volatility in commodity prices in early march 2020 , concurrent with the spread of covid-19 to the u.s. and just prior to the government actions mentioned above , members of opec+ proposed production cuts in an attempt to stabilize the oil market . however , opec+ failed to reach an agreement and some producers instead announced planned production increases , after which oil prices declined sharply . by mid-march 2020 , wti oil prices had declined to less than $ 25 per barrel , the lowest price since 2002. although opec+ subsequently reached agreement in april 2020 on production cuts that went into effect in may 2020 , oil prices continued to decline following announcement of the agreement . further , producers in the u.s. and globally were slow to reduce oil production at a rate sufficient to match the sharp slowdown in economic activity caused by measures to control the spread of covid-19 . this resulted in an oversupply of oil that caused wti oil prices to fall to - $ 37 per barrel on april 20th . since the april 20th low , wti oil prices have rebounded and averaged $ 43 per barrel during the fourth-quarter 2020 and averaged $ 54 per barrel during the first-quarter 2021 through mid-february . we maintain an active , multi-year commodity derivatives strategy to minimize commodity price volatility and support cash flows needed for operations . for 2021 , we currently have oil derivatives in place for 8.1 million barrels at a weighted-average floor price of $ 50.83 brent per barrel . for 2022 , we currently have oil derivatives in place for 3.8 million barrels swapped at a weighted-average price of $ 47.05 brent per barrel . for 2021 , we currently expect to operate two drilling rigs and one completions crew and capital expenditures to be approximately $ 360 million . however , we will continue to monitor commodity prices and service costs and adjust activity levels in order to proactively manage our cash flows and preserve liquidity . 46 pricing and reserves our results of operations are heavily influenced by oil , ngl and natural gas prices , and although prices have stabilized , they remained at low levels in fourth-quarter 2020 for oil and ngl . oil , ngl and natural gas price fluctuations continue to be impacted by the covid-19 pandemic and policies of opec+ , which have generally increased supply , decreased demand , made economic and market conditions more volatile , caused transportation and storage constraints and led to a variety of additional issues on both a regional and global basis . historically , commodity prices have experienced significant fluctuations ; however , the volatility in the prices has substantially increased as a result of world developments in 2020. the duration of such developments may affect the economic viability of , and our ability to fund our drilling projects , as well as the economic valuation and economic recovery of oil , ngl and natural gas reserves . see `` critical accounting estimates `` for further discussion of our oil , ngl and natural gas reserve quantities and standardized measure of discounted future net cash flows . we have entered into a number of commodity derivative contracts that have enabled us to offset a portion of the changes in our cash flow caused by fluctuations in price and basis differentials for our sales of oil , ngl and natural gas , as discussed in `` item 7a . quantitative and qualitative disclosures about market risk . `` see notes 10.a , 11.a and 19.b to our consolidated financial statements included elsewhere in this annual report for additional discussion of our commodity derivatives , including transactions subsequent to december 31 , 2020. our reserves are reported in three streams : oil , ngl and natural gas . the realized prices utilized to value our proved reserves as of december 31 , 2020 and 2019 , are as follows : replace_table_token_8_th the realized prices used to estimate proved reserves do not include derivative transactions . the unamortized cost of evaluated oil and natural gas properties being depleted exceeded the full cost ceiling for each of the quarterly periods in 2020 and for the third and fourth quarters of 2019 and , as such , we recorded non-cash full cost ceiling impairments of $ 889.5 million and $ 620.6 million during the years ended december 31 , 2020 and 2019 , respectively . as more specifically addressed in `` hypothetical first-quarter 2021 full cost ceiling calculation `` below , if prices remain at the current levels , subject to numerous factors and inherent limitations , and all other factors remain constant , a non-cash full cost ceiling impairment in the first-quarter 2021 is not implied . see notes 2.g and 6.a to our consolidated financial statements included elsewhere in this annual report for discussion of the full cost method of accounting and our realized prices . horizontal drilling of unconventional wells using enhanced completions techniques , including , but not limited to , hydraulic fracturing , is a relatively new process and , as such , forecasting the long-term production of such wells is inherently uncertain and subject to varying interpretations . as we receive and process geological and production data from these wells over time , we analyze such data to confirm whether previous assumptions regarding original forecasted production , inventory and reserves continue to appear accurate or require modification . story_separator_special_tag 52 lease operating expenses ( `` loe `` ) loe and loe per boe sold both decreased for the year ended december 31 , 2020 compared to 2019. loe are daily costs incurred to bring oil , ngl and natural gas out of the ground and to market , together with the daily costs incurred to maintain our producing properties . such costs also include maintenance , repairs and non-routine workover expenses related to our oil and natural gas properties . we continue to focus on economic efficiencies associated with the usage and procurement of products and services related to loe and decreasing failures and related workover expenses . we expect loe to increase in 2021 due to higher expected operating costs on the wells coming on line in howard county compared to operating costs on our established acreage . production and ad valorem taxes production and ad valorem taxes decreased for the year ended december 31 , 2020 compared to 2019. production taxes are based on and fluctuate in proportion to our oil , ngl and natural gas sales revenues , and are established by federal , state or local taxing authorities . we take full advantage of all credits and exemptions in our various taxing jurisdictions . ad valorem taxes are based on and fluctuate in proportion to the taxable value assessed by the various counties where our oil and natural gas properties are located . transportation and marketing expenses transportation and marketing expenses increased for the year ended december 31 , 2020 compared to 2019. these are costs incurred for the delivery of produced oil to customers in the u.s. gulf coast market via the bridgetex pipeline and the gray oak pipeline . we began shipment on the gray oak pipeline during the fourth quarter of 2019. we plan to ship the majority of our produced oil to the u.s. gulf coast , which we believe provides a long-term pricing advantages versus the midland market . additionally , firm transportation payments on excess pipeline capacity associated with transportation agreements are included in transportation and marketing expenses . for the year ended december 31 , 2020 , we expensed firm transportation payments on excess capacity of $ 4.0 million related to a transportation commitment with a certain pipeline pertaining to the gathering of our production from our established acreage that extends into 2024. see `` —obligations and commitments `` and note 16.c to our consolidated financial statements included elsewhere in this annual report for information regarding our transportation commitments . additionally , we recognized marketing expense due to negative natural gas prices in march 2020. midstream service expenses midstream service expenses decreased for the year ended december 31 , 2020 compared to 2019. these are costs incurred to operate and maintain our ( i ) integrated oil and natural gas gathering and transportation systems and related facilities ( ii ) centralized oil storage tanks , ( iii ) natural gas lift , fuel for drilling and completions activities and centralized compression infrastructure and ( iv ) water storage , recycling and transportation facilities . costs of purchased oil costs of purchased oil increased for the year ended december 31 , 2020 compared to 2019. we are a firm shipper on both the bridgetex and gray oak pipelines , the latter of which we began shipment on during fourth-quarter 2019 , and we utilize purchased oil to fulfill portions of our commitments . in the event our long-haul transportation capacity on the bridgetex pipeline and gray oak pipeline exceeds our net production , consistent with our historic practice , we expect to continue to purchase third-party oil at the trading hubs to satisfy the deficit in our associated long-haul transportation commitments . general and administrative ( `` g & a `` ) g & a , excluding employee compensation expense from our long-term incentive plan ( `` ltip `` ) , decreased for the year ended december 31 , 2020 , compared to 2019 , mainly due to decreases in employee-related costs as a result of the cumulative measures taken during 2020 and 2019 to align our cost structure with operational activity , which included workforce reductions . ltip cash expense increased for the year ended december 31 , 2020 , compared to 2019 , as these types of cash awards were not in place in 2019. ltip non-cash expense increased for the year ended december 31 , 2020 compared to 2019 , but did not change on a per boe basis . see notes 2.p , 9.a and 18 to our consolidated financial statements included elsewhere in this annual report for information regarding our equity-based compensation . 53 g & a are costs incurred for overhead , including payroll and benefits for our corporate staff , costs of maintaining our headquarters , non-production based franchise taxes , audit and other fees for professional services , legal compliance and equity-based compensation . organizational restructuring expenses organizational restructuring expenses are related to our workforce reductions and senior officer retirements in an effort to reduce costs and better position ourselves for the future in response to market condition . we incurred one-time charges comprised of compensation , taxes , professional fees , outplacement and insurance-related expenses during the years ended december 31 , 2020 and 2019. as of december 31 , 2020 , no additional organizational restructuring expenses are expected to be incurred . see note 18 to our consolidated financial statements included elsewhere in this annual report for further discussion of the organizational restructurings . other operating expenses these costs include accretion expense due to the passage of time on our asset retirement obligations . see note 2.k to our consolidated financial statements included elsewhere in this annual report for additional information regarding our asset retirement obligations and `` critical accounting estimates `` . depletion , depreciation and amortization ( `` dd & a `` ) the following table presents the components of our dd & a for the periods

cash flows from financing activities net cash provided by financing activities decreased during the year ended december 31 , 2020 , compared to 2019. notable changes include the issuance of our january 2025 notes and january 2028 notes , partially offset by ( i ) the extinguishment of our january 2022 notes and march 2023 notes , ( ii ) the repurchase of portions of our january 2025 notes and january 2028 59 notes under our bond repurchase program and ( iii ) borrowings and payments on our senior secured credit facility . for further discussion of our financing activities related to debt instruments , see notes 7 and 19.a to our consolidated financial statements included elsewhere in this annual report . the following table presents the components of our cash flows from financing activities for the periods presented and corresponding changes : replace_table_token_23_th debt we are the borrower under our senior secured credit facility and a party to the indentures governing our senior unsecured notes . senior secured credit facility as of december 31 , 2020 , the senior secured credit facility had a maximum credit amount of $ 2.0 billion and a borrowing base and an aggregate elected commitment of $ 725.0 million each , with $ 255.0 million outstanding and was subject to an interest rate of 2.688 % . the senior secured credit facility provides for the issuance of letters of credit , limited to the lesser of total capacity or $ 80.0 million . as of december 31 , 2020 and 2019 , we had one letter of credit outstanding of $ 44.1 million and $ 14.7 million , respectively , under the senior secured credit facility . see notes 7.c and 19.a to our consolidated financial statements included elsewhere in this annual report for further discussion of our senior secured credit facility .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows from financing activities net cash provided by financing activities decreased during the year ended december 31 , 2020 , compared to 2019. notable changes include the issuance of our january 2025 notes and january 2028 notes , partially offset by ( i ) the extinguishment of our january 2022 notes and march 2023 notes , ( ii ) the repurchase of portions of our january 2025 notes and january 2028 59 notes under our bond repurchase program and ( iii ) borrowings and payments on our senior secured credit facility . for further discussion of our financing activities related to debt instruments , see notes 7 and 19.a to our consolidated financial statements included elsewhere in this annual report . the following table presents the components of our cash flows from financing activities for the periods presented and corresponding changes : replace_table_token_23_th debt we are the borrower under our senior secured credit facility and a party to the indentures governing our senior unsecured notes . senior secured credit facility as of december 31 , 2020 , the senior secured credit facility had a maximum credit amount of $ 2.0 billion and a borrowing base and an aggregate elected commitment of $ 725.0 million each , with $ 255.0 million outstanding and was subject to an interest rate of 2.688 % . the senior secured credit facility provides for the issuance of letters of credit , limited to the lesser of total capacity or $ 80.0 million . as of december 31 , 2020 and 2019 , we had one letter of credit outstanding of $ 44.1 million and $ 14.7 million , respectively , under the senior secured credit facility . see notes 7.c and 19.a to our consolidated financial statements included elsewhere in this annual report for further discussion of our senior secured credit facility .
```    
 Suspicious Activity Report : volatility in commodity prices in early march 2020 , concurrent with the spread of covid-19 to the u.s. and just prior to the government actions mentioned above , members of opec+ proposed production cuts in an attempt to stabilize the oil market . however , opec+ failed to reach an agreement and some producers instead announced planned production increases , after which oil prices declined sharply . by mid-march 2020 , wti oil prices had declined to less than $ 25 per barrel , the lowest price since 2002. although opec+ subsequently reached agreement in april 2020 on production cuts that went into effect in may 2020 , oil prices continued to decline following announcement of the agreement . further , producers in the u.s. and globally were slow to reduce oil production at a rate sufficient to match the sharp slowdown in economic activity caused by measures to control the spread of covid-19 . this resulted in an oversupply of oil that caused wti oil prices to fall to - $ 37 per barrel on april 20th . since the april 20th low , wti oil prices have rebounded and averaged $ 43 per barrel during the fourth-quarter 2020 and averaged $ 54 per barrel during the first-quarter 2021 through mid-february . we maintain an active , multi-year commodity derivatives strategy to minimize commodity price volatility and support cash flows needed for operations . for 2021 , we currently have oil derivatives in place for 8.1 million barrels at a weighted-average floor price of $ 50.83 brent per barrel . for 2022 , we currently have oil derivatives in place for 3.8 million barrels swapped at a weighted-average price of $ 47.05 brent per barrel . for 2021 , we currently expect to operate two drilling rigs and one completions crew and capital expenditures to be approximately $ 360 million . however , we will continue to monitor commodity prices and service costs and adjust activity levels in order to proactively manage our cash flows and preserve liquidity . 46 pricing and reserves our results of operations are heavily influenced by oil , ngl and natural gas prices , and although prices have stabilized , they remained at low levels in fourth-quarter 2020 for oil and ngl . oil , ngl and natural gas price fluctuations continue to be impacted by the covid-19 pandemic and policies of opec+ , which have generally increased supply , decreased demand , made economic and market conditions more volatile , caused transportation and storage constraints and led to a variety of additional issues on both a regional and global basis . historically , commodity prices have experienced significant fluctuations ; however , the volatility in the prices has substantially increased as a result of world developments in 2020. the duration of such developments may affect the economic viability of , and our ability to fund our drilling projects , as well as the economic valuation and economic recovery of oil , ngl and natural gas reserves . see `` critical accounting estimates `` for further discussion of our oil , ngl and natural gas reserve quantities and standardized measure of discounted future net cash flows . we have entered into a number of commodity derivative contracts that have enabled us to offset a portion of the changes in our cash flow caused by fluctuations in price and basis differentials for our sales of oil , ngl and natural gas , as discussed in `` item 7a . quantitative and qualitative disclosures about market risk . `` see notes 10.a , 11.a and 19.b to our consolidated financial statements included elsewhere in this annual report for additional discussion of our commodity derivatives , including transactions subsequent to december 31 , 2020. our reserves are reported in three streams : oil , ngl and natural gas . the realized prices utilized to value our proved reserves as of december 31 , 2020 and 2019 , are as follows : replace_table_token_8_th the realized prices used to estimate proved reserves do not include derivative transactions . the unamortized cost of evaluated oil and natural gas properties being depleted exceeded the full cost ceiling for each of the quarterly periods in 2020 and for the third and fourth quarters of 2019 and , as such , we recorded non-cash full cost ceiling impairments of $ 889.5 million and $ 620.6 million during the years ended december 31 , 2020 and 2019 , respectively . as more specifically addressed in `` hypothetical first-quarter 2021 full cost ceiling calculation `` below , if prices remain at the current levels , subject to numerous factors and inherent limitations , and all other factors remain constant , a non-cash full cost ceiling impairment in the first-quarter 2021 is not implied . see notes 2.g and 6.a to our consolidated financial statements included elsewhere in this annual report for discussion of the full cost method of accounting and our realized prices . horizontal drilling of unconventional wells using enhanced completions techniques , including , but not limited to , hydraulic fracturing , is a relatively new process and , as such , forecasting the long-term production of such wells is inherently uncertain and subject to varying interpretations . as we receive and process geological and production data from these wells over time , we analyze such data to confirm whether previous assumptions regarding original forecasted production , inventory and reserves continue to appear accurate or require modification . story_separator_special_tag 52 lease operating expenses ( `` loe `` ) loe and loe per boe sold both decreased for the year ended december 31 , 2020 compared to 2019. loe are daily costs incurred to bring oil , ngl and natural gas out of the ground and to market , together with the daily costs incurred to maintain our producing properties . such costs also include maintenance , repairs and non-routine workover expenses related to our oil and natural gas properties . we continue to focus on economic efficiencies associated with the usage and procurement of products and services related to loe and decreasing failures and related workover expenses . we expect loe to increase in 2021 due to higher expected operating costs on the wells coming on line in howard county compared to operating costs on our established acreage . production and ad valorem taxes production and ad valorem taxes decreased for the year ended december 31 , 2020 compared to 2019. production taxes are based on and fluctuate in proportion to our oil , ngl and natural gas sales revenues , and are established by federal , state or local taxing authorities . we take full advantage of all credits and exemptions in our various taxing jurisdictions . ad valorem taxes are based on and fluctuate in proportion to the taxable value assessed by the various counties where our oil and natural gas properties are located . transportation and marketing expenses transportation and marketing expenses increased for the year ended december 31 , 2020 compared to 2019. these are costs incurred for the delivery of produced oil to customers in the u.s. gulf coast market via the bridgetex pipeline and the gray oak pipeline . we began shipment on the gray oak pipeline during the fourth quarter of 2019. we plan to ship the majority of our produced oil to the u.s. gulf coast , which we believe provides a long-term pricing advantages versus the midland market . additionally , firm transportation payments on excess pipeline capacity associated with transportation agreements are included in transportation and marketing expenses . for the year ended december 31 , 2020 , we expensed firm transportation payments on excess capacity of $ 4.0 million related to a transportation commitment with a certain pipeline pertaining to the gathering of our production from our established acreage that extends into 2024. see `` —obligations and commitments `` and note 16.c to our consolidated financial statements included elsewhere in this annual report for information regarding our transportation commitments . additionally , we recognized marketing expense due to negative natural gas prices in march 2020. midstream service expenses midstream service expenses decreased for the year ended december 31 , 2020 compared to 2019. these are costs incurred to operate and maintain our ( i ) integrated oil and natural gas gathering and transportation systems and related facilities ( ii ) centralized oil storage tanks , ( iii ) natural gas lift , fuel for drilling and completions activities and centralized compression infrastructure and ( iv ) water storage , recycling and transportation facilities . costs of purchased oil costs of purchased oil increased for the year ended december 31 , 2020 compared to 2019. we are a firm shipper on both the bridgetex and gray oak pipelines , the latter of which we began shipment on during fourth-quarter 2019 , and we utilize purchased oil to fulfill portions of our commitments . in the event our long-haul transportation capacity on the bridgetex pipeline and gray oak pipeline exceeds our net production , consistent with our historic practice , we expect to continue to purchase third-party oil at the trading hubs to satisfy the deficit in our associated long-haul transportation commitments . general and administrative ( `` g & a `` ) g & a , excluding employee compensation expense from our long-term incentive plan ( `` ltip `` ) , decreased for the year ended december 31 , 2020 , compared to 2019 , mainly due to decreases in employee-related costs as a result of the cumulative measures taken during 2020 and 2019 to align our cost structure with operational activity , which included workforce reductions . ltip cash expense increased for the year ended december 31 , 2020 , compared to 2019 , as these types of cash awards were not in place in 2019. ltip non-cash expense increased for the year ended december 31 , 2020 compared to 2019 , but did not change on a per boe basis . see notes 2.p , 9.a and 18 to our consolidated financial statements included elsewhere in this annual report for information regarding our equity-based compensation . 53 g & a are costs incurred for overhead , including payroll and benefits for our corporate staff , costs of maintaining our headquarters , non-production based franchise taxes , audit and other fees for professional services , legal compliance and equity-based compensation . organizational restructuring expenses organizational restructuring expenses are related to our workforce reductions and senior officer retirements in an effort to reduce costs and better position ourselves for the future in response to market condition . we incurred one-time charges comprised of compensation , taxes , professional fees , outplacement and insurance-related expenses during the years ended december 31 , 2020 and 2019. as of december 31 , 2020 , no additional organizational restructuring expenses are expected to be incurred . see note 18 to our consolidated financial statements included elsewhere in this annual report for further discussion of the organizational restructurings . other operating expenses these costs include accretion expense due to the passage of time on our asset retirement obligations . see note 2.k to our consolidated financial statements included elsewhere in this annual report for additional information regarding our asset retirement obligations and `` critical accounting estimates `` . depletion , depreciation and amortization ( `` dd & a `` ) the following table presents the components of our dd & a for the periods

