Employee Benefits Plans and Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Stock Units Activity

The following table summarizes RSU activity:

	Restricted Stock Units			Weighted Average Grant Date Fair Value
Unvested RSUs at December 31, 2019		733,777		$	25.20
Granted		1,284,797		$	10.02
Vested		(273,787	)	$	25.09
Forfeited		(91,799	)	$	19.65
Unvested RSUs at December 31, 2020		1,652,988		$	13.73
Granted		1,102,038		$	13.11
Vested		(669,832	)	$	15.01
Forfeited		(101,995	)	$	12.46
Unvested RSUs at December 31, 2021		1,983,199		$	13.02
Granted		2,297,465		$	13.23
Vested		(967,269	)	$	14.14
Forfeited		(97,891	)	$	14.34
Unvested RSUs at December 31, 2022(1)		3,215,504		$	12.79

As of December 31, 2022, 25,257 of the unvested RSUs were accounted for as liability awards in “Accrued liabilities” on the Consolidated Balance Sheet.

Summary of Performance Share Units Activity

The following table summarizes PSU activity:

	Performance Share Units			Weighted Average Grant Date Fair Value
Unvested PSUs at December 31, 2019		417,831		$	39.31
Granted		441,642		$	13.05
Forfeited		(25,301	)	$	37.67
Unvested PSUs at December 31, 2020		834,172		$	25.46
Granted		586,995		$	18.96
Vested		(391,308	)	$	39.43
Forfeited		(14,400	)	$	18.48
Unvested PSUs at December 31, 2021		1,015,459		$	16.41
Granted(1)		629,666		$	23.73
Vested(2)		(14,474	)	$	13.05
Forfeited		(16,486	)	$	17.48
Cancelled		(975,564	)	$	16.42
Unvested PSUs at December 31, 2022		638,601		$	23.66

(1)There were 314,833 PSUs granted that are eligible to vest based on continued employment and the Company’s annualized absolute total shareholder return (“TSR”) over a three-year performance period. An additional 314,833 PSUs were granted and are eligible to vest based on continued employment and the Company’s return on the wells included in the 2022 drill program over a three-year performance period.

(2)The performance period for the relative TSR awards ended on December 31, 2022. The payout on these awards was 0% based on actual performance over the performance period as certified by the Compensation Committee of the Company’s Board of Directors in early 2023. Since these awards were legally forfeited they will again be available for new awards under the recycling provisions of the 2021 LTIP.

Summary of Assumptions Used to Calculate the Grant Date Fair Value of TSR PSUs Granted

The following table summarizes the assumptions used in the Monte Carlo simulations to calculate the fair value of the relative or absolute TSR PSUs granted and modified at the date indicated:

	2022						2021						2020
	Grant			Grant			Modification			Grant			Grant
	September 20			March 5			May 11			March 8			March 5
Expected term (in years)		2.3			2.8			2.6			2.8			2.8
Expected volatility		74.3	%		82.2	%		80.9	%		78.3	%		48.8	%
Risk-free interest rate		3.9	%		1.6	%		0.3	%		0.3	%		0.6	%
Dividend yield		—	%		—	%		—	%		—	%		—	%
Fair value (in thousands)	$	621		$	8,668		$	9,715		$	11,129		$	5,763

Schedule of Recognized Share Based Compensation Expense, Net

The following table presents the amount of costs expensed and capitalized (in thousands):

	Year Ended December 31,
	2022		2021		2020
Share-based compensation costs	$	28,280	$	20,560	$	16,462
Less: Amounts capitalized to oil and gas properties		12,327		9,568		7,793
Total share-based compensation expense	$	15,953	$	10,992	$	8,669