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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Activity by Volume
The following table sets forth the Company’s outstanding commodity derivative contracts as of September 30, 2024.
Q4 202420252026
Collar (oil)
Volume (Bbl)311,4961,898,739—
Weighted-average floor price ($/Bbl)$64.13 $60.93 $— 
Weighted-average ceiling price ($/Bbl)$84.97 $79.86 $— 
Swaps (oil)
Volume (Bbl)128,277——
Weighted-average price ($/Bbl)$79.30 $— $— 
Collar (natural gas)
Volume (Mcf)1,899,0009,439,8297,650,176
Weighted-average floor price ($/Mcf)$3.50 $3.15 $3.28 
Weighted-average ceiling price ($/Mcf)$5.12 $4.13 $4.01 
Swaps (natural gas)
Volume (Mcf)1,895,5882,585,050656,000
Weighted-average price ($/Mcf)$3.55 $3.18 $3.31 
Schedule of Commodity Derivatives Reported in Earnings
The following table summarizes the amounts reported in the condensed consolidated statements of operations related to the commodity derivative instruments for the three and nine months ended September 30, 2024 and 2023:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2024202320242023
Gain (loss) on commodity derivatives
Oil derivatives$8,423 $(9,808)$1,863 $(4,906)
Natural gas derivatives3,418 1,679 6,032 11,321 
Total$11,841 $(8,129)$7,895 $6,415 
Schedule of Net Cash Receipts (Payments on) Commodity Derivatives
The following table represents the Company’s net cash receipts from commodity derivatives for the three and nine months ended September 30, 2024 and 2023:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2024 202320242023
Net cash receipts from commodity derivatives
Oil derivatives$637 $119 $358 $3,912 
Natural gas derivatives5,092 4,300 12,031 14,918 
Total$5,729 $4,419 $12,389 $18,830