Quarterly report pursuant to Section 13 or 15(d)

Acquisitions??and Divestiture (Tables)

Acquisitions and Divestiture (Tables)
3 Months Ended
Mar. 31, 2020
Business Combinations [Abstract]  
Fair Value of Net Assets Acquired
The following table sets forth the Company’s preliminary allocation of the purchase price to the assets acquired and liabilities assumed as of the acquisition date.
Preliminary Purchase
Price Allocation
(In thousands)
Fair value of the Company’s common stock issued $765,373   
Total consideration $765,373   
Accounts payable $37,657   
Revenues and royalties payable 52,449   
Operating lease liabilities - current 29,924   
Fair value of derivatives - current 61,015   
Other current liabilities 88,547   
Long-term debt 1,984,135   
Operating lease liabilities - non-current 30,070   
Asset retirement obligation 26,151   
Fair value of derivatives - non-current 26,960   
Other long-term liabilities 17,260   
Common stock warrants 10,029   
Total liabilities assumed $2,364,197   
Accounts receivable, net $48,479   
Fair value of derivatives - current 17,451   
Other current assets 4,945   
Evaluated oil and natural gas properties 2,133,280   
Unevaluated properties 689,391   
Other property and equipment 9,614   
Fair value of derivatives - non-current 4,518   
Deferred tax asset 159,320   
Operating lease right-of-use-assets 59,994   
Other long term assets 2,578   
Total assets acquired $3,129,570   
Business Acquisition, Pro Forma Information
The pro forma consolidated statements of operations data has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the Merger taken place on January 1, 2018 and is not intended to be a projection of future results.
For the Year Ended
December 31, 2019
(In thousands)
Revenues $1,620,357   
Income from operations 614,668   
Net income 369,777   
Basic earnings per common share 0.89   
Diluted earnings per common share 0.89