Note 4 - Acquisition and Divestitures of Properties

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

 

4.

Acquisitions and Divestitures of Properties

During the year ended

December 31, 2018,

through multiple transactions, the Company acquired approximately

2,721

net mineral acres of additional leasehold and working interests in its Permian Basin region for an aggregate purchase price of 

$40.4

 million, net of post-closing adjustments. These acquisitions were accounted for as asset acquisitions. Acquisition cost of approximately

$21,000

were capitalized in connection with these transactions.

During

2018,

the Company divested of various non-core properties for net proceeds of approximately

$3.3

million.