Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Information about impaired assets is as follows:



	Level 1		Level 2		Level 3		Net Book Value ⁽¹⁾		Impairment Loss
	(in thousands)
As of September 30, 2018
Oil and gas properties	$	—	$	—	$	—	$	—	$	—
As of December 31, 2017
Uinta Basin oil and gas properties⁽²⁾	—		—		106,587		144,532		37,945
DJ Basin unproved properties ⁽³⁾	—		—		18,832		20,887		2,055
Piceance Basin unproved properties ⁽⁴⁾	—		—		—		9,098		9,098


(1)	Amount represents net book value at the date of assessment.


(2)	The Company recognized a non-cash impairment charge of $37.9 million associated with the Company's Uinta Oil Program proved properties during the year ended December 31, 2017. The properties were sold on December 29, 2017.


(3)	As a result of having no future plans to develop certain acreage and/or estimated market values below carrying value, the Company recognized non-cash impairment charges of $2.1 million associated with certain non-core unproved properties in the DJ Basin during the year ended December 31, 2017.


(4)	As a result of having no future plans to develop certain acreage and/or estimated market values below carrying value, the Company recognized non-cash impairment charges of $9.1 million associated with certain unproved properties in the Cottonwood Gulch area of the Piceance Basin during the year ended December 31, 2017.

Fair Value, Balance Sheet Grouping

The following tables set forth by level within the fair value hierarchy the Company's non-financial assets and liabilities that were measured at fair value on a recurring basis in the Unaudited Consolidated Balance Sheets.



	Level 1		Level 2		Level 3		Total
	(in thousands)
As of September 30, 2018
Financial Assets
Cash equivalents	$	63,189	$	—	$	—	$	63,189
Deferred compensation plan	1,516		—		—		1,516
Commodity derivatives	—		1,222		—		1,222
Financial Liabilities
Commodity derivatives	—		119,242		—		119,242
As of December 31, 2017
Financial Assets
Cash equivalents	271,027		—		—		271,027
Deferred compensation plan	1,749		—		—		1,749
Commodity derivatives	—		656		—		656
Financial Liabilities
Commodity derivatives	—		25,714		—		25,714