v3.26.1
DERIVATIVES AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Mar. 31, 2026
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,
20262025
(In thousands)
Derivative assets - current
$1,573 $4 
Derivative assets - noncurrent1,642 — 
      Total derivative assets$3,215 $4 
Derivative liabilities - current$— $135 
      Total derivative liabilities$— $135 
The following table presents interest rate swap derivative activities for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
20262025
(In thousands)
Realized gain (loss) on interest rate swaps
$342 $(343)
Favorable fair value adjustment
$3,688 $327 
The following table presents the fair value of derivative assets and liabilities related to commodity swaps:
March 31,December 31,
20262025
(In thousands)
Derivative assets - current
$5,958 $13,902 
Derivative assets - noncurrent811 1,467 
      Total derivative assets
$6,769 $15,369 
Derivative liabilities - current$42,046 $5,371 
Derivative liabilities - noncurrent
1,712 — 
      Total derivative liabilities
$43,758 $5,371 
The following table presents commodity swap derivatives activities for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
20262025
(In thousands)
Realized loss on commodity swaps
$(484)$(4,371)
Unfavorable fair value adjustment
$(47,471)$(22,498)
Schedule of Detail Information of Commodity Swaps Outstanding
The following table presents detailed information of commodity swaps outstanding as of March 31, 2026 (in thousands, except volumes):
March 31, 2026
CommodityUnit
Notional Volume
Net Fair Value
Natural Gas MMBtus6,665,000 $4,258 
NGL Gallons124,985,050 (7,854)
CrudeBbl735,950 (10,114)
Natural Gas Basis Spread Swaps
MMBtus28,500,000 (23,279)
$(36,989)