Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.10.0.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Non-Cash Investing and Supplemental Cash Flow Information
The following table sets forth the non-cash investing and supplemental cash flow information for the periods indicated:
໿
 
 
For the Year Ended December 31,
 
 
2018
 
2017
 
2016
Non-cash investing information
 
 
 
 
 
 
   Change in accrued capital expenditures
 
$
(52,757
)
 
$
(39,532
)
 
$
(613
)
Supplemental cash flow information (a)
 
 
 
 
 
 
   Cash paid for interest, net of capitalized interest
 
$

 
$

 
$
8,679

(a)
During the three year period ended 2018, the Company paid no federal income taxes.
Effects of Adoption of New Accounting Standard
The Company adopted the new standard on January 1, 2018 using the modified retrospective method at the date of adoption. Prior to the adoption of ASC 606, gathering and treating fees associated with the Company’s gas processing agreements have historically been presented within lease operating expenses in the statement of operations. The current period presentation reports these fees as a reduction to natural gas revenues. The impact of adoption on the current period statement of operations is as follows:
 
As reported
 
Adjustments
 
Presentation without adoption of ASC Topic 606
Operating revenues
 
 
 
 
 
Natural gas sales
$
56,726

 
$
7,646

 
$
64,372

Total operating revenues
587,624

 
7,646

 
595,270

 
 
 
 
 
 
Operating expenses
 
 
 
 
 
Lease operating expenses
$
69,180

 
$
7,646

 
$
76,826

Total operating expenses
328,094

 
7,646

 
335,740