Leases Leases (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

At December 31, 2018, the minimum future rental commitments under legacy operating leases having enforceable lease terms in excess of one year are reflected in the table below. Such commitments are reflected at undiscounted values and were not required to be recognized on the Company's balance sheet under legacy U.S. GAAP in effect as of December 31, 2018.



In thousands	Total amount as of December 31, 2018
2019	$	1,535
2020	1,042
2021	833
2022	805
2023	745
Thereafter	6,795
Total obligations as of December 31, 2018	$	11,755

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Minimum future commitments by year for the Company's operating leases as of December 31, 2019 are presented in the table below. Such commitments are reflected at undiscounted values and are reconciled to the discounted present value recognized on the balance sheet.



In thousands	Amount
2020	$	3,999
2021	750
2022	734
2023	667
2024	411
Thereafter	5,755
Total operating lease liabilities, at undiscounted value	$	12,316
Less: Imputed interest	(3,188		)
Total operating lease liabilities, at discounted present value	$	9,128
Less: Current portion of operating lease liabilities	(3,695		)
Operating lease liabilities, net of current portion	$	5,433

Lessee, Operating Lease, Disclosure [Table Text Block]

The Company’s lease liabilities recognized on the balance sheet as a lessee totaled $9.1 million as of December 31, 2019 at discounted present value, which is comprised of the asset classes reflected in the table below. All leases recognized on the Company's balance sheet are classified as operating leases.



In thousands	Amount
Drilling rig commitments	$	3,154
Surface use agreements	4,487
Field equipment	1,164
Other	323
Total	$	9,128

Lease, Cost [Table Text Block]

Additional information for the Company's operating leases is presented below. Lease costs are reflected at gross amounts and primarily represent costs incurred for drilling rigs, most of which are short term contracts that are not recognized as right-of-use assets and lease liabilities on the balance sheet. Variable lease costs primarily represent differences between minimum payment obligations and actual operating day-rate charges incurred by the Company for its long term drilling rig contracts.



In thousands, except weighted average data	Year ended December 31, 2019
Lease costs:
Operating lease costs	$	11,130
Variable lease costs	11,930
Short-term lease costs	176,586
Total lease costs	$	199,646

Other information:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,208
Operating cash flows from operating leases included in lease liabilities	804
Weighted average remaining lease term as of December 31, 2019 (in years)	11.5
Weighted average discount rate as of December 31, 2019	4.9		%