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LEASES (Tables)
 9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Schedule of Balance Sheet Activity, Asset Classes
The Company's right-of-use assets and lease liabilities are recognized at their discounted present value on the balance sheet, which include leases related to the asset classes reflected as of the dates indicated in the table below (in thousands):
September 30, 2021December 31, 2020
Operating leases
Field equipment(1)
$20,716 $27,537 
Corporate leases6,519 1,481 
Vehicles 811 468 
Total right-of-use asset$28,046 $29,486 
Field equipment(1)
$20,716 $27,537 
Corporate leases6,830 1,900 
Vehicles811 468 
Total lease liability$28,357 $29,905 
Finance leases
Right-of-use asset - field equipment(1)
$— $219 
Lease liability - field equipment(1)
$— $117 
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(1) Includes compressors, certain gas processing equipment, and other field equipment.
Summary of Operating Lease Costs and Summary of Supplemental Cash Flow Information
The following table summarizes the components of the Company's gross lease costs incurred during the three and nine months ended September 30, 2021 and 2020 (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Operating lease cost(1)
$3,635 $3,462 $10,529 $10,560 
Finance lease cost:
Amortization of right-of-use assets
— 6 3 13 
Interest on lease liabilities— 1 1 3 
Short-term lease cost281 129 492 2,011 
Variable lease cost(2)
(9)(89)56 (133)
Sublease income(3)
(91)(89)(274)(267)
Total lease cost$3,816 $3,420 $10,807 $12,187 
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(1) Includes office rent expense of $0.5 million and $0.3 million for the three months ended September 30, 2021 and 2020, respectively, and $1.3 million and $0.8 million for the nine months ended September 30, 2021 and 2020, respectively.
(2) Variable lease cost represents differences between lease obligations and actual costs incurred for certain leases that do not have fixed payments related to both lease and non-lease components. Such incremental costs include lease payment increases or decreases driven by market price fluctuations and leased asset maintenance costs.
(3) The Company has subleased a portion of one of its office spaces for the remainder of the office lease term.
Supplemental cash flow information related to leases for the three and nine months ended September 30, 2021 and 2020 consisted of the following (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$3,293 $3,187 $9,783 $9,599 
Operating cash flows from finance leases— 1 1 3 
Financing cash flows from finance leases— 31 21 71 
Right-of-use assets obtained in exchange for new operating lease obligations$3,136 $918 $8,635 $8,306 
Right-of-use assets obtained in exchange for new finance lease obligations— — — 219 
Schedule of Weighted-Average Information The Company's weighted-average remaining lease terms and discount rates for operating leases as of September 30, 2021 are as follows:
Operating Leases
Weighted-average lease term (years)3.2
Weighted-average discount rate 3.97%
Schedule of Future Minimum Commitments for Operating Leases As of September 30, 2021, future commitments by year for the Company's operating with a lease term of one year or more are presented in the table below. Such commitments are reflected at undiscounted values and are reconciled to the discounted present value recognized on the balance sheet as follows (in thousands):
Operating Leases
Remainder of 2021$3,557 
202211,594 
20237,509 
20243,564 
20251,290 
Thereafter2,765 
Total lease payments30,279 
Less: imputed interest(1,922)
Total lease liability$28,357