Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Recurring Fair Value Measurements

The following tables set forth our recurring fair value measurements:

	Successor
	September 30, 2020
	Level 2		Level 3		Effect of Netting		Net Amounts Presented
	(In thousands)
Financial assets (liabilities):
Commodity derivatives:
Assets	$	3,929	$	—	$	(1,562)	$	2,367
Liabilities	(4,425)		—		1,562		(2,863)
Total commodity derivatives	$	(496)	$	—	$	—	$	(496)

	Predecessor
	December 31, 2019
	Level 2		Level 3		Effect of Netting		Net Amounts Presented
	(In thousands)
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
	Successor		Predecessor
	One Month Ended		Two Months Ended		Three Months Ended
	September 30, 2020		August 31, 2020		September 30, 2019
	(In thousands)
Beginning of period	$	—	$	843	$	3,945
Total gains or losses (realized and unrealized):
Included in earnings (1)	—		(405)		2,393
Settlements	—		(437)		(3,627)
End of period	$	—	$	—	$	2,711
Total losses for the period included in earnings attributable to the change in unrealized gain (loss) relating to assets still held at end of period	$	—	$	(843)	$	(1,234)

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

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

	Net Derivatives
	Successor		Predecessor
	One Month Ended		Eight Months Ended		Nine Months Ended
	September 30, 2020		August 31, 2020		September 30, 2019
	(In thousands)
Beginning of period	$	—	$	1,204	$	10,630
Total gains or losses (realized and unrealized):
Included in earnings (1)	—		872		(980)
Settlements	—		(2,075)		(6,939)
End of period	—		—		$	2,711
Total losses for the period included in earnings attributable to the change in unrealized gain (loss) relating to assets still held at end of period	$	—	$	(1,204)	$	(7,919)

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