Office Closing and Exit Costs

12 Months Ended

Dec. 31, 2014

Restructuring And Related Activities [Abstract]

(16) OFFICE CLOSING AND EXIT COSTS

In first quarter 2015, we announced the closing of our Oklahoma City administrative and operational office in order to lower our general and administrative expenses, due in part to lower commodity prices. The properties will be operated from our office in Fort Worth. As part of an ongoing benefit arrangement that was probable of occurring as of the end of the year, 2014 includes $8.4 million of accrued severance and accelerated vesting of SARs, restricted stock and PSUs. Additional costs, including office rent and other employee-related termination costs, related to the closing of this office will be accrued during 2015 as required by GAAP. The following table details the accrued liability as of December 31, 2014 (in thousands):

	2014
Beginning balance	$	—
Accrued termination costs		8,371
Ending balance	$	8,371

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References+ Details