Recent Transactions (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Development Costs and Working Interest Structure

Development Costs and Working Interest (“WI”) Structure



	Counterparty	SandRidge
Development Costs	90% of Costs	10% of Costs
Initial Working Interest	80% of WI	20% of WI
Reversion If Counterparty Achieves 10% IRR	35% of WI	65% of WI
Reversion If Counterparty Achieves 15% IRR	11% of WI	89% of WI

Costs incurred in oil and natural gas property acquisition, exploration and development activities which have been capitalized are summarized as follows (in thousands):



	Successor				Predecessor
	Year Ended December 31, 2017		Period from October 2, 2016 through December 31, 2016		Period from January 1, 2016 through October 1, 2016		Year Ended December 31, 2015
Acquisitions of properties
Proved	$	7,092	$	5,142	$	3,897	$	35,376
Unproved	91,139		5,491		1,899		210,065
Exploration(1)	8,850		—		1,234		29,297
Development	187,264		27,429		149,924		571,562
Total cost incurred	$	294,345	$	38,062	$	156,954	$	846,300

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(1)	Includes 3-D seismic costs of $7.1 million for the year ended December 31, 2015.