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DERIVATIVES (Tables)
 9 Months Ended
Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Commodity Derivative Contracts
As of September 30, 2021 and the filing date of this report, the Company had entered into the following commodity derivative contracts:
Crude Oil
(NYMEX WTI)		Natural Gas
(NYMEX Henry Hub)		Natural Gas
(CIG Basis)		Natural Gas
(CIG)
Bbls/dayWeighted Avg. Price per BblMMBtu/dayWeighted Avg. Price per MMBtuMMBtu/dayWeighted Avg. Basis Differential to CIG Price per MMBtuMMBtu/dayWeighted Avg. Price per MMBtu
4Q21
Cashless Collar10,500 
$48.81/$67.63
20,000 
$2.25/$2.52
— —20,000 
$2.15/$2.75
Swap8,000 $54.49— —20,000 $0.4313,370 $2.13
Oil Roll Swap(1)
4,500 $0.16— —— —— —
1Q22
Cashless Collar6,500 
$35.10/$59.44
— —— —20,000 
$2.15/$2.75
Swap1,000 $50.15— —— —10,000 $2.13
Oil Roll Swap(1)
2,000 $0.22— —— —— —
Swaptions4,000 $55.06— —— —— —
2Q22
Cashless Collar5,000 
$36.64/$63.52
— —— —20,000 
$2.15/$2.75
Swap1,000 $50.15— —— —10,000 $2.13
Oil Roll Swap(1)
2,000 $0.22— —— —— —
Swaptions4,000 $55.06— —— —— —
3Q22
Cashless Collar4,200 
$40.64/$67.74
20,000 
$2.80/$4.20
— —— —
Swap1,000 $50.15— —— —10,000 $2.13
Oil Roll Swap(1)
2,000 $0.22— —— —— —
Swaptions2,000 $55.13— —— —— —
4Q22
Cashless Collar3,700 
$41.40/$69.50
20,000 
$2.80/$4.20
— —— —
Swap1,000 $50.15— —— —10,000 $2.13
Oil Roll Swap(1)
2,000 $0.22— —— —— —
Swaptions2,000 $55.13— —— —— —
_______________________________
(1) The weighted average differential represents the amount of reduction to NYMEX WTI prices for the notional volumes covered by the swap contracts.
Schedule of Derivatives and Balance Sheet Location The following table contains a summary of all the Company’s derivative positions reported on the accompanying balance sheets as of the dates indicated in the table below (in thousands):
 September 30, 2021December 31, 2020
Derivative Assets: 
Commodity contracts – current$— $7,482 
Commodity contracts – noncurrent— — 
Derivative Liabilities:  
Commodity contracts – current(92,784)(6,402)
Commodity contracts – noncurrent(9,044)(1,330)
Total derivative assets (liabilities), net$(101,828)$(250)
Summary of Components of Derivative Gain (Loss) Statements of Operations
The following table summarizes the components of the derivative gain (loss) presented on the accompanying statements of operations for the periods below (in thousands):
 Three Months Ended September 30,Nine months ended September 30,
2021202020212020
Derivative cash settlement gain (loss): 
Oil contracts$(19,838)$9,165 $(41,454)$42,088 
Gas contracts(6,708)(538)(9,082)406 
Total derivative cash settlement gain (loss)(1)
(26,546)8,627 (50,536)42,494 
Change in fair value gain (loss)(9,678)(19,297)(83,077)22,109 
Total derivative gain (loss)(1)
$(36,224)$(10,670)$(133,613)$64,603 
_______________________________
(1)Total derivative gain (loss) and total derivative cash settlement gain (loss) for the nine months ended September 30, 2021 and 2020 are reported in the derivative (gain) loss line item and derivative cash settlement gain (loss) line item in the accompanying statements of cash flows, within the cash flows from operating activities.