Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

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, 2018
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Money market funds	$	142	$	—	$	—	$	142
Total assets	$	142	$	—	$	—	$	142
Liabilities:
Commodity derivative instruments (see Note 7)	$	—	$	169,356	$	—	$	169,356
Total liabilities	$	—	$	169,356	$	—	$	169,356



	Fair value at December 31, 2017
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Money market funds	$	142	$	—	$	—	$	142
Commodity derivative instruments (see Note 7)	—		353		—		353
Total assets	$	142	$	353	$	—	$	495
Liabilities:
Commodity derivative instruments (see Note 7)	$	—	$	135,567	$	—	$	135,567
Total liabilities	$	—	$	135,567	$	—	$	135,567