XML 44 R34.htm IDEA: XBRL DOCUMENT v3.22.2
DERIVATIVES (Details)
3 Months Ended 6 Months Ended
May 17, 2022
USD ($)
Jun. 30, 2022
USD ($)
$ / bbl
MMBbls
Jun. 30, 2021
USD ($)
Jun. 30, 2022
USD ($)
$ / bbl
MMBbls
Jun. 30, 2021
USD ($)
Dec. 31, 2021
USD ($)
Jan. 27, 2021
USD ($)
Derivatives              
Daily oil and natural gas production (as a percent)   32.00%   32.00%      
Change in fair values of derivative instruments              
Beginning fair value of commodity derivative instruments | $   $ (45,305,641) $ (18,955,035) $ (26,624,646) $ (6,280,863)    
Loss on derivative instruments | $   (6,195,920) (14,266,002) (34,434,335) (27,938,959)    
Net cash paid (received) on settlements of derivative instruments | $   12,759,918 3,222,620 22,317,338 4,221,405    
Ending fair value of commodity derivative instruments | $   (38,741,643) (29,998,417) (38,741,643) (29,998,417)    
Assets:              
Current assets | $   2,040,558   2,040,558   $ 166,307  
Long-term assets | $   1,300,119   1,300,119   1,590,501  
Liabilities:              
Current liability | $   (36,191,134)   (36,191,134)   (24,190,678)  
Long-term liability | $   (5,891,186)   (5,891,186)   (4,190,776)  
Derivative assets (liabilities) | $   (38,741,643) $ (29,998,417) (38,741,643) $ (29,998,417) (26,624,646)  
Interest Rate Swap              
Derivatives              
Derivative, Notional Amount | $ $ 75,000,000.0 $ 75,000,000.0   $ 75,000,000.0     $ 150,000,000.0
Unwind notional amount (as a percent) 50.00%            
Derivative hedging of outstanding debt (as a percent)   35.00%   35.00%      
Interest rate swap (as a percent)             3.90%
Commodity derivative contracts | $   $ 3,300,000   $ 3,300,000      
Change in fair values of derivative instruments              
Gain on interest rate swap | $ $ 3,000,000.0            
Liabilities:              
Derivative Asset | $   $ 3,340,677   $ 3,340,677   $ 1,756,808  
Oil Price Swaps - July 2022 - December 2022              
Derivatives              
Notional Volumes | MMBbls   248,584   248,584      
Weighted Average Fixed Price   44.61   44.61      
Oil Price Swaps - January 2023 - December 2023              
Derivatives              
Notional Volumes | MMBbls   303,411   303,411      
Weighted Average Fixed Price   59.35   59.35      
Oil Price Swaps - January 2024 - June 2024              
Derivatives              
Notional Volumes | MMBbls   111,020   111,020      
Weighted Average Fixed Price   79.41   79.41      
Natural Gas Price Swaps - July 2022 - December 2022              
Derivatives              
Notional Volumes | MMBbls   3,142,812   3,142,812      
Weighted Average Fixed Price   2.50   2.50      
Natural Gas Price Swaps - January 2023 - December 2023              
Derivatives              
Notional Volumes | MMBbls   4,245,899   4,245,899      
Weighted Average Fixed Price   2.90   2.90      
Natural Gas Price Swaps - January 2024 - June 2024              
Derivatives              
Notional Volumes | MMBbls   1,632,540   1,632,540      
Weighted Average Fixed Price   4.23   4.23      
Minimum | Oil Price Swaps - July 2022 - December 2022              
Derivatives              
Weighted Average Fixed Price   43.52   43.52      
Minimum | Oil Price Swaps - January 2023 - December 2023              
Derivatives              
Weighted Average Fixed Price   53.38   53.38      
Minimum | Oil Price Swaps - January 2024 - June 2024              
Derivatives              
Weighted Average Fixed Price   76.32   76.32      
Minimum | Natural Gas Price Swaps - July 2022 - December 2022              
Derivatives              
Weighted Average Fixed Price   2.44   2.44      
Minimum | Natural Gas Price Swaps - January 2023 - December 2023              
Derivatives              
Weighted Average Fixed Price   2.52   2.52      
Minimum | Natural Gas Price Swaps - January 2024 - June 2024              
Derivatives              
Weighted Average Fixed Price   4.15   4.15      
Maximum | Oil Price Swaps - July 2022 - December 2022              
Derivatives              
Weighted Average Fixed Price   46.00   46.00      
Maximum | Oil Price Swaps - January 2023 - December 2023              
Derivatives              
Weighted Average Fixed Price   63.00   63.00      
Maximum | Oil Price Swaps - January 2024 - June 2024              
Derivatives              
Weighted Average Fixed Price   82.40   82.40      
Maximum | Natural Gas Price Swaps - July 2022 - December 2022              
Derivatives              
Weighted Average Fixed Price   2.58   2.58      
Maximum | Natural Gas Price Swaps - January 2023 - December 2023              
Derivatives              
Weighted Average Fixed Price   3.28   3.28      
Maximum | Natural Gas Price Swaps - January 2024 - June 2024              
Derivatives              
Weighted Average Fixed Price   4.31   4.31