Annual report pursuant to Section 13 and 15(d)

FINANCIAL INSTRUMENTS (Tables)

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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the classification of the Company’s financial instruments that are required to be measured at fair value on a recurring basis on the Company’s Consolidated Balance Sheets (in thousands):
Year ended December 31, 2023 Year ended December 31, 2022
Current Assets:
Natural Gas Financial Instruments $ —  $ 10,463 
LNG Financial Futures —  — 
Current liabilities:
Contingent Consideration —  118 
Embedded derivatives 13,332  — 
Long-term liabilities
Embedded derivatives 18,892  — 
Summary of Derivative Instruments, Gain (Loss)
The following table summarizes the effect of the Company’s financial instruments which are included within Other expense, net on the Consolidated Statements of Operations (in thousands):
Year ended December 31, 2023 Year ended December 31, 2022
Natural gas financial instruments:
Realized gain (loss) $ 23,310  $ (27,179)
Unrealized (loss) gain (10,463) 10,463 
LNG financial futures contracts:
Realized gain —  3,532 
Unrealized loss —  5,161 
Contingent Consideration:
Realized gain 118  — 
Unrealized gain —  3,770 
Embedded derivative
Realized gain 1,554  — 
Unrealized gain 17,041  — 
Schedule of Derivative Instruments
The following table summarizes changes in the Company’s Embedded Derivatives (in thousands):
Year ended December 31, 2023
Balance at January 1, 2023 $ — 
Issued 56,005 
Settled (5,186)
Total gains or losses (realized and unrealized) included in earnings (18,594)
Balance at December 31, 2023
 $ 32,225