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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
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: 
 
Fair value at September 30, 2016
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(In thousands)
Assets:
 
 
 
 
 
 
 
Money market funds
$
54

 
$

 
$

 
$
54

Commodity derivative instruments (see Note 5)

 
9,336

 

 
9,336

Total assets
$
54

 
$
9,336

 
$

 
$
9,390

Liabilities:
 
 
 
 
 
 
 
Commodity derivative instruments (see Note 5)
$

 
$
25,063

 
$

 
$
25,063

Total liabilities
$

 
$
25,063

 
$

 
$
25,063

 
 
 
 
 
 
 
 
 
Fair value at 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