Derivative Instruments (Tables)
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12 Months Ended |
Dec. 31, 2020 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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Schedule of Notional Amounts of Outstanding Derivative Positions |
The total notional amounts of production of CNX's derivative instruments were as follows: | | | | | | | | | | | | | | | | | | | December 31, | | Forecasted to | | 2020 | | 2019 | | Settle Through | Natural Gas Commodity Swaps (Bcf) | 1,256.9 | | | 1,460.6 | | | 2025 | Natural Gas Basis Swaps (Bcf) | 1,294.1 | | | 1,290.4 | | | 2026 | Interest Rate Swaps | $ | 569,972 | | | $ | 160,000 | | | 2028 |
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Schedule of Derivative Liabilities at Fair Value |
The gross fair value of CNX's derivative instruments was as follows: | | | | | | | | | | | | | December 31, | | 2020 | | 2019 | Current Assets: | | | | Commodity Derivative Instruments: | | | | Commodity Swaps | $ | 53,668 | | | $ | 234,238 | | Basis Only Swaps | 30,848 | | | 13,556 | | Interest Rate Swaps | 141 | | | — | | Total Current Assets | $ | 84,657 | | | $ | 247,794 | | | | | | Other Non-Current Assets: | | | | Commodity Derivative Instruments: | | | | Commodity Swaps | $ | 134,661 | | | $ | 288,543 | | Basis Only Swaps | 52,903 | | | 25,553 | | Interest Rate Swaps | 673 | | | — | | Total Other Non-Current Assets | $ | 188,237 | | | $ | 314,096 | | | | | | Current Liabilities: | | | | Commodity Derivative Instruments: | | | | Commodity Swaps | $ | 23,506 | | | $ | 345 | | Basis Only Swaps | 14,491 | | | 40,626 | | Interest Rate Swaps | 4,332 | | | 495 | | Total Current Liabilities | $ | 42,329 | | | $ | 41,466 | | | | | | Non-Current Liabilities: | | | | Commodity Derivative Instruments: | | | | Commodity Swaps | $ | 59,388 | | | $ | 9,693 | | Basis Only Swaps | 57,150 | | | 105,445 | | Interest Rate Swaps | 10,752 | | | 724 | | Total Non-Current Liabilities | $ | 127,290 | | | $ | 115,862 | |
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Schedule of Derivative Assets at Fair Value |
The gross fair value of CNX's derivative instruments was as follows: | | | | | | | | | | | | | December 31, | | 2020 | | 2019 | Current Assets: | | | | Commodity Derivative Instruments: | | | | Commodity Swaps | $ | 53,668 | | | $ | 234,238 | | Basis Only Swaps | 30,848 | | | 13,556 | | Interest Rate Swaps | 141 | | | — | | Total Current Assets | $ | 84,657 | | | $ | 247,794 | | | | | | Other Non-Current Assets: | | | | Commodity Derivative Instruments: | | | | Commodity Swaps | $ | 134,661 | | | $ | 288,543 | | Basis Only Swaps | 52,903 | | | 25,553 | | Interest Rate Swaps | 673 | | | — | | Total Other Non-Current Assets | $ | 188,237 | | | $ | 314,096 | | | | | | Current Liabilities: | | | | Commodity Derivative Instruments: | | | | Commodity Swaps | $ | 23,506 | | | $ | 345 | | Basis Only Swaps | 14,491 | | | 40,626 | | Interest Rate Swaps | 4,332 | | | 495 | | Total Current Liabilities | $ | 42,329 | | | $ | 41,466 | | | | | | Non-Current Liabilities: | | | | Commodity Derivative Instruments: | | | | Commodity Swaps | $ | 59,388 | | | $ | 9,693 | | Basis Only Swaps | 57,150 | | | 105,445 | | Interest Rate Swaps | 10,752 | | | 724 | | Total Non-Current Liabilities | $ | 127,290 | | | $ | 115,862 | |
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Schedule of Derivative Instruments in Statement of Financial Position, Fair Value |
The effect of derivative instruments on the Company's Consolidated Statements of Income was as follows: | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | 2020 | | 2019 | | 2018 | Cash Received (Paid) in Settlement of Commodity Derivative Instruments: | | | | | | Natural Gas: | | | | | | Commodity Swaps | $ | 390,547 | | | $ | 82,899 | | | $ | (41,098) | | Basis Swaps | 70,670 | | | (13,119) | | | (28,622) | | Total Cash Received (Paid) in Settlement of Commodity Derivative Instruments | 461,217 | | | 69,780 | | | (69,720) | | | | | | | | Unrealized (Loss) Gain on Commodity Derivative Instruments: | | | | | | Natural Gas: | | | | | | Commodity Swaps | (407,308) | | | 406,472 | | | 33,026 | | Basis Swaps | 119,073 | | | (100,147) | | | 6,482 | | | | | | | | | | | | | | Total Unrealized (Loss) Gain on Commodity Derivative Instruments | (288,235) | | | 306,325 | | | 39,508 | | | | | | | | Gain (Loss) on Commodity Derivative Instruments: | | | | | | Natural Gas: | | | | | | Commodity Swaps | (16,761) | | | 489,371 | | | (8,072) | | Basis Swaps | 189,743 | | | (113,266) | | | (22,140) | | | | | | | | | | | | | | Total Gain (Loss) on Commodity Derivative Instruments | $ | 172,982 | | | $ | 376,105 | | | $ | (30,212) | |
The effect of interest rate swaps on Interest Expense in the Company's Consolidated Statements of Income was as follows: | | | | | | | | | | | | | | | For the Years Ended December 31, | | 2020 | | 2019 | | | Cash (Paid) Received in Settlement of Interest Rate Swaps | $ | (3,141) | | | $ | 223 | | | | Unrealized Loss on Interest Rate Swaps | (13,051) | | | (1,219) | | | | Loss on Interest Rate Swaps | $ | (16,192) | | | $ | (996) | | | |
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