Transactions with Related Parties
 9 Months Ended
Sep. 30, 2020
Related Party Transactions [Abstract]  
Transactions with Related Parties
Note 10—Transactions with Related Parties
Riverstone and its affiliates (“Riverstone”) beneficially own a more than 10% equity interest in the Company and are therefore considered related parties. The Company has a marketing agreement with Lucid Energy Delaware, LLC (“Lucid”), an affiliate of Riverstone. The Company believes that the terms of the marketing agreement with Lucid are no less favorable to either party than those held with unaffiliated parties. The following table summarizes the revenues recognized and the associated processing fees incurred from this marketing agreement as presented in the consolidated statements of operations for the periods indicated as well as the related net receivables outstanding as of the balance sheet dates:

Three Months Ended September 30,

Nine Months Ended September 30,
(in thousands)
2020

2019

2020

2019
Oil and gas sales
$
1,610


$
715


$
3,272


$
2,511

Gathering, processing and transportation expenses
1,464

 
793

 
3,526

 
1,719

(in thousands)
September 30, 2020
 
December 31, 2019
Receivable from Lucid(1)
$
409

 
$
91

 
(1) Represents amounts due from Lucid and are presented net of unpaid processing fees as of the indicated period end date.
Senior Secured Notes
During 2020, Riverstone acquired an aggregate of $100.7 million and $111.9 million of the Company’s 2026 Senior Notes and 2027 Senior Notes, respectively, in open market purchases. Subsequently, on May 22, 2020, Riverstone participated in the Company’s Debt Exchange, discussed in Note 4—Long-Term Debt, and exchanged all of its Senior Unsecured Notes for $106.3 million of the Company’s Senior Secured Notes. Riverstone’s participation in the Debt Exchange represented $106.3 million (or 74%) of the total extinguishment gain recognized in the consolidated statements of operations.