DERIVATIVE FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]

Fair Value Measurements, Recurring and Nonrecurring

The following tables summarize, by level within the fair value hierarchy, our derivative and other assets and liabilities that were accounted for at fair value on a recurring basis at September 30, 2024 and December 31, 2023:

	September 30, 2024
	Level 1		Level 2		Netting (c)		Total
	(Thousands of dollars)
Assets:
Derivative instruments - swaps (a)	$	—	$	—	$	—	$	—
Derivative instruments - options (a)	—		—		—		—
United States treasury notes (b)	6,607		—		—		6,607
Corporate bonds (b)	—		9,851		—		9,851
Total assets	$	6,607	$	9,851	$	—	$	16,458
Liabilities:
Derivative instruments - swaps (a)	$	—	$	4,261	$	—	$	4,261

(a) The fair value is included in other current assets and other current liabilities in our consolidated balance sheets.

(b) The fair value is included in other current and noncurrent assets and other current and noncurrent liabilities in our consolidated balance sheets.

(c) Our over-the-counter natural gas fixed-price swaps are presented on a net basis when the right of offset exists.

	December 31, 2023
	Level 1		Level 2		Total
	(Thousands of dollars)
Assets:
United States treasury notes (b)	$	6,496	$	—	$	6,496
Corporate bonds (b)	—		11,080		11,080
Total assets	$	6,496	$	11,080	$	17,576
Liabilities:
Derivative instruments - swaps (a)	$	—	$	13,920	$	13,920

(a) The fair value is included in other current assets and other current liabilities in our consolidated balance sheets.

(b) The fair value is included in other current and noncurrent assets and other current and noncurrent liabilities in our consolidated balance sheets.