Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The fair value of the Company’s derivatives is based on third-party pricing models which utilize inputs that are readily available in the public market, such as natural gas and crude oil forward curves. These values are compared to the values given by counterparties for reasonableness. Since the Company’s derivative instruments do not include optionality, and therefore, generally have no unobservable inputs, they are classified as Level 2.

	Level 1		Level 2			Level 3		Total Fair Value
As of June 30, 2018: (in thousands)
Commodity derivative instruments	$	—	$	(21,085	)	$	—	$	(21,085	)
Total	$	—	$	(21,085	)	$	—	$	(21,085	)
As of December 31, 2017: (in thousands)
Commodity derivative instruments	$	—	$	(5,068	)	$	—	$	(5,068	)
Total	$	—	$	(5,068	)	$	—	$	(5,068	)