Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS (Tables)

v3.23.1
SUBSEQUENT EVENTS (Tables)
3 Months Ended
Mar. 31, 2023
Subsequent Events [Abstract]  
Schedule of Natural Gas Basis Swap Positions
In addition, the Company has entered into natural gas basis swap positions. These instruments are arrangements that guarantee a fixed price differential to NYMEX Henry Hub from a specified delivery point. The Company receives the fixed price differential and pays the floating market price differential to the counterparty for the hedged community. As of March 31, 2023, the Company had the following natural gas basis swap positions open:
Gulfport Pays Gulfport Receives Daily Volume Weighted Average Fixed Spread
Natural Gas (MMBtu/d) ($/MMBtu)
Remaining 2023 Rex Zone 3 NYMEX Plus Fixed Spread 140,000  $ (0.22)
Remaining 2023 NGPL TXOK NYMEX Plus Fixed Spread 80,000  $ (0.35)
Remaining 2023 TETCO M2 NYMEX Plus Fixed Spread 170,145  $ (0.91)
2024 Rex Zone 3 NYMEX Plus Fixed Spread 70,000  $ (0.15)
2024 NGPL TXOK NYMEX Plus Fixed Spread 60,000  $ (0.31)
2024 TETCO M2 NYMEX Plus Fixed Spread 69,945  $ (0.89)
Subsequent to March 31, 2023 as of April 26, 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 13,382  $(0.88)
2024 Basis Swaps Rex Zone 3 20,000  $(0.15)
2025 Swaps NYMEX Henry Hub 50,000  $4.08