Subsequent Events	3 Months Ended
Mar. 31, 2017
Subsequent Events
Subsequent Events	18. SUBSEQUENT EVENTS On April 17, 2017, the Partnership received notification that pursuant to the terms of its Credit Agreement its lenders have completed both their quarterly review of the midstream component and their semi-annual review of the RBL component of the Partnership’s borrowing base. Based on this review, the midstream component was set at $168.1 million and the RBL component was set at $47.5 million, resulting in a total borrowing base of $215.6 million. The elected commitment amount remained unchanged at $200.0 million. On May 10, 2017, we entered into a purchase and sale agreement to sell all of the Partnership’s equity interests in the entities that own our remaining operated oil and natural gas wells, leases and other associated assets and interests in Oklahoma for cash consideration of $5.5 million, subject to adjustment for title and environmental defects. The buyer has agreed to assume all obligations relating to the assets arising after the closing date and all plugging and abandonment costs relating to the assets arising prior to the closing date. The transaction is anticipated to close by July 15, 2017, subject to customary closing conditions. We do not expect to record a loss from the sale at closing. On May 10, 2017, the board of directors of the general partner of the Partnership declared a first quarter 2017 cash distribution on its common units of $0.4375 per unit ($1.75 per unit annualized) payable on May 31, 2017 to holders of record on May 22, 2017. The Partnership also declared a first quarter distribution on the Class B preferred units and elected to pay the distribution in part cash and in part common units. Accordingly, the Partnership declared a cash distribution of $0.2258 per Class B preferred unit and an aggregate distribution of 184,697 common units, each payable on May 31, 2017 to holders of record on May 22, 2017.

18. SUBSEQUENT EVENTS

On April 17, 2017, the Partnership received notification that pursuant to the terms of its Credit Agreement its lenders have completed both their quarterly review of the midstream component and their semi-annual review of the RBL component of the Partnership’s borrowing base. Based on this review, the midstream component was set at $168.1 million and the RBL component was set at $47.5 million, resulting in a total borrowing base of $215.6 million. The elected commitment amount remained unchanged at $200.0 million.

On May 10, 2017, we entered into a purchase and sale agreement to sell all of the Partnership’s equity interests in the entities that own our remaining operated oil and natural gas wells, leases and other associated assets and interests in Oklahoma for cash consideration of $5.5 million, subject to adjustment for title and environmental defects. The buyer has agreed to assume all obligations relating to the assets arising after the closing date and all plugging and abandonment costs relating to the assets arising prior to the closing date. The transaction is anticipated to close by July 15, 2017, subject to customary closing conditions. We do not expect to record a loss from the sale at closing.

On May 10, 2017, the board of directors of the general partner of the Partnership declared a first quarter 2017 cash distribution on its common units of $0.4375 per unit ($1.75 per unit annualized) payable on May 31, 2017 to holders of record on May 22, 2017. The Partnership also declared a first quarter distribution on the Class B preferred units and elected to pay the distribution in part cash and in part common units. Accordingly, the Partnership declared a cash distribution of $0.2258 per Class B preferred unit and an aggregate distribution of 184,697 common units, each payable on May 31, 2017 to holders of record on May 22, 2017.