XML 45 R33.htm IDEA: XBRL DOCUMENT
v3.26.1

Derivative Financial Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Oil Derivative Contracts and Interest Rate Swap | The following table sets forth the volumes in barrels underlying the Company’s outstanding oil derivative contracts and the weighted average prices per Bbl for those contracts as of June 30, 2026. Volumes and weighted average prices are net of any offsetting derivative contracts entered into.
|  |  |  |  |  |  |  | Weighted Average Price per Bbl |
|  |  |  |  |  |  |  | Net Deferred |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Premium |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Payable/ |  |  |  | Sold |  |  |  |  |  |
Term |  | Type of Contract |  | Index |  | MBbl |  | (Receivable) |  | Swap |  | Put |  | Floor |  | Ceiling |  |
2026: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Jul - Dec |  | Three-way collars |  | Dated Brent |  | 1,000 |  |  | — |  |  | — |  |  | 50.00 |  |  | 60.00 |  |  | 75.51 |  |  |
Jul - Dec |  | Swaps(1) |  | Dated Brent |  | 500 |  |  | — |  |  | 72.46 |  |  | — |  |  | — |  |  | 100.00 |  |  |
Jul - Dec |  | Swaps(1) |  | Dated Brent |  | 1,000 |  |  | — |  |  | 69.70 |  |  | 55.00 |  |  | — |  |  | — |  |  |
Jul - Dec |  | Swaps(1) |  | NYMEX WTI |  | 750 |  |  | — |  |  | 64.83 |  |  | 50.00 |  |  | — |  |  | — |  |  |
2027: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Jan - Dec |  | Three-way collars |  | Dated Brent |  | 2,000 |  |  | 0.40 |  |  | — |  |  | 47.50 |  |  | 60.00 |  |  | 75.00 |  |  |
Jan - Jun |  | Three-way collars |  | Dated Brent |  | 2,000 |  |  | 0.03 |  |  | — |  |  | 55.00 |  |  | 70.00 |  |  | 85.00 |  |  |
Jan - Dec |  | Three-way collars |  | NYMEX WTI |  | 1,000 |  |  | 0.50 |  |  | — |  |  | 55.00 |  |  | 70.00 |  |  | 90.00 |  |  |
__________________________________ (1)Includes option contracts sold to counterparties to enhance Swaps.
Schedule of Derivative Instruments by Balance Sheet Location | The following tables disclose the Company’s derivative instruments as of June 30, 2026 and December 31, 2025, and gain/(loss) from derivatives during the three and six months ended June 30, 2026 and 2025, respectively:
|  |  |  | Estimated Fair Value |  |
|  |  |  | Asset (Liability) |  |
Type of Contract |  | Balance Sheet Location |  | June 30, 2026 |  | December 31, 2025 |  |
|  |  |  | (In thousands) |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Derivative assets: |  |  |  |  |  |  |  |
Commodity |  | Derivatives assets—current |  | $ | 459 |  |  | $ | 47,816 |  |  |
Provisional sales contracts |  | Receivables: Oil and gas sales |  | 857 |  |  | — |  |  |
Commodity |  | Derivatives assets—long-term |  | 2,335 |  |  | 2,681 |  |  |
Derivative liabilities: |  |  |  |  |  |  |  |
Commodity |  | Derivatives liabilities—current |  | (11,633) |  |  | — |  |  |
Commodity |  | Derivatives liabilities—long-term |  | (5,129) |  |  | — |  |  |
Total derivatives not designated as hedging instruments |  |  |  | $ | (13,111) |  |  | $ | 50,497 |  |  |
Schedule of Derivative Instruments by Location of Gain/(Loss) |
|  |  |  | Amount of Gain/(Loss) |  | Amount of Gain/(Loss)
|  |  |  | Three Months Ended |  | Six Months Ended
|  |  |  | June 30, |  | June 30,
Type of Contract |  | Location of Gain/(Loss) |  | 2026 |  | 2025 |  | 2026 |  | 2025
|  |  |  | (In thousands)
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Provisional sales contracts |  | Oil and gas revenue |  | $ | (11,126) |  |  | $ | (6,780) |  |  | $ | (62,105) |  |  | $ | (7,607) |
Commodity |  | Derivatives, net |  | 51,809 |  |  | 21,566 |  |  | (200,187) |  |  | 14,834 |
Interest rate |  | Interest expense |  | — |  |  | 683 |  |  | — |  |  | 656 |
Total derivatives not designated as hedging instruments |  |  |  | $ | 40,683 |  |  | $ | 15,469 |  |  | $ | (262,292) |  |  | $ | 7,883 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of price risk derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfPriceRiskDerivativesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration