Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Summary of Long-Term Debt with Fixed Interest Rates

The following table summarizes the fair value of our long-term debt with fixed interest rates, which is estimated based on the published market prices for these debt obligations, as of the dates presented:



	As of
	September 30, 2015				December 31, 2014
	Fair Value		Carrying Value		Fair Value		Carrying Value
Senior Notes due 2019	$	68,272	$	300,000	$	234,000	$	300,000
Senior Notes due 2020	197,675		775,000		620,000		775,000
	$	265,947	$	1,075,000	$	854,000	$	1,075,000

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize the valuation of those assets and liabilities as of the dates presented:



	As of September 30, 2015
	Fair Value		Fair Value Measurement Classification
Description	Measurement		Level 1		Level 2		Level 3
Assets:
Commodity derivative assets – current	$	96,211	$	—	$	96,211	$	—
Commodity derivative assets – noncurrent	16,149		—		16,149		—
Assets of SERP	4,014		4,014		—		—
Liabilities:
Deferred compensation – SERP obligations	4,019		4,019		—		—



	As of December 31, 2014
	Fair Value			Fair Value Measurement Classification
Description	Measurement			Level 1			Level 2		Level 3
Assets:
Commodity derivative assets – current	$	128,981		$	—		$	128,981	$	—
Commodity derivative assets – noncurrent	35,897			—			35,897		—
Assets of SERP	4,123			4,123			—		—
Liabilities:
Deferred compensation – SERP obligations	(4,178		)	(4,178		)	—		—