XML 39 R22.htm IDEA: XBRL DOCUMENT v3.23.3
LEASES
 9 Months Ended
Sep. 30, 2023
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 leases (in thousands):
September 30, 2023December 31, 2022
Operating Leases
Field equipment(1)
$64,076 $15,131 
Corporate leases6,140 8,235 
Vehicles 4,446 759 
Total right-of-use asset$74,662 $24,125 
Field equipment(1)
$64,132 $15,131 
Corporate leases6,796 8,898 
Vehicles4,446 759 
Total lease liability$75,374 $24,788 
Finance Leases
Right of use asset - field equipment$17,104 $— 
Lease liability - field equipment$17,131 $— 
____________________________
(1)Includes drilling rigs, compressors, certain natural gas processing equipment, and other field equipment.
Future commitments by year for the Company’s leases with a lease term of greater than one year as of September 30, 2023 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 LeasesFinance Leases
Remainder of 2023$11,103 $992 
202439,100 4,210 
202521,887 4,277 
20265,554 4,020 
20272,138 3,683 
Thereafter654 2,810 
Total lease payments80,436 19,992 
Less: imputed interest(5,062)(2,861)
Total lease liability$75,374 $17,131 
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 leases (in thousands):
September 30, 2023December 31, 2022
Operating Leases
Field equipment(1)
$64,076 $15,131 
Corporate leases6,140 8,235 
Vehicles 4,446 759 
Total right-of-use asset$74,662 $24,125 
Field equipment(1)
$64,132 $15,131 
Corporate leases6,796 8,898 
Vehicles4,446 759 
Total lease liability$75,374 $24,788 
Finance Leases
Right of use asset - field equipment$17,104 $— 
Lease liability - field equipment$17,131 $— 
____________________________
(1)Includes drilling rigs, compressors, certain natural gas processing equipment, and other field equipment.
Future commitments by year for the Company’s leases with a lease term of greater than one year as of September 30, 2023 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 LeasesFinance Leases
Remainder of 2023$11,103 $992 
202439,100 4,210 
202521,887 4,277 
20265,554 4,020 
20272,138 3,683 
Thereafter654 2,810 
Total lease payments80,436 19,992 
Less: imputed interest(5,062)(2,861)
Total lease liability$75,374 $17,131