FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2020

Financial instruments measured at fair value on recurring basis

The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2020 and December 31, 2019:


	Fair Value Measurements at March 31, 2020 Using
(In thousands)	Quoted Prices In Active Markets for Identical Assets (Liabilities) (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Commodity Derivatives – Current Asset (crude oil price swaps)	$	—	$	245,552	$	—
Commodity Derivatives – Noncurrent Asset (crude oil price and crude oil price swaptions)	—		94,329		—


Interest Rate Derivatives – Current Liabilities	—		(130)		—
Interest Rate Derivatives – Noncurrent Liabilities	—		(547)		—


Total	$	—	$	339,204	$	—


	Fair Value Measurements at December 31, 2019 Using
(In thousands)	Quoted Prices In Active Markets for Identical Assets (Liabilities) (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Commodity Derivatives – Current Asset (crude oil price swaps)	$	—	$	5,628	$	—
Commodity Derivatives – Current Liabilities (crude oil price swaps)	—		(11,298)		—
Commodity Derivatives – Noncurrent Asset (crude oil price swaps and crude oil price swaptions)	—		8,554		—
Commodity Derivatives – Noncurrent Liabilities (crude oil price swaps and crude oil swaptions)	—		(8,079)		—



Total	$	—	$	(5,195)	$	—