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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Summary of Fair Value of Financial Instruments at Carrying and Fair Value The carrying amount of borrowings outstanding under the Credit Facility approximates fair value as the borrowings bear interest at variable rates and are reflective of market rates. The following table presents the principal amounts of the Senior Notes with the fair values measured using quoted secondary market trading prices which are designated as Level 2 within the valuation hierarchy.
September 30, 2023December 31, 2022
Principal AmountFair ValuePrincipal AmountFair Value
(In thousands)
8.25% Senior Notes
$— $— $187,238 $186,719 
6.375% Senior Notes
320,783 314,634 320,783 301,732 
8.0% Senior Notes
650,000 650,800 650,000 616,935 
7.5% Senior Notes
600,000 581,754 600,000 550,812 
Total$1,570,783 $1,547,188 $1,758,021 $1,656,198 
Schedule of Fair Value of Assets Measured on Recurring Basis
The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022:
September 30, 2023
Level 1Level 2Level 3
(In thousands)
Derivative Assets
Commodity derivative instruments
$— $1,258 $— 
Contingent consideration arrangements— 21,680 — 
Total net assets
$— $22,938 $— 
Derivative Liabilities
Commodity derivative instruments
$— ($59,576)$— 
Contingent consideration arrangements— (46,420)— 
Total net liabilities
$— ($105,996)$— 
   
December 31, 2022
Level 1Level 2Level 3
(In thousands)
Commodity derivative assets$— $21,786 $— 
Commodity derivative liabilities$— ($29,612)$— 
Schedule of Fair Value of Liabilities Measured on Recurring Basis
The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022:
September 30, 2023
Level 1Level 2Level 3
(In thousands)
Derivative Assets
Commodity derivative instruments
$— $1,258 $— 
Contingent consideration arrangements— 21,680 — 
Total net assets
$— $22,938 $— 
Derivative Liabilities
Commodity derivative instruments
$— ($59,576)$— 
Contingent consideration arrangements— (46,420)— 
Total net liabilities
$— ($105,996)$— 
   
December 31, 2022
Level 1Level 2Level 3
(In thousands)
Commodity derivative assets$— $21,786 $— 
Commodity derivative liabilities$— ($29,612)$—