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SUBSEQUENT EVENTS (Tables)
 3 Months Ended
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 PaysGulfport ReceivesDaily VolumeWeighted Average Fixed Spread
Natural Gas(MMBtu/d)($/MMBtu)
Remaining 2023Rex Zone 3NYMEX Plus Fixed Spread140,000 $(0.22)
Remaining 2023NGPL TXOKNYMEX Plus Fixed Spread80,000 $(0.35)
Remaining 2023TETCO M2NYMEX Plus Fixed Spread170,145 $(0.91)
2024Rex Zone 3NYMEX Plus Fixed Spread70,000 $(0.15)
2024NGPL TXOKNYMEX Plus Fixed Spread60,000 $(0.31)
2024TETCO M2NYMEX Plus Fixed Spread69,945 $(0.89)
Subsequent to March 31, 2023 as of April 26, 2023, the Company entered into the following derivative contracts:
PeriodType of Derivative InstrumentIndexDaily Volume (MMBtu)Weighted
Average Price
2023Basis SwapsTETCO M213,382 $(0.88)
2024Basis SwapsRex Zone 320,000 $(0.15)
2025SwapsNYMEX Henry Hub50,000 $4.08