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Pay vs Performance Disclosure

3 Months Ended

4 Months Ended

8 Months Ended

9 Months Ended

12 Months Ended

36 Months Ended

Mar. 31, 2020

USD ($)

Dec. 31, 2022

USD ($)

Aug. 31, 2022

USD ($)

Dec. 31, 2020

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Dec. 31, 2022

Pay vs Performance Disclosure [Table]

Pay vs Performance [Table Text Block]

PAY FOR PERFORMANCE

The following table shows the total compensation for our NEOs for the past three years, as set forth in the Summary Compensation Table, and the “compensation actually paid” (computed in the manner required by SEC rules as described below) to our NEOs. The table separately presents the amounts for each Chief Executive Officer serving during the last three years, including each of our current Co-CEOs, and the average amounts for our other NEOs. The table also provides our Total Shareholder Returns (TSR), the TSR of the selected peer group, our net income and our Free Cash Flow, all presented for the past three years.

										AVERAGE SUMMARY COMPEN- SATION TABLE TOTAL FOR NON-CEO NEOs ($)⁽³⁾	AVERAGE COMPEN- SATION ACTUALLY PAID TO NON-CEO NEOs ($)⁽²⁾⁽³⁾		VALUE OF INITIAL FIXED $100 INVESTMENT BASED ON:
	SUMMARY COMPENSATION TABLE TOTAL FOR CEOs⁽¹⁾					COMPENSATION ACTUALLY PAID TO CEOs⁽¹⁾⁽²⁾							TOTAL SHARE- HOLDER RETURN ($)⁽⁴⁾		PEER GROUP TOTAL SHARE- HOLDER RETURN ($)⁽⁴⁾	NET INCOME ($)		FREE CASH FLOW⁽⁵⁾
YEAR	HICKEY	WALTER	SMITH	PAPA		HICKEY	WALTER	SMITH	PAPA				TOTAL SHARE- HOLDER RETURN ($)⁽⁴⁾		PEER GROUP TOTAL SHARE- HOLDER RETURN ($)⁽⁴⁾	NET INCOME ($)		FREE CASH FLOW⁽⁵⁾

2022	25,512,520	25,512,520	21,833,431	—		33,915,382	33,915,382	51,416,285	—	6,674,297	17,124,841		32		64	749,840,000		569,917
2021	—	—	8,677,260	—		—	—	42,802,771	—	3,236,810	15,878,126		129		106	138,175,000		206,671
2020	—	—	6,606,273	324,805		—	—	9,557,071	716,865	2,542,616	3,560,595		204		154	(685,199,000)		(64,230)

(1)

Our current Co-CEOs, Messrs. Hickey and Walter, began serving as our Co-CEOs on September 1, 2022 upon the closing of the Merger. The former CEOs referenced are Sean R. Smith, who served as our CEO from April 1, 2020 through August 31, 2022, and Mark G. Papa, who served as our CEO from 2016 through March 31, 2020.

(2)

The dollar amounts reported in this column represent the amount of Compensation Actually Paid (CAP), as defined and calculated under applicable SEC rules, for each CEO and the average for the other NEOs. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs. In accordance with the requirements of Item 402(v) of Regulation S-K, CAP is based on the Summary Compensation Table (SCT) pay, as adjusted for the fair market value of equity awards as of December 31, 2020, 2021 and 2022. Our NEOs do not participate in benefit programs requiring an adjustment for pension benefits calculation. The following table provides the adjustments made between SCT pay and CAP:

	Year	CEO / NEO	Summary Compensation Table Total	Remove Value of Equity Awards Granted^(a)	Prior Year Equity Award Adjustments^(b)	Compensation Actually Paid
	2022	Hickey	25,512,520	(25,512,520)	33,915,382	33,915,382
		Walter	25,512,520	(25,512,520)	33,915,382	33,915,382
		Smith	21,833,431	(14,495,295)	44,078,149	51,416,285
		Other NEOs	6,674,297	(5,093,653)	15,544,197	17,124,841
	2021	Smith	8,677,260	(6,590,088)	40,715,599	42,802,771
	2021	Other NEOs	3,236,810	(2,240,258)	14,881,574	15,878,126
	2020	Smith	6,606,273	(5,242,233)	8,193,031	9,557,071
		Papa	324,805	—	392,060	716,865
		Other NEOs	2,542,616	(1,824,259)	2,842,238	3,560,595
	(a) Represents the grant date fair value and average grant date fair value of the equity awards granted to the CEO and NEOs, respectively. (b) Reflects the fair value/change in fair value of the awards at year end or upon vesting/forfeiture, computed in accordance with FASB’s ASC Topic 718, Stock-based Compensation (ASC Topic 718).
(3) For 2022, the other NEOs were Messrs. Glyphis, Garrison, Jensen, Bell and O’Connor. For 2021 and 2020, the other NEOs were Messrs. Glyphis, Garrison, Jensen and O’Connor. (4) Total Shareholder Return is determined based on the value of an initial fixed investment of $100. The Peer Group Total Shareholder Return represents the total shareholder return of the SPDR S&P Oil & Gas Exploration & Production ETF. (5) Free Cash Flow is a non-GAAP financial measure. See Appendix A for a reconciliation of this financial measure to our most directly comparable financial measure calculated in accordance with GAAP.

Named Executive Officers, Footnote [Text Block]

(3)

For 2022, the other NEOs were Messrs. Glyphis, Garrison, Jensen, Bell and O’Connor. For 2021 and 2020, the other NEOs were Messrs. Glyphis, Garrison, Jensen and O’Connor.

Peer Group Issuers, Footnote [Text Block]

(4)

Total Shareholder Return is determined based on the value of an initial fixed investment of $100. The Peer Group Total Shareholder Return represents the total shareholder return of the SPDR S&P Oil & Gas Exploration & Production ETF.

Adjustment To PEO Compensation, Footnote [Text Block]

(2)

The dollar amounts reported in this column represent the amount of Compensation Actually Paid (CAP), as defined and calculated under applicable SEC rules, for each CEO and the average for the other NEOs. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs. In accordance with the requirements of Item 402(v) of Regulation S-K, CAP is based on the Summary Compensation Table (SCT) pay, as adjusted for the fair market value of equity awards as of December 31, 2020, 2021 and 2022. Our NEOs do not participate in benefit programs requiring an adjustment for pension benefits calculation. The following table provides the adjustments made between SCT pay and CAP:

Year

CEO / NEO

Summary

Compensation Table

Total

Remove

Value of Equity Awards

Granted^(a)

Prior Year

Equity Award

Adjustments^(b)

Compensation Actually Paid

2022

Hickey

25,512,520

(25,512,520)

33,915,382

33,915,382

Walter

25,512,520

(25,512,520)

33,915,382

33,915,382

Smith

21,833,431

(14,495,295)

44,078,149

51,416,285

Other NEOs

6,674,297

(5,093,653)

15,544,197

17,124,841

2021

Smith

8,677,260

(6,590,088)

40,715,599

42,802,771

Other NEOs

3,236,810

(2,240,258)

14,881,574

15,878,126

2020

Smith

6,606,273

(5,242,233)

8,193,031

9,557,071

Papa

324,805

—

392,060

716,865

Other NEOs

2,542,616

(1,824,259)

2,842,238

3,560,595

(a)

Represents the grant date fair value and average grant date fair value of the equity awards granted to the CEO and NEOs, respectively.

(b)

Reflects the fair value/change in fair value of the awards at year end or upon vesting/forfeiture, computed in accordance with FASB’s ASC Topic 718, Stock-based Compensation (ASC Topic 718).

Non-PEO NEO Average Total Compensation Amount

$ 6,674,297

^[1],[2]

$ 3,236,810

$ 2,542,616

Non-PEO NEO Average Compensation Actually Paid Amount

$ 17,124,841

15,878,126

^[1],[2]

3,560,595

^[1],[2]

Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

(2)

The dollar amounts reported in this column represent the amount of Compensation Actually Paid (CAP), as defined and calculated under applicable SEC rules, for each CEO and the average for the other NEOs. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs. In accordance with the requirements of Item 402(v) of Regulation S-K, CAP is based on the Summary Compensation Table (SCT) pay, as adjusted for the fair market value of equity awards as of December 31, 2020, 2021 and 2022. Our NEOs do not participate in benefit programs requiring an adjustment for pension benefits calculation. The following table provides the adjustments made between SCT pay and CAP:

Year

CEO / NEO

Summary

Compensation Table

Total

Remove

Value of Equity Awards

Granted^(a)

Prior Year

Equity Award

Adjustments^(b)

Compensation Actually Paid

2022

Hickey

25,512,520

(25,512,520)

33,915,382

33,915,382

Walter

25,512,520

(25,512,520)

33,915,382

33,915,382

Smith

21,833,431

(14,495,295)

44,078,149

51,416,285

Other NEOs

6,674,297

(5,093,653)

15,544,197

17,124,841

2021

Smith

8,677,260

(6,590,088)

40,715,599

42,802,771

Other NEOs

3,236,810

(2,240,258)

14,881,574

15,878,126

2020

Smith

6,606,273

(5,242,233)

8,193,031

9,557,071

Papa

324,805

—

392,060

716,865

Other NEOs

2,542,616

(1,824,259)

2,842,238

3,560,595

(a)

Represents the grant date fair value and average grant date fair value of the equity awards granted to the CEO and NEOs, respectively.

(b)

Reflects the fair value/change in fair value of the awards at year end or upon vesting/forfeiture, computed in accordance with FASB’s ASC Topic 718, Stock-based Compensation (ASC Topic 718).

Compensation Actually Paid vs. Total Shareholder Return [Text Block]

Compensation Actually Paid vs. Net Income [Text Block]

Tabular List [Table Text Block]

Performance Measures

The table below sets forth our most important performance measures used to link “Compensation Actually Paid” for our NEOs to company performance, over the fiscal year ending December 31, 2022. Please see the Compensation Discussion & Analysis section above for further information regarding these performance measures and their function in our executive compensation program. The performance measures included in this table are not ranked by relative importance.

IMPORTANT FINANCIAL PERFORMANCE MEASURES
Relative TSR	Net Debt / LTM EBITDAX
Absolute Annualized TSR	(LOE + Cash G&A) / Boe
Free Cash Flow	F&D Costs ($ / Boe)
Cash Return on Capital Employed

Total Shareholder Return Amount

^[3]

$ 32

129

204

Peer Group Total Shareholder Return Amount

^[3]

64

106

154

Net Income (Loss)

$ 749,840,000

$ 138,175,000

(685,199,000)

Company Selected Measure Amount

^[4]

569,917

206,671

(64,230)

Measure [Axis]: 1

Pay vs Performance Disclosure [Table]

Relative TSR

Measure [Axis]: 2

Pay vs Performance Disclosure [Table]

Absolute Annualized TSR

Measure [Axis]: 3

Pay vs Performance Disclosure [Table]

Free Cash Flow

Measure [Axis]: 4

Pay vs Performance Disclosure [Table]

Cash Return on Capital Employed

Measure [Axis]: 5

Pay vs Performance Disclosure [Table]

Net Debt / LTM EBITDAX

Measure [Axis]: 6

Pay vs Performance Disclosure [Table]

(LOE + Cash G&A) / Boe

Measure [Axis]: 7

Pay vs Performance Disclosure [Table]

F&D Costs ($ / Boe)

William M Hickey [Member]

Pay vs Performance Disclosure [Table]

PEO Total Compensation Amount

^[5]

$ 25,512,520

PEO Actually Paid Compensation Amount

^[2],[5]

33,915,382

James H Walter [Member]

Pay vs Performance Disclosure [Table]

PEO Total Compensation Amount

^[5]

25,512,520

PEO Actually Paid Compensation Amount

^[2],[5]

33,915,382

Sean R Smith [Member]

Pay vs Performance Disclosure [Table]

PEO Total Compensation Amount

^[5]

$ 21,833,431

$ 6,606,273

$ 8,677,260

PEO Actually Paid Compensation Amount

^[2],[5]

51,416,285

9,557,071

42,802,771

Mark G Papa [Member]

Pay vs Performance Disclosure [Table]

PEO Total Compensation Amount

^[5]

$ 324,805

PEO Actually Paid Compensation Amount

^[2],[5]

716,865

PEO [Member] | William M Hickey [Member] | Remove Value of Equity Awards Granted [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

^[6]

(25,512,520)

PEO [Member] | William M Hickey [Member] | Prior Year Equity Award Adjustments [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

^[7]

33,915,382

PEO [Member] | James H Walter [Member] | Remove Value of Equity Awards Granted [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

^[6]

(25,512,520)

PEO [Member] | James H Walter [Member] | Prior Year Equity Award Adjustments [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

^[7]

$ 33,915,382

PEO [Member] | Sean R Smith [Member] | Remove Value of Equity Awards Granted [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

^[6]

(14,495,295)

(5,242,233)

(6,590,088)

PEO [Member] | Sean R Smith [Member] | Prior Year Equity Award Adjustments [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

^[7]

$ 44,078,149

$ 8,193,031

40,715,599

PEO [Member] | Mark G Papa [Member] | Prior Year Equity Award Adjustments [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

^[7]

$ 392,060

Non-PEO NEO [Member] | Remove Value of Equity Awards Granted [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

^[6]

$ (5,093,653)

(2,240,258)

(1,824,259)

Non-PEO NEO [Member] | Prior Year Equity Award Adjustments [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

^[7]

$ 15,544,197

$ 14,881,574

$ 2,842,238

[1]	(3) For 2022, the other NEOs were Messrs. Glyphis, Garrison, Jensen, Bell and O’Connor. For 2021 and 2020, the other NEOs were Messrs. Glyphis, Garrison, Jensen and O’Connor.
[2]	(2) The dollar amounts reported in this column represent the amount of Compensation Actually Paid (CAP), as defined and calculated under applicable SEC rules, for each CEO and the average for the other NEOs. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs. In accordance with the requirements of Item 402(v) of Regulation S-K, CAP is based on the Summary Compensation Table (SCT) pay, as adjusted for the fair market value of equity awards as of December 31, 2020, 2021 and 2022. Our NEOs do not participate in benefit programs requiring an adjustment for pension benefits calculation. The following table provides the adjustments made between SCT pay and CAP: Year CEO / NEO Summary Compensation Table Total Remove Value of Equity Awards Granted^(a) Prior Year Equity Award Adjustments^(b) Compensation Actually Paid 2022 Hickey 25,512,520 (25,512,520) 33,915,382 33,915,382 Walter 25,512,520 (25,512,520) 33,915,382 33,915,382 Smith 21,833,431 (14,495,295) 44,078,149 51,416,285 Other NEOs 6,674,297 (5,093,653) 15,544,197 17,124,841 2021 Smith 8,677,260 (6,590,088) 40,715,599 42,802,771 Other NEOs 3,236,810 (2,240,258) 14,881,574 15,878,126 2020 Smith 6,606,273 (5,242,233) 8,193,031 9,557,071 Papa 324,805 — 392,060 716,865 Other NEOs 2,542,616 (1,824,259) 2,842,238 3,560,595 (a) Represents the grant date fair value and average grant date fair value of the equity awards granted to the CEO and NEOs, respectively. (b) Reflects the fair value/change in fair value of the awards at year end or upon vesting/forfeiture, computed in accordance with FASB’s ASC Topic 718, Stock-based Compensation (ASC Topic 718).
[3]	(4) Total Shareholder Return is determined based on the value of an initial fixed investment of $100. The Peer Group Total Shareholder Return represents the total shareholder return of the SPDR S&P Oil & Gas Exploration & Production ETF.
[4]	(5) Free Cash Flow is a non-GAAP financial measure. See Appendix A for a reconciliation of this financial measure to our most directly comparable financial measure calculated in accordance with GAAP.
[5]	(1) Our current Co-CEOs, Messrs. Hickey and Walter, began serving as our Co-CEOs on September 1, 2022 upon the closing of the Merger. The former CEOs referenced are Sean R. Smith, who served as our CEO from April 1, 2020 through August 31, 2022, and Mark G. Papa, who served as our CEO from 2016 through March 31, 2020.
[6]	(a) Represents the grant date fair value and average grant date fair value of the equity awards granted to the CEO and NEOs, respectively.
[7]	(b) Reflects the fair value/change in fair value of the awards at year end or upon vesting/forfeiture, computed in accordance with FASB’s ASC Topic 718, Stock-based Compensation (ASC Topic 718).