Fair Value Measurements (Tables)

The following tables set forth our recurring fair value measurements by level:


	Balances as of September 30, 2022
	Level 1		Level 2		Level 3		Total
	(In thousands)
Financial liabilities:
Commodity derivative liabilities	$	—	$	49,814	$	—	$	49,814
	$	—	$	49,814	$	—	$	49,814


	Balances as of December 31, 2021
	Level 1		Level 2		Level 3		Total
	(In thousands)
Financial liabilities:
Commodity derivative liabilities	$	—	$	58,731	$	—	$	58,731
Warrant liability	—		—		19,822		19,822
	$	—	$	58,731	$	19,822	$	78,553

The following table summarizes the activity of our recurring Level 3 fair value measurements during the periods presented:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Beginning of period	$	—	$	4,459	$	19,822	$	885
Loss on change in warrant liability	—		9,054		29,323		12,628
Reclassification of warrant liability to capital in excess of par value	—		—		(49,145)		—
End of period	$	—	$	13,513	$	—	$	13,513