Acquisitions and Dispositions Acquisitions and Dispostions

3 Months Ended

Mar. 31, 2020

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, $0.1 million and $1.3 million was paid during the three months ended March 31, 2020 and 2019, respectively. The remaining obligation under this contract is $2.2 million and is carried in the accompanying condensed consolidated balance sheet current liability in “Accounts payable and accrued liabilities” as of March 31, 2020.

There were no material acquisitions or dispositions of developed properties during the three months ended March 31, 2020.