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Risk Management and Derivative Instruments (Tables) | 3 Months Ended
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Mar. 31, 2023
Risk Management and Derivative Instruments |
Open Commodity Positions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 |  | 2024
Natural Gas Derivative Contracts: | ​ | ​ |  |  | ​ |
Collar contracts: | ​ |  | ​ | ​ |  | ​
Two-way collars | ​ |  | ​ | ​ |  | ​
Average monthly volume (MMBtu) | ​ |  | 1,282,222 | ​ |  | 220,833
Weighted-average floor price | ​ | $ | 3.49 | ​ | $ | 3.31
Weighted-average ceiling price | ​ | $ | 5.81 | ​ | $ | 4.73
​ | ​ | ​ | ​ | ​ | ​ | ​
Crude Oil Derivative Contracts: | ​ |  | ​ | ​ |  | ​
Fixed price swap contracts: | ​ |  | ​ | ​ |  | ​
Average monthly volume (Bbls) | ​ |  | 55,000 | ​ |  | —
Weighted-average fixed price | ​ | $ | 57.31 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Collar contracts: | ​ |  |  | ​ |  |
Three-way collars | ​ |  | ​ | ​ |  | ​
Average monthly volume (Bbls) | ​ |  | 50,000 | ​ |  | —
Weighted-average ceiling price | ​ | $ | 74.54 | ​ | $ | —
Weighted-average floor price | ​ | $ | 58.00 | ​ | $ | —
Weighted-average sub-floor price | ​ | $ | 43.00 | ​ | $ | —
​
Gross Fair Value of Derivative Instruments by Appropriate Balance Sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Asset |  | Liability |  | Asset |  | Liability
​ | ​ | ​ | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives
​ | ​ | ​ | ​ | March 31, | ​ | March 31, | ​ | December 31, | ​ | December 31,
Type |  | Balance Sheet Location |  | 2023 |  | 2023 |  | 2022 |  | 2022
​ | ​ | ​ | ​ | (In thousands)
Commodity contracts |  | Short-term derivative instruments | ​ | $ | 11,833 | ​ | $ | 14,947 | ​ | $ | 6,257 | ​ | $ | 27,141
Interest rate swaps |  | Short-term derivative instruments | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Gross fair value |  | ​ | ​ |  | 11,833 | ​ |  | 14,947 | ​ |  | 6,257 | ​ |  | 27,141
Netting arrangements |  | ​ | ​ |  | (11,833) | ​ |  | (11,833) | ​ |  | (6,257) | ​ |  | (6,257)
Net recorded fair value |  | Short-term derivative instruments | ​ | $ | — | ​ | $ | 3,114 | ​ | $ | — | ​ | $ | 20,884
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodity contracts |  | Long-term derivative instruments | ​ | $ | 205 | ​ | $ | 106 | ​ | $ | — | ​ | $ | —
Interest rate swaps |  | Long-term derivative instruments | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Gross fair value |  | ​ | ​ |  | 205 | ​ |  | 106 | ​ |  | — | ​ |  | —
Netting arrangements |  | ​ | ​ |  | (106) | ​ |  | (106) | ​ |  | — | ​ |  | —
Net recorded fair value |  | Long-term derivative instruments | ​ | $ | 99 | ​ | $ | — | ​ | $ | — | ​ | $ | —
​
Unrealized and Realized Gains and Losses Related to Derivative Instruments | The following table details the gains and losses related to derivative instruments for the periods indicated (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | For the Three Months Ended | ​
​ | ​ | Statements of |  | March 31, | ​
​ |  | Operations Location | ​ | 2023 |  | 2022 | ​
Commodity derivative contracts |  | Loss (gain) on commodity derivatives | ​ | $ | (15,159) | ​ | $ | 93,404 | ​
(Gain) loss on interest rate derivatives |  | Interest expense, net | ​ |  | — | ​ |  | (557) | ​

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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