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SUBSEQUENT EVENTS (Tables)

3 Months Ended

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

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- References

No definition available.

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