Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2021 |
|---|
| 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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2021 |
|
2020 |
|
2019 |
|
Customer |
|
|
|
|
|
|
|
BP Products North America |
|
34 |
% |
39 |
% |
40 |
% |
Chevron - Texaco |
|
14 |
% |
** |
|
** |
|
Mercuria Energy America Inc. |
|
** |
|
10 |
% |
** |
|
Shell Trading (US) Co./ Shell Energy N.A. |
|
** |
|
** |
|
11 |
% |
Vitol Inc. |
|
** |
|
** |
|
12 |
% |
Williams Field Services |
|
11 |
% |
13 |
% |
** |
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| Accounts Receivable, Allowance for Credit Loss [Table Text Block] |
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2021 |
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2020 |
|
2019 |
Allowance for credit losses, beginning of period |
|
$ |
9,123 |
|
$ |
9,898 |
|
$ |
9,692 |
Additional provisions for the year |
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|
2,192 |
|
|
417 |
|
|
206 |
Uncollectible accounts written off or collected |
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|
(1,269) |
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|
(1,192) |
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|
— |
Allowance for credit losses, end of period |
|
$ |
10,046 |
|
$ |
9,123 |
|
$ |
9,898 |
|
| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] |
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December 31, |
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2021 |
|
2020 |
Derivatives – current (1) |
|
$ |
21,086 |
|
$ |
2,752 |
Unamortized insurance/bond premiums |
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|
5,400 |
|
|
4,717 |
Prepaid deposits related to royalties |
|
|
8,441 |
|
|
4,473 |
Prepayment to vendors |
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|
4,522 |
|
|
1,429 |
Prepayments to joint interest partners |
|
|
2,808 |
|
|
402 |
Debt issue costs |
|
|
1,065 |
|
|
— |
Other |
|
|
57 |
|
|
59 |
Prepaid expenses and other assets |
|
$ |
43,379 |
|
$ |
13,832 |
|
(1) |
Includes both open and closed contracts that have not yet settled and prepaid premiums paid for purchased put and call options.
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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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2021 |
|
2020 |
Oil and natural gas properties and equipment |
|
$ |
8,636,408 |
|
$ |
8,567,509 |
Furniture, fixtures and other |
|
|
20,844 |
|
|
20,847 |
Total property and equipment |
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8,657,252 |
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|
8,588,356 |
Less: Accumulated depreciation, depletion, amortization and impairment |
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7,992,000 |
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|
7,901,478 |
Oil and natural gas properties and other, net |
|
$ |
665,252 |
|
$ |
686,878 |
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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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2021 |
|
2020 |
Right-of-Use assets (Note 8) |
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$ |
10,602 |
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$ |
11,509 |
Unamortized debt issuance costs |
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|
— |
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|
2,094 |
Investment in White Cap, LLC |
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|
2,533 |
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|
2,699 |
Unamortized brokerage fee for Monza |
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|
— |
|
|
626 |
Proportional consolidation of Monza's other assets (Note 5) |
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|
2,511 |
|
|
1,782 |
Derivatives (1) |
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|
34,435 |
|
|
2,762 |
Other |
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|
1,091 |
|
|
998 |
Total other assets (long-term) |
|
$ |
51,172 |
|
$ |
22,470 |
|
(1) |
Includes open contracts and prepaid premiums paid for purchased put and call options |
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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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2021 |
|
2020 |
Accrued interest |
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$ |
10,154 |
|
$ |
10,389 |
Accrued salaries/payroll taxes/benefits |
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|
9,617 |
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|
4,009 |
Litigation accruals |
|
|
646 |
|
|
436 |
Lease liability |
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|
1,115 |
|
|
394 |
Derivatives (1) |
|
|
81,456 |
|
|
13,620 |
Other |
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|
3,152 |
|
|
1,032 |
Total accrued liabilities |
|
$ |
106,140 |
|
$ |
29,880 |
|
(1) |
Includes both open and closed contracts. |
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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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2021 |
|
2020 |
Dispute related to royalty deductions |
|
$ |
5,177 |
|
$ |
5,467 |
Derivatives |
|
|
37,989 |
|
|
4,384 |
Lease liability (Note 8) |
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|
11,227 |
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|
11,360 |
Black Elk escrow |
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|
— |
|
|
11,103 |
Other |
|
|
996 |
|
|
624 |
Total other liabilities (long-term) |
|
$ |
55,389 |
|
$ |
32,938 |
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