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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2023
Derivative Instruments Not Designated as Hedging Instruments [Abstract]  
Schedule of notional amounts of outstanding derivative positions
As of September 30, 2023, the Company had commodity derivative contracts outstanding through the fourth quarter of 2025 as summarized in the table below:
Contract Period
Fourth Quarter 202320242025
Oil Derivatives (volumes in MBbl and prices in $ per Bbl):
Swaps
NYMEX WTI Volumes837 — — 
Weighted-Average Contract Price$65.91 $— $— 
ICE Brent Volumes
920 910 — 
Weighted-Average Contract Price$86.50 $85.50 $— 
Collars
NYMEX WTI Volumes— 3,993 — 
Weighted-Average Floor Price$— $70.01 $— 
Weighted-Average Ceiling Price$— $84.69 $— 
Basis Swaps
WTI Midland-NYMEX WTI Volumes
1,294 4,857 — 
Weighted-Average Contract Price$0.88 $1.21 $— 
WTI Houston MEH-NYMEX WTI Volumes
296 1,190 — 
Weighted-Average Contract Price$1.53 $1.82 $— 
Roll Differential Swaps
NYMEX WTI Volumes1,446 7,048 — 
Weighted-Average Contract Price$0.62 $0.57 $— 
Gas Derivatives (volumes in BBtu and prices in $ per MMBtu):
Swaps
NYMEX HH Volumes
— 4,185 5,891 
Weighted-Average Contract Price$— $3.20 $4.20 
Collars
NYMEX HH Volumes
8,362 22,342 11,723 
Weighted-Average Floor Price$3.90 $3.61 $3.50 
Weighted-Average Ceiling Price$5.70 $5.76 $5.04 
IF HSC Volumes
1,451 — — 
Weighted-Average Floor Price$4.25 $— $— 
Weighted-Average Ceiling Price$5.55 $— $— 
Basis Swaps
IF Waha-NYMEX HH Volumes
2,337 20,958 20,501 
Weighted-Average Contract Price$(1.01)$(0.86)$(0.66)
IF HSC-NYMEX HH Volumes
2,008 15,898 — 
Weighted-Average Contract Price$(0.25)$(0.27)$— 
NGL Derivatives (volumes in MBbl and prices in $ per Bbl):
Swaps
OPIS Propane Mont Belvieu Non-TET Volumes187 — — 
Weighted-Average Contract Price$36.66 $— $— 
Schedule of fair value of derivatives in accompanying balance sheets
The following table details the fair value of commodity derivative contracts recorded in the accompanying balance sheets, by category:
As of September 30, 2023As of December 31, 2022
(in thousands)
Derivative assets:
Current assets$25,524 $48,677 
Noncurrent assets5,294 24,465 
Total derivative assets$30,818 $73,142 
Derivative liabilities:
Current liabilities$43,152 $56,181 
Noncurrent liabilities4,595 1,142 
Total derivative liabilities$47,747 $57,323 
Schedule of the potential effects of master netting arrangements
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
September 30,
2023		December 31, 2022September 30,
2023		December 31, 2022
(in thousands)
Gross amounts presented in the accompanying balance sheets$30,818 $73,142 $(47,747)$(57,323)
Amounts not offset in the accompanying balance sheets(26,940)(26,136)26,940 26,136 
Net amounts$3,878 $47,006 $(20,807)$(31,187)
Schedule of the components of the derivative settlement (gain) loss and the net derivative (gain) loss
The following table summarizes the commodity components of the derivative settlement (gain) loss, and the net derivative (gain) 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
September 30,		For the Nine Months Ended
September 30,
2023202220232022
(in thousands)
Derivative settlement (gain) loss:
Oil contracts$13,446 $120,430 $20,144 $428,811 
Gas contracts(11,643)61,981 (37,495)142,369 
NGL contracts(1,489)3,888 (3,047)23,900 
Total derivative settlement (gain) loss$314 $186,299 $(20,398)$595,080 
Net derivative (gain) loss:
Oil contracts$77,857 $(180,300)$31,172 $235,023 
Gas contracts(4,437)47,973 (14,655)142,695 
NGL contracts1,935 (5,250)(4,165)7,462 
Total net derivative (gain) loss$75,355 $(137,577)$12,352 $385,180