Dispositions |
3 Months Ended |
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Mar. 31, 2020 | |
Business Combinations [Abstract] | |
Dispositions |
(4) DISPOSITIONS We recognized a pretax net gain of $122.1 million on the sale of assets in first quarter 2020 compared to a pretax net loss of $189,000 in first quarter 2019. See discussion below for further details. 2020 Dispositions Pennsylvania. In first quarter 2020, we completed the sale of our shallow legacy assets in Northwest Pennsylvania for proceeds of $1.0 million. Based upon the receipt of approval from state governmental authorities of a change in operatorship during the quarter, we recognized a pretax gain of $122.7 million primarily due to the elimination of the asset retirement obligation associated with these properties. Other. In first quarter 2020, we sold miscellaneous inventory and other assets for proceeds of $59,000, resulting in a pretax loss of $617,000. 2019 Dispositions Other. In first quarter 2019, we sold miscellaneous inventory and other assets for proceeds of $332,000 resulting in a pretax loss of $189,000. |