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Impact of ASC 606 Adoption (Tables)
 3 Months Ended
Mar. 31, 2018
Impact of ASC 606 Adoption  
Impact of adoption on the Company's current period results

 

The impact of adoption on the Company’s current period results is as follows (in thousands):

 

 

 

Three Months Ended March 31, 2018

 

 

 

Under ASC 606

 

Under ASC 605

 

Increase/(Decrease)

 

Revenues :

 

 

 

 

 

 

 

Oil sales

 

$
32,414

 

$
32,424

 

$
(10

)

Natural gas liquid sales

 
11,038

 
11,065

 
(27

)

Natural gas sales

 
8,337

 
11,400

 
(3,063

)

Gathering and transportation

 
57

 
3,070

 
(3,013

)

Lease operating and workover expense

 
14,808

 
14,895

 
(87

)

 

 

 

 

 

 

 

 

Net income

 

$
4,004

 

$
4,004

 

$

—

 

 

 

 

 

 

 

 

 

Retained deficit

 

$
(71,143

)

$
(71,143

)

$

—