Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Summary of Information by Business Segment

The following table presents selected segment information for the periods indicated (in thousands):

	Upstream		All Other(1)			Total
Revenues from External Customers:
Year Ended December 31, 2022	$	1,651,980	$	—		$	1,651,980
Year Ended December 31, 2021		1,244,540		—			1,244,540
Year Ended December 31, 2020		575,936		—			575,936
Equity in the Net Income of Investees Accounted for by the Equity Method:
Year Ended December 31, 2022	$	101	$	(1,166	)	$	(1,065	)
Year Ended December 31, 2021		—		—			—
Year Ended December 31, 2020		—		—			—
Adjusted EBITDA:
Year Ended December 31, 2022	$	859,840	$	(12,786	)	$	847,054
Year Ended December 31, 2021	$	615,798	$	(4,782	)		611,016
Year Ended December 31, 2020		435,327		—			435,327
Segment Expenditures:
Year Ended December 31, 2022	$	452,674	$	2,778		$	455,452
Year Ended December 31, 2021		338,822		—			338,822
Year Ended December 31, 2020		405,525		—			405,525

(1)The CCS Segment is included in the “All Other” category. The CCS Segment is an emerging business in the start-up phase of operations and the business that does not currently generate any revenues. The CCS Segment’s business activities are conducted through both wholly owned subsidiaries and equity method investments with industry partners. Equity method investments is a business strategy that enables us to achieve favorable economies of scale relative to the level of investment and business risk assumed.

Schedule of Reconciliation of Reportable Segment Information to the Company's Consolidated Totals

The following tables present reconciliations of reportable segment information to the Company’s consolidated totals (in thousands):

	Year Ended December 31,
	2022			2021			2020
Adjusted EBITDA:
Total for reportable segments	$	859,840		$	615,798		$	435,327
All other		(12,786	)		(4,782	)		—
Unallocated corporate general and administrative expense		(5,280	)		(4,542	)		(5,088	)
Interest expense		(125,498	)		(133,138	)		(99,415	)
Depreciation, depletion and amortization		(414,630	)		(395,994	)		(364,346	)
Accretion expense		(55,995	)		(58,129	)		(49,741	)
Write-down of oil and natural gas properties		—			(18,123	)		(267,916	)
Transaction and other (income) expenses(1)		34,513			(5,886	)		(14,917	)
Decommissioning obligations(2)		(31,558	)		(21,055	)		—
Derivative fair value loss (gain) (3)		(272,191	)		(419,077	)		87,685
Net cash paid on settled derivative instruments (3)		425,559			290,164			(143,905	)
Gain (loss) on extinguishment of debt		(1,569	)		(13,225	)		1,662
Non-cash write-down of other well equipment inventory		—			(5,606	)		(699	)
Non-cash equity-based compensation expense		(15,953	)		(10,992	)		(8,669	)
Income (loss) before income taxes	$	384,452		$	(184,587	)	$	(430,022	)

(1)Other income (expense) includes restructuring expenses, cost saving initiatives and other miscellaneous income and expenses that we do not view as a meaningful indicator of our operating performance. For the year ended December 31, 2022, the amount includes $27.5 million gain as a result of the settlement agreement to resolve previously pending litigation that was filed in October 2017 that is further discussed in Note 12 — Commitments and Contingencies. Additionally, it includes a $15.3 million gain for the year ended December 31, 2022 on partial sale of our investment in Bayou Bend that is further discussed in Note 11 — Related Party Transactions. For the year ended December 31, 2020, the amount includes $1.4 million of legal entity restructuring costs and $1.3 million of severance related cost saving initiatives due to the COVID-19 pandemic.

(2)Estimated decommissioning obligations were a result of working interest partners or counterparties of divestiture transactions that were unable to perform the required abandonment obligations due to bankruptcy or insolvency. See Note 12 — Commitments and Contingencies for additional information on decommissioning obligations.

(3)The adjustments for the derivative fair value (gains) losses and net cash receipts (payments) on settled commodity derivative instruments have the effect of adjusting net loss for changes in the fair value of derivative instruments, which are recognized at the end of each accounting period because we do not designate commodity derivative instruments as accounting hedges. This results in reflecting commodity derivative gains and losses within Adjusted EBITDA on an unrealized basis during the period the derivatives settled.

Reconciliation of Reportable Segment Expenditures

	Year Ended December 31,
	2022			2021			2020
Segment Expenditures:
Total reportable segments	$	452,674		$	338,822		$	405,525
All other		2,778			—			—
Change in capital expenditures included in accounts payable and accrued liabilities		(60,011	)		28,258			16,002
Plugging & abandonment		(69,596	)		(67,988	)		(43,933	)
Decommissioning obligations settled		(1,625	)		—			—
Investment in CCS intangibles and equity method investees		(2,778	)		—			—
Other deferred payments		—			(7,921	)		(11,921	)
Non-cash well equipment inventory transfers		(6	)		1,086			(3,030	)
Other		1,728			1,074			299
Exploration, development and other capital expenditures	$	323,164		$	293,331		$	362,942