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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure [Table]        
Pay vs Performance [Table Text Block]

PAY VERSUS PERFORMANCE

 

 

The following table shows the total compensation for our NEOs for the past four 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 four years, including each of our current Co-CEOs, and the combined 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 Adjusted Free Cash Flow, all presented for the past four 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
($)(4)		   NET
INCOME
($)		   ADJ.
FREE
CASH
FLOW(5)		 
YEAR  HICKEY  WALTER  SMITH  PAPA  HICKEY  WALTER  SMITH  PAPA                
2023  –  4,297  –  –  27,407,632  27,411,929  –  –  3,362,313  6,940,218   305    160    879,703,000    711,384 
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   204    154    749,840,000    655,164 
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   32    64    (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 PR 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 our 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, 2022 and 2023. 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          AVERAGE SUMMARY
COMPENSATION TABLE
TOTAL
($)		          REMOVE VALUE OF
GRANTED EQUITY
AWARDS
($)(a)		          PRIOR YEAR
EQUITY AWARD
ADJUSTMENTS
($)(b)		          COMPENSATION
ACTUALLY PAID
($)
  2023   Hickey   –   –   27,407,632   27,407,632
      Walter   4,297   –   27,407,632   27,411,929
      Other NEOs   3,362,313   (1,956,612)   5,534,517   6,940,218
  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, each year, as reported in the Stock Awards column of the Summary Compensation Table for the applicable year, calculated in accordance with FASB ASC Topic 718. We do not sponsor or maintain any defined benefit pension plans and therefore, no deduction was made related to pension value.
  (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 2023, the other NEOs were Messrs. Oliphint, Jensen, Bell, Glyphis and Garrison. For 2022, the other NEOs were Messrs. Glyphis, Garrison, Jensen, Bell and Davis O. 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) Adjusted 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.
      
Company Selected Measure Name Adjusted Free Cash Flow      
Named Executive Officers, Footnote [Text Block]

 

(1) Our current Co-CEOs, Messrs. Hickey and Walter, began serving as our Co-CEOs on September 1, 2022 upon the closing of the PR 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. 

 

(3) For 2023, the other NEOs were Messrs. Oliphint, Jensen, Bell, Glyphis and Garrison. For 2022, the other NEOs were Messrs. Glyphis, Garrison, Jensen, Bell and Davis O. O’Connor. For 2021 and 2020, the other NEOs were Messrs. Glyphis, Garrison, Jensen and O’Connor.
      
Peer Group Issuers, Footnote [Text Block] 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]

 

  YEAR                CEO / NEO          AVERAGE SUMMARY
COMPENSATION TABLE
TOTAL
($)		          REMOVE VALUE OF
GRANTED EQUITY
AWARDS
($)(a)		          PRIOR YEAR
EQUITY AWARD
ADJUSTMENTS
($)(b)		          COMPENSATION
ACTUALLY PAID
($)
  2023   Hickey   –   –   27,407,632   27,407,632
      Walter   4,297   –   27,407,632   27,411,929
      Other NEOs   3,362,313   (1,956,612)   5,534,517   6,940,218
  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, each year, as reported in the Stock Awards column of the Summary Compensation Table for the applicable year, calculated in accordance with FASB ASC Topic 718. We do not sponsor or maintain any defined benefit pension plans and therefore, no deduction was made related to pension value.
  (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 [1] $ 3,362,313 $ 6,674,297 $ 3,236,810 $ 2,542,616
Non-PEO NEO Average Compensation Actually Paid Amount [1],[2] $ 6,940,218 17,124,841 15,878,126 3,560,595
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

 

  YEAR                CEO / NEO          AVERAGE SUMMARY
COMPENSATION TABLE
TOTAL
($)		          REMOVE VALUE OF
GRANTED EQUITY
AWARDS
($)(a)		          PRIOR YEAR
EQUITY AWARD
ADJUSTMENTS
($)(b)		          COMPENSATION
ACTUALLY PAID
($)
  2023   Hickey   –   –   27,407,632   27,407,632
      Walter   4,297   –   27,407,632   27,411,929
      Other NEOs   3,362,313   (1,956,612)   5,534,517   6,940,218
  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, each year, as reported in the Stock Awards column of the Summary Compensation Table for the applicable year, calculated in accordance with FASB ASC Topic 718. We do not sponsor or maintain any defined benefit pension plans and therefore, no deduction was made related to pension value.
  (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]

 

      
Compensation Actually Paid vs. Company Selected Measure [Text Block]

 

      
Total Shareholder Return Vs Peer Group [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 ended December 31, 2023. 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 (LOE + Cash G&A) / Boe
Absolute Annualized TSR NAV/Share
All-in Rate of Return Drilling and Completions Cost / ft.
Adjusted Free Cash Flow Net Debt / LTM EBITDAX
      
Total Shareholder Return Amount [3] $ 305 204 129 32
Peer Group Total Shareholder Return Amount [3] 160 154 106 64
Net Income (Loss) Attributable to Parent $ 879,703,000 $ 749,840,000 $ 138,175,000 $ (685,199,000)
Company Selected Measure Amount [4] 711,384 655,164 206,671 (64,230)
Measure [Axis]: 1        
Pay vs Performance Disclosure [Table]        
Measure Name Relative TSR      
Measure [Axis]: 2        
Pay vs Performance Disclosure [Table]        
Measure Name Absolute Annualized TSR      
Measure [Axis]: 3        
Pay vs Performance Disclosure [Table]        
Measure Name All-in Rate of Return      
Measure [Axis]: 4        
Pay vs Performance Disclosure [Table]        
Measure Name Adjusted Free Cash Flow      
Measure [Axis]: 5        
Pay vs Performance Disclosure [Table]        
Measure Name (LOE + Cash G&A) / Boe      
Measure [Axis]: 6        
Pay vs Performance Disclosure [Table]        
Measure Name NAV/Share      
Measure [Axis]: 7        
Pay vs Performance Disclosure [Table]        
Measure Name Drilling and Completions Cost / ft.      
Measure [Axis]: 8        
Pay vs Performance Disclosure [Table]        
Measure Name Net Debt / LTM EBITDAX      
Non-PEO NEO [Member] | Remove Value of Equity Awards Granted        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [5] $ (1,956,612) $ (5,093,653) $ (2,240,258) $ (1,824,259)
Non-PEO NEO [Member] | Prior Year Equity Award Adjustments        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [6] 5,534,517 15,544,197 14,881,574 2,842,238
Hickey        
Pay vs Performance Disclosure [Table]        
PEO Total Compensation Amount [7] 25,512,520    
PEO Actually Paid Compensation Amount [2],[7] $ 27,407,632 $ 33,915,382    
PEO Name Hickey Hickey    
Hickey | PEO [Member] | Remove Value of Equity Awards Granted        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [5] $ (25,512,520)    
Hickey | PEO [Member] | Prior Year Equity Award Adjustments        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [6] 27,407,632 33,915,382    
Walter        
Pay vs Performance Disclosure [Table]        
PEO Total Compensation Amount [7] 4,297 25,512,520    
PEO Actually Paid Compensation Amount [2],[7] $ 27,411,929 $ 33,915,382    
PEO Name Walter Walter    
Walter | PEO [Member] | Remove Value of Equity Awards Granted        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [5] $ (25,512,520)    
Walter | PEO [Member] | Prior Year Equity Award Adjustments        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [6] $ 27,407,632 33,915,382    
Sean R. Smith        
Pay vs Performance Disclosure [Table]        
PEO Total Compensation Amount [7]   21,833,431 8,677,260 6,606,273
PEO Actually Paid Compensation Amount [2],[7]   $ 51,416,285 $ 42,802,771 $ 9,557,071
PEO Name   Sean R. Smith Sean R. Smith Sean R. Smith
Sean R. Smith | PEO [Member] | Remove Value of Equity Awards Granted        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [5]   $ (14,495,295) $ (6,590,088) $ (5,242,233)
Sean R. Smith | PEO [Member] | Prior Year Equity Award Adjustments        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [6]   $ 44,078,149 $ 40,715,599 8,193,031
Mark G. Papa        
Pay vs Performance Disclosure [Table]        
PEO Total Compensation Amount [7]       324,805
PEO Actually Paid Compensation Amount [2],[7]       $ 716,865
PEO Name       Mark G. Papa
Mark G. Papa | PEO [Member] | Remove Value of Equity Awards Granted        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [5]      
Mark G. Papa | PEO [Member] | Prior Year Equity Award Adjustments        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [6]       $ 392,060
[1] For 2023, the other NEOs were Messrs. Oliphint, Jensen, Bell, Glyphis and Garrison. 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] 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 our 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, 2022 and 2023. 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:
[3] 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] Adjusted 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] Represents the grant date fair value and average grant date fair value of the equity awards granted to the CEO and NEOs, respectively, each year, as reported in the Stock Awards column of the Summary Compensation Table for the applicable year, calculated in accordance with FASB ASC Topic 718. We do not sponsor or maintain any defined benefit pension plans and therefore, no deduction was made related to pension value.
[6] 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).
[7] Our current Co-CEOs, Messrs. Hickey and Walter, began serving as our Co-CEOs on September 1, 2022 upon the closing of the PR 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.