|3 Months Ended|
Mar. 31, 2019
|Subsequent Events [Abstract]|
|SUBSEQUENT EVENTS||SUBSEQUENT EVENTSFlywheel Acquisition On April 18, 2019, the Company entered into a purchase and sale agreement (the “VEN Purchase Agreement”) with VEN Bakken, LLC (“Seller”), pursuant to which the Company has agreed to acquire, effective as of July 1, 2019, certain oil and gas properties and interests. Seller is a wholly-owned subsidiary of Flywheel Bakken, LLC, a portfolio company of the Kayne Private Energy Income Funds. Upon a closing under the VEN Purchase Agreement, Seller will receive consideration of $165.0 million in cash, 5,602,147 shares of common stock and $130.0 million in principal amount of a 6.0% Senior Unsecured Promissory Note due 2022. The cash and promissory note portions of the consideration are subject to adjustments resulting from pre- and post-effective date revenue and expense allocation and procedures relating to customary title and environmental matters. The obligations of the parties to complete the transactions contemplated by the VEN Purchase Agreement are subject to the satisfaction or waiver of customary closing conditions set forth in the VEN Purchase Agreement. The anticipated closing date under the VEN Purchase Agreement is July 1, 2019.|
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef