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COMMODITY DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2022

Commodity Derivatives

SCHEDULE OF COMMODITY DERIVATIVE CONTRACTS

 SCHEDULE OF COMMODITY DERIVATIVE CONTRACTS

		Collars												Fixed Price Swaps
		Quantity												Quantity
Commodity/ Index/		Crude oil-(Bbls) Natural				Weighted Average Prices								Crude oil- (Bbls) Natural				Weighted Average
Maturity Period		Gas-(Mmbtu)				Floors				Ceilings				Gas-(Mmbtu)				Price
NYMEX WTI
Crude Oil 2022 Contracts:
Second quarter 2022			74,500			$	60.05			$	80.66				9,000			$	49.99
Third quarter 2022			73,400			$	59.97			$	80.54				9,000			$	49.99
Fourth quarter 2022			71,800			$	59.86			$	80.34				9,000			$	49.99
Total Remaining 2022			219,700			$	59.96			$	80.52				27,000			$	49.99
Crude Oil 2023 Contracts:
First quarter 2023			66,200			$	57.73			$	76.00				6,000			$	59.20
Second quarter 2023			53,500			$	60.00			$	81.04				6,000			$	59.20
Third quarter 2023			52,600			$	60.00			$	81.04				-			$	-
Fourth quarter 2023			51,200			$	60.00			$	81.04				-			$	-
Total 2023			223,500			$	59.33			$	79.55				12,000			$	59.20
NYMEX Henry Hub
Natural Gas 2022 Contracts:
Second quarter 2022			-			$	-			$	-				60,000			$	2.96
Third quarter 2022			-			$	-			$	-				60,000			$	2.96
Fourth quarter 2022			-			$	-			$	-				60,000			$	2.96
Total remaining 2022			-			$	-			$	-				180,000			$	2.96
Natural Gas 2023 Contracts:
First quarter 2023			-			$	-			$	-				60,000			$	2.96

SCHEDULE OF FAIR VALUE OF COMMODITY DERIVATIVE CONTRACTS

 SCHEDULE OF FAIR VALUE OF COMMODITY DERIVATIVE CONTRACTS

		March 31, 2022				December 31, 2021
		(in thousands)
Derivative liabilities:
Current liabilities		$	6,478			$	-
Non-current liabilities			1,867				-
Total derivative liabilities		$	8,344			$	-

SCHEDULE OF DERIVATIVE SETTLEMENT GAIN LOSS

The following table summarizes the commodity components of the derivative settlement gain (loss) as well as the components of the net derivative loss line-item presentation in the accompanying condensed consolidated statement of operations:

 SCHEDULE OF DERIVATIVE SETTLEMENT GAIN LOSS

		2022				2021
		Three Months Ended March 31,
		2022				2021
		(in thousands)
Derivative settlement gain (loss)						$
Oil contracts		$	(1,547	)			(2	)
Gas contracts			(97	)			-
Total net derivative settlement gain (loss)		$	(1,644	)		$	(2	)
Total net derivative gain (loss)						$
Oil contracts		$	(6,296	)			107
Gas contracts			(541	)			-
Total net derivative gain (loss)		$	(6,837	)		$	107

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