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FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 2022
FAIR VALUE MEASUREMENTS  
Schedule of fair value of the Company's financial assets and liabilities

liabilities associated with commodity-based derivative contracts that were accounted for at fair value as of September 30, 2022 and December 31, 2021 (in thousands):

September 30, 2022

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets

Assets from commodity-based derivative contracts

$

$

27,014

$

$

27,014

Liabilities

Liabilities from commodity-based derivative contracts

$

$

64,671

$

$

64,671

December 31, 2021

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets

Assets from commodity-based derivative contracts

$

$

3,898

$

$

3,898

Liabilities

Liabilities from commodity-based derivative contracts

$

$

65,466

$

$

65,466

Schedule of changes in fair value of the change of control call option The following table sets forth a reconciliation of the changes in fair value of the Change of Control Call Option classified as Level 3 in the fair value hierarchy (in thousands):

Change of Control

Call Option

Balance at December 31, 2021

$

4,003

Change in fair value

(3,043)

Balance at September 30, 2022

$

960