Acquisitions and Dispositions Acquisitions and Dispostions

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Acquisitions and Dispositions

(7)           Acquisitions and Dispositions

Effective December 22, 2017, the Company closed a purchase and sale contract to sell the Company's wellbores and facilities in the Bay De Chene field and recorded a $16.3 million obligation related to the funding of certain plugging and abandonment costs. Of the $16.3 million original obligation, $4.4 million and $7.0 million was paid during the nine months ended September 30, 2019 and 2018, respectively. The remaining obligation under this contract is $3.1 million and is carried in the accompanying condensed consolidated balance sheet current liability in “Accounts payable and accrued liabilities” as of September 30, 2019.

There were no material acquisitions or dispositions of developed properties during the three and nine months ended September 30, 2019.