Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Commodity Derivative Positions

The following table sets forth our commodity derivative positions, presented on a net basis by period of maturity, as of September 30, 2022:

	4Q2022		1Q2023		2Q2023		3Q2023		4Q2023		1Q2024		2Q2024
NYMEX WTI Crude Swaps
Average Volume Per Day (bbl)	3,000		2,500		2,400		2,807		2,657		462		462
Weighted Average Swap Price ($/bbl)	$	69.20	$	54.40	$	54.26	$	54.92	$	54.93	$	58.75	$	58.75
NYMEX WTI Crude Collars
Average Volume Per Day (bbl)	20,245		12,917		11,126		8,152		4,891
Weighted Average Purchased Put Price ($/bbl)	$	64.56	$	63.23	$	61.48	$	72.00	$	70.00
Weighted Average Sold Call Price ($/bbl)	$	88.78	$	79.67	$	74.31	$	89.91	$	86.04
NYMEX WTI Crude CMA Roll Basis Swaps
Average Volume Per Day (bbl)	3,804
Weighted Average Swap Price ($/bbl)	$	1.751
NYMEX HH Swaps
Average Volume Per Day (MMBtu)	12,500		10,000		7,500
Weighted Average Swap Price ($/MMBtu)	$	3.793	$	3.620	$	3.690
NYMEX HH Collars
Average Volume Per Day (MMBtu)	14,511		14,617		11,538		11,413		11,413		11,538		11,538
Weighted Average Purchased Put Price ($/MMBtu)	$	2.854	$	6.561	$	2.500	$	2.500	$	2.500	$	2.500	$	2.328
Weighted Average Sold Call Price ($/MMBtu)	$	3.791	$	12.334	$	2.682	$	2.682	$	2.682	$	3.650	$	3.000
OPIS Mt. Belv Ethane Swaps
Average Volume per Day (gal)	27,717				98,901		34,239		34,239		34,615
Weighted Average Fixed Price ($/gal)	$	0.2500			$	0.2288	$	0.2275	$	0.2275	$	0.2275

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1    NYMEX WTI refers to New York Mercantile Exchange West Texas Intermediate that serves as the benchmark for crude oil. NYMEX HH refers to NYMEX Henry Hub that serves as the benchmark for natural gas. OPIS Mt. Belv refers to Oil Price Information Service Mt. Belvieu that serves as the benchmark for ethane which represents a commodity proxy for NGLs.

Schedule of Impact of Derivative Activities on Condensed Consolidated Statements of Income and Cash Flows

The following table summarizes the effects of our derivative activities for the periods presented:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Interest Rate Swap gains (losses) recognized in the condensed consolidated statements of operations	$	—	$	(84)	$	64	$	(48)
Commodity gains (losses) recognized in the condensed consolidated statements of operations	63,756		(21,000)		(149,137)		(119,631)
	$	63,756	$	(21,084)	$	(149,073)	$	(119,679)
Interest rate cash settlements recognized in the condensed consolidated statements of cash flows	$	—	$	(973)	$	(1,415)	$	(2,851)
Commodity cash settlements and premiums paid recognized in the condensed consolidated statements of cash flows	(55,302)		(21,265)		(157,809)		(43,190)
	$	(55,302)	$	(22,238)	$	(159,224)	$	(46,041)

Schedule of 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:

		Fair Values
		September 30, 2022				December 31, 2021
		Derivative		Derivative		Derivative		Derivative
Type	Balance Sheet Location	Assets		Liabilities		Assets		Liabilities
Interest rate contracts	Derivative assets/liabilities – current	$	—	$	—	$	—	$	1,480
Commodity contracts	Derivative assets/liabilities – current	30,725		75,327		11,478		48,892
Interest rate contracts	Derivative assets/liabilities – non-current	—		—		—		—
Commodity contracts	Derivative assets/liabilities – non-current	6,176		12,748		2,092		23,815
		$	36,901	$	88,075	$	13,570	$	74,187