Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Summary of Accounts Receivable

Accounts receivable is comprised of the following:

	As of March 31, 2020		As of December 31, 2019
	(in thousands)
Oil, gas and NGL sales	$	34,977	$	50,171
Due from joint interest owners	16,762		9,551
Other	1,877		2,419
Allowance for doubtful accounts	(21)		(21)
Total accounts receivable	$	53,595	$	62,120

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 March 31, 2020		As of December 31, 2019
	(in thousands)
Proved properties	$	720,589	$	725,964
Wells and related equipment and facilities	1,822,838		1,805,136
Support equipment and facilities	99,968		99,540
Materials and supplies	13,907		13,489
Total proved oil and gas properties	$	2,657,302	$	2,644,129
Unproved properties	188,168		265,387
Wells and facilities in progress	127,048		92,406
Total unproved oil and gas properties, excluded from amortization	$	315,216	$	357,793
Accumulated depreciation, depletion, amortization and impairment	(2,200,820)		(958,475)
Total oil and gas properties, net	$	771,698	$	2,043,447

Schedule Of Noncash Impairment Charges

The Company's impairment and abandonment expense for the three months ended March 31, 2020 and 2019 is summarized below:

	Three Months Ended March 31,
	2020		2019
	(in thousands)
Impairment of proved oil and gas properties	$	1,188,566	$	—
Impairment of unproved oil and gas properties	76,298		—
Abandonment expense	562		322
Total impairment and abandonment expense	$	1,265,426	$	322

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities are comprised of the following:

	As of March 31, 2020		As of December 31, 2019
	(in thousands)
Accrued drilling, completion and facility costs	$	51,613	$	25,667
Accrued lease operating, gathering, transportation and processing expenses	6,657		8,046
Accrued general and administrative expenses	5,237		6,612
Accrued interest payable	18,766		6,832
Trade payables	11,502		17,488
Operating lease liability	1,631		1,287
Other	4,847		5,706
Total accounts payable and accrued liabilities	$	100,253	$	71,638

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 March 31,
	2020		2019
	(in thousands, except per share amounts)
Net income (loss)	$	(1,015,639)	$	(96,229)
Basic weighted-average common shares outstanding in period	211,112		209,932
Diluted weighted-average common shares outstanding in period	211,112		209,932
Basic net income (loss) per common share	$	(4.81)	$	(0.46)
Diluted net income (loss) per common share	$	(4.81)	$	(0.46)