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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table is a listing of 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 September 30, 2020:
Level 1Level 2Level 3
(in thousands)
Assets:
Derivatives (1)
$— $159,555 $— 
Liabilities:
Derivatives (1)
$— $110,037 $— 
__________________________________________
(1)    This represents a financial asset or liability that is measured at fair value on a recurring basis.
The following table is a listing of 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 December 31, 2019:
Level 1Level 2Level 3
(in thousands)
Assets:
Derivatives (1)
$— $75,808 $— 
Liabilities:
Derivatives (1)
$— $54,290 $— 
____________________________________________
(1)    This represents a financial asset or liability that is measured at fair value on a recurring basis.
Impairment of oil and gas properties [Table Text Block]
The following table presents impairment of oil and gas properties expense and abandonment and impairment of unproved properties expense recorded during the periods presented:
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
2020201920202019
(in millions)
Impairment of proved oil and gas properties and related support equipment$— $— $956.7 $— 
Abandonment and impairment of unproved properties (1)
8.8 6.3 50.6 25.1 
Impairment$8.8 $6.3 $1,007.3 $25.1 
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(1)    These impairments related to actual and anticipated lease expirations, as well as actual and anticipated losses on acreage due to title defects, changes in development plans, and other inherent acreage risks. The balances in the unproved oil and gas properties line item on the accompanying balance sheets as of September 30, 2020, and December 31, 2019, are recorded at carrying value.
Long Term Debt Fair Value [Table Text Block]
Long-Term Debt
The following table reflects the fair value of the Company’s Senior Note obligations 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 September 30, 2020, or December 31, 2019, 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 September 30, 2020As of December 31, 2019
Principal AmountFair ValuePrincipal AmountFair Value
(in thousands)
6.125% Senior Unsecured Notes due 2022
$231,881 $182,027 $476,796 $481,564 
5.0% Senior Unsecured Notes due 2024
$315,633 $173,655 $500,000 $479,815 
5.625% Senior Unsecured Notes due 2025
$349,118 $162,228 $500,000 $475,835 
6.75% Senior Unsecured Notes due 2026
$419,235 $192,659 $500,000 $494,860 
6.625% Senior Unsecured Notes due 2027
$416,791 $185,964 $500,000 $493,750 
10.0% Senior Secured Notes due 2025
$446,675 $426,820 $— $— 
1.50% Senior Convertible Notes due 2021 (1)
$— $— $172,500 $164,430 
1.50% Senior Secured Convertible Notes due 2021 (1)
$65,485 $61,195 $— $— 
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(1)    The Company’s 2021 Senior Convertible Notes became secured in the second quarter of 2020 upon the closing of the Exchange Offers. Please refer to Note 5 - Long-Term Debt for additional information.