FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

.  A rollforward of our Level 3 liability measured at fair value on a recurring basis follows.

	Year ended December 31, 2016
	(In thousands)
Level 3 liability, beginning of period	$	—
Addition	507,427
Change in fair value	55,854
Level 3 liability, end of period	$	563,281

Summary of the estimated fair value of debt instruments

A summary of the estimated fair value of our debt financial instruments follows.

	December 31, 2016				December 31, 2015
	Carrying value		Estimated fair value (Level 2)		Carrying value		Estimated fair value (Level 2)
	(In thousands)
Summit Holdings Revolving Credit Facility	$	648,000	$	648,000	$	344,000	$	344,000
Summit Holdings 5.5% Senior Notes ($300.0 million principal)	296,484		294,500		295,861		224,000
Summit Holdings 7.5% Senior Notes ($300.0 million principal)	295,817		316,000		294,909		257,000
SMP Holdings revolving credit facility (1)	—		—		115,000		115,000
SMP Holdings term loan (1)	—		—		217,500		217,500