Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Hierarchy of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis:



	At fair value as of March 31, 2016
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Money market funds	$	54	$	—	$	—	$	54
Commodity derivative instruments (see Note 5)	—		99,111		—		99,111
Total assets	$	54	$	99,111	$	—	$	99,165
Liabilities:
Commodity derivative instruments (see Note 5)	$	—	$	2,576	$	—	$	2,576
Total liabilities	$	—	$	2,576	$	—	$	2,576

	At fair value as of December 31, 2015
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Money market funds	$	742	$	—	$	—	$	742
Commodity derivative instruments (see Note 5)	—		155,473		—		155,473
Total assets	$	742	$	155,473	$	—	$	156,215