Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE (Tables)

v3.19.1
FAIR VALUE (Tables)
3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]  
Financial instruments measured at fair value 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:
  Fair Value Measurements at March 31, 2019 Using
(In thousands) Quoted Prices In Active Markets for Identical Assets (Liabilities)
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Commodity Derivatives – Current Asset (crude oil price and basis swaps) $ —  $ 18,578  $ — 
Commodity Derivatives – Noncurrent Asset (crude oil price swaps) —  17,839  — 
Commodity Derivatives – Current Liabilities (crude oil price and basis swaps) —  (5,882) — 
Commodity Derivatives – Noncurrent Liabilities (crude oil price swaps) —  (4,991) — 
Contingent Consideration – Current Liabilities —  —  (37,160)
Debt Exchange Derivatives – Current Liabilities —  —  (9,225)
Total $ —  $ 25,544  $ (46,385)
  Fair Value Measurements at December 31, 2018 Using
 (In thousands) Quoted Prices In Active Markets for Identical Assets (Liabilities)
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Commodity Derivatives – Current Asset (crude oil price and basis swaps) $ —  $ 115,870  $ — 
Commodity Derivatives – Noncurrent Asset (crude oil price swaps) —  61,843  — 
Contingent Consideration – Current Liabilities —  —  (58,069)
Debt Exchange Derivatives – Current Liabilities —  —  (18,183)
Total $ —  $ 177,713  $ (76,252)
Changes in fair value of financing instruments classified as Level 3
The following table summarizes the changes in fair value of the Company’s financial instruments classified as Level 3 in the fair value hierarchy:

(In thousands) Three Months Ended March 31, 2019
Beginning Balance $ (76,252)
Debt exchange derivative liability settlements 2,671 
Change in fair value of debt exchange derivative liability 6,287 
Contingent consideration settlements 19,517 
Change in fair value of contingent consideration 1,392 
Ending Balance $ (46,385)