Minimum contractual obligations for the Company’s leases (undiscounted) as of December 31, 2019 were as follows  (in thousands) : Cash payments for the Company’s operating and finance leases for the year ended December 31, 2019 were $0.8 million and $0.4 million, respectively. For the year ended December 31, 2019, there were $3.2 million of right-of-use assets obtained in exchange for lease obligations for operating leases. The amounts related to the Company’s finance leases were not material to the consolidated financial statements. As of December 31, 2019, the weighted average remaining lease terms of the Company’s operating and finance leases were 4.8 years and 1.4 years, respectively. The weighted average discount rates used to determine the lease liabilities as of December 31, 2019 for the Company’s operating and finance leases were 4.35% and 6.75%, respectively. The discount rate used for operating leases is based on the Company’s incremental borrowing rate. The discount rate used for finance leases is based on the rates implicit in the leases. As of December 31, 2018, minimum future contractual payments for long-term leases under ASC 840 were as follows  (in thousands) : Capitalized costs include the cost of properties, equipment, and facilities for oil and natural gas producing activities. Capitalized costs for proved properties include costs for oil and natural gas leaseholds where proved reserves have been identified, development wells, and related equipment and facilities, including development wells in progress. Capitalized costs for unproved properties include costs for acquiring oil and natural gas leaseholds where no proved reserves have been identified, including costs of exploratory wells that are in the process of drilling or in active completion, and costs of exploratory wells suspended or waiting on completion. The Company’s oil and natural gas activities for 2019 and 2018 were entirely within the United States of America. Costs incurred in oil and natural gas producing activities were as follows ( in thousands ): Note 20. Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) Costs Incurred Related to Oil and Gas Activities Operating Finance 2020 $ 632 $ 219 2021 791 84 2022 696 5 2023 596 — 2024 605 — Thereafter 152 — Total lease payments $ 3,472 $ 308 Less imputed interest (363) (17) Total lease liability $ 3,109 $ 291 Operating Finance 2019 $ 723 $ 419 2020 — 223 2021 — 77 2022 — — 2023 — — Thereafter — — Total lease payments $ 723 $ 719 27