Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Supplemental cash flow information related to leases

The following table shows supplemental cash flow information related to leases for the six months of June 30, 2019:

	Amount
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,616
Financing cash flows for finance leases	1,980
Lease liabilities recognized in exchange for new operating lease right of use assets	5

Schedule of lease assets and liabilities

The following table shows information about our lease assets and liabilities included in our Unaudited Condensed Consolidated Balance Sheet as of June 30, 2019:

	Classification on the Consolidated Balance Sheet	June 30, 2019
		(In thousands)
Assets
Operating right of use assets	Right of use assets	$	8,302
Finance right of use assets	Property, plant, and equipment, net	18,416
Total right of use assets		$	26,718
Liabilities
Current liabilities:
Operating lease liabilities	Current operating lease liabilities	$	4,519
Finance lease liabilities	Current portion of other long-term liabilities	4,081
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities	3,556
Finance lease liabilities	Other long-term liabilities	5,319
Total lease liabilities		$	17,475

Schedule of lease costs

The following table shows certain information related to the lease costs for our finance and operating leases for the three and six months ended June 30, 2019:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2019		2019
	(In thousands)
Components of total lease cost:
Amortization of finance leased assets	$	995	$	1,980
Interest on finance lease liabilities	100		211
Operating lease cost	1,052		1,651
Short-term lease cost (1)	12,038		22,012
Variable lease cost	84		190
Total lease cost	$	14,269	$	26,044

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1.Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $9.0 million and $14.7 million, respectively.

Schedule of weighted average discount rate for leases

The following table shows certain information related to the weighted average remaining lease terms and the weighted average discount rates for our operating and finance leases:

	Weighted Average Remaining Lease Term	Weighted Average Discount Rate (1)
	(In years)
Operating leases	2.2	6.34%
Finance leases	2.2	4.00%

_______________________

1.Our weighted average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease.

Operating leases

The following table sets forth the maturity of our operating lease liabilities as of June 30, 2019:

	Amount
	(In thousands)
Ending July 1,
2020	$	4,902
2021	2,642
2022	839
2023	196
2024	12
2025 and beyond	81
Total future payments	8,672
Less: Interest	597
Present value of future minimum operating lease payments	8,075
Less: Current portion	4,519
Total long-term operating lease payments	$	3,556

Finance leases

The following table sets forth the maturity of our finance lease liabilities as of June 30, 2019:

	Amount
Ending July 1,	(In thousands)
2020	$	6,168
2021	6,672
2022	180
Total future payments	13,020
Less payments related to:
Maintenance	3,196
Interest	424
Present value of future minimum finance lease payments	9,400
Less: Current portion	4,081
Total long-term finance lease payments	$	5,319