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SUBSEQUENT EVENTS (Tables)

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Schedule of Natural Gas Basis Swap Positions

Below is a summary of the Company's natural gas basis swap positions as of September 30, 2021.

Gulfport Pays

Gulfport Receives

Daily Volume

Weighted Average Fixed Spread

Natural Gas

(MMBtu/d)

($/MMBtu)

Remaining 2021

Rex Zone 3

NYMEX Plus Fixed Spread

83,152

$

(0.12)

2022

Rex Zone 3

NYMEX Plus Fixed Spread

24,658

$

(0.10)

Subsequent to September 30, 2021 and as of October 28, 2021, the Company entered into the following natural gas derivative contracts:

Type of Derivative Instrument

Index

Daily Volume

Weighted Average Price

Natural Gas

(MMBtu/d)

($/MMBtu)

November 2021 - December 2021

Basis Swap

ONG Minus Inside FERC

20,000

$0.50

January 2022 - March 2022

Basis Swap

ONG Minus Inside FERC

20,000

$0.50

January 2023 - December 2023

Fixed price swap

NYMEX Henry Hub

30,000

$3.58

X

- 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=125515794&loc=SL5579245-113959

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- References

No definition available.

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