Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of Accounts Receivable

Accounts receivable is comprised of the following:

 

	As of December 31,
	2019			2018
	(in thousands)
Accrued oil, gas and NGL sales	$	50,171		$	44,860
Due from joint interest owners	9,551			27,435
Other	2,419			754
Allowance for doubtful accounts	(21		)	(106		)
Total accounts receivable	$	62,120		$	72,943

Schedule of Net Capitalized Costs

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 December 31,
	2019			2018
	(in thousands)
Proved properties	$	725,964		$	663,485
Wells and related equipment and facilities	1,805,136			1,438,092
Support equipment and facilities	99,540			75,392
Materials and supplies	13,489			18,341
Total proved oil and gas properties	$	2,644,129		$	2,195,310
Unproved properties	265,387			328,409
Wells and facilities in progress	92,406			139,799
Total unproved oil and gas properties, excluded from amortization	$	357,793		$	468,208
Accumulated depreciation, depletion, amortization and impairment	(958,475		)	(642,645		)
Total oil and gas properties, net	$	2,043,447		$	2,020,873

Schedule of Accounts Payable

Accounts payable and accrued liabilities are comprised of the following:

	As of December 31,
	2019		2018
	(in thousands)
Accrued drilling, completion and facility costs	$	25,667	$	69,830
Accrued lease operating, gathering, transportation and processing expenses	8,046		6,970
Accrued general and administrative expenses	6,612		8,774
Accrued interest payable	6,832		6,758
Accrued merger transaction expenses	—		550
Trade payables	17,488		31,057
Operating lease liability	1,287		—
Other	5,706		7,440
Total accounts payable and accrued liabilities	$	71,638	$	131,379

Schedule of Earnings Per Share, Basic and Diluted

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

	Year Ended December 31,
	2019			2018		2017
	(in thousands, except per share amounts)
Net income (loss)	$	(134,830	)	$	121,220	$	(138,225	)
Basic weighted-average common shares outstanding in period	210,392			188,299		76,859
Add dilutive effects of stock options and nonvested equity shares of common stock	—			942		—
Diluted weighted-average common shares outstanding in period	210,392			189,241		76,859
Basic net income (loss) per common share	$	(0.64	)	$	0.64	$	(1.80	)
Diluted net income (loss) per common share	$	(0.64	)	$	0.64	$	(1.80	)