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LEASES

6 Months Ended

Jun. 30, 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 June 30, 2022 are as follows (in thousands):

​	​	​	​	​	​	​
​	​	Operating Leases		​	Finance Leases
July 2022 - June 2023	​	$	1,280	​	$	26
July 2023 - June 2024	​	​	1,298	​	​	—
July 2024 - June 2025	​	​	1,139	​	​	—
July 2025 - June 2026	​	​	1,013	​	​	—
July 2026 - June 2027	​	​	780	​	​	—
Thereafter	​	​	—	​	​	—
Total payments under lease agreements	​	​	5,510	​	​	26
​	​	​	​	​	​	​
Less imputed interest	​	​	(584)	​	​	—
​	​	​	​	​	​	​
Total lease liabilities	​	$	4,926	​	$	26

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The entire disclosure of information about leases.

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