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ACQUISITIONS AND DIVESTITURES
3 Months Ended
Mar. 31, 2020
Business Combinations and Divestitures [Abstract]  
ACQUISITIONS AND DIVESTITURES
NOTE 5 - ACQUISITIONS AND DIVESTITURES

Divestitures During 2020

On February 28, 2020, the Company closed on the sale of approximately 1,185 undeveloped net acres in Lea County, New Mexico, for net cash proceeds of approximately $24.1 million, subject to customary purchase price adjustments (the “Marlin Disposition”). The proceeds were used to satisfy a substantial portion of the then-existing borrowing base deficiency, $17.3 million.