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Leases (Tables) | 3 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Components of Lease Costs | The components of lease costs were as follows (in thousands):
| Three Months Ended March 31, |
| 2024 |  | 2023 |
Finance lease cost - interest on lease liabilities | $ | 3,372 |  | $ | 3,708 |
Operating lease cost, excluding short-term leases(1) |  | 897 |  |  | 908 |
Short-term lease cost(2) |  | 12,652 |  |  | 32,985 |
Variable lease cost(3) |  | 616 |  |  | 363 |
Variable and fixed sublease income |  | (359 | ) |  | — |
Total lease cost | $ | 17,178 |  | $ | 37,964 |
(1) Operating lease cost reflect a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a straight-line basis. (2) Short-term lease costs are reported at gross amounts and primarily represent costs incurred for drilling rigs, most of which are short-term contracts not recognized as a right-of-use asset and lease liability on the Condensed Consolidated Balance Sheets. (3) Variable lease costs primarily represent differences between minimum payment obligations and actual operating charges incurred by the Company related to its long-term leases.
Schedule of Right-of-Use ("ROU") Asset and Lease Liability, Adjusted for Initial Direct Costs and Incentives | The present value of the fixed lease payments recorded as the Company’s right-of-use (“ROU”) assets and lease liabilities, adjusted for initial direct costs and incentives were as follows (in thousands):
| March 31, 2024 |  | December 31, 2023 |
Operating leases: |  |  |  |
Operating lease assets | $ | 12,676 |  | $ | 11,418 |
Current portion of operating lease liabilities | $ | 3,543 |  | $ | 2,666 |
Operating lease liabilities |  | 18,271 |  |  | 18,211 |
Total operating lease liabilities | $ | 21,814 |  | $ | 20,877 |
Finance leases: |  |  |  |
Proved properties | $ | 166,261 |  | $ | 166,261 |
Other current liabilities | $ | 18,279 |  | $ | 17,834 |
Other long-term liabilities |  | 126,461 |  |  | 131,230 |
Total finance lease liabilities | $ | 144,740 |  | $ | 149,064 |
Supplemental Cash Flow Information Related to Leases | The table below presents the supplemental cash flow information related to leases (in thousands):
| Three Months Ended March 31, |
| 2024 |  | 2023 |
Operating cash outflow from finance leases | $ | 3,372 |  | $ | 3,708 |
Operating cash outflow from operating leases | $ | 1,217 |  | $ | 1,265 |
ROU assets obtained in exchange for new operating lease liabilities(1) | $ | 1,601 |  | $ | 12,971 |
(1) See QuarterNorth Acquisition and EnVen Acquisition each in Note 2 — Acquisitions and Divestitures.

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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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