Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents information about the Partnership’s assets and liabilities measured at fair value on a recurring basis: 

	Fair Value Measurements Using						Effect of Counterparty Netting		Total
	Level 1		Level 2		Level 3
	(in thousands)
As of March 31, 2020
Financial Assets
Commodity derivative instruments	$	—	$	96,294	$	—	$	(16)	$	96,278
Financial Liabilities
Commodity derivative instruments	$	—	$	16	$	—	$	(16)	$	—
As of December 31, 2019
Financial Assets
Commodity derivative instruments	$	—	$	19,741	$	—	$	(4,343)	$	15,398
Financial Liabilities
Commodity derivative instruments	$	—	$	4,520	$	—	$	(4,343)	$	177

Fair Value Measurements, Nonrecurring

The following table presents information about the non-recurring fair value measurements of the impaired properties, including the applicable risk-adjusted discount rate utilized in the assessment:

	Fair Value Measurements Using						Impairment		Annual Discount Rate
	Level 1		Level 2		Level 3
	(in thousands)
Three Months Ended March 31, 2020
Impaired oil and natural gas properties	$	—	$	—	$	2,044	$	51,031	8	%
Three Months Ended March 31, 2019
Impaired oil and natural gas properties	$	—	$	—	$	—	$	—