Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Recurring Fair Value Measurements

The following tables set forth our recurring fair value measurements:

	June 30, 2021
	Level 2		Level 3		Effect of Netting		Net Amounts Presented
	(In thousands)
Financial assets (liabilities):
Commodity derivatives:
Assets	$	—	$	—	$	—	$	—
Liabilities	(61,230)		—		—		(61,230)
Total commodity derivatives	$	(61,230)	$	—	$	—	$	(61,230)

	December 31, 2020
	Level 2		Level 3		Effect of Netting		Net Amounts Presented
	(In thousands)
Financial assets (liabilities):
Commodity derivatives:
Assets	$	3,436	$	—	$	(3,436)	$	—
Liabilities	(9,142)		—		3,436		(5,706)
Total commodity derivatives	$	(5,706)	—		—		(5,706)

Reconciliations Of Level 3 Fair Value Measurements

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

	Net Derivatives
	Successor		Predecessor		Successor		Predecessor
	Three Months Ended June 30, 2021		Three Months Ended June 30, 2020		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
	(In thousands)
Beginning of period	$	—	$	948	$	—	$	1,204
Total gains or losses (realized and unrealized):
Included in earnings (1)	—		714		—		1,277
Settlements	—		(819)		—		(1,638)
End of period	$	—	$	843	$	—	$	843
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	$	—	$	(105)	$	—	$	(361)

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1.Commodity derivative activity is reported in the unaudited condensed consolidated statements of operations in gain (loss) on derivatives.