Office Closing and Termination Costs

3 Months Ended

Mar. 31, 2015

Restructuring And Related Activities [Abstract]

(16) OFFICE CLOSING AND TERMINATION COSTS

In first quarter 2015, we announced the closing of our Oklahoma City administrative and operational office to reduce our general and administrative expenses, due in part to the impact of lower commodity prices on our operations. In the year ended December 31, 2014, we accrued an estimated $8.4 million relating to the closure of this office. In first quarter 2015, those plans and personnel involved were finalized which resulted in additional accruals for severance and other costs for personnel involved of $275,000, additional accelerated vesting of stock-based compensation of $608,000 and $3.2 million of building lease costs. Also in first quarter 2015, additional accruals for severance of $1.2 million and stock-based compensation of $680,000 was recorded for additional expected personnel reductions in order to reduce our lease operating expenses due to the lower commodity price environment. The following summarizes our termination costs (in thousands):

		Three Months Ended March 31, 2015		Year Ended December 31, 2014
Termination costs	$	1,431	$	5,372
Building lease		3,232		—
Stock-based compensation		1,287		2,999
	$	5,950	$	8,371

The following details our accrued liability as of March 31, 2015 (in thousands):

		Three Months Ended March 31, 2015
Beginning balance	$	5,372
Additional accrued termination costs		1,431
Accrued building rent		3,232
Payments		(1,674	)
Ending balance	$	8,361

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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