Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2021

Extractive Industries [Abstract]

Schedule of Costs Incurred in Oil and Gas Producing Activities

The Company’s oil and natural gas activities for 2021, 2020 and 2019 were entirely within the United States of America. Costs incurred in oil and natural gas producing activities were as follows (in thousands):

	Years Ended December 31,
	2021		2020		2019
Acquisition cost (1):
Proved	$	465,144	$	—	$	(141)
Unproved	43		—		(125)
Exploration costs:
Abandonment costs	—		—		653
Geological and geophysical	341		298		—
Development costs	134,035		67,550		210,520
Total additions	$	599,563	$	67,848	$	210,907

(1)Acquisition costs incurred during 2019 consisted primarily of purchase price adjustments related to 2018 acquisitions.

Summary of Capitalized Costs, Impairment, and Depreciation, Depletion and Amortization

Capitalized costs, impairment, and depreciation, depletion and amortization relating to the Company’s oil and natural gas properties producing activities, all of which are conducted within the continental United States as of December 31, 2021 and 2020, are summarized below (in thousands):

	December 31,
	2021		2020
Oil and gas properties, successful efforts method:
Proved properties	$	1,726,019	$	1,118,148
Accumulated impairment to proved properties	(100,652)		(100,652)
Proved properties, net of accumulated impairments	1,625,367		1,017,496
Unproved properties	289,341		301,083
Accumulated impairment to Unproved properties	(67,316)		(67,316)
Unproved properties, net of accumulated impairments	222,025		233,767
Land	5,382		5,382
Total oil and gas properties, net of accumulated impairments	1,852,774		1,256,645
Accumulated depreciation, depletion and amortization	(395,625)		(291,213)
Net oil and gas properties	$	1,457,149	$	965,432

Summary of Changes in Quantities of Proved Oil and Natural Gas Reserves

A summary of the Company’s changes in quantities of proved oil, natural gas and NGL reserves for the years ended December 31, 2021, 2020 and 2019 are as follows:      

	Oil (MBbl)	Natural Gas (MMcf)	NGLs (MBbl)	Total (MBoe)
Balance - December 31, 2018	59,034	113,217	20,943	98,847
Extensions and discoveries	3,598	4,476	721	5,065
Sales of minerals in place	(31)	(4)	(1)	(32)
Production	(3,086)	(4,760)	(1,022)	(4,902)
Revision to previous estimates	(6,865)	(4,939)	3,047	(4,642)
Balance - December 31, 2019	52,650	107,990	23,688	94,336
Extensions and discoveries	420	1,258	230	860
Production	(3,180)	(7,282)	(1,237)	(5,630)
Revision to previous estimates	(9,800)	9,249	(2,432)	(10,691)
Balance - December 31, 2020	40,090	111,215	20,249	78,875
Extensions and discoveries	7,016	49,846	6,532	21,856
Sales of minerals in place	(8)	(1)	—	(8)
Purchases of minerals in place	25,114	106,539	17,103	59,973
Production	(4,381)	(14,505)	(2,257)	(9,055)
Revision to previous estimates	(6,756)	31,787	(2,596)	(4,054)
Balance - December 31, 2021	61,075	284,881	39,031	147,587
Proved developed reserves:
December 31, 2018	14,325	26,110	4,969	23,646
December 31, 2019	18,220	35,120	7,447	31,521
December 31, 2020	18,878	55,764	10,125	38,298
December 31, 2021	35,824	190,999	25,917	93,575
Proved undeveloped reserves:
December 31, 2018	44,709	87,107	15,974	75,201
December 31, 2019	34,430	72,870	16,241	62,815
December 31, 2020	21,212	55,450	10,123	40,577
December 31, 2021	25,251	93,882	13,114	54,012

The table below presents the quantities of proved oil, natural gas and NGLs reserves attributable to noncontrolling interests as of December 31, 2021 and 2020:

As of December 31, 2021	Oil (MBbl)	Natural Gas (MMcf)	NGLs (MBbl)	Total (MBoe)
Proved developed	14,011	74,702	10,137	36,598
Proved undeveloped	9,876	36,719	5,129	21,125
Total proved	23,887	111,421	15,266	57,723
As of December 31, 2020	Oil (MBbl)	Natural Gas (MMcf)	NGLs (MBbl)	Total (MBoe)
Proved developed	10,113	29,873	5,424	20,516
Proved undeveloped	11,363	29,704	5,423	21,737
Total proved	21,476	59,577	10,847	42,253
As of December 31, 2019	Oil (MBbl)	Natural Gas (MMcf)	NGLs (MBbl)	Total (MBoe)
Proved developed	9,933	19,146	4,060	17,183
Proved undeveloped	18,769	39,724	8,853	34,243
Total proved	28,702	58,870	12,913	51,426

Schedule of Changes in PUD Reserves

Changes in PUD reserves for the years ended December 31, 2021, 2020 and 2019 were as follows (in MBoe): 

Proved undeveloped reserves at December 31, 2018(1)	75,201
Conversions to developed	(10,254)
Extensions and discoveries	1,230
Revision to previous estimates	(3,362)
Proved undeveloped reserves at December 31, 2019 (2)	62,815
Conversions to developed	(8,200)
Revision to previous estimates	(14,038)
Proved undeveloped reserves at December 31, 2020 (3)	40,577
Conversions to developed	(8,274)
Extensions and discoveries	20,521
Purchases of minerals in place	11,577
Revision to previous estimates	(10,389)
Proved undeveloped reserves at December 31, 2021 (4)	54,012

(1)Includes 41,560 MBoe attributable to noncontrolling interests.

(2)Includes 34,243 MBoe attributable to noncontrolling interests.

(3)Includes 21,737 MBoe attributable to noncontrolling interests.

(4)Includes 21,125 MBoe attributable to noncontrolling interests.

Schedule Of Standardized Measure

The Standardized Measure at December 31, 2021, 2020 and 2019 is as follows (in thousands):

	December 31,
	2021		2020		2019
Future cash inflows	$	6,042,508	$	1,902,073	$	3,250,868
Future production costs	(1,641,130)		(633,248)		(1,027,464)
Future development costs	(470,008)		(285,088)		(628,692)
Future income tax expense	(381,663)		(35,557)		(58,824)
Future net cash flows	3,549,707		948,180		1,535,888
10% annual discount for estimated timing of cash flows	(1,731,335)		(487,327)		(746,311)
Standardized measure of discounted future net cash flows (1)	$	1,818,372	$	460,853	$	789,577

(1)At December 31, 2021, 2020 and 2019, the portion of the standardized measure of discounted future net cash flows attributable to noncontrolling interests was $711.2 million, $246.9 million and $430.4 million, respectively.

Schedule Of Changes In Standardized Measure Of Discontinued Future Net Cash Flows Relating To Proved Oil And Natural Gas Reserves

The following is a summary of the changes in the Standardized Measure for the Company’s proved oil and natural gas reserves during each of the years in the three-year period ended December 31, 2021 (in thousands):

	December 31,
	2021		2020		2019
Beginning of year	$	460,853	$	789,577	$	959,452
Sales of oil and gas produced, net of production costs	(343,914)		(105,555)		(150,708)
Sales of minerals in place	14		14		(458)
Net changes in prices and production costs	1,346,851		(381,769)		(565,240)
Extensions, discoveries, and improved recoveries	216,583		14,644		127,182
Changes in income taxes, net	(185,757)		17,826		12,697
Previously estimated development costs incurred during the period	41,120		66,788		210,520
Net changes in future development costs	(104,223)		258,741		118,348
Purchases of minerals in place	465,187		—		—
Revisions of previous quantity estimates	(151,748)		(273,781)		(35,588)
Accretion of discount	76,121		81,999		107,432
Changes in timing of estimated cash flows and other	(2,715)		(7,631)		5,940
End of year (1)	$	1,818,372	$	460,853	$	789,577

(1)At December 31, 2021, 2020 and 2019, the portion of the standardized measure of discounted future net cash flows attributable to noncontrolling interests was $711.2 million, $246.9 million and $430.4 million, respectively.