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DERIVATIVE AND HEDGING ACTIVITIES (Tables) | 6 Months Ended
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Jun. 30, 2025
DERIVATIVE AND HEDGING ACTIVITIES |
Summary of location and fair value of derivative contracts | The following table summarizes the location and fair value amounts of all commodity derivative contracts in the unaudited condensed consolidated balance sheets at June 30, 2025 and December 31, 2024 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance sheet location |  | June 30, 2025 |  | December 31, 2024 |  | Balance sheet location |  | June 30, 2025 |  | December 31, 2024
Current assets | ​ | $ | 13,717 | ​ | $ | 6,969 | ​ | Current liabilities | ​ | $ | (4,483) | ​ | $ | (12,330)
Other noncurrent assets | ​ | ​ | 6,344 | ​ | ​ | 4,052 | ​ | Other noncurrent liabilities | ​ | ​ | (4,764) | ​ | ​ | (6,954)
​ | ​ | $ | 20,061 | ​ | $ | 11,021 | ​ | ​ | ​ | $ | (9,247) | ​ | $ | (19,284)
Summary of the location and amounts of the Company's realized and unrealized gains and losses on derivative contracts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance sheet location |  | June 30, 2025 |  | December 31, 2024 |  | Balance sheet location |  | June 30, 2025 |  | December 31, 2024
Current assets | ​ | $ | 13,717 | ​ | $ | 6,969 | ​ | Current liabilities | ​ | $ | (4,483) | ​ | $ | (12,330)
Other noncurrent assets | ​ | ​ | 6,344 | ​ | ​ | 4,052 | ​ | Other noncurrent liabilities | ​ | ​ | (4,764) | ​ | ​ | (6,954)
​ | ​ | $ | 20,061 | ​ | $ | 11,021 | ​ | ​ | ​ | $ | (9,247) | ​ | $ | (19,284)
Schedule of open derivative contracts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Instrument |  | ​ | 2025 |  | ​ | 2026 | ​ | ​ | 2027 | ​ | ​ | 2028 | ​ | ​ | 2029 | ​
Crude oil: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fixed-price swap: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total volumes (Bbls) | ​ | ​ | 1,042,821 | ​ | ​ | 1,452,884 | ​ | ​ | 976,223 | ​ | ​ | 692,020 | ​ | ​ | 140,544 | ​
Weighted average price | ​ | $ | 65.37 | ​ | $ | 64.57 | ​ | $ | 62.16 | ​ | $ | 62.31 | ​ | $ | 60.14 | ​
Basis swap: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total volumes (Bbls) | ​ | ​ | 1,051,329 | ​ | ​ | 1,459,912 | ​ | ​ | 980,339 | ​ | ​ | 692,020 | ​ | ​ | 140,544 | ​
Weighted average price | ​ | $ | 0.46 | ​ | $ | 0.50 | ​ | $ | 0.55 | ​ | $ | 0.66 | ​ | $ | 0.68 | ​
WTI NYMEX roll: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total volumes (Bbls) | ​ | ​ | 1,051,329 | ​ | ​ | 1,459,912 | ​ | ​ | 980,339 | ​ | ​ | 692,020 | ​ | ​ | 140,544 | ​
Weighted average price | ​ | $ | 0.46 | ​ | $ | 0.03 | ​ | $ | (0.04) | ​ | $ | (0.23) | ​ | $ | (0.29) | ​
Natural gas: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fixed-price swap: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total volumes (MMBtu) | ​ | ​ | 2,582,845 | ​ | ​ | 1,098,125 | ​ | ​ | 1,739,001 | ​ | ​ | 2,010,469 | ​ | ​ | 527,049 | ​
Weighted average price | ​ | $ | 3.36 | ​ | $ | 3.90 | ​ | $ | 3.77 | ​ | $ | 3.36 | ​ | $ | 3.84 | ​
Two-way collar: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total volumes (MMBtu) | ​ | ​ | 773,358 | ​ | ​ | 3,780,627 | ​ | ​ | 1,811,553 | ​ | ​ | 539,931 | ​ | ​ | — | ​
Weighted average price (call) | ​ | $ | 6.36 | ​ | $ | 4.53 | ​ | $ | 4.67 | ​ | $ | 3.90 | ​ | $ | — | ​
Weighted average price (put) | ​ | $ | 3.74 | ​ | $ | 3.65 | ​ | $ | 3.62 | ​ | $ | 3.50 | ​ | $ | — | ​
Basis swap: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total volumes (MMBtu) | ​ | ​ | 3,345,416 | ​ | ​ | 4,839,568 | ​ | ​ | 3,531,961 | ​ | ​ | 2,550,400 | ​ | ​ | 527,049 | ​
Weighted average price | ​ | $ | (0.88) | ​ | $ | (1.01) | ​ | $ | (0.84) | ​ | $ | (0.86) | ​ | $ | (0.89) | ​
Schedule of potential effects of master netting arrangements on the fair value of derivative contracts |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Assets from Derivative Contracts | ​ | Liabilities from Derivative Contracts
Offsetting of Derivative Assets and Liabilities |  | June 30, 2025 |  | December 31, 2024 |  | June 30, 2025 |  | December 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross amounts recognized in the Unaudited Condensed Consolidated Balance Sheet | ​ | $ | 20,061 | ​ | $ | 11,021 | ​ | $ | (9,247) | ​ | $ | (19,284)
Amounts not offset in the Unaudited Condensed Consolidated Balance Sheet | ​ | ​ | (9,247) | ​ | ​ | (11,021) | ​ | ​ | 9,247 | ​ | ​ | 11,021
Net amount | ​ | $ | 10,814 | ​ | $ | — | ​ | $ | — | ​ | $ | (8,263)

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- Definition Tabular disclosure of the location and amount of derivative instruments and non-derivative instruments not designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and non-derivative instruments designated and qualified as hedging instruments. + References No definition available. + Details
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- Definition Tabular disclosure of derivative, other financial assets and other financial liabilities that are subject to offsetting, including master netting arrangements. + References No definition available. + Details
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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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