v3.25.1
Commodity Sales Commitments (Tables)
3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
We have entered into crude oil futures contracts and swap agreements that effectively fix prices for the production and periods shown below. Prices to be realized for hedged production may be less than these fixed prices because of location, quality and other adjustments. See Note 9.
Production PeriodBbls per DayWeighted Average
NYMEX
Price per Bbl
April 2025—December 2025
6,000$67.39 
January 2026—June 2026
3,000$70.57 
July 2026—September 2026
2,000$70.49 
October 2026—December 2026
375$64.16 
We have entered into natural gas liquids futures contracts and swap agreements for ethane that effectively fix prices for the production and periods shown below. Prices to be realized for hedged production may be less than these fixed prices because of location, quality and other adjustments. See Note 9.
Production PeriodGallons per DayWeighted Average
NGL OPIS
Price per Gallon
Ethane
January 2027— March 202714,700$0.29 
We have entered into natural gas futures contracts and swap agreements that effectively fix prices for the production and periods shown below. Prices to be realized for hedged production may be less than these fixed prices because of location, quality and other adjustments. See Note 9.
Production PeriodMMBtu per DayWeighted Average
NYMEX
Price per MMBtu
April 2025—March 2026
50,000$3.21 
April 2026—September 2026
35,000$3.25 
October 2026—December 2026
42,500$3.90 
January 2027—March 2027
42,500$4.36 
We have entered sell basis swap agreements that effectively fix the basis adjustment for the San Juan Basin delivery location for the production and periods shown below.
Production PeriodMMBtu per DayWeighted Average
Sell Basis
Price per MMBtu(a)
April 2025—December 202550,000$(0.01)
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(a)Reductions to NYMEX gas price for delivery location