Significant Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
Accounting Policies [Abstract] |
|
Percentage of Revenue by Major Customers |
The following table identifies customers from whom we derived 10% or more of our receipts from sales of crude oil, NGLs and natural gas:
|
Year Ended December 31,
|
|
|
2018
|
|
|
2017
|
|
|
2016
|
|
Customer
|
|
|
|
|
|
|
|
|
|
|
|
Shell Trading (US) Co.
|
|
30
|
%
|
|
|
46
|
%
|
|
|
43
|
%
|
BP Products North America
|
|
20
|
%
|
|
**
|
|
|
**
|
|
Vitol Inc.
|
|
14
|
%
|
|
|
15
|
%
|
|
|
20
|
%
|
** Less than 10%
|
Schedule of Changes to Allowance for Doubtful Accounts |
The following table describes the balance and changes to the allowance for doubtful accounts:
|
2018
|
|
|
2017
|
|
|
2016
|
|
Allowance for doubtful accounts, beginning of period
|
$
|
9,114
|
|
|
$
|
7,602
|
|
|
$
|
2,490
|
|
Additional provisions for the year
|
|
1,233
|
|
|
|
1,512
|
|
|
|
5,112
|
|
Uncollectable accounts written off
|
|
(655
|
)
|
|
|
—
|
|
|
|
—
|
|
Allowance for doubtful accounts, end of period
|
$
|
9,692
|
|
|
$
|
9,114
|
|
|
$
|
7,602
|
|
|
Schedule of Amounts Recorded in Prepaid Expenses and Other Assets |
Amounts recorded in Prepaid expenses and other assets on the Consolidated Balance Sheets are expected to be realized within one year. The following table describes the major items for the periods presented:
|
Year Ended December 31,
|
|
|
2018
|
|
|
2017
|
|
Derivatives – current (1)
|
$
|
60,687
|
|
|
$
|
—
|
|
Prepaid/accrued insurance
|
|
2,987
|
|
|
|
2,401
|
|
Surety bonds unamortized premiums
|
|
2,210
|
|
|
|
2,676
|
|
Prepaid deposits related to royalties
|
|
8,872
|
|
|
|
6,456
|
|
Advances for capital expenditures
|
|
745
|
|
|
|
—
|
|
Other
|
|
905
|
|
|
|
1,886
|
|
Prepaid expenses and other assets
|
$
|
76,406
|
|
|
$
|
13,419
|
|
|
(1)
|
Includes both open and closed contracts.
|
|
Schedule of Oil and Natural Gas Properties and Other, Net at Cost |
Oil and natural gas properties and equipment are recorded at cost using the full cost method. There were no amounts excluded from amortization as of the dates presented in the following table (in thousands):
|
December 31,
|
|
|
2018
|
|
|
2017
|
|
Oil and natural gas properties and equipment
|
$
|
8,169,871
|
|
|
$
|
8,102,044
|
|
Furniture, fixtures and other
|
|
20,228
|
|
|
|
21,831
|
|
Total property and equipment
|
|
8,190,099
|
|
|
|
8,123,875
|
|
Less accumulated depreciation, depletion and amortization
|
|
7,674,678
|
|
|
|
7,544,859
|
|
Oil and natural gas properties and other, net
|
$
|
515,421
|
|
|
$
|
579,016
|
|
|
Schedule of Other Assets (Long-term) |
The major categories recorded in Other assets are presented in the following table (in thousands):
|
December 31,
|
|
|
2018
|
|
|
2017
|
|
Escrow deposit – Apache lawsuit
|
$
|
49,500
|
|
|
$
|
49,500
|
|
Appeal bond deposits
|
|
6,925
|
|
|
|
6,925
|
|
Unamortized debt issuance costs
|
|
4,773
|
|
|
|
330
|
|
Investment in White Cap, LLC
|
|
2,586
|
|
|
|
2,511
|
|
Derivatives
|
|
21,275
|
|
|
|
—
|
|
Unamortized brokerage fee for Monza
|
|
2,277
|
|
|
|
—
|
|
Proportional consolidation of Monza's
other assets (Note 4)
|
|
3,275
|
|
|
|
—
|
|
Other
|
|
936
|
|
|
|
1,127
|
|
Total other assets
|
$
|
91,547
|
|
|
$
|
60,393
|
|
|
Schedule of Accrued Liabilities |
The major categories recorded in Accrued liabilities are presented in the following table (in thousands):
|
December 31,
|
|
|
2018
|
|
|
2017
|
|
Accrued interest
|
$
|
12,385
|
|
|
$
|
4,200
|
|
Accrued salaries/payroll taxes/benefits
|
|
2,320
|
|
|
|
2,454
|
|
Incentive compensation plans
|
|
10,817
|
|
|
|
7,366
|
|
Litigation accruals
|
|
3,673
|
|
|
|
3,480
|
|
Other
|
|
416
|
|
|
|
430
|
|
Total accrued liabilities
|
$
|
29,611
|
|
|
$
|
17,930
|
|
|
Schedule of Other Liabilities (Long-term) |
The major categories recorded in Other liabilities are presented in the following table (in thousands):
|
December 31,
|
|
|
2018
|
|
|
2017
|
|
Apache lawsuit
|
$
|
49,500
|
|
|
$
|
49,500
|
|
Uncertain tax positions including interest/penalties
|
|
11,523
|
|
|
|
11,015
|
|
Dispute related to royalty deductions
|
|
4,787
|
|
|
|
—
|
|
Dispute related to royalty-in-kind
|
|
2,135
|
|
|
|
914
|
|
Other
|
|
745
|
|
|
|
5,437
|
|
Total other liabilities (long-term)
|
$
|
68,690
|
|
|
$
|
66,866
|
|
|