XML 55 R37.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

The following tables set forth our recurring fair value measurements:


	June 30, 2020
	Level 2		Level 3		Effect of Netting		Net Amounts Presented

Financial assets (liabilities):
Commodity derivatives:
Assets	$	—	$	843	$	(843)	$	—
Liabilities	(5,999)		—		843		(5,156)
Total commodity derivatives	$	(5,999)	$	843	$	—	$	(5,156)


	December 31, 2019
	Level 2		Level 3		Effect of Netting		Net Amounts Presented

Financial assets (liabilities):
Commodity derivatives:
Assets	$	177	$	1,204	$	(748)	$	633
Liabilities	(775)		—		748		(27)
Total commodity derivatives	$	(598)	1,204		—		606

Reconciliations Of Level 3 Fair Value Measurements

The following table is a reconciliation of our Level 3 fair value measurements:


	Net Derivatives
	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020		2019		2020		2019
	(In thousands)
Beginning of period	$	948	$	3,080	$	1,204	$	10,630
Total gains or losses (realized and unrealized):
Included in earnings ⁽¹⁾	714		2,060		1,277		(3,374)
Settlements	(819)		(1,195)		(1,638)		(3,311)
End of period	$	843	$	3,945	$	843	$	3,945
Total earnings (losses) for the period included in earnings attributable to the change in unrealized gain (loss) relating to assets still held at end of period	$	(105)	$	865	$	(361)	$	(6,685)

_______________________

1.Commodity derivatives are reported in the Unaudited Condensed Consolidated Statements of Operations in gain (loss) on derivatives.

Schedule Of Quantitative Information About Unobservable Inputs

The following table provides quantitative information about our Level 3 unobservable inputs at June 30, 2020:

Commodity ⁽¹⁾

Fair Value

Valuation Technique

Unobservable Input

Range

(In thousands)

Natural gas three-way collars

843

Discounted cash flow

Forward commodity price curve

$0.00 - $0.75

_______________________

1.The commodity contracts detailed in this category include non-exchange-traded natural gas three-way collars that are valued based on NYMEX. The forward pricing range represents the low and high price expected to be paid or received within the settlement period.