XML 50 R34.htm IDEA: XBRL DOCUMENT
v3.20.4

Derivative Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Outstanding Financial Commodity Derivatives | As of December 31, 2020, the Company had the following outstanding financial commodity derivatives:
|  |  |  |  |  | Collars |  |  |  |
|  |  |  |  |  | Floor |  | Ceiling |  | Swaps |  |
Type of Contract |  | Volume (Mmbtu) |  | Contract Period |  | Range ($/Mmbtu) |  | Weighted-Average ($/Mmbtu) |  | Range ($/Mmbtu) |  | Weighted- Average ($/Mmbtu) |  | Weighted- Average ($/Mmbtu) |  |
Natural gas (NYMEX) |  | 18,250,000 |  |  | Jan. 2021-Dec. 2021 |  |  |  |  |  |  |  |  |  | $ | 2.74 |  |  |
Natural gas (NYMEX) |  | 164,250,000 |  |  | Jan. 2021-Dec. 2021 |  | $2.50 - $2.85 |  | $ | 2.68 |  |  | $2.83 - $3.94 |  | $ | 3.09 |  |  |  |  |
Natural gas (NYMEX) |  | 10,700,000 |  |  | Apr. 2021-Oct. 2021 |  | $ | — |  |  | $ | 2.50 |  |  | $ | — |  |  | $ | 2.80 |  |  |  |  |
Natural gas (NYMEX) |  | 10,700,000 |  |  | Apr. 2021-Oct. 2021 |  |  |  |  |  |  |  |  |  | $ | 2.75 |  |  |
In early 2021, the Company entered into the following financial commodity derivatives:
|  |  |  |  |  | Swaps
Type of Contract |  | Volume (Mmbtu) |  | Contract Period |  | Weighted- Average ($/Mmbtu)
Natural gas (NYMEX) |  | 10,700,000 |  | Apr. 2021-Oct. 2021 |  | $ | 2.81 |
Effect of Derivative Instruments on Consolidated Balance Sheet | Effect of Derivative Instruments on the Consolidated Balance Sheet
|  |  |  | Fair Values of Derivative Instruments
|  |  |  | Derivative Assets |  | Derivative Liabilities
|  |  |  | December 31, |  | December 31,
(In thousands) |  | Balance Sheet Location |  | 2020 |  | 2019 |  | 2020 |  | 2019
Commodity contracts |  | Derivative instruments (current) |  | $ | 26,209 |  |  | $ | 31 |  |  | $ | — |  |  | $ | — |
Commodity contracts |  | Accrued liabilities |  | — |  |  | — |  |  | — |  |  | 9 |
Schedule of Offsetting Derivative Assets in Consolidated Balance Sheet | Offsetting of Derivative Assets and Liabilities in the Consolidated Balance Sheet
|  | December 31,
(In thousands) |  | 2020 |  | 2019
Derivative assets |  |  |  |
Gross amounts of recognized assets |  | $ | 26,354 |  |  | $ | 47 |
Gross amounts offset in the consolidated balance sheet |  | (145) |  |  | (16) |
Net amounts of assets presented in the consolidated balance sheet |  | 26,209 |  |  | 31 |
Gross amounts of financial instruments not offset in the consolidated balance sheet |  | — |  |  | — |
Net amount |  | $ | 26,209 |  |  | $ | 31 |
Derivative liabilities |  |  |  |
Gross amounts of recognized liabilities |  | $ | 145 |  |  | $ | 25 |
Gross amounts offset in the consolidated balance sheet |  | (145) |  |  | (16) |
Net amounts of liabilities presented in the consolidated balance sheet |  | — |  |  | 9 |
Gross amounts of financial instruments not offset in the consolidated balance sheet |  | — |  |  | — |
Net amount |  | $ | — |  |  | $ | 9 |
Schedule of Offsetting Derivative Liabilities in Consolidated Balance Sheet | Offsetting of Derivative Assets and Liabilities in the Consolidated Balance Sheet
|  | December 31,
(In thousands) |  | 2020 |  | 2019
Derivative assets |  |  |  |
Gross amounts of recognized assets |  | $ | 26,354 |  |  | $ | 47 |
Gross amounts offset in the consolidated balance sheet |  | (145) |  |  | (16) |
Net amounts of assets presented in the consolidated balance sheet |  | 26,209 |  |  | 31 |
Gross amounts of financial instruments not offset in the consolidated balance sheet |  | — |  |  | — |
Net amount |  | $ | 26,209 |  |  | $ | 31 |
Derivative liabilities |  |  |  |
Gross amounts of recognized liabilities |  | $ | 145 |  |  | $ | 25 |
Gross amounts offset in the consolidated balance sheet |  | (145) |  |  | (16) |
Net amounts of liabilities presented in the consolidated balance sheet |  | — |  |  | 9 |
Gross amounts of financial instruments not offset in the consolidated balance sheet |  | — |  |  | — |
Net amount |  | $ | — |  |  | $ | 9 |
Effect of Derivative Instruments on Consolidated Statement of Operations | Effect of Derivative Instruments on the Consolidated Statement of Operations
|  | Year Ended December 31,
(In thousands) |  | 2020 |  | 2019 |  | 2018
Cash received (paid) on settlement of derivative instruments |  |  |  |  |  |
Gain (loss) on derivative instruments |  | $ | 35,218 |  |  | $ | 138,450 |  |  | $ | (41,631) |
Non-cash gain (loss) on derivative instruments |  |  |  |  |  |
Gain (loss) on derivative instruments |  | 26,186 |  |  | (57,642) |  |  | 86,063 |
|  | $ | 61,404 |  |  | $ | 80,808 |  |  | $ | 44,432 |

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 derivative and other financial assets that are subject to offsetting, including master netting arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
Name: | us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
Name: | us-gaap_OffsettingLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL109998890-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration