Weighted Average Fixed Price     35.65  
Maximum | Natural Gas Price Swaps - March 2020 - December 2020        
Derivatives        
Weighted Average Fixed Price     2.63  
Maximum | Natural Gas Price Swaps - January 2021 - December 2021        
Derivatives        
Weighted Average Fixed Price     2.85  
Maximum | Natural Gas Price Swaps - January 2022 -March 2022        
Derivatives        
Weighted Average Fixed Price     2.54