Annual report pursuant to Section 13 and 15(d)

Derivative Financial Instruments (Tables)

v3.22.0.1
Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2021
Notes Tables  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

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)

Jan 2022 - Nov 2022

swaps

2,525

843,256

$

49.99

$

$

Jan 2022 - Nov 2022

 

collars

 

2,428

 

811,096

 

$

 

$

41.71

 

$

58.91

Natural Gas - Henry Hub (NYMEX)

(MMbtu)(2)

(MMbtu)(2)

($/MMbtu)(2)

($/MMbtu)(2)

($/MMbtu)(2)

Jan 2022 - Dec 2022

calls

116,853

42,651,402

$

$

$

3.93

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

Jan 2022 - Dec 2022

collars

47,370

17,290,000

$

$

1.89

$

3.17

Jan 2022 - Nov 2022

swaps

17,160

5,731,485

$

2.60

$

$

Jan 2022 - Dec 2022 (3)

swaps

78,904

28,800,000

$

2.69

$

$

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

$

(1)

Bbls – Barrels

(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 4 – Mobile Bay Transaction).

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

December 31, 

    

2021

    

2020

Prepaid expenses and other current assets

$

21,086

$

2,752

Other assets (long-term)

 

34,435

 

2,762

Accrued liabilities

 

81,456

 

13,620

Other liabilities (long-term)

37,989

4,384

Year Ended December 31, 

    

2021

    

2020

    

2019

Realized loss (gain)

$

95,187

$

(33,415)

$

884

Unrealized loss (gain)

80,126

9,607

59,003

Derivative loss (gain)

175,313

(23,808)

59,887

Schedule of Cash Receipts and Payments on Commodity Derivative Contract Settlements [Table Text Block]

Cash payments on commodity derivative contract settlements, net, are included within Net cash provided by operating activities on the Consolidated Statements of Cash Flows and were as follows (in thousands):

Year Ended December 31, 

    

2021

    

2020

    

2019

Derivative loss (gain)

$

175,313

$

(23,808)

$

59,887

Derivative cash (payments) receipts, net

(81,298)

45,196

22,064

Derivative cash premium payments

(40,484)

(8,123)