COMMIMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Weighted Average Lease Term and Discount Rate Related to Leases

The following table represents the Company’s weighted average lease term and discount rate as of December 31, 2019:

	Operating Leases
Weighted average remaining lease term	2.7 years
Weighted average discount rate	4.2	%

Lessee, Operating Lease, Liability, Maturity

The undiscounted future minimum lease payments reconciled to the carrying value of the lease liabilities as of December 31, 2019 were as follows:

Net Minimum Commitments	Operating Leases(1)			Finance Lease(2)
	(In thousands)
2020	$	652		$	9,800
2021	622			—
2022	445			—
2023	—			—
2024	—			—
Thereafter	—			—
Total future minimum lease payments	1,719			9,800
Less: imputed interest	(88		)	(33		)
Total lease liabilities	1,631			9,767
Current portion	602			9,767
Non-current portion	$	1,029		$	—

(1) Amounts are primarily associated with the Lease Agreement entered into with Apache relating to the use of certain office buildings, warehouse, and storage facilities as described in Note 3—Transactions with Affiliates.

(2)

Amounts represent the Company’s finance lease obligation entered into during the first quarter of 2019 related to physical power generators being leased on a one-year term with the right to purchase. This lease expired in January 2020 with a weighted average discount rate of 4.2 percent. Subsequent to the expiration of the lease, the Company exercised its right to purchase the generators.

Finance Lease, Liability, Maturity

The undiscounted future minimum lease payments reconciled to the carrying value of the lease liabilities as of December 31, 2019 were as follows:

Net Minimum Commitments	Operating Leases(1)			Finance Lease(2)
	(In thousands)
2020	$	652		$	9,800
2021	622			—
2022	445			—
2023	—			—
2024	—			—
Thereafter	—			—
Total future minimum lease payments	1,719			9,800
Less: imputed interest	(88		)	(33		)
Total lease liabilities	1,631			9,767
Current portion	602			9,767
Non-current portion	$	1,029		$	—

(1) Amounts are primarily associated with the Lease Agreement entered into with Apache relating to the use of certain office buildings, warehouse, and storage facilities as described in Note 3—Transactions with Affiliates.

(2)

Amounts represent the Company’s finance lease obligation entered into during the first quarter of 2019 related to physical power generators being leased on a one-year term with the right to purchase. This lease expired in January 2020 with a weighted average discount rate of 4.2 percent. Subsequent to the expiration of the lease, the Company exercised its right to purchase the generators.