Exit and Disposal Costs

12 Months Ended

Dec. 31, 2016

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

Note 14 - Exit and Disposal Costs

2016 Activity. In the third quarter of 2016, the Company conducted a company-wide reduction in workforce and in the fourth quarter of 2016, the Company closed its Billings, Montana regional office and relocated certain employees to the Company’s corporate office in Denver, Colorado or other Company offices. This decision was made in an effort to reduce future costs and better position the Company for efficient growth in response to prolonged commodity price weakness. The Company expects to incur approximately $7.6 million of total exit and disposal costs related to termination benefits, relocation of certain employees, and other related matters, excluding lease expenses discussed below, all of which are included in general and administrative expense in the accompanying statements of operations. The Company incurred $5.1 million of exit and disposal costs during the year ended December 31, 2016, and expects to incur the remaining costs in early 2017. Upon closing the office in Billings, Montana, the Company paid $3.2 million to the lessor to terminate the lease.

2015 Activity. In conjunction with its Mid-Continent divestitures in 2015, the Company closed its Tulsa, Oklahoma regional office and incurred $9.3 million of exit and disposal costs, excluding the lease expenses discussed below, all of which were included in general and administrative expense in the accompanying statements of operations for the year ended December 31, 2015. The Company subsequently subleased its space for a portion of the remaining lease term. As of December 31, 2016, the Company is obligated to pay lease costs of approximately $3.8 million, net of expected income from subleased office space, which will be expensed over the remaining duration of the lease, which expires in 2022.