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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of components of provision for income taxes [Table Text Block]

The provision for income taxes consists of the following:

			For the Years Ended December 31,
			2020						2019						2018
			(in thousands)
Current portion of income tax (expense) benefit
Federal			$	—					$	3,826					$	—
State			(449)						(1,618)						(1,662)
Deferred portion of income tax (expense) benefit			192,540						41,835						(141,708)
Income tax (expense) benefit			$	192,091					$	44,043					$	(143,370)
Effective tax rate			20.1		%				19.1		%				22.0		%

Schedule of components of net deferred income tax liabilities [Table Text Block]

The components of the net deferred tax liabilities are as follows:

			As of December 31,
			2020						2019
			(in thousands)
Deferred tax liabilities
Oil and gas properties excluding asset retirement obligation liabilities			$	83,816					$	224,686
Derivative assets			—						4,646
Other			10,054						12,361
Total deferred tax liabilities			93,870						241,693
Deferred tax assets
Derivative liabilities			36,311						—
Debt discount and deferred financing costs			23,925						—
Asset retirement obligation liabilities			18,424						19,658
Credit carryover			7,543						11,270
Pension			7,183						5,971
Federal and state tax net operating loss carryovers			3,898						4,172
Stock compensation			2,701						3,503
Other liabilities			7,273						10,803
Total deferred tax assets			107,258						55,377
Valuation allowance			(13,388)						(3,070)
Net deferred tax assets			93,870						52,307
Total net deferred tax liabilities			$	—					$	189,386
Current federal income tax refundable			$	—					$	3,885
Current state income tax payable			$	853					$	1,404

Schedule of effective income tax rate reconciliation [Table Text Block]

Recorded income tax expense or benefit differs from the amount that would be provided by applying the statutory United States federal income tax rate to income or loss before income taxes. These differences primarily relate to the effect of state income taxes, excess tax benefits and deficiencies from stock-based compensation awards, tax limitations on compensation of covered individuals, changes in valuation allowances, the cumulative impact of other smaller permanent differences, and can also reflect the

cumulative effect of an enacted tax rate change, in the period of enactment, on the Company’s net deferred tax asset and liability balance. These differences are reported as follows:

			For the Years Ended December 31,
			2020						2019						2018
			(in thousands)
Federal statutory tax (expense) benefit			$	200,908					$	48,519					$	(136,873)
(Increase) decrease in tax resulting from:
State tax (expense) benefit (net of federal benefit)			5,722						(260)						(2,771)
Change in valuation allowance			(10,318)						13						(105)
Employee share-based compensation			(2,578)						(3,346)						(2,508)
Other			(1,643)						(883)						(1,113)
Income tax (expense) benefit			$	192,091					$	44,043					$	(143,370)

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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