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Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The following table presents the location and fair value of the Call Options at March 31, 2022 and December 31, 2022 on the Company's Condensed Consolidated Balance Sheets (in thousands):

Location on Condensed Consolidated Balance Sheet						March 31, 2023(1)						December 31, 2022(1)
Prepaid expenses and other current assets (2)						$	138					$	347
Right-of-use assets and other noncurrent assets (2)						13						225
						$	151					$	572

_______________

(1)    Amounts are presented on a gross basis.

(2)    The classification between current and noncurrent assets is based upon when the Call Options mature.

Derivative Instruments, Gain (Loss)

The table below presents the changes in the fair value of the Call Options for the three and three months ended March 31, 2023 as well as their net realized gains and losses.

						Three Months Ended March 31,
Changes in fair value of derivatives						2023						2022(1)
Fair value of natural gas derivatives, beginning of period						$	572					$	—
Unrealized gains (losses) transferred to realized gains (losses), net (3)						(252)						—
Change in unrealized loss on natural gas derivatives (2)						(169)						—
Fair value of natural gas derivatives, end of period						$	151					$	—
						Three Months Ended March 31,
Realized gain (loss) from derivative instruments						2023						2022(1)
Unrealized gains (losses) transferred to realized gains (losses), net						$	(252)					$	—
Derivative settlement payments received (3)						—						—
Realized gain (loss) from natural gas derivatives, net (3)						$	(252)					$	—

_______________

(1)    The Company did not have any derivative instruments during the three months ended March 31, 2022.

(2)    Amounts are presented as their own separate line item within the Company's Condensed Consolidated Statements of Operations.

(3)    Amounts are included within cost of LNG product on the Company's Condensed Consolidated Statements of Operations.

Schedule of Derivative Assets at Fair Value

The table below presents the changes in the fair value of the Call Options for the three and three months ended March 31, 2023 as well as their net realized gains and losses.

						Three Months Ended March 31,
Changes in fair value of derivatives						2023						2022(1)
Fair value of natural gas derivatives, beginning of period						$	572					$	—
Unrealized gains (losses) transferred to realized gains (losses), net (3)						(252)						—
Change in unrealized loss on natural gas derivatives (2)						(169)						—
Fair value of natural gas derivatives, end of period						$	151					$	—
						Three Months Ended March 31,
Realized gain (loss) from derivative instruments						2023						2022(1)
Unrealized gains (losses) transferred to realized gains (losses), net						$	(252)					$	—
Derivative settlement payments received (3)						—						—
Realized gain (loss) from natural gas derivatives, net (3)						$	(252)					$	—

_______________

(1)    The Company did not have any derivative instruments during the three months ended March 31, 2022.

(2)    Amounts are presented as their own separate line item within the Company's Condensed Consolidated Statements of Operations.

(3)    Amounts are included within cost of LNG product on the Company's Condensed Consolidated Statements of Operations.

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- References

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Tabular disclosure of derivative assets at fair value.

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- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959

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-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

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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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959

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