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Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
Schedule of Accounts Receivable Accounts receivable is comprised of the following:
As of September 30, 2020As of December 31, 2019
 (in thousands)
Oil, gas and NGL sales$31,743 $50,171 
Due from joint interest owners (1)
10,596 9,551 
Other2,459 2,419 
Allowance for doubtful accounts(722)(21)
Total accounts receivable$44,076 $62,120 

(1)Includes $6.3 million of current accounts receivable associated with one joint interest partner. An additional $10.0 million due from this joint interest partner has been reclassed to long term and included in other noncurrent assets on the Unaudited
Consolidated Balance Sheet. The Company will net the outstanding amounts against certain revenues payable to this joint interest partner.
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, 2020As of December 31, 2019
 (in thousands)
Proved properties$720,735 $725,964 
Wells and related equipment and facilities1,919,297 1,805,136 
Support equipment and facilities105,965 99,540 
Materials and supplies12,487 13,489 
Total proved oil and gas properties$2,758,484 $2,644,129 
Unproved properties 179,492 265,387 
Wells and facilities in progress52,391 92,406 
Total unproved oil and gas properties, excluded from amortization$231,883 $357,793 
Accumulated depreciation, depletion, amortization and impairment(2,248,522)(958,475)
Total oil and gas properties, net$741,845 $2,043,447 
Schedule Of Noncash Impairment Charges
The Company’s impairment and abandonment expense for the three and nine months ended September 30, 2020 and 2019 is summarized below:

Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
(in thousands)
Impairment of proved oil and gas properties (1)
$— $— $1,188,566 $— 
Impairment of unproved oil and gas properties (1)(2)
2,537 — 78,835 — 
Abandonment expense276 1,170 1,648 2,487 
Total impairment and abandonment expense$2,813 $1,170 $1,269,049 $2,487 

(1)Due to a decline in the recoverability of the carrying value of the Company’s oil and gas properties during the nine months ended September 30, 2020, the Company recognized non-cash impairment charges of $1.2 billion associated with proved oil and gas properties and $76.3 million associated with unproved oil and gas properties.
(2)As a result of the Company’s continuous review of its acreage position and future drilling plans, the Company recognized $2.5 million of non-cash impairment associated with unproved oil and gas properties during the three months ended September 30, 2020 associated with certain leases that will expire subsequent to the balance sheet date that the Company does not plan to renew.
Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities are comprised of the following:
As of September 30, 2020As of December 31, 2019
(in thousands)
Accrued drilling, completion and facility costs$6,700 $25,667 
Accrued lease operating, gathering, transportation and processing expenses6,113 8,046 
Accrued general and administrative expenses7,985 6,612 
Accrued interest payable18,739 6,832 
Trade payables3,366 17,488 
Operating lease liability1,955 1,287 
Other2,387 5,706 
Total accounts payable and accrued liabilities$47,245 $71,638 
Calculation of Basic and Diluted Earnings (Loss) Per Share The following table sets forth the calculation of basic and diluted income (loss) per share:
 Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
(in thousands, except per share amounts)
Net income (loss)$(15,805)$11,114 $(1,099,072)$(87,025)
Basic weighted-average common shares outstanding in period (1)
4,246 4,211 4,235 4,206 
Add dilutive effects of stock options and nonvested equity shares of common stock (1)
— 8 — — 
Diluted weighted-average common shares outstanding in period (1)
4,246 4,219 4,235 4,206 
Basic net income (loss) per common share (1)
$(3.72)$2.64 $(259.52)$(20.69)
Diluted net income (loss) per common share (1)
$(3.72)$2.63 $(259.52)$(20.69)

(1)All share and per share information has been retroactively adjusted to reflect a 1-for-50 reverse stock split effective October 30, 2020. See Note 12 for additional information.