Fair Value of Financial Instruments Fair Value Measurements and Disclosures (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

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 as of the dates indicated:


		December 31, 2021						December 31, 2020
	Consolidated Balance Sheet Line Item	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)
Derivative assets
Current	Fair value of derivatives	$	—	$	17,909	$	17,909	$	36,580	$	12,289	$	48,869
Non-current	Fair value of derivatives	605		14,572		15,177		315		9,250		9,565
Total		$	605	$	32,481	$	33,086	$	36,895	$	21,539	$	58,434

Derivative liabilities
Current	Fair value of derivatives	$	(230,695)	$	(74,175)	$	(304,870)	$	(76,420)	$	(21,732)	$	(98,152)
Non-current	Fair value of derivatives	(74,715)		(20,846)		(95,561)		(28,125)		(8,234)		(36,359)
Total		$	(305,410)	$	(95,021)	$	(400,431)	$	(104,545)	$	(29,966)	$	(134,511)

Fair Value Assets and Liabilities Unobservable Input Reconciliation [Table Text Block]

The following table presents a reconciliation of our Level 3 assets and liabilities measured at fair value for the periods presented:


	Year Ended December 31,
	2021		2020		2019
	(in thousands)
Fair value of Level 3 instruments, net asset (liability) beginning of period	$	(8,427)	$	8,414	$	58,329
Changes in fair value included in consolidated statements of operations line item:
Commodity price risk management gain (loss), net	(206,109)		37,821		(41,749)
Settlements included in consolidated statements of operations line items:
Commodity price risk management gain (loss), net	151,996		(54,662)		(8,166)
Fair value of Level 3 instruments, net asset (liability) end of period	$	(62,540)	$	(8,427)	$	8,414

Net change in fair value of Level 3 unsettled derivatives included in consolidated statements of operations line item:
Commodity price risk management gain (loss), net	$	(35,108)	$	—	$	(22,694)
Total	$	(35,108)	$	—	$	(22,694)

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

The portion of our long-term debt related to our revolving credit facility approximates fair value, as the applicable interest rates are variable and reflective of market rates. We have not elected to account for the portion of our debt related to our senior notes under the fair value option; however, we have determined an estimate of the fair values based on measurements of trading activity and broker or dealer quotes, which are published market prices, and therefore are Level 2 inputs. The table below presents these estimates of the fair value of the portion of our long-term debt related to our senior notes and convertible notes as of the dates indicated:


			December 31,
			2021				2020
	Nominal Interest		Estimated Fair Value		Percent of Par		Estimated Fair Value		Percent of Par
			(in millions)				(in millions)
2021 Convertible Notes (1)	1.125	%	$	—	—	%	$	196.2	98.1	%
2024 Senior Notes	6.125	%	202.8		101.4	%	410.8		102.7	%
2025 Senior Notes (2)	6.25	%	—		—	%	102.8		100.5	%
2026 Senior Notes	5.75	%	775.5		103.4	%	775.5		103.4	%