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FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Summary of the valuation of the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis

The following tables summarize the valuation of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis in accordance with the classifications provided above as of June 30, 2024 and December 31, 2023 (in thousands).

						Fair Value Measurements at  June 30, 2024 using
Description						Level 1						Level 2						Level 3						Total
Assets (Liabilities)
Oil costless collars						$	—					$	(14,704)					$	—					$	(14,704)
Natural gas basis differential swaps						—						7,620						—						7,620
Total						$	—					$	(7,084)					$	—					$	(7,084)

						Fair Value Measurements at December 31, 2023 using
Description						Level 1						Level 2						Level 3						Total
Assets (Liabilities)
Natural gas basis differential swaps						$	—					$	2,670					$	—					$	2,670
Total						$	—					$	2,670					$	—					$	2,670

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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