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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Schedule of fair value measurement information for financial instruments measured on a recurring basis
The following table provides fair value measurement information for financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 and 2018:

 
December 31, 2019
 
December 31, 2018
 
Level 1
Level 2
Level 3
 
Level 1
Level 2
Level 3
 
(in millions)
Assets:
 
 
 
 
 
 
 
Investment
$
19

$
—

$
—

 
$
14

$
—

$
—

Fixed price swaps
$
—

$
26

$
—

 
$
—

$
216

$
—

Liabilities:
 
 
 
 
 
 
 
Fixed price swaps
$
—

$
—

$
—

 
$
—

$
—

$
—


The following table summarizes the changes in fair value of Viper’s cost method investment during the periods presented:
 
(in millions)
Value at December 31, 2018
$
14

Gain on investment
5

Value at December 31, 2019
$
19

 
 
Value at December 31, 2017
$
34

Impact of adoption of Accounting Standards Update 2016-01
(19
)
Loss on investment
(1
)
Value at December 31, 2018
$
14
Schedule of fair value measurement information for financial instruments measured on a nonrecurring basis
The following table provides the fair value of financial instruments that are not recorded at fair value in the consolidated balance sheets:
 
December 31, 2019
 
December 31, 2018
 
Carrying
 
 
 
Carrying
 
 
 
Amount
 
Fair Value
 
Amount
 
Fair Value
 
(in thousands)
Debt:
 
 
 
 
 
 
 
Revolving credit facility
$
13

 
$
13

 
$
1,490

 
$
1,490

4.625% Notes due 2021
399

 
411

 
400

 
393

7.320% Medium-term Notes, Series A, due 2022
21

 
22

 
20

 
21

2.875% Senior Notes due 2024(1)
992

 
1,012

 
—

 
—

4.750% Senior Notes due 2024(1)
—

 
—

 
1,236

 
1,204

5.375% Senior Notes due 2025(1)
799

 
840

 
799

 
782

3.250% Senior Notes due 2026(1)
792

 
812

 
—

 
—

7.350% Medium-term Notes, Series A, due 2027
11

 
12

 
10

 
11

7.125% Medium-term Notes, Series B, due 2028
108

 
116

 
100

 
102

3.500% Senior Notes due 2029(1)
1,186

 
1,226

 
—

 
—

Viper revolving credit facility
97

 
97

 
411

 
411

Viper's 5.375% Senior Notes due 2027
490

 
521

 
—

 
—

Rattler revolving credit facility
424

 
424

 
—

 
—

DrillCo Agreement
$
39

 
$
39

 
$
—

 
$
—


(1)
The carrying value includes associated deferred loan costs and any discount.