Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.22.0.1
Leases (Tables)
12 Months Ended
Dec. 31, 2021
Notes Tables  
Lease, Cost [Table Text Block]

December 31, 

    

2021

    

2020

Operating lease cost, excluding short-term leases

$

1,743

$

3,060

Short-term lease cost (1)

 

5,926

 

1,633

Total lease cost

$

7,669

$

4,693

(1) 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 balance sheet. The majority of such costs were recorded within Oil and natural gas properties and other, net, on the Consolidated Balance Sheet.
Operating Lease, Lessee, Assets and Liabilities [Table Text Block]

The present value of the fixed lease payments recorded as the Company’s right-of-use asset and liability, adjusted for initial direct costs and incentives are as follows (in thousands):

    

December 31, 

2021

    

2020

ROU assets

$

10,602

$

11,509

Lease liability:

 

  

 

  

Accrued liabilities

$

1,115

$

394

Other liabilities

 

11,227

 

11,360

Total lease liability

$

12,342

$

11,754

Lessee, Operating Lease, Weighted Average Remaining Lease Term and Discount Rate [Table Text Block]

The table below presents the weighted average remaining lease term and discount rate related to leases (in thousands):

December 31, 

 

    

2021

    

2020

 

Weighted average remaining lease term:

14.1 years

14.8 years

Weighted average discount rate:

 

10.1

%  

10.2

%

Lessee, Operating Lease, Supplemental Cash Flow Information [Table Text Block]

The table below presents the supplemental cash flow information related to leases (in thousands):

December 31, 

    

2021

    

2020

Operating cash outflow from operating leases

$

425

$

1,825

Right-of-use assets obtained in exchange for new operating lease liabilities

$

$

5,142

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Undiscounted future minimum payments as of December 31, 2021 are as follows (in thousands):

2022

    

$

1,134

2023

 

1,625

2024

 

2,023

2025

 

1,512

2026

 

1,542

Thereafter

 

15,919

Total lease payments

 

23,755

Present value adjustment

 

(11,413)

Total

$

12,342