Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity Derivative Positions

The following table sets forth our commodity derivative contracts as of December 31, 2021:

Commodity Derivatives	1Q2022		2Q2022		3Q2022		4Q2022		1Q2023		2Q2023		3Q2023		4Q2023		1Q2024		2Q2024
NYMEX WTI Crude Swaps
Average Volume Per Day (bbl)	3,250		3,000		3,000		3,000		2,500		2,400		2,807		2,657		462		462
Weighted Average Swap Price ($/bbl)	$	75.16	$	74.12	$	73.01	$	69.20	$	54.40	$	54.26	$	54.92	$	54.93	$	58.75	$	58.75
NYMEX WTI Crude Collars
Average Volume Per Day (bbl)	17,083		14,423		7,745		6,114		2,917		2,885
Weighted Average Purchased Put Price ($/bbl)	$	56.10	$	54.29	$	47.37	$	45.33	$	40.00	$	40.00
Weighted Average Sold Call Price ($/bbl)	$	70.49	$	72.84	$	64.60	$	60.87	$	50.00	$	50.00
NYMEX WTI Purchased Puts
Average Volume Per Day (bbl)	9,444
Weighted Average Purchased Put Price ($/bbl)	$	65.74
NYMEX WTI Crude CMA Roll Basis Swaps
Average Volume Per Day (bbl)	13,333		13,187		6,522		6,522
Weighted Average Swap Price ($/bbl)	$	0.880	$	0.880	$	1.135	$	1.135
NYMEX HH Swaps
Average Volume Per Day (MMBtu)	17,500		12,500		12,500		12,500		10,000		7,500
Weighted Average Swap Price ($/MMBtu)	$	4.349	$	3.727	$	3.745	$	3.793	$	3.620	$	3.690
NYMEX HH Collars
Average Volume Per Day (MMBtu)	3,333		13,187		13,043		13,043				11,538		11,413		11,413		11,538		11,538
Weighted Average Purchased Put Price ($/MMBtu)	$	4.150	$	2.500	$	2.500	$	2.500			$	2.500	$	2.500	$	2.500	$	2.500	$	2.328
Weighted Average Sold Call Price ($/MMBtu)	$	5.750	$	3.220	$	3.220	$	3.220			$	2.682	$	2.682	$	2.682	$	3.650	$	3.000
OPIS Mt Belv Ethane Swaps
Average Volume per Day (gal)			28,022		27,717		27,717				98,901		34,239		34,239		34,615
Weighted Average Fixed Price ($/gal)			$	0.2500	$	0.2500	$	0.2500			$	0.2288	$	0.2275	$	0.2275	$	0.2275

Impact of Derivative Activities on Condensed Consolidated Statements of Income

The impact of our derivatives activities on income is included within Derivatives on our 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 5) and Accounts payable and accrued liabilities (see Note 12) on the 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 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:

	Year Ended December 31,
	2021		2020		2019
Interest Rate Swap losses recognized in the consolidated statements of operations	$	(2)	$	(7,510)	$	—
Commodity gains (losses) recognized in the consolidated statements of operations	(136,997)		95,932		(68,131)
	$	(136,999)	$	88,422	$	(68,131)
Interest rate cash settlements recognized in the consolidated statements of cash flows	$	(3,822)	$	(2,210)	$	—
Commodity cash settlements and premiums received (paid) recognized in the consolidated statements of cash flows	(77,099)		80,297		(4,136)
Commodity cash settlements paid for acquired derivatives recognized in the consolidated statements of cash flows	(49,554)		—		—
	$	(130,475)	$	78,087	$	(4,136)

Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets

The following table summarizes the fair value of our derivative instruments, which we elect to present on gross basis, as well as the locations of these instruments on our consolidated balance sheets as of the dates presented:

		Fair Values
		December 31, 2021				December 31, 2020
Type	Balance Sheet Location	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
Interest rate contracts	Derivative assets/liabilities – current	$	—	$	1,480	$	—	$	3,655
Commodity contracts	Derivative assets/liabilities – current	11,478		48,892		75,506		81,451
Interest rate contracts	Derivative assets/liabilities – non-current	—		—		—		1,645
Commodity contracts	Derivative assets/liabilities – non-current	2,092		23,815		25,449		26,789
		$	13,570	$	74,187	$	100,955	$	113,540