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Acquisitions | 9 Months Ended
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Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract] |
Acquisitions | Acquisitions Williston Basin Acquisition. On May 3, 2021, the Company entered into a purchase and sale agreement with QEP Energy Company (“QEP”), a wholly-owned subsidiary of Diamondback Energy, Inc., to acquire approximately 95,000 net acres in the Williston Basin, effective April 1, 2021, for an aggregate purchase price of $745.0 million, subject to customary purchase price adjustments (the “Williston Basin Acquisition”). The adjusted purchase price was $585.8 million, comprised of a deposit of $74.5 million paid on May 3, 2021 and $511.3 million paid at closing on October 21, 2021. The adjusted purchase price included customary purchase price adjustments, primarily related to the net cash flows from the effective date to the closing date. The Company funded the Williston Basin Acquisition with cash on hand, including proceeds from the Permian Basin Sale (defined in Note 10 – Divestitures) and the Oasis Senior Notes (defined in Note 11 – Long-Term Debt). The Company is currently evaluating whether the Williston Basin Acquisition qualifies as a business combination or asset acquisition. The Company has engaged a third party valuation specialist and expects to complete the accounting in the fourth quarter of 2021.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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