Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Acquisition and Divestiture Related Expenses

Acquisition and divestiture related expenses for third party transactions are included in general and administrative expenses in the accompanying statements of operations for the periods indicated below (in thousands):

		Successor				Predecessor
For the		For the		Period from		Period from
Year Ended		Year Ended		May 5, 2017		January 1, 2017
December 31,		December 31,		through		through
2019		2018		December 31, 2017		May 4, 2017
$	17,305	$	205	$	609	$	—

Summary of Preliminary Purchase Price Allocation to Identifiable Assets Acquired and Liabilities Assumed

The following table represents the allocation of the total purchase price of Midstates to the identifiable assets acquired and the liabilities assumed based on the fair values as of the acquisition date.

	Purchase Price Allocation
	(In thousands)
Consideration:
Fair value of Midstates common stock issued in the Merger (a)	$	90,150
Fair value of  Midstates warrants issued in the Merger		2
Value of shares to be issued		90,152
Fair value of Legacy Amplify restricted share consideration		832
Fair value of Legacy Amplify PSU consideration		557
Total consideration	$	91,541
Fair value of liabilities assumed:
Current liabilities	$	24,135
Long-term debt		76,559
Long-term asset retirement obligation		9,440
Other long-term liabilities		5,067
Amounts attributable to liabilities assumed	$	115,201
Fair value of assets acquired:
Cash and cash equivalents	$	19,250
Other current assets		17,862
Oil and natural gas properties		149,421
Other property and equipment		1,694
Long-term asset retirement cost		9,440
Other non-current assets		9,075
Amounts attributable to assets acquired	$	206,742
Total identifiable net assets	$	91,541

(a) Based on 20,415,005 Midstates common shares issued at closing at $4.12 per share (closing price as of August 6, 2019).

Summary of Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information for the year ended December 31, 2019 and 2018, respectively, is based on our historical consolidated financial statements adjusted to reflect as if the Merger had occurred on January 1, 2018.

	For the Year Ended
	December 31,
	2019			2018
(Unaudited)	(In thousands, except per unit amounts)
Revenues	$	336,326		$	545,226
Net income (loss)		(22,926	)		146,845
Earnings per share:
Basic	$	(0.78	)	$	3.18
Diluted	$	(0.78	)	$	3.18