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Equity-Based Compensation Awards (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Equity-Based Compensation Expense | The following table summarizes compensation cost we recognized in connection with our equity-based compensation awards for the years indicated:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in thousands)
Equity-based compensation expense (income): |  |  |  |  |
Liability-classified profits interest awards | $ | 3,446 |  |  | $ | 298 |  |  | $ | 10,137 |
Equity-classified profits interest awards | (11,649) |  |  | 12,799 |  |  | 2,403 |
Equity-classified LTIP RSU awards | 2,999 |  |  | 1,685 |  |  | 1,192 |
Equity-classified LTIP PSU awards | 639 |  |  | 118 |  |  | — |
Equity-classified Manager PSUs | 188,138 |  |  | 68,036 |  |  | 24,331 |
SilverBow Merger awards | 9,908 |  |  | — |  |  | — |
Total equity-based compensation expense (income) | $ | 193,481 |  |  | $ | 82,936 |  |  | $ | 38,063 |
Tax benefit related to equity-based compensation awards | $ | 851 |  |  | $ | 277 |  |  | $ | — |
Schedule of Transactions Involving Unvested Units | Transactions involving all of our unvested liability-classified stock-based compensation profits interests awards is summarized below:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (units in thousands)
Beginning balance | 1 |  |  | 1 |  |  | 708 |
Granted | 371 |  |  | — |  |  | — |
Vested | (371) |  |  | — |  |  | — |
Forfeited | — |  |  | — |  |  | (707) |
Ending balance | 1 |  |  | 1 |  |  | 1 |
| (in millions)
Fair value of vested awards | $ | 7.3 |  |  | $ | — |  |  | $ | — |
Cash settlements of liability-classified profits interest awards | 7.3 |  |  | — |  |  | — |
Transactions involving all of our unvested equity-classified profits interest awards, including weighted average grant date fair values, are summarized below:
| Units |  | Weighted average grant date fair value
| (in thousands) |  |
Unvested at December 31, 2022 | 118,801 |  |  | $ | 0.66 |
Granted | 433 |  |  | 54.97 |
Vested | (15) |  |  | — |
Forfeited | (12,630) |  |  | 0.78 |
Unvested at December 31, 2023 | 106,589 |  |  | $ | 0.86 |
Granted | — |  |  | — |
Modified | — |  |  | — |
Vested | (43,905) |  |  | 0.14 |
Forfeited | (2,784) |  |  | 29.23 |
Unvested at December 31, 2024 | 59,900 |  |  | $ | 0.07 |
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in thousands)
Cash settlement of awards during the period | $ | — |  |  | $ | — |  |  | $ | — |
Fair value of awards vested during the period | 6,361 |  |  | — |  |  | 2,403 |
Transactions involving all of our unvested equity-classified LTIP RSU awards, including weighted average grant date fair values, are summarized below:
| Restricted Stock Units |  | Weighted average grant date fair value
| (in thousands) |  |
Unvested at December 31, 2022 | 130 |  |  | $ | 18.41 |
Granted | 243 |  |  | 11.74 |
Vested | (86) |  |  | 18.41 |
Forfeited | — |  |  | — |
Unvested at December 31, 2023 | 287 |  |  | $ | 12.77 |
Granted | 301 |  |  | 11.45 |
Vested | (116) |  |  | 11.99 |
Forfeited | (26) |  |  | 17.42 |
Unvested at December 31, 2024 | 446 |  |  | $ | 11.82 |
Transactions involving all of our unvested equity-classified LTIP PSU awards, including weighted average grant date fair value, are summarized below:
| Target Class A Shares |  | Weighted average grant date fair value
| (in thousands) |  |
Unvested at December 31, 2022 | — |  |  | $ | — |
Granted | 102 |  |  | 22.75 |
Vested | — |  |  | — |
Forfeited | — |  |  | — |
Unvested at December 31, 2023 | 102 |  |  | $ | 22.75 |
Granted | — |  |  | — |
Vested | — |  |  | — |
Forfeited | — |  |  | — |
Unvested at December 31, 2024 | 102 |  |  | $ | 22.75 |
Transactions involving all of our unvested Manager PSUs are summarized below:
| Target Class A Shares |  |
| (in thousands) |  |
Unvested at December 31, 2022 | 4,827 |  |  |
Granted | 4,333 |  |  |
Vested | — |  |  |
Forfeited | — |  |  |
Unvested at December 31, 2023 | 9,160 |  |  |
Granted | 9,546 |  |  |
Vested | (3,741) |  |  |
Forfeited | — |  |  |
Unvested at December 31, 2024 | 14,965 |  |  |

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