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Commodity Risk Management Activities (Tables) | 6 Months Ended
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Jun. 30, 2021
Commodity Risk Management Activities |
Schedule of natural gas price and basis swap contracts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Fair Value
​ | ​ | Volume | ​ | Ceiling | ​ | Floor | ​ | Basis | ​ | June 30,
Derivative Type |  | (MMbtu) |  | Price |  | Price |  | Differential |  | 2021
2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basis swap |  | 305,000 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (1.10) |  | ​ | 70,575
Two-way costless collar |  | 1,835,000 | ​ | $ | 3.24 | ​ | $ | 2.78 | ​ | ​ | ​ |  | ​ | (910,639)
2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Two-way costless collar |  | 900,000 | ​ | $ | 3.34 | ​ | $ | 2.80 | ​ | ​ | ​ |  | ​ | (494,469)
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (1,334,533)
Schedule of fair value of derivatives | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value of Derivative Assets
​ |  | June 30, |  | December 31,
​ | ​ | 2021 | ​ | 2020
Current |  | ​ |  |  | ​ |
Basis swap |  | $ | 70,575 | ​ | $ | —
Two-way costless collar |  |  | 117,647 | ​ |  | —
​ |  | $ | 188,222 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value of Derivative Liabilities
​ |  | June 30, |  | December 31,
​ | ​ | 2021 | ​ | 2020
Current |  | ​ |  |  | ​ |
Basis swap |  | $ | — | ​ | $ | —
Two-way costless collar |  | ​ | (1,522,755) | ​ |  | —
​ |  | $ | (1,522,755) | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Net Fair Value of Derivatives |  | $ | (1,334,533) | ​ | $ | —
Schedule of fair value of derivatives rollforward | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, | ​ | Six months ended June 30,
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020
Fair value of asset (liability), beginning of the period | ​ | $ | 401,141 | ​ | $ | 2,374,878 | ​ | $ | — | ​ | $ | 1,999,802
Gains (losses) on derivative contracts included in earnings | ​ |  | (1,827,334) | ​ |  | (85,348) | ​ |  | (1,361,993) | ​ |  | 1,635,669
Settlement of commodity derivative contracts | ​ |  | 91,660 | ​ |  | (1,031,828) | ​ |  | 27,460 | ​ |  | (2,377,769)
Fair value of asset, end of the period | ​ | $ | (1,334,533) | ​ | $ | 1,257,702 | ​ | $ | (1,334,533) | ​ | $ | 1,257,702

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