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Subsequent Events
12 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
COVID-19 and Commodity Prices
On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus (“COVID-19”) and the risks to the international community as the virus spreads globally beyond its point of origin.  In March 2020, the WHO classified the COVID-19 as a pandemic, based on the rapid increase in exposure globally.  In addition, in March 2020, members of OPEC failed to agree on production levels which is expected to cause an increased supply and has led to a substantial decrease in oil prices and an increasingly volatile market.
Subsequent to December 31, 2019 the price of both oil and gas has decreased primarily as a result of oil demand concerns due to the economic impacts of the COVID-19 virus and anticipated increases in supply from Russia and OPEC, particularly Saudi Arabia. Declines in oil and natural gas prices affect the Company's liquidity to the extent that the Company's commodity hedges do not protect its cash flows from such price declines.  Additionally, if oil or natural gas prices remain depressed or continue to decline the Company may be required to record oil and gas property write-downs. 
Consumer demand has decreased since the spread of the COVID-19 outbreak and new travel restrictions placed by governments in an effort to curtail the spread of the coronavirus.  The full impact of the coronavirus and the decrease in oil prices continue to evolve as of the date of this report. As such, it is uncertain as to the full magnitude that they will have on the Company’s financial condition, liquidity and future results of operations. Management is actively monitoring the global situation and the impact or adverse effect on the Company’s results of future operations, financial position, and liquidity in fiscal year 2020. Due to the recent oil price volatility, the Company recently reduced its 2020 capital spending program by approximately 25% and will continue to evaluate going forward as conditions warrant.
Gonzales County AMI
In February 2020, the Company announced that it had entered into a Joint Development Agreement (the "JDA") in Gonzales County with one of the largest producers in the Eagle Ford which encompass an Area of Mutual Interest (the "AMI") totaling approximately 15,000 acres.
The agreement calls for Lonestar to operate a minimum of three to four Eagle Ford Shale wells annually on behalf of the two companies through 2022 that are intended to hold-by-production approximately 6,000 gross acres within the AMI. The agreement gives Lonestar's partner the option to participate in each well with a 50% working interest or to participate via a carried working interest that ranges from approximately 9 to 17%, depending on location.
Preferred Stock Dividend
On March 16, 2020, the Company approved a dividend with respect to the Company’s Series A-1 Preferred Stock. Chambers, as the holder of A-1 Preferred Stock as of March 16, 2020, received an aggregate of 2,257 additional shares of A-1 Preferred Stock as a dividend for its A-1 Preferred Stock on March 31, 2020.