Parker Wellbore Quarterly report pursuant to Section 13 or 15(d)

Operating Leases (Tables)

9 Months Ended

Sep. 30, 2019

Supplemental lease information related to our operating leases as of September 30, 2019 is shown below:



	Successor
Dollars in thousands	September 30, 2019
Operating lease right-of-use assets⁽¹⁾	$	17,173

Operating lease liabilities - current ⁽²⁾	7,466
Operating lease liabilities - noncurrent⁽³⁾	8,647
Total operating lease liabilities	$	16,113

Weighted average remaining lease term (in years)	3
Weighted average discount rate	7.4		%


(1)	This amount is included in other non-current assets in our consolidated condensed balance sheet.


(2)	This amount is included in accounts payable and accrued liabilities in our consolidated condensed balance sheet.


(3)	This amount is included in other long-term liabilities in our consolidated condensed balance sheet.

Supplemental cash flow information related to leases are as follow:



	Successor		Predecessor
	Six Months Ended September 30,		Three Months Ended March 31,
Dollars in thousands	2019		2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	4,519	$	2,498
Operating lease right-of-use assets obtained in exchange for lease obligations	$	976	$	60

Maturities of operating lease liabilities as of September 30, 2019 were as follows:



	Successor
Dollars in thousands	Operating Leases
2019	$	1,930
2020	7,314
2021	4,530
2022	2,052
2023	1,593
Beyond 2023	588
Total undiscounted lease liability	18,007
Imputed interest	(1,894		)
Total operating lease liabilities	$	16,113

Future minimum operating lease payments as of December 31, 2018 were as follows:

Expenses for operating leases are shown below:



	Successor
	Three Months Ended September 30,
Dollars in thousands	2019
Operating lease expense	$	2,071
Short-term lease expense	1,146
Variable lease expense	1,827
Total lease expense	$	5,044