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Equity-Based Compensation Awards (Tables)

12 Months Ended

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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Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
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-Publisher FASB
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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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