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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Outstanding Financial Commodity Derivatives
As of December 31, 2021, the Company had the following outstanding financial commodity derivatives:
CollarsSwaps
FloorCeilingBasis SwapsRoll Swaps
Type of ContractVolume (Mbbl)Contract PeriodRange ($/Bbl)Weighted- Average ($/Bbl)Range ($/Bbl)Weighted- Average ($/Bbl)Weighted- Average ($/Bbl)Weighted- Average ($/Bbl)
Crude oil (WTI)630Jan. 2022-Mar. 2022$—$35.00 
$45.15-$45.40
$45.28 
Crude oil (WTI)1,629Jan. 2022-Jun. 2022
$35.00-$37.50
$36.11 
$48.38-$51.10
$49.97 
Crude oil (WTI)2,730Jan. 2022-Sep. 2022$—$40.00 
$47.55-$50.89
$49.19 
Crude oil (WTI)2,920Jan. 2022-Dec. 2022$—$57.00 
$72.20-$72.80
$72.43 
Crude oil (WTI Midland)(1)
630Jan. 2022-Mar. 2022$0.11 
Crude oil (WTI Midland)(1)
1,448Jan. 2022-Jun. 2022$0.25 
Crude oil (WTI Midland)(1)
1,911Jan. 2022-Sep. 2022$0.38 
Crude oil (WTI Midland)(1)
2,920Jan. 2022-Dec. 2022$0.05 
Crude oil (WTI)630Jan. 2022-Mar. 2022$(0.24)
Crude oil (WTI)724Jan. 2022-Jun. 2022$(0.20)
Crude oil (WTI)1,911Jan. 2022-Sep. 2022$0.10 
________________________________________________________
(1)The index price the Company pays under these basis swaps is WTI Midland, as quoted by Argus Americas Crude.
Collars
FloorCeiling
Type of ContractVolume (Mmbtu)Contract PeriodRange
($/Mmbtu)		Weighted-Average
($/Mmbtu)		Range
($/Mmbtu)		Weighted- Average
($/Mmbtu)
Natural gas (NYMEX)36,000,000 Jan. 2022-Mar. 2022
$4.00 - $4.75
$4.38 
$5.00 - $10.32
$6.97 
Natural gas (NYMEX)42,800,000 Apr. 2022 - Oct. 2022
$3.00 - $3.50
$3.19 
$4.07 - $4.83
$4.30 
Natural gas (Perm EP)(1)
1,800,000 Jan. 2022-Mar. 2022
$1.80 - $1.90
$1.85 
$2.18 - $2.19
$2.18 
Natural gas (Perm EP)(1)
3,620,000 Jan. 2022-Jun. 2022$— $2.40 
$2.85 - $2.90
$2.88 
Natural gas (Perm EP)(1)
7,300,000 Jan. 2022-Dec. 2022$— $2.50 $— $3.15 
Natural gas (PEPL)(2)
3,600,000 Jan. 2022-Mar. 2022
$1.90 - $2.10
$2.00 
$2.35 - $2.44
$2.40 
Natural gas (PEPL)(2)
3,620,000 Jan. 2022-Jun. 2022$— $2.40 
$2.81 - $2.91
$2.86 
Natural gas (PEPL)(2)
7,300,000 Jan. 2022-Dec. 2022$— $2.60 $— $3.27 
Natural gas (Waha)(3)
3,600,000 Jan. 2022-Mar. 2022
$1.70 - $1.84
$1.77 
$2.10 - $2.20
$2.15 
Natural gas (Waha)(3)
3,620,000 Jan. 2022-Jun. 2022$— $2.40 
$2.82 - $2.89
$2.86 
Natural gas (Waha)(3)
2,730,000 Jan. 2022-Sep. 2022$— $2.40 $— $2.77 
Natural gas (Waha)(3)
7,300,000 Jan. 2022-Dec. 2022$— $2.50 $— $3.12 
________________________________________________________
(1)The index price for these collars is El Paso Natural Gas Company, Permian Basin Index (“Perm EP”), as quoted in Platt’s Inside FERC.
(2)The index price for these collars is Panhandle Eastern Pipe Line, Tex/OK Mid-Continent Index (“PEPL”), as quoted in Platt’s Inside FERC.
(3)The index price for these collars is Waha West Texas Natural Gas Index (“Waha”), as quoted in Platt’s Inside FERC.
In early 2022, the Company entered into the following outstanding financial commodity derivatives:
Collars
FloorCeiling
Type of ContractVolume (Mmbtu)Contract PeriodRange
($/Mmbtu)		Weighted-
Average
($/Mmbtu)		Range
($/Mmbtu)		Weighted-
Average
($/Mmbtu)
Natural gas (NYMEX)71,500,000Apr. 2022-Dec. 2022
$3.50 - $4.25
$3.84 
$4.75 - $6.65
$5.39 
Natural gas (NYMEX)10,700,000 Apr. 2022-Oct. 2022$— $4.00 
$5.60 - $5.69
$5.63 
Natural gas (NYMEX)7,550,000 Nov. 2022-Mar. 2023$— $4.00 
$7.06 - $7.10
$7.08 
Effect of Derivative Instruments on Consolidated Balance Sheet Effect of Derivative Instruments on the Consolidated Balance Sheet
  Fair Values of Derivative Instruments
  Derivative AssetsDerivative Liabilities
  December 31,December 31,
(In millions)Balance Sheet Location2021202020212020
Commodity contractsDerivative instruments (current)$7 $26 $159 $— 
Schedule of Offsetting Derivative Assets in Consolidated Balance Sheet
Offsetting of Derivative Assets and Liabilities in the Consolidated Balance Sheet
 December 31,
(In millions)20212020
Derivative assets  
Gross amounts of recognized assets$27 $26 
Gross amounts offset in the consolidated balance sheet(20)— 
Net amounts of assets presented in the consolidated balance sheet7 26 
Gross amounts of financial instruments not offset in the consolidated balance sheet— — 
Net amount$7 $26 
Derivative liabilities
Gross amounts of recognized liabilities$179 $— 
Gross amounts offset in the consolidated balance sheet(20)— 
Net amounts of liabilities presented in the consolidated balance sheet159 — 
Gross amounts of financial instruments not offset in the consolidated balance sheet35 — 
Net amount$194 $— 
Schedule of Offsetting Derivative Liabilities in Consolidated Balance Sheet
Offsetting of Derivative Assets and Liabilities in the Consolidated Balance Sheet
 December 31,
(In millions)20212020
Derivative assets  
Gross amounts of recognized assets$27 $26 
Gross amounts offset in the consolidated balance sheet(20)— 
Net amounts of assets presented in the consolidated balance sheet7 26 
Gross amounts of financial instruments not offset in the consolidated balance sheet— — 
Net amount$7 $26 
Derivative liabilities
Gross amounts of recognized liabilities$179 $— 
Gross amounts offset in the consolidated balance sheet(20)— 
Net amounts of liabilities presented in the consolidated balance sheet159 — 
Gross amounts of financial instruments not offset in the consolidated balance sheet35 — 
Net amount$194 $— 
Effect of Derivative Instruments on Consolidated Statement of Operations Effect of Derivative Instruments on the Consolidated Statement of Operations
Year Ended December 31,
(In millions)202120202019
Cash (paid) received on settlement of derivative instruments
Gas contracts$(307)$35 $139 
Oil contracts(124)— — 
Non-cash (loss) gain on derivative instruments
Gas contracts99 26 (58)
Oil contracts111 — — 
$(221)$61 $81