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Derivative Instruments (Tables) | 6 Months Ended
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Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Derivative Instruments | The total notional amounts of CNX's derivative instruments were as follows:
| June 30, |  | December 31, |  | Forecasted to
| 2022 |  | 2021 |  | Settle Through
Natural Gas Commodity Swaps (Bcf) | 1,715.6 |  |  | 1,686.1 |  |  | 2027
Natural Gas Basis Swaps (Bcf) | 1,259.5 |  | * | 1,233.3 |  |  | 2027
Interest Rate Swaps | $ | 410,000 |  |  | $ | 410,000 |  |  | 2024
*Net of purchased natural gas basis swaps of 9.0 Bcf.
Schedule of Derivative Assets at Fair Value | The gross fair value of CNX's derivative instruments was as follows:
| June 30, |  | December 31,
| 2022 |  | 2021
Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Commodity Swaps | $ | 3,974 |  |  | $ | 92 |
Basis Only Swaps | 125,654 |  |  | 94,682 |
Interest Rate Swaps | 7,864 |  |  | 228 |
Total Current Assets | $ | 137,492 |  |  | $ | 95,002 |
Other Non-Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Commodity Swaps | $ | 26,444 |  |  | $ | 12,419 |
Basis Only Swaps | 387,508 |  |  | 119,077 |
Interest Rate Swaps | 6,339 |  |  | 498 |
Total Other Non-Current Assets | $ | 420,291 |  |  | $ | 131,994 |
Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Commodity Swaps | $ | 1,152,278 |  |  | $ | 505,460 |
Basis Only Swaps | 51,463 |  |  | 13,206 |
Interest Rate Swaps | 6,974 |  |  | 2,932 |
Total Current Liabilities | $ | 1,210,715 |  |  | $ | 521,598 |
Non-Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Commodity Swaps | $ | 1,864,954 |  |  | $ | 642,442 |
Basis Only Swaps | 29,121 |  |  | 41,332 |
Interest Rate Swaps | 5,661 |  |  | 3,580 |
Total Non-Current Liabilities | $ | 1,899,736 |  |  | $ | 687,354 |
Schedule of Derivative Liabilities at Fair Value | The gross fair value of CNX's derivative instruments was as follows:
| June 30, |  | December 31,
| 2022 |  | 2021
Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Commodity Swaps | $ | 3,974 |  |  | $ | 92 |
Basis Only Swaps | 125,654 |  |  | 94,682 |
Interest Rate Swaps | 7,864 |  |  | 228 |
Total Current Assets | $ | 137,492 |  |  | $ | 95,002 |
Other Non-Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Commodity Swaps | $ | 26,444 |  |  | $ | 12,419 |
Basis Only Swaps | 387,508 |  |  | 119,077 |
Interest Rate Swaps | 6,339 |  |  | 498 |
Total Other Non-Current Assets | $ | 420,291 |  |  | $ | 131,994 |
Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Commodity Swaps | $ | 1,152,278 |  |  | $ | 505,460 |
Basis Only Swaps | 51,463 |  |  | 13,206 |
Interest Rate Swaps | 6,974 |  |  | 2,932 |
Total Current Liabilities | $ | 1,210,715 |  |  | $ | 521,598 |
Non-Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Commodity Swaps | $ | 1,864,954 |  |  | $ | 642,442 |
Basis Only Swaps | 29,121 |  |  | 41,332 |
Interest Rate Swaps | 5,661 |  |  | 3,580 |
Total Non-Current Liabilities | $ | 1,899,736 |  |  | $ | 687,354 |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position | The effect of commodity derivative instruments on the Company's Consolidated Statements of Income was as follows:
|  | For the Three Months Ended |  | For the Six Months Ended
|  | June 30, |  | June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Cash (Paid) Received in Settlement of Commodity Derivative Instruments: |  |  |  |  |  |  |  |
Natural Gas: |  |  |  |  |  |  |  |
Commodity Swaps |  | $ | (558,374) |  |  | $ | (16,492) |  |  | $ | (830,193) |  |  | $ | (9,942) |
Basis Swaps |  | 27,983 |  |  | 6,133 |  |  | 28,961 |  |  | 1,988 |
Total Cash Paid in Settlement of Commodity Derivative Instruments |  | (530,391) |  |  | (10,359) |  |  | (801,232) |  |  | (7,954) |
Unrealized (Loss) Gain on Commodity Derivative Instruments: |  |  |  |  |  |  |  |
Natural Gas: |  |  |  |  |  |  |  |
Commodity Swaps |  | (197,309) |  |  | (629,688) |  |  | (1,851,422) |  |  | (727,147) |
Basis Swaps |  | 75,057 |  |  | 101,188 |  |  | 273,618 |  |  | 229,656 |
Total Unrealized Loss on Commodity Derivative Instruments |  | (122,252) |  |  | (528,500) |  |  | (1,577,804) |  |  | (497,491) |
(Loss) Gain on Commodity Derivative Instruments: |  |  |  |  |  |  |  |
Natural Gas: |  |  |  |  |  |  |  |
Commodity Swaps |  | (755,683) |  |  | (646,180) |  |  | (2,681,615) |  |  | (737,089) |
Basis Swaps |  | 103,040 |  |  | 107,321 |  |  | 302,579 |  |  | 231,644 |
Total Loss on Commodity Derivative Instruments |  | $ | (652,643) |  |  | $ | (538,859) |  |  | $ | (2,379,036) |  |  | $ | (505,445) |
The effect of interest rate swaps on Interest Expense in the Company's Consolidated Statements of Income was as follows:
|  | For the Three Months Ended |  | For the Six Months Ended
|  | June 30, |  | June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Cash Paid in Settlement of Interest Rate Swaps |  | $ | (763) |  |  | $ | (1,240) |  |  | $ | (1,700) |  |  | $ | (2,467) |
Unrealized Gain on Interest Rate Swaps |  | 2,131 |  |  | 465 |  |  | 7,353 |  |  | 4,659 |
Gain (Loss) on Interest Rate Swaps |  | $ | 1,368 |  |  | $ | (775) |  |  | $ | 5,653 |  |  | $ | 2,192 |

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