Disclosures about Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Financial Assets and Liabilities Measured at Fair Value

The following tables set forth by level within the fair value hierarchy the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis (in thousands):



	June 30, 2017
	Level 1		Level 2			Level 3		Total
Assets:
Money market funds	$	362,724	$	—		$	—	$	362,724
Commodity derivative instruments	—		227,765			—		227,765
Total assets	$	362,724	$	227,765		$	—	$	590,489

Liabilities:
Commodity derivative instruments	$	—	$	(148,764	)	$	—	$	(148,764	)
Total liabilities	$	—	$	(148,764	)	$	—	$	(148,764	)
Net asset	$	362,724	$	79,001		$	—	$	441,725



	December 31, 2016
	Level 1		Level 2			Level 3		Total
Assets:
Money market funds	$	49,230	$	—		$	—	$	49,230
Commodity derivative instruments	—		56,124			—		56,124
Total assets	$	49,230	$	56,124		$	—	$	105,354

Liabilities:
Commodity derivative instruments	$	—	$	(56,968	)	$	—	$	(56,968	)
Total liabilities	$	—	$	(56,968	)	$	—	$	(56,968	)
Net asset (liability)	$	49,230	$	(844	)	$	—	$	48,386

Schedule of Fair Value of Financial Instrument Not Carried at Fair Value

The following table provides the fair value of financial instruments that are not recorded at fair value in the condensed consolidated balance sheets (in thousands):



	June 30, 2017				December 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Current portion of long-term debt:
7.500% senior unsecured notes due 2022	$	—	$	—	$	61,846	$	65,737
Long-term debt:
6.250% senior unsecured notes due 2024	400,000		420,312		400,000		422,548
5.375% senior unsecured notes due 2025	650,000		655,083		650,000		654,531
5.250% senior unsecured notes due 2025	450,000		450,891		—		—
Revolving Credit Agreement	—		—		—		—
Commercial paper	94,835		94,792		—		—

Schedule of Cash and Cash Equivalents

The following table provides the components of the Company's cash and cash equivalents as of the dates indicated (in thousands):



	Cash		Commercial Paper		Money Market Funds		Total
June 30, 2017	$	45,057	$	94,835	$	362,724	$	502,616
December 31, 2016	84,149		—		49,230		133,379