Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENT

v3.21.2
SUBSEQUENT EVENT
6 Months Ended
Jun. 30, 2021
Subsequent Events [Abstract]  
SUBSEQUENT EVENT SUBSEQUENT EVENT
Permian Basin Acquisition

On May 28, 2021, the Company entered into a purchase and sale agreement (“PSA”), effective as of April 1, 2021, to acquire oil and gas properties in the Permian Basin. On August 2, 2021, the Company closed on the acquisition for total estimated consideration of $105.6 million in cash (which includes a $9.4 million deposit previously paid by the Company upon the execution of the PSA and held in escrow in accordance with the terms of the PSA). The Company has considered the disclosure requirements of ASC 805-10-50-2 and ASC 805-10-50-4 but has not included the required disclosures due to the timing of the transaction relative to the date of the report containing these condensed financial statements.