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Leases (Tables) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Lease Cost on Consolidated Statement of Operations |
|  | Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019
Lease cost: |  | (in thousands)
Operating lease cost |  | $ | 4,820 |  | $ | 12,154
Short-term lease cost |  |  | 166 |  |  | 570
Variable lease cost |  |  | 1,652 |  |  | 4,390
Total lease expense |  |  | 6,638 |  |  | 17,114
Lease costs capitalized |  |  | 99 |  |  | 99
Total lease costs |  | $ | 6,737 |  | $ | 17,213
Other information: |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows to operating leases |  |  |  |  | $ | 13,364
Weighted-average remaining lease term |  |  |  |  |  | 2.5 years
Weighted-average discount rate |  |  |  |  |  | 6.16%
Components of Lease Costs |
|  | Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019
|  | (in thousands)
Production expense |  | $ | 1,979 |  | $ | 5,202
General and administrative expense |  |  | 49 |  |  | 147
Lease costs billed to the joint venture owners |  |  | 4,610 |  |  | 11,765
Total lease expense |  |  | 6,638 |  |  | 17,114
Lease costs capitalized |  |  | 99 |  |  | 99
Total lease costs |  | $ | 6,737 |  | $ | 17,213
Schedule of Future Maturities of Operating Lease Liabilities |
|  | Lease Obligation
Year |  | (in thousands)
2019 |  | $ | 3,604
2020 |  |  | 14,066
2021 |  |  | 13,310
2022 |  |  | 9,304
2023 |  |  | —
|  |  | 40,284
Less: imputed interest |  |  | 3,455
Total lease liabilities |  | $ | 36,829
Operating Lease Obligations for Rentals |
(in thousands) |  | Gross Obligation |  | VAALCO, Net
Year |  |  |  |  |  |
2019 |  | $ | 1,110 |  | $ | 627
2020 |  |  | 693 |  |  | 450
2021 |  |  | — |  |  | —
2022 |  |  | — |  |  | —
2023 |  |  | — |  |  | —
Total |  | $ | 1,803 |  | $ | 1,077

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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