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FAIR VALUE (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Financial instruments measured at fair value on recurring basis The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2019 and 2018.
Fair Value Measurements at Using
December 31, 2019 Using
(In thousands)Quoted Prices In Active Markets for Identical Assets
(Liabilities)
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Commodity Derivatives – Current Asset (crude oil price swaps)$—  $5,628  $—  
Commodity Derivatives – Current Liabilities (crude oil price swaps)$—  $(11,298) $—  
Commodity Derivatives – Noncurrent Asset (crude oil price swaps and crude oil price swaptions)—  8,554  —  
Commodity Derivatives – Noncurrent Liabilities (crude oil price swaps and crude oil swaptions)—  (8,079) —  
Total$—  $(5,195) $—  
Fair Value Measurements at
December 31, 2018 Using






(In thousands)
Quoted Prices In Active Markets for Identical Assets
(Liabilities)
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Commodity Derivatives – Current Asset (crude oil price and basis swaps)$—  $115,870  $—  
Commodity Derivatives – Non-Current Asset (crude oil price swaps)—  61,843  —  
Contingent Consideration - Current Liabilities—  —  (58,069) 
Debt Exchange Derivatives - Current Liabilities—  —  (18,183) 
Commodity Derivatives – Noncurrent Liabilities (crude oil price swaps)—  —  —  
Total$—  $177,713  $(76,252) 
Changes in fair value of financing instruments classified as Level 3 The following table summarizes the changes in fair value of the Company’s financial instruments classified as Level 3 in the fair value hierarchy:
(In thousands)Year Ended December 31, 2019
Beginning Balance$(76,252) 
Debt exchange derivative liability settlements16,793  
Change in fair value of debt exchange derivative liability1,390  
Contingent consideration settlements87,581  
Change in fair value of contingent consideration(29,512) 
Ending Balance$—