Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

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

The following table presents Lonestar's assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2020 (Successor) and 2019 (Predecessor):


	Fair Value Measurements Using
In thousands	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
December 31, 2020 (Successor)
Assets:
Commodity derivatives	$	—	$	2,098	$	—	$	2,098
Liabilities:
Commodity derivatives	—		(8,773)		—		(8,773)
Total	$	—	$	(6,675)	$	—	$	(6,675)

December 31, 2019 (Predecessor)
Assets:
Commodity derivatives	$	—	$	6,849	$	—	$	6,849
Liabilities:
Commodity derivatives	—		(10,462)		—		(10,462)
Warrants	—		—		(364)		(364)
Stock-based compensation	(1,792)		—		(573)		(2,365)
Total	$	(1,792)	$	(3,613)	$	(937)	$	(6,342)

Summary of Changes in Fair Value for the Level 3 Liabilities

The table below sets forth a summary of changes in the fair value of the Company’s Level 3 liabilities for the year ended December 31, 2020.


	Successor		Predecessor
In thousands	Month Ended December 31, 2020		Eleven Months Ended November 30, 2020		Year Ended December 31, 2019
Fair value of Level 3 instruments, beginning of period	$	—	$	(937)	$	(1,691)
Unrealized gains	—		—		754
Extinguishment of Level 3 instruments on Effective Date	—		937		—
Fair value of Level 3 instruments, end of period	$	—	$	—	$	(937)