Commodity Risk Management Activities (Tables)

3 Months Ended

Mar. 31, 2021

Commodity Risk Management Activities

Schedule of natural gas price and basis swap contracts

								Fair Value
	Volume	Ceiling		Floor		Basis		March 31,
Derivative Type	(MMbtu)	Price		Price		Differential		2021
2021
Basis swap	305,000					$	(1.10)		(27,181)
Two-way costless collar	2,755,000	$	3.27	$	2.78				411,801
2022
Two-way costless collar	900,000	$	3.34	$	2.80				16,521
								$	401,141

Schedule of fair value of derivatives

	Fair Value of Derivative  Assets
	March 31,		December 31,
	2021		2020
Current
Basis swap	$	—	$	—
Two-way costless collar		894,240		—
	$	894,240	$	—

	Fair Value of Derivative  Liabilities
	March 31,		December 31,
	2021		2020
Current
Basis swap	$	(27,181)	$	—
Two-way costless collar		(465,918)		—
	$	(493,099)	$	—
Net Fair Value of Derivatives	$	401,141	$	—

Schedule of fair value of derivatives rollforward

	Three months ended March 31,
	2021		2020
Fair value of asset (liability), beginning of the period	$	—	$	1,999,802
Gains (losses) on derivative contracts included in earnings		465,341		1,721,018
Settlement of commodity derivative contracts		(64,200)		(1,345,942)
Fair value of asset, end of the period	$	401,141	$	2,374,878