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Derivative Financial Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Gas Derivative Contracts Volume and Prices
The Company had the following outstanding commodity-based derivative financial instruments, excluding basis swaps which are discussed separately below, at December 31, 2020:
20212022Total
Natural Gas Swap Contracts:
Volume (MMBtu)197,383,140 
(1)
10,950,000 208,333,140 
Average Price per MMBtu$2.54 
(1)
$2.53 $2.54 
Natural Gas Collar Contracts:
Volume (MMBtu)115,050,000 5,400,000 120,450,000 
Price per MMBtu:
Average Ceiling$2.97 $3.48 $2.99 
Average Floor$2.46 $2.53 $2.46 
Natural Gas Swaptions Contracts:
Volume (MMBtu)16,500,000 
(2)
49,200,000 
(3)
65,700,000 
Average Price per MMBtu$2.50 
(2)
$2.51 
(3)
$2.51 
Crude Oil Collar Contracts:
Volume (Bbls)182,500 — 182,500 
Price per Barrel:
Average Ceiling$45.00 $— $45.00 
Average Floor$40.00 $— $40.00 
_______________
(1)2021 natural gas price swap contracts include 49,200,000 MMBtu at an average price of $2.51 that are part of certain natural gas price swaption contracts which include a call to extend the price swap by the counterparty as described in (3) below.
(2)The counterparties have the right to exercise a call option, which expires in March 2021, to enter into a price swap with the Company on 16,500,000 MMBtu in 2021 at an average price of $2.50.
(3)The counterparties have the right to exercise a call option to enter into a price swap with the Company on 49,200,000 MMBtu in 2022 at an average price of $2.51. The call option expires for 5,400,000 MMBtu at an average price of $2.50 in March 2021; for 36,500,000 MMBtu at an average price of $2.52 in October 2021 and 7,300,000 MMBtu at an average price of $2.50 in November 2021.
Schedule of Derivative Instruments
The aggregate fair value of the Company's derivative financial instruments are presented on a gross basis in the accompanying consolidated balance sheets. The classification of derivative financial instruments between assets and liabilities, consists of the following:
As of December 31,
TypeConsolidated Balance Sheet Location20192020
(in thousands)
Asset Derivative Financial Instruments:
Natural gas price derivativesDerivative Financial Instruments  – current$75,123 $8,913 
Oil price derivativesDerivative Financial Instruments  – current181 — 
$75,304 $8,913 
Natural gas price derivativesDerivative Financial Instruments  – long-term$13,888 $661 
Liability Derivative Financial Instruments:
Natural gas price derivativesDerivative Financial Instruments  – current$— $45,158 
Oil price derivativesDerivative Financial Instruments  – current222 831 
Interest rate derivativesDerivative Financial Instruments  – current— 1,016 
$222 $47,005 
Natural gas price derivativesDerivative Financial Instruments  – long-term$4,220 $1,308 
Oil price derivativesDerivative Financial Instruments  – long-term— — 
Interest rate derivativesDerivative Financial Instruments  – long-term— 1,056 
$4,220 $2,364 
Schedule of Gains and Losses from Derivative Financial Instruments
Gains and losses related to the change in the fair value of the Company's derivative contracts recognized in the consolidated statement of operations were as follows:
PredecessorSuccessor
Gain/(Loss)
Recognized in Earnings on
Derivatives		For the Period
from January 1,
2018  through
August 13, 2018		For the Period
from August 14,
2018 through
December 31, 2018
Year Ended December 31, 2019
Year Ended
December 31, 2020
(In thousands)
Natural gas price derivatives$881 $528 $60,694 $353 
Oil price derivatives— 9,937 (8,959)12,059 
Interest rate derivatives— — — (2,461)
$881 $10,465 $51,735 $9,951