Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit) Table

The components of income tax expense (benefit) are as follows:

	Year Ended December 31,
thousands	2020		2019		2018
Current income tax expense (benefit)
Federal income tax expense (benefit)	$	—	$	5,550	$	(79,264)
State income tax expense (benefit)	2,702		313		(850)
Total current income tax expense (benefit)	2,702		5,863		(80,114)
Deferred income tax expense (benefit)
Federal income tax expense (benefit)	—		2,782		133,044
State income tax expense (benefit)	3,296		4,827		6,004
Total deferred income tax expense (benefit)	3,296		7,609		139,048
Total income tax expense (benefit)	$	5,998	$	13,472	$	58,934

Tax Rate Reconciliation Table

The sources of these differences are as follows:

	Year Ended December 31,
thousands except percentages	2020			2019			2018
Income (loss) before income taxes	$	522,850		$	821,172		$	689,588
Statutory tax rate	—		%	—		%	—		%
Tax computed at statutory rate	$	—		$	—		$	—
Adjustments resulting from:
Federal taxes on pre-acquisition income attributable to assets acquired from Anadarko	—			8,332			54,243
State taxes on pre-acquisition income attributable to assets acquired from Anadarko (net of federal benefit)	—			—			1,745
Texas margin tax expense (benefit)	5,998			5,140			2,946
Income tax expense (benefit)	$	5,998		$	13,472		$	58,934
Effective tax rate	1		%	2		%	9		%

Income Tax Temporary Differences Table

The tax effects of temporary differences that give rise to significant portions of deferred tax assets (liabilities) are as follows:

	December 31,
thousands	2020		2019
Depreciable property	$	(22,061)	$	(18,642)
Other intangible assets	(812)		(678)
Other	678		421
Net long-term deferred income tax liabilities	$	(22,195)	$	(18,899)