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Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Gas Derivative Contracts Volume and Prices

The Company had the following outstanding natural gas price derivative financial instruments at December 31, 2021:

			Future Production Period Ending December 31,
			2022									2023						Total
Natural Gas Swap Contracts:
Volume (MMBtu)			121,300,000									—						121,300,000
Average Price per MMBtu			$2.67															$2.67
Natural Gas Collar Contracts:
Volume (MMBtu)			140,925,000									6,750,000						147,675,000
Price per MMBtu:
Average Ceiling			$3.91									$4.03						$3.92
Average Floor			$2.62									$2.67						$2.63
Natural Gas Basis Swap Contracts:
Volume (MMBtu)			10,950,000			(1)						—						10,950,000
Average Price per MMBtu			($0.16)			(1)												($0.16)

_______________

(1)Contracts fix the differentials between NYMEX Henry Hub and the Columbia Gulf Mainline indices.

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,
Type						Consolidated Balance Sheet Location						2021						2020
												(in thousands)
Asset Derivative Financial Instruments:
Natural gas price derivatives						Derivative Financial Instruments  – current						$	4,528					$	8,913
Oil price derivatives						Derivative Financial Instruments  – current						730						—
												$	5,258					$	8,913
Natural gas price derivatives						Derivative Financial Instruments  – long-term						$	—					$	661
Liability Derivative Financial Instruments:
Natural gas price derivatives						Derivative Financial Instruments  – current						$	181,215					$	45,158
Oil price derivatives						Derivative Financial Instruments  – current						730						831
Interest rate derivatives						Derivative Financial Instruments  – current						—						1,016
												$	181,945					$	47,005
Natural gas price derivatives						Derivative Financial Instruments  – long-term						$	4,042					$	1,308
Interest rate derivatives						Derivative Financial Instruments  – long-term						—						1,056
												$	4,042					$	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:

						Year Ended December 31,
Gain/(Loss) Recognized in Earnings on Derivatives						2021						2020						2019
						(In thousands)
Natural gas price derivatives						$	(555,636)					$	353					$	60,694
Oil price derivatives						(7,247)						12,059						(8,959)
Interest rate derivatives						2,235						(2,461)						—
						$	(560,648)					$	9,951					$	51,735

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