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Segment Information and Major Customers (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information by Major Customers

The Company sells its oil and natural gas and liquids production to a number of direct purchasers under direct contracts or through other operators under joint operating agreements. Listed below are the purchasers of the Company’s production which represented more than 10% of the Company’s sales in the year 2019.

Oil:
Apache Corporation			53.98	%
Plains All American Inc.			15.88	%
Natural gas and liquids:
Apache Corporation			39.09	%
Targa Pipeline Mid-Continent West Tex, LLC			12.50	%

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- Definition

Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.

+ References

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