FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2021

Summary of the valuation of the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis

The following tables summarize the valuation of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis in accordance with the classifications provided above as of June 30, 2021 and December 31, 2020 (in thousands).


	Fair Value Measurements at June 30, 2021 using
Description	Level 1		Level 2		Level 3		Total
Assets (Liabilities)
Oil derivatives and basis swaps	$	—	$	(116,016)	$	—	$	(116,016)
Natural gas derivatives	—		(6,100)		—		(6,100)
Total	$	—	$	(122,116)	$	—	$	(122,116)


	Fair Value Measurements at December 31, 2020 using
Description	Level 1		Level 2		Level 3		Total
Assets (Liabilities)
Oil derivatives and basis swaps	$	—	$	(41,584)	$	—	$	(41,584)
Natural gas derivatives	—		5,695		—		5,695
Total	$	—	$	(35,889)	$	—	$	(35,889)