SHARE-BASED AWARDS AND CASH-BASED INCENTIVE COMPENSATION (Tables)
|
9 Months Ended |
Sep. 30, 2023 |
|---|
| Notes Tables |
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| Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block] |
A summary of activity related to RSUs during the nine months ended September 30, 2023 is as follows:
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Weighted |
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|
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Average |
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Grant Date |
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Restricted |
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Fair Value |
|
|
Stock Units |
|
per Unit |
Nonvested, beginning of period |
|
1,221,461 |
|
$ |
5.76 |
Granted |
|
1,785,960 |
|
|
4.06 |
Vested |
|
(486,134) |
|
|
5.62 |
Forfeited |
|
(111,717) |
|
|
5.72 |
Nonvested, end of period |
|
2,409,570 |
|
|
4.53 |
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| Schedule of Nonvested Performance-based Units Activity [Table Text Block] |
A summary of activity related to PSUs during the nine months ended September 30, 2023 is as follows:
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Weighted |
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|
|
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Average |
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|
|
|
|
Grant Date |
|
|
Performance |
|
Fair Value |
|
|
Share Units |
|
per Unit |
Nonvested, beginning of period |
|
1,502,239 |
|
$ |
9.78 |
Granted |
|
1,289,720 |
|
|
4.85 |
Vested |
|
(9,308) |
|
|
8.13 |
Forfeited |
|
(231,175) |
|
|
9.69 |
Nonvested, end of period |
|
2,551,476 |
|
|
7.30 |
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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 nine months ended September 30, 2023 is as follows:
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|
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Weighted |
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|
|
|
Average |
|
|
|
|
Grant Date |
|
|
Restricted |
|
Fair Value |
|
|
Shares |
|
per Share |
Nonvested, beginning of period |
|
42,426 |
|
$ |
4.95 |
Granted |
|
— |
|
|
— |
Vested |
|
(42,426) |
|
|
4.95 |
Nonvested, end of period |
|
— |
|
|
— |
|
| Share-based Payment Arrangement, Cost by Plan [Table Text Block] |
The following table presents the compensation costs included in General and administrative expenses in the Condensed Consolidated Statements of Operations (in thousands):
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|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Restricted stock units |
|
$ |
1,506 |
|
$ |
1,240 |
|
$ |
2,949 |
|
$ |
2,852 |
Performance share units |
|
|
1,744 |
|
|
1,352 |
|
|
4,240 |
|
|
2,154 |
Restricted shares |
|
|
— |
|
|
53 |
|
|
70 |
|
|
173 |
Total |
|
$ |
3,250 |
|
$ |
2,645 |
|
$ |
7,259 |
|
$ |
5,179 |
|
| 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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|
|
|
|
Expected term for performance period (in years) |
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|
2.6 |
|
Expected volatility |
|
|
76.1 |
% |
Risk-free interest rate |
|
|
4.2 |
% |
|
| Long-term Cash-Based Incentive Compensation [Member] |
|
| Notes Tables |
|
| Schedule of Incentive Compensation Expense [Table Text Block] |
The following table presents the cash-based incentive compensation costs in the Condensed Consolidated Statements of Operations (in thousands):
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Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Lease operating expenses |
|
$ |
1,142 |
|
$ |
1,532 |
|
$ |
2,710 |
|
$ |
1,994 |
General and administrative expenses |
|
|
2,609 |
|
|
3,559 |
|
|
9,478 |
|
|
6,164 |
Total |
|
$ |
3,751 |
|
$ |
5,091 |
|
$ |
12,188 |
|
$ |
8,158 |
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