Stock-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2023

Allocation of Stock-Based Compensation by Functional Category

The following details the allocation of stock-based compensation to functional expense categories (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Direct operating expense	$	426	$	362	$	841	$	711
Brokered natural gas and marketing expense		460		686		1,121		1,205
Exploration expense		303		318		623		770
General and administrative expense		8,415		10,270		18,015		21,843
Total stock-based compensation expense	$	9,604	$	11,636	$	20,600	$	24,529

Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions

The following assumptions were used to estimate the fair value of these awards granted during first six months 2023 and 2022:

	Six Months Ended June 30,
	2023			2022
Risk-free interest rate		3.8	%		1.4	%
Expected annual volatility		61	%		68	%
Grant date fair value per unit	$	30.37		$	27.90

Restricted Stock and Restricted Stock Units and performance awards Outstanding

The following is a summary of the activity for our restricted stock and performance awards at June 30, 2023:

	Restricted Stock Equity Awards					Restricted Stock Liability Awards					Stock-Based Performance Awards
	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value		Number of Units (a)			Weighted Average Grant Date Fair Value
Outstanding at    December 31, 2022		1,736,688		$	14.44		379,633		$	14.71		1,950,632		$	9.02
Granted		1,608,170			25.01		18,732			24.86		145,747			26.86
Vested		(955,354	)		16.49		(193,483	)		14.20		(1,158,797	)		4.80
Forfeited		(25,090	)		17.64		—			—		—			—
Outstanding at June 30, 2023		2,364,414		$	20.77		204,882		$	16.11		937,582		$	17.01

(a) Amounts granted reflect performance units initially granted. The actual payout will be between zero and 200% depending on achievement of either total stockholder return ranking compared to our peers at the vesting date or on the achievement of internal performance targets.