Commitments

3 Months Ended

Mar. 31, 2020

Commitments

Commitments

(13) Commitments

The table below is a schedule of future minimum payments for firm transportation, drilling rig and completion services, processing, gathering and compression, and office and equipment agreements, which include leases that have remaining lease terms in excess of one year as of March 31, 2020 (in thousands).

			Processing,
	Firm		gathering and		Land payment		Operating and		Imputed Interest
	transportation		compression		obligations		Financing Leases		for Leases
	(a)		(b)		(c)		(d)		(d)		Total
Remainder of 2020	$	832,753		42,144		2,411		228,796		236,275		1,342,379
2021		1,076,995		55,780		2,859		269,661		289,424		1,694,719
2022		1,034,275		53,606		328		284,665		258,982		1,631,856
2023		1,057,150		58,565		—		313,475		225,303		1,654,493
2024		1,017,104		58,687		—		342,348		187,655		1,605,794
2025		977,891		47,385		—		308,465		148,861		1,482,602
Thereafter		6,930,640		105,138		—		1,069,187		325,225		8,430,190
Total	$	12,926,808		421,305		5,598		2,816,597		1,671,725		17,842,033

(a) Firm Transportation

The Company has entered into firm transportation agreements with various pipelines in order to facilitate the delivery of its production to market. These contracts commit the Company to transport minimum daily natural gas or NGLs volumes at negotiated rates or pay for any deficiencies at specified reservation fee rates. The amounts in this table are based on the Company’s minimum daily volumes at the reservation fee rate. The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the consolidated financial statements its proportionate share of costs based on its working interest.

(b) Processing, Gathering, and Compression Service Commitments

The Company has entered into various long-term gas processing, gathering and compression service agreements. Certain of these agreements were determined to be leases. The minimum payment obligations under the agreements that are not leases are presented in this column.

The values in the table represent the gross amounts that the Company is committed to pay; however, the Company will record in the consolidated financial statements its proportionate share of costs based on its working interest.

(c) Land Payment Obligations

The Company has entered into various land acquisition agreements. Certain of these agreements contain minimum payment obligations over various terms. The values in the table represent the minimum payments due under these arrangements. None of these agreements were determined to be leases.

(d)Leases, including imputed interest

The Company has obligations under contracts for services provided by drilling rigs and completion fleets, processing, gathering, and compression services agreements, and office and equipment leases. The values in the table represent the gross amounts that we are committed to pay; however, we will record in our financial statements our proportionate share of costs based on our working interests. Refer to Note 12 to the unaudited condensed consolidated financial statements for more information on the Company’s operating and finance leases.