Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.1
Leases (Tables)
3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Lease, Cost
The following table summarizes the components of our total lease cost for the periods presented:
Three Months Ended March 31,
2021 2020
Operating lease cost $ 216  $ 210 
Short-term lease cost 2,752  11,296 
Variable lease cost 4,874  5,657 
Less: Amounts charged as drilling costs 1
(2,082) (10,621)
Total lease cost recognized in the Condensed Consolidated Statement of Operations 2
$ 5,760  $ 6,542 
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1    Represents the combined gross amounts incurred 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 $2.2 million and $2.8 million recognized in Gathering, processing and transportation expense (“GPT”), $3.3 million and $3.5 million recognized in Lease operating expense (“LOE”) for the three months ended March 31, 2021 and 2020, respectively, and $0.2 million recognized in G&A for each of the three months ended March 31, 2021 and 2020.
[1]
[1] 1    Represents the combined gross amounts incurred 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.