| Schedule of Outstanding Oil and Natural Gas Derivative Contracts |
Listed in the tables below are the outstanding oil and natural gas derivative contracts as of March 31, 2020:
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For the Remainder |
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For the Full Year |
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| Oil contracts (WTI) |
of 2020 |
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of 2021 |
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| Swap contracts |
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| Total volume (Bbls) |
13,085,720 |
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— |
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| Weighted average price per Bbl |
$42.11 |
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$— |
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| Swap contracts with short puts |
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| Total volume (Bbls) |
1,650,000 |
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— |
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| Weighted average price per Bbl |
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| Swap |
$56.06 |
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$— |
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| Floor (short put) |
$42.50 |
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$— |
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| Short call contracts |
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| Total volume (Bbls) |
2,750,000 |
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(1) |
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4,825,300 |
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(1) |
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| Weighted average price per Bbl |
$45.59 |
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$63.62 |
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| Oil contracts (Brent ICE) |
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| Swap contracts |
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| Total volume (Bbls) |
366,000 |
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— |
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| Weighted average price per Bbl |
$46.15 |
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$— |
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| Oil contracts (Midland basis differential) |
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| Swap contracts |
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| Total volume (Bbls) |
6,574,800 |
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4,015,100 |
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| Weighted average price per Bbl |
($1.24) |
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$0.40 |
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| Oil contracts (Argus Houston MEH basis differential) |
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| Swap contracts |
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| Total volume (Bbls) |
4,612,205 |
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— |
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| Weighted average price per Bbl |
($0.24) |
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$— |
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| Oil contracts (Argus Houston MEH swaps) |
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| Swap contracts |
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| Total volume (Bbls) |
504,500 |
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— |
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| Weighted average price per Bbl |
$58.22 |
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$— |
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| Natural gas contracts (Henry Hub) |
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| Collar contracts (three-way collars) |
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| Total volume (MMBtu) |
3,665,000 |
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1,350,000 |
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| Weighted average price per MMBtu |
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| Ceiling (short call) |
$2.74 |
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$2.70 |
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| Floor (long put) |
$2.48 |
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$2.42 |
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| Floor (short put) |
$2.00 |
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$2.00 |
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| Swap contracts |
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| Total volume (MMBtu) |
9,170,000 |
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— |
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| Weighted average price per MMBtu |
$2.20 |
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$— |
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| Short call contracts |
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| Total volume (MMBtu) |
9,075,000 |
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7,300,000 |
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| Weighted average price per MMBtu |
$3.50 |
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$3.09 |
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| Natural gas contracts (Waha basis differential) |
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| Swap contracts |
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| Total volume (MMBtu) |
18,982,000 |
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— |
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| Weighted average price per MMBtu |
($1.08) |
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$— |
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(1) Premiums from the sale of call options were used to increase the fixed price of certain simultaneously executed price swaps.
Subsequent to March 31, 2020, the Company entered into the following derivative contracts:
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For the Remainder |
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For the Full Year |
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| Oil contracts (WTI) |
of 2020 |
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of 2021 |
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| Swap contracts |
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| Total volume (Bbls) |
915,000 |
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— |
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| Weighted average price per Bbl |
$29.77 |
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$— |
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| Oil contracts (WTI Calendar Month Average Roll) |
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| Swap contracts |
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| Total volume (Bbls) |
5,697,500 |
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— |
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| Weighted average price per Bbl |
($2.66) |
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$— |
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| Oil contracts (Brent ICE differential) |
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| Swap contracts |
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| Total volume (Bbls) |
396,800 |
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— |
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| Weighted average price per Bbl |
($4.00) |
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$— |
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| Natural gas contracts (Henry Hub) |
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| Collar contracts |
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| Total volume (MMBtu) |
1,525,000 |
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7,750,000 |
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| Weighted average price per MMBtu |
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| Ceiling (short call) |
$3.25 |
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$2.93 |
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| Floor (long put) |
$2.67 |
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$2.55 |
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| Swap contracts |
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| Total volume (MMBtu) |
— |
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8,675,000 |
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| Weighted average price per MMBtu |
$— |
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$2.70 |
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