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Derivative Instruments (Tables)

9 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table summarizes the open financial derivative positions as of June 30, 2022, related to oil and natural gas production:

												Weighted Average Price
Calendar Quarter / Year						Notional Volume						Fixed						Put						Call
												($ per unit)
Oil Swaps (Bbl)
Q3 2022						270,000						$	56.03					$	—					$	—
Q4 2022						270,000						$	56.03					$	—					$	—
2023						720,000						$	53.27					$	—					$	—
Natural Gas Swaps (Mcf)
Q3 2022						540,000						$	3.26					$	—					$	—
Q4 2022						540,000						$	3.26					$	—					$	—
Oil Collars (Bbl)
Q3 2022						117,000						$	—					$	37.31					$	59.43
Q4 2022						90,000						$	—					$	35.00					$	42.63
2023						—						$	—					$	—					$	—
2024						3,000						$	—					$	50.00					$	88.00
Oil Basis (Bbl)
Q3 2022						240,000						$	0.41					$	—					$	—
Q4 2022						240,000						$	0.41					$	—					$	—

The following table summarizes the open interest rate derivative positions as of June 30, 2022:

Open Coverage Period						Notional Amount						Fixed Rate
						(In thousands)
Floating-to-Fixed Interest Rate Swaps
July 2022 - September 2023						$	40,000					0.24		%

Schedule of Derivative Instruments Location and Fair Value

The following table presents the location and fair value of the Company’s derivative contracts included in the condensed consolidated balance sheets as of June 30, 2022 and September 30, 2021:

						June 30, 2022
Balance Sheet Classification						Gross Fair Value						Amounts Netted						Net Fair Value
						(In thousands)
Current derivative assets						$	1,161					$	(27)					$	1,134
Non-current derivative assets						313						(13)						300
Current derivative liabilities						(50,325)						27						(50,298)
Non-current derivative liabilities						(9,135)						13						(9,122)
Total						$	(57,986)					$	—					$	(57,986)
						September 30, 2021
Balance Sheet Classification						Gross Fair Value						Amounts Netted						Net Fair Value
						(In thousands)
Current derivative assets						$	186					$	(186)					$	—
Non-current derivative assets						228						(122)						106
Current derivative liabilities						(42,330)						186						(42,144)
Non-current derivative liabilities						(9,054)						122						(8,932)
Total						$	(50,970)					$	—					$	(50,970)

Derivative Instruments, Gain (Loss)

The following table presents the components of the Company's loss on derivatives for the three and nine months ended June 30, 2022 and 2021:

			Three Months Ended June 30,												Nine Months Ended June 30,
			2022						2021						2022						2021
			(In thousands)
Settlements on derivative contracts			$	(25,783)					$	(7,712)					$	(60,172)					$	(5,133)
Non-cash gain (loss) on derivatives			13,420						(27,684)						(7,016)						(69,075)
Loss on derivatives			$	(12,363)					$	(35,396)					$	(67,188)					$	(74,208)

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- References

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 4C
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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959

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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)
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