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LEASES

3 Months Ended

Mar. 31, 2022

LEASES

LEASES

6. LEASES

The Company leases certain vehicles, seismic recording equipment, real property and office equipment under lease agreements. The Company evaluates each lease to determine its appropriate classification as an operating lease or finance lease for financial reporting purposes. The majority of our operating leases are non-cancelable operating leases for office and shop space in Midland, Plano, Houston, Oklahoma City and Calgary, Alberta. Although we renewed our Plano office lease in the first quarter of 2022, there have been no material changes to our leases since the Company’s most recent Annual Report on Form 10-K that was filed with the SEC on March 18, 2022.

Maturities of lease liabilities as of March 31, 2022 are as follows (in thousands):

​	​	​	​	​	​	​
​	​	Operating Leases		​	Finance Leases
April 2022 - March 2023	​	$	1,268	​	$	37
April 2023 - March 2024	​	​	1,298	​	​	—
April 2024 - March 2025	​	​	1,220	​	​	—
April 2025 - March 2026	​	​	1,007	​	​	—
April 2026 - March 2027	​	​	1,025	​	​	—
Thereafter	​	​	21	​	​	—
Total payments under lease agreements	​	​	5,839	​	​	37
​	​	​	​	​	​	​
Less imputed interest	​	​	(651)	​	​	(1)
​	​	​	​	​	​	​
Total lease liabilities	​	$	5,188	​	$	36

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The entire disclosure of information about leases.

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