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Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Components of Lease Expense

The components of our total lease expense for the two years ended December 31, 2024, the majority of which is included as part of natural gas and oil properties on our consolidated balance sheets, are as follows (in thousands):

 

Year Ended December 31,

 

 

2024

 

 

2023

 

Operating lease cost

$

90,170

 

 

$

70,781

 

Variable lease expense (1)

 

8,942

 

 

 

25,529

 

Short-term lease expense (2)

 

649

 

 

 

708

 

Sublease income

 

(103

)

 

 

 

Total lease expense

$

99,658

 

 

$

97,018

 

 

 

 

 

 

 

Short-term lease costs (3)

$

10,478

 

 

$

14,032

 

 

(1)

Variable lease payments that are not dependent on an index or rate and are not included in the lease liability or ROU assets.

(2)

Short-term lease expense represents expense related to leases with a contract term of one year or less and are not included in our ROU assets or lease liability in our consolidated balance sheets.

(3)

These short-term lease costs are related to leases with a contract term of one year or less, the majority of which are related to drilling rigs which are capitalized as part of natural gas and oil properties on our consolidated balance sheets and may fluctuate based on the number of drilling rigs being utilized.

Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to our operating leases is included in the table below (in thousands):

 

Year Ended December 31,

 

 

2024

 

 

2023

 

Cash paid for amounts included in the measurement of lease liabilities

$

93,137

 

 

$

71,669

 

ROU assets added in exchange for lease obligations

$

180,342

 

 

$

7,421

 

 

Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate for Operating Leases

Our weighted average remaining lease term and weighted average discount rate for our operating leases are as follows:

 

Year Ended December 31,

 

2024

 

2023

Weighted average remaining lease term

3.7 years

 

2.9 years

Weighted average discount rate

6%

 

7%

 

Schedule of Lease Liabilities with Enforceable Contract Terms are Greater Than One year Mature

Our lease liabilities with enforceable contract terms that are greater than one year mature as follows (in thousands):

 

Operating
Leases

 

2025

$

91,776

 

2026

 

7,540

 

2027

 

6,141

 

2028

 

3,241

 

2029

 

3,291

 

Thereafter

 

25,122

 

Total lease payments

 

137,111

 

Less effects of discounting

 

(14,236

)

Total lease liability

$

122,875

 

 

Schedule of Future Minimum Transportation Fees Due As of December 31, 2024, future minimum transportation and gathering fees under our commitments are as follows (in thousands):

 

Transportation
and Gathering
Contracts
(a)

 

2025

$

835,018

 

2026

 

815,463

 

2027

 

794,968

 

2028

 

777,578

 

2029

 

668,391

 

Thereafter

 

2,691,096

 

 

$

6,582,514

 

 

(a)

The amounts in this table represent the gross amounts that we are committed to pay; however, we will record in our financial statements our proportionate share of costs based on our working interest which can vary based on volumes produced.

Future Delivery Commitments As of December 31, 2024, our delivery commitments through 2037 were as follows:

 

Year Ending December 31,

 

Natural Gas
(Mmbtu per day)

 

Ethane and Propane
(bbls per day)

2025

 

338,123

 

50,000

2026

 

243,739

 

50,000

2027

 

108,630

 

46,233

2028

 

100,000

 

45,000

2029

 

100,000

 

33,444

2030

 

 

30,000

2031

 

 

16,575

2032

 

 

10,000

2033-2037

 

 

10,000 (each year)