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Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instrument Detail [Abstract]  
Schedule of Oil and Gas Contracts
The Company’s oil and gas swap contracts as of September 30, 2024 are summarized below:
Oil (NYMEX WTI)
Remaining TermBbl per DayWeighted Average Price per Bbl
October 2024 - December 20243,300$82.66 
January 2025 - June 20251,100$74.65 
Gas (NYMEX Henry Hub)
Remaining TermMMBtu per DayWeighted Average Price per MMBtu
October 2024 - December 2024500$3.41 
The Company’s oil and gas two-way commodity collar contracts as of September 30, 2024 are summarized below:
Oil (NYMEX WTI)
Remaining TermBbl per DayWeighted Average Floor Price per BblWeighted Average Ceiling Price per Bbl
January 2025 - June 20252,000$60.00 $93.20 
Gas (NYMEX Henry Hub)
Remaining TermMMBtu per DayWeighted Average Floor Price per
MMBtu		Weighted Average Ceiling Price
per MMBtu
October 2024 - December 202411,400$4.00 $7.24 
January 2025 - June 202511,600$3.31 $10.34 
Summary of Derivative Instruments
The following table presents a summary of the Company’s derivative instruments and where such values are recorded on the unaudited condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023 (in thousands):
September 30, 2024December 31, 2023
Balance sheet
location		Fair valueFair value
Asset derivatives not designated as hedges for accounting purposes:
Commodity contractsCurrent assets$9,066 $19,080 
Commodity contractsLong-term assets— 3,440 
Total asset derivatives$9,066 $22,520 
Liability derivatives not designated as hedges for accounting purposes:
Commodity contractsCurrent liabilities$— $— 
Commodity contractsLong-term liabilities— — 
Total liability derivatives$— $— 
  
Net derivatives$9,066 $22,520 
Summary of Gross Fair Values of Recognized Derivative Assets and Liabilities, Amounts Offset Under Master Netting Arrangements With Counterparties and Resulting Net Amounts
The following table presents the gross fair values of recognized derivative assets and liabilities, the amounts offset under master netting arrangements with counterparties, and the resulting net amounts presented on the unaudited condensed consolidated balance sheets (in thousands):
September 30, 2024December 31, 2023
Gross Fair Value
Gross Amounts Offset
Net Fair Value
Gross Fair Value
Gross Amounts Offset
Net Fair Value
Commodity derivative assets$9,252 $(186)$9,066 $23,401 $(881)$22,520 
Commodity derivative liabilities(186)186 — (881)881 — 
Summary of Derivative Gains and Losses
The following table is a summary of derivative gains and losses, and where such values are recorded in the unaudited condensed consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023 (in thousands):
Three Months EndedNine Months Ended
Statement of
income location		September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Commodity derivatives gains (losses)Other income$7,785 $(24,125)$(2,872)$(3,250)
Interest rate derivative gainsOther income— 9 — 456