Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

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, 2019
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Money market funds	$	144	$	—	$	—	$	144
Commodity derivative instruments (see Note 8)	—		4,648		—		4,648
Total assets	$	144	$	4,648	$	—	$	4,792
Liabilities:
Commodity derivative instruments (see Note 8)	$	—	$	28,934	$	—	$	28,934
Total liabilities	$	—	$	28,934	$	—	$	28,934



	Fair value at December 31, 2018
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Money market funds	$	143	$	—	$	—	$	143
Commodity derivative instruments (see Note 8)	—		106,875		—		106,875
Total assets	$	143	$	106,875	$	—	$	107,018
Liabilities:
Commodity derivative instruments (see Note 8)	$	—	$	104	$	—	$	104
Total liabilities	$	—	$	104	$	—	$	104