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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2021
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:
Successor
Fair value at March 31, 2021
Level 1Level 2Level 3Total
(In thousands)
Liabilities:
Commodity derivative instruments (see Note 7)
$— $253,010 $— $253,010 
Total liabilities$— $253,010 $— $253,010 

Successor
 Fair value at December 31, 2020
 Level 1Level 2Level 3Total
 (In thousands)
Assets:
Commodity derivative instruments (see Note 7)
$— $467 $— $467 
Total assets$— $467 $— $467 
Liabilities:
Commodity derivative instruments (see Note 7)
$— $94,558 $— $94,558 
Total liabilities$— $94,558 $— $94,558