Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Operating leases

The following table presents the maturities, weighted average remaining lease term, and weighted average discount rate of our operating lease liabilities as of March 31, 2023:

	Amount
	(In thousands)
Ending March 31,
2024	$	3,723
2025	3,342
2026	2,055
2027	954
2028	—
2029 and beyond	—
Total future payments	10,074
Less: Interest	973
Present value of future minimum operating lease payments	9,101
Less: Current portion	3,196
Total long-term operating lease payments	$	5,905
Weighted average remaining lease term (years)	3.0
Weighted average discount rate (1)	6.92		%

1.Our weighted average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease.

Schedule of lease assets and liabilities

	Classification on the unaudited condensed consolidated balance sheets	March 31, 2023		December 31, 2022
		(In thousands)
Assets
Operating lease right of use assets	Right of use assets	$	9,002	$	6,551
Total right of use assets		$	9,002	$	6,551
Liabilities
Current liabilities:
Operating lease liabilities	Current operating lease liabilities	$	3,196	$	1,605
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities	5,905		5,035
Total lease liabilities		$	9,101	$	6,640

Schedule of lease costs

The following table presents the components of total lease costs for operating leases during the periods indicated:

	Three Months Ended March 31,
	2023		2022
	(In thousands)
Components of total lease cost:
Short-term lease cost (1)	$	2,181	$	3,536
Operating lease cost	920		1,308
Total lease cost	$	3,101	$	4,844

1.Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $0.6 million and $0.5 million during the three months ended March 31, 2023 and 2022, respectively.

Supplemental cash flow information related to leases

The following table presents supplemental cash flow information related to our operating leases during the periods indicated:

	Three Months Ended March 31,
	2023		2022
	(In thousands)
Cash payments made on operating leases	$	920	$	1,284
Lease liabilities recognized in exchange for operating lease right of use assets	$	3,273	$	909