Acquisition	6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]
Acquisition	AcquisitionIn May 2020, we acquired approximately 740 net acres in the North Midway Sunset Field for approximately $5 million. We paid $2 million at closing and the remaining $3 million is recorded in accrued expenses and is due upon the earlier of either a specified triggering event or December 31, 2021. The specified triggering events are either (i) the daily posted price of West Texas Intermediate is at least $45.00 per barrel for thirty consecutive days or (ii) we first produce and sell oil from the property. This property is adjacent to, and extends, our existing producing area and we have identified numerous future drilling locations. We believe additional opportunities exist in other productive reservoirs of this property. We also acquired all existing idle wells on this property.

Acquisition

6 Months Ended

Jun. 30, 2020

AcquisitionIn May 2020, we acquired approximately 740 net acres in the North Midway Sunset Field for approximately $5 million. We paid $2 million at closing and the remaining $3 million is recorded in accrued expenses and is due upon the earlier of either a specified triggering event or December 31, 2021. The specified triggering events are either (i) the daily posted price of West Texas Intermediate is at least $45.00 per barrel for thirty consecutive days or (ii) we first produce and sell oil from the property. This property is adjacent to, and extends, our existing producing area and we have identified numerous future drilling locations. We believe additional opportunities exist in other productive reservoirs of this property. We also acquired all existing idle wells on this property.