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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis by the fair value hierarchy (in thousands):

December 31, 2018 

			Fair Value Measurements																														Netting(1)						Assets/Liabilities at Fair Value
			Level 1						Level 2						Level 3
Assets
Commodity derivative contracts			$	—					$	5,286					$	—					$	—					$	5,286
			$	—					$	5,286					$	—					$	—					$	5,286

December 31, 2017 

			Fair Value Measurements																														Netting(1)						Assets/Liabilities at Fair Value
			Level 1						Level 2						Level 3
Assets
Commodity derivative contracts			$	—					$	5,582					$	—					(4,272)						$	1,310
Investments			5,072						—						—						—						5,072
			$	5,072					$	5,582					$	—					$	(4,272)					$	6,382
Liabilities
Commodity derivative contracts			$	—					$	18,467					$	—					$	(4,272)					$	14,195
			$	—					$	18,467					$	—					$	(4,272)					$	14,195

____________________

1.Represents the impact of netting assets and liabilities with counterparties where the right of offset exists.

Estimated Fair Value and Carrying Value of the Company's Notes

The estimated fair values and carrying values of the Company’s long-term debt are as follows (in thousands):

			December 31, 2018																		December 31, 2017
			Fair Value						Carrying Value						Fair Value						Carrying Value
Building Note			$	—					$	—					$	42,526					$	37,502

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

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- References

No definition available.

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X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

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