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Assets and Liabilities Measured at Fair Value (Tables)
12 Months Ended
Dec. 31, 2018
Assets and Liabilities Measured at Fair Value [Abstract]  
Carrying Value of Assets and Liabilities Recorded at Fair Value on Recurring Basis



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



December 31, 2018

 

December 31, 2017

(Thousands of dollars)

Level 1

 

Level 2

 

Level 3

 

Total

 

Level 1

 

Level 2

 

Level 3

 

Total

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Commodity derivative contracts

$

– 

 

3,837 

 

– 

 

3,837 

 

– 

 

– 

 

– 

 

– 



$

– 

 

3,837 

 

– 

 

3,837 

 

– 

 

– 

 

– 

 

– 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Nonqualified employee
        savings plans

$

13,845 

 

– 

 

– 

 

13,845 

 

16,158 

 

– 

 

– 

 

16,158 

     Contingent consideration

 

– 

 

– 

 

47,730 

 

47,730 

 

– 

 

– 

 

– 

 

– 

     Commodity derivative contracts

 

– 

 

– 

 

– 

 

– 

 

– 

 

39,093 

 

– 

 

39,093 



$

13,845 

 

– 

 

47,730 

 

61,575 

 

16,158 

 

39,093 

 

– 

 

55,251 



Carrying Amounts and Estimated Fair Values of Financial Instruments



 

 

 

 

 

 

 

 



December 31,



2018

 

2017

(Thousands of dollars)

Carrying
Amount

 

Fair
Value

 

Carrying
Amount

 

Fair
Value

Financial assets (liabilities):

 

 

 

 

 

 

 

 

        Current and long-term debt

$

(3,237,717)

 

(3,003,388)

 

(2,916,422)

 

(2,993,003)



Nonrecurring Fair Value Measurements







 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



 

Year Ended December 31,



 

 

 

 

 

 

 

 

 

 

Total



 

 

 

 

 

 

 

 

Net Book

 

Pretax



 

 

 

 

 

 

 

 

Value

 

(Noncash)



 

Fair Value

 

Prior to

 

Impairment

(Thousands of dollars)

 

 

Level 1

 

Level 2

 

Level 3

 

Impairment

 

Expense

2018

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

   Impaired proved properties

 

 

 

 

 

 

 

 

 

 

 

       United States Midland

 

$

– 

 

– 

 

37,690 

 

57,690 

 

20,000 

2016

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

   Impaired proved properties

 

 

 

 

 

 

 

 

 

 

 

       Western Canada

 

$

– 

 

– 

 

71,967 

 

167,055 

 

95,088