Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Fair value hierarchy of financial assets and liabilities

The following table sets forth, by level within the fair value hierarchy, our financial assets and liabilities that were accounted for at fair value on a recurring basis as of the periods indicated:



	Fair Value Measurements Using:
In thousands	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
March 31, 2018
Assets
Oil derivative contracts – current	$	—	$	1,859		$	—	$	1,859
Total Assets	$	—	$	1,859		$	—	$	1,859

Liabilities
Oil derivative contracts – current	$	—	$	(114,512	)	$	—	$	(114,512	)
Oil derivative contracts – long-term	—		(1,876		)	—		(1,876		)
Total Liabilities	$	—	$	(116,388	)	$	—	$	(116,388	)

December 31, 2017
Liabilities
Oil derivative contracts – current	$	—	$	(99,061	)	$	—	$	(99,061	)
Total Liabilities	$	—	$	(99,061	)	$	—	$	(99,061	)

Changes in fair value of Level 3 assets and liabilities

The following table summarizes the changes in the fair value of our Level 3 assets and liabilities for the three months ended March 31, 2018 and 2017:



	Three Months Ended
	March 31,
In thousands	2018		2017
Fair value of Level 3 instruments, beginning of period	$	—	$	(526	)
Fair value gains on commodity derivatives	—		617
Payments on settlements of commodity derivatives	—		—
Fair value of Level 3 instruments, end of period	$	—	$	91

The amount of total gains for the period included in earnings attributable to the change in unrealized gains relating to assets or liabilities still held at the reporting date	$	—	$	236