Transactions with Related Parties |
3 Months Ended |
|---|---|
Mar. 31, 2018 | |
| Related Party Transactions [Abstract] | |
| Transactions with Related Parties | Note 11—Transactions with Related Parties Customer and Supplier Relationships Riverstone Affiliated Companies Riverstone and its affiliates, beneficially own more than 10% equity interest in the Company and are therefore considered related parties. From time to time, the Company obtains services related to its drilling and completion activities from affiliates of Riverstone. In particular, the Company has paid the following amounts to certain affiliates of Riverstone for such services: (i) approximately $12.5 million during the three months ended March 31, 2017 to Liberty Oilfield Services, LLC; and (ii) approximately $2.0 million and $1.1 million during the three months ended March 31, 2018 and 2017, respectively, to Permian Tank and Manufacturing, Inc. (“Permian”). Included in Accounts payable and accrued expenses on the Consolidated Balance Sheets was $0.9 million and $0.3 million due to Permian as of March 31, 2018 and December 31, 2017, respectively. Other Affiliated Companies Mark G. Papa, the Company’s President, Chief Executive Officer and Chairman of the Board, serves as a director and Chairman of the Board of Oil States International, Inc., an energy services company publicly traded on the New York Stock Exchange (“Oil States”). From time to time, the Company obtains services related to drilling and completion activities from Oil States. In particular, the Company paid approximately $2.3 million and $0.7 million for the three months ended March 31, 2018 and 2017, respectively, to Oil States. Included in Accounts payable and accrued expenses on the Consolidated Balance Sheets was $1.6 million and $1.5 million due to Oil States as of March 31, 2018 and December 31, 2017, respectively. |