FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis were as follows:

	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
March 31, 2024:
Equity securities	$	22,918	$	—	$	—	$	22,918
Commodity derivative instruments	—		2,094		—		2,094
Total	$	22,918	$	2,094	$	—	$	25,012
December 31, 2023:
Equity securities	$	63,068	$	—	$	—	$	63,068
Commodity derivative instruments	—		2,723		—		2,723
Total	$	63,068	$	2,723	$	—	$	65,791

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table sets forth a summary of the changes in the estimated fair value of the Company’s Level 3 liabilities, which were measured at fair value on a recurring basis. There are no Level 3 liabilities as of March 31, 2024. The changes in the estimated fair value of the Company's Level 3 liabilities as of March 31, 2023 were as follows:

	Series A Embedded Derivative Liabilities		Series B Warrant Liabilities		Total
	(In thousands)
Balance at December 31, 2022	$	16,835	$	84,780	$	101,615
Remeasurement to fair value	(5,023)		(11,628)		(16,651)
Balance at March 31, 2023	11,812		73,152		84,964