Related parties

12 Months Ended

Dec. 31, 2020


Note 17			Related parties


a.			Helmerich & Payne, Inc.

The former Chairman of the Company's board of directors, whose term on the Company's board of directors ended on May 14, 2020, was on the board of directors of Helmerich & Payne, Inc. ("H&P").

The following table presents the operating lease liabilities related to H&P included in the consolidated balance sheet as of the date presented:



(in thousands)	December 31, 2019

Operating lease liabilities:
Current	$	9,605
Noncurrent	6,907
Total operating lease liabilities(1)	$	16,512

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(1)As of December 31, 2019, the Company had two drilling rig contracts with H&P that were accounted for as long-term operating leases due to the initial term being greater than 12 months, and was capitalized and included in "Operating lease right-of-use-assets" on the consolidated balance sheet. The present value of the future commitment was included in current and noncurrent operating lease liabilities on the consolidated balance sheet. See Note 5 for additional discussion of the Company's significant accounting policies on leases.

The following table presents the capital expenditures for oil and natural gas properties paid to H&P included in the consolidated statements of cash flows for the periods presented:


	Years ended December 31,
(in thousands)	2020		2019		2018
Capital expenditures for oil and natural gas properties(1)	$	18,104	$	18,089	$	3,040

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(1)Amount reflected for the year ended December 31, 2020 is through the date of the former Chairman's expiration of term on the Company's board of directors on May 14, 2020.


b.			Halliburton

Beginning in 2020, the Chairman of the Company's board of directors is on the board of directors of Halliburton Company ("Halliburton"). Halliburton provides drilling and completions services to the Company.

The following table presents the capital expenditures for oil and natural gas properties paid to Halliburton included in the consolidated statement of cash flows for the period presented:


	Year ended December 31,
(in thousands)	2020

Capital expenditures for oil and natural gas properties	$	63,886