DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
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12 Months Ended |
Dec. 31, 2022 |
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| Notes Tables |
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| Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] |
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Average |
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Instrument |
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Daily |
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Total |
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Weighted |
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Weighted |
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Weighted |
Period |
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Type |
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Volumes |
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Volumes |
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Strike Price |
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Put Price |
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Call Price |
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Natural Gas - Henry Hub (NYMEX) |
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(MMbtu) |
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(MMbtu) |
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($/MMbtu) |
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($/MMbtu) |
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($/MMbtu) |
Jan 2023 - Dec 2023 |
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calls |
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70,000 |
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25,550,000 |
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$ |
— |
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$ |
— |
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$ |
7.50 |
Jan 2024 - Dec 2024 |
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calls |
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65,000 |
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23,790,000 |
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$ |
— |
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$ |
— |
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$ |
6.13 |
Jan 2025 - Mar 2025 |
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calls |
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62,000 |
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5,580,000 |
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$ |
— |
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$ |
— |
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$ |
5.50 |
Jan 2023 - Dec 2023(1) |
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swaps |
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72,329 |
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26,400,000 |
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$ |
2.48 |
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$ |
— |
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$ |
— |
Jan 2024 - Dec 2024(1) |
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swaps |
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65,574 |
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24,000,000 |
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$ |
2.46 |
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$ |
— |
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$ |
— |
Jan 2025 - Mar 2025(1) |
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swaps |
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63,333 |
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5,700,000 |
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$ |
2.72 |
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$ |
— |
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$ |
— |
Apr 2025 - Dec 2025(1) |
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puts |
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62,182 |
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17,100,000 |
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$ |
— |
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$ |
2.27 |
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$ |
— |
Jan 2026 - Dec 2026(1) |
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puts |
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55,890 |
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20,400,000 |
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$ |
— |
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$ |
2.35 |
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$ |
— |
Jan 2027 - Dec 2027(1) |
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puts |
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52,603 |
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19,200,000 |
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$ |
— |
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$ |
2.37 |
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$ |
— |
Jan 2028 - Apr 2028(1) |
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puts |
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49,587 |
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6,000,000 |
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$ |
— |
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$ |
2.50 |
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$ |
— |
(1) |
These contracts were entered into by the Company’s wholly owned subsidiary, A-I LLC (see Note 4 – Subsidiary Borrowers). |
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| Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] |
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December 31, |
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2022 |
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2021 |
Prepaid expenses and other current assets |
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$ |
4,954 |
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$ |
21,086 |
Other assets (long-term) |
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23,236 |
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34,435 |
Accrued liabilities |
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46,595 |
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81,456 |
Other liabilities (long-term) |
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43,061 |
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37,989 |
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Year Ended December 31, |
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2022 |
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2021 |
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2020 |
Realized loss (gain)(1) |
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$ |
125,089 |
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$ |
95,187 |
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$ |
(33,415) |
Unrealized (gain) loss |
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(39,556) |
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80,126 |
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9,607 |
Derivative loss (gain) |
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85,533 |
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175,313 |
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(23,808) |
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(1) |
The year ended December 31, 2022 includes the effects of the $138.0 million realized gain related to the monetization of certain natural gas call contracts through restructuring of strike prices which occurred in June 2022. |
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| Schedule of Cash Receipts and Payments on Commodity Derivative Contract Settlements [Table Text Block] |
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Year Ended December 31, |
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2022 |
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2021 |
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2020 |
Derivative loss (gain) |
$ |
85,533 |
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$ |
175,313 |
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$ |
(23,808) |
Derivative cash (payments) receipts, net(1) |
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(41,880) |
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(81,298) |
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45,196 |
Derivative cash premium payments |
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(46,111) |
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(40,484) |
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— |
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(1) |
The year ended December 31, 2022 includes $105.3 million of net cash receipts related to the monetization of certain natural gas call contracts through restructuring of strike prices. |
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