DERIVATIVE FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31, 2025 and December 31, 2024:

	March 31, 2025
	Level 1		Level 2		Netting (c)		Total
	(Thousands of dollars)
Assets:
United States treasury notes (b)	$	8,280	$	—	$	—	$	8,280
Corporate bonds (b)	—		14,997		—		14,997
Total assets	$	8,280	$	14,997	$	—	$	23,277

(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 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, 2024
	Level 1		Level 2		Netting (c)		Total
	(Thousands of dollars)
Assets:
Derivative instruments - swaps (a)	$	—	$	25	$	(25)	$	—
United States treasury notes (b)	8,721		—		—		8,721
Corporate bonds (b)	—		13,171		—		13,171
Total assets	$	8,721	$	13,196	$	(25)	$	21,892
Liabilities:
Derivative instruments - swaps (a)	$	—	$	3,238	$	(25)	$	3,213

(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 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.