Item 2.02. Results of Operations and Financial Condition.

Below are the preliminary results for the Company's commodity derivatives, weighted-average common shares outstanding and average sales prices for the three months ended September 30, 2021, as provided by the Company on October 20, 2021:

Commodity Derivatives Update



The following table presents net settlements for matured commodity derivatives
for the period presented:

                                                                               Three months ended
(in millions)                                                                  September 30, 2021
Oil                                                                            $          (43.8)
NGL                                                                                       (30.9)
Natural gas                                                                               (16.8)

Net settlements (paid) for matured commodity derivatives                       $          (91.5)

The Company records all derivatives on its consolidated balance sheet as assets and/or liabilities measured at their estimated fair value. The Company has not designated any derivatives as hedges for accounting purposes and does not enter into such instruments for speculative trading purposes. Settlements paid for matured commodity derivatives are included in the line item "Gain (loss) on derivatives, net" reported under "Non-operating income (expense)" on the Company's consolidated statements of operations.

Weighted-Average Common Shares Outstanding

The following table presents the Company's basic and diluted weighted-average common shares for the period presented:



(in millions)          Three months ended September 30, 2021

Basic                                      15.8
Diluted                                    16.0



Average Sales Prices

The following table presents average sales prices(1) for the period presented:



                            Three months ended September 30, 2021
Oil ($/Bbl)                $                                70.56
NGL ($/Bbl)                $                                26.20
Natural gas ($/Mcf)        $                                 2.87

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(1)Price reflects the average of actual sales prices received when control passes to the purchaser/customer adjusted for quality, certain transportation fees, geographical differentials, marketing bonuses or deductions and other factors affecting the price received at the delivery point.

In accordance with General Instruction B.2 of Form 8-K, the information furnished under this Item 2.02 of this Current Report on Form 8-K is deemed to be "furnished" and shall not be deemed "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.

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