| Subsequent Events Acquisition and Divestiture
On July 3, 2023, the Company closed the Percussion Acquisition and the Eagle Ford Divestiture. See “Note 5 — Acquisitions and Divestitures” for additional details.
As part of the Percussion Acquisition, the Company assumed all of Percussion Target’s oil, natural gas, and NGL hedge contracts, which are presented in the following tables:
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For the Remainder |
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For the Full Year |
| Oil Contracts (WTI) |
2023 |
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2024 |
| Collar Contracts (Three-Way Collars) |
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| Total volume (Bbls) |
1,034,556 |
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3,963,023 |
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| Weighted average price per Bbl |
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| Ceiling (short call) |
$70.20 |
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|
$78.86 |
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| Floor (long put) |
$55.00 |
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|
$58.16 |
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| Floor (short put) |
$45.00 |
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$48.16 |
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| Collar Contracts (Two-Way Collars) |
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| Total volume (Bbls) |
309,054 |
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— |
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| Weighted average price per Bbl |
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| Ceiling (short call) |
$72.40 |
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$— |
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| Floor (long put) |
$60.00 |
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$— |
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| CMA Roll Swap Contracts |
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| Total volume (Bbls) |
1,512,363 |
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— |
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| Weighted average price per Bbl |
$0.30 |
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$— |
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For the Remainder |
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For the Full Year |
| Natural Gas Contracts (Henry Hub) |
2023 |
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2024 |
| Collar Contracts |
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| Total volume (MMBtu) |
555,755 |
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6,778,555 |
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| Weighted average price per MMBtu |
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| Ceiling (short call) |
$3.69 |
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|
$3.33 |
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| Floor (long put) |
$2.86 |
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|
$3.00 |
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| Natural Gas Contracts (Waha Basis Differential) |
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| Swap Contracts |
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| Total volume (MMBtu) |
1,840,000 |
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3,660,000 |
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| Weighted average price per MMBtu |
($1.94) |
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($1.07) |
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For the Remainder |
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For the Full Year |
| NGL Contracts (Mont Belvieu Natural Gasoline) |
2023 |
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2024 |
| Swap Contracts |
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| Total volume (Bbls) |
83,510 |
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— |
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| Weighted average price per Bbl |
$56.31 |
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$— |
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| NGL Contracts (Mont Belvieu Propane) |
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| Swap Contracts |
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| Total volume (Bbls) |
71,831 |
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— |
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| Weighted average price per Bbl |
$31.37 |
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$— |
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| NGL Contracts (Mont Belvieu Purity Ethane) |
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| Swap Contracts |
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| Total volume (Bbls) |
70,428 |
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— |
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| Weighted average price per Bbl |
$9.66 |
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$— |
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| NGL Contracts (Mont Belvieu Normal Butane) |
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| Swap Contracts |
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| Total volume (Bbls) |
64,606 |
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72,105 |
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| Weighted average price per Bbl |
$35.60 |
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$33.18 |
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| NGL Contracts (Mont Belvieu Isobutane) |
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| Swap Contracts |
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| Total volume (Bbls) |
21,141 |
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23,462 |
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| Weighted average price per Bbl |
$35.47 |
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$33.18 |
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Redemption of 8.25% Senior Notes
On July 3, 2023, the Company delivered a redemption notice with respect to all $187.2 million of its outstanding 8.25% Senior Notes due 2025 (the “2025 Notes”). The Company redeemed the 2025 Notes on August 2, 2023 using borrowings under the Company’s Credit Facility.
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