Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value

We use a market approach for our recurring fair value measurements and endeavor to use the best information available. Accordingly, valuation techniques that maximize the use of observable impacts are favored. The following tables present the fair value hierarchy table for assets and liabilities measured at fair value, on a recurring basis (in thousands):

		Fair Value Measurements at December 31, 2023 Using:
		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Carrying Value as of December 31, 2023
Trading securities held in the deferred    compensation plans		$	71,989	$	—	$	—		$	71,989
Derivatives	–swaps		—		247,580		—			247,580
	–collars		—		152,540		—			152,540
	–three-way collars		—		25,406		—			25,406
	–basis swaps		—		18,277		—			18,277
	–swaptions		—		—		(1,161	)		(1,161	)

		Fair Value Measurements at December 31, 2022 Using:
		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Carrying Value as of December 31, 2022
Trading securities held in the deferred    compensation plans		$	57,717	$	—		$	—	$	57,717
Derivatives	–swaps		—		(109,844	)		—		(109,844	)
	–collars		—		(16,837	)		—		(16,837	)
	–three-way collars		—		(11,917	)		—		(11,917	)
	–basis swaps		—		521			—		521
Divestiture contingent consideration			—		13,080			—		13,080

Reconciliation of the Beginning and Ending Balances for Derivative Instruments Classified as Level 3 in the Fair Value Hierarchy

The following is a reconciliation of the beginning and ending balances for derivative instruments classified as Level 3 in the fair value hierarchy (in thousands):

	Year Ended December 31, 2023
Balance at December 31, 2022	$	—
Additions		(1,161	)
Settlements		—
Transfers out of Level 3		—
Balance at December 31, 2023	$	(1,161	)

Carrying Amounts and Fair Values of Financial Instruments

The following table presents the carrying amounts and the fair values of our financial instruments as of December 31, 2023 and 2022 (in thousands):

	December 31, 2023						December 31, 2022
	Carrying Value			Fair Value			Carrying Value			Fair Value
Assets:
Commodity swaps, collars and basis swaps	$	442,971		$	442,971		$	28,835		$	28,835
Divestiture contingent consideration		—			—			13,080			13,080
Marketable securities (a)		71,989			71,989			57,717			57,717
(Liabilities):
Commodity swaps, collars and basis swaps		(329	)		(329	)		(166,912	)		(166,912	)
Bank credit facility (b)		—			—			(19,000	)		(19,000	)
4.875% senior notes due 2025 (b)		(688,388	)		(679,363	)		(750,000	)		(714,870	)
8.25% senior notes due 2029 (b)		(600,000	)		(624,816	)		(600,000	)		(618,312	)
4.75% senior notes due 2030 (b)		(500,000	)		(463,085	)		(500,000	)		(442,350	)
Deferred compensation plan (c)		(117,125	)		(117,125	)		(189,241	)		(189,241	)

(a)	Marketable securities, which are held in our deferred compensation plans, are actively traded on major exchanges and are updated based on end of period closing prices which is a Level 1 input.
(b)	The book value of our bank debt approximates fair value because of its floating rate structure. The fair value of our senior notes is based on end of period market quotes which are Level 2 inputs.
(c)	The fair value of our deferred compensation plan is updated at the closing price on the balance sheet date which is a Level 1 input.