Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events (Tables)

v3.20.2
Subsequent Events (Tables)
 6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
Schedule of Outstanding Oil and Natural Gas Derivative Contracts
Listed in the tables below are the outstanding oil, natural gas and NGL derivative contracts as of June 30, 2020:  
For the Remainder For the Full Year
Oil contracts (WTI) of 2020 of 2021
   Swap contracts
   Total volume (Bbls) 6,291,880    —   
   Weighted average price per Bbl $42.08    $—   
   Collar contracts
   Total volume (Bbls) 2,863,040    —   
   Weighted average price per Bbl
   Ceiling (short call) $45.00    $—   
   Floor (long put) $35.00    $—   
   Short put contracts
      Total volume (Bbls) 1,104,000    —   
      Weighted average price per Bbl $42.50    $—   
   Long call contracts
    Total volume (Bbls) 920,000    —   
    Weighted average price per Bbl $67.50    $—   
   Short call contracts
   Total volume (Bbls) 920,000   
(1)
 4,825,300   
(1)
   Weighted average price per Bbl $55.00    $63.62   
Oil contracts (WTI Calendar Month Average Roll)
Swap contracts
Total volume (Bbls) 3,864,000    —   
Weighted average price per Bbl ($2.75)   $—   
Oil contracts (Brent ICE)    
   Swap contracts
   Total volume (Bbls) 184,000    1,272,450   
   Weighted average price per Bbl $46.15    $38.24   
Oil contracts (Midland basis differential)
   Swap contracts
   Total volume (Bbls) 4,609,200    4,015,100   
   Weighted average price per Bbl ($0.98)   $0.40   
Oil contracts (Argus Houston MEH basis differential)
   Swap contracts
   Total volume (Bbls) 3,256,004    —   
   Weighted average price per Bbl $0.06    $—   
Oil contracts (Argus Houston MEH swaps)
   Swap contracts
   Total volume (Bbls) 368,000    2,969,050   
   Weighted average price per Bbl $57.71    $39.48   

(1) Premiums from the sale of call options were used to increase the fixed price of certain simultaneously executed price swaps.
For the Remainder For the Full Year
Natural gas contracts (Henry Hub) of 2020 of 2021
   Swap contracts
      Total volume (MMBtu) 5,530,000    12,923,000   
      Weighted average price per MMBtu $2.21    $2.66   
   Collar contracts (three-way collars)
      Total volume (MMBtu) 2,755,000    1,350,000   
      Weighted average price per MMBtu
         Ceiling (short call) $2.73    $2.70   
         Floor (long put) $2.47    $2.42   
         Floor (short put) $2.00    $2.00   
Collar contracts (two-way collars)
      Total volume (MMBtu) 1,525,000    7,750,000   
      Weighted average price per MMBtu
         Ceiling (short call) $3.25    $2.93   
         Floor (long put) $2.67    $2.55   
   Short call contracts
      Total volume (MMBtu) 6,072,000    7,300,000   
      Weighted average price per MMBtu $3.50    $3.09   
Natural gas contracts (Waha basis differential)
   Swap contracts
      Total volume (MMBtu) 12,885,000    —   
      Weighted average price per MMBtu ($0.92)   $—   

For the Remainder For the Full Year
NGL contracts (OPIS Mont Belvieu Purity Ethane) of 2020 of 2021
   Swap contracts
      Total volume (Bbls) —    1,825,000   
      Weighted average price per Bbl $—    $7.62   
See “Note 15 - Subsequent Events” for additional information regarding derivative contracts entered into subsequent to June 30, 2020.
Subsequent to June 30, 2020, the Company entered into the following derivative contracts:
For the Remainder For the Full Year
Oil contracts (WTI) of 2020 of 2021
   Swap contracts
   Total volume (Bbls) —    1,377,000   
   Weighted average price per Bbl $—    $42.00   
   Collar contracts
   Total volume (Bbls) —    3,741,250   
   Weighted average price per Bbl
         Ceiling (short call) $—    $45.02   
         Floor (long put) $—    $40.00   
   Short call swaption contracts
   Total volume (Bbls) —    730,000   
(1)
   Weighted average price per Bbl $—    $47.00   
Oil contracts (Midland basis differential)
   Long swap contracts
   Total volume (Bbls) 1,514,500    —   
   Weighted average price per Bbl $0.60    $—   
Natural gas contracts (Henry Hub)
   Swap contracts
      Total volume (MMBtu) 3,036,000    —   
      Weighted average price per MMBtu $1.80    $—   
   Long call contracts
   Total volume (MMBtu) 3,036,000    —   
   Weighted average price per MMBtu $3.50    $—   
Natural gas contracts (Waha basis differential)
   Swap contracts
      Total volume (MMBtu) —    6,387,500   
      Weighted average price per MMBtu $—    ($0.58)  

(1) The short call swaption contract has an exercise expiration date of October 30, 2020.