Derivative, weighted average ceiling price (USD per MMBtu)

  
Derivative InstrumentsCommodity Derivative InstrumentsAs of June 30, 2022, the Company had the following open natural gas financial basis swap contracts:

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|  |  |  |  | Basis Swap Purchased |  | Basis Swap Sold |
| Production Period |  | Settlement Index |  | MMBtu(in 000’s) |  | Weighted Average Price Differential |  | MMBtu (in 000’s) |  | Weighted Average Price Differential |
| July—December 2022 |  | NYMEX Henry Hub/IF Waha |  | 42,320  |  |  | $(0.70) |  | —  |  |  | — |
| July—December 2022 |  | NYMEX Henry Hub/IF HSC |  | —  |  |  | — |  | 42,320  |  |  | $(0.12) |
| October—December 2022 |  | NYMEX Henry Hub/IF Waha |  | 920  |  |  | $(1.19) |  | —  |  |  | — |
| October—December 2022 |  | NYMEX Henry Hub/IF HSC |  | —  |  |  | — |  | 920  |  |  | $(0.19) |
| January—March 2023 |  | NYMEX Henry Hub/IF Waha |  | 3,150  |  |  | $(1.06) |  | —  |  |  | — |
| January—March 2023 |  | NYMEX Henry Hub/IF HSC |  | —  |  |  | — |  | 3,150  |  |  | $(0.03) |
| January—June 2023 |  | NYMEX Henry Hub/IF Waha |  | 4,525  |  |  | $(1.54) |  | —  |  |  | — |
| January—June 2023 |  | NYMEX Henry Hub/IF HSC |  | —  |  |  | — |  | 4,525  |  |  | $(0.11) |
| July—September 2023 |  | NYMEX Henry Hub/IF Waha |  | 1,840  |  |  | $(1.62) |  | —  |  |  | — |
| July—September 2023 |  | NYMEX Henry Hub/IF HSC |  | —  |  |  | — |  | 1,840  |  |  | $(0.19) |
| January—December 2023 |  | NYMEX Henry Hub/IF Waha |  | 73,000  |  |  | $(1.15) |  | —  |  |  | — |
| January—December 2023 |  | NYMEX Henry Hub/IF HSC |  | —  |  |  | — |  | 73,000  |  |  | $(0.08) |
| January—June 2024 |  | NYMEX Henry Hub/IF Waha |  | 3,640  |  |  | $(1.25) |  | —  |  |  | — |
| January—June 2024 |  | NYMEX Henry Hub/IF HSC |  | —  |  |  | — |  | 3,640  |  |  | $(0.10) |

Foreign Currency Derivative InstrumentsThe Company has open foreign currency costless collar contracts in GBP/USD for £15 million per month for the calendar year 2022 with a weighted average floor and ceiling price of $1.29 and $1.39, respectively.Embedded DerivativesAltus Preferred Units Embedded DerivativeThe Altus Preferred Units embedded derivative was deconsolidated as of March 31, 2022 as part of the BCP Business Combination. Refer to [Note 2](#i28a24ff9302249c2abf373774f12d90c_49)[—](#i28a24ff9302249c2abf373774f12d90c_79)[Acquisitions and Divestitures](#i28a24ff9302249c2abf373774f12d90c_49) for discussion of the BCP Business Combination and [Note 12—Redeemable Noncontrolling Interest - Altus](#i28a24ff9302249c2abf373774f12d90c_79) for a description of the Altus Preferred Units and associated embedded derivative.Pipeline Capacity Embedded DerivativesDuring the fourth quarter of 2019 and first quarter of 2020, the Company entered into agreements to assign a portion of its contracted capacity under an existing transportation agreement to third parties. Embedded in these agreements were arrangements under which the Company received payments calculated based on pricing differentials between Houston Ship Channel and Waha during the calendar years 2020 and 2021. This feature required bifurcation and measurement of the change in market value throughout 2020 and 2021. Unrealized gains and losses in the fair value of this feature were recorded as “Derivative instrument gains (losses), net” under “Revenues and Other” in the statement of consolidated operations, and the balance at the end of December 31, 2021 will be amortized into income over the original tenure of the host contract.13
