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Supplemental Oil and Gas Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Capitalized Costs Relating to Oil and Natural Gas Producing Activities

The total amount of capitalized costs relating to oil and natural gas producing activities and the total amount of related accumulated depreciation, depletion and amortization is as follows at the dates indicated.

	December 31,			December 31,
	2020			2019
	(In thousands)
Evaluated oil and natural gas properties	$	775,167		$	797,005
Support equipment and facilities		142,208			140,023
Accumulated depletion, depreciation, and amortization		(602,861	)		(136,747	)
Total	$	314,514		$	800,281

Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development Activities

Costs incurred in property acquisition, exploration and development activities were as follows for the periods indicated:

	For the Year Ended
	December 31,
	2020			2019
	(In thousands)
Property acquisition costs, proved	$	42		$	150,871
Property acquisition costs, unproved		(49,307	)		7,674
Exploration		—			—
Development		29,543			71,460
Total	$	(19,722	)	$	230,005

Schedule of Product Prices Used for Valuing the Reserves

The weighted-average benchmark product prices used for valuing the reserves are based upon the average of the first-day-of-the-month price for each month within the period January through December of each year presented:

	2020		2019
Oil ($/Bbl):
WTI (1)	$	39.57	$	55.69

NGL ($/Bbl):
WTI (1)	$	39.57	$	55.69

Natural Gas ($/MMbtu):
Henry Hub (2)	$	1.99	$	2.58

(1)

The weighted average WTI price was adjusted by lease for quality, transportation fees, and a regional price differential.

(2)

The weighted average Henry Hub price was adjusted by lease for energy content, compression charges, transportation fees, and regional price differentials.

Schedule of Net Reserves

The following tables set forth estimates of the net reserves for the periods indicated:

	For the Year Ended December 31, 2020
	Oil			Gas			NGLs			Total
	(MBbls)			(MMcf)			(MBbls)			(MBoe)
Proved developed and undeveloped reserves:
Beginning of year		70,772			377,869			29,252			163,002
Extensions and discoveries		291			655			61			461
Production		(3,887	)		(27,473	)		(1,725	)		(10,190	)
Revision of previous estimates		(20,500	)		(76,912	)		(6,104	)		(39,424	)
End of year		46,676			274,139			21,484			113,849

Proved developed reserves:
Beginning of year		53,476			320,731			23,646			130,577
End of year		35,613			252,218			19,009			96,658

Proved undeveloped reserves:
Beginning of year		17,296			57,138			5,606			32,425
End of year		11,063			21,921			2,475			17,191

	For the Year Ended December 31, 2019
	Oil			Gas			NGLs			Total
	(MBbls)			(MMcf)			(MBbls)			(MBoe)
Proved developed and undeveloped reserves:
Beginning of period		69,624			293,959			21,572			140,189
Extensions and discoveries		301			576			44			441
Purchase of minerals in place		17,429			202,409			18,533			69,697
Production		(3,498	)		(26,489	)		(1,343	)		(9,256	)
Revision of previous estimates		(13,084	)		(92,586	)		(9,554	)		(38,069	)
End of period		70,772			377,869			29,252			163,002

Proved developed reserves:
Beginning of period		54,147			232,110			17,324			110,156
End of period		53,476			320,731			23,646			130,577

Proved undeveloped reserves:
Beginning of period		15,477			61,849			4,248			30,033
End of period		17,296			57,138			5,606			32,425

Standardized Measure of Discounted Future Net Cash Flows

The standardized measure of discounted future net cash flows is as follows:

	For the Year Ended
	December 31,
	2020			2019
	(In thousands)
Future cash inflows	$	2,410,260		$	5,146,288
Future production costs (1)		(1,589,945	)		(2,917,262	)
Future development costs (1)		(375,146	)		(567,423	)
Future income tax expense		—			—
Future net cash flows for estimated timing of cash flows		445,169			1,661,603
10% annual discount for estimated timing of cash flows		(147,358	)		(745,042	)
Standardized measure of discounted future net cash flows	$	297,811		$	916,561

(1)

For the year ended December 31, 2020, onshore abandonment costs are included in future production cost and offshore abandonment costs are included in future development costs.

Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves

The following is a summary of the changes in the standardized measure of discounted future net cash flows for the proved oil and natural gas reserves during each of the years in the two year period presented:

	For the Year Ended
	December 31,
	2020			2019
	(In thousands)
Beginning of year	$	916,561		$	1,113,029
Sale of oil and natural gas produced, net of production costs		(47,687	)		(113,545	)
Purchase of minerals in place		—			408,370
Extensions and discoveries		3,687			5,334
Changes in prices and costs		(548,429	)		(623,592	)
Previously estimated development costs incurred		49,144			84,341
Net changes in future development costs		89,997			110,892
Revisions of previous quantities		(150,245	)		(183,300	)
Accretion of discount		91,657			92,998
Change in production rates and other		(106,874	)		22,034
End of year	$	297,811		$	916,561

- Definition

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

+ References + Details

- Definition

Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed.

+ References + Details