| Valuation of Financial Instruments by Pricing Levels |
The following tables summarize the valuation of derivative instruments by pricing levels that were accounted for at fair value on a recurring basis as of June 30, 2026 and December 31, 2025.
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Fair value measurements at June 30, 2026 using: |
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In thousands |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Derivative assets (liabilities): |
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Crude oil fixed price swaps |
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$ |
— |
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$ |
(204,399 |
) |
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$ |
— |
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$ |
(204,399 |
) |
Crude oil collars |
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— |
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(16,521 |
) |
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— |
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(16,521 |
) |
Crude oil NYMEX roll swaps |
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— |
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5,873 |
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— |
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5,873 |
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Natural gas fixed price swaps |
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— |
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213,965 |
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— |
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213,965 |
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Natural gas WAHA basis swaps |
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— |
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9,516 |
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— |
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9,516 |
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Contingent consideration |
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— |
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(17,156 |
) |
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— |
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(17,156 |
) |
Total |
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$ |
— |
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$ |
(8,722 |
) |
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$ |
— |
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$ |
(8,722 |
) |
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Fair value measurements at December 31, 2025 using: |
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In thousands |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Derivative assets: |
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Crude oil fixed price swaps |
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$ |
— |
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$ |
147,943 |
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$ |
— |
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$ |
147,943 |
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Crude oil collars |
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— |
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58,815 |
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— |
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58,815 |
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Natural gas fixed price swaps |
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— |
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120,753 |
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— |
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120,753 |
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Natural gas collars |
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— |
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16,702 |
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— |
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|
16,702 |
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Natural gas WAHA basis swaps |
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— |
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37,116 |
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— |
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37,116 |
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Total |
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$ |
— |
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$ |
381,329 |
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$ |
— |
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$ |
381,329 |
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