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Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Commodity Derivative Positions
The following table sets forth our commodity derivative positions, presented on a net basis by period of maturity, as of June 30, 2021:
3Q214Q211Q222Q223Q224Q221Q232Q233Q234Q23
NYMEX WTI Crude Swaps
Average Volume Per Day (bbl)815 815 
Weighted Average Swap Price ($/bbl)$45.54 $45.54 
NYMEX WTI Crude Collars
Average Volume Per Day (bbl)14,130 9,783 5,417 4,533 4,484 4,484 2,917 2,885
Weighted Average Purchased Put Price ($/bbl)$44.27 $42.00 $40.00 $40.00 $40.00 $40.00 $40.00 $40.00
Weighted Average Sold Call Price ($/bbl)$59.21 $54.92 $53.49 $52.47 $52.47 $52.47 $50.00 $50.00
NYMEX WTI Crude CMA Roll Basis Swaps
Average Volume Per Day (bbl)17,935 17,935 6,667 6,593 
Weighted Average Swap Price ($/bbl)$0.17 $0.17 $0.63 $0.63 
NYMEX HH Collars
Average Volume Per Day (MMBtu)9,783 9,783 13,187 13,043 13,04311,538 11,413 11,413 
Weighted Average Purchased Put Price ($/MMBtu)$2.607 $2.607 $2.500 $2.500 $2.500 $2.500$2.500$2.500
Weighted Average Sold Call Price($/MMBtu)$3.117 $3.117 $3.220 $3.220 $3.220 $2.682$2.682$2.682
NYMEX HH Sold Puts
Average Volume Per Day (MMBtu)6,522 6,522 
Weighted Average Sold Put Price ($/MMBtu)$2.000 $2.000 
OPIS Mt Belv Ethane Swaps
Average Volume per Day (gal)35,870 28,022 27,717 27,717 98,901 
Weighted Average Fixed Price ($/gal)$0.2288 $0.2500 $0.2500 $0.2500 $0.2288 
Impact of Derivative Activities on Condensed Consolidated Statements of Income
The impact of our derivative activities on income is included within Derivatives on our condensed consolidated statements of operations. Derivative contracts that have expired at the end of a period, but for which cash had not been received or paid as of the balance sheet date, have been recognized as components of Accounts receivable (see Note 4) and Accounts payable and accrued liabilities (see Note 9) on the condensed consolidated balance sheets. The effects of derivative gains and (losses) and cash settlements are reported as adjustments to reconcile net income (loss) to net cash provided by operating activities. These items are recorded within the Derivative contracts section of our condensed consolidated statements of cash flows under Net (gains) losses and Cash settlements and premiums received (paid), net.
The following table summarizes the effects of our derivative activities for the periods presented:
Three Months Ended June 30,Six Months Ended June 30,
 2021202020212020
Interest Rate Swap gains (losses) recognized in the condensed consolidated statements of operations$4 $(876)$36 $(7,559)
Commodity gains (losses) recognized in the condensed consolidated statements of operations(54,231)(33,473)(98,631)124,329 
$(54,227)$(34,349)$(98,595)$116,770 
Interest rate cash settlements recognized in the condensed consolidated statements of cash flows$(956)$(436)$(1,878)$(368)
Commodity cash settlements and premiums received (paid) recognized in the condensed consolidated statements of cash flows(15,678)59,582 (21,925)59,245 
$(16,634)$59,146 $(23,803)$58,877 
Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets
The following table summarizes the fair values of our derivative instruments, which we elect to present on a gross basis, as well as the locations of these instruments on our condensed consolidated balance sheets as of the dates presented:
  June 30, 2021December 31, 2020
  DerivativeDerivativeDerivativeDerivative
TypeBalance Sheet LocationAssetsLiabilitiesAssetsLiabilities
Interest rate contractsDerivative assets/liabilities – current$— $3,386 $— $3,655 
Commodity contractsDerivative assets/liabilities – current6,025 60,960 75,506 81,451 
Interest rate contractsDerivative assets/liabilities – non-current— — — 1,645 
Commodity contractsDerivative assets/liabilities – non-current2,693 21,425 25,449 26,789 
  $8,718 $85,771 $100,955 $113,540