| Schedule of Outstanding Crude Oil and Natural Gas Derivative Contracts in Place |
Schedule
of Outstanding Crude Oil and Natural Gas Derivative Contracts in Place
| | |
Settling
July 1, 2025
through
December 31, 2025 | | |
Settling
January 1, 2026
through
December 31, 2026 | | |
Settling
January 1, 2027
through
December 31, 2027 | | |
Settling
January 1, 2028
through
December 31, 2028 | |
| Crude Oil Swaps: | |
| | | |
| | | |
| | | |
| | |
| Notional volume (Bbls) | |
| 1,542,652 | | |
| 2,241,616 | | |
| 1,592,503 | | |
| 471,907 | |
| Weighted average price ($/Bbl) | |
$ | 68.04 | | |
$ | 64.42 | | |
$ | 64.16 | | |
$ | 63.47 | |
| Natural Gas Swaps: | |
| | | |
| | | |
| | | |
| | |
| Notional volume (MMBtus) | |
| 6,285,244 | | |
| 11,413,134 | | |
| 9,874,626 | | |
| 4,406,357 | |
| Weighted average price ($/MMBtu) | |
$ | 4.30 | | |
$ | 4.08 | | |
$ | 4.07 | | |
$ | 4.00 | |
| Ethane Swaps: | |
| | | |
| | | |
| | | |
| | |
| Notional volume (Bbls) | |
| 178,406 | | |
| 288,956 | | |
| 232,375 | | |
| 51,809 | |
| Weighted average price ($/Bbl) | |
$ | 11.91 | | |
$ | 11.54 | | |
$ | 11.05 | | |
$ | 11.28 | |
| Propane Swaps: | |
| | | |
| | | |
| | | |
| | |
| Notional volume (Bbls) | |
| 310,017 | | |
| 509,724 | | |
| 417,744 | | |
| 94,220 | |
| Weighted average price ($/Bbl) | |
$ | 28.74 | | |
$ | 26.36 | | |
$ | 26.51 | | |
$ | 26.00 | |
| Iso Butane Swaps: | |
| | | |
| | | |
| | | |
| | |
| Notional volume (Bbls) | |
| 39,012 | | |
| 63,185 | | |
| 50,812 | | |
| 11,328 | |
| Weighted average price ($/Bbl) | |
$ | 35.62 | | |
$ | 33.92 | | |
$ | 30.22 | | |
$ | 29.63 | |
| Normal Butane Swaps: | |
| | | |
| | | |
| | | |
| | |
| Notional volume (Bbls) | |
| 107,931 | | |
| 174,809 | | |
| 140,580 | | |
| 31,343 | |
| Weighted average price ($/Bbl) | |
$ | 38.32 | | |
$ | 35.24 | | |
$ | 31.37 | | |
$ | 30.37 | |
| Pentane Plus Swaps: | |
| | | |
| | | |
| | | |
| | |
| Notional volume (Bbls) | |
| 80,461 | | |
| 130,321 | | |
| 104,802 | | |
| 23,366 | |
| Weighted average price ($/Bbl) | |
$ | 46.17 | | |
$ | 53.05 | | |
$ | 52.40 | | |
$ | 52.49 | |
|
| Schedule of Derivative Instruments |
Schedule
of Derivative Instruments
The following tables present the gross and net fair
values of the Company’s derivative instruments recognized on the condensed consolidated balance sheets for the periods presented:
| | |
Gross Amounts Recognized | | |
Gross Amounts Offset in Consolidated Balance Sheet | | |
Net Amounts Presented on the Consolidated Balane Sheet | |
| | |
June 30, 2025 | |
| | |
Gross Amounts Recognized | | |
Gross Amounts Offset in Consolidated Balance Sheet | | |
Net Amounts Presented on the Consolidated Balane Sheet | |
| | |
(In thousands) | |
| Current derivative assets | |
$ | 16,040 | | |
$ | (3,327 | ) | |
$ | 12,713 | |
| Long-term derivative assets | |
$ | 8,286 | | |
$ | (2,305 | ) | |
$ | 5,981 | |
| | |
Gross Amounts Recognized | | |
Gross Amounts Offset in Consolidated Balance Sheet | | |
Net Amounts Presented on the Consolidated Balane Sheet | |
| | |
December 31, 2024 | |
| | |
Gross Amounts Recognized | | |
Gross Amounts Offset in Consolidated Balance Sheet | | |
Net Amounts Presented on the Consolidated Balane Sheet | |
| | |
(In thousands) | |
| Current derivative liabilities | |
$ | (2,446 | ) | |
$ | — | | |
$ | (2,446 | ) |
| Long-term derivative liabilities | |
$ | (1,949 | ) | |
$ | — | | |
$ | (1,949 | ) |
The
following table presents the components of realized gain on derivatives and unrealized gain on derivatives reflected on the
accompanying consolidated statements of operations and cash flows for the periods presented:
| | |
| | |
| | |
| | |
| |
| | |
Three Months Ended June 30, | | |
Six Months Ended June 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| | |
(In thousands) | |
| Cash received (paid) for derivative settlements, net: | |
| | | |
| | | |
| | | |
| | |
| Crude oil | |
$ | 4,150 | | |
$ | — | | |
$ | 3,630 | | |
$ | — | |
| Natural gas | |
| 1,223 | | |
| — | | |
| 961 | | |
| — | |
| NGLs | |
| (429 | ) | |
| — | | |
| (429 | ) | |
| — | |
| Total cash received for derivative settlements, net: | |
$ | 4,944 | | |
$ | — | | |
$ | 4,162 | | |
$ | — | |
| Non-cash gain (loss) on derivatives: | |
| | | |
| | | |
| | | |
| | |
| Crude oil | |
$ | 22,332 | | |
$ | — | | |
$ | 23,406 | | |
$ | — | |
| Natural gas | |
| 3,375 | | |
| — | | |
| 2,185 | | |
| — | |
| NGLs | |
| (2,501 | ) | |
| — | | |
| (2,501 | ) | |
| — | |
| Total non-cash gain on derivatives | |
| 23,206 | | |
| — | | |
| 23,090 | | |
| — | |
| Total gain on derivatives, net | |
$ | 28,149 | | |
$ | — | | |
$ | 27,252 | | |
$ | — | |
|