Derivative Instruments (Tables)

3 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table summarizes the open financial derivative positions as of December 31, 2021, related to oil and natural gas production:

		Weighted Average Price
Calendar Quarter	Notional Volume	Fixed		Put		Call
		($ per unit)
Oil Swaps (Bbl)
Q1 2022	345,000	$	57.47	$	—	$	—
Q2 2022	345,000	$	57.47	$	—	$	—
Q3 2022	270,000	$	56.03	$	—	$	—
Q4 2022	270,000	$	56.03	$	—	$	—
2023	720,000	$	53.27	$	—	$	—
Natural Gas Swaps (Mcf)
Q1 2022	360,000	$	3.26	$	—	$	—
Q2 2022	540,000	$	3.26	$	—	$	—
Q3 2022	540,000	$	3.26	$	—	$	—
Q4 2022	540,000	$	3.26	$	—	$	—
Oil Collars (Bbl)
Q1 2022	90,000	$	—	$	35.00	$	42.63
Q2 2022	90,000	$	—	$	35.00	$	42.63
Q3 2022	90,000	$	—	$	35.00	$	42.63
Q4 2022	90,000	$	—	$	35.00	$	42.63
Oil Basis (Bbl)
Q1 2022	240,000	$	0.41	$	—	$	—
Q2 2022	240,000	$	0.41	$	—	$	—
Q3 2022	240,000	$	0.41	$	—	$	—
Q4 2022	240,000	$	0.41	$	—	$	—

The following table summarizes the open interest rate derivative positions as of December 31, 2021:

Open Coverage Period	Notional Amount		Fixed Rate
	(In thousands)
Floating-to-Fixed Interest Rate Swaps
January 2022 - September 2023	$	40,000	0.24	%

Schedule of Derivative Instruments Location and Fair Value

The following table presents the location and fair value of the Company’s derivative contracts included in the consolidated balance sheets as of December 31, 2021 and September 30, 2021:

	December 31, 2021
Balance Sheet Classification	Gross Fair Value		Amounts Netted		Net Fair Value
	(In thousands)
Current derivative assets	$	281	$	(198)	$	83
Non-current derivative assets	267		—		267
Current derivative liabilities	(31,182)		198		(30,984)
Non-current derivative liabilities	(9,515)		—		(9,515)
Total	$	(40,149)	$	—	$	(40,149)
	September 30, 2021
Balance Sheet Classification	Gross Fair Value		Amounts Netted		Net Fair Value
	(In thousands)
Current derivative assets	$	186	$	(186)	$	—
Non-current derivative assets	228		(122)		106
Current derivative liabilities	(42,330)		186		(42,144)
Non-current derivative liabilities	(9,054)		122		(8,932)
Total	$	(50,970)	$	—	$	(50,970)

Derivative Instruments, Gain (Loss)

The following table presents the components of the Company's loss on derivatives for the three months ended December 31, 2021 and 2020:

	Three Months Ended December 31,
	2021		2020
	(In thousands)
Settlements on derivative contracts	$	(16,014)	$	5,173
Non-cash gain (loss) on derivatives	10,821		(19,082)
Loss on derivatives	$	(5,193)	$	(13,909)