XML 36 R22.htm IDEA: XBRL DOCUMENT v3.22.2
LEASES
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
LEASES LEASES
The Company’s right-of-use assets and lease liabilities are recognized on the accompanying balance sheets based on the present value of the expected lease payments over the lease term. The following table summarizes the asset classes of the Company's operating leases (in thousands):
June 30, 2022December 31, 2021
Operating Leases
Field equipment(1)
$22,608 $29,312 
Corporate leases8,024 9,484 
Vehicles 855 1,089 
Total right-of-use asset$31,487 $39,885 
Field equipment(1)
$22,608 $29,312 
Corporate leases8,565 9,870 
Vehicles855 1,089 
Total lease liability$32,028 $40,271 
____________________________
(1) Includes compressors, certain natural gas processing equipment, and other field equipment.

The Company incurred gross short-term lease costs of $11.3 million and $0.2 million for the three months ended June 30, 2022 and 2021, respectively. The Company incurred gross short-term lease costs of $20.4 million and $0.2 million for the six months ended June 30, 2022 and 2021, respectively. A portion of these costs may have been or will be billed to other working interest owners, and the Company's net share of these costs, once paid, are capitalized to property and equipment or recognized as expense.
Future commitments by year for the Company's leases with a lease term of one year or more as of June 30, 2022 are presented in the table below. Such commitments are reflected at undiscounted values and are reconciled to the discounted present value recognized on the accompanying balance sheets as follows (in thousands):
Operating Leases
Remainder of 2022$10,210 
202313,523 
20245,414 
20251,742 
20261,207 
Thereafter1,587 
Total lease payments33,683 
Less: imputed interest(1,655)
Total lease liability$32,028