SIGNIFICANT ACCOUNTING POLICIES (Tables)
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12 Months Ended |
Dec. 31, 2022 |
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| Notes Tables |
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| Schedules of Concentration of Risk, by Risk Factor [Table Text Block] |
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Year Ended December 31, |
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2022 |
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2021 |
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2020 |
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Customer |
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BP Products North America |
|
31 |
% |
34 |
% |
39 |
% |
Chevron - Texaco |
|
13 |
% |
14 |
% |
** |
|
Mercuria Energy America Inc. |
|
** |
|
** |
|
10 |
% |
Williams Field Services |
|
** |
|
11 |
% |
13 |
% |
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| Accounts Receivable, Allowance for Credit Loss [Table Text Block] |
The following table describes the balance and changes to the allowance for credit losses (in thousands):
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2022 |
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2021 |
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2020 |
Allowance for credit losses, beginning of period |
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$ |
10,046 |
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$ |
9,123 |
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$ |
9,898 |
Additional provisions for the year |
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|
3,085 |
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|
2,192 |
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|
417 |
Uncollectible accounts written off or collected |
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(1,069) |
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(1,269) |
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(1,192) |
Allowance for credit losses, end of period |
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$ |
12,062 |
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$ |
10,046 |
|
$ |
9,123 |
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| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] |
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December 31, |
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2022 |
|
2021 |
Derivatives(1) (Note 10) |
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$ |
4,954 |
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$ |
21,086 |
Unamortized insurance/bond premiums |
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|
6,046 |
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|
5,400 |
Prepaid deposits related to royalties |
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|
9,139 |
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|
8,441 |
Prepayment to vendors |
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|
1,767 |
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|
4,522 |
Prepayments to joint interest partners |
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|
1,717 |
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|
2,808 |
Debt issue costs |
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|
687 |
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|
1,065 |
Other |
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|
33 |
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|
57 |
Prepaid expenses and other assets |
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$ |
24,343 |
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$ |
43,379 |
|
(1) |
Includes closed contracts which have not yet settled and the current portion of open contracts. |
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| Property, Plant and Equipment [Table Text Block] |
The following table provides the components of Oil and natural gas properties and other, net (in thousands):
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December 31, |
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2022 |
|
2021 |
Oil and natural gas properties and equipment |
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$ |
8,813,404 |
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$ |
8,636,408 |
Furniture, fixtures and other |
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20,915 |
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|
20,844 |
Total property and equipment |
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8,834,319 |
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8,657,252 |
Less: Accumulated depreciation, depletion, amortization and impairment |
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(8,099,104) |
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(7,992,000) |
Oil and natural gas properties and other, net |
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$ |
735,215 |
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$ |
665,252 |
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| Schedule of Other Assets, Noncurrent [Table Text Block] |
The major categories recorded in Other assets are presented in the following table (in thousands):
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December 31, |
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2022 |
|
2021 |
Right-of-Use assets |
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$ |
10,364 |
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$ |
10,602 |
Investment in White Cap, LLC |
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|
2,453 |
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|
2,533 |
Proportional consolidation of Monza (Note 5) |
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9,321 |
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2,511 |
Derivatives(1) (Note 10) |
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23,236 |
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34,435 |
Other |
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2,175 |
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|
1,091 |
Total other assets (long-term) |
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$ |
47,549 |
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$ |
51,172 |
|
(1) |
Includes open contracts. |
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| Schedule of Accrued Liabilities [Table Text Block] |
The major categories recorded in Accrued liabilities are presented in the following table (in thousands):
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December 31, |
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2022 |
|
2021 |
Accrued interest |
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$ |
8,967 |
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$ |
10,154 |
Accrued salaries/payroll taxes/benefits |
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|
15,097 |
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|
9,617 |
Litigation accruals |
|
|
396 |
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|
646 |
Lease liability |
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|
1,628 |
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|
1,115 |
Derivatives(1) (Note 10) |
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46,595 |
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81,456 |
Other |
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|
1,358 |
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|
3,152 |
Total accrued liabilities |
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$ |
74,041 |
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$ |
106,140 |
|
(1) |
Includes closed contracts which have not yet settled. |
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| Other Noncurrent Liabilities [Table Text Block] |
The major categories recorded in Other liabilities are presented in the following table (in thousands):
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December 31, |
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2022 |
|
2021 |
Dispute related to royalty deductions |
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$ |
4,937 |
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$ |
5,177 |
Derivatives (Note 10) |
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43,061 |
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|
37,989 |
Lease liability |
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|
10,527 |
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|
11,227 |
Other |
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|
609 |
|
|
996 |
Total other liabilities (long-term) |
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$ |
59,134 |
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$ |
55,389 |
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