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Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The financial instruments measured at fair value on a recurring basis are summarized below:
 Fair Value Measurements at March 31, 2024Fair Value Measurements at December 31, 2023
DescriptionLevel 1Level 2Level 3Level 1Level 2Level 3
Commodity Derivatives$— $(78,766)*$— $— $(55,701)**$— 
Interest Rate Swaps$— $(111)$— $— $1,099 $— 
*Includes $30,170 of commodity derivatives that have been settled but not received and $270 that have been settled but not paid at March 31, 2024.
**Includes $6,741 of commodity derivatives that have been settled but not received and $900 that have been settled but not paid at December 31, 2023.
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
The carrying amounts and fair values of financial instruments for which the fair value option was not elected are as follows:
 March 31, 2024December 31, 2023
 Carrying
Amount
Fair
Value
Carrying
Amount
Fair
Value
Cash and Cash Equivalents $1,988 $1,988 $443 $443 
Long-Term Debt (Excluding Debt Issuance Costs)$2,279,318 $2,541,378 $2,226,034 $2,376,594 
Cash and cash equivalents represent highly-liquid instruments and constitute Level 1 fair value measurements. Certain of the Company’s debt is actively traded on a public market and, as a result, constitute Level 1 fair value measurements. The portion of the Company’s debt obligations that is not actively traded is valued through reference to the applicable underlying benchmark rate and, as a result, constitute Level 2 fair value measurements.