Significant Accounting Policies (Policies) |
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Sep. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basis of Accounting, Policy [Policy Text Block] |
Interim Financial Statements. not include all of the information and footnote disclosures required by GAAP for complete financial statements for annual periods. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.Operating results for interim periods are
not necessarily indicative of the results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10 -K for the year ended December 31, 2018.
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| Use of Estimates, Policy [Policy Text Block] |
Use of Estimates. |
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| Lessee, Leases [Policy Text Block] |
Leases. February 2016, Accounting Standards Update 2016 -02, Leases (Topic ) (“ASU 842
2016 -02” ) was issued requiring an entity to recognize a right-of-use (“ROU”) asset and lease liability for all leases. The classification of leases as either a finance or operating lease determines the recognition, measurement and presentation of expenses. ASU 2016 -02 also requires certain quantitative and qualitative disclosures about leasing arrangements. Leases acquired to explore for or extract oil or natural gas resources, including the right to explore for those natural resources and rights to use the land in which those natural resources are contained, are not within the scope of this standard’s update. ASU 2016 -02 was effective for us in the first quarter of 2019 and we adopted the new standard using a modified retrospective approach, with the date of initial application on January
1,2019. Consequently, upon transition, we recognized an ROU asset and a lease liability with no retained earnings impact. See Note 8 for additional information. |
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| Revenue from Contract with Customer [Policy Text Block] |
Revenue Recognition 12 months). Our responsibilities to deliver a unit of crude oil, NGL, and natural gas under these contracts represent separate, distinct performance obligations. These performance obligations are satisfied at the point in time control of each unit is transferred to the customer. Pricing is primarily determined utilizing a particular pricing or market index, plus or minus adjustments reflecting quality or location differentials. |
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| Reclassification, Policy [Policy Text Block] |
Reclassifications. Other expense, net to Interest expense, net , which did not change Income (loss) before income tax (benefit) expense . In the Condensed Consolidated Statements of Cash Flows, adjustments were made to certain line items within the Net cash provided by operating activities and Net cash used in investing activities sections, of which did not change the total amounts previous reported. The adjustments did not affect the Condensed Consolidated Balance Sheets. |
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| Prepaid Expenses and Other Assets [Policy Text Block] |
Prepaid Expenses and Other Assets. one year and the major categories are presented in the following table (in thousands):
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| Property, Plant and Equipment, Policy [Policy Text Block] |
Oil and Natural Gas Properties and Other, Net – At Cost. no amounts excluded from amortization as of the dates presented in the following table (in thousands):
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| Other Noncurrent Assets [Policy Text Block] |
Other Assets (long-term).
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| Accrued Liabilities Policy [Policy Text Block] |
Accrued Liabilities.
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| Other Noncurrent Liabilities [Policy Text Block] |
Other Liabilities (long-term).
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| New Accounting Pronouncements, Policy [Policy Text Block] |
Recent Accounting Developments. In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016 -13, Financial Instruments – Credit Losses (Topic ) (“ASU 326
2016 -13” ) and subsequently issued additional guidance on this topic. The new guidance eliminates the probable recognition threshold and broadens the information to consider past events, current conditions and forecasted information in estimating credit losses. ASU 2016 -13 is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted for fiscal years beginning after December 15, 2018. Our assessment is this amendment will not have a material impact on our financial statements.In August 2017, the FASB issued Accounting Standards Update No. 2017 -12, Derivatives and Hedging (Topic (“ASU 815 ) – Targeted Improvements to Accounting for Hedging Activities 2017 -12” ) and subsequently issued additional guidance on this topic. The amendments in ASU 2017 -12 require an entity to present the earnings effect of the hedging instrument in the same income statement line in which the earning effect of the hedged item is reported. This presentation enables users of financial statements to better understand the results and costs of an entity’s hedging program. Also, relative to current GAAP, this approach simplifies the financial statement reporting for qualifying hedging relationships. ASU 2017 -12 is effective for fiscal years beginning after December 15, 2019 and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. As we do not designate our commodity derivative instruments as qualifying hedging instruments, our assessment is this amendment will not impact the presentation of the changes in fair values of our commodity derivative instruments on our financial statements.In
August 2018, the SEC issued Final Rule Release No. 33 -10532, Disclosure Update and Simplification , which revised Regulation S-X, Rule 3 -04, Changes in Stockholders’ Equity and Noncontrolling Interests . The new requirement for registrants is to include a reconciliation of changes in stockholders’ equity (deficit) in interim periods for each period that for which a statement of operations is required to be filed. The new requirement became effective for us for the quarter ended March 31, 2019.
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