Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity Derivative Positions

The following table sets forth our commodity derivative contracts as of December 31, 2022:

Commodity Derivatives	1Q2023		2Q2023		3Q2023		4Q2023		1Q2024		2Q2024
NYMEX WTI Crude Swaps
Average Volume Per Day (bbl)	2,500		2,400		2,807		2,657		462		462
Weighted Average Swap Price ($/bbl)	$	54.4	$	54.26	$	54.92	$	54.93	$	58.75	$	58.75
NYMEX WTI Crude Collars
Average Volume Per Day (bbl)	20,972		12,775		13,043		8,967
Weighted Average Purchased Put Price ($/bbl)	$	67.75	$	63.23	$	73.13	$	72.27
Weighted Average Sold Call Price ($/bbl)	$	83.64	$	75.69	$	89.07	$	87.57
NYMEX HH Swaps
Average Volume Per Day (MMBtu)	10,000		7,500
Weighted Average Swap Price ($/MMBtu)	$	3.620	$	3.690
NYMEX HH Collars
Average Volume Per Day (MMBtu)	14,617		11,538		11,413		11,413		11,538		11,538
Weighted Average Purchased Put Price ($/MMBtu)	$	6.561	$	2.500	$	2.500	$	2.500	$	2.500	$	2.328
Weighted Average Sold Call Price ($/MMBtu)	$	12.334	$	2.682	$	2.682	$	2.682	$	3.650	$	3.000
HSC Basis Swaps
Average Volume Per Day (MMBtu)	24,617		19,038		11,413		11,413
HSC Basis Average Fixed Price ($/MMBtu)	$	(0.153)	$	(0.153)	$	(0.153)	$	(0.153)
OPIS Mt. Belvieu Ethane Swaps
Average Volume per Day (gal)			98,901		34,239		34,239		34,615
Weighted Average Fixed Price ($/gal)			$	0.2288	$	0.2275	$	0.2275	$	0.2275

Impact of Derivative Activities on Condensed Consolidated Statements of Income

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

	Year Ended December 31,
	2022		2021		2020
Interest Rate Swap gains (losses) recognized in the consolidated statements of operations	$	64	$	(2)	$	(7,510)
Commodity gains (losses) recognized in the consolidated statements of operations	(162,736)		(136,997)		95,932
	$	(162,672)	$	(136,999)	$	88,422
Interest rate cash settlements recognized in the consolidated statements of cash flows	$	(1,415)	$	(3,822)	$	(2,210)
Commodity cash settlements and premiums received (paid) recognized in the consolidated statements of cash flows	(181,963)		(77,099)		80,297
Commodity cash settlements paid for acquired derivatives recognized in the consolidated statements of cash flows	—		(49,554)		—
	$	(183,378)	$	(130,475)	$	78,087

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 a gross basis, as well as the locations of these instruments on our consolidated balance sheets as of the dates presented:

		Fair Values
		December 31, 2022				December 31, 2021
Type	Balance Sheet Location	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
Interest rate contracts	Derivative assets/liabilities – current	$	—	$	—	$	—	$	1,480
Commodity contracts	Derivative assets/liabilities – current	29,714		67,933		11,478		48,892
Commodity contracts	Derivative assets/liabilities – non-current	316		3,416		2,092		23,815
		$	30,030	$	71,349	$	13,570	$	74,187