Fair Value Measurements Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

The following table summarizes the Company’s assets and liabilities that are measured at fair value in the accompanying balance sheets and where they are classified within the fair value hierarchy as of June 30, 2017:



	Level 1		Level 2		Level 3
	(in thousands)
Assets:
Derivatives ⁽¹⁾	$	—	$	168,156	$	—
Liabilities:
Derivatives ⁽¹⁾	$	—	$	106,211	$	—

____________________________________________


⁽¹⁾	This represents a financial asset or liability that is measured at fair value on a recurring basis.

The following table summarizes the Company’s assets and liabilities that are measured at fair value in the accompanying balance sheets and where they were classified within the fair value hierarchy as of December 31, 2016:



	Level 1		Level 2		Level 3
	(in thousands)
Assets:
Derivatives ⁽¹⁾	$	—	$	122,096	$	—
Total property and equipment, net ⁽²⁾	$	—	$	—	$	88,205
Liabilities:
Derivatives⁽¹⁾	$	—	$	213,804	$	—

____________________________________________


⁽¹⁾	This represents a financial asset or liability that is measured at fair value on a recurring basis.


⁽²⁾	This represents a non-financial asset that is measured at fair value on a nonrecurring basis.

Long Term Debt Fair Value [Table Text Block]

The following table reflects the fair value of the Senior Notes and Senior Convertible Notes measured using Level 1 inputs based on quoted secondary market trading prices. These notes were not presented at fair value on the accompanying balance sheets as of June 30, 2017, or December 31, 2016, as they were recorded at carrying value, net of any unamortized discounts and deferred financing costs. Please refer to Note 5 - Long-Term Debt for additional discussion.



	As of June 30, 2017				As of December 31, 2016
	Principal Amount		Fair Value		Principal Amount		Fair Value
	(in thousands)
6.50% Senior Notes due 2021	$	344,611	$	338,794	$	346,955	$	354,546
6.125% Senior Notes due 2022	$	561,796	$	536,347	$	561,796	$	570,925
6.50% Senior Notes due 2023	$	394,985	$	377,211	$	394,985	$	403,134
5.0% Senior Notes due 2024	$	500,000	$	445,465	$	500,000	$	475,975
5.625% Senior Notes due 2025	$	500,000	$	449,335	$	500,000	$	485,000
6.75% Senior Notes due 2026	$	500,000	$	479,840	$	500,000	$	516,565
1.50% Senior Convertible Notes due 2021	$	172,500	$	154,612	$	172,500	$	202,189

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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