Fair Value Measurements of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Measurements of Financial Instruments

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the gross derivative assets and liabilities that are measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021 for each of the fair value hierarchy levels:

	Fair Value Measurements at March 31, 2022
					Significant
	Quoted Prices in		Significant Other		Unobservable
	Active Market		Observable Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Fair Value
	(In thousands)
Assets:
Commodity derivatives	$	—	$	11,819	$	—	$	11,819
Interest rate derivatives		—		234		—		234
Total assets	$	—	$	12,053	$	—	$	12,053
Liabilities:
Commodity derivatives	$	—	$	136,465	$	—	$	136,465
Interest rate derivatives		—		87		—		87
Total liabilities	$	—	$	136,552	$	—	$	136,552

	Fair Value Measurements at December 31, 2021
					Significant
	Quoted Prices in		Significant Other		Unobservable
	Active Market		Observable Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Fair Value
	(In thousands)
Assets:
Commodity derivatives	$	—	$	7,967	$	—	$	7,967
Interest rate derivatives		—		—		—		—
Total assets	$	—	$	7,967	$	—	$	7,967
Liabilities:
Commodity derivatives	$	—	$	70,152	$	—	$	70,152
Interest rate derivatives		—		623		—		623
Total liabilities	$	—	$	70,775	$	—	$	70,775