Fair Value Measurements and Disclosures (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Our crude oil and natural gas fixed-price swaps are included in Level 2. Our collars and propane fixed-price swaps are included in Level 3. Our basis swaps are included in Level 2 and Level 3. The following table presents, for each applicable level within the fair value hierarchy, our derivative assets and liabilities, including both current and non-current portions, measured at fair value on a recurring basis:

	March 31, 2018									December 31, 2017
	Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total
	(in thousands)
Assets:
Total assets	$	22,467		$	6,143		$	28,610		$	12,949		$	1,389		$	14,338
Total liabilities	122,133			14,976			137,109			90,569			11,076			101,645
Net liability	$	(99,666	)	$	(8,833	)	$	(108,499	)	$	(77,620	)	$	(9,687	)	$	(87,307	)

Fair Value Assets and Liabilities Unobservable Input Reconciliation

The following table presents a reconciliation of our Level 3 assets measured at fair value:

	Three Months Ended March 31,
	2018			2017
	(in thousands)
Fair value of Level 3 instruments, net liability beginning of period	$	(9,687	)	$	(9,574	)
Changes in fair value included in condensed consolidated statement of operations line item:
Commodity price risk management gain (loss), net	(2,152		)	13,360
Settlements included in condensed consolidated statement of operations line items:
Commodity price risk management gain (loss), net	3,006			(1,470		)
Fair value of Level 3 instruments, net asset (liability) end of period	$	(8,833	)	$	2,316
Net change in fair value of Level 3 unsettled derivatives included in condensed consolidated statement of operations line item:
Commodity price risk management gain (loss), net	$	1,205		$	11,427