| Schedule of Derivative Instruments |
The following table summarizes the approximate volumes and average contract prices of derivative contracts the Company had in place as of June 30, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | Period | | Volume (Bbls) | | Volume
(Bbls/d) | | Wtd. Avg. Crude Price ($/Bbl) | Crude oil swaps - NYMEX WTI | July 2026 - September 2026 | | 6,440,000 | | | 70,000 | | | $68.68 | | October 2026 - December 2026 | | 6,440,000 | | | 70,000 | | | 67.10 | | January 2027 - March 2027 | | 900,000 | | | 10,000 | | | 74.25 | | April 2027 - June 2027 | | 910,000 | | | 10,000 | | | 72.94 | | July 2027 - September 2027 | | 920,000 | | | 10,000 | | | 72.06 | | October 2027 - December 2027 | | 920,000 | | | 10,000 | | | 71.29 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Period | | Volume (Bbls) | | Volume
(Bbls/d) | | Wtd. Avg. Differential ($/Bbl) | Crude oil basis differential swaps - Mid-Cush(1) | July 2026 - September 2026 | | 6,440,000 | | | 70,000 | | | $1.03 | | October 2026 - December 2026 | | 6,440,000 | | | 70,000 | | | 1.03 | | January 2027 - March 2027 | | 900,000 | | | 10,000 | | | 1.10 | | April 2027 - June 2027 | | 910,000 | | | 10,000 | | | 1.10 | | July 2027 - September 2027 | | 920,000 | | | 10,000 | | | 1.10 | | October 2027 - December 2027 | | 920,000 | | | 10,000 | | | 1.10 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Period | | Volume (Bbls) | | Volume
(Bbls/d) | | Wtd. Avg. Differential ($/Bbl) | Crude oil roll differential swaps - NYMEX WTI | July 2026 - September 2026 | | 6,578,000 | | | 71,500 | | | $1.24 | | October 2026 - December 2026 | | 6,578,000 | | | 71,500 | | | 1.13 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1) These crude oil basis swap transactions are settled utilizing the ARGUS MIDLAND WTI and ARGUS WTI CUSHING indices. | | | | | | | | | | | | | | | | | | | | | | | |
| Period | | Volume (MMBtu) | | Volume (MMBtu/d) | | Wtd. Avg. Gas Price ($/MMBtu) | Natural gas swaps - NYMEX Henry Hub | July 2026 - September 2026 | | 12,604,000 | | | 137,000 | | | $3.83 | | October 2026 - December 2026 | | 12,604,000 | | | 137,000 | | | 4.16 | | January 2027 - March 2027 | | 12,600,000 | | | 140,000 | | | 4.24 | | April 2027 - June 2027 | | 12,740,000 | | | 140,000 | | | 3.32 | | July 2027 - September 2027 | | 12,880,000 | | | 140,000 | | | 3.58 | | October 2027 - December 2027 | | 12,880,000 | | | 140,000 | | | 3.94 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Period | | Volume (MMBtu) | | Volume (MMBtu/d) | | Wtd. Avg. Gas Price ($/MMBtu) | Natural gas swaps - Waha | July 2026 - September 2026 | | 8,740,000 | | | 95,000 | | | $1.80 | | October 2026 - December 2026 | | 15,145,000 | | | 164,620 | | | 2.73 | | January 2027 - March 2027 | | 7,650,000 | | | 85,000 | | | 3.57 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Period | | Volume (MMBtu) | | Volume (MMBtu/d) | | Wtd. Avg. Gas Price ($/MMBtu) | Natural gas swaps - HSC | July 2026 - September 2026 | | 9,200,000 | | | 100,000 | | | $3.95 | | October 2026 - December 2026 | | 9,200,000 | | | 100,000 | | | 4.24 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Period | | Volume (MMBtu) | | Volume (MMBtu/d) | | Wtd. Avg. Differential ($/MMBtu) | Natural gas basis differential swaps - Waha(1) | July 2026 - September 2026 | | 12,604,000 | | | 137,000 | | | $(1.42) |
| October 2026 - December 2026 | | 12,604,000 | | | 137,000 | | | (1.21) | | January 2027 - March 2027 | | 14,490,000 | | | 161,000 | | | (0.47) | | April 2027 - June 2027 | | 14,651,000 | | | 161,000 | | | (1.11) | | July 2027 - September 2027 | | 14,812,000 | | | 161,000 | | | (0.65) | | October 2027 - December 2027 | | 14,812,000 | | | 161,000 | | | (0.91) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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($/MMBtu) | Natural gas basis differential swaps - HSC(2) | January 2027 - March 2027 | | 9,000,000 | | | 100,000 | | | $(0.48) | | April 2027 - June 2027 | | 9,100,000 | | | 100,000 | | | (0.48) | | July 2027 - September 2027 | | 9,200,000 | | | 100,000 | | | (0.48) | | October 2027 - December 2027 | | 9,200,000 | | | 100,000 | | | (0.48) | | January 2028 - March 2028 | | 9,100,000 | | | 100,000 | | | (0.36) | | April 2028 - June 2028 | | 9,100,000 | | | 100,000 | | | (0.36) | | July 2028 - September 2028 | | 9,200,000 | | | 100,000 | | | (0.36) | | October 2028 - December 2028 | | 9,200,000 | | | 100,000 | | | (0.36) |
(1) These natural gas basis swap contracts are settled utilizing the Inside FERC’s West Texas Waha price and the NYMEX Henry Hub price of natural gas. (2) These natural gas basis swap contracts are settled utilizing the HSC price and the NYMEX Henry Hub price of natural gas.
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| Schedule of Derivative Instruments in Statement of Financial Position, Fair Value |
The tables below summarize the fair value amounts and the classification in the consolidated balance sheets of the Company’s derivative contracts outstanding at the respective balance dates, as well as the gross recognized derivative assets, liabilities and offset amounts: | | | | | | | | | | | | | | | | | | | | | | | | | Balance Sheet Classification | | Gross Fair Value Asset/Liability Amounts | | Gross Amounts Offset(1) | | Net Recognized Fair Value Assets/Liabilities | (in thousands) | | | June 30, 2026 | Derivative Assets | | | | | | | | Commodity contracts | Derivative instruments | | $ | 170,750 | | | $ | (42,078) | | | $ | 128,672 | | | Other noncurrent assets | | 53,906 | | | (14,999) | | | 38,907 | | Derivative Liabilities | | | | | | | | Commodity contracts | Other current liabilities | | $ | 42,078 | | | $ | (42,078) | | | $ | — | | | Other noncurrent liabilities | | 15,482 | | | (14,999) | | | 483 | | | | | | | | | | | | | December 31, 2025 | Derivative Assets | | | | | | | | Commodity contracts | Derivative instruments | | $ | 281,752 | | | $ | (2,027) | | | $ | 279,725 | | | Other noncurrent assets | | 8,733 | | | (7,987) | | | 746 | | Derivative Liabilities | | | | | | | | Commodity contracts | Other current liabilities | | $ | 2,027 | | | $ | (2,027) | | | $ | — | | | Other noncurrent liabilities | | 8,623 | | | (7,987) | | | 636 | |
(1) The Company has agreements in place with each of its counterparties that allow for the financial right of offset for derivative assets against derivative liabilities at settlement or in the event of a default under the agreements or if contracts are terminated.
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