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Property Acquisitions and Dispositions (Tables) | 12 Months Ended
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Dec. 31, 2016
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The purchase consideration for the Business Combination was as follows:
(in thousands) | October 11, 2016
Preliminary purchase consideration: |
Cash | $ | 1,186,744 |
Repayment of CRP long-term debt(1) | 189,000 |
Total purchase price consideration | 1,375,744 |
Fair value of non-controlling interest(2) | 184,779 |
Total purchase price consideration and fair value of non-controlling interest | $ | 1,560,523 |
(1) | Represents the additional contribution made by Silver Run to CRP in exchange for units representing common membership interest in CRP ("CRP Common Units"), to repay CRP's outstanding indebtedness at the Closing Date.
(2) | Represents the fair value of the non-controlling interest (NCI) attributable to the Centennial Contributors. NCI is the portion of equity (net assets) in a subsidiary not attributable, directly or indirectly to Silver Run. In a business combination the NCI is recognized at its acquisition date fair value in accordance with ASC 805. The fair value of the NCI represents a 11% membership interest in CRP.
| Predecessor
(in thousands) | June 3, 2016
Cash consideration | $ | 32,979 |
Fair value of assets and liabilities acquired: |
Proved oil and natural gas properties | 15,374 |
Unproved oil and natural gas properties | 18,071 |
Total fair value of oil and natural gas properties acquired | 33,445 |
Revenue Suspense | (400 | )
Asset retirement obligation | (66 | )
Total fair value of net assets acquired | $ | 32,979 |
The Company allocated the final purchase prices to the acquired assets and liabilities based on fair value as of the respective acquisition dates, as summarized in the table below.
| Predecessor
| Acquisition #1 |  | Acquisition #2
(in thousands) | September 1, 2015 |  | September 3, 2015
Cash consideration | $ | 16,006 |  |  | $ | 6,369 |
Fair value of assets and liabilities acquired: |  |  |
Proved oil and natural gas properties | 7,731 |  |  | 6,491 |
Unproved oil and natural gas properties | 8,312 |  |  | — |
Total fair value of oil and natural gas properties acquired | 16,043 |  |  | 6,491 |
Asset retirement obligation | (37 | ) |  | (122 | )
Total fair value of net assets acquired | $ | 16,006 |  |  | $ | 6,369 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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