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Concentrations of Credit Risk | 12 Months Ended
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Dec. 31, 2019
Risks And Uncertainties [Abstract] |
Concentrations of Credit Risk | 17. Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of demand deposits, temporary cash investments and trade receivables. The Company believes it has placed its demand deposits and temporary cash investments with high credit-quality financial institutions. At December 31, 2019 and 2018, the Company’s demand deposits and temporary cash investments consisted of the following (in thousands):
|  | 2019 |  |  | 2018 |
Deposits in FDIC and SIPC-insured institutions under insurance limits |  | $ | 1,250 |  |  | $ | 750 |
Deposits in FDIC and SIPC-insured institutions over insurance limits |  |  | 179,375 |  |  |  | 229,132 |
Deposits in foreign banks |  |  | 2,309 |  |  |  | 22,698 |
|  |  | 182,934 |  |  |  | 252,580 |
Less outstanding checks and other reconciling items |  |  | (8,749 | ) |  |  | (7,551 | )
Cash and cash equivalents |  | $ | 174,185 |  |  | $ | 245,029 |
Concentrations of credit risk with respect to trade receivables are primarily focused on companies involved in the exploration and development of oil and natural gas properties. The concentration is somewhat mitigated by the diversification of customers for which the Company provides services. As is general industry practice, the Company typically does not require customers to provide collateral. A $5.7 million provision for bad debts was recognized in 2019 with respect to accounts receivable balances that were estimated to be uncollectible. No expense for bad debts was recognized in 2018 and 2017.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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