v3.26.1
DERIVATIVES AND HEDGING ACTIVITIES (Tables)
6 Months Ended
Jun. 30, 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:
June 30,December 31,
20262025
(In thousands)
Derivative assets - current
$3,448 $
Derivative assets - noncurrent2,243 — 
      Total derivative assets$5,691 $
Derivative liabilities - current$— $135 
      Total derivative liabilities$— $135 
The following table presents interest rate swap derivative activities for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)
Realized gain (loss) on interest rate swaps
$294 $(2)$636 $(344)
Favorable fair value adjustment
$2,770 $740 $6,458 $1,067 
The following table presents the fair value of derivative assets and liabilities related to commodity swaps:
June 30,December 31,
20262025
(In thousands)
Derivative assets - current
$16,344 $13,902 
Derivative assets - noncurrent1,800 1,467 
      Total derivative assets
$18,144 $15,369 
Derivative liabilities - current$5,110 $5,371 
Derivative liabilities - noncurrent
425 — 
      Total derivative liabilities
$5,535 $5,371 
The following table presents commodity swap derivatives activities for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)
Realized loss on commodity swaps
$(27,414)$(942)$(27,898)$(5,313)
Favorable (unfavorable) fair value adjustment$22,184 $36,801 $(25,287)$14,303 
Schedule of Detail Information of Commodity Swaps Outstanding
The following table presents detailed information on commodity swaps outstanding as of June 30, 2026 (in thousands, except volumes):
June 30, 2026
CommodityUnit
Notional Volume
Net Fair Value
Natural Gas MMBtus6,515,000 $5,226 
NGL Gallons143,131,800 3,731 
CrudeBbl632,550 (2,298)
Natural Gas Basis Spread Swaps
MMBtus17,000,000 5,950 
$12,609