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Dispositions
6 Months Ended
Jun. 30, 2021
Business Combinations [Abstract]  
Dispositions

(4) DISPOSITIONS

We recognized a pretax net gain of $2.5 million on the sale of assets in second quarter 2021 compared to a pretax net loss of $426,000 in second quarter 2020 and a pretax net gain of $646,000 in first six months 2021 compared to a pretax net gain of $121.7 million in first six months 2020. See discussion below for further details.

2021 Dispositions

North Louisiana. In second quarter 2021, we recorded an additional gain on the sale of our North Louisiana assets, which closed in third quarter 2020, of $2.4 million, which is primarily related to final closing adjustments. In first quarter 2021, we recorded an additional loss on the sale of these North Louisiana assets of $1.9 million generally related to the settlement of a royalty underpayment claim related to these assets.

2020 Dispositions

Pennsylvania. In first six months 2020, we completed the sale of our shallow legacy assets in northwestern Pennsylvania for proceeds of $1.0 million. Based upon the receipt of approval from state governmental authorities of a change in operatorship during first quarter, we recognized a pretax gain of $122.5 million primarily due to the elimination of the asset retirement obligation associated with these properties.