Table of Contents Index to Financial Statements For the years ended December 31, 2019 2018 Increase/ (Decrease) Natural Gas Price: NYMEX Henry Hub Price  ($/MMbtu) (1) $ 2.63  $ 3.09  (15)% Discount to NYMEX  (2) (0.65) (0.64) 2%  Average realized gas price, excluding derivatives  ($/Mcf) $ 1.98  $ 2.45  (19)% Loss on settled financial basis derivatives  ($/Mcf) —  (0.04) Gain (loss) on settled commodity derivatives  ($/Mcf) 0.20  (0.06) Average realized gas price, including derivatives  ($/Mcf) $ 2.18  $ 2.35  (7)% Oil Price: WTI oil price  ($/Bbl) $ 57.03  $ 64.77  (12)% Discount to WTI (10.13) (7.98) 27%  Average oil price, excluding derivatives  ($/Bbl) $ 46.90  $ 56.79  (17)% Gain (loss) on settled derivatives  ($/Bbl) 2.66  (0.72) Average oil price, including derivatives  ($/Bbl) $ 49.56  $ 56.07  (12)% NGL Price: Average realized NGL price, excluding derivatives  ($/Bbl) $ 11.59  $ 17.91  (35)% Gain (loss) on settled derivatives  ($/Bbl) 2.05  (0.68) Average realized NGL price, including derivatives  ($/Bbl) $ 13.64  $ 17.23  (21)% Percentage of WTI, excluding derivatives 20  % 28  % Total Weighted Average Realized Price: Excluding derivatives  ($/Mcfe) $ 2.18  $ 2.66  (18)% Including derivatives  ($/Mcfe) $ 2.42  $ 2.57  (6)% (1) Based on last day settlement prices from monthly futures contracts. (2) This discount includes a basis differential, a heating content adjustment, physical basis sales, third-party transportation charges and fuel charges, and excludes financial basis hedges. We receive a sales price for our natural gas at a discount to average monthly NYMEX settlement prices based on heating content of the gas, locational basis differentials and transportation and fuel charges. Additionally, we receive a sales price for our oil and NGLs at a difference to average monthly West Texas Intermediate settlement and Mont Belvieu NGL composite prices, respectively, due to a number of factors including product quality, composition and types of NGLs sold, locational basis differentials and transportation and fuel charges. We regularly enter into various hedging and other financial arrangements with respect to a portion of our projected natural gas, oil and NGL production in order to ensure certain desired levels of cash flow and to minimize the impact of price fluctuations, including fluctuations in locational market differentials. We refer you to Item 7A,  Quantitative and Qualitative Disclosures about Market Risk , of this Annual Report,  Note 6 to the consolidated financial statements included in this Annual Report, and our derivative risk factor for additional discussion about our derivatives and risk management activities. The table below presents the amount of our future production in which the impact of basis volatility has been limited as of December 31, 2019: Volume  (Bcf) Basis Differential Financial Basis Swaps – Natural Gas 2020 198  $ (0.31) 2021 86  0.04  2022 45  (0.50) Total 329  Physical Sales Arrangements – Natural Gas 2020 165  $ (0.04) 2021 50  (0.28) Total 215  54