Annual report pursuant to Section 13 and 15(d)

SUBSEQUENT EVENTS

v3.22.4
SUBSEQUENT EVENTS
 12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Natural gas, Oil and NGL Derivative Instruments
Subsequent to December 31, 2022 and as of February 23, 2023, the Company entered into the following derivative contracts:
Period Type of Derivative Instrument Index Daily Volume (MMBtu) Weighted
Average Price
2023 Basis Swaps TETCO M2 76,219  $(0.85)
2023 Basis Swaps Rex Zone 3 59,452  $(0.22)
2023 Basis Swaps NGPL TXOK 42,685  $(0.34)
2024 Swaps NYMEX Henry Hub 30,000  $3.90
2024 Costless Collars NYMEX Henry Hub 60,000 
$3.17 / $3.96
Additionally, subsequent to year end, the Company restructured a portion of its natural gas sold call position by buying back a portion of its 2023 natural gas sold call position, and selling additional natural gas calls for 2023 and 2025. The following table summarizes these transactions:
Period Type of Derivative Instrument Index Daily Volume (MMBtu) Weighted
Average Price
2023 Purchased Gas Call Options NYMEX Henry Hub 134,137  $2.90
2023 Sold Gas Call Options NYMEX Henry Hub 134,137  $3.70
2025 Sold Gas Call Options NYMEX Henry Hub 160,000  $6.04
Expanded Common Stock Repurchase Program
On February 27, 2023, the Company's Board of Directors approved an increase to the authorized common stock repurchase amounts under its Repurchase Program from $300 million to $400 million. The additional $100 million authorization expires on March 31, 2024.