XML 35 R25.htm IDEA: XBRL DOCUMENT v3.22.2
DERIVATIVES (Tables)
6 Months Ended
Jun. 30, 2022
DERIVATIVES  
Schedule of changes in fair value of derivative instruments

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Three Months Ended June 30, 

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Six Months Ended June 30, 

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2022

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2021

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2022

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2021

Beginning fair value of derivative instruments

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$

(45,305,641)

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$

(18,955,035)

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$

(26,624,646)

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$

(6,280,863)

Loss on derivative instruments

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(6,195,920)

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(14,266,002)

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(34,434,335)

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(27,938,959)

Net cash paid on settlements of derivative instruments

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12,759,918

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3,222,620

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22,317,338

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4,221,405

Ending fair value of derivative instruments

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$

(38,741,643)

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$

(29,998,417)

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$

(38,741,643)

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$

(29,998,417)

Schedule of derivative contracts

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June 30, 

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December 31, 

Classification

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Balance Sheet Location

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2022

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2021

Assets:

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Current assets

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Derivative assets

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$

2,040,558

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$

166,307

Long-term assets

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Derivative assets

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1,300,119

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1,590,501

Liabilities:

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Current liabilities

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Derivative liabilities

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(36,191,134)

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(24,190,678)

Long-term liabilities

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Derivative liabilities

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(5,891,186)

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(4,190,776)

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$

(38,741,643)

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$

(26,624,646)

Schedule of commodity derivative contracts

Oil Price Swaps

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Notional

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Weighted Average

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Range (per Bbl)

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Volumes (Bbl)

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Fixed Price (per Bbl)

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Low

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High

July 2022 - December 2022

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248,584

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$

44.61

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$

43.52

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$

46.00

January 2023 - December 2023

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303,411

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$

59.35

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$

53.38

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$

63.00

January 2024 - June 2024

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111,020

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$

79.41

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$

76.32

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$

82.40

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Natural Gas Price Swaps

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Notional

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Weighted Average

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Range (per MMBtu)

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Volumes (MMBtu)

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Fixed Price (per MMBtu)

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Low

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High

July 2022 - December 2022

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3,142,812

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$

2.50

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$

2.44

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$

2.58

January 2023 - December 2023

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4,245,899

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$

2.90

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$

2.52

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$

3.28

January 2024 - June 2024

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1,632,540

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$

4.23

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$

4.15

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$

4.31