| Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] |
The following table reflects the contracted volumes and weighted average prices under the terms of the Company’s open derivative contracts as of March 31, 2022:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average |
|
|
|
|
|
|
|
|
|
|
|
|
Instrument |
|
Daily |
|
Total |
|
Weighted |
|
Weighted |
|
Weighted |
Period |
|
Type |
|
Volumes |
|
Volumes |
|
Strike Price |
|
Put Price |
|
Call Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crude Oil - WTI (NYMEX) |
|
(Bbls)(1) |
|
(Bbls)(1) |
|
|
($/Bbls)(1) |
|
|
($/Bbls)(1) |
|
|
($/Bbls)(1) |
Apr 2022 - Nov 2022 |
|
swaps |
|
2,410 |
|
588,027 |
|
$ |
52.83 |
|
$ |
— |
|
$ |
— |
Apr 2022 - Nov 2022 |
|
collars |
|
2,403 |
|
586,377 |
|
$ |
— |
|
$ |
43.15 |
|
$ |
60.47 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural Gas - Henry Hub (NYMEX) |
|
(MMbtu)(2) |
|
(MMbtu)(2) |
|
|
($/MMbtu)(2) |
|
|
($/MMbtu)(2) |
|
|
($/MMbtu)(2) |
Apr 2022 - Dec 2022 |
|
calls |
|
111,519 |
|
30,667,734 |
|
$ |
— |
|
$ |
— |
|
$ |
3.78 |
Jan 2023 - Dec 2023 |
|
calls |
|
70,000 |
|
25,550,000 |
|
$ |
— |
|
$ |
— |
|
$ |
3.50 |
Jan 2024 - Dec 2024 |
|
calls |
|
65,000 |
|
23,790,000 |
|
$ |
— |
|
$ |
— |
|
$ |
3.50 |
Jan 2025 - Mar 2025 |
|
calls |
|
62,000 |
|
5,580,000 |
|
$ |
— |
|
$ |
— |
|
$ |
3.50 |
Apr 2022 - Dec 2022 |
|
collars |
|
42,218 |
|
11,610,000 |
|
$ |
— |
|
$ |
1.85 |
|
$ |
3.02 |
Apr 2022 - Nov 2022 |
|
swaps |
|
16,224 |
|
3,958,540 |
|
$ |
2.52 |
|
$ |
— |
|
$ |
— |
Apr 2022 - Dec 2022 (3) |
|
swaps |
|
78,545 |
|
21,600,000 |
|
$ |
2.55 |
|
$ |
— |
|
$ |
— |
Jan 2023 - Dec 2023 (3) |
|
swaps |
|
72,329 |
|
26,400,000 |
|
$ |
2.48 |
|
$ |
— |
|
$ |
— |
Jan 2024 - Dec 2024 (3) |
|
swaps |
|
65,574 |
|
24,000,000 |
|
$ |
2.46 |
|
$ |
— |
|
$ |
— |
Jan 2025 - Mar 2025 (3) |
|
swaps |
|
63,333 |
|
5,700,000 |
|
$ |
2.72 |
|
$ |
— |
|
$ |
— |
Apr 2025 - Dec 2025 (3) |
|
puts |
|
62,182 |
|
17,100,000 |
|
$ |
— |
|
$ |
2.27 |
|
$ |
— |
Jan 2026 - Dec 2026 (3) |
|
puts |
|
55,890 |
|
20,400,000 |
|
$ |
— |
|
$ |
2.35 |
|
$ |
— |
Jan 2027 - Dec 2027 (3) |
|
puts |
|
52,603 |
|
19,200,000 |
|
$ |
— |
|
$ |
2.37 |
|
$ |
— |
Jan 2028 - Apr 2028 (3) |
|
puts |
|
49,587 |
|
6,000,000 |
|
$ |
— |
|
$ |
2.50 |
|
$ |
— |
(2) |
MMbtu – Million British Thermal Units |
(3) |
These contracts were entered into by the Company’s wholly owned subsidiary, A-I LLC, in conjunction with the Mobile Bay Transaction (see Note 5 – Mobile Bay Transaction). |
|
| Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] |
|
|
|
|
|
|
|
|
|
March 31, 2022 |
|
December 31, 2021 |
Prepaid expenses and other current assets |
|
$ |
77,658 |
|
$ |
21,086 |
Other assets (long-term) |
|
|
49,550 |
|
|
34,435 |
Accrued liabilities |
|
|
177,298 |
|
|
81,456 |
Other liabilities (long-term) |
|
|
63,318 |
|
|
37,989 |
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
2022 |
|
2021 |
Realized loss |
|
$ |
43,694 |
|
$ |
8,244 |
Unrealized loss |
|
|
36,303 |
|
|
16,334 |
Derivative loss |
|
$ |
79,997 |
|
$ |
24,578 |
|