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SUBSEQUENT EVENTS (Tables)

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Schedule of natural gas basis swap positions

As of December 31, 2021, the Company had the following natural gas basis swap positions open:

			Gulfport Pays						Gulfport Receives						Daily Volume						Weighted Average Fixed Spread
Natural Gas															(MMBtu/d)						($/MMBtu)
2022			Rex Zone 3						NYMEX Plus Fixed Spread						24,658						$	(0.10)
2022			ONG						NYMEX Plus Fixed Spread						7,397						$	0.50
2023			Rex Zone 3						NYMEX Plus Fixed Spread						10,000						$	(0.22)

Subsequent to December 31, 2021 and as of February 25, 2022, the Company entered into the following natural gas, oil, and NGL derivative contracts:

Period

Type of Derivative Instrument

Index

Daily Volume(1)

Weighted Average Price

January 2023 - December 2023

Swaps

NYMEX WTI

1,000

$69.78

January 2023 - December 2023

Swaps

NYMEX Henry Hub

40,082

$3.56

January 2023 - December 2023

Swaps

Mont Belvieu C3

1,000

$36.33

January 2023 - December 2023

Basis Swaps

Rex Zone 3

10,000

$(0.20)

(1)    Volumes for gas instruments are presented in MMBtu while oil and NGL volumes are presented in Bbls.

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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=125515794&loc=SL5579245-113959

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- References

No definition available.

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