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FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2023
FAIR VALUE MEASUREMENTS  
Schedule of fair value of the Company's financial assets and liabilities

March 31, 2023

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets

Assets from commodity-based derivative contracts

$

$

20,537

$

$

20,537

Liabilities

Liabilities from commodity-based derivative contracts

$

$

40,846

$

$

40,846

December 31, 2022

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets

Assets from commodity-based derivative contracts

$

$

21,623

$

$

21,623

Liabilities

Liabilities from commodity-based derivative contracts

$

$

62,935

$

$

62,935

Schedule of changes in fair value of the change of control call option The following table sets forth a reconciliation of the changes in fair value of the Change of Control Call Option classified as Level 3 in the fair value hierarchy (in thousands):

Change of Control

Call Option

Balance at December 31, 2022

$

4,136

Change in fair value

(1,062)

Balance at March 31, 2023

$

3,074