XML 90 R46.htm IDEA: XBRL DOCUMENT
v3.22.0.1

SUPPLEMENTAL OIL AND GAS INFORMATION (UNAUDITED) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Extractive Industries [Abstract] |
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities | The following tables illustrate the Company's net proved reserves, including changes, and proved developed and proved undeveloped reserves for the periods indicated, as estimated by the Company's engineering staff. All reserves are located within the continental U.S.
| Oil (Mbbl) |  | Natural Gas (Bcf) |  | NGLs (Mbbl) |  | Total (MBOE)
December 31, 2018 | 120 |  |  | 11,604 |  |  | — |  |  | 1,934,136 |
Revision of prior estimates(1) | (48) |  |  | 48 |  |  | — |  |  | 7,834 |
Extensions, discoveries and other additions(2) | — |  |  | 2,116 |  |  | — |  |  | 352,731 |
Production | — |  |  | (865) |  |  | — |  |  | (144,229) |
Sales of reserves in place | (50) |  |  | — |  |  | — |  |  | (50) |
December 31, 2019 | 22 |  |  | 12,903 |  |  | — |  |  | 2,150,422 |
Revision of prior estimates(3) | (3) |  |  | (347) |  |  | — |  |  | (57,808) |
Extensions, discoveries and other additions(2) | — |  |  | 1,974 |  |  | — |  |  | 328,976 |
Production | (4) |  |  | (858) |  |  | — |  |  | (142,954) |
December 31, 2020 | 15 |  |  | 13,672 |  |  | — |  |  | 2,278,636 |
Revision of prior estimates(4) | 10,837 |  |  | (538) |  |  | 16,797 |  |  | (61,967) |
Extensions, discoveries and other additions(2) | 2,633 |  |  | 973 |  |  | 6,100 |  |  | 170,988 |
Production | (8,150) |  |  | (911) |  |  | (7,104) |  |  | (167,113) |
Purchases of reserves in place(5) | 184,094 |  |  | 1,699 |  |  | 204,822 |  |  | 672,038 |
December 31, 2021 | 189,429 |  |  | 14,895 |  |  | 220,615 |  |  | 2,892,582 |
Proved Developed Reserves |  |  |  |  |  |  |
December 31, 2018 | 107 |  |  | 7,402 |  |  | — |  |  | 1,233,790 |
December 31, 2019 | 22 |  |  | 8,056 |  |  | — |  |  | 1,342,589 |
December 31, 2020 | 15 |  |  | 8,608 |  |  | — |  |  | 1,434,714 |
December 31, 2021 | 153,010 |  |  | 10,691 |  |  | 193,598 |  |  | 2,128,439 |
Proved Undeveloped Reserves |  |  |  |  |  |  |
December 31, 2018 | 13 |  |  | 4,202 |  |  | — |  |  | 700,346 |
December 31, 2019 | — |  |  | 4,847 |  |  | — |  |  | 807,833 |
December 31, 2020 | — |  |  | 5,064 |  |  | — |  |  | 843,922 |
December 31, 2021 | 36,419 |  |  | 4,204 |  |  | 27,017 |  |  | 764,143 |
_______________________________________________________________________________ (1)The net upward revision of 8 MMBOE was primarily due to a net upward performance revision of 11 MMBOE, partially offset by a downward revision of 3 MMBOE associated with PUD reclassifications as a result of the five-year limitation. The net upward performance revision of 11 MMBOE was primarily due to an upward revision of 69 MMBOE associated with the Company's PUD reserves due to performance revisions and the drilling of longer lateral length wells, partially offset by a downward performance revision of 58 MMBOE related to certain proved developed producing properties. (2)Extensions, discoveries and other additions were primarily related to drilling activity in the Dimock field located in northeast Pennsylvania. The Company added 152 MMBOE, 329 MMBOE and 353 MMBOE of proved reserves in this field in 2021, 2020 and 2019, respectively. (3)The net downward revision of 58 MMBOE was primarily due to a net downward performance revision of 41 MMBOE and a downward revision of 11 MMBOE associated with PUD reclassifications as a result of the five-year limitation. The net downward performance revision of 41 MMBOE was primarily due to a downward performance revision of 61 MMBOE related to certain proved developed producing properties, partially offset by an upward revision of 21 MMBOE associated with the Company’s PUD reserves due to performance revisions and the drilling of longer lateral length wells. (4)The net downward revision of 62 MMBOE was primarily related to 97 MMBOE downward performance revision coupled with a 6 MMBOE downward revision associated with PUD reclassifications as a result of the 5 year rule which was partially offset by a 42 MMBOE positive pricing and cost revision. The net downward performance revision of 97 MMBOE, was primarily due to 57 MMBOE performance revision related to certain proved developed reserves and a 40 MMBOE downward performance revision associate with proved undeveloped reserves. (5)Purchases of reserves in place were primarily related to the acquisition of Cimarex’s oil and gas properties in connection with the Merger. The reserves are primarily related to the Wolfcamp Shale in the Permian Basin and Woodford Shale in the Anadarko Basin.
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure | Capitalized costs relating to oil and gas producing activities and related accumulated depreciation, depletion and amortization were as follows:
| December 31,
(In millions) | 2021 |  | 2020 |  | 2019
Aggregate capitalized costs relating to oil and gas producing activities | $ | 20,655 |  |  | $ | 7,154 |  |  | $ | 6,676 |
Aggregate accumulated depreciation, depletion and amortization | (3,775) |  |  | (3,149) |  |  | (2,861) |
Net capitalized costs | $ | 16,880 |  |  | $ | 4,005 |  |  | $ | 3,815 |
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure | Costs incurred in property acquisition, exploration and development activities were as follows:
| Year Ended December 31,
(In millions) | 2021(1) |  | 2020 |  | 2019
Property acquisition costs, proved | $ | 7,472 |  |  | $ | — |  |  | $ | — |
Property acquisition costs, unproved | 5,386 |  |  | 6 |  |  | 6 |
Exploration costs | 18 |  |  | 15 |  |  | 20 |
Development costs | 688 |  |  | 547 |  |  | 761 |
Total costs | $ | 13,564 |  |  | $ | 568 |  |  | $ | 787 |
_______________________________________________________________________________ (1)These amounts include the fair value of the proved and unproved properties recorded in the purchase price allocation with respect to the Merger. The purchase was funded through the issuance of the Company’s common stock.
Oil and Gas, Average Sale Price and Production Cost | The average prices (adjusted for basis and quality differentials) related to proved reserves are as follows:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Natural gas | $ | 2.93 |  |  | $ | 1.64 |  |  | $ | 2.35 |
Oil | $ | 65.40 |  |  | $ | 32.53 |  |  | $ | 55.80 |
NGLs | $ | 25.74 |  |  | $ | — |  |  | $ | — |
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure | Standardized Measure is as follows:
| Year Ended December 31,
(In millions) | 2021 |  | 2020 |  | 2019
Future cash inflows | $ | 60,908 |  |  | $ | 22,385 |  |  | $ | 30,302 |
Future production costs | (18,241) |  |  | (10,784) |  |  | (10,039) |
Future development costs(1) | (2,449) |  |  | (1,612) |  |  | (2,006) |
Future income tax expenses | (8,535) |  |  | (2,176) |  |  | (4,043) |
Future net cash flows | 31,683 |  |  | 7,813 |  |  | 14,214 |
10% annual discount for estimated timing of cash flows | (18,399) |  |  | (4,751) |  |  | (8,353) |
Standardized measure of discounted future net cash flows | $ | 13,284 |  |  | $ | 3,062 |  |  | $ | 5,861 |
______________________________________________________________________________ (1)Includes $390 million, $224 million and $213 million in plugging and abandonment costs for the years ended December 31, 2021, 2020 and 2019, respectively.
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows | The following is an analysis of the changes in the Standardized Measure:
| Year Ended December 31,
(In millions) | 2021 |  | 2020 |  | 2019
Beginning of year | $ | 3,062 |  |  | $ | 5,861 |  |  | $ | 6,483 |
Discoveries and extensions, net of related future costs | 800 |  |  | 311 |  |  | 1,076 |
Net changes in prices and production costs | 9,573 |  |  | (4,326) |  |  | (1,510) |
Accretion of discount | 551 |  |  | 750 |  |  | 813 |
Revisions of previous quantity estimates | 467 |  |  | (108) |  |  | 28 |
Timing and other | (161) |  |  | 6 |  |  | (192) |
Changes in estimated future development costs | (103) |  |  | — |  |  | — |
Development costs incurred | 497 |  |  | 501 |  |  | 469 |
Sales and transfers, net of production costs | (2,801) |  |  | (746) |  |  | (1,317) |
Sales of reserves in place | (1) |  |  | — |  |  | (1) |
Purchases of reserves in place | 6,477 |  |  | — |  |  | — |
Net change in income taxes | (5,077) |  |  | 813 |  |  | 12 |
End of year | $ | 13,284 |  |  | $ | 3,062 |  |  | $ | 5,861 |

X
- References No definition available. + Details
Name: | srt_ExtractiveIndustriesAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of oil and gas sale price and production cost, including, but not limited to, average sale price and production cost per unit. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1204 + Details
Name: | srt_OilAndGasNetProductionAverageSalesPriceAndAverageProductionCostsDisclosureTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the aggregate change in the standardized measure of discounted future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchases under long-term agreements in which the enterprise participates in the operation of the properties on which oil and gas is located or otherwise serves as the producer. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Form 20-F -Section Item 18 -Subsection Instruction 2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62500-109447 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62536-109447 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62496-109447 + Details
Name: | srt_ScheduleOfChangesInStandardizedMeasureOfDiscountedFutureNetCashFlowsTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Form 20-F -Section Item 18 -Subsection Instruction 2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61884-109447 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61858-109447 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61872-109447 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61831-109447 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61797-109447 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61869-109447 + Details
Name: | srt_ScheduleOfProvedDevelopedAndUndevelopedOilAndGasReserveQuantitiesTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Form 20-F -Section Item 18 -Subsection Instruction 2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62476-109447 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62536-109447 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63094-109448 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62424-109447 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62479-109447 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62455-109447 + Details
Name: | srt_StandardizedMeasureOfDiscountedFutureCashFlowsRelatingToProvedReservesDisclosureTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of aggregate capitalized costs relating to an enterprise's oil and gas producing activities and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61926-109447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61901-109447 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63019-109448 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61929-109447 + Details
Name: | us-gaap_CapitalizedCostsRelatingToOilAndGasProducingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62059-109447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63042-109448 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62014-109447 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62038-109447 + Details
Name: | us-gaap_CostIncurredInOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration