Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Lease, Cost
The following table summarizes the components of our total lease cost for the periods presented:
 
 
Three Months Ended March 31,
 
 
2020
 
2019
Operating lease cost
 
$
210

 
$
163

Short-term lease cost
 
11,296

 
11,571

Variable lease cost
 
5,657

 
5,095

Less: Amounts charged as drilling costs 1
 
(10,621
)
 
(10,851
)
Total lease cost recognized in the Condensed Consolidated Statement of Operations 2
 
$
6,542

 
$
5,978

___________________
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 $2.8 million and $2.1 million recognized in Gathering, processing and transportation, $3.5 million and $3.7 million recognized in Lease operating and $0.2 million and $0.2 million recognized in G&A for the three months ended March 31, 2020 and 2019, respectively.
Schedule of Supplemental Cash Flow Information Related to Leases
The following table summarizes supplemental cash flow information related to leases for the periods presented:
 
Three Months Ended March 31,
 
2020
 
2019
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
Operating cash flows from operating leases
$
218

 
$
39

ROU assets obtained in exchange for lease obligations:
 
 
 
Operating leases 1
$
306

 
$
2,572


Schedule of Supplemental Balance Sheet Information Related to Leases
 
Three Months Ended March 31,
 
2020
 
2019
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
Operating cash flows from operating leases
$
218

 
$
39

ROU assets obtained in exchange for lease obligations:
 
 
 
Operating leases 1
$
306

 
$
2,572


___________________
1    Includes $2.5 million recognized upon the adoption of Accounting Standards Codification Topic 842 (“ASC842”) in 2019.
The following table summarizes supplemental balance sheet information related to leases as of the dates presented:
 
March 31,
 
December 31,
 
2020
 
2019
ROU assets - operating leases
$
2,928

 
$
2,740

Current operating lease obligations
$
927

 
$
847

Noncurrent operating lease obligations
2,335

 
2,232

Total operating lease obligations
$
3,262

 
$
3,079

Weighted-average remaining lease term
 
 
 
Operating leases
3.8 Years

 
4.1 Years

Weighted-average discount rate
 
 
 
Operating leases
3.26
%
 
5.97
%
Remaining maturities of operating lease obligations as of March 31, 2020:
 
 
 
2020
$
689

 
 
2021
894

 
 
2022
874

 
 
2023
873

 
 
2024 and thereafter
144

 
 
Total undiscounted lease payments
3,474

 
 
Less: imputed interest
(212
)
 
 
Total operating lease obligations
$
3,262