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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2024 and December 31, 2023, by level within the fair value hierarchy:

			June 30, 2024
			Level 1						Level 2						Level 3						Total
			(In thousands)
Financial assets:
Commodity derivative assets			$	—					$	9,124					$	—					$	9,124
Interest rate assets			$	—					$	1,982					$	—					$	1,982
Financial liabilities:
Commodity derivative liabilities			$	—					$	(19,868)					$	—					$	(19,868)
			December 31, 2023
			Level 1						Level 2						Level 3						Total
			(In thousands)
Financial assets:
Commodity derivative assets			$	—					$	14,766					$	—					$	14,766
Interest rate assets			$	—					$	869					$	—					$	869
Financial liabilities:
Commodity derivative liabilities			$	—					$	(8,686)					$	—					$	(8,686)

The following table summarizes the fair value and carrying amount of the Company's financial instruments.

			June 30, 2024												December 31, 2023
			Carrying Amount						Fair Value						Carrying Amount						Fair Value
			(In thousands)
Credit Facility (Level 2)			$	160,000					$	160,000					$	185,000					$	185,000
Senior Notes (Level 2)(1)			$	162,720					$	182,638					$	170,959					$	185,346

_____________________

(1)The carrying value reported for the Senior Notes is shown net of unamortized discount and unamortized deferred financing costs.

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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