Disclosures about Fair Value (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value

The following table summarizes the fair value of the Company’s derivative assets and liabilities according to their fair value hierarchy as of the reporting dates indicated (in thousands):

	March 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Commodity derivative instruments(1)	$	—	$	624,766	$	—	$	624,766
Total assets	$	—	$	624,766	$	—	$	624,766
Liabilities:
Commodity derivative instruments(1)	$	—	$	(210,087)	$	—	$	(210,087)
Total liabilities	$	—	$	(210,087)	$	—	$	(210,087)
Net asset	$	—	$	414,679	$	—	$	414,679

	December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets:
Commodity derivative instruments(1)	$	—	$	127,632	$	—	$	127,632
Total assets	$	—	$	127,632	$	—	$	127,632
Liabilities:
Commodity derivative instruments(1)	$	—	$	(158,522)	$	—	$	(158,522)
Total liabilities	$	—	$	(158,522)	$	—	$	(158,522)
Net liability	$	—	$	(30,890)	$	—	$	(30,890)

(1) Includes deferred premiums to be settled upon the expiration of the contract.

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 Company’s condensed consolidated balance sheets (in thousands):

	March 31, 2020		December 31, 2019
	Carrying Amount	Fair Value	Carrying Amount	Fair Value
Long-term debt:
6.250% senior unsecured notes due 2024	—	—	400,000	417,028
5.375% senior unsecured notes due 2025	650,000	504,400	650,000	669,552
5.250% senior unsecured notes due 2025	450,000	347,198	450,000	464,697
5.875% senior unsecured notes due 2026	500,000	372,810	—	—
5.625% senior unsecured notes due 2027	700,000	495,502	700,000	742,840
4.125% senior unsecured notes due 2028	400,000	272,532	—	—
Revolving Credit Agreement	300,000	300,000	—	—