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Leases | 6 Months Ended
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Jun. 30, 2024
Leases |
Leases | 7.Leases In the normal course of business, we enter into operating lease agreements to support our operations. Our leased assets include right-of-way easements for our wells and facilities, office space and other assets. We currently have no finance leases. Balance Sheet Information The following table provides supplemental consolidated balance sheet information related to leases: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) | ​ | ​ | June 30, |  | December 31,
​ | Classification | ​ | 2024 | ​ | 2023
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​
Right-of-Use Assets | Right-of-Use Assets | ​ | $ | 15,839 | ​ | $ | 16,726
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Lease Liabilities | Accrued and Other Current Liabilities | ​ | $ | 1,763 | ​ | $ | 1,676
Noncurrent Lease Liabilities | Other Long-Term Liabilities | ​ | ​ | 14,242 | ​ | ​ | 14,716
​ Statement of Operations Information The following table provides the components of lease cost, excluding lease costs related to short-term leases: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) | Three Months Ended June 30, | ​ | Six Months Ended June 30,
​ | ​ | 2024 |  | 2023 | ​ | ​ | 2024 |  | 2023
Direct Operating Costs | $ | 340 | ​ | $ | 310 | ​ | $ | 676 | ​ | $ | 603
General and Administrative | ​ | 517 | ​ | ​ | 177 | ​ | ​ | 1,034 | ​ | ​ | 397
Total Lease Cost | $ | 857 | ​ | $ | 487 | ​ | $ | 1,710 | ​ | $ | 1,000
​ Short-Term Leases Our short-term lease costs, which consisted primarily of field equipment rentals, totaled $3.7 million and $3.2 million for the three months ended June 30, 2024 and 2023, respectively, and $6.8 million and $7.7 million for the six months ended June 30, 2024 and 2023, respectively. Cash Flow Information The following table summarizes supplemental cash flow information related to leases: ​
​ | ​ | ​ | ​ | ​ | ​
(in thousands) | Six Months Ended June 30,
​ | ​ | 2024 |  | ​ | 2023
Cash Paid for Amounts Included in Lease Liabilities | $ | 1,209 | ​ | $ | 625
Right-of-Use Assets Obtained in Exchange for Operating Lease Liabilities, Net | ​ | 333 | ​ | ​ | 1,415
​ Lease Terms and Discount Rates The following table provides lease terms and discount rates related to leases: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2024 | ​ | December 31, 2023
Weighted Average Remaining Lease Term (Years) | ​ | ​ | 7.2 | ​ | ​ | 7.6
Weighted Average Discount Rate | ​ | ​ | 6.34% | ​ | ​ | 6.30%
​ Annual Lease Maturities The following table provides maturities of lease liabilities at June 30, 2024: ​
​ | ​ | ​ | ​ | ​
(in thousands) | ​ | ​ | ​ | ​
Remainder of 2024 | ​ | ​ | $ | 1,300
2025 | ​ | ​ | ​ | 2,210
2026 | ​ | ​ | ​ | 1,941
2027 | ​ | ​ | ​ | 3,182
2028 | ​ | ​ | ​ | 2,748
Thereafter | ​ | ​ | ​ | 8,941
Total Lease Payments | ​ | ​ | ​ | 20,322
Less: Interest | ​ | ​ | ​ | (4,317)
Present Value of Lease Liabilities | ​ | ​ | $ | 16,005
​ ​ ​ ​ ​ Subleases During the fourth quarter of 2023, we entered into two subleases related to our previous office space in Houston, Texas. The subtenants are responsible for monthly fixed rent and certain operating expenses associated with the office building, including utilities, which are considered variable lease payments. The sublease income is recorded as a reduction of rent expense under our head lease and is included in “General and Administrative” expense on the consolidated statements of operations. During the three and six months ended June 30, 2024, we recognized total sublease income of $0.1 million and $0.3 million, respectively, including variable lease payments.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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