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v3.23.1

SUBSEQUENT EVENTS (Tables) | 3 Months Ended
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Mar. 31, 2023
Subsequent Events [Abstract] |
Schedule of Natural Gas Basis Swap Positions | In addition, the Company has entered into natural gas basis swap positions. These instruments are arrangements that guarantee a fixed price differential to NYMEX Henry Hub from a specified delivery point. The Company receives the fixed price differential and pays the floating market price differential to the counterparty for the hedged community. As of March 31, 2023, 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)
Remaining 2023 | Rex Zone 3 |  | NYMEX Plus Fixed Spread |  | 140,000 |  |  | $ | (0.22) |
Remaining 2023 | NGPL TXOK |  | NYMEX Plus Fixed Spread |  | 80,000 |  |  | $ | (0.35) |
Remaining 2023 | TETCO M2 |  | NYMEX Plus Fixed Spread |  | 170,145 |  |  | $ | (0.91) |
2024 | Rex Zone 3 |  | NYMEX Plus Fixed Spread |  | 70,000 |  |  | $ | (0.15) |
2024 | NGPL TXOK |  | NYMEX Plus Fixed Spread |  | 60,000 |  |  | $ | (0.31) |
2024 | TETCO M2 |  | NYMEX Plus Fixed Spread |  | 69,945 |  |  | $ | (0.89) |
Subsequent to March 31, 2023 as of April 26, 2023, the Company entered into the following derivative contracts:
Period |  | Type of Derivative Instrument |  | Index |  | Daily Volume (MMBtu) |  | Weighted Average Price
2023 |  | Basis Swaps |  | TETCO M2 |  | 13,382 |  |  | $(0.88)
2024 |  | Basis Swaps |  | Rex Zone 3 |  | 20,000 |  |  | $(0.15)
2025 |  | Swaps |  | NYMEX Henry Hub |  | 50,000 |  |  | $4.08

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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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 + Details
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- References No definition available. + Details
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