Related Party Transactions
|12 Months Ended|
Dec. 31, 2020
|Related Party Transactions [Abstract]|
|Related Party Transactions||RELATED PARTY TRANSACTIONS
In the ordinary course of business, the Company has conducted business activities with certain related parties.
As of December 31, 2020, the Company held approximately 21.5% of Mammoth Energy's outstanding common stock as discussed above in Note 5. Approximately $0.6 million, and $2.0 million of services provided by Mammoth Energy were included in lease operating expenses in the consolidated statements of operations for the years ended December 31, 2019 and 2018, respectively, with no material amounts for the year ended December 31, 2020. Approximately $3.1 million and $109.9 million of services provided by Mammoth Energy were capitalized to oil and natural gas properties before elimination of intercompany profits on the accompanying consolidated balance sheets during the years ended December 31, 2020 and 2019, respectively. At December 31, 2019, the Company owed Mammoth Energy approximately $8.4 million related to these services. Amounts owed to Mammoth Energy as of December 31, 2020 were immaterial.
See Note 18 for additional information on litigation proceedings with Mammoth Energy entities.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef