Quarterly report [Sections 13 or 15(d)]

FINANCIAL INSTRUMENTS (Tables)

v3.25.1
FINANCIAL INSTRUMENTS (Tables)
3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Contracted Volumes and Weighted Average Prices of Open Derivative Contracts

The following table reflects the contracted volumes and weighted average prices under the terms of the Company’s open Henry Hub (NYMEX) derivative contracts as of March 31, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Average

​

​

​

Costless Collar

​

Puts

​

​

​

​

Daily

​

Total

​

Weighted

​

Weighted

​

Weighted

​

​

Instrument

​

Volumes

    

Volumes

    

Floor Price

    

Ceiling Price

    

Floor Price

Period

    

Type

    

(Mmbtu)

​

(Mmbtu)

​

​

($/Mmbtu)

​

​

($/Mmbtu)

​

​

($/Mmbtu)

Apr 2025 - Dec 2025

​

costless collar

​

70,000

​

19,250,000

​

$

4.02

​

$

5.32

​

$

—

Apr 2025 - Dec 2025

​

puts

​

62,182

​

17,100,000

​

$

—

​

$

—

​

$

2.27

Jan 2026 - Dec 2026

​

puts

​

55,890

​

20,400,000

​

$

—

​

$

—

​

$

2.35

Jan 2027 - Dec 2027

​

puts

​

52,603

​

19,200,000

​

$

—

​

$

—

​

$

2.37

Jan 2028 - Apr 2028

​

puts

​

49,587

​

6,000,000

​

$

—

​

$

—

​

$

2.50

​

​

​

​

​

​

(1)

MMbtu – Million British Thermal Units

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The fair value of the Company’s derivative financial instruments was recorded in the Condensed Consolidated Balance Sheets as follows (in thousands):

​

​

​

​

​

​

​

​

    

March 31, 

​

December 31, 

​

​

2025

​

2024

Prepaid expenses and other current assets

​

$

5,481

​

$

868

Other assets

​

 

3,805

​

 

4,150

Accrued liabilities

​

 

5,430

​

 

3,731

Other liabilities

​

​

—

​

​

—

The impact of commodity derivative contracts on the Condensed Consolidated Statements of Operations were as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

Three Months Ended March 31, 

​

​

    

2025

    

2024

    

Realized loss (gain)

​

$

3,639

​

$

(3,755)

​

Unrealized gain

​

​

(882)

​

​

(1,122)

​

Derivative loss (gain), net

​

$

2,757

​

$

(4,877)

​

Schedule of Net Values and Estimated Fair Values of Debt Instruments

The following table presents the net values and estimated fair values of the Company’s debt (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

March 31, 2025

    

December 31, 2024

​

​

Net Value

    

Fair Value

    

Net Value

    

Fair Value

Term Loan

​

$

—

​

$

—

​

$

112,132

​

$

109,727

11.75% Notes

​

​

—

​

 

—

​

 

272,081

​

 

278,765

10.75% Notes

​

​

341,172

​

​

339,283

​

​

—

​

​

—

TVPX Loan

​

​

8,875

​

​

9,199

​

​

9,010

​

​

9,395

Total

​

$

350,047

​

$

348,482

​

$

393,223

​

$

397,887