Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Long-term Debt, Fair Value The following table summarizes the carrying values, principal amounts and fair values of these instruments as of the dates indicated:
 
 
September 30, 2020
 
December 31, 2019
 
 
Carrying Value
 
Principal Amount
 
Fair Value
 
Carrying Value
 
Principal Amount
 
Fair value
Credit facility due 2023(1)
 
$
355,000

 
$
355,000

 
$
355,000

 
$
175,000

 
$
175,000

 
$
175,000

8.00% Senior Secured Notes due 2025(2)
 
102,916

 
127,073

 
101,658

 
—

 
—

 
—

5.375% Senior Notes due 2026(2)
 
284,675

 
289,448

 
117,226

 
392,623

 
400,000

 
394,480

6.875% Senior Notes due 2027(2)
 
349,650

 
356,351

 
144,322

 
489,766

 
500,000

 
520,000

 
(1)  
The carrying values of the amounts outstanding under CRP’s credit agreement approximate fair value because its variable interest rates are tied to current market rates and the applicable credit spreads represent current market rates for the credit risk profile of the Company.
(2) 
The carrying values include associated unamortized debt issuance costs and any debt discounts as reflected in the consolidated balance sheets. The fair values are determined using quoted market prices for these debt securities, a Level 1 classification in the fair value hierarchy, and are based on the aggregate principal amount of the Senior Notes outstanding.
Schedule of Fair Value Measurement of Financial Instruments
The following table presents, for each applicable level within the fair value hierarchy, the Company’s net derivative assets and liabilities, including both current and noncurrent portions, measured at fair value on a recurring basis:
(in thousands)
Level 1
 
Level 2
 
Level 3
September 30, 2020
 
 
 
 
 
Total assets
$
—

 
$
1,647

 
$
—

Total liabilities
—

 
869

 
—

December 31, 2019
 
 
 
 
 
Total assets
$
—

 
$
—

 
$
—

Total liabilities
—

 
325

 
—