Office Closing and Termination Costs

9 Months Ended

Sep. 30, 2015

Restructuring And Related Activities [Abstract]

Office Closing and Termination Costs

(16) OFFICE CLOSING AND TERMINATION COSTS

In first quarter 2015, we announced the closing of our Oklahoma City administrative and operational office to reduce our general and administrative expenses, due in part to the impact of lower commodity prices on our operations. In fourth quarter 2014, we initially accrued an estimated $8.4 million of termination costs relating to the closure of this office as it was probable of occurring. In early 2015, those plans and personnel involved were finalized which resulted in additional accruals in first nine months 2015 for severance and other personnel costs of $275,000, additional accelerated vesting of stock-based compensation of $948,000 and $3.2 million of building lease costs. Also in first nine months 2015, additional accruals for severance of $1.1 million and stock-based compensation of $772,000 were recorded for personnel reductions in Pennsylvania in order to reduce our lease operating expenses due to the lower commodity price environment. The following summarizes our termination costs for the nine months ended September 30, 2015 and the three months ended December 31, 2014 (in thousands):

		Nine Months Ended September 30, 2015		Three Months Ended December 31, 2014
Termination costs	$	1,414	$	5,372
Building lease		3,156		—
Stock-based compensation		1,720		2,999
	$	6,290	$	8,371

The following details our accrued liability as of September 30, 2015 (in thousands):

		Nine Months Ended September 30, 2015
Beginning balance	$	5,372
Additional accrued termination costs		1,414
Accrued building rent		3,270
Payments		(7,793	)
Ending balance	$	2,263