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Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2022
Derivative Instruments Not Designated as Hedging Instruments [Abstract]  
Schedule of notional amounts of outstanding derivative positions [Table Text Block]
As of March 31, 2022, the Company had commodity derivative contracts outstanding through the fourth quarter of 2025 as summarized in the table below:
Contract Period
Second Quarter 2022Third Quarter 2022Fourth Quarter 2022202320242025
Oil Derivatives (volumes in MBbl and prices in $ per Bbl):
Swaps
NYMEX WTI Volumes2,451 1,938 1,923 1,190 — — 
Weighted-Average Contract Price$52.71 $44.63 $44.58 $45.20 $— $— 
ICE Brent Volumes— — — 3,650 614 — 
Weighted-Average Contract Price$— $— $— $86.50 $85.26 $— 
Collars
NYMEX WTI Volumes894 1,114 1,128 858 — — 
Weighted-Average Floor Price$56.94 $64.77 $63.74 $60.00 $— $— 
Weighted-Average Ceiling Price$64.93 $71.89 $75.48 $73.09 $— $— 
Basis Swaps
WTI Midland-NYMEX WTI Volumes2,374 2,442 2,462 885 — — 
Weighted-Average Contract Price$1.15 $1.15 $1.15 $0.60 $— $— 
NYMEX WTI-ICE Brent Volumes910 920 920 — — — 
Weighted-Average Contract Price$(7.78)$(7.78)$(7.78)$— $— $— 
WTI Houston MEH-NYMEX WTI Volumes349 335 374 646 — — 
Weighted-Average Contract Price$1.25 $1.25 $1.25 $1.24 $— $— 
Roll Differential Swaps
NYMEX WTI Volumes3,359 3,288 3,248 4,968 — — 
Weighted-Average Contract Price$0.21 $0.22 $0.21 $0.62 $— $— 
Gas Derivatives (volumes in BBtu and prices in $ per MMBtu):
Swaps
NYMEX HH volumes1,977 1,677 1,903 — — — 
Weighted-Average Contract Price$3.95 $4.02 $4.25 $— $— $— 
IF HSC Volumes6,808 6,934 6,982 — — — 
Weighted-Average Contract Price$2.34 $2.37 $2.47 $— $— $— 
IF WAHA Volumes3,079 3,085 3,067 900 — — 
Weighted-Average Contract Price$2.09 $2.19 $2.22 $3.98 $— $— 
Collars
NYMEX HH Volumes1,270 760 1,908 17,098 — — 
Weighted-Average Floor Price$3.00 $3.25 $3.50 $3.31 $— $— 
Weighted-Average Ceiling Price$4.48 $5.45 $4.44 $5.59 $— $— 
IF HSC Volumes— — — 900 $— $— 
Weighted-Average Floor Price$— $— $— $3.38 $— $— 
Weighted-Average Ceiling Price$— $— $— $7.75 $— $— 
Basis Swaps
IF Tenn TX Z0-NYMEX HH Volumes1,270 760 — — — — 
Weighted-Average Contract Price$(0.14)$(0.14)$— $— $— $— 
IF WAHA-NYMEX HH Volumes— — — 7,247 20,958 15,727 
Weighted-Average Contract Price$— $— $— $(1.02)$(0.86)$(0.66)
Contract Period (continued)
Second Quarter 2022Third Quarter 2022Fourth Quarter 2022202320242025
NGL Derivatives (volumes in MBbl and prices in $ per Bbl):
Swaps
OPIS Propane Mont Belvieu Non-TET Volumes269 106 113 — — — 
Weighted-Average Contract Price$41.69 $35.70 $35.91 $— $— $— 
Collars
OPIS Propane Mont Belvieu Non-TET Volumes253 164 173 — — — 
Weighted-Average Floor Price$25.94 $24.09 $24.11 $— $— $— 
Weighted-Average Ceiling Price$31.69 $27.84 $28.13 $— $— $— 
Schedule of fair value of derivatives in accompanying balance sheets [Table Text Block]
The following table details the fair value of commodity derivative contracts recorded in the accompanying balance sheets, by category:
As of March 31, 2022As of December 31, 2021
(in thousands)
Derivative assets:
Current assets$9,649 $24,095 
Noncurrent assets8,903 239 
Total derivative assets$18,552 $24,334 
Derivative liabilities:
Current liabilities$538,127 $319,506 
Noncurrent liabilities51,631 25,696 
Total derivative liabilities$589,758 $345,202 
Schedule of the potential effects of master netting arrangements [Table Text Block]
The following table provides a reconciliation between the gross assets and liabilities reflected on the accompanying balance sheets and the potential effects of master netting arrangements on the fair value of the Company’s commodity derivative contracts:
Derivative Assets as ofDerivative Liabilities as of
March 31, 2022December 31, 2021March 31, 2022December 31, 2021
(in thousands)
Gross amounts presented in the accompanying balance sheets$18,552 $24,334 $(589,758)$(345,202)
Amounts not offset in the accompanying balance sheets(18,262)(22,862)18,262 22,862 
Net amounts$290 $1,472 $(571,496)$(322,340)
Schedule of the components of the derivative settlement (gain) loss and the net derivative (gain) loss [Table Text Block]
The following table summarizes the commodity components of the derivative settlement loss, and the net derivative loss line items presented within the accompanying unaudited condensed consolidated statements of cash flows (“accompanying statements of cash flows”) and the accompanying statements of operations, respectively:
For the Three Months Ended March 31,
20222021
(in thousands)
Derivative settlement loss:
Oil contracts$129,168 $56,329 
Gas contracts27,051 40,448 
NGL contracts11,964 11,108 
Total derivative settlement loss$168,183 $107,885 
Net derivative loss:
Oil contracts$315,050 $265,815 
Gas contracts86,175 48,922 
NGL contracts17,296 29,952 
Total net derivative loss$418,521 $344,689