Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Recurring Fair Value Measurements

The following tables set forth our recurring fair value measurements:

	March 31, 2021
	Level 2		Level 3		Effect of Netting		Net Amounts Presented
Financial assets (liabilities):
Commodity derivatives:
Assets	$	1,899	$	—	$	(1,899)	$	—
Liabilities	(27,132)		—		1,899		(25,233)
Total commodity derivatives	$	(25,233)	$	—	$	—	$	(25,233)

	December 31, 2020
	Level 2		Level 3		Effect of Netting		Net Amounts Presented
Financial assets (liabilities):
Commodity derivatives:
Assets	$	3,436	$	—	$	(3,436)	$	—
Liabilities	(9,142)		—		3,436		(5,706)
Total commodity derivatives	$	(5,706)	—		—		(5,706)

Reconciliations Of Level 3 Fair Value Measurements

The following table is a reconciliation of our Level 3 fair value measurements:

	Net Derivatives
	Successor		Predecessor
	Three Months Ended March 31, 2021		Three Months Ended March 31, 2020
	(In thousands)
Beginning of period	$	—	$	1,204
Total gains or losses (realized and unrealized):
Included in earnings (1)	—		563
Settlements	—		(819)
End of period	$	—	$	948
Total losses for the period included in earnings attributable to the change in unrealized gain (loss) relating to assets still held at end of period	$	—	$	(256)

_______________________

1.Commodity derivatives are reported in the Unaudited Condensed Consolidated Statements of Operations in gain (loss) on derivatives.