Annual report pursuant to Section 13 and 15(d)

Note 19 - Supplemental Oil and Gas Disclosures - Unaudited (Tables)

v3.20.4
Note 19 - Supplemental Oil and Gas Disclosures - Unaudited (Tables)
12 Months Ended
Dec. 31, 2020
Notes Tables  
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block]
   

December 31,

 
   

2020

   

2019

   

2018

 

Net capitalized costs:

                       

Proved oil and natural gas properties and equipment

  $ 8,567.5     $ 8,532.2     $ 8,169.9  

Accumulated depreciation, depletion and amortization related to oil, NGLs and natural gas activities

    (7,890.9 )     (7,793.3 )     (7,665.1 )

Net capitalized costs related to producing activities

  $ 676.6     $ 738.9     $ 504.8  
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block]
   

Year Ended December 31,

 
   

2020

   

2019

   

2018

 

Costs incurred: (1)

                       

Proved properties acquisitions

  $ 8.1     $ 223.8     $ 24.1  

Exploration (2) (3)

    7.4       30.6       49.9  

Development

    23.6       114.5       56.2  

Total costs incurred in oil and gas property acquisition, exploration and development activities

  $ 39.1     $ 368.9     $ 130.2  
Schedule of Amortization Expense Per Unit of Production [Table Text Block]
   

Year Ended December 31,

 
   

2020

   

2019

   

2018

 

Depreciation, depletion, amortization and accretion per Boe

  $ 7.82     $ 10.01     $ 11.24  
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Table Text Block]
                            Total Energy Equivalent Reserves (1)  
   

Oil (MMBbls)

   

NGLs (MMBbls)

   

Natural Gas (Bcf)

   

Oil Equivalent (MMBoe)

   

Natural Gas Equivalent (Bcfe)

 

Proved reserves as of Dec. 31, 2017

    34.4       7.8       192.2       74.2       445.3  

Revisions of previous estimates (2)

    11.6       2.8       40.4       21.1       126.7  

Extensions and discoveries (3)

    0.5       0.3       7.7       2.1       12.6  

Purchase of minerals in place (4)

    1.5       0.4       9.4       3.4       20.7  

Sales of minerals in place (5)

    (2.2 )     (0.2 )     (7.2 )     (3.5 )     (21.2 )

Production

    (6.7 )     (1.3 )     (32.0 )     (13.3 )     (80.0 )

Proved reserves as of Dec. 31, 2018

    39.1       9.8       210.5       84.0       504.1  

Revisions of previous estimates (6)

    1.4       (1.5 )     (16.9 )     (3.0 )     (18.2 )

Extensions and discoveries (7)

    0.9       0.1       1.2       1.1       6.7  

Purchase of minerals in place (8)

    3.1       17.4       417.6       90.1       540.9  

Production

    (6.7 )     (1.3 )     (41.3 )     (14.8 )     (89.0 )

Proved reserves as of Dec. 31, 2019

    37.8       24.5       571.1       157.4       944.5  

Revisions of previous estimates (9)

    (0.9 )     (5.9 )     31.6       (1.4 )     (8.8 )
Extensions and discoveries (10)     0.2       0.0       0.2       0.2       1.3  

Purchase of minerals in place (11)

    0.7       0.4       14.8       3.6       21.8  

Production

    (5.6 )     (1.7 )     (48.4 )     (15.4 )     (92.3 )

Proved reserves as of Dec. 31, 2020

    32.2       17.3       569.3       144.4       866.5  
                                         

Year-end proved developed reserves:

                                       

2020

    24.0       16.5       550.2       132.2       793.3  

2019

    28.0       21.7       504.9       133.8       802.9  

2018

    31.5       7.8       166.8       67.0       402.2  
                                         

Year-end proved undeveloped reserves:

                                       
2020 (12)     8.2       0.9       19.1       12.2       73.2  

2019

    9.8       2.8       66.2       23.6       141.6  

2018

    7.6       2.0       43.7       17.0       101.9  
Schedule Of Prices Weighted By Field Production Related To The Proved Reserves [Table Text Block]
   

December 31,

 
   

2020

   

2019

   

2018

   

2017

 

Oil - per barrel

  $ 37.78     $ 58.11     $ 65.21     $ 46.58  

NGLs per barrel

    10.29       18.72       29.73       22.65  

Natural gas per Mcf

    2.05       2.63       3.13       2.86  
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Table Text Block]
   

Year Ended December 31,

 
   

2020

   

2019

   

2018

 

Standardized Measure of Discounted Future Net Cash Flows

                       

Future cash inflows

  $ 2,561.2     $ 4,153.8     $ 3,500.9  

Future costs:

                       

Production

    (1,257.4 )     (1,901.1 )     (958.5 )

Development and abandonment

    (707.4 )     (794.7 )     (628.3 )

Income taxes

    (60.5 )     (170.5 )     (293.9 )

Future net cash inflows before 10% discount

    535.9       1,287.5       1,620.2  

10% annual discount factor

    (42.2 )     (300.6 )     (553.2 )

Total

  $ 493.7     $ 986.9     $ 1,067.0  
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block]
   

Year Ended December 31,

 
   

2020

   

2019

   

2018

 

Changes in Standardized Measure

                       

Standardized measure, beginning of year

  $ 986.9     $ 1,067.0     $ 740.6  

Increases (decreases):

                       

Sales and transfers of oil and gas produced, net of production costs

    (168.6 )     (315.8 )     (398.1 )

Net changes in price, net of future production costs

    (503.7 )     (376.4 )     571.5  

Extensions and discoveries, net of future production and development costs

    2.8       27.0       53.6  

Changes in estimated future development costs

    (15.9 )     (6.0 )     (114.7 )

Previously estimated development costs incurred

    1.4       19.3       48.4  

Revisions of quantity estimates

    (65.2 )     116.4       307.6  

Accretion of discount

    111.8       107.4       50.5  

Net change in income taxes

    87.7       62.9       (133.4 )

Purchases of reserves in-place

    44.6       298.3       27.8  

Sales of reserves in-place

                (54.1 )

Changes in production rates due to timing and other

    11.9       (13.2 )     (32.7 )

Net (decrease) increase

    (493.2 )     (80.1 )     326.4  

Standardized measure, end of year

  $ 493.7     $ 986.9     $ 1,067.0