Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value

We use a market approach for our recurring fair value measurements and endeavor to use the best information available. Accordingly, valuation techniques that maximize the use of observable impacts are favored. The following tables present the fair value hierarchy table for assets and liabilities measured at fair value, on a recurring basis (in thousands):

		Fair Value Measurements at December 31, 2021 Using:
		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Carrying Value as of December 31, 2021
Trading securities held in the deferred    compensation plans		$	69,606	$	—		$	—		$	69,606
Derivatives	–swaps		—		(127,934	)		—			(127,934	)
	–calls		—		(61	)		—			(61	)
	–collars		—		(4,201	)		(1,272	)		(5,473	)
	–three-way collars		—		(24,932	)		—			(24,932	)
	–basis swaps		—		16,151			—			16,151
	–swaptions		—		—			(11,149	)		(11,149	)
Derivatives	–freight swaps		—		114			—			114
Divestiture contingent consideration			—		26,640			—			26,640

		Fair Value Measurements at December 31, 2020 Using:
		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Carrying Value as of December 31, 2020
Trading securities held in the deferred    compensation plans		$	63,942	$	—		$	—		$	63,942
Derivatives	–swaps		—		6,642			—			6,642
	–calls		—		—			(546	)		(546	)
	–collars		—		7,016			(3,487	)		3,529
	–three-way collars		—		(17,818	)		—			(17,818	)
	–basis swaps		—		4,491			—			4,491
	–swaptions		—		—			(9,803	)		(9,803	)
Derivatives	–freight swaps		—		1,104			—			1,104
Divestiture contingent consideration			—		15,960			—			15,960

Reconciliation of the Beginning and Ending Balances for Derivative Instruments Classified as Level 3 in the Fair Value Hierarchy

The following is a reconciliation of the beginning and ending balances for derivative instruments classified as Level 3 in the fair value hierarchy (in thousands):

	Year Ended December 31, 2021
Balance at December 31, 2020	$	(13,836	)
Additions		(12,420	)
Settlements		5,176
Transfers out of Level 3		8,660
Balance at December 31, 2021	$	(12,420	)

Value of Assets Measured at Fair Value on Nonrecurring Basis

The following table presents the value of these assets measured at fair value on a nonrecurring basis at the time impairment was recorded (in thousands):

	Year Ended December 31,
	2021				2020				2019
	Fair Value		Impairment		Fair Value		Impairment		Fair Value		Impairment
Natural gas and oil properties	$	—	$	—	$	290,500	$	77,000	$	370,500	$	1,093,531

Carrying Amounts and Fair Values of Financial Instruments

The following table presents the carrying amounts and the fair values of our financial instruments as of December 31, 2021 and 2020 (in thousands):

	December 31, 2021						December 31, 2020
	Carrying Value			Fair Value			Carrying Value			Fair Value
Assets:
Commodity swaps, collars, calls and basis swaps	$	17,699		$	17,699		$	24,052		$	24,052
Divestiture contingent consideration		26,640			26,640			15,960			15,960
Marketable securities (a)		69,606			69,606			63,942			63,942
(Liabilities):
Commodity swaps, collars, calls and basis swaps		(170,983	)		(170,983	)		(36,453	)		(36,453	)
Bank credit facility (b)		—			—			(702,000	)		(702,000	)
5.75% senior notes due 2021 (b)		—			—			(25,496	)		(25,474	)
5.00% senior notes due 2022 (b)		(169,589	)		(171,488	)		(169,589	)		(170,128	)
5.875% senior notes due 2022 (b)		(48,528	)		(48,955	)		(48,528	)		(48,471	)
Other senior notes due 2022 (b)		—			—			(490	)		(490	)
5.00% senior notes due 2023 (b)		(532,335	)		(543,471	)		(532,335	)		(521,699	)
4.875% senior notes due 2025 (b)		(750,000	)		(776,153	)		(750,000	)		(707,918	)
9.25% senior notes due 2026 (b)		(850,000	)		(916,929	)		(850,000	)		(888,208	)
8.25% senior notes due 2029 (b)		(600,000	)		(669,648	)		—			—
5.75% senior subordinated notes due 2021 (b)		—			—			(19,896	)		(19,589	)
5.00% senior subordinated notes due 2022 (b)		—			—			(9,730	)		(9,247	)
5.00% senior subordinated notes due 2023 (b)		—			—			(7,712	)		(6,604	)
Deferred compensation plan (c)		(165,395	)		(165,395	)		(96,563	)		(96,563	)

(a)	Marketable securities, which are held in our deferred compensation plans, are actively traded on major exchanges and is updated based on end of period closing prices which is a Level 1 input.
(b)	The book value of our bank debt approximates fair value because of its floating rate structure. The fair value of our senior notes and our senior subordinated notes is based on end of period market quotes which are Level 2 inputs.
(c)	The fair value of our deferred compensation plan is updated at the closing price on the balance sheet date which is a Level 1 input.