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Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Plans

Our share-based compensation plans at December 31, 2024 are as follows:

Plan Name						Shares Authorized for Grant						Shares Underlying Awards Outstanding						Shares Available for Grant
2021 Plan						39,074,510						6,440,885						17,520,596
NexTier Plan						—						977,011						—
Former C&J Energy Plan						—						406,405						—
2014 Plan						—						1,719,275						—

Schedule of Stock Option Activity

Stock option activity for the year ended December 31, 2024 follows:

			Shares						Weighted Average Exercise Price Per Share
Outstanding at beginning of year			2,865,223						$	23.36
Exercised			—						$	—
Expired			(1,071,218)						$	25.19
Outstanding at end of year			1,794,005						$	22.26
Exercisable at end of year			1,794,005						$	22.26

Schedule of Additional Information with Respect to Non-vested Options

Additional information with respect to options granted, vested and exercised during the years ended December 31, 2024, 2023 and 2022 follows (in thousands, except per share data):

			2024						2023						2022
Weighted-average grant date fair value of stock options granted (per share)			NA						NA						NA
Aggregate grant date fair value of stock options vested during the year			$	—					$	—					$	—
Aggregate intrinsic value of stock options exercised			$	—					$	—					$	410

Schedule of Restricted Stock Activity

Restricted stock unit activity for the year ended December 31, 2024 follows:

			Time Based						Performance Based						Weighted Average Grant Date Fair Value Per Share
Non-vested restricted stock units outstanding at beginning of year			5,827,668						521,533						$	10.60
Granted			3,113,411						—						$	10.49
Vested			(3,245,228)						(45,661)						$	9.11
Forfeited			(268,194)						(23,358)						$	11.33
Non-vested restricted stock units outstanding at end of year			5,427,657						452,514						$	11.34

Schedule of Restricted Stock Unit Activity

Additional information as of December 31, 2024 with respect to these non-vested restricted stock units follows (dollars in thousands):

Aggregate intrinsic value			$	45,167
Weighted-average remaining vesting period			1.71 years
Unrecognized compensation cost			$	42,828

Schedule of Performance Units

The total target number of shares granted with respect to the Performance Units for the years 2019-2024 is set forth below:

			2024 Performance Unit Awards						2023 Performance Unit Awards						2022 Performance Unit Awards						2021 Performance Unit Awards						2020 Performance Unit Awards						2019 Performance Unit Awards
Target number of shares			875,100						631,700						414,000						843,000						500,500						489,800

Schedule of Fair Value of Performance Units

The fair value of the Performance Units is set forth below (in thousands):

			2024 Performance Unit Awards						2023 Performance Unit Awards						2022 Performance Unit Awards						2021 Performance Unit Awards						2020 Performance Unit Awards						2019 Performance Unit Awards
Aggregate fair value at date of grant			$	10,904					$	8,440					$	10,743					$	7,225					$	826					$	9,958

Schedule of Weighted Average Assumptions Used to Estimate Fair Value of Options

The weighted-average fair value calculations for performance units granted during the years ended December 31, 2024, 2023 and 2022 were based on the following weighted-average assumptions set forth below:

			2024						2023						2022
Risk-free interest rate (1)			4.6		%				3.6		%				2.9		%
Expected stock volatility (2)			56.9		%				72.1		%				86.5		%
Expected dividend yield (3)			2.9		%				3.0		%				1.0		%
Expected term (in years)			3						3						3

(1)The risk-free interest rate is based on U.S. Treasury securities for the expected term of the Performance Units.

(2)Expected volatilities are based on the daily closing price of our stock based upon historical experience over a three-year period.

(3)Expected dividend yield is based on the annualized dividend in effect on the measurement date and the stock price on the grant date.

Schedule of Compensation Expense Associated with Performance Units

Compensation expense associated with the Performance Units is set forth below (in thousands):

			2024 Performance Unit Awards						2023 Performance Unit Awards						2022 Performance Unit Awards						2021 Performance Unit Awards						2020 Performance Unit Awards						2019 Performance Unit Awards
Year ended December 31, 2024			$	2,436					$	2,665					$	3,459					$	584					NA						NA
Year ended December 31, 2023			NA						$	2,248					$	3,749					$	2,426					$	69					NA
Year ended December 31, 2022			NA						NA						$	2,686					$	2,408					$	275					$	830

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