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Risk Management and Derivative Instruments (Tables) | 9 Months Ended
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Sep. 30, 2024
Risk Management and Derivative Instruments |
Schedule of open commodity positions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Remaining | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 | ​ | 2025 | ​ | 2026
Natural Gas Derivative Contracts: | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Fixed price swap contracts: | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Average monthly volume (MMBtu) | ​ | ​ | 660,000 | ​ | ​ | 585,000 | ​ | ​ | 500,000
Weighted-average fixed price | ​ | $ | 3.74 | ​ | $ | 3.75 | ​ | $ | 3.79
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collar contracts: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Two-way collars | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Average monthly volume (MMBtu) | ​ |  | 333,333 | ​ |  | 250,000 | ​ |  | 354,167
Weighted-average floor price | ​ | $ | 3.50 | ​ | $ | 3.50 | ​ | $ | 3.57
Weighted-average ceiling price | ​ | $ | 4.08 | ​ | $ | 4.06 | ​ | $ | 4.18
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Crude Oil Derivative Contracts: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Fixed price swap contracts: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Average monthly volume (Bbls) | ​ |  | 83,000 | ​ |  | 78,583 | ​ |  | 30,917
Weighted-average fixed price | ​ | $ | 74.34 | ​ | $ | 71.79 | ​ | $ | 70.68
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collar contracts: | ​ |  |  | ​ |  |  | ​ |  |
Two-way collars | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Average monthly volume (Bbls) | ​ | ​ | 102,000 | ​ | ​ | 59,500 | ​ | ​ | —
Weighted-average floor price | ​ | $ | 70.00 | ​ | $ | 70.00 | ​ | $ | —
Weighted-average ceiling price | ​ | $ | 80.20 | ​ | $ | 80.20 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of fair value of derivative instruments by the appropriate balance sheet classification | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Asset |  | Liability |  | Asset |  | Liability
​ | ​ | ​ | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives
​ | ​ | ​ | ​ | September 30, | ​ | September 30, | ​ | December 31, | ​ | December 31,
Type |  | Balance Sheet Location |  | 2024 |  | 2024 |  | 2023 |  | 2023
​ | ​ | ​ | ​ | (In thousands)
Commodity contracts |  | Short-term derivative instruments | ​ | $ | 17,724 | ​ | $ | 2,168 | ​ | $ | 21,657 | ​ | $ | 3,988
Interest rate swaps |  | Short-term derivative instruments | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Gross fair value |  | ​ | ​ |  | 17,724 | ​ |  | 2,168 | ​ |  | 21,657 | ​ |  | 3,988
Netting arrangements |  | ​ | ​ |  | (2,168) | ​ |  | (2,168) | ​ |  | (3,988) | ​ |  | (3,988)
Net recorded fair value |  | Short-term derivative instruments | ​ | $ | 15,556 | ​ | $ | — | ​ | $ | 17,669 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodity contracts |  | Long-term derivative instruments | ​ | $ | 8,450 | ​ | $ | 4,031 | ​ | $ | 17,782 | ​ | $ | 8,377
Interest rate swaps |  | Long-term derivative instruments | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Gross fair value |  | ​ | ​ |  | 8,450 | ​ |  | 4,031 | ​ |  | 17,782 | ​ |  | 8,377
Netting arrangements |  | ​ | ​ |  | (4,031) | ​ |  | (4,031) | ​ |  | (8,377) | ​ |  | (8,377)
Net recorded fair value |  | Long-term derivative instruments | ​ | $ | 4,419 | ​ | $ | — | ​ | $ | 9,405 | ​ | $ | —
Schedule of 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 | ​ | For the Nine Months Ended
​ | ​ | Statements of |  | September 30, |  | September 30,
​ |  | Operations Location | ​ | 2024 |  | 2023 | ​ | 2024 |  | 2023
Commodity derivative contracts |  | Loss (gain) on commodity derivatives | ​ | $ | (25,047) | ​ | $ | 23,328 | ​ | $ | (7,258) | ​ | $ | 4,371
​

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