FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the fair value hierarchy table for the Company’s net assets and liabilities that are required to be measured at fair value on a recurring basis (in thousands):


			Fair Value Measurements
			at the End of the Reporting Period
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
As of December 31, 2019:
Assets:
Oil, natural gas and natural gas liquids derivatives	$	6,231	$	—	$	6,231	$	—

Liabilities:
Oil, natural gas and natural gas liquids derivatives	$	—	$	—	$	—	$	—

As of December 31, 2018:
Assets:
Oil, natural gas and natural gas liquids derivatives	$	26,613	$	—	$	26,613	$	—
Equity securities		47,082		47,082		—		—
	$	73,695	$	47,082	$	26,613	$	—

Liabilities:
Oil, natural gas and natural gas liquids derivatives	$	3,827	$	—	$	3,827	$	—

Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on Nonrecurring Basis

The following table presents the fair value hierarchy table for the Company’s net assets and liabilities that are required to be measured at fair value on a nonrecurring basis (in thousands):


			Fair Value Measurements
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs		Total
	Fair Value		(Level 1)		(Level 2)		(Level 3)		Losses

Year Ending December 31, 2019:
Long–lived assets held and used	$	2,327	$	—	$	—	$	2,327	$	8,830

Predecessor:
Year Ending December 31, 2017:
Long–lived assets held and used	$	48,694	$	—	$	—	$	48,694	$	66,931