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Similarly, any improvements in natural gas and oil prices can have a favorable impact on our financial condition, results of operations and capital resources.
−Removed: As of June 30, 2021, we had natural gas price swap agreements which hedge approximately 180.1 Bcf of our 2021 and 2022 natural gas production at an average price of $2.62 per MMBtu and natural gas swaption contracts where the counterparty has the right to exercise a call option to enter into a price swap with the Company on 43.8 Bcf of our 2022 natural gas production at an average price of $2.51 per MMBtu.
−Removed: We also had natural gas collars to hedge approximately 188.2 Bcf of our 2021 and 2022 natural gas production with an average floor price of $2.50 per MMBtu and an average ceiling price of $3.29 per MMBtu.
+Added: As of September 30, 2021, we had natural gas price swap agreements which hedge approximately 129.0 Bcf of our 2021 and 2022 natural gas production at an average price of $2.66 per MMBtu and natural gas swaption contracts where the counterparty has the right to exercise a call option to enter into a price swap with the Company on 43.8 Bcf of our 2022 natural gas production at an average price of $2.51 per MMBtu.
+Added: We also had natural gas collars to hedge approximately 185.1 Bcf of our 2021 through 2023 natural gas production with an average floor price of $2.60 per MMBtu and an average ceiling price of $3.74 per MMBtu.
We also have oil collars to hedge 138,000 Bbls with an average floor price of $41.67 per Bbl and an average ceiling price of $51.67 per Bbl.
None of our derivative contracts have margin requirements or collateral provisions that could require funding prior to the scheduled cash settlement date.
−Removed: The change in the fair value of our natural gas swaps that would result from a 10% change in commodities prices at June 30, 2021 would be $49.2 million.
−Removed: Such a change in fair value could be a gain or a loss depending on whether prices increase or decrease.
−Removed: Based on our oil and natural gas production for the three months ended June 30, 2021 and our outstanding natural gas price swap agreements, a $0.10 change in the price per Mcf of natural gas would have changed our cash flow by approximately $12.7 million.
−Removed: Our natural gas collars, which cover the period July 1, 2021 through December 31, 2021, will result in natural gas prices on 74.2 Bcf of our future production to be subject to a floor price of $2.47 per MMBtu and an average ceiling price of $3.04 per MMBtu.
−Removed: Our crude oil price collars which cover the period July 1, 2021 through December 31, 2021 will result in oil prices on 276,000 Bbls of our future oil production to be subject to a floor price of $41.67 per Bbl and an average ceiling price of $51.67 per Bbl.
−Removed: These collars may increase or decrease our cash flow depending upon whether future prices are below the floor or above the ceiling prices.
+Added: An increase of 10% in the market price of natural gas on September 30, 2021 would decrease the fair value of our natural gas swaps and collars by approximately $125.0 million.
+Added: A decrease of 10% in the market price of natural gas on September 30, 2021 would increase the fair value of our natural gas swaps and collars by approximately $92.5 million.
+Added: The impact of hypothetical changes in market prices of natural gas on our natural gas derivative financial instruments discussed above does not include the offsetting impact that the same hypothetical changes in market prices of natural gas may have on our physical sales of natural gas.
+Added: Since our outstanding natural gas derivative financial instruments hedge only a portion of our forecasted physical gas production, a positive or negative impact to the fair value of our natural gas derivative financial instruments would be partially offset by our physical sales of natural gas.
Interest Rates
−Removed: At June 30, 2021, we had approximately $2.5 billion principal amount of long-term debt outstanding.
−Removed: $965.0 million of our long-term debt bear interest at a fixed rate of 5.875%, $1.25 billion of our long-term debt bear interest at a fixed rate of 6.75% and $244.4 million of our long-term debt bear interest at a fixed rate of 7.50% (the "2025 Notes").
−Removed: The fair market value of the 2030 Notes, 2029 Notes and 2025 Notes as of June 30, 2021 was $984.3 million, $1,328.1 million and $253.6 million, respectively, based on the market price of approximately 102%, 106% and 104% of the face amount of such debt.
−Removed: At June 30, 2021, we had $475.0 million outstanding under our bank credit facility, which is subject to variable rates of interest that are tied to LIBOR or the corporate base rate, at our option.
+Added: At September 30, 2021, we had approximately $2.5 billion principal amount of long-term debt outstanding.
+Added: $965.0 million of our long-term debt bear interest at a fixed rate of 5.875%, $1.25 billion of our long-term debt bear interest at a fixed rate of 6.75% and $244.4 million of our long-term debt bear interest at a fixed rate of 7.50%.
+Added: The fair market value of the 2030 Notes, 2029 Notes and 2025 Notes as of September 30, 2021 was $1.0 billion, $1.3 billion and $253.9 million, respectively, based on the market price of approximately 104%, 108% and 104% of the face amount of such debt.
+Added: At September 30, 2021, we had $425.0 million outstanding under our bank credit facility, which is subject to variable rates of interest that are tied to LIBOR or the corporate base rate, at our option.
We have interest rate swap agreements that fix LIBOR at 0.33% for $500.0 million of our floating rate long-term debt.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.