Leases (Tables)
 12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Schedule of Discount Rate and Remaining Lease Term, Components of Lease Expenses, and Other Information The following table presents the components of the Company’s lease expenses for the period presented.
(in thousands)
 
Year Ended December 31, 2019
Lease costs(1)
 
 
Operating lease cost
 
$
37,679

Variable lease cost
 
3,566

Short-term lease cost
 
67,493

Total Lease Cost
 
$
108,738

 
(1)  
The majority of the Company’s operating leases relate to the operations or completion of the Company’s wells. Therefore, the lease costs presented in the above table represent the total gross costs the Company incurs, which are not comparable to the Company’s net costs recorded to the Consolidated Statements of Operations, Consolidated Statements of Cash Flows or capitalized in the Consolidated Balance Sheets, as amounts therein are reflected net of amounts billed to working interest partners.
The table below summarizes the Company’s discount rate and remaining lease term as of the period presented.
 
 
As of December 31, 2019
Weighted-average discount rate
 
4.56
%
Weighted-average remaining lease term (years)
 
1.29
Schedule of Maturities of Operating Lease Liabilities
Maturities of the Company’s long-term operating lease liabilities by for the year ended December 31, 2019 are as follows:
(in thousands)
 
Total(2)
2020
 
$
9,573

2021
 
3,033

2022
 
425

Total lease payments
 
13,031

  Less: imputed interest
 
(445
)
Present value of lease liabilities (1)
 
$
12,586

 
(1)
Of the total present value of lease liabilities, $9.2 million was recorded to current Operating lease liabilities and $3.4 million was recorded in noncurrent Operating lease liabilities in the Consolidated Balance Sheets as of December 31, 2019.
(2)  
Total lease payments exclude variable lease payments which can be charged under the terms of the lease agreements.
Schedule of Future Contractual Payments For Leases Under ASC 840
The following table is a schedule of the Company’s future minimum payments with commitments that have initial or remaining non-cancelable contractual terms in excess of one year as of December 31, 2019:
(in thousands)
2020
 
2021
 
2022
 
2023
 
2024
 
Thereafter
 
Total
Water disposal agreements
$
2,237

 
$
100

 
$
—

 
$
—

 
$
—

 
$
—

 
$
2,337

Purchase obligations
9,302

 
3,360

 
—

 
—

 
—

 
—

 
12,662

Transportation agreements
13,393

 
9,061

 
1,773

 
—

 
—

 
—

 
24,227

Total
$
24,932

 
$
12,521

 
$
1,773

 
$
—

 
$
—

 
$
—

 
$
39,226


The following is a schedule of the Company’s future contractual payments for operating leases under the scope of ASC 840 that had initial contractual terms greater than one year as of December 31, 2018:
(in thousands)
Drilling Rigs
 
Office Leases
2019
$
43,036

 
$
3,057

2020
4,124

 
2,830

2021
—

 
2,761

2022
—

 
404

Total lease payments
$
47,160

 
$
9,052