Gran Tierra Energy (GTE) 10-Q 2 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-34018
Entity Registrant Name	GRAN TIERRA ENERGY INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0479924
Entity Address, Address Line One	500 Centre Street S.E.
Entity Address, City or Town	Calgary,
Entity Address, State or Province	AB
Entity Address, Country	CA
Entity Address, Postal Zip Code	T2G 1A6
City Area Code	403
Local Phone Number	265-3221
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	GTE
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		368,904,496
Entity Central Index Key	0001273441
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
OIL SALES (Note 6)	$ 144,190	$ 174,569
EXPENSES
Operating	41,369	34,935
Transportation	3,066	2,834
Depletion, depreciation and accretion (Note 3)	51,721	40,963
Inventory impairment	475	0
General and administrative (Note 9)	12,696	12,336
Foreign exchange loss (gain)	1,702	(3,725)
Derivative instruments loss (Note 9)	0	21,439
Gain on re-purchase of Senior Notes (Note 4)	(1,090)	0
Interest expense (Note 4)	11,836	12,128
EXPENSES	121,775	120,910
INTEREST INCOME	768	0
INCOME BEFORE INCOME TAXES	23,183	53,659
INCOME TAX EXPENSE
Current (Note 7)	17,606	20,827
Deferred (Note 7)	15,277	18,713
INCOME TAX EXPENSE	32,883	39,540
NET AND COMPREHENSIVE (LOSS) INCOME	$ (9,700)	$ 14,119
NET (LOSS) INCOME PER SHARE
BASIC (in dollars per share)	$ (0.03)	$ 0.04
DILUTED (in dollars per share)	$ (0.03)	$ 0.04
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (Note 5) (in shares)	344,513,998	367,386,664
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (Note 5) (in shares)	344,513,998	372,375,245

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents (Note 10)	$ 105,684	$ 126,873
Restricted cash and cash equivalents (Note 10)	1,142	1,142
Accounts receivable	13,596	10,706
Inventory	20,075	20,192
Taxes receivable	113	54
Other current assets (Note 9)	11,681	9,620
Total Current Assets	152,291	168,587
Oil and Gas Properties
Proved	1,036,350	1,000,424
Unproved	63,454	74,471
Total Oil and Gas Properties	1,099,804	1,074,895
Other capital assets	25,319	26,007
Total Property, Plant and Equipment (Note 3)	1,125,123	1,100,902
Other Long-Term Assets
Deferred tax assets	11,806	22,990
Taxes receivable	31,273	27,796
Other long-term assets (Note 9)	5,923	15,335
Total Other Long-Term Assets	49,002	66,121
Total Assets	1,326,416	1,335,610
Current Liabilities
Accounts payable and accrued liabilities	187,598	167,579
Taxes payable	65,202	58,978
Equity compensation award liability (Note 5 and 9)	8,011	15,082
Total Current Liabilities	260,811	241,639
Long-Term Liabilities
Long-term debt (Notes 4 and 9)	581,391	589,593
Deferred tax liabilities	5,377	28
Asset retirement obligation	65,159	63,358
Equity compensation award liability (Note 5 and 9)	8,592	16,437
Other long-term liabilities	7,319	6,989
Total Long-Term Liabilities	667,838	676,405
Contingencies (Note 8)
Shareholders' Equity
Common Stock (Note 5) (368,898,619 issued, 333,069,042 and 346,151,157 outstanding shares of Common Stock, par value $0.001 per share, as at March 31, 2023, and December 31, 2022, respectively)	10,272	10,272
Additional paid-in capital	1,291,973	1,291,354
Treasury Stock (Note 5)	(38,035)	(27,317)
Deficit	(866,443)	(856,743)
Total Shareholders’ Equity	397,767	417,566
Total Liabilities and Shareholders’ Equity	$ 1,326,416	$ 1,335,610

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, shares issued (in shares)	368,898,619	368,898,619
Common stock, shares outstanding (in shares)	333,069,042	346,151,157
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Activities
Net (loss) income	$ (9,700)	$ 14,119
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depletion, depreciation and accretion	51,721	40,963
Inventory impairment	475	0
Deferred tax expense	15,277	18,713
Stock-based compensation expense (Note 5)	1,500	4,557
Amortization of debt issuance costs (Note 4)	781	887
Unrealized foreign exchange loss (gain)	514	(4,839)
Gain on re-purchase of Senior Notes (Note 4)	(1,090)	0
Derivative instruments loss	0	21,439
Cash settlements on derivatives instruments	0	(8,596)
Cash settlement of asset retirement obligation	0	(5)
Non-cash lease expenses	1,144	411
Lease payments	(606)	(344)
Net change in assets and liabilities from operating activities (Note 10)	(10,763)	16,520
Net cash provided by operating activities	49,253	103,825
Investing Activities
Additions to property, plant and equipment	(71,062)	(41,483)
Changes in non-cash investing working capital (Note 10)	14,871	(1,803)
Net cash used in investing activities	(56,191)	(43,286)
Financing Activities
Debt issuance costs (Note 4)	(50)	0
Repayment of debt (Note 4)	0	(27,525)
Re-purchase of Senior Notes (Note 4)	(4,225)	0
Re-purchase of shares of Common Stock (Note 5)	(10,718)	0
Proceeds from issuance of Common Stock, net of issuance costs	0	2
Proceeds from exercise of stock options	0	980
Lease payments	(1,105)	(777)
Net cash used in financing activities	(16,098)	(27,320)
Foreign exchange loss on cash, cash equivalents and restricted cash and cash equivalents	2,214	478
Net (decrease) increase in cash, cash equivalents and restricted cash and cash equivalents	(20,822)	33,697
Cash, cash equivalents and restricted cash and cash equivalents, beginning of period (Note 10)	133,358	31,404
Cash, cash equivalents and restricted cash and cash equivalents, end of period (Note 10)	$ 112,536	$ 65,101

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Share Capital	Additional Paid-in Capital	Treasury Stock	Deficit
Balance, beginning of period at Dec. 31, 2021		$ 10,270	$ 1,287,582	$ 0	$ (995,772)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (Note 5)		2
Exercise of stock options			980
Stock-based compensation (Note 5)			600
Purchase of treasury shares (Note 5)				0
Net (loss) income	$ 14,119				14,119
Balance, end of period at Mar. 31, 2022	317,781	10,272	1,289,162	0	(981,653)
Balance, beginning of period at Dec. 31, 2022		10,272	1,291,354	(27,317)	(856,743)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (Note 5)		0
Exercise of stock options			0
Stock-based compensation (Note 5)			619
Purchase of treasury shares (Note 5)				(10,718)
Net (loss) income	(9,700)				(9,700)
Balance, end of period at Mar. 31, 2023	$ 397,767	$ 10,272	$ 1,291,973	$ (38,035)	$ (866,443)

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Gran Tierra Energy Inc. a Delaware corporation (the “Company” or “Gran Tierra”), is a publicly traded company focused on international oil and natural gas exploration and production with assets currently in Colombia and Ecuador.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies These interim unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The information furnished herein reflects all normal recurring adjustments that are, in the opinion of management, necessary for the fair presentation of results for the interim periods. The note disclosure requirements of annual consolidated financial statements provide additional disclosures required for interim unaudited condensed consolidated financial statements. Accordingly, these interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements as at and for the year ended December 31, 2022, included in the Company’s 2022 Annual Report on Form 10-K. The Company’s significant accounting policies are described in Note 2 of the consolidated financial statements, which are included in the Company’s 2022 Annual Report on Form 10-K and are the same policies followed in these interim unaudited condensed consolidated financial statements. The Company has evaluated all subsequent events to the date these interim unaudited condensed consolidated financial statements were issued.

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment (Thousands of U.S. Dollars) As at March 31, 2023 As at December 31, 2022 Oil and natural gas properties Proved $ 4,702,991 $ 4,617,804 Unproved 63,454 74,471 4,766,445 4,692,275 Other (1) 59,180 61,386 4,825,625 4,753,661 Accumulated depletion, depreciation and impairment (3,700,502) (3,652,759) $ 1,125,123 $ 1,100,902 (1) The “other” category includes right-of-use assets for operating and finance leases of $38.3 million, which had a net book value of $24.0 million as at March 31, 2023 (December 31, 2022 - $38.9 million, which had a net book value of $24.6 million). For the three months ended March 31, 2023 and 2022, respectively, the Company had no ceiling test impairment losses. The Company used a 12-month unweighted average of the first-day-of the month Brent price prior to the ending date of the periods March 31, 2023, and 2022 of $95.99 and $77.41 per bbl, respectively, for the purpose of the ceiling test calculations.

Debt and Debt Issuance Costs

Debt and Debt Issuance Costs	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt and Debt Issuance Costs	Debt and Debt Issuance Costs The Company’s debt at March 31, 2023, and December 31, 2022, was as follows: (Thousands of U.S. Dollars) As at March 31, 2023 As at December 31, 2022 Long-Term 6.25% Senior Notes, due February 2025 $ 271,909 $ 279,909 7.75% Senior Notes, due May 2027 300,000 300,000 Unamortized debt issuance costs (11,651) (10,992) 560,258 568,917 Long-term lease obligation (1) 21,133 20,676 Total debt $ 581,391 $ 589,593 (1) The current portion of the lease obligation has been included in accounts payable and accrued liabilities on the Company’s balance sheet and totaled $4.8 million as at March 31, 2023 (December 31, 2022 - $4.8 million). As of March 31, 2023, the Company had a credit facility with a market lender in the global commodities industry. The credit facility has a borrowing base of up to $150 million, with $100 million as an initial commitment available at March 31, 2023, and an option for an additional $50 million upon mutual agreement by the Company and the lender. The credit facility bears interest based on the secured overnight financing rate posted by the Federal Reserve Bank of New York plus a credit margin of 6.00% and a credit-adjusted spread of 0.26%. Undrawn amounts under the credit facility bear interest at 2.10% per annum, based on the amount available. The credit facility is secured by the Company’s Colombian assets and economic rights. It has a final maturity date of August 15, 2024, which may be extended to February 18, 2025, upon the satisfaction of certain conditions. The availability period for the draws under the credit facility expires on August 20, 2023. As of March 31, 2023, and December 31, 2022, the credit facility remained undrawn. Under the terms of the credit facility, the Company is required to maintain compliance with the following financial covenants: i. Global Coverage Ratio of at least 150%, calculated using the net present value of the consolidated future cash flows of the Company up to the final maturity date discounted at 10% over the outstanding amount on the credit facility at each reporting period. The net present value of the consolidated future cash flows of the Company is required to be based on 80% of the prevailing ICE Brent forward strip. ii. Prepayment Life Coverage Ratio of at least 150%, calculated using the estimated aggregate value of commodities to be delivered under the commercial contract from the commencement date to the final maturity date based on 80% of the prevailing ICE Brent forward strip and adjusted for quality and transportation discounts over the outstanding amount on the credit facility including interest and all other costs payable to the lender. i. Liquidity ratio where the Company’s projected sources of cash exceed projected uses of cash by at least 1.15 times in each quarter period included in one year consolidated future cash flows. The future cash flows represent forecasted expected cash flows from operations, less anticipated capital expenditures, and certain other adjustments. The commodity pricing assumption used in this covenant is required to be 90% of the prevailing ICE Brent forward strip for the projected future cash flows. Senior Notes During the three months ended March 31, 2023, the Company re-purchased in the open market $8.0 million of 6.25% Senior Notes for cash consideration of $6.8 million, of which $2.6 million was included in accounts payable on the Company’s balance sheet as of March 31, 2023. The re-purchase resulted in a $1.1 million gain, which included the write-off of deferred financing fees of $0.1 million. The re-purchased 6.25% Senior Notes were not canceled and held by the Company as treasury bonds as of March 31, 2023. Interest Expense The following table presents the total interest expense recognized in the accompanying interim unaudited condensed consolidated statements of operations: Three Months Ended March 31, (Thousands of U.S. Dollars) 2023 2022 Contractual interest and other financing expenses $ 11,055 $ 11,241 Amortization of debt issuance costs 781 887 $ 11,836 $ 12,128

Share Capital

Share Capital	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share Capital	Share Capital Shares of Common Stock Shares issued at December 31, 2022 and March 31, 2023 368,898,619 Shares outstanding at December 31, 2022 346,151,157 Treasury stock (13,082,115) Shares outstanding at March 31, 2023 333,069,042 During the year ended December 31, 2022, the Company implemented a share re-purchase program (the “2022 Program”) through the facilities of the Toronto Stock Exchange (“TSX”) and eligible alternative trading platforms in Canada. Under the 2022 Program, the Company is able to purchase at prevailing market prices up to 36,033,969 shares of Common Stock, representing approximately 10% of the issued and outstanding shares of Common Stock as of August 22, 2022. The 2022 Program will expire on August 31, 2023, or earlier if the 10% share maximum is reached. Re-purchases are subject to the availability of stock, prevailing market conditions, the trading price of the Company’s stock, the Company’s financial performance and other conditions. During the three months ended March 31, 2023, the Company re-purchased 13,082,115 shares at a weighted average price of $0.82 per share (three months ended March 31, 2022 - nil). The re-purchased shares were held by the Company and recorded as treasury stock. As of March 31, 2023, the Company held 35,829,577 treasury stock shares (December 31, 2022 - 22,747,462). Equity Compensation Awards The following table provides information about p erformance stock units (“PSUs”), deferred share units (“DSUs”), and stock option activity for the three months ended March 31, 2023: PSUs DSUs Stock Options Number of Outstanding Share Units Number of Outstanding Share Units Number of Outstanding Stock Options Weighted Average Exercise Price/Stock Option ($) Balance, December 31, 2022 31,528,233 6,561,859 17,302,860 1.15 Granted 14,614,248 220,124 4,010,289 0.86 Exercised (15,234,082) — — — Forfeited (30,448) — (13,799) 1.01 Expired — — (1,267,481) 2.47 Balance, March 31, 2023 30,877,951 6,781,983 20,031,869 1.01 Basic net loss or income per share is calculated by dividing net loss or income attributable to common shareholders by the weighted average number of shares of common stock issued and outstanding during each period. Diluted net loss or income per share is calculated using the treasury stock method for share-based compensation arrangements. The treasury stock method assumes that any proceeds obtained on the exercise of share-based compensation arrangements would be used to purchase common shares at the average market price during the period. The weighted average number of shares is then adjusted by the difference between the number of shares issued from the exercise of share-based compensation arrangements and shares re-purchased from the related proceeds. Anti-dilutive shares represent potentially dilutive securities excluded from the computation of diluted loss or income per share as their impact would be anti-dilutive. Weighted Average Shares Outstanding Three Months Ended March 31, 2023 2022 Weighted average number of common shares outstanding 344,513,998 367,386,664 Shares issuable pursuant to stock options — 12,950,523 Shares assumed to be purchased from proceeds of stock options — (7,961,942) Weighted average number of diluted common shares outstanding 344,513,998 372,375,245

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company’s revenues are generated from oil sales at prices that reflect the blended prices received upon shipment by the purchaser at defined sales points or defined by contract relative to ICE Brent and adjusted for Vasconia, Oriente or Castilla crude differentials, quality and transportation discounts and premiums each month. For the three months ended March 31, 2023, 100% (three months ended March 31, 2022 - 100%) of the Company’s revenue resulted from oil sales. During the three months ended March 31, 2023, quality and transportation discounts were 22% of the average ICE Brent price (three months ended March 31, 2022 - 13%). During the three months ended March 31, 2023, the Company’s production was sold primarily to one major customer in Colombia, representing 97% of the total sales volumes (three months ended March 31, 2022 - two customers, representing 57% and 43% of the total sales volumes).

Taxes

Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Taxes	Taxes The Company's effective tax rate was 142% for the three months ended March 31, 2023, compared to 74% in the comparative period of 2022. Current income tax expense was $17.6 million for the three months ended March 31, 2023, compared to $20.8 million in the corresponding period of 2022, primarily due to a decrease in taxable income. The deferred income tax expense for the three months ended March 31, 2023, was $15.3 million mainly the result of tax depreciation being higher than accounting depreciation and the use of tax losses to offset taxable income in Colombia. The deferred income tax expense in the comparative period of 2022 was $18.7 million as the result of tax depreciation being higher compared to accounting depreciation in Colombia. For the three months ended March 31, 2023, the difference between the effective tax rate of 142% and the 50% Colombian tax rate was primarily due to an increase in non-deductible foreign translation adjustments, the impact of foreign taxes, non-deductible royalty in Colombia and increase in the valuation allowance. These were partially offset by other permanent differences.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Legal Proceedings Gran Tierra has several lawsuits and claims pending. The outcome of the lawsuits and disputes cannot be predicted with certainty; Gran Tierra believes the resolution of these matters would not have a material adverse effect on the Company’s consolidated financial position, results of operations, or cash flows. Gran Tierra records costs as they are incurred or become probable and determinable. Letters of credit and other credit support At March 31, 2023, the Company had provided letters of credit and other credit support totaling $109.6 million (December 31, 2022 - $111.1 million) as security relating to work commitment guarantees in Colombia and Ecuador contained in exploration contracts and other capital or operating requirements.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurement	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurement	Financial Instruments and Fair Value Measurement Financial Instruments Financial instruments are initially recorded at fair value, defined as the price that would be received to sell an asset or paid to market participants to settle liability at the measurement date. For financial instruments carried at fair value, GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy consists of three broad levels: • Level 1 - Inputs representing quoted market prices in active markets for identical assets and liabilities • Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the assets and liabilities, either directly or indirectly • Level 3 - Unobservable inputs for assets and liabilities At March 31, 2023, the Company’s financial instruments recognized on the balance sheet consist of cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, other long-term assets, accounts payable and accrued liabilities, other short-term payables, long-term debt, short-term and long-term equity compensation reward liability and other long-term liabilities. The Company uses appropriate valuation techniques based on the available information to measure the fair values of assets and liabilities. Fair Value Measurement The following table presents the Company’s fair value measurements of its financial instruments as of March 31, 2023, and December 31, 2022: As at March 31, 2023 As at December 31, 2022 (Thousands of U.S. Dollars) Level 1 Assets PEF - current (2) $ 8,874 $ 5,981 PEF - long-term (1) — 9,975 $ 8,874 $ 15,956 Liabilities DSUs liability - long-term (3) $ 5,962 $ 6,496 6.25% Senior Notes 233,645 243,801 7.75% Senior Notes 235,500 241,455 $ 475,107 $ 491,752 Level 2 Assets Restricted cash and cash equivalents - long-term (1) 5,710 5,344 $ 5,710 $ 5,344 Liabilities PSUs liability - current 8,011 15,082 PSUs liability - long-term (3) 2,630 9,941 $ 10,641 $ 25,023 (1) The long-term portion of restricted cash and PEF is included in the other long-term assets on the Company’s balance sheet (2) The current portion of PEF is included in the other current assets on the Company’s balance sheet (3) Long-term DSUs and PSUs liabilities are included in the long-term equity compensation award liability on the Company’s balance sheet The fair values of cash and cash equivalents, current restricted cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate their carrying amounts due to the short-term maturity of these instruments. . Restricted cash - long-term The fair value of long-term restricted cash and cash equivalents approximated their carrying value because interest rates are variable and reflective of market rates. Prepaid Equity Forward (“PEF”) To reduce the Company’s exposure to changes in the trading price of the Company’s common shares on outstanding PSUs and DSUs, the Company entered into a PEF. At the end of the term, the counterparty will pay the Company an amount equivalent to the notional amount of the shares using the price of the Company’s common shares at the valuation date. The Company has the discretion to increase or decrease the notional amount of the PEF or terminate the agreement early. As at March 31, 2023, the Company’s PEF had a notional amount of 10 million shares with a fair value of $8.9 million (As at December 31, 2022 - 16 million shares with a fair value of $16.0 million). During the three months ended March 31, 2023, the Company recorded a $1.7 million loss on the PEF in general and administrative expenses (three months ended March 31, 2022- $7.8 million gain). The fair value of the PEF asset was estimated using the Company’s share price quoted in active markets at the end of each reporting period. DSUs liability The fair value of DSUs liability was estimated using the Company’s share price quoted in active markets at the end of each reporting period. PSUs liability The fair value of the PSUs liability was estimated based on a pricing model using inputs such as Company’s share price and PSUs performance factor. Senior Notes Financial instruments not recorded at fair value at March 31, 2023, were the Senior Notes (Note 4). At March 31, 2023, the carrying amounts of the 6.25% Senior Notes and the 7.75% Senior Notes were $268.5 million and $293.6 million, respectively, which represented the aggregate principal amount less unamortized debt issuance costs, and the fair values were $233.6 million and $235.5 million, respectively. During the three months ended March 31, 2023, the Company did not incur any gains or losses related to derivatives (three months ended March 31, 2022 - $21.4 million loss related to commodity price derivatives).

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents shown as a sum of these amounts in the interim unaudited condensed consolidated statements of cash flows: As at March 31, As at December 31, (Thousands of U.S. Dollars) 2023 2022 2022 2021 Cash and cash equivalents $ 105,684 $ 58,707 $ 126,873 $ 26,109 Restricted cash and cash equivalents - current 1,142 1,142 1,142 392 Restricted cash and cash equivalents - long-term (1) 5,710 5,252 5,343 4,903 $ 112,536 $ 65,101 $ 133,358 $ 31,404 (1) Included in other long-term assets on the Company’s balance sheet Net changes in assets and liabilities from operating activities were as follows: Three Months Ended March 31, (Thousands of U.S. Dollars) 2023 2022 Accounts receivable and other long-term assets $ (3,022) $ (10,150) Derivatives — 3,276 Prepaid Equity Forward 7,806 (10,982) Prepaids & Inventory 740 (159) Accounts payable and accrued and other long-term liabilities (17,252) 12,021 Taxes receivable and payable 965 22,514 Net changes in assets and liabilities from operating activities $ (10,763) $ 16,520 Changes in non-cash investing working capital for the three months ended March 31, 2023, were comprised of an increase in accounts payable and accrued liabilities of $14.9 million (three months ended March 31, 2022, a decrease in accounts payable and accrued liabilities of $1.7 million and an increase in accounts receivable of $0.1 million). The following table provides additional supplemental cash flow disclosures: Three Months Ended March 31, (Thousands of U.S. Dollars) 2023 2022 Cash paid for income taxes $ 8,461 $ 9,703 Cash paid for interest $ 8,781 $ 10,042 Non-cash investing activities: Net liabilities related to property, plant and equipment, end of period $ 69,989 $ 28,339

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	These interim unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The information furnished herein reflects all normal recurring adjustments that are, in the opinion of management, necessary for the fair presentation of results for the interim periods.

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	(Thousands of U.S. Dollars) As at March 31, 2023 As at December 31, 2022 Oil and natural gas properties Proved $ 4,702,991 $ 4,617,804 Unproved 63,454 74,471 4,766,445 4,692,275 Other (1) 59,180 61,386 4,825,625 4,753,661 Accumulated depletion, depreciation and impairment (3,700,502) (3,652,759) $ 1,125,123 $ 1,100,902 (1) The “other” category includes right-of-use assets for operating and finance leases of $38.3 million, which had a net book value of $24.0 million as at March 31, 2023 (December 31, 2022 - $38.9 million, which had a net book value of $24.6 million).

Debt and Debt Issuance Costs (T

Debt and Debt Issuance Costs (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s debt at March 31, 2023, and December 31, 2022, was as follows: (Thousands of U.S. Dollars) As at March 31, 2023 As at December 31, 2022 Long-Term 6.25% Senior Notes, due February 2025 $ 271,909 $ 279,909 7.75% Senior Notes, due May 2027 300,000 300,000 Unamortized debt issuance costs (11,651) (10,992) 560,258 568,917 Long-term lease obligation (1) 21,133 20,676 Total debt $ 581,391 $ 589,593 (1) The current portion of the lease obligation has been included in accounts payable and accrued liabilities on the Company’s balance sheet and totaled $4.8 million as at March 31, 2023 (December 31, 2022 - $4.8 million).
Schedule of Interest Expense Recognized	The following table presents the total interest expense recognized in the accompanying interim unaudited condensed consolidated statements of operations: Three Months Ended March 31, (Thousands of U.S. Dollars) 2023 2022 Contractual interest and other financing expenses $ 11,055 $ 11,241 Amortization of debt issuance costs 781 887 $ 11,836 $ 12,128

Share Capital (Tables)

Share Capital (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Common Stock	Shares of Common Stock Shares issued at December 31, 2022 and March 31, 2023 368,898,619 Shares outstanding at December 31, 2022 346,151,157 Treasury stock (13,082,115) Shares outstanding at March 31, 2023 333,069,042
Schedule of PSU, DSU, RSU and Stock Option Activity	The following table provides information about p erformance stock units (“PSUs”), deferred share units (“DSUs”), and stock option activity for the three months ended March 31, 2023: PSUs DSUs Stock Options Number of Outstanding Share Units Number of Outstanding Share Units Number of Outstanding Stock Options Weighted Average Exercise Price/Stock Option ($) Balance, December 31, 2022 31,528,233 6,561,859 17,302,860 1.15 Granted 14,614,248 220,124 4,010,289 0.86 Exercised (15,234,082) — — — Forfeited (30,448) — (13,799) 1.01 Expired — — (1,267,481) 2.47 Balance, March 31, 2023 30,877,951 6,781,983 20,031,869 1.01
Schedule of Weighted Average Shares Outstanding	Weighted Average Shares Outstanding Three Months Ended March 31, 2023 2022 Weighted average number of common shares outstanding 344,513,998 367,386,664 Shares issuable pursuant to stock options — 12,950,523 Shares assumed to be purchased from proceeds of stock options — (7,961,942) Weighted average number of diluted common shares outstanding 344,513,998 372,375,245

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements	The following table presents the Company’s fair value measurements of its financial instruments as of March 31, 2023, and December 31, 2022: As at March 31, 2023 As at December 31, 2022 (Thousands of U.S. Dollars) Level 1 Assets PEF - current (2) $ 8,874 $ 5,981 PEF - long-term (1) — 9,975 $ 8,874 $ 15,956 Liabilities DSUs liability - long-term (3) $ 5,962 $ 6,496 6.25% Senior Notes 233,645 243,801 7.75% Senior Notes 235,500 241,455 $ 475,107 $ 491,752 Level 2 Assets Restricted cash and cash equivalents - long-term (1) 5,710 5,344 $ 5,710 $ 5,344 Liabilities PSUs liability - current 8,011 15,082 PSUs liability - long-term (3) 2,630 9,941 $ 10,641 $ 25,023 (1) The long-term portion of restricted cash and PEF is included in the other long-term assets on the Company’s balance sheet (2) The current portion of PEF is included in the other current assets on the Company’s balance sheet (3) Long-term DSUs and PSUs liabilities are included in the long-term equity compensation award liability on the Company’s balance sheet

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Reconciliation of Cash, Cash Equivalents and Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents shown as a sum of these amounts in the interim unaudited condensed consolidated statements of cash flows: As at March 31, As at December 31, (Thousands of U.S. Dollars) 2023 2022 2022 2021 Cash and cash equivalents $ 105,684 $ 58,707 $ 126,873 $ 26,109 Restricted cash and cash equivalents - current 1,142 1,142 1,142 392 Restricted cash and cash equivalents - long-term (1) 5,710 5,252 5,343 4,903 $ 112,536 $ 65,101 $ 133,358 $ 31,404 (1) Included in other long-term assets on the Company’s balance sheet
Schedule of Net Changes in Assets and Liabilities	Net changes in assets and liabilities from operating activities were as follows: Three Months Ended March 31, (Thousands of U.S. Dollars) 2023 2022 Accounts receivable and other long-term assets $ (3,022) $ (10,150) Derivatives — 3,276 Prepaid Equity Forward 7,806 (10,982) Prepaids & Inventory 740 (159) Accounts payable and accrued and other long-term liabilities (17,252) 12,021 Taxes receivable and payable 965 22,514 Net changes in assets and liabilities from operating activities $ (10,763) $ 16,520
Schedule of Additional Supplemental Cash Flow Disclosures	The following table provides additional supplemental cash flow disclosures: Three Months Ended March 31, (Thousands of U.S. Dollars) 2023 2022 Cash paid for income taxes $ 8,461 $ 9,703 Cash paid for interest $ 8,781 $ 10,042 Non-cash investing activities: Net liabilities related to property, plant and equipment, end of period $ 69,989 $ 28,339

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) $ / bbl	Mar. 31, 2022 $ / bbl	Dec. 31, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 4,825,625		$ 4,753,661
Accumulated depletion, depreciation and impairment	(3,700,502)		(3,652,759)
Total Property, Plant and Equipment (Note 3)	1,125,123		1,100,902
Right-of-use asset, gross	38,300		38,900
Right-of-use asset, net	$ 24,000		24,600
Crude Oil and NGL
Property, Plant and Equipment [Line Items]
Average brent price per barrel (in USD per barrel) | $ / bbl	95.99	77.41
Oil and natural gas properties
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 4,766,445		4,692,275
Proved
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,702,991		4,617,804
Unproved
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	63,454		74,471
Other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 59,180		$ 61,386

Debt and Debt Issuance Costs -

Debt and Debt Issuance Costs - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Long-Term
Unamortized debt issuance costs	$ (11,651)	$ (10,992)
Long-term debt, total	560,258	568,917
Long-term lease obligation	21,133	20,676
Total debt	581,391	589,593
Current portion of lease obligation	$ 4,800	4,800
Senior notes | 6.25% Senior Notes, due February 2025
Long-Term
Stated interest rate	6.25%
Convertible senior notes and revolving credit facility	$ 271,909	279,909
Senior notes | 7.75% Senior Notes, due May 2027
Long-Term
Stated interest rate	7.75%
Convertible senior notes and revolving credit facility	$ 300,000	$ 300,000

Debt and Debt Issuance Costs _2

Debt and Debt Issuance Costs - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Line of Credit Facility [Line Items]
Re-purchase of senior notes	$ 4,225,000	$ 0
Gain on re-purchase	1,090,000	$ 0
Line of Credit | Revolving credit facility
Line of Credit Facility [Line Items]
Borrowing base	$ 150,000,000
Interest rate	2.10%
Debt instrument, net present value as percent of consolidated future cash flows	80%
Liquidity, ratio	115%
Line of Credit | Revolving credit facility | Plan
Line of Credit Facility [Line Items]
Debt instrument, net present value as percent of consolidated future cash flows	90%
Line of Credit | Revolving credit facility | Minimum
Line of Credit Facility [Line Items]
Global coverage ratio	150%
Discount rate over outstanding balance	0.10
Prepayment life coverage ratio	150%
Line of Credit | Revolving credit facility | Risk- Free Rate by Federal Reserve Bank of New York
Line of Credit Facility [Line Items]
Basis spread on variable rate	6%
Credit adjusted spread	0.26%
Line of Credit | Revolving credit facility | Readily Available
Line of Credit Facility [Line Items]
Borrowing base	$ 100,000,000
Line of Credit | Revolving credit facility | Additional Option
Line of Credit Facility [Line Items]
Borrowing base	50,000,000
Senior notes | 6.25% Senior Notes, due February 2025
Line of Credit Facility [Line Items]
Repurchased face amount	$ 8,000,000
Stated interest rate	6.25%
Re-purchase of senior notes	$ 6,800,000
Gain on re-purchase	1,100,000
Write-off of deferred financing cost	100,000
Senior notes | 6.25% Senior Notes, due February 2025 | Accounts payable
Line of Credit Facility [Line Items]
Re-purchase of senior notes	$ 2,600,000

Debt and Debt Issuance Costs _3

Debt and Debt Issuance Costs - Schedule of Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Disclosure [Abstract]
Contractual interest and other financing expenses	$ 11,055	$ 11,241
Amortization of debt issuance costs	781	887
Total interest expense recognized	$ 11,836	$ 12,128

Share Capital - Schedule of Com

Share Capital - Schedule of Common Stock (Details)	3 Months Ended
	Mar. 31, 2023 shares
Increase (Decrease) in Common Stock
Common stock, shares issued, beginning of period (in shares)	368,898,619
Common stock, shares outstanding, as at beginning of period (in shares)	346,151,157
Common stock, shares outstanding, as at period end (in shares)	333,069,042
Common stock, shares issued, end of period (in shares)	368,898,619
Shares of Common Stock
Increase (Decrease) in Common Stock
Common stock, shares outstanding, as at beginning of period (in shares)	346,151,157
Treasury stock (in shares)	(13,082,115)
Common stock, shares outstanding, as at period end (in shares)	333,069,042

Share Capital - Narrative (Deta

Share Capital - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Aug. 22, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares outstanding (in shares)	333,069,042		346,151,157
Stock-based compensation expense (recovery)	$ 1.5	$ 4.6
Unrecognized compensation cost	$ 19.5		$ 10.5
Weighted average period for recognition	2 years 1 month 6 days
Shares of Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares outstanding (in shares)	333,069,042		346,151,157
Treasury stock (in shares)	35,829,577		22,747,462
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Securities excluded from diluted income (loss) per share calculation (in shares)		5,331,160
PSUs | Vested on December 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments for units vested in period	$ 15.1
PSUs | Vested on December 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments for units vested in period		$ 2.4
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock purchased as percent of shares issued and outstanding	10%			10%
2022 program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period (in shares)	13,082,115
Stock repurchased during period, weighted average price (in dollars per share)	$ 0.82	$ 0
2022 program | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares outstanding (in shares)	36,033,969

Share Capital - Schedule of PSU

Share Capital - Schedule of PSU, DSU, RSU and Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Outstanding Stock Options
Beginning balance (in shares)	17,302,860
Granted (in shares)	4,010,289
Exercised (in shares)	0
Forfeited (in shares)	(13,799)
Expired (in shares)	(1,267,481)
Ending balance (in shares)	20,031,869
Weighted Average Exercise Price/Stock Option ($)
Beginning balance (in dollars per share) | $ / shares	$ 1.15
Granted (in dollars per share) | $ / shares	0.86
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	1.01
Expired (in dollars per share) | $ / shares	2.47
Ending balance (in dollars per share) | $ / shares	$ 1.01
PSUs
Number of Outstanding Share Units
Beginning balance (in shares)	31,528,233
Granted (in shares)	14,614,248
Exercised (in shares)	(15,234,082)
Forfeited (in shares)	(30,448)
Expired (in shares)	0
Ending balance (in shares)	30,877,951
DSUs
Number of Outstanding Share Units
Beginning balance (in shares)	6,561,859
Granted (in shares)	220,124
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	0
Ending balance (in shares)	6,781,983

Share Capital - Weighted Averag

Share Capital - Weighted Average Shares Outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
Weighted average number of common shares outstanding, basic (in shares)	344,513,998	367,386,664
Shares issuable pursuant to stock options (in shares)	0	12,950,523
Shares assumed to be purchased from proceeds of stock options (in shares)	0	(7,961,942)
Weighted average number of diluted common shares outstanding (in shares)	344,513,998	372,375,245

Revenue (Details)

Revenue (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Concentration Risk [Line Items]
Variable adjustment for transportation, location, quality, and other elements, percentage	22%	13%
Accrued sales revenue	$ 3,200,000		$ 0
Product Concentration Risk | Revenue from Contract with Customer
Concentration Risk [Line Items]
Concentration risk, percentage	100%	100%
Product Concentration Risk | Revenue from Contract with Customer | Colombia | Customer 1
Concentration Risk [Line Items]
Concentration risk, percentage	97%	57%
Product Concentration Risk | Revenue from Contract with Customer | Colombia | Customer 2
Concentration Risk [Line Items]
Concentration risk, percentage		43%

Taxes (Details)

Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Contingency [Line Items]
Effective tax rate	142%	74%
Current income tax expense	$ 17,606	$ 20,827
Deferred tax expense	$ 15,277	$ 18,713
Colombia
Income Tax Contingency [Line Items]
Effective tax rate	50%	35%

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Letters of credit and other credit support provided	$ 109.6	$ 111.1

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurement - Schedule of Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Restricted cash and cash equivalents - long-term	$ 5,710	$ 5,343	$ 5,252	$ 4,903
Total Assets	1,326,416	1,335,610
Liability - long-term	667,838	676,405
Liability - current	$ 260,811	241,639
Senior notes | 6.25% Senior Notes, due February 2025
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Stated interest rate	6.25%
Senior notes | 7.75% Senior Notes, due May 2027
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Stated interest rate	7.75%
Recurring | Not Designated as Hedging Instrument | Senior notes | 6.25% Senior Notes, due February 2025
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, fair value disclosure	$ 233,600
Recurring | Not Designated as Hedging Instrument | Senior notes | 7.75% Senior Notes, due May 2027
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, fair value disclosure	235,500
Recurring | Not Designated as Hedging Instrument | Level 1
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
PEF - current	8,874	5,981
PEF - long-term	0	9,975
Total Assets	8,874	15,956
Liabilities	475,107	491,752
Recurring | Not Designated as Hedging Instrument | Level 1 | Senior notes | 6.25% Senior Notes, due February 2025
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, fair value disclosure	233,645	243,801
Recurring | Not Designated as Hedging Instrument | Level 1 | Senior notes | 7.75% Senior Notes, due May 2027
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, fair value disclosure	235,500	241,455
Recurring | Not Designated as Hedging Instrument | Level 1 | DSUs
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liability - long-term	5,962	6,496
Recurring | Not Designated as Hedging Instrument | Level 2
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Restricted cash and cash equivalents - long-term	5,710	5,344
Total Assets	5,710	5,344
Liabilities	10,641	25,023
Recurring | Not Designated as Hedging Instrument | Level 2 | PSUs
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liability - long-term	$ 2,630	$ 9,941

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurement - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
PEF, notional amount (in shares)	10,000,000		16,000,000
Investments, fair value	$ 8,900		$ 16,000
(Loss) gain on prepaid equity forwards	(1,700)	$ 7,800
Derivative instruments loss	$ 0	$ 21,439
Senior notes | 6.25% Senior Notes, due February 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	6.25%
Senior notes | 6.25% Senior Notes, due February 2025 | Recurring | Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	$ 233,600
Senior notes | 7.75% Senior Notes, due May 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	7.75%
Senior notes | 7.75% Senior Notes, due May 2027 | Recurring | Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	$ 235,500
Carrying amount | Senior notes | 6.25% Senior Notes, due February 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	268,500
Carrying amount | Senior notes | 7.75% Senior Notes, due May 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	$ 293,600

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Reconciliation of Cash, Cash Equivalents and Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 105,684	$ 126,873	$ 58,707	$ 26,109
Restricted cash and cash equivalents - current	1,142	1,142	1,142	392
Restricted cash and cash equivalents - long-term	5,710	5,343	5,252	4,903
Cash, cash equivalents and restricted cash and cash equivalents	$ 112,536	$ 133,358	$ 65,101	$ 31,404

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Schedule of Net Changes in Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Accounts receivable and other long-term assets	$ (3,022)	$ (10,150)
Derivatives	0	3,276
Prepaid Equity Forward	7,806	(10,982)
Prepaids & Inventory	740	(159)
Accounts payable and accrued and other long-term liabilities	(17,252)	12,021
Taxes receivable and payable	965	22,514
Net changes in assets and liabilities from operating activities	$ (10,763)	$ 16,520

Supplemental Cash Flow Inform_5

Supplemental Cash Flow Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Increase (decrease) in accounts payable and accrued liabilities	$ 14.9	$ (1.7)
Increase in accounts receivable		$ 0.1

Supplemental Cash Flow Inform_6

Supplemental Cash Flow Information - Schedule of Additional Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes	$ 8,461	$ 9,703
Cash paid for interest	8,781	10,042
Non-cash investing activities:
Net liabilities related to property, plant and equipment, end of period	$ 69,989	$ 28,339