XML 55 R30.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
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,
| 2022 |  | 2021 |  | 2020
| (in thousands)
Current portion of income tax (expense) benefit |  |  |  |  |
Federal | $ | (9,230) |  |  | $ | — |  |  | $ | — |
State | (5,531) |  |  | (373) |  |  | (449) |
Deferred portion of income tax (expense) benefit | (269,057) |  |  | (9,565) |  |  | 192,540 |
Income tax (expense) benefit | $ | (283,818) |  |  | $ | (9,938) |  |  | $ | 192,091 |
Effective tax rate | 20.3 | % |  | 21.5 | % |  | 20.1 | %
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,
| 2022 |  | 2021
| (in thousands)
Deferred tax liabilities |  |  |
Oil and gas properties excluding asset retirement obligation liabilities | $ | 358,537 |  |  | $ | 117,085 |
Derivative assets | 3,416 |  |  | — |
Other | 6,059 |  |  | 4,835 |
Total deferred tax liabilities | 368,012 |  |  | 121,920 |
Deferred tax assets |  |  |
Federal and state tax net operating loss carryovers | 28,151 |  |  | 3,299 |
Asset retirement obligation liabilities | 24,899 |  |  | 21,899 |
Interest carryforward | 22,667 |  |  | — |
Lease liabilities | 4,525 |  |  | 4,496 |
Pension | 3,970 |  |  | 7,413 |
Stock compensation | 567 |  |  | 2,246 |
Credit carryover | 161 |  |  | 897 |
Debt discount and deferred financing costs | 59 |  |  | 20,551 |
Derivative liabilities | — |  |  | 69,283 |
Other liabilities | 3,818 |  |  | 528 |
Total deferred tax assets | 88,817 |  |  | 130,612 |
Valuation allowance | (1,616) |  |  | (18,461) |
Net deferred tax assets | 87,201 |  |  | 112,151 |
Total net deferred tax liabilities | $ | 280,811 |  |  | $ | 9,769 |
Current federal income tax refundable | $ | 770 |  |  | $ | — |
Current state income tax payable | $ | 5,316 |  |  | $ | 362 |
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 deduction 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 balances. These differences are reported as follows:
| For the Years Ended December 31,
| 2022 |  | 2021 |  | 2020
| (in thousands)
Federal statutory tax (expense) benefit | $ | (293,112) |  |  | $ | (9,695) |  |  | $ | 200,908 |
(Increase) decrease in tax resulting from: |  |  |  |  |
Change in valuation allowance | 16,845 |  |  | (5,073) |  |  | (10,318) |
Employee share-based compensation | 10,861 |  |  | 3,080 |  |  | (2,578) |
Return to provision | (2,183) |  |  | 1,230 |  |  | (857) |
Compensation of covered individuals | (6,297) |  |  | (1,216) |  |  | (719) |
State tax (expense) benefit (net of federal benefit) | (9,870) |  |  | (211) |  |  | 5,722 |
Other | (62) |  |  | 1,947 |  |  | (67) |
Income tax (expense) benefit | $ | (283,818) |  |  | $ | (9,938) |  |  | $ | 192,091 |

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

X
- 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration