Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

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

The following tables present the fair value hierarchy for assets and liabilities measured at fair value, on a recurring basis (in thousands):

		Fair Value Measurements at March 31, 2023 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 March 31, 2023
Trading securities held in the deferred   compensation plans		$	66,135	$	—		$	—	$	66,135
Commodity price derivatives	–swaps		—		104,392			—		104,392
	–collars		—		116,883			—		116,883
	–three-way collars		—		28,338			—		28,338
	–basis swaps		—		(50,272	)		—		(50,272	)
Divestiture contingent consideration			—		9,160			—		9,160

		Fair Value Measurements at December 31, 2022 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, 2022
Trading securities held in the deferred    compensation plans		$	57,717	$	—		$	—	$	57,717
Commodity price derivatives	–swaps		—		(109,844	)		—		(109,844	)
	–collars		—		(16,837	)		—		(16,837	)
	–three-way collars		—		(11,917	)		—		(11,917	)
	–basis swaps		—		521			—		521
Divesture contingent consideration			—		13,080			—		13,080

Carrying Amounts and Fair Values of Financial Instruments

The following presents the carrying amounts and the fair values of our financial instruments as of March 31, 2023 and December 31, 2022 (in thousands):

	March 31, 2023						December 31, 2022
	Carrying Value			Fair Value			Carrying Value			Fair Value
Assets:
Commodity swaps, collars and basis swaps	$	222,221		$	222,221		$	28,835		$	28,835
Divestiture contingent consideration		9,160			9,160			13,080			13,080
Marketable securities (a)		66,135			66,135			57,717			57,717
(Liabilities):
Commodity swaps, collars and basis swaps		(22,880	)		(22,880	)		(166,912	)		(166,912	)
Bank credit facility (b)		—			—			(19,000	)		(19,000	)
4.875% senior notes due 2025 (b)		(750,000	)		(741,600	)		(750,000	)		(714,870	)
8.25% senior notes due 2029 (b)		(600,000	)		(632,490	)		(600,000	)		(618,312	)
4.75% senior notes due 2030 (b)		(500,000	)		(455,945	)		(500,000	)		(442,350	)
Deferred compensation plan (c)		(203,815	)		(203,815	)		(189,241	)		(189,241	)

(a)	Marketable securities, which are held in our deferred compensation plans, are actively traded on major exchanges.
(b)	The book value of our bank debt approximates fair value because of its floating rate structure. The fair value of our senior 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 to the closing price on the balance sheet date which is a Level 1 input.