XML 37 R22.htm IDEA: XBRL DOCUMENT
v3.25.3

Derivatives (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments, Gain (Loss) | The following table summarizes derivative activity (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
(Gain) loss on derivative contracts | $ | (2,364) |  |  | $ | (1,866) |  |  | $ | (5,936) |  |  | $ | (1,866) |
Settlement gains (losses) on derivative contracts | $ | 2,661 |  |  | $ | 199 |  |  | $ | 3,980 |  |  | $ | 199 |
Schedule of Offsetting Assets | The following table summarizes (i) the Company's commodity derivative contracts on a gross basis, (ii) the effects of netting assets and liabilities for which the right of offset exists based on master netting arrangements, (iii) the financial collateral, if any, associated with the Company’s commodity contracts, and (iv) the Company’s net derivative asset and liability positions as of September 30, 2025 (in thousands):
|  | Gross Amounts |  | Gross Amounts Offset |  | Amounts Net of Offset |  | Financial Collateral |  | Net Amount
Assets (Liabilities) |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 2,760 |  |  | $ | 344 |  |  | $ | 2,416 |  |  | $ | — |  |  | $ | 2,416 |
Derivative contracts - non-current |  | 78 |  |  | 339 |  |  | (261) |  |  | — |  |  | (261) |
Total |  | $ | 2,838 |  |  | $ | 683 |  |  | $ | 2,155 |  |  | $ | — |  |  | $ | 2,155 |
The following table summarizes (i) the Company's commodity derivative contracts on a gross basis, (ii) the effects of netting assets and liabilities for which the right of offset exists based on master netting arrangements, (iii) the financial collateral, if any, associated with the Company’s commodity derivative contracts, and (iv) the Company’s net derivative asset positions as of December 31, 2024 (in thousands):
|  | Gross Amounts |  | Gross Amounts Offset |  | Amounts Net of Offset |  | Financial Collateral |  | Net Amount
Assets |  |  |  |  |  |  |  |  |  |
Derivative contracts - current |  | $ | 744 |  |  | $ | 630 |  |  | $ | 114 |  |  | $ | — |  |  | $ | 114 |
Derivative contracts - non-current |  | 86 |  |  | — |  |  | 86 |  |  | — |  |  | 86 |
Total |  | $ | 830 |  |  | $ | 630 |  |  | $ | 200 |  |  | $ | — |  |  | $ | 200 |
Schedule of Derivative Contracts | As of September 30, 2025, the Company's open derivative contracts consisted of oil, natural gas, and NGL commodity derivative contracts as follows:
|  | Period |  | Index |  | Daily Volume |  | Weighted Average Price
Oil (Bbl) |  |  |  |  |  |  |  |
Fixed Price Swaps |  |  |  |  |  |  |  |
|  | October 2025 - December 2025 |  | NYMEX WTI |  | 500 |  | $71.60
|  | January 2026 - June 2026 |  | NYMEX WTI |  | 300 |  | $68.67
Producer Costless Collars |  |  |  |  |  |  |  |
|  | October 2025 - December 2025 |  | NYMEX WTI |  | 675 |  | $61.57 Put / $78.02 Call
Natural Gas (MMBtu) |  |  |  |  |  |  |  |
Fixed Price Swaps |  |  |  |  |  |  |  |
|  | October 2025 - December 2025 |  | NYMEX Henry Hub |  | 8,500 |  | $4.17
|  | January 2026 - December 2026 |  | NYMEX Henry Hub |  | 4,500 |  | $4.09
Producer Costless Collars |  |  |  |  |  |  |  |
|  | October 2025 - December 2025 |  | NYMEX Henry Hub |  | 20,500 |  | $3.79 Put / $7.08 Call
|  | January 2026 - December 2026 |  | NYMEX Henry Hub |  | 4,500 |  | $3.35 Put / $5.35 Call
NGL (Bbl) |  |  |  |  |  |  |  |
Fixed Price Swaps |  |  |  |  |  |  |  |
|  | October 2025 - December 2025 |  | Mont Belvieu OPIS - C3+(1) |  | 300 |  | $39.69
|  | October 2025 - December 2025 |  | Mont Belvieu OPIS - Ethane(2) |  | 325 |  | $11.76
____________________ (1) Excludes ethane. (2) Ethane only. As of December 31, 2024, the Company's open derivative contracts consisted of oil and NGL commodity derivative contracts as follows:
|  | Period |  | Index |  | Daily Volume |  | Weighted Average Price
Oil (Bbl) |  |  |  |  |  |  |  |
Fixed Price Swaps |  |  |  |  |  |  |  |
|  | January 2025 - December 2025 |  | NYMEX WTI |  | 500 |  | $71.60
|  | January 2026 - June 2026 |  | NYMEX WTI |  | 300 |  | $68.67
NGL (Bbl) |  |  |  |  |  |  |  |
Fixed Price Swaps |  |  |  |  |  |  |  |
|  | January 2025 - December 2025 |  | Mont Belvieu OPIS - C3+(1) |  | 300 |  | $39.69
____________________ (1) Excludes ethane.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-7A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-10 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-22 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-21 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-20 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-3 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-4 + Details
Name: | us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration