Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments Not Designated as Hedging Instruments [Abstract]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table presents the impact of our derivative instruments on our condensed consolidated statements of operations for the periods presented:

	Three Months Ended March 31,
Condensed Consolidated Statement of Operations Line Item	2022		2021
	(in thousands)
Commodity price risk management gain (loss), net
Net settlements	$	(161,594)	$	(30,650)
Net change in fair value of unsettled derivatives	(406,461)		(150,606)
Total commodity price risk management gain (loss), net	$	(568,055)	$	(181,256)

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

As of March 31, 2022, we had the following outstanding derivative contracts. When aggregating multiple contracts, the weighted average contract price is presented:

	Collars					Fixed-Price Swaps
Commodity/ Index/ Maturity Period	Quantity (Crude oil - MBbls Natural Gas - BBtu)	Weighted Average Contract Price				Quantity (Crude Oil - MBbls Gas and Basis- BBtu)	Weighted Average Contract Price		Fair Value March 31, 2022 (in thousands)
		Floors		Ceilings
Crude Oil
NYMEX
2022	4,104	$	53.18	$	67.33	5,028	$	46.14	$	(349,549)
2023	4,833	58.13		76.68		6,510	60.13		(206,083)
2024	225	55.00		75.12		6,126	70.59		(39,312)
2025	—	—		—		1,200	73.00		(398)
Total Crude Oil	9,162					18,864			(595,342)
Natural Gas
NYMEX
2022	26,595	3.14		4.78		25,200	2.70		(117,951)
2023	15,060	3.07		4.36		34,742	3.01		(58,102)
2024	—	—		—		26,160	3.49		(5,337)
	41,655					86,102			(181,390)
CIG
2023	—	—		—		8,760	3.39		(6,185)
2025	—	—		—		4,800	3.10		(1,425)
	—					13,560			(7,610)
Total Natural Gas	41,655					99,662			(189,000)
Basis Protection - Natural Gas
CIG
2022						51,795	(0.25)		9,540
2023						49,802	(0.30)		1,711
2024						26,160	(0.39)		(715)
Total Basis Protection - Natural Gas						127,757			10,536
Commodity Derivatives Fair Value									$	(773,806)

Subsequent to March 31, 2022, we entered into the following commodity derivative positions covering our crude oil and natural gas production:

	Collars					Fixed-Price Swaps
Commodity/ Index/ Maturity Period	Quantity (Crude oil - MBbls Natural Gas - BBtu)	Weighted-Average Contract Price				Quantity (Crude oil - MBbls Natural Gas - BBtu)	Weighted- Average Contract Price
		Floors		Ceilings
Crude Oil
NYMEX
2023	600	$	75.00	$	110.00	804	$	86.00
Natural Gas
NYMEX
2023	900	5.00		14.40		—	—
Basis Protection
CIG
2022	—	—		—		13,300	(0.31)
2023	—	—		—		4,800	(0.28)

Derivatives Not Designated as Hedging Instruments [Table Text Block]

The following table reflects the impact of netting agreements on gross derivative assets and liabilities as of March 31, 2022:

	Total Gross Amount Presented on the Balance Sheet		Effect of Master Netting Agreements		Total Net Amount
	(in thousands)
Derivative assets:
Derivative instruments, at fair value	$	33,114	$	(33,114)	$	—
Derivative liabilities:
Derivative instruments, at fair value	$	806,920	$	(33,114)	$	773,806