Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Summary of Accounts Receivable

Accounts receivable is comprised of the following:

	As of June 30, 2019			As of December 31, 2018
	(in thousands)
Oil, gas and NGL sales	$	42,248		$	44,860
Due from joint interest owners	11,293			27,435
Other	900			754
Allowance for doubtful accounts	(1		)	(106		)
Total accounts receivable	$	54,440		$	72,943

Net Capitalized Costs and Associated Accumulated DD&A and Non Cash Impairments

The following table sets forth the net capitalized costs and associated accumulated DD&A and non-cash impairments relating to the Company's oil, natural gas and NGL producing activities:

	As of June 30, 2019			As of December 31, 2018
	(in thousands)
Proved properties	$	670,270		$	663,485
Wells and related equipment and facilities	1,647,456			1,438,092
Support equipment and facilities	90,690			75,392
Materials and supplies	24,480			18,341
Total proved oil and gas properties	$	2,432,896		$	2,195,310
Unproved properties	321,206			328,409
Wells and facilities in progress	147,679			139,799
Total unproved oil and gas properties, excluded from amortization	$	468,885		$	468,208
Accumulated depreciation, depletion, amortization and impairment	(785,345		)	(642,645		)
Total oil and gas properties, net	$	2,116,436		$	2,020,873

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities are comprised of the following:

	As of June 30, 2019		As of December 31, 2018
	(in thousands)
Accrued drilling, completion and facility costs	$	75,984	$	69,830
Accrued lease operating, gathering, transportation and processing expenses	7,398		6,970
Accrued general and administrative expenses	7,326		8,774
Accrued interest payable	6,852		6,758
Accrued merger transaction expenses	—		550
Trade payables	13,757		31,057
Operating lease liability	730		—
Other	7,762		7,440
Total accounts payable and accrued liabilities	$	119,809	$	131,379

Calculation of Basic and Diluted Earnings (Loss) Per Share

The following table sets forth the calculation of basic and diluted income (loss) per share:

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
	(in thousands, except per share amounts)
Net income (loss)	$	(1,910	)	$	(46,906	)	$	(98,139	)	$	(71,843	)
Basic weighted-average common shares outstanding in period	210,377			209,393			210,156			166,731
Diluted weighted-average common shares outstanding in period	210,377			209,393			210,156			166,731
Basic net income (loss) per common share	$	(0.01	)	$	(0.22	)	$	(0.47	)	$	(0.43	)
Diluted net income (loss) per common share	$	(0.01	)	$	(0.22	)	$	(0.47	)	$	(0.43	)