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Derivative and Hedging Activities (Tables) | 3 Months Ended
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Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Estimated Fair Values of Our Natural Gas and Oil Derivative Instrument Assets (Liabilities) | The estimated fair values of our natural gas and oil derivative instrument assets (liabilities) as of March 31, 2024 and December 31, 2023 are provided below:
|  | March 31, 2024 |  | December 31, 2023
|  | Notional Volume |  | Fair Value |  | Notional Volume |  | Fair Value
Natural gas (Bcf): |  |  |  |  |  |  |  |
Fixed-price swaps |  | 314 |  |  | $ | 199 |  |  | 343 |  |  | $ | 188 |
Collars |  | 511 |  |  | 451 |  |  | 558 |  |  | 497 |
Basis protection swaps |  | 489 |  |  | (51) |  |  | 578 |  |  | 2 |
Total natural gas |  | 1,314 |  |  | 599 |  |  | 1,479 |  |  | 687 |
Contingent Consideration: |  |  |  |  |  |  |  |
Eagle Ford divestiture |  |  |  | 33 |  |  |  |  | 12 |
Total estimated fair value |  |  |  | $ | 632 |  |  |  |  | $ | 699 |
Schedule of Effect of Derivative Instruments, Condensed Consolidated Balance Sheets | The following table presents the fair value and location of each classification of derivative instrument included in the condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023 on a gross basis and after same-counterparty netting:
|  | Gross Fair Value(a) |  | Amounts Netted in the Condensed Consolidated Balance Sheets |  | Net Fair Value Presented in the Condensed Consolidated Balance Sheets
As of March 31, 2024 |  |  |  |  |  |
Commodity Contracts: |  |  |  |  |  |
Short-term derivative asset |  | $ | 630 |  |  | $ | (71) |  |  | $ | 559 |
Long-term derivative asset |  | 62 |  |  | (16) |  |  | 46 |
Short-term derivative liability |  | (76) |  |  | 71 |  |  | (5) |
Long-term derivative liability |  | (17) |  |  | 16 |  |  | (1) |
Contingent Consideration: |  |  |  |  |  |
Short-term derivative asset |  | 33 |  |  | — |  |  | 33 |
Total derivatives |  | $ | 632 |  |  | $ | — |  |  | $ | 632 |
As of December 31, 2023 |  |  |  |  |  |
Commodity Contracts: |  |  |  |  |  |
Short-term derivative asset |  | $ | 661 |  |  | $ | (36) |  |  | $ | 625 |
Long-term derivative asset |  | 101 |  |  | (27) |  |  | 74 |
Short-term derivative liability |  | (39) |  |  | 36 |  |  | (3) |
Long-term derivative liability |  | (36) |  |  | 27 |  |  | (9) |
Contingent Consideration: |  |  |  |  |  |
Short-term derivative asset |  | 12 |  |  | — |  |  | 12 |
Total derivatives |  | $ | 699 |  |  | $ | — |  |  | $ | 699 |
___________________________________________ (a)These financial assets (liabilities) are measured at fair value on a recurring basis utilizing significant other observable inputs; see further discussion on fair value measurements below.

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
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