Subsequent events (Tables)

12 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Schedule of subsequent events

The following tables present the commodity derivatives that were entered into by the Company subsequent to December 31, 2020:

	Aggregate volumes (Bbl)	Weighted-average price ($/Bbl)		Contract period
Brent ICE - Swaps	2,254,500	$	55.09	February 2021 - December 2021

	Aggregate volumes (MMBtu)	Weighted-average differential ($/MMBtu)		Contract period
Waha Inside FERC to Henry Hub NYMEX - Basis Swaps	6,823,800	$	(0.26)	March 2021 - December 2021
Waha Inside FERC to Henry Hub NYMEX - Basis Swaps	10,767,500	$	(0.34)	January 2022 - December 2022

The following table presents the commodity derivatives that were sold by the Company subsequent to December 31, 2020, of which the Company received aggregate premiums of $9.0 million at the inception of these contracts:

	Aggregate volumes (Bbl)	Weighted-average price ($/Bbl)		Contract period
Brent ICE - Puts	(2,254,500)	$	55.00	February 2021 - December 2021

The following table summarizes the resulting open oil and natural gas derivative positions as of December 31, 2020, updated for the above derivative transactions through February 19, 2021, for the settlement periods presented:

	Year 2021		Year 2022
Oil:
Brent ICE - Puts:
Volume (Bbl)	209,250		—
Weighted-average floor price ($/Bbl)	$	55.00	$	—
Brent ICE - Swaps:
Volume (Bbl)	7,291,500		3,759,500
Weighted-average price ($/Bbl)	$	51.18	$	47.05
Brent ICE - Collars:
Volume (Bbl)	584,000		—
Weighted-average floor price ($/Bbl)	$	45.00	$	—
Weighted-average ceiling price ($/Bbl)	$	59.50	$	—
Total Brent ICE:
Total volume with floor (Bbl)	8,084,750		3,759,500
Weighted-average floor price ($/Bbl)	$	50.83	$	47.05
Total volume with ceiling (Bbl)	7,875,500		3,759,500
Weighted-average ceiling price ($/Bbl)	$	51.79	$	47.05
Natural gas:
Henry Hub NYMEX - Swaps:
Volume (MMBtu)	42,522,500		3,650,000
Weighted-average price ($/MMBtu)	$	2.59	$	2.73
Waha Inside FERC to Henry Hub NYMEX - Basis Swaps:
Volume (MMBtu)	55,332,300		18,067,500
Weighted-average differential ($/MMBtu)	$	(0.48)	$	(0.41)

See Note 10.a for additional discussion regarding the Company's derivatives. There has been no other derivative activity subsequent to December 31, 2020.