v3.25.1
DERIVATIVES AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value The following table presents the fair value of derivative assets and liabilities related to the interest rate swap contracts:
March 31,December 31,
20252024
(In thousands)
Derivative assets - current
$453 $504 
      Total derivative assets$453 $504 
Derivative liabilities - current$485 $1,206 
      Total derivative liabilities$485 $1,206 
The following table presents interest rate swap derivative activities for the three months ended March 31, 2025 and 2024:
Three Months Ended March 31,
20252024
(In thousands)
Realized (loss) gain on interest rate swaps
$(343)$3,952 
Favorable fair value adjustment
$327 $13,329 
The following table presents the fair value of derivative assets and liabilities related to commodity swaps:
March 31,December 31,
20252024
(In thousands)
Derivative assets - current
$1,832 $1,804 
Derivative assets - noncurrent83 65 
      Total derivative assets
$1,915 $1,869 
Derivative liabilities - current$26,981 $8,805 
Derivative liabilities - noncurrent
1,934 1,937 
      Total derivative liabilities
$28,915 $10,742 
The following table presents commodity swap derivatives activities for the three months ended March 31, 2025 and 2024:
Three Months Ended March 31,
20252024
(In thousands)
Realized loss on commodity swaps
$(4,371)$(198)
Unfavorable fair value adjustment
$(22,498)$(15,286)
Schedule of Detail Information of Commodity Swaps Outstanding
The following table presents detailed information of commodity swaps outstanding as of March 31, 2025 (in thousands, except volumes):
March 31, 2025
CommodityUnit
Notional Volume
Net Fair Value
Natural Gas MMBtus900,000 $(607)
NGL Gallons376,924,800 (22,787)
CrudeBbl586,000 1,133 
Crude CollarsBbl91,400 311 
Natural Gas Basis Spread Swaps
MMBtus19,500,000 (5,050)
$(27,000)