Definitive proxy statements

Pay vs Performance Disclosure

v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
​
Year
​ ​
Summary
Compensation
Table Total
for PEO (1)
​ ​
Compensation
Actually Paid
to PEO (1)(2)
​ ​
Average
Summary
Compensation
Table Total
for Non-PEO
NEOs (3)
​ ​
Average
Compensation
Actually Paid
to Non-PEO
NEOs (3)(2)
​ ​
Value of Initial Fixed $100
Investment Based On:
​ ​
Net (Loss)
Income
(in thousands) (5)
​ ​
Net Debt
(in thousands) (6)
​
​
Total
Shareholder
Return (4)
​ ​
Peer Group
Total
Shareholder
Return (4)
​
​
2025
​ ​ ​
$
6,183,187
​ ​ ​ ​
$
6,686,147  (7)
​ ​ ​ ​
$
2,729,677
​ ​ ​ ​
$
2,957,740  (7)
​ ​ ​ ​
$
75.12
​ ​ ​ ​
$
217.83
​ ​ ​ ​
$
(150,062)
​ ​ ​ ​
$
210,255
​ ​
​ 2024 ​ ​ ​
$
4,171,834
​ ​ ​ ​
$
574,736  (7)
​ ​ ​ ​
$
1,180,128
​ ​ ​ ​
$
457,837  (7)
​ ​ ​ ​
$
29.86
​ ​ ​ ​
$
141.49
​ ​ ​ ​
$
(87,145)
​ ​ ​ ​
$
284,220
​ ​
​ 2023 ​ ​ ​
$
5,863,561
​ ​ ​ ​
$
324,131
​ ​ ​ ​
$
1,457,399
​ ​ ​ ​
$
513,840
​ ​ ​ ​
$
58.63
​ ​ ​ ​
$
146.23
​ ​ ​ ​
$
15,598
​ ​ ​ ​
$
217,266
​ ​
​ 2022 ​ ​ ​
$
12,111,392
​ ​ ​ ​
$
11,581,183
​ ​ ​ ​
$
1,878,070
​ ​ ​ ​
$
2,779,710
​ ​ ​ ​
$
100.36
​ ​ ​ ​
$
144.89
​ ​ ​ ​
$
231,149
​ ​ ​ ​
$
232,080
​ ​
​ 2021 ​ ​ ​
$
5,492,721
​ ​ ​ ​
$
4,896,511
​ ​ ​ ​
$
1,129,297
​ ​ ​ ​
$
1,065,664
​ ​ ​ ​
$
58.09
​ ​ ​ ​
$
101.81
​ ​ ​ ​
$
(41,478)
​ ​ ​ ​
$
485,099
​ ​
​
(1)
The name of the Principal Executive Officer of the Company (“PEO”) reflected in these columns for each of the applicable fiscal years is Tracy W Krohn.
​
(2)
In calculating the ‘compensation actually paid’ amounts reflected in these columns, the fair value or change in fair value, as applicable, of the equity award adjustments included in such calculations was computed in accordance with FASB ASC Topic 718. The valuation assumptions used to calculate such fair values did not materially differ from those disclosed at the time of grant.
​
(3)
The names of each of the non-PEO NEOs reflected in these columns for each applicable fiscal year are as follows: (i) for fiscal year 2025, Sameer Parasnis, William J. Williford, George J. Hittner and Huan Gamblin (ii) for fiscal year 2024, Sameer Parasnis, Jonathan Curth, William J. Williford and George J. Hittner; (iii) for fiscal year 2023, Sameer Parasnis, Janet Yang, William J. Williford and Jonathan Curth; (iv) for fiscal year 2022, Janet Yang, William J. Williford, Jonathan Curth and Stephen Schroeder; and (v) for fiscal year 2021, Janet Yang, William J. Williford, Stephen Schroeder and Shahid Ghauri.
​
(4)
The Company TSR and the Company’s Peer Group TSR reflected in these columns for each applicable fiscal year is calculated based on a fixed investment of $100 at the applicable measurement point on the same cumulative basis as is used in Item 201(e) of Regulation S-K.
​
The peer group used to determine the Company’s Peer Group TSR for each applicable fiscal year is the following published industry index, as disclosed in our Annual Report on Form 10-K for the year-ended December 31, 2025, pursuant to Item 201(e) of Regulation S-K: SPSIOP.
(5)
Represents the amount of net (loss) income reflected in the Company’s audited GAAP financial statements for each applicable fiscal year.
​
(6)
We have selected Net Debt as our most important financial measure (that is not otherwise required to be disclosed in the table) used to link ‘compensation actually paid’ to our NEOs to company performance for fiscal year 2025. Net Debt is a measure of the Company’s total debt, less the Company’s cash and cash equivalents.
​
(7)
For fiscal year 2025, the ‘compensation actually paid’ to the PEO and the average ‘compensation actually paid’ to the non-PEO NEOs reflect each of the following adjustments made to the total compensation amounts reported in the Summary Compensation Table for fiscal year 2025, computed in accordance with Item 402(v) of Regulation S-K:
​
​
Compensation Actually Paid for Fiscal Year 2025
​ ​
PEO
​ ​
Average
Non-PEO
NEOs
​
​
Total Compensation Reported in 2025 Summary Compensation Table
​ ​ ​ $ 6,183,187 ​ ​ ​ ​ $ 2,729,677 ​ ​
​
Less, Grant Date Fair Value of Stock & Option Awards Reported in the 2025 Summary Compensation Table
​ ​ ​
​
(4,317,289)
 ​ ​ ​ ​
​
(1,821,356)
 ​ ​
​
Plus, Year-End Fair Value of Awards Granted in 2025 that are Outstanding and Unvested
​ ​ ​
​
4,900,340
 ​ ​ ​ ​
​
2,067,331
 ​ ​
​ Plus, Change in Fair Value of Awards Granted in Prior Years that are Outstanding and Unvested (From Prior Year-End to Year-End) ​ ​ ​
​
(82,996)
 ​ ​ ​ ​
​
(17,884)
 ​ ​
​ Plus, Vesting Date Fair Value of Awards Granted in 2025 that Vested in 2025 ​ ​ ​
​
—
 ​ ​ ​ ​
​
—
 ​ ​
​
Plus, Change in Fair Value of Awards Granted in Prior Years that Vested in 2025 (From Prior Year-End to Vesting Date)
​ ​ ​
​
2,904
 ​ ​ ​ ​
​
(28)
 ​ ​
​ Less, Prior Year-End Fair Value of Awards Granted in Prior Years that Failed to Vest in 2025 ​ ​ ​
​
—
 ​ ​ ​ ​
​
—
 ​ ​
​ Plus, Dollar Value of Dividends or other Earnings Paid on Stock & Option Awards in 2025
prior to Vesting (if not reflected in the fair value of such award or included in Total
Compensation for 2025) 		​ ​ ​
​
—
 ​ ​ ​ ​
​
—
 ​ ​
​
Total Adjustments
​ ​ ​ $ 502,960 ​ ​ ​ ​ $ 228,063 ​ ​
​
Compensation Actually Paid for Fiscal Year 2025
​ ​ ​ $ 6,686,147 ​ ​ ​ ​ $ 2,957,740 ​ ​
​
        
Company Selected Measure Name Net Debt        
Named Executive Officers, Footnote
(1)
The name of the Principal Executive Officer of the Company (“PEO”) reflected in these columns for each of the applicable fiscal years is Tracy W Krohn.
(3)
The names of each of the non-PEO NEOs reflected in these columns for each applicable fiscal year are as follows: (i) for fiscal year 2025, Sameer Parasnis, William J. Williford, George J. Hittner and Huan Gamblin (ii) for fiscal year 2024, Sameer Parasnis, Jonathan Curth, William J. Williford and George J. Hittner; (iii) for fiscal year 2023, Sameer Parasnis, Janet Yang, William J. Williford and Jonathan Curth; (iv) for fiscal year 2022, Janet Yang, William J. Williford, Jonathan Curth and Stephen Schroeder; and (v) for fiscal year 2021, Janet Yang, William J. Williford, Stephen Schroeder and Shahid Ghauri.
       
Peer Group Issuers, Footnote
(4)
The Company TSR and the Company’s Peer Group TSR reflected in these columns for each applicable fiscal year is calculated based on a fixed investment of $100 at the applicable measurement point on the same cumulative basis as is used in Item 201(e) of Regulation S-K.
​
The peer group used to determine the Company’s Peer Group TSR for each applicable fiscal year is the following published industry index, as disclosed in our Annual Report on Form 10-K for the year-ended December 31, 2025, pursuant to Item 201(e) of Regulation S-K: SPSIOP.
       
PEO Total Compensation Amount $ 6,183,187 $ 4,171,834 $ 5,863,561 $ 12,111,392 $ 5,492,721
PEO Actually Paid Compensation Amount $ 6,686,147 574,736 324,131 11,581,183 4,896,511
Adjustment To PEO Compensation, Footnote
(7)
For fiscal year 2025, the ‘compensation actually paid’ to the PEO and the average ‘compensation actually paid’ to the non-PEO NEOs reflect each of the following adjustments made to the total compensation amounts reported in the Summary Compensation Table for fiscal year 2025, computed in accordance with Item 402(v) of Regulation S-K:
​
​
Compensation Actually Paid for Fiscal Year 2025
​ ​
PEO
​ ​
Average
Non-PEO
NEOs
​
​
Total Compensation Reported in 2025 Summary Compensation Table
​ ​ ​ $ 6,183,187 ​ ​ ​ ​ $ 2,729,677 ​ ​
​
Less, Grant Date Fair Value of Stock & Option Awards Reported in the 2025 Summary Compensation Table
​ ​ ​
​
(4,317,289)
 ​ ​ ​ ​
​
(1,821,356)
 ​ ​
​
Plus, Year-End Fair Value of Awards Granted in 2025 that are Outstanding and Unvested
​ ​ ​
​
4,900,340
 ​ ​ ​ ​
​
2,067,331
 ​ ​
​ Plus, Change in Fair Value of Awards Granted in Prior Years that are Outstanding and Unvested (From Prior Year-End to Year-End) ​ ​ ​
​
(82,996)
 ​ ​ ​ ​
​
(17,884)
 ​ ​
​ Plus, Vesting Date Fair Value of Awards Granted in 2025 that Vested in 2025 ​ ​ ​
​
—
 ​ ​ ​ ​
​
—
 ​ ​
​
Plus, Change in Fair Value of Awards Granted in Prior Years that Vested in 2025 (From Prior Year-End to Vesting Date)
​ ​ ​
​
2,904
 ​ ​ ​ ​
​
(28)
 ​ ​
​ Less, Prior Year-End Fair Value of Awards Granted in Prior Years that Failed to Vest in 2025 ​ ​ ​
​
—
 ​ ​ ​ ​
​
—
 ​ ​
​ Plus, Dollar Value of Dividends or other Earnings Paid on Stock & Option Awards in 2025
prior to Vesting (if not reflected in the fair value of such award or included in Total
Compensation for 2025) 		​ ​ ​
​
—
 ​ ​ ​ ​
​
—
 ​ ​
​
Total Adjustments
​ ​ ​ $ 502,960 ​ ​ ​ ​ $ 228,063 ​ ​
​
Compensation Actually Paid for Fiscal Year 2025
​ ​ ​ $ 6,686,147 ​ ​ ​ ​ $ 2,957,740 ​ ​
       
Non-PEO NEO Average Total Compensation Amount $ 2,729,677 1,180,128 1,457,399 1,878,070 1,129,297
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,957,740 457,837 513,840 2,779,710 1,065,664
Adjustment to Non-PEO NEO Compensation Footnote
(7)
For fiscal year 2025, the ‘compensation actually paid’ to the PEO and the average ‘compensation actually paid’ to the non-PEO NEOs reflect each of the following adjustments made to the total compensation amounts reported in the Summary Compensation Table for fiscal year 2025, computed in accordance with Item 402(v) of Regulation S-K:
​
​
Compensation Actually Paid for Fiscal Year 2025
​ ​
PEO
​ ​
Average
Non-PEO
NEOs
​
​
Total Compensation Reported in 2025 Summary Compensation Table
​ ​ ​ $ 6,183,187 ​ ​ ​ ​ $ 2,729,677 ​ ​
​
Less, Grant Date Fair Value of Stock & Option Awards Reported in the 2025 Summary Compensation Table
​ ​ ​
​
(4,317,289)
 ​ ​ ​ ​
​
(1,821,356)
 ​ ​
​
Plus, Year-End Fair Value of Awards Granted in 2025 that are Outstanding and Unvested
​ ​ ​
​
4,900,340
 ​ ​ ​ ​
​
2,067,331
 ​ ​
​ Plus, Change in Fair Value of Awards Granted in Prior Years that are Outstanding and Unvested (From Prior Year-End to Year-End) ​ ​ ​
​
(82,996)
 ​ ​ ​ ​
​
(17,884)
 ​ ​
​ Plus, Vesting Date Fair Value of Awards Granted in 2025 that Vested in 2025 ​ ​ ​
​
—
 ​ ​ ​ ​
​
—
 ​ ​
​
Plus, Change in Fair Value of Awards Granted in Prior Years that Vested in 2025 (From Prior Year-End to Vesting Date)
​ ​ ​
​
2,904
 ​ ​ ​ ​
​
(28)
 ​ ​
​ Less, Prior Year-End Fair Value of Awards Granted in Prior Years that Failed to Vest in 2025 ​ ​ ​
​
—
 ​ ​ ​ ​
​
—
 ​ ​
​ Plus, Dollar Value of Dividends or other Earnings Paid on Stock & Option Awards in 2025
prior to Vesting (if not reflected in the fair value of such award or included in Total
Compensation for 2025) 		​ ​ ​
​
—
 ​ ​ ​ ​
​
—
 ​ ​
​
Total Adjustments
​ ​ ​ $ 502,960 ​ ​ ​ ​ $ 228,063 ​ ​
​
Compensation Actually Paid for Fiscal Year 2025
​ ​ ​ $ 6,686,147 ​ ​ ​ ​ $ 2,957,740 ​ ​
       
Compensation Actually Paid vs. Total Shareholder Return
[MISSING IMAGE: bc_compvtsr-pn.jpg]
       
Compensation Actually Paid vs. Net Income
[MISSING IMAGE: bc_compvnetincome-pn.jpg]
       
Compensation Actually Paid vs. Company Selected Measure
[MISSING IMAGE: bc_compvnetdebt-pn.jpg]
       
Total Shareholder Return Vs Peer Group
[MISSING IMAGE: lc_spsioptsr-pn.jpg]
       
Tabular List, Table
​
Most Important Performance Measures
​
​
Production
​
​
HS&E Score
​
​
Adjusted EBITDA
​
​
Adjusted EBITDA Margin
​
​
Net Debt
​
​
TSR
​
       
Total Shareholder Return Amount $ 75.12 29.86 58.63 100.36 58.09
Peer Group Total Shareholder Return Amount 217.83 141.49 146.23 144.89 101.81
Net Income (Loss) $ (150,062,000) $ (87,145,000) $ 15,598,000 $ 231,149,000 $ (41,478,000)
Company Selected Measure Amount 210,255,000 284,220,000 217,266,000 232,080,000 485,099,000
PEO Name Tracy W Krohn        
Measure:: 1          
Pay vs Performance Disclosure          
Name Production        
Measure:: 2          
Pay vs Performance Disclosure          
Name HS&E Score        
Measure:: 3          
Pay vs Performance Disclosure          
Name Adjusted EBITDA        
Measure:: 4          
Pay vs Performance Disclosure          
Name Adjusted EBITDA Margin        
Measure:: 5          
Pay vs Performance Disclosure          
Name Net Debt        
Non-GAAP Measure Description
(6)
We have selected Net Debt as our most important financial measure (that is not otherwise required to be disclosed in the table) used to link ‘compensation actually paid’ to our NEOs to company performance for fiscal year 2025. Net Debt is a measure of the Company’s total debt, less the Company’s cash and cash equivalents.
       
Measure:: 6          
Pay vs Performance Disclosure          
Name TSR        
PEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 502,960        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,317,289)        
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 4,900,340        
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (82,996)        
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount        
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,904        
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount        
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount        
Non-PEO NEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 228,063        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,821,356)        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,067,331        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (17,884)        
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (28)        
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount        
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount