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Acquisitions, Divestitures, and Assets Held for Sale | 12 Months Ended
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Dec. 31, 2020
Acquisitions, Divestitures, and Assets Held for Sale Disclosure [Abstract] |
Acquisitions, Divestitures, and Assets Held for Sale | Note 3 – Acquisitions, Divestitures, and Assets Held for Sale 2020 Acquisition Activity During the third quarter of 2020, the Company completed a non-monetary acreage trade of primarily undeveloped properties located in Upton County, Texas, resulting in the exchange of approximately 535 net acres, with $6.5 million of carrying value attributed to the properties transferred by the Company. This trade was recorded at carryover basis with no gain or loss recognized. During the year ended December 31, 2020, the Company acquired approximately 380 net acres of proved and unproved properties located in Martin County, Texas, in two separate transactions which closed in 2020. Combined total cash consideration paid by the Company was $7.9 million. 2019 Acquisition Activity During 2019, the Company completed several non-monetary acreage trades of primarily undeveloped properties located in Howard, Martin, and Midland Counties, Texas, resulting in the exchange of approximately 2,200 net acres, with $73.4 million of carrying value attributed to the properties transferred by the Company. These trades were recorded at carryover basis with no gain or loss recognized. 2018 Acquisition Activity During the year ended December 31, 2018, the Company acquired approximately 1,030 net acres of primarily unproved properties located in Howard and Martin Counties, Texas, in two separate transactions which closed in 2018. Combined total cash consideration paid by the Company was $33.3 million. Under authoritative accounting guidance, these transactions were both individually considered to be asset acquisitions. Therefore, the properties were recorded based on the fair value of the total consideration transferred on the acquisition date and the transaction costs were capitalized as a component of the cost of the assets acquired. During the third quarter of 2018, the Company completed two non-monetary acreage trades of primarily undeveloped properties located in Howard and Martin Counties, Texas, which resulted in the exchange of approximately 2,650 net acres, with $95.1 million of carrying value attributed to the properties transferred by the Company. These trades were recorded at carryover basis with no gain or loss recognized. 2018 Divestiture Activity PRB Divestiture. On March 26, 2018, the Company completed the PRB Divestiture, divesting of approximately 112,000 net acres for total cash received at closing, net of costs (“net divestiture proceeds”), of $492.2 million, and recorded a final net gain of $410.6 million for the year ended December 31, 2018. Divide County Divestiture and Halff East Divestiture. During the second quarter of 2018, the Company completed the Divide County Divestiture and the Halff East Divestiture, for combined net divestiture proceeds of $252.2 million, and recorded a combined final net gain of $15.4 million for the year ended December 31, 2018. The Divide County Divestiture was considered a disposal of a significant asset group. The loss before income taxes from the Divide County, North Dakota assets sold for the year ended December 31, 2018, was $29.0 million. Loss before income taxes reflects oil, gas, and NGL production revenue, less oil, gas, and NGL production expense, depletion, depreciation, amortization, and asset retirement obligation liability accretion expense, impairment expense, and net loss on divestiture activity. The Company determined that executed asset sales in 2018 did not qualify for discontinued operations accounting under financial statement presentation authoritative guidance.

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- Definition The entire disclosure of activity related to acquisitions, divestitures, and assets held for sale. [Text Block] + References No definition available. + Details
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