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Leases (Tables)

12 Months Ended

Dec. 31, 2019

For the year ended December 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 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 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.


(4)	Variable lease cost is related to a gathering agreement and is included in oil, gas, and NGL production revenue on the Consolidated Statements of Operations.

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



	As of December 31,
Operating Leases	2019
	(in thousands)
Right-of-use assets ⁽¹⁾	$	9,287
Accumulated amortization ⁽²⁾	(1,142		)
Total right-of-use assets ⁽³⁾	$	8,145
Current lease liabilities ⁽⁴⁾	(1,287		)
Noncurrent lease liabilities ⁽⁵⁾	(13,195		)
Total lease liabilities ⁽³⁾	$	(14,482	)
Weighted average remaining lease term
Operating leases (in years)	7.8
Weighted average discount rate
Operating leases	5.6		%


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


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


(3)	The difference between the right-of-use assets and lease liabilities is 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.


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

(5)

Included in other noncurrent liabilities in the Consolidated Balance Sheets.

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



	As of December 31, 2019
	(in thousands)
2020	$	2,056
2021	2,355
2022	2,044
2023	2,024
2024	2,078
Thereafter	7,577
Total	$	18,134
Less: Interest	(3,652		)
Present value of lease liabilities	$	14,482

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