Assets Held for Sale and Discontinued Operations

3 Months Ended

Mar. 31, 2019

Discontinued Operations And Disposal Groups [Abstract]

Assets Held for Sale and Discontinued Operations

Note 6—Assets Held for Sale and Discontinued Operations

Assets Held for Sale

As a result of the BRMR Merger, the Company acquired certain assets that met the criteria for assets held for sale at the acquisition date, comprised of the net assets of Magnum Hunter Production, Inc. (“MHP”), a wholly-owned subsidiary of BRMR located primarily in Kentucky and Tennessee.

The following summarizes assets and liabilities held for sale at March 31, 2019:

(in thousands)	March 31, 2019
Accounts receivable	$	1,797
Other current assets		497
Total current assets held for sale	$	2,294
Proved oil and gas properties, net	$	8,270
Other noncurrent assets		244
Total noncurrent assets held for sale	$	8,514
Accounts payable	$	2,583
Accrued liabilities		5,312
Other current liabilities		317
Total current liabilities associated with assets held for sale	$	8,212
Asset retirement obligations	$	6,029
Other liabilities		610
Total noncurrent liabilities associated with assets held for sale	$	6,639

Discontinued Operations

The Company determined that the planned divestiture of MHP met the assets held for sale criteria and the criteria for classification as discontinued operations as of March 31, 2019.  The Company included the results of operations for MHP for the period from March 1, 2019 through March 31, 2019 presented in discontinued operations as follows:

	For the Three Months Ended March 31,
(in thousands)	2019
Revenues	$	949
Depreciation, depletion, amortization and accretion		(52	)
Other operating expenses		(1,079	)
Loss from discontinued operations, net of tax		(182	)
Gain on disposal of discontinued operations, net of tax		—
Loss from discontinued operations, net of tax	$	(182	)

Total operating and investing cash flows of discontinued operations for the period from March 1, 2019 through March 31, 2019 were as follows:

	For the Three Months Ended March 31,
(in thousands)	2019
Net cash provided by operating activities	$	1,046
Net cash provided by investing activities	$	1