SHARE-BASED AWARDS AND CASH BASED AWARDS (Tables)
|
6 Months Ended |
Jun. 30, 2023 |
|---|
| Notes Tables |
|
| Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block] |
A summary of activity related to RSUs during the six months ended June 30, 2023 is as follows:
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Weighted |
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Average |
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Restricted |
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Grant Date Fair |
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|
Stock Units |
|
Value Per Unit |
Nonvested, beginning of period |
|
1,221,461 |
|
$ |
5.76 |
Granted |
|
1,527,221 |
|
|
4.09 |
Vested |
|
(486,134) |
|
|
5.62 |
Forfeited |
|
(80,911) |
|
|
5.97 |
Nonvested, end of period |
|
2,181,637 |
|
|
4.61 |
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| Schedule of Nonvested Performance-based Units Activity [Table Text Block] |
A summary of activity related to PSUs during the six months ended June 30, 2023 is as follows:
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Weighted |
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|
|
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Average |
|
|
Performance |
|
Grant Date Fair |
|
|
Share Units |
|
Value Per Unit |
Nonvested, beginning of period |
|
1,502,239 |
|
$ |
9.78 |
Granted |
|
1,187,638 |
|
|
4.87 |
Vested |
|
(10,705) |
|
|
7.80 |
Forfeited |
|
(188,307) |
|
|
10.05 |
Nonvested, end of period |
|
2,490,865 |
|
|
7.43 |
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| Share-based Payment Arrangement, Nonemployee Director Award Plan, Activity [Table Text Block] |
A summary of activity related to restricted shares during the six months ended June 30, 2023 is as follows:
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Weighted |
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|
|
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Average |
|
|
|
|
Grant Date |
|
|
Restricted |
|
Fair Value |
|
|
Shares |
|
Per Share |
Nonvested, beginning of period |
|
42,426 |
|
$ |
4.95 |
Vested |
|
(42,426) |
|
|
4.95 |
Nonvested, end of period |
|
— |
|
$ |
— |
|
| Share-based Payment Arrangement, Cost by Plan [Table Text Block] |
Compensation costs for share-based payments are recognized over the requisite service period. A summary of compensation expense under share-based payment arrangements is as follows (in thousands):
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|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Restricted stock units |
|
$ |
945 |
|
$ |
1,360 |
|
$ |
1,443 |
|
$ |
1,610 |
Performance share units |
|
|
1,124 |
|
|
598 |
|
|
2,496 |
|
|
803 |
Restricted Shares |
|
|
18 |
|
|
56 |
|
|
70 |
|
|
121 |
Total |
|
$ |
2,087 |
|
$ |
2,014 |
|
$ |
4,009 |
|
$ |
2,534 |
|
| Schedule of Incentive Compensation Expense [Table Text Block] |
A summary of compensation expense related to share-based awards and cash-based awards is as follows (in thousands):
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Three Months Ended June 30, |
|
Six Months Ended June 30, |
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|
2023 |
|
2022 |
|
2023 |
|
2022 |
Share-based compensation included in: |
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|
|
|
|
|
|
|
|
|
|
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General and administrative expenses |
|
$ |
2,087 |
|
$ |
2,014 |
|
$ |
4,009 |
|
$ |
2,534 |
Cash-based incentive compensation included in: |
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|
|
|
|
|
|
|
|
|
|
|
Lease operating expense(1) |
|
|
321 |
|
|
206 |
|
|
1,568 |
|
|
462 |
General and administrative expenses(1) |
|
|
899 |
|
|
646 |
|
|
6,869 |
|
|
2,603 |
Total charged to operating income (loss) |
|
$ |
3,307 |
|
$ |
2,866 |
|
$ |
12,446 |
|
$ |
5,599 |
|
(1) |
Includes adjustments of accruals to actual payments. |
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| Performance Share Units [Member] |
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| Notes Tables |
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| Schedule of Share-based Payment Award, Equity Instrument Other Than Options, Valuation Assumptions [Table Text Block] |
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|
2023 Grant Date |
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|
June 5, 2023 |
Expected term for performance period (in years) |
|
|
2.6 |
|
Expected volatility |
|
|
76.1 |
% |
Risk-free interest rate |
|
|
4.2 |
% |
Fair value (in thousands) |
|
$ |
5,694 |
|
|