Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Allocation of Stock-Based Compensation by Functional Category

The following details the allocation of stock-based compensation that is allocated to functional expense categories for each of the years in the three-year period ended December 31, 2023 (in thousands):

	2023		2022		2021
Direct operating expense	$	1,723	$	1,459	$	1,310
Brokered natural gas and marketing expense		2,095		2,439		1,794
Exploration expense		1,250		1,578		1,507
General and administrative expense		35,850		42,023		39,673
Total stock-based compensation	$	40,918	$	47,499	$	44,284

Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions

The following assumptions were used to estimate the fair value of the TSR awards granted during the years ended December 31, 2023, 2022 and 2021:

	Year Ended December 31,
	2023			2022			2021
Risk-free interest rate		3.8	%		1.4	%		0.2	%
Expected annual volatility		61	%		68	%		75	%
Grant date fair value per unit	$	30.37		$	27.90		$	12.58

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 for the year ended December 31, 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		1,629,816		$	25.11		21,170		$	25.41		145,747		$	26.86
Vested		(1,863,153	)	$	17.10		(307,687	)	$	14.01		(1,158,797	)	$	4.80
Forfeited		(29,546	)	$	17.73		—		$	—		—		$	—
Outstanding at December 31, 2023		1,473,805		$	22.82		93,116		$	19.44		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.