Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of contracts for oil and natural gas

The following is a summary of the Company’s open costless collar contract at December 31, 2022.

		Notional Quantity (MMBtu)	Weighted Average Price Floor ($/MMBtu)		Weighted Average Price Ceiling ($/MMBtu)		Fair Value of Asset (Liability) (thousands)
Commodity	Calculation Period
Natural Gas	01/01/2023 - 03/31/2023	2,400,000	$	6.00	$	14.00	3,931
Total open costless collar contracts							$	3,931

Summary of offsetting assets

The following table presents the gross asset and liability fair values of the Company’s commodity price derivative financial instruments and the location of these balances in the consolidated balance sheets as of December 31, 2022 and December 31, 2021 (in thousands).

Derivative Instruments	Gross amounts recognized		Gross amounts netted in the consolidated balance sheets		Net amounts presented in the consolidated balance sheets
December 31, 2022
Current assets	$	3,931	$	—	$	3,931
Current liabilities	—		—		—
Total	$	3,931	$	—	$	3,931
December 31, 2021
Current assets	$	215,145	$	(213,174)	$	1,971
Current liabilities	(230,023)		213,174		(16,849)
Total	$	(14,878)	$	—	$	(14,878)

Summary of offsetting liabilities

The following table presents the gross asset and liability fair values of the Company’s commodity price derivative financial instruments and the location of these balances in the consolidated balance sheets as of December 31, 2022 and December 31, 2021 (in thousands).

Derivative Instruments	Gross amounts recognized		Gross amounts netted in the consolidated balance sheets		Net amounts presented in the consolidated balance sheets
December 31, 2022
Current assets	$	3,931	$	—	$	3,931
Current liabilities	—		—		—
Total	$	3,931	$	—	$	3,931
December 31, 2021
Current assets	$	215,145	$	(213,174)	$	1,971
Current liabilities	(230,023)		213,174		(16,849)
Total	$	(14,878)	$	—	$	(14,878)

Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations

The following table summarizes the location and aggregate gain (loss) of all derivative financial instruments recorded in the consolidated statements of operations for the periods presented (in thousands).

		Year Ended December 31,
Type of Instrument	Location in Statements of Operations	2022		2021		2020
Derivative Instrument
Oil	Revenues: Realized (loss) gain on derivatives	$	(75,806)	$	(194,058)	$	38,937
Natural Gas	Revenues: Realized loss on derivatives	(81,677)		(26,047)		—
Realized (loss) gain on derivatives		(157,483)		(220,105)		38,937
Oil	Revenues: Unrealized gain (loss) on derivatives	14,727		26,857		(37,703)
Natural Gas	Revenues: Unrealized gain (loss) on derivatives	4,082		(5,846)		5,695
Unrealized gain (loss) on derivatives		18,809		21,011		(32,008)
Total		$	(138,674)	$	(199,094)	$	6,929