DIVESTITURES	12 Months Ended
Dec. 31, 2019
DIVESTITURES [Abstract]
DIVESTITURES	NOTE 8. DIVESTITURES 2019 In January 2019, the Company closed on the sale of certain oil and natural gas properties in the Mid-Continent area to a third party for total consideration of $1.8 million, net of purchase price adjustments. The Company did not record a gain, loss or impairment related to this sale. In April 2019, the Company closed on the sale of all of its (i) oil and natural gas properties in the San Juan Basin and (ii) membership interests in EnerVest Mesa, LLC, a wholly-owned subsidiary of EV Properties, L.P., to a third party for total consideration of $36.8 million, net of purchase price adjustments, of which $0.3 million is receivable related to the final purchase price settlement and is included in “Accounts receivable – other” on the consolidated balance sheets. The Company expects to receive these proceeds in 2020. The Company recognized impairment expense of $25.4 million during the year ended December 31, 2019 related to this sale. During the second quarter of 2019, the Company closed on the sale of certain oil and natural gas properties in the Mid-Continent area to a third party for total consideration of $2.2 million, net of purchase price adjustments, which included $0.9 million of preferential rights to purchase that were exercised by other working interest owners. The Company recognized impairment expense of $1.8 million during the year ended December 31, 2019 related to this sale. In September and December of 2019, the Company closed on the sale of substantially all of its oil and natural gas properties in the Barnett Shale for total consideration of $68.4 million, net of purchase price adjustments. The sale of the remaining oil and natural gas properties in the Barnett Shale are expected to close during the first half of 2020 for total consideration of $0.1 million subject to customary purchase price adjustments. The Company recognized impairment expense of $78.1 million during the year ended December 31, 2019 related to this sale. As of December 31, 2019, the remaining oil and natural gas properties in the Barnett Shale were classified as held for sale; $0.1 million of the assets held for sale and less than $0.1 million of the ARO classified as liabilities held for sale on the consolidated balance sheets were attributable to these oil and natural gas properties not yet sold. In September 2019, the Company closed on the sale of certain oil and natural gas properties in the Mid-Continent area to a third party for total consideration of $4.9 million, net of purchase price adjustments, of which $0.4 million is payable related to the final purchase price settlement and is included in “Accounts payable and accrued liabilities” on the consolidated balance sheets. The Company recognized a gain of $0.2 million during the year ended December 31, 2019 related to this sale. In November 2019, the Company closed on the sale of all of its oil and natural gas properties in the Monroe Field in Northern Louisiana for total consideration due to the buyer of less than $0.1 million, net of purchase price adjustments, of which $0.2 million is receivable related to the final purchase price settlement and is included in “Accounts receivable – other” on the consolidated balance sheets. The Company expects to receive these proceeds in 2020. The Company recognized impairment expense of $2.1 million during the year ended December 31, 2019 related to this sale. In December 2019, the Company closed on the sale of substantially all of its oil and natural gas properties in the Permian Basin for total consideration of $2.9 million, net of purchase price adjustments. The sale of the remaining oil and gas properties in the Permian Basin are expected to close during the first half of 2020 for total consideration of $0.1 million subject to customary purchase price adjustments. The Company recognized impairment expense of $8.0 million during the year ended December 31, 2019 related to this sale. As of December 31, 2019, the remaining oil and natural gas properties in the Permian Basin were classified as held for sale; $0.2 million of the assets held for sale and $0.1 million of the ARO classified as liabilities held for sale on the consolidated balance sheet were attributable to these oil and natural gas properties not yet sold. In the fourth quarter of 2019, the Company closed on multiple sales comprising the remaining of its oil and natural gas properties in the Mid-Continent area for the total consideration of $0.7 million, net of purchase price adjustments. The Company recognized impairment expense of $4.9 million during the year ended December 31, 2019 related to these sales. In 2019, the Company closed on multiple sales of certain its non-core oil and natural gas properties for total consideration of $0.7 million. The Company recognized a gain of $0.1 million during the year ended December 31, 2019 related to these sales. In March 2020, the Company signed a purchase and sale agreement to sell all of its Michigan oil and natural gas properties for a purchase price of $4.8 million, subject to an adjustment based on the value of certain derivative contracts and other customary purchase price adjustments. As a result, the Company recognized an impairment of $8.8 million during the year ended December 31, 2019. 2018 In August 2018, the Company closed on the sale of certain of its oil and natural gas properties in Central Texas and Karnes County, Texas (the “Central Texas Divestiture”) to Magnolia Oil & Gas Parent LLC and Magnolia Oil & Gas Corporation (collectively, “Magnolia”) for total consideration of $134.4 million in cash, net of purchase price adjustments, and 4.2 million shares of common stock of Magnolia (NYSE: MGY). Based on the closing price for Magnolia’s common stock on August 31, 2018, total consideration was $192.7 million, net of purchase price adjustments. The Company recognized impairment expense of $2.9 million during the seven months ended December 31, 2018 related to this sale. In March 2019, the Company received $1.4 million related to the final settlement which was included in “Accounts receivable – other “ on the consolidated balance sheets as of December 31, 2018. In January 2019, the Company sold all of its 4.2 million shares of common stock of Magnolia for net proceeds of $51.7 million. In August 2018, the Company closed the sale of certain of its oil and natural gas properties in Central Texas to a third party for total consideration of $3.4 million, net of purchase price adjustments. The Company recognized impairment expense of $0.2 million during the seven months ended December 31, 2018 related to this sale. In December 2018, the Company closed the sale of certain oil and natural gas properties in Central Texas to a third party for total consideration of $2.6 million, net of purchase price adjustments. The Company recorded a gain of $0.7 million related to this sale. In December 2018, the Company closed the sale of certain oil and natural gas properties in the Mid–Continent area to a third party for total consideration of $1.0 million, net of purchase price adjustments. The Company did not record a gain, loss or impairment related to this sale. 2017 In February 2017, EVEP, along with certain institutional partnerships managed by EnerVest, entered into an Agreement of Sale and Purchase to sell certain oil and natural gas properties in Ohio and Pennsylvania to a third party for total consideration of $1.1 million, net of purchase price adjustments. EVEP did not record a gain, loss or impairment related to this sale. In April 2017, EVEP sold certain oil and natural gas properties in East Texas to a third party for total consideration of $0.6 million. EVEP recognized impairment expense of $2.9 million during the year ended December 31, 2017 related to this sale. In August 2017, EVEP sold certain acreage in the San Juan Basin to a third party for total considerations of $1.0 million. EVEP recorded a gain of $1.0 million on this sale.

NOTE 8. DIVESTITURES

2019

In January 2019, the Company closed on the sale of certain oil and natural gas properties in the Mid-Continent area to a third party for total consideration of $1.8 million, net of purchase price adjustments. The Company did not record a gain, loss or impairment related to this sale.

In April 2019, the Company closed on the sale of all of its (i) oil and natural gas properties in the San Juan Basin and (ii) membership interests in EnerVest Mesa, LLC, a wholly-owned subsidiary of EV Properties, L.P., to a third party for total consideration of $36.8 million, net of purchase price adjustments, of which $0.3 million is receivable related to the final purchase price settlement and is included in “Accounts receivable – other” on the consolidated balance sheets. The Company expects to receive these proceeds in 2020. The Company recognized impairment expense of $25.4 million during the year ended December 31, 2019 related to this sale.

During the second quarter of 2019, the Company closed on the sale of certain oil and natural gas properties in the Mid-Continent area to a third party for total consideration of $2.2 million, net of purchase price adjustments, which included $0.9 million of preferential rights to purchase that were exercised by other working interest owners. The Company recognized impairment expense of $1.8 million during the year ended December 31, 2019 related to this sale.

In September and December of 2019, the Company closed on the sale of substantially all of its oil and natural gas properties in the Barnett Shale for total consideration of $68.4 million, net of purchase price adjustments. The sale of the remaining oil and natural gas properties in the Barnett Shale are expected to close during the first half of 2020 for total consideration of $0.1 million subject to customary purchase price adjustments. The Company recognized impairment expense of $78.1 million during the year ended December 31, 2019 related to this sale. As of December 31, 2019, the remaining oil and natural gas properties in the Barnett Shale were classified as held for sale; $0.1 million of the assets held for sale and less than $0.1 million of the ARO classified as liabilities held for sale on the consolidated balance sheets were attributable to these oil and natural gas properties not yet sold.

In September 2019, the Company closed on the sale of certain oil and natural gas properties in the Mid-Continent area to a third party for total consideration of $4.9 million, net of purchase price adjustments, of which $0.4 million is payable related to the final purchase price settlement and is included in “Accounts payable and accrued liabilities” on the consolidated balance sheets. The Company recognized a gain of $0.2 million during the year ended December 31, 2019 related to this sale.

In November 2019, the Company closed on the sale of all of its oil and natural gas properties in the Monroe Field in Northern Louisiana for total consideration due to the buyer of less than $0.1 million, net of purchase price adjustments, of which $0.2 million is receivable related to the final purchase price settlement and is included in “Accounts receivable – other” on the consolidated balance sheets. The Company expects to receive these proceeds in 2020. The Company recognized impairment expense of $2.1 million during the year ended December 31, 2019 related to this sale.

In December 2019, the Company closed on the sale of substantially all of its oil and natural gas properties in the Permian Basin for total consideration of $2.9 million, net of purchase price adjustments. The sale of the remaining oil and gas properties in the Permian Basin are expected to close during the first half of 2020 for total consideration of $0.1 million subject to customary purchase price adjustments. The Company recognized impairment expense of $8.0 million during the year ended December 31, 2019 related to this sale. As of December 31, 2019, the remaining oil and natural gas properties in the Permian Basin were classified as held for sale; $0.2 million of the assets held for sale and $0.1 million of the ARO classified as liabilities held for sale on the consolidated balance sheet were attributable to these oil and natural gas properties not yet sold.

In the fourth quarter of 2019, the Company closed on multiple sales comprising the remaining of its oil and natural gas properties in the Mid-Continent area for the total consideration of $0.7 million, net of purchase price adjustments. The Company recognized impairment expense of $4.9 million during the year ended December 31, 2019 related to these sales.

In 2019, the Company closed on multiple sales of certain its non-core oil and natural gas properties for total consideration of $0.7 million. The Company recognized a gain of $0.1 million during the year ended December 31, 2019 related to these sales.

In March 2020, the Company signed a purchase and sale agreement to sell all of its Michigan oil and natural gas properties for a purchase price of $4.8 million, subject to an adjustment based on the value of certain derivative contracts and other customary purchase price adjustments. As a result, the Company recognized an impairment of $8.8 million during the year ended December 31, 2019.

2018

In August 2018, the Company closed on the sale of certain of its oil and natural gas properties in Central Texas and Karnes County, Texas (the “Central Texas Divestiture”) to Magnolia Oil & Gas Parent LLC and Magnolia Oil & Gas Corporation (collectively, “Magnolia”) for total consideration of $134.4 million in cash, net of purchase price adjustments, and 4.2 million shares of common stock of Magnolia (NYSE: MGY). Based on the closing price for Magnolia’s common stock on August 31, 2018, total consideration was $192.7 million, net of purchase price adjustments. The Company recognized impairment expense of $2.9 million during the seven months ended December 31, 2018 related to this sale. In March 2019, the Company received $1.4 million related to the final settlement which was included in “Accounts receivable – other “ on the consolidated balance sheets as of December 31, 2018. In January 2019, the Company sold all of its 4.2 million shares of common stock of Magnolia for net proceeds of $51.7 million.

In August 2018, the Company closed the sale of certain of its oil and natural gas properties in Central Texas to a third party for total consideration of $3.4 million, net of purchase price adjustments. The Company recognized impairment expense of $0.2 million during the seven months ended December 31, 2018 related to this sale.

In December 2018, the Company closed the sale of certain oil and natural gas properties in Central Texas to a third party for total consideration of $2.6 million, net of purchase price adjustments. The Company recorded a gain of $0.7 million related to this sale.

In December 2018, the Company closed the sale of certain oil and natural gas properties in the Mid–Continent area to a third party for total consideration of $1.0 million, net of purchase price adjustments. The Company did not record a gain, loss or impairment related to this sale.

2017

In February 2017, EVEP, along with certain institutional partnerships managed by EnerVest, entered into an Agreement of Sale and Purchase to sell certain oil and natural gas properties in Ohio and Pennsylvania to a third party for total consideration of $1.1 million, net of purchase price adjustments. EVEP did not record a gain, loss or impairment related to this sale.

In April 2017, EVEP sold certain oil and natural gas properties in East Texas to a third party for total consideration of $0.6 million. EVEP recognized impairment expense of $2.9 million during the year ended December 31, 2017 related to this sale.

In August 2017, EVEP sold certain acreage in the San Juan Basin to a third party for total considerations of $1.0 million. EVEP recorded a gain of $1.0 million on this sale.