Acquisitions and Divestitures (Tables)

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Fair Value of Net Assets Acquired

The following table sets forth the Company’s preliminary allocation of the purchase price to the assets acquired and liabilities assumed as of the acquisition date.

	Preliminary Purchase Price Allocation
	(In thousands)
Consideration:
Fair value of the Company’s common stock issued	$765,373
Total consideration	$765,373
Liabilities:
Accounts payable	$37,657
Revenues and royalties payable	52,449
Operating lease liabilities - current	29,924
Fair value of derivatives - current	61,015
Other current liabilities	88,627
Long-term debt	1,984,135
Operating lease liabilities - non-current	30,070
Asset retirement obligation	26,151
Fair value of derivatives - non-current	26,960
Other long-term liabilities	17,260
Common stock warrants	10,029
Total liabilities assumed	$2,364,277
Assets:
Accounts receivable, net	$48,479
Fair value of derivatives - current	17,451
Other current assets	11,137
Evaluated oil and natural gas properties	2,133,280
Unevaluated properties	683,366
Other property and equipment	9,614
Fair value of derivatives - non-current	4,518
Deferred tax asset	159,320
Operating lease right-of-use-assets	59,907
Other long term assets	2,578
Total assets acquired	$3,129,650

Business Acquisition, Pro Forma Information

The pro forma consolidated statements of operations data has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the Merger taken place on January 1, 2018 and is not intended to be a projection of future results.

	For the Year Ended
	December 31, 2019
	(In thousands)
Revenues	$1,620,357
Income from operations	614,668
Net income	369,777
Basic earnings per common share	0.89
Diluted earnings per common share	0.89