Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative [Line Items]

Summary of Outstanding Contracts with Respect to Natural Gas

At December 31, 2023 the Company had outstanding derivative contracts as set forth in the tables below.

Natural gas derivatives
				Weighted Average Hedge Price ($/MMBtu)
Period and Type of Contract	Average Volumes Hedged			Swaps		Floor		Ceiling
January 2024 - December 2024
Swaps - Henry Hub		618,000	MMBtus/day	$	3.44
Collars - Henry Hub		50,000	MMBtus/day			$	3.12	$	4.09
Swaps - WAHA		42,000	MMBtus/day	$	3.08
January 2025 - December 2025
Swaps - Henry Hub		575,000	MMBtus/day	$	3.93
January 2026 - December 2026
Swaps - Henry Hub		635,000	MMBtus/day	$	4.11
January 2027 - December 2027
Swaps - Henry Hub		123,000	MMBtus/day	$	4.01

Crude oil derivatives
				Weighted Average Hedge Price ($/Bbl)
Period and Type of Contract	Average Volumes Hedged			Roll Swaps		Fixed Swaps
January 2024 - December 2024
Fixed Swaps - WTI		76,000	Bbls/day			$	76.84
January 2024 - December 2024
Roll Swaps - NYMEX		36,000	Bbls/day	$	0.71

Realized and Unrealized Gains and Losses on Derivative Instruments

	Year ended December 31,
In thousands	2023			2022			2021
Cash received (paid) on derivatives:
Crude oil fixed price swaps	$	17,989		$	—		$	(44,463	)
Crude oil collars		—			—			(9,365	)
Crude oil NYMEX roll swaps		3,519			(9,234	)		(163	)
Natural gas basis swaps		4,818			9,674			—
Natural gas WAHA swaps		19,435			(16,350	)		—
Natural gas fixed price swaps		178,529			(353,326	)		(84,141	)
Natural gas collars		29,139			(66,596	)		(11,546	)
Natural gas three-way collars		3,741			(22,287	)		—
Cash received (paid) on derivatives, net		257,170			(458,119	)		(149,678	)
Non-cash gain (loss) on derivatives:
Crude oil collars		—			—			227
Crude oil fixed price swaps		134,548			11,696			—
Crude oil NYMEX roll swaps		4,051			1,879			957
Natural gas basis swaps		(8,910	)		9,088			(177	)
Natural gas WAHA swaps		2,138			19,386			—
Natural gas fixed price swaps		513,129			(219,388	)		25,565
Natural gas collars		42,240			(34,303	)		(7,690	)
Natural gas three-way collars		(598	)		(1,334	)		1,932
Non-cash gain (loss) on derivatives, net		686,598			(212,976	)		20,814
Gain (loss) on derivative instruments, net	$	943,768		$	(671,095	)	$	(128,864	)

Gross Amounts of Recognized Derivative Assets and Liabilities

The following table presents the gross amounts of recognized derivative assets and liabilities, the amounts offset under netting arrangements with counterparties, and the resulting net amounts presented in the consolidated balance sheets at December 31, 2023 and 2022, all at fair value.

	December 31,
In thousands	2023			2022
Commodity derivative assets:
Gross amounts of recognized assets	$	510,375		$	50,559
Gross amounts offset on balance sheet		(1,862	)		(7,731	)
Net amounts of assets on balance sheet		508,513			42,828
Commodity derivative liabilities:
Gross amounts of recognized liabilities		(2,448	)		(229,230	)
Gross amounts offset on balance sheet		1,862			7,731
Net amounts of liabilities on balance sheet	$	(586	)	$	(221,499	)

Derivatives Not Designated as Hedging Instruments

The following table reconciles the net amounts disclosed above to the individual financial statement line items in the consolidated balance sheets.

	December 31,
In thousands	2023			2022
Derivative assets	$	353,261		$	39,280
Derivative assets, noncurrent		155,252			3,548
Net amounts of assets on balance sheet		508,513			42,828
Derivative liabilities		—			(88,136	)
Derivative liabilities, noncurrent		(586	)		(133,363	)
Net amounts of liabilities on balance sheet		(586	)		(221,499	)
Total derivative assets (liabilities), net	$	507,927		$	(178,671	)