XML 45 R27.htm IDEA: XBRL DOCUMENT v3.24.0.1
Derivative Financial Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Gas Derivative Contracts Volume and Prices

The Company had the following outstanding natural gas price derivative financial instruments at December 31, 2023:

 

 

 

Future
Production
Period Ending December 31, 2024

 

Natural Gas Swap Contracts:

 

 

 

Volume (MMBtu)

 

 

146,400,000

 

Average Price per MMBtu

 

$

3.55

 

Schedule of Derivative Instruments

The aggregate fair value of the Company's derivative financial instruments are presented on a gross basis in the accompanying consolidated balance sheets. The classification of derivative financial instruments between assets and liabilities, consists of the following:

 

 

 

 

 

As of December 31,

 

Type

 

Consolidated Balance Sheet Location

 

2023

 

 

2022

 

 

 

 

 

(in thousands)

 

Asset Derivative Financial Instruments:

 

 

 

 

 

 

 

 

Natural gas price derivatives

 

Derivative Financial Instruments – current

 

$

126,775

 

 

$

23,884

 

 

 

 

 

 

 

 

 

 

Liability Derivative Financial Instruments:

 

 

 

 

 

 

 

 

Natural gas price derivatives

 

Derivative Financial Instruments – current

 

$

 

 

$

4,420

 

Schedule of Gains and Losses from Derivative Financial Instruments Gains and losses related to cash settlements and changes in the fair value recognized on the Company's derivative contracts recognized in the consolidated statement of operations were as follows:

 

 

 

Year Ended December 31,

 

Gain/(Loss) Recognized in Earnings on Derivatives

 

2023

 

 

2022

 

 

2021

 

 

 

(In thousands)

 

Natural gas price derivatives

 

$

187,639

 

 

$

(662,522

)

 

$

(555,636

)

Oil price derivatives

 

 

 

 

 

 

 

 

(7,247

)

Interest rate derivatives

 

 

 

 

 

 

 

 

2,235

 

 

 

$

187,639

 

 

$

(662,522

)

 

$

(560,648

)