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Acquisitions and Dispositions (Tables) | 3 Months Ended
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Mar. 31, 2021
Acquisitions and Dispositions [Abstract] |
Fair Value of Assets and Liabilities Acquired |
|  | February 25, 2021
|  | (in thousands)
Purchase Consideration |  |
Cash | $ | 33,959
Fair value of contingent consideration |  | 4,647
Total purchase consideration | $ | 38,606
|  | February 25, 2021
|  | (in thousands)
Assets acquired: |  |
Wells, platforms and other production facilities | $ | 37,176
Equipment and other |  | 5,568
Value added tax and other receivables |  | 1,234
Abandonment funding |  | 11,781
Accounts receivable - trade |  | 11,220
Other current assets |  | 3,963
Liabilities assumed: |  |
Asset retirement obligations |  | (14,564)
Accrued liabilities and other |  | (10,122)
Bargain purchase gain |  | (7,650)
Total purchase price | $ | 38,606
Pro Forma Results of Acquisition |
| Three Months Ended March 31, |
| 2021 |  | 2020 |
| (in thousands) |
Pro forma (unaudited) |  |  |  |  |  |
Crude oil and natural gas sales | $ | 57,547 |  | $ | 34,820 |
Operating income (loss) |  | 25,025 |  |  | (21,501) |
Net income (loss) |  | 11,736 | (a) |  | (47,155) | (b)
Basic net income (loss) per share: |  |  |  |  |  |
Income (loss) from continuing operations | $ | 0.20 |  | $ | (0.81) |
Loss from discontinued operations, net of tax |  | 0.00 |  |  | 0.00 |
Net income (loss) per share | $ | 0.20 |  | $ | (0.81) |
Basic weighted average shares outstanding |  | 57,636 |  |  | 57,975 |
Diluted net income (loss) per share: |  |  |  |  |  |
Income (loss) from continuing operations | $ | 0.20 |  | $ | (0.81) |
Loss from discontinued operations, net of tax |  | 0.00 |  |  | 0.00 |
Net income (loss) per share | $ | 0.20 |  | $ | (0.81) |
Diluted weighted average shares outstanding |  | 58,461 |  |  | 57,975 |
________________ (a)The pro forma net loss for the three months ended March 31, 2021 excludes nonrecurring pro forma adjustments directly attributable to the Sasol Acquisition, consisting of a bargain purchase gain of $7.7 million and transaction costs of $1.0 million. (b)The pro forma net loss for the three months ended March 31, 2020 includes nonrecurring pro forma adjustments directly attributable to the Sasol Acquisition, consisting of a bargain purchase gain of $7.7 million and transaction costs of $1.0 million.

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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