Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Summary of Accounts Receivable

Accounts receivable is comprised of the following:

	As of September 30, 2019			As of December 31, 2018
	(in thousands)
Oil, gas and NGL sales	$	49,840		$	44,860
Due from joint interest owners	8,879			27,435
Other	709			754
Allowance for doubtful accounts	(1		)	(106		)
Total accounts receivable	$	59,427		$	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 September 30, 2019			As of December 31, 2018
	(in thousands)
Proved properties	$	679,200		$	663,485
Wells and related equipment and facilities	1,786,836			1,438,092
Support equipment and facilities	91,915			75,392
Materials and supplies	23,845			18,341
Total proved oil and gas properties	$	2,581,796		$	2,195,310
Unproved properties	319,265			328,409
Wells and facilities in progress	74,645			139,799
Total unproved oil and gas properties, excluded from amortization	$	393,910		$	468,208
Accumulated depreciation, depletion, amortization and impairment	(868,529		)	(642,645		)
Total oil and gas properties, net	$	2,107,177		$	2,020,873

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities are comprised of the following:

	As of September 30, 2019		As of December 31, 2018
	(in thousands)
Accrued drilling, completion and facility costs	$	42,805	$	69,830
Accrued lease operating, gathering, transportation and processing expenses	9,039		6,970
Accrued general and administrative expenses	7,130		8,774
Accrued interest payable	18,901		6,758
Accrued merger transaction expenses	—		550
Trade payables	3,929		31,057
Operating lease liability	985		—
Other	5,735		7,440
Total accounts payable and accrued liabilities	$	88,524	$	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 September 30,					Nine Months Ended September 30,
	2019		2018			2019			2018
	(in thousands, except per share amounts)
Net income (loss)	$	11,114	$	(29,360	)	$	(87,025	)	$	(101,203	)
Basic weighted-average common shares outstanding in period	210,550		209,502			210,288			181,145
Add dilutive effects of stock options and nonvested equity shares of common stock	387		—			—			—
Diluted weighted-average common shares outstanding in period	210,937		209,502			210,288			181,145
Basic net income (loss) per common share	$	0.05	$	(0.14	)	$	(0.41	)	$	(0.56	)
Diluted net income (loss) per common share	$	0.05	$	(0.14	)	$	(0.41	)	$	(0.56	)