Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

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 March 31, 2017
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Money market funds	$	141	$	—	$	—	$	141
Commodity derivative instruments (see Note 5)	—		6,841		—		6,841
Total assets	$	141	$	6,841	$	—	$	6,982
Liabilities:
Commodity derivative instruments (see Note 5)	$	—	$	14,627	$	—	$	14,627
Total liabilities	$	—	$	14,627	$	—	$	14,627



	Fair value at December 31, 2016
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Money market funds	$	141	$	—	$	—	$	141
Commodity derivative instruments (see Note 5)	—		362		—		362
Total assets	$	141	$	362	$	—	$	503
Liabilities:
Commodity derivative instruments (see Note 5)	$	—	$	72,183	$	—	$	72,183
Total liabilities	$	—	$	72,183	$	—	$	72,183