Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Outstanding Financial Commodity Derivatives

As of December 31, 2020, the Company had the following outstanding financial commodity derivatives:

			Collars
			Floor				Ceiling				Swaps
Type of Contract	Volume (Mmbtu)	Contract Period	Range ($/Mmbtu)		Weighted-Average ($/Mmbtu)		Range ($/Mmbtu)		Weighted- Average ($/Mmbtu)		Weighted- Average ($/Mmbtu)
Natural gas (NYMEX)	18,250,000	Jan. 2021-Dec. 2021									$	2.74
Natural gas (NYMEX)	164,250,000	Jan. 2021-Dec. 2021	$2.50 - $2.85		$	2.68	$2.83 - $3.94		$	3.09
Natural gas (NYMEX)	10,700,000	Apr. 2021-Oct. 2021	$	—	$	2.50	$	—	$	2.80
Natural gas (NYMEX)	10,700,000	Apr. 2021-Oct. 2021									$	2.75

In early 2021, the Company entered into the following financial commodity derivatives:

			Swaps
Type of Contract	Volume (Mmbtu)	Contract Period	Weighted- Average ($/Mmbtu)
Natural gas (NYMEX)	10,700,000	Apr. 2021-Oct. 2021	$	2.81

Effect of Derivative Instruments on Consolidated Balance Sheet

Effect of Derivative Instruments on the Consolidated Balance Sheet

		Fair Values of Derivative Instruments
		Derivative Assets				Derivative Liabilities
		December 31,				December 31,
(In thousands)	Balance Sheet Location	2020		2019		2020		2019
Commodity contracts	Derivative instruments (current)	$	26,209	$	31	$	—	$	—
Commodity contracts	Accrued liabilities	—		—		—		9

Schedule of Offsetting Derivative Assets in Consolidated Balance Sheet

Offsetting of Derivative Assets and Liabilities in the Consolidated Balance Sheet

	December 31,
(In thousands)	2020		2019
Derivative assets
Gross amounts of recognized assets	$	26,354	$	47
Gross amounts offset in the consolidated balance sheet	(145)		(16)
Net amounts of assets presented in the consolidated balance sheet	26,209		31
Gross amounts of financial instruments not offset in the consolidated balance sheet	—		—
Net amount	$	26,209	$	31
Derivative liabilities
Gross amounts of recognized liabilities	$	145	$	25
Gross amounts offset in the consolidated balance sheet	(145)		(16)
Net amounts of liabilities presented in the consolidated balance sheet	—		9
Gross amounts of financial instruments not offset in the consolidated balance sheet	—		—
Net amount	$	—	$	9

Schedule of Offsetting Derivative Liabilities in Consolidated Balance Sheet

Offsetting of Derivative Assets and Liabilities in the Consolidated Balance Sheet

	December 31,
(In thousands)	2020		2019
Derivative assets
Gross amounts of recognized assets	$	26,354	$	47
Gross amounts offset in the consolidated balance sheet	(145)		(16)
Net amounts of assets presented in the consolidated balance sheet	26,209		31
Gross amounts of financial instruments not offset in the consolidated balance sheet	—		—
Net amount	$	26,209	$	31
Derivative liabilities
Gross amounts of recognized liabilities	$	145	$	25
Gross amounts offset in the consolidated balance sheet	(145)		(16)
Net amounts of liabilities presented in the consolidated balance sheet	—		9
Gross amounts of financial instruments not offset in the consolidated balance sheet	—		—
Net amount	$	—	$	9

Effect of Derivative Instruments on Consolidated Statement of Operations

Effect of Derivative Instruments on the Consolidated Statement of Operations

	Year Ended December 31,
(In thousands)	2020		2019		2018
Cash received (paid) on settlement of derivative instruments
Gain (loss) on derivative instruments	$	35,218	$	138,450	$	(41,631)
Non-cash gain (loss) on derivative instruments
Gain (loss) on derivative instruments	26,186		(57,642)		86,063
	$	61,404	$	80,808	$	44,432