Cimarex Energy (CIMXP) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020
Cover [Abstract]
Entity Central Index Key	0001168054
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-31446
Entity Registrant Name	CIMAREX ENERGY CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-0466694
Entity Address, Address Line One	1700 Lincoln Street, Suite 3700
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80203
City Area Code	303
Local Phone Number	295-3995
Title of 12(b) Security	Common Stock ($0.01 par value)
Trading Symbol	XEC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		102,100,718

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 88,706	$ 94,722
Accounts receivable, net of allowance:
Trade	138,929	57,879
Oil and gas sales	187,403	384,707
Gas gathering, processing, and marketing	3,645	5,998
Oil and gas well equipment and supplies	45,108	47,893
Derivative instruments	200,537	17,944
Prepaid expenses	9,985	10,759
Other current assets	2,278	1,584
Total current assets	676,591	621,486
Oil and gas properties at cost, using the full cost method of accounting:
Proved properties	20,894,962	20,678,334
Unproved properties and properties under development, not being amortized	1,297,493	1,255,908
Gross oil and gas properties	22,192,455	21,934,242
Less—accumulated depreciation, depletion, amortization, and impairment	(17,255,321)	(16,723,544)
Net oil and gas properties	4,937,134	5,210,698
Fixed assets, net of accumulated depreciation of $406,388 and $389,458, respectively	527,652	519,291
Goodwill	0	716,865
Derivative instruments	7,121	580
Other assets	69,848	71,109
Total assets	6,218,346	7,140,029
Accounts payable:
Trade	48,313	36,280
Gas gathering, processing, and marketing	8,187	12,740
Accrued liabilities:
Exploration and development	94,538	112,228
Taxes other than income	28,349	54,446
Other	237,903	252,304
Derivative instruments	6,772	16,681
Revenue payable	135,079	207,939
Operating leases	65,958	66,003
Total current liabilities	625,099	758,621
Long-term debt principal	2,000,000	2,000,000
Less—unamortized debt issuance costs and discounts	(14,242)	(14,754)
Long-term debt, net	1,985,758	1,985,246
Deferred income taxes	322,067	338,424
Asset retirement obligation	157,393	154,045
Derivative instruments	16,235	1,018
Operating leases	182,590	184,172
Other liabilities	58,084	60,742
Total liabilities	3,347,226	3,482,268
Commitments and contingencies (Note 10)
Redeemable preferred stock - 8.125% Series A Cumulative Perpetual Convertible Preferred Stock, $0.01 par value, 62,500 shares authorized and issued (Note 5)	81,620	81,620
Stockholders’ equity:
Common stock, $0.01 par value, 200,000,000 shares authorized, 102,101,878 and 102,144,577 shares issued, respectively	1,021	1,021
Additional paid-in capital	3,254,760	3,243,325
(Accumulated deficit) retained earnings	(466,281)	331,795
Total stockholders’ equity	2,789,500	3,576,141
Total liabilities and stockholders' equity	$ 6,218,346	$ 7,140,029

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accumulated depreciation on fixed assets	$ 406,388	$ 389,458
Redeemable preferred stock dividend rate (as a percent)	8.125%	8.125%
Redeemable preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Redeemable preferred stock authorized (shares)	62,500	62,500
Redeemable preferred stock issued (shares)	62,500	62,500
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock authorized (shares)	200,000,000	200,000,000
Common stock issued (shares)	102,101,878	102,144,577

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Revenues	$ 472,830	$ 576,957
Costs and expenses:
Impairment of oil and gas properties	333,651	0
Depreciation, depletion, and amortization	215,086	190,417
Asset retirement obligation	4,724	2,049
Impairment of goodwill	714,447	0
Production	87,236	78,404
Transportation, processing, and other operating	54,922	59,575
Gas gathering and other	8,298	5,182
Taxes other than income	30,961	33,694
General and administrative	25,509	29,084
Stock compensation	6,394	6,713
(Gain) loss on derivative instruments, net	(226,940)	115,452
Other operating expense, net	251	8,326
Total costs and expenses	1,254,539	528,896
Operating (loss) income	(781,709)	48,061
Other (income) and expense:
Interest expense	23,181	20,405
Capitalized interest	(13,182)	(8,742)
Loss on early extinguishment of debt	0	4,250
Other, net	(871)	(2,241)
(Loss) income before income tax	(790,837)	34,389
Income tax (benefit) expense	(16,555)	8,073
Net (loss) income	$ (774,282)	$ 26,316
Earnings (loss) per share to common stockholders:
Basic (USD per share)	$ (7.77)	$ 0.26
Diluted (USD per share)	$ (7.77)	$ 0.26
Comprehensive (loss) income:
Net (loss) income	$ (774,282)	$ 26,316
Other comprehensive income:
Change in fair value of investments, net of tax of $0 and $339, respectively	0	1,149
Total comprehensive (loss) income	(774,282)	27,465
Oil sales
Revenues:
Revenues	360,980	349,306
Gas and NGL sales
Revenues:
Revenues	98,481	217,915
Gas gathering and other
Revenues:
Revenues	13,583	10,262
Gas marketing
Revenues:
Revenues	$ (214)	$ (526)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Change in fair value investments, tax	$ 0	$ 339

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net (loss) income	$ (774,282)	$ 26,316
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Impairment of oil and gas properties	333,651	0
Depreciation, depletion, and amortization	215,086	190,417
Asset retirement obligation	4,724	2,049
Impairment of goodwill	714,447	0
Deferred income taxes	(16,357)	8,073
Stock compensation	6,394	6,713
(Gain) loss on derivative instruments, net	(226,940)	115,452
Settlements on derivative instruments	43,114	(9,051)
Loss on early extinguishment of debt	0	4,250
Amortization of debt issuance costs and discounts	784	719
Changes in non-current assets and liabilities	2,410	2,148
Other, net	3,390	3,976
Changes in operating assets and liabilities:
Accounts receivable	119,605	33,976
Other current assets	(24)	350
Accounts payable and other current liabilities	(117,211)	(135,297)
Net cash provided by operating activities	308,791	250,091
Cash flows from investing activities:
Acquisition of Resolute Energy, net of cash acquired (Note 13)	0	(284,441)
Oil and gas capital expenditures	(266,070)	(332,742)
Other capital expenditures	(26,425)	(17,828)
Sales of oil and gas assets	830	5,000
Sales of other assets	181	200
Net cash used by investing activities	(291,484)	(629,811)
Cash flows from financing activities:
Borrowings of long-term debt	101,000	1,182,310
Repayments of long-term debt	(101,000)	(1,553,000)
Financing, underwriting, and debt redemption fees	(100)	(10,938)
Finance lease payments	(1,465)	(635)
Dividends paid	(21,593)	(17,179)
Employee withholding taxes paid upon the net settlement of equity-classified stock awards	(165)	(654)
Proceeds from exercise of stock options	0	80
Net cash used by financing activities	(23,323)	(400,016)
Net change in cash and cash equivalents	(6,016)	(779,736)
Cash and cash equivalents at beginning of period	94,722	800,666
Cash and cash equivalents at end of period	$ 88,706	$ 20,930

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income
Balance at beginning of period (shares) at Dec. 31, 2018		95,756
Balance at beginning of period at Dec. 31, 2018	$ 3,329,786	$ 958	$ 2,785,188	$ 542,885	$ 755
Increase (Decrease) in Stockholders' Equity
Dividends paid on stock awards subsequently forfeited	2			2
Dividends declared on common stock	(20,308)			(20,308)
Dividends declared on redeemable preferred stock	(1,269)			(1,269)
Net (loss) income	26,316			26,316
Issuance of stock for Resolute Energy acquisition (Note 13) (shares)		5,652
Issuance of stock for Resolute Energy acquisition (Note 13)	413,015	$ 56	412,959
Unrealized change in fair value of investments, net of tax	1,149				1,149
Issuance of restricted stock awards (shares)		11
Common stock reacquired and retired (shares)		(10)
Common stock reacquired and retired	(654)		(654)
Restricted stock forfeited and retired (shares)		(4)
Exercise of stock options (shares)		3
Exercise of stock options	80		80
Stock-based compensation	13,245		13,245
Balance at end of period (shares) at Mar. 31, 2019		101,408
Balance at end of period at Mar. 31, 2019	3,761,362	$ 1,014	3,210,818	547,626	$ 1,904
Balance at beginning of period (shares) at Dec. 31, 2019		102,145
Balance at beginning of period at Dec. 31, 2019	3,576,141	$ 1,021	3,243,325	331,795
Increase (Decrease) in Stockholders' Equity
Dividends paid on stock awards subsequently forfeited	29		6	23
Dividends declared on common stock	(22,548)			(22,548)
Dividends declared on redeemable preferred stock	(1,269)			(1,269)
Net (loss) income	(774,282)			(774,282)
Unrealized change in fair value of investments, net of tax	0
Common stock reacquired and retired (shares)		(12)
Common stock reacquired and retired	(165)		(165)
Restricted stock forfeited and retired (shares)		(31)
Stock-based compensation	11,594		11,594
Balance at end of period (shares) at Mar. 31, 2020		102,102
Balance at end of period at Mar. 31, 2020	$ 2,789,500	$ 1,021	$ 3,254,760	$ (466,281)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Common Stock
Dividends declared per common share (USD per share)	$ 0.22	$ 0.20
Preferred Stock
Dividends declared per preferred share (USD per share)	$ 20.3125	$ 20.3125

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Cimarex Energy Co. (“Cimarex,” “we,” or “us”), a Delaware corporation, is an independent oil and gas exploration and production company. Our operations are mainly located in Texas, Oklahoma, and New Mexico. The accompanying unaudited financial statements have been prepared pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain disclosures required by accounting principles generally accepted in the United States and normally included in Annual Reports on Form 10-K have been omitted. Although management believes that our disclosures in these interim financial statements are adequate, they should be read in conjunction with the financial statements, summary of significant accounting policies, and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2019 . In the opinion of management, the accompanying financial statements reflect all adjustments necessary to fairly present our financial position, results of operations, and cash flows for the periods and as of the dates shown. The accounts of Cimarex and its subsidiaries are presented in the accompanying financial statements, with intercompany balances and transactions eliminated in consolidation. Certain amounts in the prior year financial statements have been reclassified to conform to the 2020 financial statement presentation. On March 1, 2019 , we acquired Resolute Energy Corporation (“Resolute”) in a cash and stock transaction. The results of Resolute’s operations have been included in our consolidated financial statements since the March 1, 2019 acquisition date. See Note 13 for more information on this transaction. Use of Estimates Areas of significance requiring the use of management’s judgments include the estimation of proved oil and gas reserves used in calculating depletion, the estimation of future net revenues used in computing ceiling test limitations, the estimation of future abandonment obligations used in recording asset retirement obligations, and the assessment of goodwill. Estimates and judgments also are required in determining allowances for doubtful accounts, impairments of unproved properties and other assets, valuation of deferred tax assets, fair value measurements, lease liabilities, and contingencies. Prior Year Reclassifications Certain amounts in the prior year financial statements have been reclassified to conform to the 2020 financial statement presentation. These reclassifications include reclassifying certain “Gas gathering and other” expenses to “Transportation, processing, and other operating” expense and “Production” expense. These reclassifications were made to reflect an allocation of the costs incurred to operate our gas gathering facilities as a cost to transport our equity share of gas produced and operate our wells. The following table shows the reclassifications made: Three Months Ended March 31, 2019 (in thousands) Prior Year Presentation Current Year Reclassifications Current Year Presentation Production $ 77,233 $ 1,171 $ 78,404 Transportation, processing, and other operating $ 53,608 5,967 $ 59,575 Gas gathering and other $ 12,320 (7,138 ) $ 5,182 $ — Oil and Gas Well Equipment and Supplies Our oil and gas well equipment and supplies are valued at the lower of cost and net realizable value, where net realizable value is estimated selling prices in the ordinary course of business, less reasonably predictable costs of disposal and transportation. Declines in the price of oil and gas well equipment and supplies in future periods could cause us to recognize impairments on these assets. An impairment would not affect cash flow from operating activities, but would adversely affect our net income and stockholders’ equity. Oil and Gas Properties We use the full cost method of accounting for our oil and gas operations. All costs associated with property acquisition, exploration, and development activities are capitalized. Under the full cost method of accounting, we are required to perform a quarterly ceiling test calculation to test our oil and gas properties for possible impairment. If the net capitalized cost of our oil and gas properties, as adjusted for income taxes, exceeds the ceiling limitation, the excess is charged to expense. The ceiling limitation is equal to the sum of: (i) the present value discounted at 10% of estimated future net revenues from proved reserves, (ii) the cost of properties not being amortized, and (iii) the lower of cost or estimated fair value of unproven properties included in the costs being amortized, as adjusted for income taxes. We currently do not have any unproven properties that are being amortized. Estimated future net revenues are determined based on trailing twelve-month average commodity prices and estimated proved reserve quantities, operating costs, and capital expenditures. The quarterly ceiling test is primarily impacted by commodity prices, changes in estimated reserve quantities, overall exploration and development costs, and deferred taxes. If pricing conditions decline, or if there is a negative impact on one or more of the other components of the calculation, we may incur a full cost ceiling test impairment. The calculated ceiling limitation is not intended to be indicative of the fair market value of our proved reserves or future results. Impairment charges do not affect cash flow from operating activities, but do adversely affect our net income and various components of our balance sheet. Any impairment of oil and gas properties is not reversible at a later date. At March 31, 2020 , we incurred a ceiling test impairment of $333.7 million . The impairment resulted primarily from the impact of decreases in the 12-month average trailing prices for oil, gas, and NGLs as well as significant basis differentials utilized in determining the estimated future net cash flows from proved reserves. We expect these conditions to continue at least through June 30, 2020 and possibly beyond and, therefore, expect to incur another ceiling test impairment at June 30, 2020. Goodwill Goodwill represents the excess of the purchase price of business combinations over the fair value of the net assets acquired and is tested for impairment at least annually. In performing the goodwill test, we compare the fair value of our reporting unit with its carrying amount. If the carrying amount of the reporting unit were to exceed its fair value, an impairment charge would be recognized in the amount of this excess, limited to the total amount of goodwill allocated to that reporting unit. We evaluate our goodwill for impairment in the fourth quarter of each year and whenever events or changes in circumstances indicate the possibility that goodwill may be impaired. Based upon our assessment as of October 31, 2019, goodwill was not impaired. However, during the quarter ended March 31, 2020 the company’s market capitalization declined significantly driven by current macroeconomic and geopolitical conditions including the collapse of oil prices driven by surplus supply and decreased demand caused by the COVID-19 pandemic. In addition, the uncertainty related to oil demand continues to have a significant impact on our investment and operating decisions. Based on these events, we concluded that a triggering event occurred, which required us to perform an interim quantitative impairment test for goodwill as of March 31, 2020 . As a result of that quantitative impairment test, which utilized quoted market prices for the company’s common stock as a basis for determining fair value, we concluded that goodwill was impaired at March 31, 2020 . The following table reflects components of the change in the carrying amount of goodwill for the three months ended March 31, 2020 : (in thousands) Three Months Ended Goodwill balance at January 1, 2020 $ 716,865 Resolute acquisition purchase price adjustments (Note 13) (2,418 ) Impairment (714,447 ) Goodwill balance at March 31, 2020 $ — Revenue Recognition Oil, Gas, and NGL Sales Revenue is recognized from the sales of oil, gas, and NGLs when the customer obtains control of the product, when we have no further obligations to perform related to the sale, and when collectability is probable. All of our sales of oil, gas, and NGLs are made under contracts with customers, which typically include variable consideration based on monthly pricing tied to local indices and monthly volumes delivered. The nature of our contracts with customers does not require us to constrain that variable consideration or to estimate the amount of transaction price attributable to future performance obligations for accounting purposes. As of March 31, 2020 , we had open contracts with customers with terms of one month to multiple years, as well as “evergreen” contracts that renew on a periodic basis if not canceled by us or the customer. Performance obligations under our contracts with customers are typically satisfied at a point-in-time through monthly delivery of oil, gas, and/or NGLs. Our contracts with customers typically require payment within one month of delivery. Our gas is sold under various contracts. Under these contracts the gas and its components, including residue gas and NGLs, may be sold to a single purchaser or separate purchasers. Regardless of the contract, we are compensated for the value of the residue gas and NGLs at current market prices for each product. Depending on the specific contract terms, certain gathering, treating, transportation, processing, and other charges may be deducted against the prices we receive for the products. Our oil typically is sold at specific delivery points under contract terms that also are common in our industry. Gas Gathering When we transport and/or process third-party gas associated with our equity gas, we recognize revenue for the fees charged to third-parties for such services. Gas Marketing When we market and sell gas for other working interest owners, we act as agent under short-term sales and supply agreements and may earn a fee for such services. Revenues from such services are recognized as gas is delivered. Gas Imbalances Revenue from the sale of gas is recorded on the basis of gas actually sold by or for us. If our aggregate sales volumes for a well are greater (or less) than our proportionate share of production from the well, a liability (or receivable) is established to the extent there are insufficient proved reserves available to make-up the overproduced (or underproduced) imbalance. Imbalances have not been significant in the periods presented.

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2020
Long-term Debt, Unclassified [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt at March 31, 2020 and December 31, 2019 consisted of the following: March 31, 2020 December 31, 2019 (in thousands) Principal Unamortized Debt Issuance Costs and Discounts (1) Long-term Debt, net Principal Unamortized Debt Issuance Costs and Discounts (1) Long-term Debt, net 4.375% Notes due 2024 $ 750,000 $ (3,316 ) $ 746,684 $ 750,000 $ (3,535 ) $ 746,465 3.90% Notes due 2027 750,000 (6,105 ) 743,895 750,000 (6,289 ) 743,711 4.375% Notes due 2029 500,000 (4,821 ) 495,179 500,000 (4,930 ) 495,070 $ 2,000,000 $ (14,242 ) $ 1,985,758 $ 2,000,000 $ (14,754 ) $ 1,985,246 ________________________________________ (1) The 4.375% Notes due 2024 were issued at par, therefore, the amounts shown in the table are for unamortized debt issuance costs only. At March 31, 2020 , the unamortized debt issuance costs and discount related to the 3.90% Notes due 2027 were $4.7 million and $1.4 million , respectively. At March 31, 2020 , the unamortized debt issuance costs and discount related to the 4.375% Notes due 2029 were $4.2 million and $0.6 million , respectively. At December 31, 2019 , the unamortized debt issuance costs and discount related to the 3.90% Notes due 2027 were $4.8 million and $1.5 million , respectively. At December 31, 2019 , the unamortized debt issuance costs and discount related to the 4.375% Notes due 2029 were $4.3 million and $0.6 million , respectively. Bank Debt On February 5, 2019 , we entered into an Amended and Restated Credit Agreement for our senior unsecured revolving credit facility (“Credit Facility”). The Credit Facility has aggregate commitments of $1.25 billion with an option for us to increase the aggregate commitments to $1.5 billion , and matures on February 5, 2024 . There is no borrowing base subject to the discretion of the lenders based on the value of our proved reserves under the Credit Facility. As of March 31, 2020 , we had no bank borrowings outstanding under the Credit Facility, but did have letters of credit of $2.5 million outstanding, leaving an unused borrowing availability of $1.248 billion . During the three months ended March 31, 2020 , we borrowed and repaid an aggregate of $101.0 million on the Credit Facility to meet cash requirements as needed. At our option, borrowings under the Credit Facility may bear interest at either (a) LIBOR (or an alternate rate determined by the administrative agent for the Credit Facility in accordance with the Credit Facility when LIBOR is no longer available) plus 1.125 – 2.0% based on the credit rating for our senior unsecured long-term debt, or (b) a base rate (as defined in the credit agreement) plus 0.125 – 1.0% , based on the credit rating for our senior unsecured long-term debt. Unused borrowings are subject to a commitment fee of 0.125 – 0.35% , based on the credit rating for our senior unsecured long-term debt. The Credit Facility contains representations, warranties, covenants, and events of default that are customary for investment grade, senior unsecured bank credit agreements, including a financial covenant for the maintenance of a defined total debt-to-capital ratio of no greater than 65% . As of March 31, 2020 , we were in compliance with all of the financial covenants. At March 31, 2020 and December 31, 2019 , we had $3.9 million and $4.0 million , respectively, of unamortized debt issuance costs associated with our Credit Facility, which were recorded as assets and included in “Other assets” on our Condensed Consolidated Balance Sheets. These costs are being amortized to interest expense ratably over the life of the Credit Facility. Senior Notes On March 8, 2019 , we issued $500 million aggregate principal amount of 4.375% senior unsecured notes due March 15, 2029 at 99.862% of par to yield 4.392% per annum. We received $494.7 million in net cash proceeds, after deducting underwriters’ fees, discount, and debt issuance costs. The notes bear an annual interest rate of 4.375% and interest is payable semiannually on March 15 and September 15 , with the first payment made on September 15, 2019 . We used the net proceeds to repay borrowings outstanding under our Credit Facility that were used to help fund the Resolute acquisition on March 1, 2019 . The effective interest rate on these notes, including the amortization of debt issuance costs and discount, is 4.50% . In April 2017, we issued $750 million aggregate principal amount of 3.90% senior unsecured notes at 99.748% of par to yield 3.93% per annum. These notes are due May 15, 2027 and interest is payable semiannually on May 15 and November 15. The effective interest rate on these notes, including the amortization of debt issuance costs and discount, is 4.01% . In June 2014, we issued $750 million aggregate principal amount of 4.375% senior unsecured notes at par. These notes are due June 1, 2024 and interest is payable semiannually on June 1 and December 1. The effective interest rate on these notes, including the amortization of debt issuance costs, is 4.50% . Our senior unsecured notes are governed by indentures containing certain covenants, events of default, and other restrictive provisions with which we were in compliance as of March 31, 2020

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedges, Assets [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS We periodically use derivative instruments to mitigate volatility in commodity prices. While the use of these instruments limits the downside risk of adverse price changes, their use may also limit future cash flow from favorable price changes. Depending on changes in oil and gas futures markets and management’s view of underlying supply and demand trends, we may increase or decrease our derivative positions from current levels. As of March 31, 2020 , we have entered into oil and gas collars and oil basis swaps. We also occasionally enter into fixed price swaps. Under our collars, we receive the difference between the published index price and a floor price if the index price is below the floor price or we pay the difference between the ceiling price and the index price if the index price is above the ceiling price. No amounts are paid or received if the index price is between the floor and the ceiling prices. By using a collar, we have fixed the minimum and maximum prices we can receive on the underlying production. Our basis swaps are settled based on the difference between a published index price plus or minus a fixed differential, as applicable, and the applicable local index price under which the underlying production is sold. By using a basis swap, we have fixed the differential between the published index price and certain of our physical pricing points. For our Permian oil production, the basis swaps fix the price differential between the WTI NYMEX (Cushing Oklahoma) price and the WTI Midland price. For our Permian and Mid-Continent gas production, the contract prices in our collars are consistent with the index prices used to sell our production. Under our fixed price swaps, we receive the difference between the fixed price and the published index price if the published index price is below the fixed price and we pay the difference between the fixed price and the published index price if the published index price is above the fixed price. The following tables summarize our outstanding derivative contracts as of March 31, 2020 : Oil Collars First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: WTI (1) Volume (Bbls) — 2,821,000 3,588,000 3,588,000 9,997,000 Weighted Avg Price - Floor $ — $ 50.43 $ 41.47 $ 41.47 $ 44.00 Weighted Avg Price - Ceiling $ — $ 61.55 $ 50.32 $ 50.32 $ 53.49 2021: WTI (1) Volume (Bbls) 2,790,000 1,911,000 1,104,000 1,104,000 6,909,000 Weighted Avg Price - Floor $ 39.27 $ 34.38 $ 29.67 $ 29.67 $ 34.85 Weighted Avg Price - Ceiling $ 47.10 $ 41.41 $ 36.25 $ 36.25 $ 42.06 ________________________________________ (1) The index price for these collars is West Texas Intermediate (“WTI”) as quoted on the New York Mercantile Exchange (“NYMEX”). Gas Collars First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: PEPL (1) Volume (MMBtu) — 5,460,000 6,440,000 6,440,000 18,340,000 Weighted Avg Price - Floor $ — $ 1.90 $ 1.75 $ 1.75 $ 1.79 Weighted Avg Price - Ceiling $ — $ 2.28 $ 2.17 $ 2.17 $ 2.20 Perm EP (2) Volume (MMBtu) — 2,730,000 5,520,000 5,520,000 13,770,000 Weighted Avg Price - Floor $ — $ 1.40 $ 1.33 $ 1.33 $ 1.35 Weighted Avg Price - Ceiling $ — $ 1.82 $ 1.61 $ 1.61 $ 1.65 Waha (3) Volume (MMBtu) — 2,730,000 3,680,000 3,680,000 10,090,000 Weighted Avg Price - Floor $ — $ 1.57 $ 1.28 $ 1.28 $ 1.35 Weighted Avg Price - Ceiling $ — $ 1.97 $ 1.54 $ 1.54 $ 1.65 2021: PEPL (1) Volume (MMBtu) 4,500,000 3,640,000 1,840,000 1,840,000 11,820,000 Weighted Avg Price - Floor $ 1.71 $ 1.67 $ 1.70 $ 1.70 $ 1.69 Weighted Avg Price - Ceiling $ 2.11 $ 2.06 $ 2.12 $ 2.12 $ 2.10 Perm EP (2) Volume (MMBtu) 3,600,000 3,640,000 1,840,000 1,840,000 10,920,000 Weighted Avg Price - Floor $ 1.33 $ 1.33 $ 1.50 $ 1.50 $ 1.38 Weighted Avg Price - Ceiling $ 1.58 $ 1.58 $ 1.80 $ 1.80 $ 1.66 Waha (3) Volume (MMBtu) 3,600,000 3,640,000 1,840,000 1,840,000 10,920,000 Weighted Avg Price - Floor $ 1.28 $ 1.28 $ 1.50 $ 1.50 $ 1.35 Weighted Avg Price - Ceiling $ 1.54 $ 1.54 $ 1.75 $ 1.75 $ 1.61 ________________________________________ (1) The index price for these collars is Panhandle Eastern Pipe Line, Tex/OK Mid-Continent Index (“PEPL”) as quoted in Platt’s Inside FERC. (2) The index price for these collars is El Paso Natural Gas Company, Permian Basin Index (“Perm EP”) as quoted in Platt’s Inside FERC. (3) The index price for these collars is Waha West Texas Natural Gas Index (“Waha”) as quoted in Platt’s Inside FERC. Oil Basis Swaps First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: WTI Midland (1) Volume (Bbls) — 2,366,000 2,392,000 2,392,000 7,150,000 Weighted Avg Differential (2) $ — $ 0.44 $ 0.36 $ 0.36 $ 0.39 2021: WTI Midland (1) Volume (Bbls) 1,620,000 1,092,000 644,000 644,000 4,000,000 Weighted Avg Differential (2) $ 0.21 $ 0.03 $ (0.68 ) $ (0.68 ) $ (0.13 ) ________________________________________ (1) The index price we pay under these basis swaps is WTI Midland as quoted by Argus Americas Crude. (2) The index price we receive under these basis swaps is WTI as quoted on the NYMEX plus or minus, as applicable, the weighted average differential shown in the table. The following tables summarize our derivative contracts entered into subsequent to March 31, 2020 through May 8, 2020: Oil Collars First Second Third Fourth Quarter Total 2020: WTI (1) Volume (Bbls) — 304,000 184,000 184,000 672,000 Wtd Avg Price - Floor $ — $ 28.39 $ 30.00 $ 30.00 $ 29.27 Wtd Avg Price - Ceiling $ — $ 34.91 $ 40.50 $ 40.50 $ 37.97 2021: WTI (1) Volume (Bbls) 180,000 182,000 184,000 184,000 730,000 Wtd Avg Price - Floor $ 30.00 $ 30.00 $ 30.00 $ 30.00 $ 30.00 Wtd Avg Price - Ceiling $ 40.50 $ 40.50 $ 40.50 $ 40.50 $ 40.50 ________________________________________ (1) The index price for these collars is WTI as quoted on the NYMEX. Gas Collars First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: PEPL (1) Volume (MMBtu) — 300,000 920,000 920,000 2,140,000 Weighted Avg Price - Floor $ — $ 1.78 $ 1.78 $ 1.78 $ 1.78 Weighted Avg Price - Ceiling $ — $ 2.18 $ 2.18 $ 2.18 $ 2.18 Perm EP (2) Volume (MMBtu) — 300,000 920,000 920,000 2,140,000 Weighted Avg Price - Floor $ — $ 1.52 $ 1.52 $ 1.52 $ 1.52 Weighted Avg Price - Ceiling $ — $ 1.80 $ 1.80 $ 1.80 $ 1.80 Waha (3) Volume (MMBtu) — 300,000 920,000 920,000 2,140,000 Weighted Avg Price - Floor $ — $ 1.50 $ 1.50 $ 1.50 $ 1.50 Weighted Avg Price - Ceiling $ — $ 1.76 $ 1.76 $ 1.76 $ 1.76 2021: PEPL (1) Volume (MMBtu) 900,000 910,000 920,000 920,000 3,650,000 Weighted Avg Price - Floor $ 1.78 $ 1.78 $ 1.78 $ 1.78 $ 1.78 Weighted Avg Price - Ceiling $ 2.18 $ 2.18 $ 2.18 $ 2.18 $ 2.18 Perm EP (2) Volume (MMBtu) 900,000 910,000 920,000 920,000 3,650,000 Weighted Avg Price - Floor $ 1.52 $ 1.52 $ 1.52 $ 1.52 $ 1.52 Weighted Avg Price - Ceiling $ 1.80 $ 1.80 $ 1.80 $ 1.80 $ 1.80 Waha (3) Volume (MMBtu) 900,000 910,000 920,000 920,000 3,650,000 Weighted Avg Price - Floor $ 1.50 $ 1.50 $ 1.50 $ 1.50 $ 1.50 Weighted Avg Price - Ceiling $ 1.76 $ 1.76 $ 1.76 $ 1.76 $ 1.76 ________________________________________ (1) The index price for these collars is PEPL as quoted in Platt’s Inside FERC. (2) The index price for these collars is Perm EP as quoted in Platt’s Inside FERC. (3) The index price for these collars is Waha as quoted in Platt’s Inside FERC. Oil Basis Swaps First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: WTI Midland (1) Volume (Bbls) — 150,000 552,000 552,000 1,254,000 Weighted Avg Differential (2) $ — $ (0.59 ) $ (0.62 ) $ (0.62 ) $ (0.61 ) 2021: WTI Midland (1) Volume (Bbls) 540,000 546,000 552,000 552,000 2,190,000 Weighted Avg Differential (2) $ (0.62 ) $ (0.62 ) $ (0.62 ) $ (0.62 ) $ (0.62 ) ________________________________________ (1) The index price we pay under these basis swaps is WTI Midland as quoted by Argus Americas Crude. (2) The index price we receive under these basis swaps is WTI as quoted on the NYMEX plus or minus, as applicable, the weighted average differential shown in the table. Oil Swaps First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: WTI (1) Volume (Bbls) — 427,000 — — 427,000 Weighted Avg Price $ — $ 20.73 $ — $ — $ 20.73 ________________________________________ (1) The fixed price on these swaps is NYMEX WTI. Derivative Gains and Losses Net gains and losses on our derivative instruments are a function of fluctuations in the underlying commodity index prices as compared to the contracted prices and the monthly cash settlements (if any) of the instruments. We have elected not to designate our derivatives as hedging instruments for accounting purposes and, therefore, we do not apply hedge accounting treatment to our derivative instruments. Consequently, changes in the fair value of our derivative instruments and cash settlements on the instruments are included as a component of operating costs and expenses as either a net gain or loss on derivative instruments. Cash settlements of our contracts are included in cash flows from operating activities in our statements of cash flows. The following table presents the components of “(Gain) loss on derivative instruments, net” for the periods indicated. Three Months Ended (in thousands) 2020 2019 Decrease (increase) in fair value of derivative instruments, net: Gas contracts $ 12,493 $ (9,846 ) Oil contracts (196,319 ) 116,247 (183,826 ) 106,401 Cash (receipts) payments on derivative instruments, net: Gas contracts (11,719 ) 3,764 Oil contracts (31,395 ) 5,287 (43,114 ) 9,051 (Gain) loss on derivative instruments, net $ (226,940 ) $ 115,452 Derivative Fair Value Our derivative contracts are carried at their fair value on our balance sheet using Level 2 inputs and are subject to master netting arrangements, which allow us to offset recognized asset and liability fair value amounts on contracts with the same counterparty. Our accounting policy is to not offset asset and liability positions in our balance sheets. The following tables present the amounts and classifications of our derivative assets and liabilities as of March 31, 2020 and December 31, 2019 , as well as the potential effect of netting arrangements on our recognized derivative asset and liability amounts. March 31, 2020 (in thousands) Balance Sheet Location Asset Liability Oil contracts Current assets — Derivative instruments $ 189,689 $ — Gas contracts Current assets — Derivative instruments 10,848 — Oil contracts Non-current assets — Derivative instruments 7,121 — Oil contracts Current liabilities — Derivative instruments — 2,963 Gas contracts Current liabilities — Derivative instruments — 3,809 Oil contracts Non-current liabilities — Derivative instruments — 12,829 Gas contracts Non-current liabilities — Derivative instruments — 3,406 Total gross amounts presented in the balance sheet 207,658 23,007 Less: gross amounts not offset in the balance sheet (23,007 ) (23,007 ) Net amount $ 184,651 $ — December 31, 2019 (in thousands) Balance Sheet Location Asset Liability Oil contracts Current assets — Derivative instruments $ 1,624 $ — Gas contracts Current assets — Derivative instruments 16,320 — Oil contracts Non-current assets — Derivative instruments 580 — Oil contracts Current liabilities — Derivative instruments — 16,681 Oil contracts Non-current liabilities — Derivative instruments — 824 Gas contracts Non-current liabilities — Derivative instruments — 194 Total gross amounts presented in the balance sheet 18,524 17,699 Less: gross amounts not offset in the balance sheet (9,865 ) (9,865 ) Net amount $ 8,659 $ 7,834 We are exposed to financial risks associated with our derivative contracts from non-performance by our counterparties. We mitigate our exposure to any single counterparty by contracting with a number of financial institutions, each of which has a high credit rating and is a member of our bank credit facility. Our member banks do not require us to post collateral for our derivative liability positions, nor do we require our counterparties to post collateral for our benefit. In the future we may enter into derivative instruments with counterparties outside our bank group to obtain competitive terms and to spread counterparty risk.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The FASB has established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy consists of three broad levels. Level 1 inputs are the highest priority and consist of unadjusted quoted prices in active markets for identical assets and liabilities. Level 2 inputs are other than quoted prices that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable. The following table provides fair value measurement information for certain assets and liabilities as of March 31, 2020 and December 31, 2019 : March 31, 2020 December 31, 2019 (in thousands) Book Value Fair Value Book Value Fair Value Financial Assets (Liabilities): 4.375% Notes due 2024 $ (750,000 ) $ (591,075 ) $ (750,000 ) $ (792,225 ) 3.90% Notes due 2027 $ (750,000 ) $ (502,200 ) $ (750,000 ) $ (778,050 ) 4.375% Notes due 2029 $ (500,000 ) $ (334,800 ) $ (500,000 ) $ (530,400 ) Derivative instruments — assets $ 207,658 $ 207,658 $ 18,524 $ 18,524 Derivative instruments — liabilities $ (23,007 ) $ (23,007 ) $ (17,699 ) $ (17,699 ) Assessing the significance of a particular input to the fair value measurement requires judgment, including the consideration of factors specific to the asset or liability. The fair value (Level 1) of our fixed rate notes was based on quoted market prices. The fair value of our derivative instruments (Level 2) was estimated using discounted cash flow and option pricing models. These models use certain observable variables including forward prices, volatility curves, interest rates, and credit ratings and spreads. The fair value estimates are adjusted relative to non-performance risk as appropriate. See Note 3 for further information on the fair value of our derivative instruments. Other Financial Instruments The carrying amounts of our cash, cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximate fair value because of the short-term maturities and/or liquid nature of these assets and liabilities. Included in “Accrued liabilities — Other” at March 31, 2020 are accrued operating expenses (e.g. production, transportation, and gathering expenses) of approximately $71.7 million . Included in “Accrued liabilities — Other” at December 31, 2019 are: (i) accrued operating expenses (e.g. production, transportation, and gathering expenses) of approximately $74.7 million and (ii) accrued general and administrative costs, primarily payroll-related, of approximately $43.3 million . Most of our accounts receivable balances are uncollateralized and result from transactions with other companies in the oil and gas industry. Concentration of customers may impact our overall credit risk because our customers may be similarly affected by changes in economic or other conditions within the industry. We conduct credit analyses prior to making any sales to new customers or increasing credit for existing customers and may require parent company guarantees, letters of credit, or prepayments when deemed necessary. Pursuant to the operating agreements we have with the co-owners of our operated properties, we have the right to realize amounts due to us from the co-owners by netting the co-owners’ production revenues from those properties. We routinely assess the recoverability of all material accounts receivable and accrue a reserve to the allowance for doubtful accounts based on our estimation of expected losses over the life of the receivables. At March 31, 2020 and December 31, 2019 , the allowance for doubtful accounts was $3.8 million and $3.6 million , respectively.

CAPITAL STOCK

CAPITAL STOCK	3 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
CAPITAL STOCK	CAPITAL STOCK Authorized capital stock consists of 200 million shares of common stock and 15 million shares of preferred stock. At March 31, 2020 , there were 102.1 million shares of common stock outstanding and 62.5 thousand shares of 8.125% Series A Cumulative Perpetual Convertible Preferred Stock outstanding (the “Convertible Preferred Stock”). Holders of the Convertible Preferred Stock are entitled to receive, when, as, and if declared by the Board, cumulative cash dividends at an annual rate of 8.125% of each share’s liquidation preference of $1,000 . In the event of any liquidation, winding up, or dissolution of Cimarex, each holder will be entitled to receive in respect of its shares, up to each share’s liquidation preference, with the total liquidation preference being $62.5 million in the aggregate, after satisfaction of liabilities and any senior stock (of which there is currently none) and before any payment or distribution to holders of junior stock (including common stock). Each holder has the right at any time, at its option, to convert any or all of such holder’s shares of Convertible Preferred Stock into a certain number of shares of Cimarex common stock based on a conversion rate that adjusts upon the occurrence of certain events, including the payment of cash dividends to common shareholders, plus $471.40 in cash per share of Convertible Preferred Stock. The March 31, 2020 conversion rate was 8.17712 shares of common stock for each share of Convertible Preferred Stock. As a result of the cash component included in the redemption feature of the Convertible Preferred Stock conversion option, with such conversion not solely within our control, the instruments are classified as Redeemable preferred stock in temporary equity on the Condensed Consolidated Balance Sheets. Dividends Common Stock In February 2020 , our Board of Directors declared a cash dividend of $0.22 per share of common stock. The dividend is payable on or before June 1, 2020 to stockholders of record on May 15, 2020 . Dividends declared are recorded as a reduction of retained earnings to the extent retained earnings are available at the close of the period prior to the date of the declared dividend. Dividends in excess of retained earnings are recorded as a reduction of additional paid-in capital. The $22.5 million dividend declared during the first quarter 2020 was recorded as a reduction of retained earnings and is included as a payable in “Accrued liabilities — Other” on the Condensed Consolidated Balance Sheet at March 31, 2020 . Nonforfeitable dividends paid on stock awards that subsequently forfeit are reclassified out of retained earnings or additional paid-in capital, as applicable, to stock compensation expense in the period in which the forfeitures occur. Future dividend payments will depend on our level of earnings, financial requirements, and other factors considered relevant by our Board of Directors. Preferred Stock In February 2020 , our Board of Directors declared a cash dividend of $20.3125 per share of Convertible Preferred Stock. The dividend was paid in April to stockholders of record on April 1, 2020 . This $1.3 million dividend was recorded as a reduction of retained earnings and is included as a payable in “Accrued liabilities — Other” on the Condensed Consolidated Balance Sheet at March 31, 2020

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2020
Retirement Benefits [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION We have recognized stock-based compensation cost as shown below for the periods indicated. Three Months Ended (in thousands) 2020 2019 Restricted stock awards: Performance stock awards $ 4,060 $ 5,394 Service-based stock awards 7,377 7,231 11,437 12,625 Stock option awards 498 622 Total stock compensation cost 11,935 13,247 Less amounts capitalized to oil and gas properties (5,541 ) (6,534 ) Stock compensation expense $ 6,394 $ 6,713

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	3 Months Ended
	Mar. 31, 2020
Asset Retirement Obligation [Abstract]
ASSET RETIREMENT OBLIGATIONS	ASSET RETIREMENT OBLIGATIONS We recognize the present value of the fair value of liabilities for retirement obligations associated with tangible long-lived assets in the period in which there is a legal obligation associated with the retirement of such assets and the amount can be reasonably estimated. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. This liability includes costs related to the plugging and abandonment of wells, the removal of facilities and equipment, and site restorations. Subsequent to initial measurement, the asset retirement liability is accreted each period. If there is a change in the estimated cost or timing of retirement, a revision is recorded to both the asset retirement obligation and the capitalized asset retirement cost. Capitalized costs are included as a component of the depreciation and depletion calculations. The following table reflects the components of the change in the carrying amount of the asset retirement obligation for the three months ended March 31, 2020 : (in thousands) Three Months Ended Asset retirement obligation at January 1, 2020 $ 181,869 Liabilities incurred 1,080 Liability settlements and disposals (7,440 ) Accretion expense 1,925 Revisions of estimated liabilities 2,800 Asset retirement obligation at March 31, 2020 180,234 Less current obligation (22,841 ) Long-term asset retirement obligation $ 157,393

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS (LOSS) PER SHARE The calculations of basic and diluted net earnings (loss) per common share under the two-class method are presented below for the periods indicated: Three Months Ended March 31, 2020 2019 (in thousands, except per share information) Income (Numerator) Shares (Denominator) Per-Share Amount Income (Numerator) Shares (Denominator) Per-Share Amount Net (loss) income $ (774,282 ) $ 26,316 Less: dividends and net income attributable to participating securities (1) (550 ) (445 ) Less: preferred stock dividends (1,269 ) (1,269 ) Basic (loss) earnings per share (Loss) income available to common stockholders (776,101 ) 99,842 $ (7.77 ) 24,602 95,922 $ 0.26 Effects of dilutive securities Options (2) — — — 10 Diluted (loss) earnings per share (Loss) income available to common stockholders and assumed conversions $ (776,101 ) 99,842 $ (7.77 ) $ 24,602 95,932 $ 0.26 ________________________________________ (1) Participating securities do not have a contractual obligation to share in the losses of the entity, therefore, net losses are not attributable to participating securities. (2) Inclusion of certain potential common shares would have an anti-dilutive effect, therefore, these shares were excluded from the calculations of diluted earnings (loss) per share. Excluded from the calculation for the three months ended March 31, 2020 were 474.5 thousand potential common shares from the assumed exercise of employee stock options, 511.1 thousand potential common shares from the assumed conversion of the Convertible Preferred Stock, and 8.8 thousand potential common shares from the assumed vesting of incremental shares of unvested restricted stock awards. Excluded from the calculation for the three months ended March 31, 2019 were 388.6 thousand potential common shares from the assumed exercise of employee stock options and 502.6 thousand potential common shares from the assumed conversion of the Convertible Preferred Stock.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of our provision for income taxes and our combined federal and state effective income tax rates were as follows: Three Months Ended (in thousands) 2020 2019 Current tax benefit $ (198 ) $ — Deferred tax (benefit) expense (16,357 ) 8,073 $ (16,555 ) $ 8,073 Combined federal and state effective income tax rate 2.1 % 23.5 % At December 31, 2019 , we had a U.S. net tax operating loss carryforward of approximately $1.93 billion , which will expire in tax years 2032 through 2039. We believe that the carryforward will be utilized before it expires. We also had enhanced oil recovery and marginal well credits of $3.9 million at December 31, 2019 . On March 1, 2019 , we completed the acquisition of Resolute. For federal income tax purposes, the acquisition was a tax-free merger whereby Cimarex acquired carryover tax basis in Resolute’s tax assets and liabilities. As of December 31, 2019 , we recorded a net deferred tax liability of $31.1 million to reflect the difference between the fair value of Resolute’s assets and liabilities recorded in the acquisition and the income tax basis of the assets and liabilities assumed. As of March 31, 2020 , no adjustments have been made to the net deferred tax liability reported at December 31, 2019 . See Note 13 for more information regarding the purchase price allocation. The net deferred tax liability includes certain deferred tax assets net of valuation allowances. The acquired tax attributes include federal net operating loss, capital loss, and enhanced oil recovery tax credit carryforwards. The carryforwards are subject to an annual limitation under Internal Revenue Code Section 382. At March 31, 2020 , we had no unrecognized tax benefits that would impact our effective tax rate and have made no provisions for interest or penalties related to uncertain tax positions. The tax years 2016 through 2018 remain open to examination by the Internal Revenue Service of the United States. We file tax returns with various state taxing authorities, which remain open to examination for tax years 2015 through 2018. Our combined federal and state effective income tax rates differ from the U.S. federal statutory rate of 21% primarily due to state income taxes and non-deductible expenses. The combined federal and state effective income tax rate for the three months ended March 31, 2020 is impacted by the tax effects of the impairment of the non-deductible goodwill recorded as a discrete item during the quarter. As such, we believe our effective tax rate will be higher in subsequent periods.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES At March 31, 2020 , we had estimated commitments of approximately: (i) $239.2 million to finish drilling, completing, or performing other work on wells and various other infrastructure projects in progress and (ii) $14.4 million to finish gathering system and water facilities construction in progress. At March 31, 2020 , we had firm sales contracts to deliver approximately 558.5 Bcf of gas over the next 11.3 years . If we do not deliver this gas, our estimated financial commitment, calculated using April 2020 index prices, would be approximately $519.6 million . The value of this commitment will fluctuate due to price volatility and actual volumes delivered. In connection with gas gathering and processing agreements, we have volume commitments over the next 8.8 years . If we do not deliver the committed gas or NGLs, as the case may be, the estimated maximum amount that would be payable under these commitments, calculated as of March 31, 2020 , would be approximately $691.1 million . We have minimum volume delivery commitments associated with agreements to reimburse connection costs to various pipelines. If we do not deliver this gas or oil, as the case may be, the estimated maximum amount that would be payable under these commitments, calculated as of March 31, 2020 , would be approximately $111.4 million . Of this total, we have accrued a liability of $4.4 million , representing the estimated amount we will have to pay due to insufficient forecasted volumes at particular connection points. At March 31, 2020 , we have various firm transportation agreements for gas and oil pipeline capacity with end dates ranging from 2021 - 2028 under which we will have to pay an estimated $66.5 million over the remaining terms of the agreements. All of the noted commitments were routine and made in the ordinary course of our business. Litigation We have various litigation matters related to the ordinary course of our business. We assess the probability of estimable amounts related to these matters in accordance with guidance established by the FASB and adjust our accruals accordingly. Though some of the related claims may be significant, we believe the resolution of them, individually or in the aggregate, would not have a material adverse effect on our financial condition or results of operations after consideration of current accruals.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Three Months Ended (in thousands) 2020 2019 Cash paid during the period for: Interest (net of capitalized amounts of $7,328 and $740, respectively) (1) $ 5,559 $ 18,588 Income taxes $ — $ 6 Cash received for income tax refunds $ 204 $ 1 ________________________________________ (1) The three months ended March 31, 2019 includes $17.6 million in interest paid upon the redemption of Resolute’s senior notes and credit facility on March 1, 2019

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Helmerich & Payne, Inc. (“H&P”) provides contract drilling services to Cimarex. Cimarex incurred drilling costs of approximately $15.6 million and $24.5 million related to these services during the three months ended March 31, 2020 and 2019 , respectively. Hans Helmerich, a director of Cimarex, is Chairman of the Board of Directors of H&P.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS On March 1, 2019 , we completed the acquisition of Resolute Energy Corporation, an independent oil and gas company focused on the acquisition and development of unconventional oil and gas properties in the Delaware Basin area of the Permian Basin of west Texas. The principal factors considered by management in making this acquisition included: (i) our expectation that Resolute’s assets’ attractive returns are competitive with those in our existing portfolio, (ii) the opportunity to apply our experience and learnings from already operating in this area to generating productivity gains from Resolute’s properties, (iii) the ability to increase our acreage position in the Delaware Basin, and (iv) the expectation that the acquisition will be financially accretive. We acquired 100% of the outstanding common shares and voting interests of Resolute in a cash and stock transaction. The acquisition date fair value of the consideration transferred totaled $820.3 million , which consisted of cash, common stock, and a newly created series of preferred stock (see Note 5 for more information on the preferred stock) as follows: (in thousands) Fair Value of Consideration Transferred Cash $ 325,677 Common stock (5,652 shares issued) 413,015 Preferred stock (63 shares issued) 81,620 $ 820,312 The fair value of the common stock issued as part of the consideration was determined on the basis of the closing market price of Cimarex common stock on the acquisition date. The fair value of the preferred stock issued as part of the consideration was determined using a multiple probability simulation model. Purchase Price Allocation The Resolute acquisition has been accounted for as a business combination, using the acquisition method. The following table presents the allocation of the Resolute purchase price to the identifiable assets acquired and liabilities assumed based on the fair values at the acquisition date, with any excess of the purchase price over the estimated fair value of the identifiable net assets acquired recorded to goodwill. The table also presents the adjustments made to the purchase price allocation during the 12 -month period following the acquisition date. The purchase price allocation was finalized during the three months ended March 31, 2020 . The most significant adjustment was made to reduce the fair value of the unproved oil and gas properties acquired by $30.3 million based on the finalization of the quantity of acres acquired. The tax effect of this adjustment reduced the related deferred income taxes by $6.9 million . The completion of the final Resolute tax returns provided the underlying tax basis of Resolute’s assets and liabilities and net operating losses and resulted in a reduction of the deferred tax liability of $24.4 million . The remaining adjustments were related to finalization of working capital balances. The offset to all of the adjustments was goodwill. The following table sets forth the purchase price allocation: (in thousands) March 1, 2019 Adjustments March 1, 2020 Cash $ 41,236 $ — $ 41,236 Accounts receivable 50,739 11,521 62,260 Other current assets 13,280 (1,176 ) 12,104 Proved oil and gas properties 692,600 — 692,600 Unproved oil and gas properties 1,054,200 (30,314 ) 1,023,886 Fixed assets 5,355 (32 ) 5,323 Goodwill 107,341 (13,126 ) 94,215 Other assets 142 — 142 Current liabilities (202,735 ) 1,790 (200,945 ) Long-term debt (870,000 ) — (870,000 ) Deferred income taxes (62,409 ) 31,337 (31,072 ) Asset retirement obligation (9,437 ) — (9,437 ) Total identifiable net assets $ 820,312 $ — $ 820,312 In connection with the acquisition, we assumed, and immediately repaid, $870.0 million principal amount of long-term debt consisting of $600.0 million of senior notes and $270.0 million of credit facility borrowings. On March 1, 2019 , we repaid Resolute’s credit facility borrowings, delivered a notice of optional redemption of Resolute’s senior notes for an April 1, 2019 redemption date, and irrevocably deposited with a trustee the full amount of funds to repay the aggregate outstanding senior notes principal balance plus accrued and unpaid interest, incurring a $4.3 million loss on early extinguishment of debt. The cash consideration transferred and the repayment of Resolute’s long-term debt was funded using cash on hand and borrowings on our Credit Facility. We subsequently repaid the borrowings on our Credit Facility using the net proceeds from the March 8, 2019 issuance of $500 million aggregate principal amount of 4.375% senior unsecured notes. Goodwill of $94.2 million was recognized in the purchase price allocation principally as a result of recording net deferred tax liabilities arising from the difference between the tax basis and the purchase price allocated to Resolute’s assets and liabilities, and anticipated opportunities for cost savings through administrative and operational synergies. We concluded that goodwill was impaired at March 31, 2020 (see Note 1 for more information regarding the goodwill impairment). Acquisition-related costs incurred in the three months ended March 31, 2019 were $8.3 million . These costs, which were comprised primarily of advisory and legal fees, are included in the “Other operating expense, net” line item in the Condensed Consolidated Statement of Operations and Comprehensive Income. Pro Forma Financial Information The results of Resolute’s operations have been included in our consolidated financial statements since the March 1, 2019 acquisition date. The following supplemental pro forma information for the three months ended March 31, 2019 has been prepared to give effect to the Resolute acquisition as if it had occurred on January 1, 2018. The information below reflects pro forma adjustments based on available information and certain assumptions that we believe are reasonable, including (i) the depletion of the combined company’s proved oil and gas properties, (ii) the capitalization of interest expense, and (iii) the estimated tax impacts of the pro forma adjustments. Additionally, pro forma earnings were adjusted to exclude acquisition-related costs incurred by Cimarex of $8.3 million and transaction-related costs incurred by Resolute of $60.0 million . The pro forma results of operations do not include any cost savings or other synergies that may result from the acquisition or any estimated costs that have been or will be incurred by Cimarex to integrate the Resolute assets. The pro forma financial data has not been adjusted to reflect any other acquisitions or dispositions made during the period presented as their results were not deemed material. The pro forma information is not necessarily indicative of the results that might have occurred had the transaction actually taken place on January 1, 2018 and is not intended to be a projection of future results. Future results may vary significantly from the results reflected in the following pro forma information because of normal production declines, changes in commodity prices, future acquisitions and divestitures, future development and exploration activities, and other factors. (in thousands, except per share information) Three Months Ended March 31, 2019 Revenue $ 630,093 Net income $ 12,617 Net income per common share: Basic $ 0.11 Diluted $ 0.11

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION Cimarex Energy Co. (“Cimarex,” “we,” or “us”), a Delaware corporation, is an independent oil and gas exploration and production company. Our operations are mainly located in Texas, Oklahoma, and New Mexico. The accompanying unaudited financial statements have been prepared pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain disclosures required by accounting principles generally accepted in the United States and normally included in Annual Reports on Form 10-K have been omitted. Although management believes that our disclosures in these interim financial statements are adequate, they should be read in conjunction with the financial statements, summary of significant accounting policies, and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2019 . In the opinion of management, the accompanying financial statements reflect all adjustments necessary to fairly present our financial position, results of operations, and cash flows for the periods and as of the dates shown. The accounts of Cimarex and its subsidiaries are presented in the accompanying financial statements, with intercompany balances and transactions eliminated in consolidation. Certain amounts in the prior year financial statements have been reclassified to conform to the 2020 financial statement presentation.
Use of Estimates	Use of Estimates Areas of significance requiring the use of management’s judgments include the estimation of proved oil and gas reserves used in calculating depletion, the estimation of future net revenues used in computing ceiling test limitations, the estimation of future abandonment obligations used in recording asset retirement obligations, and the assessment of goodwill. Estimates and judgments also are required in determining allowances for doubtful accounts, impairments of unproved properties and other assets, valuation of deferred tax assets, fair value measurements, lease liabilities, and contingencies.
Oil and Gas Well Equipment and Supplies and Oil and Gas Properties	Oil and Gas Well Equipment and Supplies Our oil and gas well equipment and supplies are valued at the lower of cost and net realizable value, where net realizable value is estimated selling prices in the ordinary course of business, less reasonably predictable costs of disposal and transportation. Declines in the price of oil and gas well equipment and supplies in future periods could cause us to recognize impairments on these assets. An impairment would not affect cash flow from operating activities, but would adversely affect our net income and stockholders’ equity. Oil and Gas Properties We use the full cost method of accounting for our oil and gas operations. All costs associated with property acquisition, exploration, and development activities are capitalized. Under the full cost method of accounting, we are required to perform a quarterly ceiling test calculation to test our oil and gas properties for possible impairment. If the net capitalized cost of our oil and gas properties, as adjusted for income taxes, exceeds the ceiling limitation, the excess is charged to expense. The ceiling limitation is equal to the sum of: (i) the present value discounted at 10% of estimated future net revenues from proved reserves, (ii) the cost of properties not being amortized, and (iii) the lower of cost or estimated fair value of unproven properties included in the costs being amortized, as adjusted for income taxes. We currently do not have any unproven properties that are being amortized. Estimated future net revenues are determined based on trailing twelve-month average commodity prices and estimated proved reserve quantities, operating costs, and capital expenditures. The quarterly ceiling test is primarily impacted by commodity prices, changes in estimated reserve quantities, overall exploration and development costs, and deferred taxes. If pricing conditions decline, or if there is a negative impact on one or more of the other components of the calculation, we may incur a full cost ceiling test impairment. The calculated ceiling limitation is not intended to be indicative of the fair market value of our proved reserves or future results. Impairment charges do not affect cash flow from operating activities, but do adversely affect our net income and various components of our balance sheet. Any impairment of oil and gas properties is not reversible at a later date.
Goodwill	Goodwill Goodwill represents the excess of the purchase price of business combinations over the fair value of the net assets acquired and is tested for impairment at least annually. In performing the goodwill test, we compare the fair value of our reporting unit with its carrying amount. If the carrying amount of the reporting unit were to exceed its fair value, an impairment charge would be recognized in the amount of this excess, limited to the total amount of goodwill allocated to that reporting unit. We evaluate our goodwill for impairment in the fourth quarter of each year and whenever events or changes in circumstances indicate the possibility that goodwill may be impaired. Based upon our assessment as of October 31, 2019, goodwill was not impaired. However, during the quarter ended March 31, 2020 the company’s market capitalization declined significantly driven by current macroeconomic and geopolitical conditions including the collapse of oil prices driven by surplus supply and decreased demand caused by the COVID-19 pandemic. In addition, the uncertainty related to oil demand continues to have a significant impact on our investment and operating decisions. Based on these events, we concluded that a triggering event occurred, which required us to perform an interim quantitative impairment test for goodwill as of March 31, 2020
Revenue Recognition	Revenue Recognition Oil, Gas, and NGL Sales Revenue is recognized from the sales of oil, gas, and NGLs when the customer obtains control of the product, when we have no further obligations to perform related to the sale, and when collectability is probable. All of our sales of oil, gas, and NGLs are made under contracts with customers, which typically include variable consideration based on monthly pricing tied to local indices and monthly volumes delivered. The nature of our contracts with customers does not require us to constrain that variable consideration or to estimate the amount of transaction price attributable to future performance obligations for accounting purposes. As of March 31, 2020 , we had open contracts with customers with terms of one month to multiple years, as well as “evergreen” contracts that renew on a periodic basis if not canceled by us or the customer. Performance obligations under our contracts with customers are typically satisfied at a point-in-time through monthly delivery of oil, gas, and/or NGLs. Our contracts with customers typically require payment within one month of delivery. Our gas is sold under various contracts. Under these contracts the gas and its components, including residue gas and NGLs, may be sold to a single purchaser or separate purchasers. Regardless of the contract, we are compensated for the value of the residue gas and NGLs at current market prices for each product. Depending on the specific contract terms, certain gathering, treating, transportation, processing, and other charges may be deducted against the prices we receive for the products. Our oil typically is sold at specific delivery points under contract terms that also are common in our industry. Gas Gathering When we transport and/or process third-party gas associated with our equity gas, we recognize revenue for the fees charged to third-parties for such services. Gas Marketing When we market and sell gas for other working interest owners, we act as agent under short-term sales and supply agreements and may earn a fee for such services. Revenues from such services are recognized as gas is delivered. Gas Imbalances Revenue from the sale of gas is recorded on the basis of gas actually sold by or for us. If our aggregate sales volumes for a well are greater (or less) than our proportionate share of production from the well, a liability (or receivable) is established to the extent there are insufficient proved reserves available to make-up the overproduced (or underproduced) imbalance. Imbalances have not been significant in the periods presented.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Reclassifications	The following table shows the reclassifications made: Three Months Ended March 31, 2019 (in thousands) Prior Year Presentation Current Year Reclassifications Current Year Presentation Production $ 77,233 $ 1,171 $ 78,404 Transportation, processing, and other operating $ 53,608 5,967 $ 59,575 Gas gathering and other $ 12,320 (7,138 ) $ 5,182 $ —
Schedule of Changes in Carrying Amount of Goodwill	The following table reflects components of the change in the carrying amount of goodwill for the three months ended March 31, 2020 : (in thousands) Three Months Ended Goodwill balance at January 1, 2020 $ 716,865 Resolute acquisition purchase price adjustments (Note 13) (2,418 ) Impairment (714,447 ) Goodwill balance at March 31, 2020 $ —

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2020
Long-term Debt, Unclassified [Abstract]
Schedule of Long-Term Debt	Long-term debt at March 31, 2020 and December 31, 2019 consisted of the following: March 31, 2020 December 31, 2019 (in thousands) Principal Unamortized Debt Issuance Costs and Discounts (1) Long-term Debt, net Principal Unamortized Debt Issuance Costs and Discounts (1) Long-term Debt, net 4.375% Notes due 2024 $ 750,000 $ (3,316 ) $ 746,684 $ 750,000 $ (3,535 ) $ 746,465 3.90% Notes due 2027 750,000 (6,105 ) 743,895 750,000 (6,289 ) 743,711 4.375% Notes due 2029 500,000 (4,821 ) 495,179 500,000 (4,930 ) 495,070 $ 2,000,000 $ (14,242 ) $ 1,985,758 $ 2,000,000 $ (14,754 ) $ 1,985,246 ________________________________________ (1) The 4.375% Notes due 2024 were issued at par, therefore, the amounts shown in the table are for unamortized debt issuance costs only. At March 31, 2020 , the unamortized debt issuance costs and discount related to the 3.90% Notes due 2027 were $4.7 million and $1.4 million , respectively. At March 31, 2020 , the unamortized debt issuance costs and discount related to the 4.375% Notes due 2029 were $4.2 million and $0.6 million , respectively. At December 31, 2019 , the unamortized debt issuance costs and discount related to the 3.90% Notes due 2027 were $4.8 million and $1.5 million , respectively. At December 31, 2019 , the unamortized debt issuance costs and discount related to the 4.375% Notes due 2029 were $4.3 million and $0.6 million , respectively.

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedges, Assets [Abstract]
Schedule of Outstanding Hedging Contracts Relative to Future Production	The following tables summarize our outstanding derivative contracts as of March 31, 2020 : Oil Collars First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: WTI (1) Volume (Bbls) — 2,821,000 3,588,000 3,588,000 9,997,000 Weighted Avg Price - Floor $ — $ 50.43 $ 41.47 $ 41.47 $ 44.00 Weighted Avg Price - Ceiling $ — $ 61.55 $ 50.32 $ 50.32 $ 53.49 2021: WTI (1) Volume (Bbls) 2,790,000 1,911,000 1,104,000 1,104,000 6,909,000 Weighted Avg Price - Floor $ 39.27 $ 34.38 $ 29.67 $ 29.67 $ 34.85 Weighted Avg Price - Ceiling $ 47.10 $ 41.41 $ 36.25 $ 36.25 $ 42.06 ________________________________________ (1) The index price for these collars is West Texas Intermediate (“WTI”) as quoted on the New York Mercantile Exchange (“NYMEX”). Gas Collars First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: PEPL (1) Volume (MMBtu) — 5,460,000 6,440,000 6,440,000 18,340,000 Weighted Avg Price - Floor $ — $ 1.90 $ 1.75 $ 1.75 $ 1.79 Weighted Avg Price - Ceiling $ — $ 2.28 $ 2.17 $ 2.17 $ 2.20 Perm EP (2) Volume (MMBtu) — 2,730,000 5,520,000 5,520,000 13,770,000 Weighted Avg Price - Floor $ — $ 1.40 $ 1.33 $ 1.33 $ 1.35 Weighted Avg Price - Ceiling $ — $ 1.82 $ 1.61 $ 1.61 $ 1.65 Waha (3) Volume (MMBtu) — 2,730,000 3,680,000 3,680,000 10,090,000 Weighted Avg Price - Floor $ — $ 1.57 $ 1.28 $ 1.28 $ 1.35 Weighted Avg Price - Ceiling $ — $ 1.97 $ 1.54 $ 1.54 $ 1.65 2021: PEPL (1) Volume (MMBtu) 4,500,000 3,640,000 1,840,000 1,840,000 11,820,000 Weighted Avg Price - Floor $ 1.71 $ 1.67 $ 1.70 $ 1.70 $ 1.69 Weighted Avg Price - Ceiling $ 2.11 $ 2.06 $ 2.12 $ 2.12 $ 2.10 Perm EP (2) Volume (MMBtu) 3,600,000 3,640,000 1,840,000 1,840,000 10,920,000 Weighted Avg Price - Floor $ 1.33 $ 1.33 $ 1.50 $ 1.50 $ 1.38 Weighted Avg Price - Ceiling $ 1.58 $ 1.58 $ 1.80 $ 1.80 $ 1.66 Waha (3) Volume (MMBtu) 3,600,000 3,640,000 1,840,000 1,840,000 10,920,000 Weighted Avg Price - Floor $ 1.28 $ 1.28 $ 1.50 $ 1.50 $ 1.35 Weighted Avg Price - Ceiling $ 1.54 $ 1.54 $ 1.75 $ 1.75 $ 1.61 ________________________________________ (1) The index price for these collars is Panhandle Eastern Pipe Line, Tex/OK Mid-Continent Index (“PEPL”) as quoted in Platt’s Inside FERC. (2) The index price for these collars is El Paso Natural Gas Company, Permian Basin Index (“Perm EP”) as quoted in Platt’s Inside FERC. (3) The index price for these collars is Waha West Texas Natural Gas Index (“Waha”) as quoted in Platt’s Inside FERC. Oil Basis Swaps First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: WTI Midland (1) Volume (Bbls) — 2,366,000 2,392,000 2,392,000 7,150,000 Weighted Avg Differential (2) $ — $ 0.44 $ 0.36 $ 0.36 $ 0.39 2021: WTI Midland (1) Volume (Bbls) 1,620,000 1,092,000 644,000 644,000 4,000,000 Weighted Avg Differential (2) $ 0.21 $ 0.03 $ (0.68 ) $ (0.68 ) $ (0.13 ) ________________________________________ (1) The index price we pay under these basis swaps is WTI Midland as quoted by Argus Americas Crude. (2) The index price we receive under these basis swaps is WTI as quoted on the NYMEX plus or minus, as applicable, the weighted average differential shown in the table.
Schedule of Derivative Contracts Entered into Subsequent to Balance Sheet Date	The following tables summarize our derivative contracts entered into subsequent to March 31, 2020 through May 8, 2020: Oil Collars First Second Third Fourth Quarter Total 2020: WTI (1) Volume (Bbls) — 304,000 184,000 184,000 672,000 Wtd Avg Price - Floor $ — $ 28.39 $ 30.00 $ 30.00 $ 29.27 Wtd Avg Price - Ceiling $ — $ 34.91 $ 40.50 $ 40.50 $ 37.97 2021: WTI (1) Volume (Bbls) 180,000 182,000 184,000 184,000 730,000 Wtd Avg Price - Floor $ 30.00 $ 30.00 $ 30.00 $ 30.00 $ 30.00 Wtd Avg Price - Ceiling $ 40.50 $ 40.50 $ 40.50 $ 40.50 $ 40.50 ________________________________________ (1) The index price for these collars is WTI as quoted on the NYMEX. Gas Collars First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: PEPL (1) Volume (MMBtu) — 300,000 920,000 920,000 2,140,000 Weighted Avg Price - Floor $ — $ 1.78 $ 1.78 $ 1.78 $ 1.78 Weighted Avg Price - Ceiling $ — $ 2.18 $ 2.18 $ 2.18 $ 2.18 Perm EP (2) Volume (MMBtu) — 300,000 920,000 920,000 2,140,000 Weighted Avg Price - Floor $ — $ 1.52 $ 1.52 $ 1.52 $ 1.52 Weighted Avg Price - Ceiling $ — $ 1.80 $ 1.80 $ 1.80 $ 1.80 Waha (3) Volume (MMBtu) — 300,000 920,000 920,000 2,140,000 Weighted Avg Price - Floor $ — $ 1.50 $ 1.50 $ 1.50 $ 1.50 Weighted Avg Price - Ceiling $ — $ 1.76 $ 1.76 $ 1.76 $ 1.76 2021: PEPL (1) Volume (MMBtu) 900,000 910,000 920,000 920,000 3,650,000 Weighted Avg Price - Floor $ 1.78 $ 1.78 $ 1.78 $ 1.78 $ 1.78 Weighted Avg Price - Ceiling $ 2.18 $ 2.18 $ 2.18 $ 2.18 $ 2.18 Perm EP (2) Volume (MMBtu) 900,000 910,000 920,000 920,000 3,650,000 Weighted Avg Price - Floor $ 1.52 $ 1.52 $ 1.52 $ 1.52 $ 1.52 Weighted Avg Price - Ceiling $ 1.80 $ 1.80 $ 1.80 $ 1.80 $ 1.80 Waha (3) Volume (MMBtu) 900,000 910,000 920,000 920,000 3,650,000 Weighted Avg Price - Floor $ 1.50 $ 1.50 $ 1.50 $ 1.50 $ 1.50 Weighted Avg Price - Ceiling $ 1.76 $ 1.76 $ 1.76 $ 1.76 $ 1.76 ________________________________________ (1) The index price for these collars is PEPL as quoted in Platt’s Inside FERC. (2) The index price for these collars is Perm EP as quoted in Platt’s Inside FERC. (3) The index price for these collars is Waha as quoted in Platt’s Inside FERC. Oil Basis Swaps First Quarter Second Quarter Third Quarter Fourth Quarter Total 2020: WTI Midland (1) Volume (Bbls) — 150,000 552,000 552,000 1,254,000 Weighted Avg Differential (2) $ — $ (0.59 ) $ (0.62 ) $ (0.62 ) $ (0.61 ) 2021: WTI Midland (1) Volume (Bbls) 540,000 546,000 552,000 552,000 2,190,000 Weighted Avg Differential (2) $ (0.62 ) $ (0.62 ) $ (0.62 ) $ (0.62 ) $ (0.62 ) ________________________________________ (1) The index price we pay under these basis swaps is WTI Midland as quoted by Argus Americas Crude. (2) The index price we receive under these basis swaps is WTI as quoted on the NYMEX plus or minus, as applicable, the weighted average differential shown in the table.
Schedule of Net (Gains) Losses from Settlements and Changes of Derivative Contracts	The following table presents the components of “(Gain) loss on derivative instruments, net” for the periods indicated. Three Months Ended (in thousands) 2020 2019 Decrease (increase) in fair value of derivative instruments, net: Gas contracts $ 12,493 $ (9,846 ) Oil contracts (196,319 ) 116,247 (183,826 ) 106,401 Cash (receipts) payments on derivative instruments, net: Gas contracts (11,719 ) 3,764 Oil contracts (31,395 ) 5,287 (43,114 ) 9,051 (Gain) loss on derivative instruments, net $ (226,940 ) $ 115,452
Schedule of Derivative Assets and Liabilities	The following tables present the amounts and classifications of our derivative assets and liabilities as of March 31, 2020 and December 31, 2019 , as well as the potential effect of netting arrangements on our recognized derivative asset and liability amounts. March 31, 2020 (in thousands) Balance Sheet Location Asset Liability Oil contracts Current assets — Derivative instruments $ 189,689 $ — Gas contracts Current assets — Derivative instruments 10,848 — Oil contracts Non-current assets — Derivative instruments 7,121 — Oil contracts Current liabilities — Derivative instruments — 2,963 Gas contracts Current liabilities — Derivative instruments — 3,809 Oil contracts Non-current liabilities — Derivative instruments — 12,829 Gas contracts Non-current liabilities — Derivative instruments — 3,406 Total gross amounts presented in the balance sheet 207,658 23,007 Less: gross amounts not offset in the balance sheet (23,007 ) (23,007 ) Net amount $ 184,651 $ — December 31, 2019 (in thousands) Balance Sheet Location Asset Liability Oil contracts Current assets — Derivative instruments $ 1,624 $ — Gas contracts Current assets — Derivative instruments 16,320 — Oil contracts Non-current assets — Derivative instruments 580 — Oil contracts Current liabilities — Derivative instruments — 16,681 Oil contracts Non-current liabilities — Derivative instruments — 824 Gas contracts Non-current liabilities — Derivative instruments — 194 Total gross amounts presented in the balance sheet 18,524 17,699 Less: gross amounts not offset in the balance sheet (9,865 ) (9,865 ) Net amount $ 8,659 $ 7,834

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurement Information for Certain Assets and Liabilities	The following table provides fair value measurement information for certain assets and liabilities as of March 31, 2020 and December 31, 2019 : March 31, 2020 December 31, 2019 (in thousands) Book Value Fair Value Book Value Fair Value Financial Assets (Liabilities): 4.375% Notes due 2024 $ (750,000 ) $ (591,075 ) $ (750,000 ) $ (792,225 ) 3.90% Notes due 2027 $ (750,000 ) $ (502,200 ) $ (750,000 ) $ (778,050 ) 4.375% Notes due 2029 $ (500,000 ) $ (334,800 ) $ (500,000 ) $ (530,400 ) Derivative instruments — assets $ 207,658 $ 207,658 $ 18,524 $ 18,524 Derivative instruments — liabilities $ (23,007 ) $ (23,007 ) $ (17,699 ) $ (17,699 )

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2020
Retirement Benefits [Abstract]
Schedule of Recognition of Non-Cash Stock-Based Compensation Costs	We have recognized stock-based compensation cost as shown below for the periods indicated. Three Months Ended (in thousands) 2020 2019 Restricted stock awards: Performance stock awards $ 4,060 $ 5,394 Service-based stock awards 7,377 7,231 11,437 12,625 Stock option awards 498 622 Total stock compensation cost 11,935 13,247 Less amounts capitalized to oil and gas properties (5,541 ) (6,534 ) Stock compensation expense $ 6,394 $ 6,713

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	3 Months Ended
	Mar. 31, 2020
Asset Retirement Obligation [Abstract]
Schedule of Asset Retirement Obligations	The following table reflects the components of the change in the carrying amount of the asset retirement obligation for the three months ended March 31, 2020 : (in thousands) Three Months Ended Asset retirement obligation at January 1, 2020 $ 181,869 Liabilities incurred 1,080 Liability settlements and disposals (7,440 ) Accretion expense 1,925 Revisions of estimated liabilities 2,800 Asset retirement obligation at March 31, 2020 180,234 Less current obligation (22,841 ) Long-term asset retirement obligation $ 157,393

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Calculations of Basic and Diluted Net Earnings (Loss) per Common Share	The calculations of basic and diluted net earnings (loss) per common share under the two-class method are presented below for the periods indicated: Three Months Ended March 31, 2020 2019 (in thousands, except per share information) Income (Numerator) Shares (Denominator) Per-Share Amount Income (Numerator) Shares (Denominator) Per-Share Amount Net (loss) income $ (774,282 ) $ 26,316 Less: dividends and net income attributable to participating securities (1) (550 ) (445 ) Less: preferred stock dividends (1,269 ) (1,269 ) Basic (loss) earnings per share (Loss) income available to common stockholders (776,101 ) 99,842 $ (7.77 ) 24,602 95,922 $ 0.26 Effects of dilutive securities Options (2) — — — 10 Diluted (loss) earnings per share (Loss) income available to common stockholders and assumed conversions $ (776,101 ) 99,842 $ (7.77 ) $ 24,602 95,932 $ 0.26 ________________________________________ (1) Participating securities do not have a contractual obligation to share in the losses of the entity, therefore, net losses are not attributable to participating securities. (2) Inclusion of certain potential common shares would have an anti-dilutive effect, therefore, these shares were excluded from the calculations of diluted earnings (loss) per share. Excluded from the calculation for the three months ended March 31, 2020 were 474.5 thousand potential common shares from the assumed exercise of employee stock options, 511.1 thousand potential common shares from the assumed conversion of the Convertible Preferred Stock, and 8.8 thousand potential common shares from the assumed vesting of incremental shares of unvested restricted stock awards. Excluded from the calculation for the three months ended March 31, 2019 were 388.6 thousand potential common shares from the assumed exercise of employee stock options and 502.6 thousand potential common shares from the assumed conversion of the Convertible Preferred Stock.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of the Provision for Income Taxes	The components of our provision for income taxes and our combined federal and state effective income tax rates were as follows: Three Months Ended (in thousands) 2020 2019 Current tax benefit $ (198 ) $ — Deferred tax (benefit) expense (16,357 ) 8,073 $ (16,555 ) $ 8,073 Combined federal and state effective income tax rate 2.1 % 23.5 %

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Three Months Ended (in thousands) 2020 2019 Cash paid during the period for: Interest (net of capitalized amounts of $7,328 and $740, respectively) (1) $ 5,559 $ 18,588 Income taxes $ — $ 6 Cash received for income tax refunds $ 204 $ 1 ________________________________________ (1) The three months ended March 31, 2019 includes $17.6 million in interest paid upon the redemption of Resolute’s senior notes and credit facility on March 1, 2019 .

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Schedule of Consideration Transferred in Acquisition	The acquisition date fair value of the consideration transferred totaled $820.3 million , which consisted of cash, common stock, and a newly created series of preferred stock (see Note 5 for more information on the preferred stock) as follows: (in thousands) Fair Value of Consideration Transferred Cash $ 325,677 Common stock (5,652 shares issued) 413,015 Preferred stock (63 shares issued) 81,620 $ 820,312
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table sets forth the purchase price allocation: (in thousands) March 1, 2019 Adjustments March 1, 2020 Cash $ 41,236 $ — $ 41,236 Accounts receivable 50,739 11,521 62,260 Other current assets 13,280 (1,176 ) 12,104 Proved oil and gas properties 692,600 — 692,600 Unproved oil and gas properties 1,054,200 (30,314 ) 1,023,886 Fixed assets 5,355 (32 ) 5,323 Goodwill 107,341 (13,126 ) 94,215 Other assets 142 — 142 Current liabilities (202,735 ) 1,790 (200,945 ) Long-term debt (870,000 ) — (870,000 ) Deferred income taxes (62,409 ) 31,337 (31,072 ) Asset retirement obligation (9,437 ) — (9,437 ) Total identifiable net assets $ 820,312 $ — $ 820,312
Schedule of Pro Forma information	(in thousands, except per share information) Three Months Ended March 31, 2019 Revenue $ 630,093 Net income $ 12,617 Net income per common share: Basic $ 0.11 Diluted $ 0.11

BASIS OF PRESENTATION - Narrati

BASIS OF PRESENTATION - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Oil and Gas, Delivery Commitment [Line Items]
Discount rate for calculating present value of estimated future net revenues from proved reserves (as a percent)	10.00%
Impairment of oil and gas properties	$ 333,651	$ 0
Minimum
Oil and Gas, Delivery Commitment [Line Items]
Oil and gas delivery commitments and contracts, period	1 month

BASIS OF PRESENTATION - Reclass

BASIS OF PRESENTATION - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Production	$ 87,236	$ 78,404
Transportation, processing, and other operating	54,922	59,575
Gas gathering and other	$ 8,298	5,182
Prior Year Presentation
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Production		77,233
Transportation, processing, and other operating		53,608
Gas gathering and other		12,320
Current Year Reclassifications
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Production		1,171
Transportation, processing, and other operating		5,967
Gas gathering and other		(7,138)
Total reclassifications		$ 0

BASIS OF PRESENTATION - Changes

BASIS OF PRESENTATION - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill [Roll Forward]
Goodwill balance at beginning of period	$ 716,865
Resolute acquisition purchase price adjustments (Note 13)	(2,418)
Impairment	(714,447)	$ 0
Goodwill balance at end of period	$ 0

LONG-TERM DEBT - Long-Term Debt

LONG-TERM DEBT - Long-Term Debt Outstanding (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019	Mar. 08, 2019	Apr. 30, 2017	Jun. 30, 2014
Debt Instrument
Long-term debt principal	$ 2,000,000,000	$ 2,000,000,000
Unamortized debt issuance costs and discount	(14,242,000)	(14,754,000)
Long-term debt, net	1,985,758,000	1,985,246,000
4.375% Notes due 2024
Debt Instrument
Long-term debt principal	750,000,000	750,000,000
Unamortized debt issuance costs and discount	(3,316,000)	(3,535,000)
Long-term debt, net	$ 746,684,000	746,465,000
4.375% Notes due 2024 | Senior Notes
Debt Instrument
Long-term debt principal					$ 750,000,000
Stated interest rate (as a percent)	4.375%				4.375%
3.90% Notes due 2027
Debt Instrument
Long-term debt principal	$ 750,000,000	750,000,000
Unamortized debt issuance costs and discount	(6,105,000)	(6,289,000)
Long-term debt, net	$ 743,895,000	743,711,000
3.90% Notes due 2027 | Senior Notes
Debt Instrument
Long-term debt principal				$ 750,000,000
Stated interest rate (as a percent)	3.90%			3.90%
Unamortized debt issuance costs	$ 4,700,000	4,800,000
Unamortized discount	1,400,000	1,500,000
4.375% Notes due 2029
Debt Instrument
Long-term debt principal	500,000,000	500,000,000
Unamortized debt issuance costs and discount	(4,821,000)	(4,930,000)
Long-term debt, net	$ 495,179,000	495,070,000
4.375% Notes due 2029 | Senior Notes
Debt Instrument
Long-term debt principal			$ 500,000,000
Stated interest rate (as a percent)	4.375%
Unamortized debt issuance costs	$ 4,200,000	4,300,000
Unamortized discount	$ 600,000	$ 600,000

LONG-TERM DEBT - Bank Debt Narr

LONG-TERM DEBT - Bank Debt Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Feb. 05, 2019
Line of Credit Facility [Line Items]
Unamortized debt issuance costs and discount	$ 14,242,000	$ 14,754,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Aggregate commitments under credit facility			$ 1,250,000,000
Maximum borrowing capacity including accordion feature			$ 1,500,000,000
Borrowings outstanding	0
Unused borrowing availability	1,248,000,000
Credit facility borrowings during period	101,000,000
Credit facility repayments during period	$ 101,000,000
Debt-to-capital ratio (as a percent)	65.00%
Unamortized debt issuance costs and discount	$ 3,900,000	$ 4,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Borrowings outstanding	$ 2,500,000
Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee rate (as a percent)	0.125%
Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee rate (as a percent)	0.35%
London Interbank Offered Rate (LIBOR) | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate margin (as a percent)	1.125%
London Interbank Offered Rate (LIBOR) | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate margin (as a percent)	2.00%
Base Rate | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate margin (as a percent)	0.125%
Base Rate | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate margin (as a percent)	1.00%

LONG-TERM DEBT - Senior Notes N

LONG-TERM DEBT - Senior Notes Narrative (Details) - USD ($)	Mar. 08, 2019	Apr. 30, 2017	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Jun. 30, 2014
Debt Instrument
Principal amount			$ 2,000,000,000		$ 2,000,000,000
Proceeds from issuance of long-term debt			101,000,000	$ 1,182,310,000
4.375% Notes due 2029
Debt Instrument
Principal amount			500,000,000		500,000,000
3.90% Notes due 2027
Debt Instrument
Principal amount			750,000,000		750,000,000
4.375% Notes due 2024
Debt Instrument
Principal amount			$ 750,000,000		$ 750,000,000
Senior Notes | 4.375% Notes due 2029
Debt Instrument
Principal amount	$ 500,000,000
Stated interest rate (as a percent)			4.375%
Issuance price relative to par value (as a percent)	99.862%
Effective rate (as a percent)	4.392%		4.50%
Proceeds from issuance of long-term debt	$ 494,700,000
Senior Notes | 3.90% Notes due 2027
Debt Instrument
Principal amount		$ 750,000,000
Stated interest rate (as a percent)		3.90%	3.90%
Issuance price relative to par value (as a percent)		99.748%
Effective rate (as a percent)		3.93%	4.01%
Senior Notes | 4.375% Notes due 2024
Debt Instrument
Principal amount						$ 750,000,000
Stated interest rate (as a percent)			4.375%			4.375%
Effective rate (as a percent)			4.50%

DERIVATIVE INSTRUMENTS - Deriva

DERIVATIVE INSTRUMENTS - Derivative Contracts (Details)	3 Months Ended
	Mar. 31, 2020MMBTU$ / bbl$ / MMBTUbbl
Oil Collar WTI Index | 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	9,997,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	44
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	53.49
Oil Collar WTI Index | 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	672,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	29.27
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	37.97
Oil Collar WTI Index | Second Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	2,821,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	50.43
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	61.55
Oil Collar WTI Index | Second Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	304,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	28.39
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	34.91
Oil Collar WTI Index | Third Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	3,588,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	41.47
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	50.32
Oil Collar WTI Index | Third Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	184,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	30
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	40.50
Oil Collar WTI Index | Fourth Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	3,588,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	41.47
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	50.32
Oil Collar WTI Index | Fourth Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	184,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	30
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	40.50
Oil Collar WTI Index | 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	6,909,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	34.85
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	42.06
Oil Collar WTI Index | 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	730,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	30
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	40.50
Oil Collar WTI Index | First Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	2,790,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	39.27
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	47.10
Oil Collar WTI Index | First Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	180,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	30
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	40.50
Oil Collar WTI Index | Second Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	1,911,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	34.38
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	41.41
Oil Collar WTI Index | Second Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	182,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	30
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	40.50
Oil Collar WTI Index | Third Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	1,104,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	29.67
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	36.25
Oil Collar WTI Index | Third Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	184,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	30
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	40.50
Oil Collar WTI Index | Fourth Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	1,104,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	29.67
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	36.25
Oil Collar WTI Index | Fourth Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	184,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit) | $ / bbl	30
Weighted Avg Price - Ceiling (USD per unit) | $ / bbl	40.50
Gas Collar PEPL Index | 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	18,340,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.79
Weighted Avg Price - Ceiling (USD per unit)	2.20
Gas Collar PEPL Index | 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	2,140,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.78
Weighted Avg Price - Ceiling (USD per unit)	2.18
Gas Collar PEPL Index | Second Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	5,460,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.90
Weighted Avg Price - Ceiling (USD per unit)	2.28
Gas Collar PEPL Index | Second Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	300,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.78
Weighted Avg Price - Ceiling (USD per unit)	2.18
Gas Collar PEPL Index | Third Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	6,440,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.75
Weighted Avg Price - Ceiling (USD per unit)	2.17
Gas Collar PEPL Index | Third Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.78
Weighted Avg Price - Ceiling (USD per unit)	2.18
Gas Collar PEPL Index | Fourth Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	6,440,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.75
Weighted Avg Price - Ceiling (USD per unit)	2.17
Gas Collar PEPL Index | Fourth Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.78
Weighted Avg Price - Ceiling (USD per unit)	2.18
Gas Collar PEPL Index | 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	11,820,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.69
Weighted Avg Price - Ceiling (USD per unit)	2.10
Gas Collar PEPL Index | 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	3,650,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.78
Weighted Avg Price - Ceiling (USD per unit)	2.18
Gas Collar PEPL Index | First Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	4,500,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.71
Weighted Avg Price - Ceiling (USD per unit)	2.11
Gas Collar PEPL Index | First Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	900,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.78
Weighted Avg Price - Ceiling (USD per unit)	2.18
Gas Collar PEPL Index | Second Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	3,640,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.67
Weighted Avg Price - Ceiling (USD per unit)	2.06
Gas Collar PEPL Index | Second Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	910,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.78
Weighted Avg Price - Ceiling (USD per unit)	2.18
Gas Collar PEPL Index | Third Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	1,840,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.70
Weighted Avg Price - Ceiling (USD per unit)	2.12
Gas Collar PEPL Index | Third Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.78
Weighted Avg Price - Ceiling (USD per unit)	2.18
Gas Collar PEPL Index | Fourth Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	1,840,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.70
Weighted Avg Price - Ceiling (USD per unit)	2.12
Gas Collar PEPL Index | Fourth Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.78
Weighted Avg Price - Ceiling (USD per unit)	2.18
Gas Collar Perm EP | 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	13,770,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.35
Weighted Avg Price - Ceiling (USD per unit)	1.65
Gas Collar Perm EP | 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	2,140,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.52
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Perm EP | Second Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	2,730,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.40
Weighted Avg Price - Ceiling (USD per unit)	1.82
Gas Collar Perm EP | Second Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	300,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.52
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Perm EP | Third Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	5,520,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.33
Weighted Avg Price - Ceiling (USD per unit)	1.61
Gas Collar Perm EP | Third Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.52
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Perm EP | Fourth Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	5,520,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.33
Weighted Avg Price - Ceiling (USD per unit)	1.61
Gas Collar Perm EP | Fourth Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.52
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Perm EP | 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	10,920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.38
Weighted Avg Price - Ceiling (USD per unit)	1.66
Gas Collar Perm EP | 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	3,650,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.52
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Perm EP | First Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	3,600,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.33
Weighted Avg Price - Ceiling (USD per unit)	1.58
Gas Collar Perm EP | First Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	900,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.52
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Perm EP | Second Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	3,640,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.33
Weighted Avg Price - Ceiling (USD per unit)	1.58
Gas Collar Perm EP | Second Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	910,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.52
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Perm EP | Third Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	1,840,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Perm EP | Third Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.52
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Perm EP | Fourth Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	1,840,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Perm EP | Fourth Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.52
Weighted Avg Price - Ceiling (USD per unit)	1.80
Gas Collar Waha | 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	10,090,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.35
Weighted Avg Price - Ceiling (USD per unit)	1.65
Gas Collar Waha | 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	2,140,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.76
Gas Collar Waha | Second Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	2,730,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.57
Weighted Avg Price - Ceiling (USD per unit)	1.97
Gas Collar Waha | Second Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	300,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.76
Gas Collar Waha | Third Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	3,680,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.28
Weighted Avg Price - Ceiling (USD per unit)	1.54
Gas Collar Waha | Third Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.76
Gas Collar Waha | Fourth Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	3,680,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.28
Weighted Avg Price - Ceiling (USD per unit)	1.54
Gas Collar Waha | Fourth Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.76
Gas Collar Waha | 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	10,920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.35
Weighted Avg Price - Ceiling (USD per unit)	1.61
Gas Collar Waha | 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	3,650,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.76
Gas Collar Waha | First Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	3,600,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.28
Weighted Avg Price - Ceiling (USD per unit)	1.54
Gas Collar Waha | First Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	900,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.76
Gas Collar Waha | Second Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	3,640,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.28
Weighted Avg Price - Ceiling (USD per unit)	1.54
Gas Collar Waha | Second Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	910,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.76
Gas Collar Waha | Third Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	1,840,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.75
Gas Collar Waha | Third Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.76
Gas Collar Waha | Fourth Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	1,840,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.75
Gas Collar Waha | Fourth Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (MMBtu) | MMBTU	920,000
Weighted Average Price
Weighted Avg Price - Floor (USD per unit)	1.50
Weighted Avg Price - Ceiling (USD per unit)	1.76
Oil Basis Swaps WTI Midland Index | 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	7,150,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	0.39
Oil Basis Swaps WTI Midland Index | 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	1,254,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.61)
Oil Basis Swaps WTI Midland Index | Second Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	2,366,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	0.44
Oil Basis Swaps WTI Midland Index | Second Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	150,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.59)
Oil Basis Swaps WTI Midland Index | Third Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	2,392,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	0.36
Oil Basis Swaps WTI Midland Index | Third Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	552,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.62)
Oil Basis Swaps WTI Midland Index | Fourth Quarter - 2020 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	2,392,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	0.36
Oil Basis Swaps WTI Midland Index | Fourth Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	552,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.62)
Oil Basis Swaps WTI Midland Index | 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	4,000,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.13)
Oil Basis Swaps WTI Midland Index | 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	2,190,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.62)
Oil Basis Swaps WTI Midland Index | First Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	1,620,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	0.21
Oil Basis Swaps WTI Midland Index | First Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	540,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.62)
Oil Basis Swaps WTI Midland Index | Second Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	1,092,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	0.03
Oil Basis Swaps WTI Midland Index | Second Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	546,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.62)
Oil Basis Swaps WTI Midland Index | Third Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	644,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.68)
Oil Basis Swaps WTI Midland Index | Third Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	552,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.62)
Oil Basis Swaps WTI Midland Index | Fourth Quarter - 2021 | Outstanding at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	644,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.68)
Oil Basis Swaps WTI Midland Index | Fourth Quarter - 2021 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	552,000
Weighted Average Price
Weighted Avg Differential (USD per Bbl) | $ / bbl	(0.62)
Oil Swaps WTI Index | 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	427,000
Weighted Average Price
Weighted Avg Price (USD per unit) | $ / bbl	20.73
Oil Swaps WTI Index | Second Quarter - 2020 | Subsequent at end of period
Fair values of derivative assets and liabilities
Volume (Bbls) | bbl	427,000
Weighted Average Price
Weighted Avg Price (USD per unit) | $ / bbl	20.73

DERIVATIVE INSTRUMENTS - (Gain)

DERIVATIVE INSTRUMENTS - (Gain) Loss on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative [Line Items]
Decrease (increase) in fair value of derivative instruments, net:	$ (183,826)	$ 106,401
Cash (receipts) payments on derivative instruments, net:	(43,114)	9,051
(Gain) loss on derivative instruments, net	(226,940)	115,452
Gas contracts
Derivative [Line Items]
Decrease (increase) in fair value of derivative instruments, net:	12,493	(9,846)
Cash (receipts) payments on derivative instruments, net:	(11,719)	3,764
Oil contracts
Derivative [Line Items]
Decrease (increase) in fair value of derivative instruments, net:	(196,319)	116,247
Cash (receipts) payments on derivative instruments, net:	$ (31,395)	$ 5,287

DERIVATIVE INSTRUMENTS - Deri_2

DERIVATIVE INSTRUMENTS - Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Asset
Total gross amounts presented in the balance sheet	$ 200,537	$ 17,944
Liability
Total gross amounts presented in the balance sheet	6,772	16,681
Not Designated as Hedging Instrument
Asset
Total gross amounts presented in the balance sheet	207,658	18,524
Less: gross amounts not offset in the balance sheet	(23,007)	(9,865)
Net amount	184,651	8,659
Liability
Total gross amounts presented in the balance sheet	23,007	17,699
Less: gross amounts not offset in the balance sheet	(23,007)	(9,865)
Net amount	0	7,834
Current assets — Derivative instruments | Not Designated as Hedging Instrument | Oil contracts
Asset
Total gross amounts presented in the balance sheet	189,689	1,624
Current assets — Derivative instruments | Not Designated as Hedging Instrument | Gas contracts
Asset
Total gross amounts presented in the balance sheet	10,848	16,320
Non-current assets — Derivative instruments | Not Designated as Hedging Instrument | Oil contracts
Asset
Total gross amounts presented in the balance sheet	7,121	580
Current liabilities — Derivative instruments | Not Designated as Hedging Instrument | Oil contracts
Liability
Total gross amounts presented in the balance sheet	2,963	16,681
Current liabilities — Derivative instruments | Not Designated as Hedging Instrument | Gas contracts
Liability
Total gross amounts presented in the balance sheet	3,809
Non-current liabilities — Derivative instruments | Not Designated as Hedging Instrument | Oil contracts
Liability
Total gross amounts presented in the balance sheet	12,829	824
Non-current liabilities — Derivative instruments | Not Designated as Hedging Instrument | Gas contracts
Liability
Total gross amounts presented in the balance sheet	$ 3,406	$ 194

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Apr. 30, 2017	Jun. 30, 2014
Financial Assets (Liabilities):
Derivative instruments — assets	$ 200,537	$ 17,944
Derivative instruments — liabilities	$ (6,772)	(16,681)
4.375% Notes due 2024 | Senior Notes
Financial Assets (Liabilities):
Stated interest rate (as a percent)	4.375%			4.375%
3.90% Notes due 2027 | Senior Notes
Financial Assets (Liabilities):
Stated interest rate (as a percent)	3.90%		3.90%
4.375% Notes due 2029 | Senior Notes
Financial Assets (Liabilities):
Stated interest rate (as a percent)	4.375%
Book Value
Financial Assets (Liabilities):
Derivative instruments — assets	$ 207,658	18,524
Derivative instruments — liabilities	(23,007)	(17,699)
Book Value | 4.375% Notes due 2024
Financial Assets (Liabilities):
Long-term debt	(750,000)	(750,000)
Book Value | 3.90% Notes due 2027
Financial Assets (Liabilities):
Long-term debt	(750,000)	(750,000)
Book Value | 4.375% Notes due 2029
Financial Assets (Liabilities):
Long-term debt	(500,000)	(500,000)
Fair Value
Financial Assets (Liabilities):
Derivative instruments — assets	207,658	18,524
Derivative instruments — liabilities	(23,007)	(17,699)
Fair Value | 4.375% Notes due 2024
Financial Assets (Liabilities):
Long-term debt	(591,075)	(792,225)
Fair Value | 3.90% Notes due 2027
Financial Assets (Liabilities):
Long-term debt	(502,200)	(778,050)
Fair Value | 4.375% Notes due 2029
Financial Assets (Liabilities):
Long-term debt	$ (334,800)	$ (530,400)

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Other Financial Instruments
Accrued operating expenses	$ 71.7	$ 74.7
Accrued payroll related general and administrative expenses		43.3
Allowance for Trade Receivables
Other Financial Instruments
Aggregate allowance for doubtful accounts	$ 3.8	$ 3.6

CAPITAL STOCK - Narrative (Deta

CAPITAL STOCK - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Feb. 29, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Class of Stock [Line Items]
Common stock authorized (shares)		200,000,000		200,000,000
Preferred stock authorized (shares)		15,000,000
Common stock outstanding (shares)		102,100,000
Preferred stock dividend rate (as a percent)		8.125%		8.125%
Preferred stock liquidation preference per share (USD per share)		$ 1,000
Preferred stock, liquidation preference		$ 62,500
Price received per share upon conversion (USD per share)		$ 471.40
Stock issued upon conversion of preferred stock (shares)		8.17712
Dividends
Dividends declared per common share (USD per share)	$ 0.22
Dividends declared from retained earnings		$ 22,548	$ 20,308
Dividends declared per preferred share (USD per share)	$ 20.3125
Preferred stock cash dividends	$ 1,300
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock authorized (shares)		62,500

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Options, Restricted Stock and Unit Awards
Stock compensation cost	$ 11,935	$ 13,247
Less amounts capitalized to oil and gas properties	(5,541)	(6,534)
Stock compensation expense	6,394	6,713
Restricted stock awards:
Options, Restricted Stock and Unit Awards
Stock compensation cost	11,437	12,625
Performance stock awards
Options, Restricted Stock and Unit Awards
Stock compensation cost	4,060	5,394
Service-based stock awards
Options, Restricted Stock and Unit Awards
Stock compensation cost	7,377	7,231
Stock option awards
Options, Restricted Stock and Unit Awards
Stock compensation cost	$ 498	$ 622

ASSET RETIREMENT OBLIGATIONS -

ASSET RETIREMENT OBLIGATIONS - Summary (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Asset Retirement Obligations
Balance at beginning of year	$ 181,869
Liabilities incurred	1,080
Liability settlements and disposals	(7,440)
Accretion expense	1,925
Revisions of estimated liabilities	2,800
Balance at end of year	180,234
Less current obligation	(22,841)
Long-term asset retirement obligation	$ 157,393	$ 154,045

EARNINGS (LOSS) PER SHARE - Sum

EARNINGS (LOSS) PER SHARE - Summary (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income (Numerator)
Net (loss) income	$ (774,282)	$ 26,316
Less: dividends and net income attributable to participating securities	(550)	(445)
Less: preferred stock dividends	(1,269)	(1,269)
Basic EPS - (Loss) income available to common stockholders	(776,101)	24,602
Diluted EPS - (Loss) income available to common stockholders and assumed conversions	$ (776,101)	$ 24,602
Shares (Denominator)
Basic EPS - (Loss) income available to common stockholders (shares)	99,842,000	95,922,000
Effects of dilutive securities - options (shares)	0	10,000
Diluted EPS - (Loss) income available to common stockholders and assumed conversions (shares)	99,842,000	95,932,000
Per-Share Amount
Basic EPS - (Loss) income available to common stockholders (USD per share)	$ (7.77)	$ 0.26
Diluted EPS - (Loss) income available to common stockholders and assumed conversions (USD per share)	$ (7.77)	$ 0.26
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded antidilutive securities (shares)	474,500	388,600
Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded antidilutive securities (shares)	511,100	502,600
Restricted Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded antidilutive securities (shares)	8,800

INCOME TAXES - Components of th

INCOME TAXES - Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Expense (Benefit)
Current tax benefit	$ (198)	$ 0
Deferred tax (benefit) expense	(16,357)	8,073
Income tax expense (benefit)	$ (16,555)	$ 8,073
Combined federal and state effective income tax rate (as a percent)	2.10%	23.50%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	Mar. 01, 2019	Mar. 31, 2020	Mar. 01, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
U.S. net tax operating loss carryforward				$ 1,930,000,000
Unrecognized tax benefits that would impact the entity's effective rate		$ 0
Provisions for interest or penalties related to uncertain tax positions		0
Resolute Energy Corporation
Income Tax Contingency [Line Items]
Deferred tax liability	$ 62,409,000		$ 31,072,000	31,100,000
Adjustment to deferred income taxes	$ (6,900,000)	$ 0	$ (31,337,000)	(24,400,000)
Oil Recovery and Marginal Well Credits
Income Tax Contingency [Line Items]
Tax credit carryforward				$ 3,900,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)Bcf
Drilling Commitments
Construction, Drilling and Purchase Commitments
Commitments for purchases and other expenditures	$ 239.2
Gathering System Construction
Construction, Drilling and Purchase Commitments
Commitments for purchases and other expenditures	$ 14.4
Natural Gas Sales Contracts
Construction, Drilling and Purchase Commitments
Oil and gas delivery commitments and contracts, remaining contractual volume (bcf) | Bcf	558.5
Oil and gas delivery commitments and contracts, period	11 years 3 months 18 days
Maximum financial commitment resulting from inability to meet gas delivery commitments	$ 519.6
Gas Gathering and Processing Agreements
Construction, Drilling and Purchase Commitments
Oil and gas delivery commitments and contracts, period	8 years 9 months 18 days
Maximum financial commitment resulting from inability to meet gas delivery commitments	$ 691.1
Minimum Volume Agreement
Construction, Drilling and Purchase Commitments
Maximum financial commitment resulting from inability to meet gas delivery commitments	111.4
Commitment liability	4.4
Other Transportation and Delivery Commitments and Facilities Commitments
Construction, Drilling and Purchase Commitments
Maximum financial commitment resulting from inability to meet gas delivery commitments	$ 66.5

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION - Summary (Details) - USD ($) $ in Thousands	Mar. 01, 2019	Mar. 31, 2020	Mar. 31, 2019
Cash paid during the period for:
Interest (net of capitalized amounts of $7,328 and $740, respectively) (1)		$ 5,559	$ 18,588
Income taxes		0	6
Cash received for income tax refunds		204	1
Interest capitalized		$ 7,328	$ 740
Resolute Energy Corporation
Cash paid during the period for:
Interest capitalized	$ 17,600

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Helmerich & Payne
Related Party Transaction [Line Items]
Contract drilling service costs	$ 15.6	$ 24.5

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($)	Mar. 01, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 01, 2020	Dec. 31, 2019	Mar. 31, 2020	Mar. 08, 2019
Business Acquisition [Line Items]
Purchase price allocation period					12 months
Loss on early extinguishment of debt	$ (4,300,000)	$ 0	$ (4,250,000)
Goodwill		0			$ 716,865,000	$ 0
Resolute Energy Corporation
Business Acquisition [Line Items]
Proportion of voting interests acquired (as a percent)	100.00%
Total consideration transferred	$ 820,312,000
Increase (decrease) in fair value of unproved oil and gas properties				$ (30,314,000)		(30,300,000)
Adjustment to deferred income taxes acquired	(6,900,000)	0		(31,337,000)	$ (24,400,000)
Long-term debt acquired	870,000,000			870,000,000
Goodwill	107,341,000	$ 94,200,000		$ 94,215,000		$ 94,200,000
Acquisition-related costs	8,300,000
Senior Notes | Resolute Energy Corporation
Business Acquisition [Line Items]
Long-term debt acquired	600,000,000
Senior Notes | 4.375% Notes due 2029
Business Acquisition [Line Items]
Senior notes principal							$ 500,000,000
Stated interest rate (as a percent)		4.375%				4.375%
Credit Facility | Resolute Energy Corporation
Business Acquisition [Line Items]
Long-term debt acquired	270,000,000
Resolute Energy Corporation
Business Acquisition [Line Items]
Acquisition-related costs	$ 60,000,000

ACQUISITIONS - Consideration Tr

ACQUISITIONS - Consideration Transferred (Details) - Resolute Energy Corporation shares in Thousands, $ in Thousands	Mar. 01, 2019USD ($)shares
Business Acquisition [Line Items]
Cash	$ 325,677
Total consideration transferred	820,312
Common stock (5,652 shares issued)
Business Acquisition [Line Items]
Stock	$ 413,015
Stock issued in acquisition (shares) | shares	5,652
Preferred stock (63 shares issued)
Business Acquisition [Line Items]
Stock	$ 81,620
Stock issued in acquisition (shares) | shares	63

ACQUISITIONS - Assets Acquired

ACQUISITIONS - Assets Acquired and Liabilities Assumed (Details) - USD ($)	Mar. 01, 2019	Mar. 31, 2020	Mar. 01, 2020	Dec. 31, 2019	Mar. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 0		$ 716,865,000	$ 0
Adjustments
Goodwill		(2,418,000)
Resolute Energy Corporation
Business Acquisition [Line Items]
Cash	$ 41,236,000		$ 41,236,000
Accounts receivable	50,739,000		62,260,000
Other current assets	13,280,000		12,104,000
Proved oil and gas properties	692,600,000		692,600,000
Unproved oil and gas properties	1,054,200,000		1,023,886,000
Fixed assets	5,355,000		5,323,000
Goodwill	107,341,000	94,200,000	94,215,000		94,200,000
Other assets	142,000		142,000
Current liabilities	(202,735,000)		(200,945,000)
Long-term debt	(870,000,000)		(870,000,000)
Deferred income taxes	(62,409,000)		(31,072,000)	(31,100,000)
Asset retirement obligation	(9,437,000)		(9,437,000)
Total identifiable net assets	820,312,000		820,312,000
Adjustments
Cash			0
Accounts receivable			11,521,000
Other current assets			(1,176,000)
Proved oil and gas properties			0
Unproved oil and gas properties			(30,314,000)		$ (30,300,000)
Fixed assets			(32,000)
Goodwill			(13,126,000)
Other assets			0
Current liabilities			1,790,000
Long-term debt			0
Deferred income taxes	$ 6,900,000	$ 0	31,337,000	$ 24,400,000
Asset retirement obligation			0
Total identifiable net assets			$ 0

ACQUISITIONS - Pro Forma Inform

ACQUISITIONS - Pro Forma Information (Details) - Resolute Energy Corporation $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)$ / shares
Business Acquisition, Pro Forma Information [Abstract]
Revenue | $	$ 630,093
Net income | $	$ 12,617
Net income per common share:
Basic (USD per share) | $ / shares	$ 0.11
Diluted (USD per share) | $ / shares	$ 0.11