Quarterly report pursuant to Section 13 or 15(d)

Impact of ASC 606 Adoption (Tables)

v3.10.0.1
Impact of ASC 606 Adoption (Tables)
9 Months Ended
Sep. 30, 2018
Impact of ASC 606 Adoption  
Impact of adoption on the Company's results

The impact of adoption on the Company’s results is as follows for the periods presented (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2018

 

    

Under ASC 606

    

Under ASC 605

    

Decrease

 

 

 

 

 

 

 

 

 

 

Oil sales

 

$

33,218

 

$

33,237

 

$

(19)

Natural gas liquid sales

 

 

12,720

 

 

12,733

 

 

(13)

Natural gas sales

 

 

7,026

 

 

10,191

 

 

(3,165)

Gathering and transportation

 

 

54

 

 

3,203

 

 

(3,149)

Lease operating and workover expense

 

 

11,861

 

 

11,909

 

 

(48)

 

 

 

 

 

 

 

 

 

 

Net income

 

$

11,516

 

$

11,516

 

$

 —

 

 

 

 

 

 

 

 

 

 

Retained deficit

 

$

(61,170)

 

$

(61,170)

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2018

 

    

Under ASC 606

    

Under ASC 605

    

Decrease

 

 

 

 

 

 

 

 

 

 

Oil sales

 

$

99,834

 

$

99,879

 

$

(45)

Natural gas liquid sales

 

 

35,651

 

 

35,709

 

 

(58)

Natural gas sales

 

 

22,145

 

 

31,778

 

 

(9,633)

Gathering and transportation

 

 

178

 

 

9,702

 

 

(9,524)

Lease operating and workover expense

 

 

43,621

 

 

43,833

 

 

(212)

 

 

 

 

 

 

 

 

 

 

Net income

 

$

13,977

 

$

13,977

 

$

 —

 

 

 

 

 

 

 

 

 

 

Retained deficit

 

$

(61,170)

 

$

(61,170)

 

$

 —