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LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Components Of The Lease Costs And Supplemental Information
For the years ended December 31, 2024, 2023 and 2022, the components of the lease costs and supplemental information was as follows:
Year Ended December 31,
202420232022
Lease cost:(in thousands)
Finance lease cost (1)
$19,198 $17,297 $3,682 
Operating lease cost5,100 1,403 11,040 
Short-term lease cost (2)
893 6,574 5,213 
Variable lease cost (3)
1 653 4,513 
Total lease expense25,192 25,927 24,448 
Lease costs capitalized— 55 4,127 
Total lease costs$25,192 $25,982 $28,575 
(1)Represents depreciation and interest associated with financing leases.
(2)Represents short term leases under contracts that are 1 year or less where a ROU asset and lease liability are not required to be recorded.
(3)Variable costs represent differences between minimum lease costs and actual lease costs incurred under lease contracts.
Other information:
Year Ended December 31,
202420232022
Other information:(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Financing cash flows attributable to finance leases (in thousands)$10,477$7,161 $3,039 
Weighted-average remaining lease term (in years)7.368.169.65
Weighted-average discount rate7.16 %7.99 %4.59 %
Operating cash flows attributable to operating leases (in thousands)$2,127 $505 $19,300 
Weighted-average remaining lease term (in years)4.090.671.33
Weighted-average discount rate6.14 %8.45 %9.91 %
Schedule of Lease Costs in Consolidated Statements of Operations
The table below describes the presentation of the total lease cost on the Company’s consolidated statements of operations and other comprehensive income (loss). As discussed above, the Company’s joint venture owners are required to reimburse the Company for their share of certain expenses, including certain lease costs.
Year Ended December 31,
202420232022
(in thousands)
Finance lease cost$11,290 $10,231 $2,188 
Production expense3,517 3,556 12,222 
General and administrative expense346 196 160 
Lease costs billed to the joint venture owners10,039 11,964 11,390 
Total lease expense25,192 25,947 25,960 
Lease costs capitalized— 35 2,615 
Total lease costs$25,192 $25,982 $28,575 
Finance Lease, Liability, to be Paid, Maturity
The following table describes the future maturities of the Company’s operating and financing lease liabilities at December 31, 2024:
Operating LeasesFinance Leases
Year(in thousands)
2025$4,368 $18,755 
20264,842 16,674 
20275,008 15,023 
20284,780 11,321 
2029520 11,315 
Thereafter220 28,925 
19,738 102,013 
Less: imputed interest2,323 21,253 
Total lease liabilities$17,415 $80,760 
Lessee, Operating Lease, Liability, to be Paid, Maturity
The following table describes the future maturities of the Company’s operating and financing lease liabilities at December 31, 2024:
Operating LeasesFinance Leases
Year(in thousands)
2025$4,368 $18,755 
20264,842 16,674 
20275,008 15,023 
20284,780 11,321 
2029520 11,315 
Thereafter220 28,925 
19,738 102,013 
Less: imputed interest2,323 21,253 
Total lease liabilities$17,415 $80,760