Leases (Tables)

9 Months Ended

Jun. 30, 2020

Leases [Abstract]

Components of Operating Lease Costs

The following table summarizes the components of the Company’s total operating lease costs (in thousands):

	Three Months Ended June 30, 2020		Nine Months Ended June 30, 2020
Operating Lease Expense	$	956	$	2,872
Variable Lease Expense (1)	108		380
Short-Term Lease Expense (2)	46		186
Sublease Income	(41)		(202)
Total Lease Expense	$	1,069	$	3,236
Short-Term Lease Costs Recorded to Property, Plant and Equipment (3)	$	3,174	$	17,463

⁽¹⁾Variable lease payments that are not dependent on an index or rate are not included in the lease liability.

⁽²⁾Short-term lease costs exclude expenses related to leases with a lease term of one month or less.

(3)Short-term lease costs relating to drilling rig leases that are capitalized as part of oil and natural gas properties under full cost pool accounting.

Balance Sheet Information Related to Operating Leases

The following amounts related to operating leases were recorded on the Company’s Consolidated Balance Sheet (in thousands):

	At June 30, 2020
Assets:
Deferred Charges	$	17,504
Liabilities:
Other Accruals and Current Liabilities	$	3,116
Other Deferred Credits	$	14,298

Schedule of Operating Lease Liability Maturities

The following schedule of operating lease liability maturities summarizes the undiscounted lease payments owed by the Company to lessors pursuant to contractual agreements in effect as of June 30, 2020 (in thousands):

	At June 30, 2020
2020 (remaining 3 months)	$	843
2021	2,900
2022	2,278
2023	2,270
2024	2,237
Thereafter	9,717
Total Lease Payments	20,245
Less: Interest	(2,831)
Total Lease Liability	$	17,414

Schedule of Future Minimum Operating Lease Payments

The future minimum operating lease payments as of September 30, 2019, as reported in the Company's 2019 Form 10-K, under the prior authoritative guidance are as follows (in thousands):

	At September 30, 2019
2020 (1)	$	12,356
2021	2,813
2022	2,264
2023	2,270
2024	2,237
Thereafter	9,717
Total Operating Lease Obligations	$	31,657

⁽¹⁾The future minimum operating lease payment amount for 2020 includes short-term leases, including drilling rigs, that are not included in the schedule of operating lease liability maturities above under the new authoritative guidance.