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Fair Value Measurements and Disclosures (Tables)
3 Months Ended
Mar. 31, 2019
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 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, 2019
 
December 31, 2018
 
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)
Total assets
$
21,177

 
$
16,378

 
$
37,555

 
$
118,521

 
$
59,693

 
$
178,214

Total liabilities
(42,326
)
 
(3,388
)
 
(45,714
)
 
(3,364
)
 
(1,364
)
 
(4,728
)
Net asset (liability)
$
(21,149
)
 
$
12,990

 
$
(8,159
)
 
$
115,157

 
$
58,329

 
$
173,486

 
 
 
 
 
 
 
 
 
 
 
 
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,
 
 
2019
 
2018
 
 
(in thousands)
Fair value of Level 3 instruments, net asset (liability) beginning of period
 
$
58,329

 
$
(9,687
)
Changes in fair value included in condensed consolidated statement of operations line item:
 
 
 
 
Commodity price risk management loss, net
 
(43,520
)
 
(2,152
)
Settlements included in condensed consolidated statement of operations line items:
 
 
 
 
Commodity price risk management loss, net
 
(1,819
)
 
3,006

Fair value of Level 3 instruments, net liability end of period
 
$
12,990

 
$
(8,833
)
 
 
 
 
 
Net change in fair value of Level 3 unsettled derivatives included in condensed consolidated statement of operations line item:
 
 
 
 
Commodity price risk management loss, net
 
$
(38,680
)
 
$
1,205