Asset Acquisition

6 Months Ended

Jun. 30, 2017

Costs Incurred, Acquisition of Oil and Gas Properties [Abstract]

Asset Acquisition

Note 2. Asset Acquisition

On June 30, 2017, we acquired a 23% non-operated working interest in Salt Creek Field in Wyoming for cash consideration of approximately $71.5 million, before customary closing adjustments. The transaction was accounted for as an asset acquisition in accordance with ASU 2017-01. Therefore, the acquired interests were recorded based upon the cash consideration paid, with all value assigned to proved oil and natural gas properties.