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SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

Credit Facility Redetermination

On October 27, 2023, the Company completed its semi-annual borrowing base redetermination during which the borrowing base was reaffirmed at $1.1 billion with elected commitments remaining at $900 million.

Natural Gas, Oil and NGL Derivative Instruments

Subsequent to September 30, 2023, as of October 26, 2023, the Company entered into the following derivative contracts:

Period

Type of Derivative Instrument

Index

Daily Volume

Weighted Average Price

Natural Gas

(MMBtu/d)

($/MMBtu)

2024

Costless Collars

NYMEX Henry Hub

45,000

$3.10 / $3.77

2024

Basis Swaps

TETCO M2

50,000

$(0.99)

2025

Swaps

NYMEX Henry Hub

40,000

$4.04

NGL

(Bbl/d)

($/Bbl)

2024

Swaps

Mont Belvieu C3

500

$30.03

2025

Swaps

Mont Belvieu C3

1,000

$30.03

X

- References

No definition available.

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- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//855/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483399/855-10-50-2

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