In we completed the purchase of Exxon Mobil Corporation's ("Exxon") interests in and operatorship of oil and gas producing properties in the eastern region of the Gulf of Mexico offshore Alabama and related onshore and offshore facilities and pipelines, (the "Mobile Bay Properties").  After taking into account customary closing adjustments and an effective date of cash consideration paid by us was  million which includes expenses related to the acquisition.  We also assumed the related ARO and certain other obligations associated with these assets.  The acquisition was funded from cash on hand and borrowings of million under the Credit Agreement, which were previously undrawn.  We determined that the assets acquired did meet the definition of a business; therefore, the transaction was accounted for as an asset acquisition.  The following table presents the purchase price allocation (in thousands):   

 

		2019
Oil and natural gas properties and other, net - at cost:		$	192,373
Other assets			4,838
Current liabilities			1,559
Asset retirement obligations			21,684
Other liabilities			4,132

 

 

In we completed the purchase of ConocoPhillips Company's ("Conoco") interests in and operatorship of oil and gas producing properties at Garden Banks blocks and (the "Magnolia Field").  After taking into account customary closing adjustments and an effective date of cash consideration was  million which includes cash expenses related to the acquisition.  We also assumed the related ARO.  The acquisition was funded from cash on hand.  We determined that the assets acquired did meet the definition of a business; therefore, the transaction was accounted for as an asset acquisition.  The following table presents the purchase price allocation (in thousands):   

 

		2019
Oil and natural gas properties and other, net - at cost:		$	23,791
Asset retirement obligations			7,842

 

 

On we completed the purchase of Cobalt International Energy, Inc.'s non-operated working interests located in Green Canyon blocks and (the "Heidelberg Field"). After taking into account customary closing adjustments and an effective date of cash consideration was  million which includes cash expenses related to the acquisition.  We determined that the assets acquired did meet the definition of a business; therefore, the transaction was accounted for as an asset acquisition. In connection with this transaction, we were required to furnish a letter of credit of million to a pipeline company as consignee. We recognized ARO of million as a component of the transaction.  In conjunction with the purchase of an interest in the Heidelberg field, we assumed contracts with certain pipeline companies that contain minimum quantities obligations through resulting in an estimated commitment of million as of the purchase date.

 

 

On we completed the divestiture of substantially all of our ownership in an overriding royalty interests in the Permian Basin.  The net proceeds received were million, which was recorded as a reduction to our full-cost pool.