Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.3
Leases (Tables)
9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Lease, Cost
The following table summarizes the components of our total lease cost for the periods presented:
 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30, 2019
Operating lease cost
 
$
208

 
$
565

Short-term lease cost
 
9,969

 
33,024

Variable lease cost
 
6,777

 
17,420

Less: Amounts charged as drilling costs 1
 
(9,224
)
 
(30,865
)
Total lease cost recognized in the Condensed Consolidated Statement of Operations 2
 
$
7,730

 
$
20,144

___________________
1 
Represents the combined gross amounts paid and (i) capitalized as drilling costs for our working interest share and (ii) billed to joint interest partners for their working interest share for short-term leases of operated drilling rigs.
2 
Includes $3.9 million and $8.9 million recognized in Gathering, processing and transportation, $3.6 million and $10.7 million recognized in Lease operating and $0.2 million and $0.6 million recognized in G&A for the three and nine months ended September 30, 2019, respectively.
Schedule of Supplemental Cash Flow Information Related to Leases
The following table summarizes supplemental cash flow information related to leases for the nine months ended September 30, 2019:
Cash paid for amounts included in the measurement of lease liabilities:
 
 
Operating cash flows from operating leases
 
$
442

ROU assets obtained in exchange for lease obligations:
 
 
Operating leases 1
 
$
3,325


Schedule of Supplemental Balance Sheet Information Related to Leases
Cash paid for amounts included in the measurement of lease liabilities:
 
 
Operating cash flows from operating leases
 
$
442

ROU assets obtained in exchange for lease obligations:
 
 
Operating leases 1
 
$
3,325


___________________
1    Includes $2.5 million recognized upon adoption of ASC Topic 842 and $0.8 million obtained during the nine months ended September 30, 2019.
The following table summarizes supplemental balance sheet information related to leases as of September 30, 2019:
ROU assets - operating leases
 
$
2,901

 
 
 
Current operating lease obligations
 
$
858

Noncurrent operating lease obligations
 
2,389

Total operating lease obligations
 
$
3,247

 
 
 
Weighted-average remaining lease term
 
 
Operating leases
 
4.3 Years

 
 
 
Weighted-average discount rate
 
 
Operating leases
 
5.97
%
 
 
 
Maturities of operating lease obligations for the years ending December 31,
 
 
2019
 
$
217

2020
 
847

2021
 
830

2022
 
833

2023
 
833

2024 and thereafter
 
139

Total undiscounted lease payments
 
3,699

Less: imputed interest
 
(452
)
Total operating lease obligations
 
$
3,247