Leases (Tables)

3 Months Ended

Mar. 31, 2019

For the three months ended March 31, 2019, lease cost was as follows:


(1)	Operating lease cost was primarily included in general and administrative expense or lease operating expense on the Unaudited Consolidated Statements of Operations.


(2)	Short-term lease cost primarily includes leases for drilling rigs, which were capitalized to property, plant and equipment on the Unaudited Consolidated Balance Sheets.


(3)	A portion of the operating lease cost and a majority of the short-term lease cost represent gross amounts that the Company was financially committed to pay. However, the Company recorded in the financial statements its proportionate share based on the Company's working interest, which varies from property to property.

Supplemental balance sheet information related to leases as of March 31, 2019, was as follows:



Operating Leases	As of March 31, 2019
	(in thousands)
Right-of-use assets ⁽¹⁾	$	9,255
Accumulated amortization ⁽²⁾	(352		)
Total right-of-use assets ⁽⁵⁾	$	8,903
Current lease liabilities ⁽³⁾	(517		)
Noncurrent lease liabilities ⁽⁴⁾	(14,117		)
Total lease liabilities ⁽⁵⁾	$	(14,634	)
Weighted average remaining lease term
Operating leases (in years)	8.4
Weighted average discount rate
Operating leases	5.6		%


(1)	Included in furniture, equipment and other in the Unaudited Consolidated Balance Sheets.


(2)	Included in accumulated depreciation, depletion, amortization and impairment in the Unaudited Consolidated Balance Sheets.


(3)	Included in accounts payable and accrued liabilities in the Unaudited Consolidated Balance Sheets.


(4)	Included in other noncurrent liabilities in the Unaudited Consolidated Balance Sheets.


(5)	The difference between the right-of-use assets and total lease liabilities was primarily related to lease incentives and deferred rent balances, which were required to be netted against the right-of-use assets as of the implementation date of January 1, 2019.

Maturities of lease liabilities as of March 31, 2019 were as follows:



	As of March 31, 2019
	(in thousands)
2019	$	1,026
2020	1,938
2021	2,230
2022	1,992
2023	2,024
Thereafter	9,654
Total	$	18,864
Less: Interest	(4,230		)
Present value of lease liabilities	$	14,634

Minimum future contractual payments for operating leases under the scope of ASC 840 as of December 31, 2018 were as follows: