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Supplemental Oil and Gas Reserve Information (Tables) | 9 Months Ended
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Sep. 30, 2021
Oil and Gas Exploration and Production Industries Disclosures [Abstract] |
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities |
| December 31, 2020
| OAS Historical |  |  |  | Permian Basin Sale |  | Williston Basin Acquisition |  | Pro Forma
Proved Reserves(1) |  |  |  |  |  |  |  |  |
Developed: |  |  |  |  |  |  |  |  |
Oil (MMBbls) | 85.4 |  |  |  | (13.2) |  |  | 41.1 |  | 113.3 |
Natural gas (Bcf) | 262.7 |  |  |  | (20.8) |  |  | 75.0 |  | 316.9 |
NGL (MMBbls)(2) | — |  |  |  |  | — |  |  | 12.8 |  | 12.8 |
Total estimated proved developed reserves (MMBoe) | 129.2 |  |  |  | (16.7) |  |  | 66.4 |  | 178.9 |
Undeveloped: |  |  |  |  |  |  |  |  |
Oil (MMBbls) | 34.3 |  |  |  | (11.0) |  |  | 10.7 |  | 34.0 |
Natural gas (Bcf) | 113.5 |  |  |  | (16.3) |  |  | 9.3 |  | 106.5 |
NGL (MMBbls)(2) | — |  |  |  |  | — |  |  | 1.6 |  | 1.6 |
Total estimated proved undeveloped reserves (MMBoe) | 53.3 |  |  |  | (13.7) |  |  | 13.8 |  | 53.4 |
_______________ (1) The reserve estimates were prepared using SEC pricing, calculated as the unweighted arithmetic average first-day-of-the-month prices for the prior twelve months. For the Company’s historical reserves, including the reserves attributable to the Permian Basin Sale, SEC pricing was $39.54 per Bbl for crude oil and $2.03 per MMBtu for natural gas for the year ended December 31, 2020. For the reserves data provided by QEP attributable to the Williston Basin Acquisition, SEC pricing was $39.57 per Bbl for crude oil and $1.99 per MMBtu for natural gas for the year ended December 31, 2020. These prices were adjusted by location and quality differentials.
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure | The following table presents the Standardized Measure of Discounted Future Net Cash Flows relating to the proved oil and natural gas reserves of the Company, adjusted for the properties sold in the Permian Basin Sale and the properties acquired in the Williston Basin Acquisition on a pro forma combined basis as of December 31, 2020. The Standardized Measure shown below represents estimates only and should not be construed as the current market value of the Company’s estimated oil and natural gas reserves or those estimated oil and natural gas reserves attributable to the properties sold in the Permian Basin Sale and the properties acquired in the Williston Basin Acquisition.
| December 31, 2020
| OAS Historical |  | Permian Basin Sale |  | Williston Basin Acquisition |  | Pro Forma
| (In thousands)
Future cash inflows | $ | 5,197,220 |  |  | $ | (1,010,896) |  |  | $ | 2,062,726 |  |  | $ | 6,249,050 |
Future production costs | (2,792,921) |  |  | 404,546 |  |  | $ | (1,350,604) |  |  | (3,738,979) |
Future development costs | (610,658) |  |  | 177,445 |  |  | $ | (157,014) |  |  | (590,227) |
Future outflows for income tax | (232,849) |  |  | 64,673 |  |  | (10,945) |  |  | (179,121) |
Future net cash flows | 1,560,792 |  |  | (364,232) |  |  | 544,163 |  |  | 1,740,723 |
10% annual discount for estimated timing of cash flows | (611,915) |  |  | 203,962 |  |  | (192,758) |  |  | (600,711) |
Standardized measure of discounted future net cash flows | $ | 948,877 |  |  | $ | (160,270) |  |  | $ | 351,405 |  |  | $ | 1,140,012 |

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- Definition Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Form 20-F -Section Item 18 -Subsection Instruction 2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61884-109447 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61858-109447 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61872-109447 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61831-109447 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61797-109447 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61869-109447 + Details
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- Definition Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Form 20-F -Section Item 18 -Subsection Instruction 2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62476-109447 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62536-109447 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63094-109448 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62424-109447 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62479-109447 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62455-109447 + Details
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