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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Schedule of Balance Sheet Activity, Asset Classes | Our right-of-use assets and lease liabilities are recognized on the accompanying consolidated balance sheets within other noncurrent assets, other liabilities, and other long-term liabilities based on the present value of the expected lease payments over the lease term. The following table summarizes the asset classes of our operating leases (in thousands):
|  | As of December 31,
|  | 2024 |  | 2023
Operating Leases |  |  |  |
Field equipment(1) |  | $ | 68,897 |  |  | $ | 61,662 |
Corporate leases |  | 12,513 |  |  | 8,864 |
Vehicles |  | 12,214 |  |  | 7,740 |
Total right-of-use asset |  | $ | 93,624 |  |  | $ | 78,266 |
Field equipment(1) |  | $ | 68,978 |  |  | $ | 61,741 |
Corporate leases |  | 13,682 |  |  | 9,653 |
Vehicles |  | 12,214 |  |  | 7,740 |
Total lease liability |  | $ | 94,874 |  |  | $ | 79,134 |
____________________________ (1)Includes drilling rigs, compressors, certain natural 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 our gross lease costs incurred for the periods below (in thousands):
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Operating lease cost |  | $ | 58,680 |  |  | $ | 32,769 |  |  | $ | 21,050 |
Short-term lease cost(1) |  | 140,780 |  |  | 79,405 |  |  | 55,059 |
Total lease cost(2) |  | $ | 199,460 |  |  | $ | 112,174 |  |  | $ | 76,109 |
___________________________ (1)Includes drilling rigs and other equipment. Short-term drilling rig costs include a non-lease labor component, which is treated as a single lease component. (2)Variable lease costs represent 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. Variable lease costs were not material for the years ended December 31, 2024, 2023, and 2022.
Schedule of Weighted-Average Information | Our weighted-average remaining lease terms and discount rates as of December 31, 2024 are as follows:
|  | Operating Leases |  |
Weighted-average lease term (years) |  | 2.5 |  |
Weighted-average discount rate |  | 6.2% |  |
Schedule of Future Minimum Commitments for Operating Leases | Future commitments by year for our leases with a lease term of greater than one year as of December 31, 2024 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 consolidated balance sheets as follows (in thousands):
|  | Operating Leases |  |
2025 |  | $ | 50,626 |  |  |
2026 |  | 26,226 |  |  |
2027 |  | 13,248 |  |  |
2028 |  | 5,313 |  |  |
2029 |  | 3,246 |  |  |
Thereafter |  | 3,815 |  |  |
Total lease payments |  | 102,474 |  |  |
Less: Imputed interest |  | (7,600) |  |  |
Total lease liability |  | $ | 94,874 |  |  |
Schedule of Future Minimum Commitments for Finance Leases | Future commitments by year for our leases with a lease term of greater than one year as of December 31, 2024 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 consolidated balance sheets as follows (in thousands):
|  | Operating Leases |  |
2025 |  | $ | 50,626 |  |  |
2026 |  | 26,226 |  |  |
2027 |  | 13,248 |  |  |
2028 |  | 5,313 |  |  |
2029 |  | 3,246 |  |  |
Thereafter |  | 3,815 |  |  |
Total lease payments |  | 102,474 |  |  |
Less: Imputed interest |  | (7,600) |  |  |
Total lease liability |  | $ | 94,874 |  |  |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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