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v3.21.1

SUBSEQUENT EVENTS (Tables) | 3 Months Ended
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Mar. 31, 2021
Subsequent Events [Abstract] |
Schedule of Natural Gas Basis Swap Positions | Below is a summary of the Company's basis swap positions as of March 31, 2021.
| Gulfport Pays |  | Gulfport Receives |  | Daily Volume (MMBtu/day) |  | Weighted Average Fixed Spread
Remaining 2021 | Rex Zone 3 |  | NYMEX Plus Fixed Spread |  | 85,309 |  |  | $ | (0.22) |
Remaining 2021 | Tetco M2 |  | NYMEX Plus Fixed Spread |  | 32,384 |  |  | $ | (0.63) |
2022 | Rex Zone 3 |  | NYMEX Plus Fixed Spread |  | 14,795 |  |  | $ | (0.10) |
Subsequent to March 31, 2021 and as of April 30, 2021, the Company entered into the following natural gas and oil derivative contracts as it completed minimum hedging requirements as provided for in the RSA:
Period |  | Type of Derivative Instrument |  | Index |  | Daily Volume(1) |  | Weighted Average Price
November 2021 - March 2022 |  | Basis Swaps |  | Rex Zone 3 |  | 40,000 |  |  | $ | (0.10) |
April 2022 - December 2022 |  | Costless Collars |  | NYMEX Henry Hub |  | 139,773 |  |  | $2.40/$2.60
January 2022 - December 2022 |  | Costless Collars |  | NYMEX WTI |  | 1,500 |  |  | $55.00/$60.00
(1) Volume units for gas instruments are presented as MMBtu/day and oil 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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