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Subsequent Events (Tables) | 12 Months Ended
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Dec. 31, 2020
Subsequent Events [Abstract] |
Schedule of natural gas basis swap positions | As of December 31, 2020, the Company had the following natural gas basis swap positions open:
| Gulfport Pays |  | Gulfport Receives |  | Daily Volume (MMBtu/day) |  | Weighted Average Fixed Spread
2021 | Rex Zone 3 |  | NYMEX Plus Fixed Spread |  | 35,000 |  |  | $ | (0.21) |
2021 | Tetco M2 |  | NYMEX Plus Fixed Spread |  | 60,000 |  |  | $ | (0.67) |
Subsequent to December 31, 2020 and as of March 1, 2021, the Company entered into the following natural gas, oil, and NGL derivative contracts as it works toward fulfilling minimum hedging requirements as provided for in the RSA:
Period |  | Type of Derivative Instrument |  | Index |  | Daily Volume(1) |  | Weighted Average Price
July 2021 - December 2021 |  | Swaps |  | NYMEX WTI |  | 2,250 |  |  | $53.07
July 2021 - December 2021 |  | Swaps |  | Mont Belvieu C3 |  | 3,100 |  |  | $27.80
January 2022 - June 2022 |  | Swaps |  | Mont Belvieu C3 |  | 1,000 |  |  | $27.30
April 2021 - May 2021 |  | Basis Swaps |  | Tetco M2 |  | 36,443 |  |  | $(0.61)
February 2021 - October 2021 |  | Basis Swaps |  | Rex Zone 3 |  | 94,505 |  |  | $(0.22)
July 2021 - December 2021 |  | Costless Collars |  | NYMEX Henry Hub |  | 210,000 |  |  | $2.67/$3.15
January 2022 - March 2022 |  | Costless Collars |  | NYMEX Henry Hub |  | 340,000 |  |  | $2.82/$3.40
(1) Volume units for gas instruments are presented as MMBtu/day while oil and NGL is presented in Bbls/day.

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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 + Details
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