NOTE 13 - RELATED PARTY TRANSACTIONS

As of March 31, 2020 and December 31, 2019, the Company was engaged in the following transactions with certain related parties:



		As of March 31,			As of December 31,
Related Party	Transactions	2020			2019
		(In thousands)
Värde Partners, Inc. (1)	Payable due for revenue associated with VPD's net proportionate share of production revenue	$	—		$	(157	)
	Receivable balance outstanding for operating costs in excess of production revenue associated with VPD's proportionate share of producing wells	73			—
	Payable to WLWI for net proportionate share of production revenue	(1,235		)	(526		)
	Payable to WLR for net proportionate share of production revenue	(187		)	(161		)
	Asset disposition to WLWI accounted for as a financing arrangement (see footnote 12)	(23,768		)	(23,768		)
	Asset disposition to WLR accounted for as a financing arrangement (see footnote 12)	(13,060		)	(13,060		)
	Total:	$	(38,177	)	$	(37,672	)

⁽¹⁾Värde is a major stockholder of the Company, and as of April 21, 2020, became a lender under out Revolving Credit Agreement (see Note 11 - Indebtedness). Värde Parties are holders of preferred shares outstanding (see Note 14 - Preferred Stock).

On April 21, 2020, Värde Investment Partners, L.P., an affiliate of Värde Partners, Inc., became a lender under our Revolving Credit Agreement by acquiring, from a prior lender, loans and commitments under the Revolving Credit Agreement in the principal amount of approximately $25.7 million. The loans and commitments acquired by Värde Investment Partners, L.P. are subject to certain subordination provisions set forth in the Revolving Credit Agreement, as amended by the Fourteenth Amendment thereto dated April 21, 2020. For additional information regarding our Revolving Credit Agreement, as amended (see Note 11 - Indebtedness).

Under two agreements entered into with WLR and a non-operated working interest in newly developed assets to WLWI. For the three months ended March 31, 2020, WLR’s proportionate share of revenue of $0.2 million, and WLWI's net revenue (revenue less production costs) of $1.4 million are both included in interest expense on the Company’s condensed consolidated statements of operations.

Certain investment funds and entities affiliated with Värde Partners, Inc. are parties to the RSA. See Note 2 - Voluntary Petitions under Chapter 11 of the Bankruptcy Code for further information about the terms of the RSA and the transactions contemplated thereby.