Ranger Oil (ROCC) 10-Q 4 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Document Documentand Entity Information [Abstract]
Security Exchange Name	NASDAQ
Entity Tax Identification Number	23-1184320
Entity File Number	1-13283
Entity Address, Address Line One	16285 PARK TEN PLACE, SUITE 500
Entity Address, City or Town	HOUSTON
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77084
City Area Code	713
Local Phone Number	722-6500
Entity Incorporation, State or Country Code	VA
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.01 Par Value
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Jun. 30, 2021
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Trading Symbol	PVAC
Entity Registrant Name	PENN VIRGINIA CORP
Entity Central Index Key	0000077159
Current Fiscal Year End Date	--12-31
Entity Shell Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding		15,312,273
Entity Emerging Growth Company	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Total revenues	$ 124,699	$ 45,482	$ 213,254	$ 136,861
Operating expenses
Lease operating	9,728	9,094	18,553	19,626
Gathering, processing and transportation	5,173	5,593	9,847	11,037
Production and ad valorem taxes	6,721	2,630	12,234	8,784
General and administrative	6,985	7,986	20,162	15,216
Depreciation, depletion and amortization	28,795	37,135	52,679	77,853
Impairments of oil and gas properties	0	35,509	1,811	35,509
Total operating expenses	57,402	97,947	115,286	168,025
Operating income (loss)	67,297	(52,465)	97,968	(31,164)
Other income (expense)
Interest expense	(5,303)	(8,536)	(10,700)	(16,716)
Gain (Loss) on Extinguishment of Debt	0	0	(1,231)	0
Derivatives	(54,227)	(34,349)	(98,595)	116,770
Other, net	0	(55)	(6)	(63)
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax	7,767	(95,405)	(12,564)	68,827
Net income (loss)	7,596	(94,715)	(12,425)	68,379
Net (income) loss attributable to Noncontrolling interest	(4,551)	0	1,898	0
Net income (loss) attributable to common shareholders	$ 3,045	$ (94,715)	$ (10,527)	$ 68,379
Net income (loss) per share:
Basic (in dollars per share)	$ 0.20	$ (6.24)	$ (0.69)	$ 4.51
Diluted (in dollars per share)	$ 0.20	$ (6.24)	$ (0.69)	$ 4.48
Weighted average shares outstanding – basic (in shares)	15,311	15,167	15,287	15,159
Weighted average shares outstanding – diluted (in shares)	38,372	15,167	15,287	15,268
Current Federal, State and Local, Tax Expense (Benefit)	$ (171)	$ 690	$ 139	$ (448)
Oil and Gas, Exploration and Production [Member]
Revenues
Revenues and other	116,314	41,197	198,227	127,505
Oil and Condensate [Member]
Revenues
Revenues and other	4,388	1,578	7,950	3,471
Natural Gas, Production [Member]
Revenues
Revenues and other	3,087	2,020	5,920	4,710
Product and Service, Other [Member]
Revenues
Revenues and other	$ 910	$ 687	$ 1,157	$ 1,175

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 7,596	$ (94,715)	$ (12,425)	$ 68,379
Other comprehensive loss:
Change in pension and postretirement obligations, net of tax	2	(1)	4	(2)
Total other comprehensive income (loss), net	2	(1)	4	(2)
Comprehensive income (loss)	7,598	(94,716)	(12,421)	68,377
Net (income) loss attributable to Noncontrolling interest	(4,551)	0	1,898	0
Other comprehensive income attributable to Noncontrolling interest	(1)	0	(2)	0
Comprehensive income (loss) attributable to common shareholders	$ 3,046	$ (94,716)	$ (10,525)	$ 68,377

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 49,694	$ 13,020
Accounts receivable, net of allowance for credit losses	79,605	45,849
Derivative Asset, Current	6,025	75,506
Prepaid and other current assets	12,760	19,045
Total current assets	148,084	153,420
Property and equipment, net (full cost method)	833,723	723,549
Derivative Asset, Noncurrent	2,693	25,449
Other assets	5,378	4,908
Total assets	989,878	907,326
Current liabilities
Accounts payable and accrued liabilities	133,151	63,089
Derivative liabilities	64,346	85,106
Long-term Debt, Current Maturities	7,500	0
Total current liabilities	204,997	148,195
Deferred income taxes	458	0
Derivative liabilities	21,425	28,434
Other Liabilities, Noncurrent	8,286	8,362
Long-term debt, net	372,049	509,497
Commitments and contingencies (Note 11)
Equity
Preferred stock of $0.01 par value – 5,000,000 shares authorized; 225,489.98 and none issued at June 30, 2021 and December 31, 2020, respectively	2	0
Common stock of $0.01 par value – 110,000,000 shares authorized; 15,312,273 and 15,200,435 shares issued as of June 30, 2021 and December 31, 2020, respectively	153	152
Paid-in capital	156,086	203,463
Retained earnings (Accumulated deficit)	(1,173)	9,354
Accumulated other comprehensive loss	(129)	(131)
Total equity	154,939	212,838
Noncontrolling interest	227,724	0
Total equity	382,663	212,838
Total liabilities and shareholders’ equity	$ 989,878	$ 907,326

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	110,000,000	110,000,000
Common stock, shares, issued (in shares)	15,312,273	15,200,435
Series A Preferred Stock [Member]
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	225,489.98	0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Cash Flows [Abstract]
Net income (loss)	$ (12,425)	$ 68,379
Cash flows from operating activities
Loss on exchange of debt	1,231	0
Depreciation, depletion and amortization	52,679	77,853
Impairments of oil and gas properties	1,811	35,509
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net (gains) losses	98,595	(116,770)
Cash settlements and premiums received (paid), net	23,803	(58,877)
Deferred income tax expense (benefit)	(249)	1,534
Gain (Loss) on Disposition of Other Assets	4	14
Noncash Interest Expense	1,179	2,537
Share-based compensation	3,208	1,807
Other, net	13	14
Changes in operating assets and liabilities, net	476	(831)
Net Cash Provided by (Used in) Operating Activities	122,711	128,895
Cash flows from investing activities
Capital expenditures	(95,706)	(112,827)
Proceeds from sales of assets, net	153	83
Net cash used in investing activities	(95,553)	(112,744)
Cash flows from financing activities
Proceeds from credit facility borrowings	20,000	46,000
Repayment of credit facility borrowings	(95,500)	(49,000)
Repayments of 2nd Lien Term	55,015	0
Proceeds from Issuance of Common Limited Partners Units	151,160	0
Proceeds from Issuance of Redeemable Preferred Stock	2	0
Transaction costs of noncontrolling interest paid	5,543	0
Issue costs of noncontrolling interest securities paid	(3,758)	0
Debt issuance costs paid	(1,830)	(72)
Proceeds from (Payments for) Other Financing Activities	0	1,068
Net cash provided by (used in) financing activities	9,516	(2,004)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	36,674	14,147
Cash and cash equivalents – beginning of period	13,020	7,798
Cash and cash equivalents – end of period	49,694	21,945
Cash paid for:
Interest, net of amounts capitalized	9,638	14,316
Income Taxes Paid, Net	360	(2,471)
Non-cash investing and financing activities:
Changes in property and equipment related to capital contributions	(38,561)	0
Changes in asset retirement obligation related to capital contributions	14	0
Increase (Decrease) in accrued liabilities related to capital contributions	146	0
Changes in accrued liabilities related to capital expenditures	$ 22,891	$ (20,294)

Statement of Shareholders' Equi

Statement of Shareholders' Equity (Statement) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Preferred Stock	Common Stock [Member]	Common Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Paid-in Capital	Paid-in CapitalCumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings/(Accumulated Deficit)	Retained Earnings/(Accumulated Deficit)Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossCumulative Effect, Period of Adoption, Adjustment [Member]	Noncontrolling Interest
Shareholder's equity, noncontrolling interest	$ 520,745	$ (76)		$ 151	$ 0	$ 200,666	$ 0	$ 319,987	$ (76)	$ (59)	$ 0
Net income (loss)	163,094			0		0		163,094		0
Stockholders' Equity, Other	556			1		556		0		(1)
Net income (loss)	68,379
Shareholder's equity, noncontrolling interest	684,319			152		201,222		483,005		(60)
Net income (loss)	(94,715)			0		0		(94,715)		0
Stockholders' Equity, Other	935			0		936		0		(1)
Shareholder's equity, noncontrolling interest	590,539			152		202,158		388,290		(61)
Shareholder's equity, noncontrolling interest	212,838		$ 0	152		203,463		9,354		(131)		$ 0
Net income (loss)	(20,021)		0	0		0		(13,572)		0		(6,449)
Preferred stock of $0.01 par value – 5,000,000 shares authorized; 225,489.98 and none issued at June 30, 2021 and December 31, 2020, respectively	2		2	0		0		0		0		0
Issuance of Noncontrolling interest	179,552		0	0		(50,068)		0		0		229,620
Stockholders' Equity, Other	1,772		0	1		1,769		0		1		1
Net income (loss)	(12,425)
Shareholder's equity, noncontrolling interest	374,143		2	153		155,164		(4,218)		(130)		223,172
Net income (loss)	7,596		0	0		0		3,045		0		4,551
Stockholders' Equity, Other	924		0	0		922		0		1		1
Shareholder's equity, noncontrolling interest	$ 382,663		$ 2	$ 153		$ 156,086		$ (1,173)		$ (129)		$ 227,724

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Nature of Operations	Nature of OperationsPenn Virginia Corporation (together with its consolidated subsidiaries, unless the context otherwise requires, “Penn Virginia,” the “Company,” “we,” “us” or “our”) is an independent oil and gas company focused on the onshore development and production of oil, natural gas liquids (“NGLs”) and natural gas. Our current operations consist of drilling unconventional horizontal development wells and operating our producing wells in the Eagle Ford Shale (the “Eagle Ford”) in Gonzales, Lavaca, Fayette and DeWitt Counties in South Texas. We operate in and report our financial results and disclosures as one segment, which is the development and production of crude oil, NGLs and natural gas.

Juniper Transaction

Juniper Transaction	6 Months Ended
	Jun. 30, 2021
Juniper Transaction [Abstract]
Juniper Transaction	Juniper Transactions On January 15, 2021 (the “Closing Date”), the Company consummated the previously announced transactions (collectively, the “Juniper Transactions”) contemplated by: (i) the Contribution Agreement, dated November 2, 2020 (the “Contribution Agreement”), by and among the Company, PV Energy Holdings, L.P. (the “Partnership”) and JSTX Holdings, LLC (“JSTX”), an affiliate of Juniper Capital Advisors, L.P. (“Juniper Capital” and, together with JSTX and Rocky Creek, “Juniper”); and (ii) the Contribution Agreement, dated November 2, 2020 (the “Asset Agreement,” and, together with the Contribution Agreement, the “Juniper Transaction Agreements”), by and among Rocky Creek Resources, LLC, an affiliate of Juniper Capital (“Rocky Creek”), the Company and the Partnership. In connection with the consummation of the Juniper Transactions, the Company completed a reorganization into an up-C structure which is intended to, among other things, result in the holders of the Series A Preferred Stock, par value $0.01 per share, of the Company (“Series A Preferred Stock”) having a voting interest in the Company that is commensurate with such holders’ economic interest in the Partnership, including (i) the conversion of each of the Company’s corporate subsidiaries into limited liability companies which are disregarded for U.S. federal income tax purposes, including the conversion of Penn Virginia Holding Corp. into Penn Virginia Holdings, LLC, a Delaware limited liability company (“Holdings”), and (ii) the Company’s contribution of all of its equity interests in Holdings to the Partnership in exchange for 15,268,686 newly issued common units representing limited partner interests (the “Common Units”). On the Closing Date, (i) pursuant to the terms of the Contribution Agreement, JSTX contributed to the Partnership, as a capital contribution, $150 million in cash in exchange for 17,142,857 newly issued Common Units and the Company issued to JSTX 171,428.57 shares of Series A Preferred Stock at a price equal to the par value of the shares acquired, and (ii) pursuant to the terms of the Asset Agreement, including certain closing adjustments based on a September 1, 2020 effective date (the “Effective Date”), Rocky Creek contributed to our operating subsidiary certain oil and gas assets in exchange for 5,405,252 newly issued Common Units and the Company issued to Rocky Creek 54,052.52 shares of Series A Preferred Stock (5,406,141 Common Units and 54,061.41 shares of Series A Preferred Stock after post-closing adjustments) at a price equal to the par value of the shares acquired, including 495,900 Common Units and 4,959 shares of Series A Preferred Stock placed in an indemnity escrow to support post-closing indemnification claims, 50% of such escrowed amount to be disbursed 180 days after the Closing and the remainder one year after the Closing. In connection with the contribution of the oil and gas assets under the Asset Agreement, we received $1.2 million of revenues attributable to production from the Rocky Creek assets for the period from December 1, 2020 through the Closing Date. We incurred a total of $19.0 million of professional fees, including advisory, legal, consulting fees and other costs in connection with the Juniper Transactions. A total of $5.0 million were attributable to services and costs incurred and recognized in 2020 as general and administrative expenses (“G&A”). The remaining $14.0 million of costs were incurred in January 2021 or otherwise incurred contingent upon the closing of the Juniper Transactions, including $5.5 million of transaction costs incurred by Juniper that were required to be paid by the Company under the Juniper Transaction Agreements as well as $3.8 million of costs incurred by us related to the issuance of the Series A Preferred Stock and Common Units. Collectively, these amounts were classified as a reduction to the capital contribution on our condensed consolidated balance sheet. The remainder of $4.7 million, representing professional fees and other costs, was recognized as a component of G&A in the quarter ended March 31, 2021. In determining the appropriate accounting for the Partnership and Juniper’s interest, we considered the guidance in Accounting Standards Codification (“ASC”) 810, Consolidation . The Partnership is considered a variable interest entity for which the Company is the primary beneficiary as it has a controlling financial interest in the Partnership and has the power to direct the activities most significant to the Partnership’s economic performance, as well as the obligation to absorb losses and receive benefits that are potentially significant. As such, the Partnership is reflected as a consolidated subsidiary in the condensed consolidated financial statements. The ownership interest in the Partnership held by Juniper (the “Noncontrolling interest”) is included in the condensed consolidated balance sheet as Noncontrolling interest, which is classified within permanent equity. The Noncontrolling interest is classified in permanent equity as it does not meet the definition of a liability under ASC 480, Distinguishing Liabilities from Equity and, among other considerations, the Common Units are optionally redeemable by the holder for a fixed number of shares (on a one-for-one basis) and there is no fixed or determinable date or fixed or determinable price for redemption; further, while the Common Units may be redeemed with Common Stock or cash, the method of settlement is solely at the discretion of the Company, with the Company having the ability to settle the redemption in shares. Additionally, while the holders of the Series A Preferred Stock, who also own the Common Units, could cause the Noncontrolling interest to be redeemed through an event that is not solely within the control of the Company such as a change-in-control, through their majority voting rights, all holders of equally and more subordinated equity interests in the Company would be entitled to receive the same form of consideration upon such event. The Noncontrolling interest percentage is based on the proportionate amount of the number of Common Units held by Juniper to the total Common Units outstanding which is also equivalent to the voting power in the Company associated with the Series A Preferred Stock held by Juniper. The Noncontrolling interest was initially measured on the Closing Date as the sum of (i) total Shareholders’ equity immediately prior to the closing of the Juniper Transactions, (ii) the fair value of Juniper’s and Rocky Creek’s contributions provided in exchange for Common Units and Series A Preferred Stock (net of the Juniper transaction costs and securities issuance costs paid by the Company and including the cash received directly by the Company for a portion of the Rocky Creek revenues as discussed above and asset retirement obligations (“AROs”) associated with the contributed properties); and (iii) a deferred income tax adjustment attributable to the Juniper Transactions, the total of which was then multiplied by the Noncontrolling interest percentage. The difference between the calculated Noncontrolling interest and the fair value of the consideration received was recorded as a reduction to paid-in capital. The following table reconciles the initial investment by Juniper and the carrying value of their Noncontrolling interest as of the Closing Date (after post-closing adjustments): Cash contribution $ 150,000 Issue costs paid for Noncontrolling interest securities (3,758) Transaction costs paid on behalf of Noncontrolling interest (5,543) Fair value of Rocky Creek oil and gas properties contributed 38,561 Revenues received attributable to contributed properties 1,160 Suspense revenues attributable to the contributed properties (146) Asset retirement obligations of the contributed properties (14) Fair value of capital contributions 180,260 Income tax adjustment attributable to the Juniper Transactions (708) Total shareholders’ equity prior to the Closing Date 205,558 $ 385,110 Juniper voting power through Series A Preferred Stock 59.6 % Noncontrolling interest as of the Closing Date $ 229,620

Accounts Receivable and Revenue

Accounts Receivable and Revenues from Contracts with Customers	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure	Revenue Recognition Revenue from Contracts with Customers Crude oil. We sell our crude oil production to our customers at either the wellhead or a contractually agreed-upon delivery point, including certain regional central delivery point terminals or pipeline inter-connections. We recognize revenue when control transfers to the customer, considering factors associated with custody, title, risk of loss and other contractual provisions as appropriate. Pricing is based on a market index with adjustments for product quality, location differentials and, if applicable, deductions for intermediate transportation. Costs incurred by us for gathering and transporting the products to an agreed-upon delivery point are recognized as a component of Gathering, processing and transportation (“GPT”) in our condensed consolidated statements of operations. NGLs. We have natural gas processing contracts in place with certain midstream processing vendors. We deliver “wet” natural gas to our midstream processing vendors at the inlet of their processing facilities through gathering lines, certain of which we own and others which are owned by gathering service providers. Subsequent to processing, NGLs are delivered or otherwise transported to a third-party customer. Currently, for these contracts, we have determined that we are the agent and the midstream processing vendor is our customer. Accordingly, we recognize these revenues on a net basis with processing costs presented as a reduction of revenue. Natural gas . Subsequent to the processing of “wet” natural gas and the separation of NGL products, the “dry” or residue gas is delivered to us at the tailgate of the midstream processing vendors’ facilities and we market the product to our customers, most of whom are interstate pipelines. We recognize revenue when control transfers to the customer, considering factors associated with custody, title, risk of loss and other contractual provisions as appropriate. Pricing is based on a market index with adjustments for product quality and location differentials, as applicable. Costs incurred by us for gathering and transportation from the wellhead through the processing facilities are recognized as a component of GPT in our condensed consolidated statements of operations. Performance obligations We record revenue in the month that our oil and gas production is delivered to our customers. However, the collection of revenues from oil and gas production may take up to 60 days following the month of production. Therefore, we make accruals for revenues and accounts receivable based on estimates of our share of production. We record any differences, which historically have not been significant, between the actual amounts ultimately received and the original estimates in the period they become finalized. We apply a practical expedient which provides for an exemption from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. Under our commodity product sales contracts, we bill our customers and recognize revenue when our performance obligations have been satisfied. At that time, we have determined that payment is unconditional. Accordingly, our commodity sales contracts do not create contract assets or liabilities. Our accounts receivable consists mainly of trade receivables from commodity sales and joint interest billings due from partners on properties we operate. Our allowance for credit losses is entirely attributable to receivables from joint interest partners. The following table summarizes our accounts receivable by type as of the dates presented: June 30, December 31, 2021 2020 Customers $ 64,660 $ 39,672 Joint interest partners 10,693 3,079 Derivative settlements from counterparties 4,585 3,287 Other 8 8 Total 79,946 46,046 Less: Allowance for credit losses (341) (197) Accounts receivable, net of allowance for credit losses $ 79,605 $ 45,849 Major Customers

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure	Derivative Instruments We utilize derivative instruments, typically swaps, put options and call options which are placed with financial institutions that we believe are acceptable credit risks, to mitigate our financial exposure to commodity price volatility associated with anticipated sales of our future production and volatility in interest rates attributable to our variable rate debt instruments. For our commodity derivatives, we typically combine swaps, purchased put options, purchased call options, sold put options and sold call options in order to achieve various hedging objectives. Certain of these objectives result in combinations that operate as collars which include purchased put options and sold call options, three-way collars, which include purchased put options, sold put options and sold call options, and enhanced swaps, which include either sold put options or sold call options with the associated premiums rolled into an enhanced fixed price swap, among others. Our derivative instruments are not formally designated as hedges for accounting purposes. While the use of derivative instruments limits the risk of adverse commodity price and interest rate movements, such use may also limit the beneficial impact of future product revenues and interest expense from favorable commodity price and interest rate movements. From time to time, we may enter into incremental derivative contracts in order to increase the notional volume of production we are hedging, restructure existing derivative contracts or enter into other derivative contracts resulting in modification to the terms of existing contracts. In accordance with our internal policies, we do not utilize derivative instruments for speculative purposes. Commodity Derivatives The following table sets forth our commodity derivative positions, presented on a net basis by period of maturity, as of June 30, 2021: 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 NYMEX WTI Crude Swaps Average Volume Per Day (bbl) 815 815 Weighted Average Swap Price ($/bbl) $ 45.54 $ 45.54 NYMEX WTI Crude Collars Average Volume Per Day (bbl) 14,130 9,783 5,417 4,533 4,484 4,484 2,917 2,885 Weighted Average Purchased Put Price ($/bbl) $ 44.27 $ 42.00 $ 40.00 $ 40.00 $ 40.00 $ 40.00 $ 40.00 $40.00 Weighted Average Sold Call Price ($/bbl) $ 59.21 $ 54.92 $ 53.49 $ 52.47 $ 52.47 $ 52.47 $ 50.00 $50.00 NYMEX WTI Crude CMA Roll Basis Swaps Average Volume Per Day (bbl) 17,935 17,935 6,667 6,593 Weighted Average Swap Price ($/bbl) $ 0.17 $ 0.17 $ 0.63 $ 0.63 NYMEX HH Collars Average Volume Per Day (MMBtu) 9,783 9,783 13,187 13,043 13,043 11,538 11,413 11,413 Weighted Average Purchased Put Price ($/MMBtu) $ 2.607 $ 2.607 $ 2.500 $ 2.500 $ 2.500 $2.500 $2.500 $2.500 Weighted Average Sold Call Price($/MMBtu) $ 3.117 $ 3.117 $ 3.220 $ 3.220 $ 3.220 $2.682 $2.682 $2.682 NYMEX HH Sold Puts Average Volume Per Day (MMBtu) 6,522 6,522 Weighted Average Sold Put Price ($/MMBtu) $ 2.000 $ 2.000 OPIS Mt Belv Ethane Swaps Average Volume per Day (gal) 35,870 28,022 27,717 27,717 98,901 Weighted Average Fixed Price ($/gal) $ 0.2288 $ 0.2500 $ 0.2500 $ 0.2500 $ 0.2288 Interest Rate Derivatives We have a series of interest rate swap contracts (the “Interest Rate Swaps”) establishing fixed interest rates on a portion of our variable interest rate indebtedness under the credit agreement (the “Credit Facility”) and the Second Lien Credit Agreement, dated as of September 29, 2017 (the “Second Lien Facility”). The notional amount of the Interest Rate Swaps totals $300 million, with us paying a weighted average fixed rate of 1.36% on the notional amount, and the counterparties paying a variable rate equal to LIBOR through May 2022. Financial Statement Impact of Derivatives The impact of our derivative activities on income is included within Derivatives on our condensed consolidated statements of operations. Derivative contracts that have expired at the end of a period, but for which cash had not been received or paid as of the balance sheet date, have been recognized as components of Accounts receivable (see Note 4) and Accounts payable and accrued liabilities (see Note 9) on the condensed consolidated balance sheets. The effects of derivative gains and (losses) and cash settlements are reported as adjustments to reconcile net income (loss) to net cash provided by operating activities. These items are recorded within the Derivative contracts section of our condensed consolidated statements of cash flows under Net (gains) losses and Cash settlements and premiums received (paid), net. The following table summarizes the effects of our derivative activities for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Interest Rate Swap gains (losses) recognized in the condensed consolidated statements of operations $ 4 $ (876) $ 36 $ (7,559) Commodity gains (losses) recognized in the condensed consolidated statements of operations (54,231) (33,473) (98,631) 124,329 $ (54,227) $ (34,349) $ (98,595) $ 116,770 Interest rate cash settlements recognized in the condensed consolidated statements of cash flows $ (956) $ (436) $ (1,878) $ (368) Commodity cash settlements and premiums received (paid) recognized in the condensed consolidated statements of cash flows (15,678) 59,582 (21,925) 59,245 $ (16,634) $ 59,146 $ (23,803) $ 58,877 The following table summarizes the fair values of our derivative instruments, which we elect to present on a gross basis, as well as the locations of these instruments on our condensed consolidated balance sheets as of the dates presented: June 30, 2021 December 31, 2020 Derivative Derivative Derivative Derivative Type Balance Sheet Location Assets Liabilities Assets Liabilities Interest rate contracts Derivative assets/liabilities – current $ — $ 3,386 $ — $ 3,655 Commodity contracts Derivative assets/liabilities – current 6,025 60,960 75,506 81,451 Interest rate contracts Derivative assets/liabilities – non-current — — — 1,645 Commodity contracts Derivative assets/liabilities – non-current 2,693 21,425 25,449 26,789 $ 8,718 $ 85,771 $ 100,955 $ 113,540 As of June 30, 2021, we reported net commodity derivative liabilities of $73.7 million and net Interest Rate Swap liabilities of $3.4 million. The contracts associated with these positions are with seven counterparties for commodity derivatives and four counterparties for Interest Rate Swaps, all of which are investment grade financial institutions and are participants in the Credit Facility. This concentration may impact our overall credit risk in that these counterparties may be similarly affected by changes in economic or other conditions. Non-performance risk is incorporated by utilizing discount rates adjusted for the credit risk of our counterparties if the derivative is in an asset position, and our own credit risk if the derivative is in a liability position. The agreements underlying our derivative instruments include provisions for the netting of settlements with the counterparties for contracts of similar type. We have neither paid to, nor received from, our counterparties any cash collateral in connection with our derivative positions. Furthermore, our derivative contracts are not subject to margin calls or similar accelerations. No significant uncertainties exist related to the collectability of amounts that may be owed to us by these counterparties.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure	Property and Equipment The following table summarizes our property and equipment as of the dates presented: June 30, December 31, 2021 2020 Oil and gas properties: Proved $ 1,701,353 $ 1,545,910 Unproved 58,525 49,935 Total oil and gas properties 1,759,878 1,595,845 Other property and equipment 28,185 27,746 Total properties and equipment 1,788,063 1,623,591 Accumulated depreciation, depletion, amortization and impairments (954,340) (900,042) Total property and equipment, net $ 833,723 $ 723,549 Unproved property costs of $58.5 million and $49.9 million have been excluded from amortization as of June 30, 2021 and December 31, 2020, respectively. An additional $1.2 million of costs, associated with wells in-progress for which we had not previously recognized any proved undeveloped reserves, were excluded from amortization as of December 31, 2020. We transferred $13.5 million and $4.4 million of undeveloped leasehold costs associated with acreage unlikely to be drilled or associated with proved undeveloped reserves, including capitalized interest, from unproved properties to the full cost pool during the six months ended June 30, 2021 and 2020, respectively. We capitalized internal costs of $1.7 million and $1.2 million and interest of $1.6 million and $1.4 million during the six months ended June 30, 2021 and 2020, respectively, in accordance with our accounting policies. Average depreciation, depletion and amortization per barrel of oil equivalent of proved oil and gas properties was $12.82 and $16.66 for the six months ended June 30, 2021 and 2020, respectively. At the end of each quarterly reporting period, the unamortized cost of our oil and gas properties, net of deferred income taxes, is limited to the sum of the estimated after-tax discounted future net revenues from proved properties adjusted for costs excluded from amortization (the “Ceiling Test”). During the three and six months ended June 30, 2021, the Company recorded zero and a $1.8 million impairment of its oil and gas properties, respectively. During the three and six months ended June 30, 2020, the Company recorded an impairment of its oil and gas properties of $35.5 million.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following table summarizes our debt obligations as of the dates presented: June 30, 2021 December 31, 2020 Credit Facility $ 238,900 $ 314,400 Second Lien Facility 144,985 200,000 Totals 383,885 514,400 Less: Unamortized discount 1 (1,012) (1,604) Less: Unamortized deferred issuance costs 1, 2 (3,324) (3,299) Totals, net $ 379,549 $ 509,497 Less: Current portion (7,500) — Long-term debt $ 372,049 $ 509,497 _______________________ 1 Discount and issuance costs of the Second Lien Facility are being amortized over the term of the underlying loan using the effective-interest method. 2 Excludes issuance costs of the Credit Facility, which represent costs attributable to the access to credit over its contractual term, that have been presented as a component of Other assets (see Note 9) and are being amortized over the term of the Credit Facility using the straight-line method. Credit Facility The Credit Facility provides for a $1.0 billion revolving commitment and a $375 million borrowing base, including a $25 million sublimit for the issuance of letters of credit. Availability under the Credit Facility may not exceed the lesser of the aggregate commitments or the borrowing base; however, outstanding borrowings under the Credit Facility are limited to a maximum of $350 million. The borrowing base under the Credit Facility is redetermined semi-annually, generally in the Spring and Fall of each year. Additionally, we and the Credit Facility lenders generally may, upon request, initiate a redetermination at any time during the six-month period between scheduled redeterminations. However, we have the option to forego a redetermination until Fall 2021 assuming we continue to satisfy certain minimum hedging conditions that became effective with the Agreement and Amendment No. 9 to Credit Agreement (the “Ninth Amendment”) in January 2021. The Credit Facility is available to us for general corporate purposes, including working capital. The Credit Facility is scheduled to mature in May 2024. We had $0.4 million in letters of credit outstanding as of June 30, 2021 and December 31, 2020. During the six months ended June 30, 2021, we incurred and capitalized approximately $0.4 million of issue costs associated with the Ninth Amendment. The outstanding borrowings under the Credit Facility bear interest at a rate equal to, at our option, either (a) a customary reference rate plus an applicable margin ranging from 1.50% to 2.50%, determined based on the utilization level under the Credit Facility or (b) a Eurodollar rate, including LIBOR through 2021, plus an applicable margin ranging from 2.50% to 3.50%, determined based on the utilization level under the Credit Facility. Interest on reference rate borrowings is payable quarterly in arrears and is computed on the basis of a year of 365/366 days, and interest on Eurodollar borrowings is payable every one three The Credit Facility is guaranteed by the Partnership and all of its subsidiaries, excluding the borrower subsidiary and the escrow subsidiary (the “Guarantor Subsidiaries”). See Note 14 for additional information related to the escrow subsidiary. The guarantees under the Credit Facility are full and unconditional and joint and several. Substantially all of our consolidated assets are held by the Guarantor Subsidiaries. There are no significant restrictions on the ability of the borrower or any of the Guarantor Subsidiaries to obtain funds through dividends, advances or loans. The obligations under the Credit Facility are secured by a first priority lien on substantially all of our subsidiaries’ assets. The Credit Facility requires us to maintain (1) a minimum current ratio (as defined in the Credit Facility, which considers the unused portion of the total commitment as a current asset), measured as of the last day of each fiscal quarter of 1.00 to 1.00, (2) a maximum leverage ratio (consolidated indebtedness to adjusted earnings before interest, taxes, depreciation, depletion, amortization and exploration expenses, both as defined in the Credit Facility), measured as of the last day of each fiscal quarter of 3.50 to 1.00 and (3) a maximum first lien leverage ratio (consolidated secured indebtedness to adjusted earnings before interest, taxes, depreciation, depletion, amortization and exploration expenses, both as defined in the Credit Facility), measured as of the last day of each fiscal quarter, of 2.50 to 1.00. The Credit Facility also contains customary affirmative and negative covenants, including as to compliance with laws (including environmental laws, ERISA and anti-corruption laws), maintenance of required insurance, delivery of quarterly and annual financial statements, oil and gas engineering reports and budgets, weekly cash balance reports, maintenance and operation of property (including oil and gas properties), restrictions on the incurrence of liens and indebtedness, merger, consolidation or sale of assets, payment of dividends, and transactions with affiliates and other customary covenants. In addition, the Credit Facility contains certain anti-cash hoarding provisions, including the requirement to repay outstanding loans and cash collateralize outstanding letters of credit on a weekly basis in the amount of any cash on the balance sheet (subject to certain exceptions) in excess of $25 million. The Credit Facility contains events of default and remedies. If we do not comply with the financial and other covenants in the Credit Facility, the lenders may, subject to customary cure rights, require immediate payment of all amounts outstanding under the Credit Facility. As of June 30, 2021, we were in compliance with all of the covenants under the Credit Facility. See Note 14 for subsequent events related to Amendment No. 10 to the Credit Agreement. Second Lien Facility We entered into the $200 million Second Lien Facility in September 2017 to fund a significant acquisition as well as related fees and expenses. In January 2021, the amendment dated November 2, 2020 (the “Second Lien Amendment”) became effective at which time we made a $50.0 million prepayment as well as a $1.3 million principal payment to a single participant lender to liquidate their interest in the Second Lien Facility. The Second Lien Amendment provided for (i) the extension of the maturity date of the Second Lien Facility to September 29, 2024, (ii) an increase to the margin applicable to advances under the Second Lien Facility, (iii) the imposition of certain limitations on capital expenditures, acquisitions and investments if the Asset Coverage Ratio (as defined therein) at the end of any fiscal quarter is less than 1.25 to 1.00, (iv) the requirement for maximum and, in certain circumstances as described therein, minimum hedging arrangements, (v) beginning in 2021, a requirement to make quarterly amortization payments equal to $1.875 million and (vi) a provision for the replacement of the LIBOR interest rate upon its expiration. During the first quarter 2021, we incurred and capitalized $1.4 million of issue costs in connection with the Second Lien Amendment and wrote off $1.2 million of previously capitalized issue costs and original issue discount allocable to the aforementioned prepayments as a loss on the extinguishment of debt. The outstanding borrowings under the Second Lien Facility bear interest at a rate equal to, at our option, either (a) a customary reference rate plus an applicable margin of 7.25% or (b) a Eurodollar rate, including LIBOR through 2021, with a floor of 1.00%, plus an applicable margin of 8.25%; provided that the applicable margin will increase to 8.25% and 9.25%, respectively, during any quarter in which the quarterly amortization payment is not made. As of June 30, 2021, the actual interest rate of outstanding borrowings under the Second Lien Facility was 9.25%. Interest on reference rate borrowings is payable quarterly in arrears and is computed on the basis of a year of 365/366 days, and interest on Eurodollar borrowings is payable every one or three months (including in three month intervals if we select a six-month interest period), at our election and is computed on the basis of a 360-day year. We have the right, to the extent permitted under the Credit Facility and an intercreditor agreement between the lenders under the Credit Facility and the lenders under the Second Lien Facility, to prepay loans under the Second Lien Facility at any time, subject to prepayment premiums (in addition to customary breakage costs with respect to Eurodollar loans) during the twelve-month period beginning on January 15th of the years indicated below: Date Prepayment premium 2021 102% 2022 101% Thereafter No premium The Second Lien Facility also provides for the following prepayment premiums in the event of a change-in-control that results in an offer of prepayment that is accepted by the lenders under the Second Lien Facility during the twelve-month period beginning on January 15th of the years indicated below: Date Prepayment premium 2021 102% 2022 101% Thereafter No premium The Second Lien Facility is collateralized by substantially all of the Partnership’s and its subsidiaries’ assets with lien priority subordinated to the liens securing the Credit Facility. The obligations under the Second Lien Facility are guaranteed by the Partnership and the Guarantor Subsidiaries. The Second Lien Facility has no financial covenants, but contains affirmative and negative covenants, including as to compliance with laws (including environmental laws, ERISA and anti-corruption laws), maintenance of required insurance, delivery of quarterly and annual financial statements, oil and gas engineering reports and budgets, maintenance and operation of property (including oil and gas properties), limitations on capital expenditures, investments, the incurrence of liens and indebtedness, merger, consolidation or sale of assets, payment of dividends and transactions with affiliates and other customary covenants.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax provision resulted in an expense of $0.2 million and a benefit of $0.1 million for the three and six months ended June 30, 2021, respectively. The federal portion was fully offset by an adjustment to the valuation allowance against our net deferred tax assets resulting in an effective tax rate of 1.1%, which is fully attributable to the State of Texas. In connection with the Juniper Transactions, we recorded an adjustment of $0.7 million to Paid-in capital (see Note 3) attributable to certain state deferred income tax effects associated with the change in legal entity structure. Our net deferred income tax liability balance of $0.5 million as of June 30, 2021 is also fully attributable to the State of Texas and primarily related to property. We recognized a federal and state income tax benefit of $0.7 million and an expense of $0.4 million the three and six months ended June 30, 2020, respectively. The federal and state tax expense was offset by an adjustment to the valuation allowance against our net deferred tax assets resulting in an effective tax rate of 0.7% which was fully attributable to the State of Texas. The provision also reflected a reclassification of $1.2 million from deferred tax assets to current income taxes receivable for certain refundable alternative minimum tax credit carryforwards that were later received in June 2020. We had no liability for unrecognized tax benefits as of June 30, 2021 and December 31, 2020. There were no interest and penalty charges recognized during the three and six months ended June 30, 2021 and 2020. Tax years from 2015 forward remain open to examination by the major taxing jurisdictions to which the Company is subject; however, net operating losses originating in prior years are subject to examination when utilized.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We apply the authoritative accounting provisions included in GAAP for measuring the fair value of both our financial and nonfinancial assets and liabilities. Fair value is an exit price representing the expected amount we would receive upon the sale of an asset or that we would expect to pay to transfer a liability in an orderly transaction with market participants at the measurement date. Our financial instruments, including cash and cash equivalents, accounts receivable, and accounts payable approximate fair value due to their short-term maturities. As of June 30, 2021 and December 31, 2020, the carrying values of the borrowings outstanding under our credit facilities approximate fair value as the borrowings bear interest at variables rates tied to current market rates and the applicable margins represent market rates. Recurring Fair Value Measurements The fair values of our derivative instruments are measured at fair value on a recurring basis on our condensed consolidated balance sheets. The following tables summarize the valuation of those assets and (liabilities) as of the dates presented: As of June 30, 2021 Fair Value Fair Value Measurement Classification Description Measurement Level 1 Level 2 Level 3 Assets: Commodity derivative assets – current $ 6,025 $ — $ 6,025 $ — Commodity derivative assets – non-current $ 2,693 $ — $ 2,693 $ — Liabilities: Interest rate swap liabilities – current $ (3,386) $ — $ (3,386) $ — Interest rate swap liabilities – non-current $ — $ — $ — $ — Commodity derivative liabilities – current $ (60,960) $ — $ (60,960) $ — Commodity derivative liabilities – non-current $ (21,425) $ — $ (21,425) $ — As of December 31, 2020 Fair Value Fair Value Measurement Classification Description Measurement Level 1 Level 2 Level 3 Assets: Commodity derivative assets – current $ 75,506 $ — $ 75,506 $ — Commodity derivative assets – non-current $ 25,449 $ — $ 25,449 $ — Liabilities: Interest rate swap liabilities – current $ (3,655) $ — $ (3,655) $ — Interest rate swap liabilities – non-current $ (1,645) $ — $ (1,645) $ — Commodity derivative liabilities – current $ (81,451) $ — $ (81,451) $ — Commodity derivative liabilities – non-current $ (26,789) $ — $ (26,789) $ — We used the following methods and assumptions to estimate fair values for the financial assets and liabilities described below: • Commodity derivatives : We determine the fair values of our commodity derivative instruments using industry-standard models that consider various assumptions including current market and contractual prices for the underlying instruments, implied volatilities, time value and non-performance risk. For the current market prices, we use third-party quoted forward prices, as applicable, for NYMEX WTI, MEH crude oil, NYMEX HH natural gas and OPIS Mt Belv Ethane natural gas liquids closing prices as of the end of the reporting periods. Each of these is a Level 2 input. • Interest rate swaps : We determine the fair values of our interest rate swaps using an income approach valuation technique which discounts future cash flows back to a single present value. We estimate the fair value of the swaps based on published interest rate yield curves as of the date of the estimate. Each of these is a Level 2 input. Non-performance risk is incorporated by utilizing discount rates adjusted for the credit risk of our counterparties if the derivative is in an asset position, and our own credit risk if the derivative is in a liability position. See Note 5 for additional details on our derivative instruments. Non-Recurring Fair Value Measurements In addition to the fair value measurements applied with respect to assets contributed in the Juniper Transactions, the most significant non-recurring fair value measurements utilized in the preparation of our condensed consolidated financial statements are those attributable to the initial determination of AROs associated with the ongoing development of new oil and gas properties and certain share-based compensation awards. The determination of the fair value of AROs is based upon regional market and facility specific information. The amount of an ARO and the costs capitalized represent the estimated future cost to satisfy the abandonment obligation using current prices that are escalated by an assumed inflation factor after discounting the future cost back to the date that the abandonment obligation was incurred using a rate commensurate with the risk, which approximates our cost of funds. Because these significant fair value inputs are typically not observable, we have categorized the initial estimates as Level 3 inputs.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Drilling and Completion Commitments As of June 30, 2021, we had contractual commitments on a pad-to-pad basis for two drilling rigs. Additionally, we have an agreement, effective January 2, 2021, which can be terminated with 30 days’ notice by either party, to utilize certain frac services and related materials, with no minimum commitment, through December 31, 2021. In March 2021, we made a prepayment of $12 million under the frac services agreement in advance of completion projects for the second quarter of 2021 for which a balance of $0.3 million was remaining as of June 30, 2021. Gathering and Intermediate Transportation Commitments We have long-term agreements with Nuevo G&T and Nuevo Dos Marketing, LLC (“Nuevo Marketing” and together with Nuevo G&T, collectively “Nuevo”) to provide gathering and intermediate pipeline transportation services for a substantial portion of our crude oil and condensate production in as well as volume capacity support for certain downstream interstate pipeline transportation. Nuevo is obligated to gather and transport our crude oil and condensate from within a dedicated area in the Eagle Ford via a gathering system and intermediate takeaway pipeline connecting to a downstream interstate pipeline operated by a third party through 2041. We have a minimum volume commitment (“MVC”) of 8,000 gross barrels of oil per day to Nuevo through 2031 under the gathering agreement. We are obligated to deliver the first 20,000 gross barrels of oil per day produced from Gonzales, Lavaca, Fayette and DeWitt Counties, Texas. Under a marketing agreement, we have a commitment to sell 8,000 barrels per day of crude oil (gross) to Nuevo, or to any third party, utilizing Nuevo Marketing’s capacity on a downstream interstate pipeline through 2026. Under each of the agreements with Nuevo, credits for deliveries of volumes in excess of the volume commitment may be applied to any deficiency arising in the succeeding 12-month period. Excluding the application of existing credits that we have earned during the preceding 12-month period ended June 30, 2021 for deliveries of volumes in excess of the volume commitment, and the potential impact of the effects of price escalation from commodity price changes, if any, the minimum fee requirements attributable to the MVC under the gathering, transportation and marketing agreements are as follows: $7.0 million for the remainder of 2021, approximately $13.9 million per year for 2022 through 2025, $7.8 million for 2026, $3.8 million per year for 2027 through 2030 and $0.6 million for 2031. Crude Oil Storage As a component of the crude oil gathering agreement referenced above, we have access to up to approximately 180,000 barrels of dedicated tank capacity for no additional charge at the service provider’s central delivery point facility (“CDP”), in Lavaca County, Texas through February 2041. We have also contracted for access to up to an additional 70,000 barrels of tank capacity at the CDP on a month-to-month basis which can be terminated by either party with 45-days’ notice to the counterparty. We have also contracted for crude oil storage capacity for up to 90,000 barrels with a downstream interstate pipeline at a facility in DeWitt County, Texas, on a month-to-month basis which can be terminated by either party with 45-days’ notice to the counterparty. Finally, we have an agreement with a marketing affiliate of the aforementioned downstream interstate pipeline to utilize up to 62,000 barrels of capacity within their system on a firm basis and an additional 120,000 barrels, if available, on a flexible basis. Costs associated with these agreements are in the form of monthly fixed rate short-term leases and are charged as incurred on a monthly basis to GPT in our condensed consolidated statements of operations. Legal, Environmental Compliance and Other Claims We are involved, from time to time, in various legal proceedings arising in the ordinary course of business. While the ultimate results of these proceedings cannot be predicted with certainty, our management believes that these claims will not have a material effect on our financial position, results of operations or cash flows. We had AROs of approximately $5.8 million and $5.5 million attributable to the plugging of abandoned wells as of June 30, 2021 and December 31, 2020, respectively. As of June 30, 2021 and December 31, 2020, we had an estimated reserve of approximately $0.1 million for certain claims made against us regarding previously divested operations included in Accounts payable and accrued liabilities on our condensed consolidated balance sheets.

Share-Based Compensation and Ot

Share-Based Compensation and Other Benefit Plans	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement	Share-Based Compensation and Other Benefit Plans Share-Based Compensation We reserved a total of 4,424,600 shares of common stock for issuance under the Penn Virginia Corporation Management Incentive Plan (the “Plan”) for share-based compensation awards. A total of 760,220 RSUs and 484,197 PRSUs have been granted to employees and directors through June 30, 2021. As of June 30, 2021, a total of 273,962 RSUs and 351,518 PRSUs are unvested and outstanding. We recognized $3.2 million, including approximately $1.9 million as a result of the change-in-control event associated with the Juniper Transactions, and $1.0 million of expense attributable to the RSUs and PRSUs for the six months ended June 30, 2021 and 2020, respectively. The table below presents the number of RSUs granted, the average grant-date fair value and the number of shares vested for the following periods: Six Months Ended June 30, 2021 2020 RSUs granted 118,223 223,882 Average grant-date fair value $13.84 $2.78 Issued upon vesting, net to shares withheld for income taxes 105,038 36,174 Compensation expense for RSUs is being charged to expense on a straight-line basis over a range of less than one The table below presents the number of PRSUs granted and the number of shares vested for the following periods: Six Months Ended June 30, 2021 2020 PRSUs granted 1 282,706 87,899 Average grant-date fair value 2 $13.63 — Issued upon vesting, net to shares withheld for income taxes 6,800 3,895 ___________________ 1 The 2021 PRSU grants include two executive officers’ inducement awards that were originally granted in August 2020 and January 2021 that were amended in April 2021 to conform vesting conditions to the other PRSU awards granted in 2021. 2 Represents the average grant-date fair value of 2021 PRSU grants based on the Company’s ROCE performance (as defined below) and excludes the average grant-date fair value of PRSU grants based on the Company’s TSR performance (as defined below), which are provided in the table below. Compensation expense for PRSUs with a market condition is being charged to expense, on a straight-line basis for the 2021 grants and graded-vesting for the 2020 and 2019 grants, over a range of less than one The 2021 PRSU grants are based 50% on the Company’s return on average capital employed (“ROCE”) relative to a defined peer group and 50% based on absolute total shareholder return and total shareholder return (“TSR”) relative to a defined peer group. The 2021 PRSUs cliff vest from zero to 200 percent of the original grant at the end of a three-year performance period based on satisfaction of the respective underlying conditions. Vesting of PRSUs granted in 2020 and 2019 range from zero to 200 percent of the original grant based on the performance of our common stock (TSR-based) relative to a defined peer group. Due to the market condition for the 2019, 2020 and a portion of the 2021 PRSU grants, the grant-date fair value is derived by using a Monte Carlo model. The ranges for the assumptions used in the Monte Carlo model for these PRSUs granted during 2021, 2020 and 2019 are presented as follows: 2021 2020 2019 Monte Carlo grant date fair value $17.74 to $33.31 $2.40 to $16.02 $34.02 Expected volatility 131.74% to 134.74% 101.32% to 117.71% 49.9 % Dividend yield 0.0 % 0.0 % 0.0 % Risk-free interest rate 0.22% to 0.29% 0.18% to 0.51% 1.66 % Performance period 2021-2023 2020-2022 2020-2022 PRSUs with a market condition do not allow for the reversal of previously recognized expense, even if the market condition is not achieved and no shares ultimately vest. We recognize share-based compensation expense as a component of G&A expenses in our condensed consolidated statements of operations. Other Benefit Plans We maintain the Penn Virginia Corporation and Affiliated Companies Employees 401(k) Plan (the “401(k) Plan”), a defined contribution plan, which covers substantially all of our employees. We recognized $0.1 million and $0.3 million of expense attributable to the 401(k) Plan for the three and six months ended June 30, 2021, respectively. We recognized $0.2 million and $0.4 million of expense attributable to the 401(k) Plan for the three and six months ended June 30, 2020, respectively. The charges for the 401(k) Plan are recorded as a component of G&A expenses in our condensed consolidated statements of operations. We maintain unqualified legacy defined benefit pension and defined benefit postretirement plans that cover a limited number of former employees, all of whom retired prior to January 1, 2000. The combined expense recognized with respect to these plans was less than $0.1 million for each of the three and six months ended June 30, 2021 and 2020. The charges for these plans are recorded as a component of Other income (expense) in our condensed consolidated statements of operations.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic net earnings (loss) per share is calculated by dividing the net income (loss) available to common shareholders, excluding net income or loss attributable to Noncontrolling interest, as applicable to the six months ended June 30, 2021 (see Note 3), by the weighted average common shares outstanding for the period. In computing diluted earnings (loss) per share, basic net earnings (loss) per share is adjusted based on the assumption that dilutive RSUs and PRSUs have vested and outstanding Common Units and shares of Series A Preferred Stock held by Juniper as a Noncontrolling interest in the Partnership are exchanged for common shares, as applicable to the six months ended June 30, 2021 (see Note 3). Accordingly, our reported net income (loss) attributable to common shareholders is adjusted to reflect the reallocation of the net income (loss) attributable to the Noncontrolling interest assuming exchange of the Common Units and Series A Preferred Stock held by Noncontrolling interest. The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings (loss) per share for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income (loss) $ 7,596 $ (94,715) $ (12,425) $ 68,379 Net income (loss) attributable to Noncontrolling interest (4,551) — 1,898 — Net income (loss) attributable to common shareholders (basic) 3,045 (94,715) (10,527) 68,379 Reallocation of Noncontrolling interest net income (loss) 4,551 — (1,898) — Net income (loss) attributable to common shareholders (diluted) $ 7,596 $ (94,715) $ (12,425) $ 68,379 Weighted-average shares – basic 15,311 15,167 15,287 15,159 Effect of dilutive securities: Common Units and Series A Preferred Stock that are exchangeable for common shares 22,549 — — — RSUs and PRSUs 512 — — 109 Weighted-average shares – diluted 1 38,372 15,167 15,287 15,268 ___________________ 1 For the six months ended June 30, 2021, approximately 22.8 million potentially dilutive securities represented by approximately 22.5 million Common Units and less than 0.2 million shares of Series A Preferred Stock as well as 0.3 million of RSUs and PRSUs, respectively, had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per share. For the three months ended June 30, 2020, approximately 0.1 million potentially dilutive securities, represented by RSUs and PRSUs, had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per share.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Announced Acquisition of Lonestar Resources On July 10, 2021, we entered into a definitive merger agreement (the “Merger Agreement”) with Lonestar Resources US Inc. (“Lonestar”) under which Penn Virginia will acquire Lonestar in an all-stock transaction (the “Merger”). Under the terms of the merger agreement, Lonestar shareholders will receive 0.51 shares of Penn Virginia for each Lonestar share. The transaction is expected to close in the second half of 2021, subject to the satisfaction of customary closing conditions, including obtaining the requisite shareholder and regulatory approvals. The transaction has been unanimously approved by the Boards of Directors of both companies. In addition, following the execution of the merger agreement, Lonestar shareholders holding approximately 80% of the voting power of Lonestar and Penn Virginia shareholders holding approximately 60% of the voting power of Penn Virginia signed binding support agreements obligating them to vote in favor of the transaction. Upon completion of the transaction, Penn Virginia shareholders will own approximately 87% of the combined company, and Lonestar shareholders will own approximately 13% of the combined company. Following the transaction completion, Lonestar will have the right to nominate one independent director to the Penn Virginia Board of Directors. Offering of Senior Unsecured Notes On July 27, 2021, our indirect, wholly owned subsidiary Penn Virginia Escrow LLC (the “Escrow Issuer”) priced an offering of $400 million aggregate principal amount of senior unsecured notes due 2026 (the “Notes”). The closing date is anticipated to be on or about August 10, 2021 and the Notes will bear interest at 9.25%. The Notes were initially sold at 99.018% of par. The gross proceeds of the offering and other funds will initially be deposited in an escrow account pending satisfaction of certain conditions, including the expected consummation of the Merger on or prior to November 26, 2021. Upon satisfaction of the escrow release conditions, Penn Virginia Holdings, LLC (“Holdings”) will assume the obligations under the Notes, the Escrow Issuer will be merged with and into Holdings (with Holdings as the surviving entity), the Notes will be guaranteed by the subsidiaries of Holdings that guarantee its reserve-based revolving Credit Facility, and the escrowed proceeds relating to the offering of the Notes will be released. Upon the release of the funds from escrow, we intend to use the proceeds from the Notes to repay and discharge the long-term debt of Lonestar and to use the remainder, along with cash on hand, to repay our Second Lien Facility loan in full and pay related expenses. If escrow release conditions are not satisfied on or before November 26, 2021, or at any time prior to such date the Merger has been terminated or we have decided that we will not pursue the consummation of the Merger (or determined that the consummation of the Merger is not reasonably likely to be satisfied by such date), then the escrowed funds will be applied to the mandatory redemption of the Notes at a price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Notes were offered and sold in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act. The Notes were not registered under the Securities Act or any state securities laws and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act and applicable state securities laws.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2021
Schedule of Policies [Line Items]
Basis of Presentation	Basis of PresentationOur unaudited condensed consolidated financial statements include the accounts of Penn Virginia and all of our subsidiaries. Intercompany balances and transactions have been eliminated. A substantial noncontrolling interest in our subsidiaries is provided for in our condensed consolidated statements of operations and comprehensive income (loss) as well as our condensed consolidated balance sheets as of and for the period ended June 30, 2021 (see Note 3 for additional detail including the basis of presentation of the noncontrolling interest). Our condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Preparation of these statements involves the use of estimates and judgments where appropriate. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation of our condensed consolidated financial statements, have been included. Our condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2020. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the full year. Certain reclassifications have been made to prior period amounts to conform to the current period presentation. Such reclassifications did not have a material impact on prior period financial statements.
Fair Value, Measurements, Nonrecurring
Schedule of Policies [Line Items]
Fair Value Measurements	Non-Recurring Fair Value Measurements In addition to the fair value measurements applied with respect to assets contributed in the Juniper Transactions, the most significant non-recurring fair value measurements utilized in the preparation of our condensed consolidated financial statements are those attributable to the initial determination of AROs associated with the ongoing development of new oil and gas properties and certain share-based compensation awards. The determination of the fair value of AROs is based upon regional market and facility specific information. The amount of an ARO and the costs capitalized represent the estimated future cost to satisfy the abandonment obligation using current prices that are escalated by an assumed inflation factor after discounting the future cost back to the date that the abandonment obligation was incurred using a rate commensurate with the risk, which approximates our cost of funds. Because these significant fair value inputs are typically not observable, we have categorized the initial estimates as Level 3 inputs.

Juniper Transaction (Tables)

Juniper Transaction (Tables)	6 Months Ended
	Jun. 30, 2021
Juniper Transaction [Abstract]
Reconciliation of Initial Investment and CV of NCI	The following table reconciles the initial investment by Juniper and the carrying value of their Noncontrolling interest as of the Closing Date (after post-closing adjustments): Cash contribution $ 150,000 Issue costs paid for Noncontrolling interest securities (3,758) Transaction costs paid on behalf of Noncontrolling interest (5,543) Fair value of Rocky Creek oil and gas properties contributed 38,561 Revenues received attributable to contributed properties 1,160 Suspense revenues attributable to the contributed properties (146) Asset retirement obligations of the contributed properties (14) Fair value of capital contributions 180,260 Income tax adjustment attributable to the Juniper Transactions (708) Total shareholders’ equity prior to the Closing Date 205,558 $ 385,110 Juniper voting power through Series A Preferred Stock 59.6 % Noncontrolling interest as of the Closing Date $ 229,620

Accounts Receivable and Reven_2

Accounts Receivable and Revenues from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Summary of Accounts Receivable	The following table summarizes our accounts receivable by type as of the dates presented: June 30, December 31, 2021 2020 Customers $ 64,660 $ 39,672 Joint interest partners 10,693 3,079 Derivative settlements from counterparties 4,585 3,287 Other 8 8 Total 79,946 46,046 Less: Allowance for credit losses (341) (197) Accounts receivable, net of allowance for credit losses $ 79,605 $ 45,849
Financing Receivable, Allowance for Credit Loss	Major CustomersFor the six months ended June 30, 2021, three customers accounted for $98.5 million, or approximately 46%, of our consolidated product revenues. The revenues generated from these customers during the six months ended June 30, 2021, were $34.7 million, $33.4 million and $30.4 million, or 16%, 16% and 14% of the consolidated total, respectively. For the six months ended June 30, 2020, four customers accounted for $99.2 million, or approximately 73%, of our consolidated product revenues. As of June 30, 2021 and December 31, 2020, $43.8 million and $24.1 million, or approximately 68% and 61%, respectively, of our consolidated accounts receivable from customers was related to the three customers referenced above. No significant uncertainties exist related to the collectability of amounts owed to us by any of these customers.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Commodity Derivative Positions	The following table sets forth our commodity derivative positions, presented on a net basis by period of maturity, as of June 30, 2021: 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 NYMEX WTI Crude Swaps Average Volume Per Day (bbl) 815 815 Weighted Average Swap Price ($/bbl) $ 45.54 $ 45.54 NYMEX WTI Crude Collars Average Volume Per Day (bbl) 14,130 9,783 5,417 4,533 4,484 4,484 2,917 2,885 Weighted Average Purchased Put Price ($/bbl) $ 44.27 $ 42.00 $ 40.00 $ 40.00 $ 40.00 $ 40.00 $ 40.00 $40.00 Weighted Average Sold Call Price ($/bbl) $ 59.21 $ 54.92 $ 53.49 $ 52.47 $ 52.47 $ 52.47 $ 50.00 $50.00 NYMEX WTI Crude CMA Roll Basis Swaps Average Volume Per Day (bbl) 17,935 17,935 6,667 6,593 Weighted Average Swap Price ($/bbl) $ 0.17 $ 0.17 $ 0.63 $ 0.63 NYMEX HH Collars Average Volume Per Day (MMBtu) 9,783 9,783 13,187 13,043 13,043 11,538 11,413 11,413 Weighted Average Purchased Put Price ($/MMBtu) $ 2.607 $ 2.607 $ 2.500 $ 2.500 $ 2.500 $2.500 $2.500 $2.500 Weighted Average Sold Call Price($/MMBtu) $ 3.117 $ 3.117 $ 3.220 $ 3.220 $ 3.220 $2.682 $2.682 $2.682 NYMEX HH Sold Puts Average Volume Per Day (MMBtu) 6,522 6,522 Weighted Average Sold Put Price ($/MMBtu) $ 2.000 $ 2.000 OPIS Mt Belv Ethane Swaps Average Volume per Day (gal) 35,870 28,022 27,717 27,717 98,901 Weighted Average Fixed Price ($/gal) $ 0.2288 $ 0.2500 $ 0.2500 $ 0.2500 $ 0.2288
Impact of Derivative Activities on Condensed Consolidated Statements of Income	The impact of our derivative activities on income is included within Derivatives on our condensed consolidated statements of operations. Derivative contracts that have expired at the end of a period, but for which cash had not been received or paid as of the balance sheet date, have been recognized as components of Accounts receivable (see Note 4) and Accounts payable and accrued liabilities (see Note 9) on the condensed consolidated balance sheets. The effects of derivative gains and (losses) and cash settlements are reported as adjustments to reconcile net income (loss) to net cash provided by operating activities. These items are recorded within the Derivative contracts section of our condensed consolidated statements of cash flows under Net (gains) losses and Cash settlements and premiums received (paid), net. The following table summarizes the effects of our derivative activities for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Interest Rate Swap gains (losses) recognized in the condensed consolidated statements of operations $ 4 $ (876) $ 36 $ (7,559) Commodity gains (losses) recognized in the condensed consolidated statements of operations (54,231) (33,473) (98,631) 124,329 $ (54,227) $ (34,349) $ (98,595) $ 116,770 Interest rate cash settlements recognized in the condensed consolidated statements of cash flows $ (956) $ (436) $ (1,878) $ (368) Commodity cash settlements and premiums received (paid) recognized in the condensed consolidated statements of cash flows (15,678) 59,582 (21,925) 59,245 $ (16,634) $ 59,146 $ (23,803) $ 58,877
Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets	The following table summarizes the fair values of our derivative instruments, which we elect to present on a gross basis, as well as the locations of these instruments on our condensed consolidated balance sheets as of the dates presented: June 30, 2021 December 31, 2020 Derivative Derivative Derivative Derivative Type Balance Sheet Location Assets Liabilities Assets Liabilities Interest rate contracts Derivative assets/liabilities – current $ — $ 3,386 $ — $ 3,655 Commodity contracts Derivative assets/liabilities – current 6,025 60,960 75,506 81,451 Interest rate contracts Derivative assets/liabilities – non-current — — — 1,645 Commodity contracts Derivative assets/liabilities – non-current 2,693 21,425 25,449 26,789 $ 8,718 $ 85,771 $ 100,955 $ 113,540

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	The following table summarizes our property and equipment as of the dates presented: June 30, December 31, 2021 2020 Oil and gas properties: Proved $ 1,701,353 $ 1,545,910 Unproved 58,525 49,935 Total oil and gas properties 1,759,878 1,595,845 Other property and equipment 28,185 27,746 Total properties and equipment 1,788,063 1,623,591 Accumulated depreciation, depletion, amortization and impairments (954,340) (900,042) Total property and equipment, net $ 833,723 $ 723,549

Long-Term Debt Long-Term Debt (

Long-Term Debt Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes our debt obligations as of the dates presented: June 30, 2021 December 31, 2020 Credit Facility $ 238,900 $ 314,400 Second Lien Facility 144,985 200,000 Totals 383,885 514,400 Less: Unamortized discount 1 (1,012) (1,604) Less: Unamortized deferred issuance costs 1, 2 (3,324) (3,299) Totals, net $ 379,549 $ 509,497 Less: Current portion (7,500) — Long-term debt $ 372,049 $ 509,497 _______________________ 1 Discount and issuance costs of the Second Lien Facility are being amortized over the term of the underlying loan using the effective-interest method. 2 Excludes issuance costs of the Credit Facility, which represent costs attributable to the access to credit over its contractual term, that have been presented as a component of Other assets (see Note 9) and are being amortized over the term of the Credit Facility using the straight-line method.
Prepayment Premiums	We have the right, to the extent permitted under the Credit Facility and an intercreditor agreement between the lenders under the Credit Facility and the lenders under the Second Lien Facility, to prepay loans under the Second Lien Facility at any time, subject to prepayment premiums (in addition to customary breakage costs with respect to Eurodollar loans) during the twelve-month period beginning on January 15th of the years indicated below: Date Prepayment premium 2021 102% 2022 101% Thereafter No premium The Second Lien Facility also provides for the following prepayment premiums in the event of a change-in-control that results in an offer of prepayment that is accepted by the lenders under the Second Lien Facility during the twelve-month period beginning on January 15th of the years indicated below: Date Prepayment premium 2021 102% 2022 101% Thereafter No premium

Supplemental Balance Sheet Deta

Supplemental Balance Sheet Detail (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components of Selected Balance Sheet Accounts	The following table summarizes components of selected balance sheet accounts as of the dates presented: June 30, December 31, 2021 2020 Prepaid and other current assets: Inventories 1 $ 7,023 $ 4,274 Prepaid expenses 2 5,737 14,771 $ 12,760 $ 19,045 Other assets: Deferred issuance costs of the Credit Facility, net of amortization $ 2,336 $ 2,349 Right-of-use assets – operating leases 2,096 2,432 Other 946 127 $ 5,378 $ 4,908 Accounts payable and accrued liabilities: Trade accounts payable $ 30,701 $ 7,055 Drilling and other lease operating costs 31,892 16,088 Royalties 46,123 26,615 Production, ad valorem and other taxes 6,994 3,094 Derivative settlements to counterparties 11,943 321 Compensation 3,270 4,222 Interest 386 504 Current operating lease obligations 959 936 Other 3 883 4,254 $ 133,151 $ 63,089 Other non-current liabilities: Asset retirement obligations $ 5,809 $ 5,461 Non-current operating lease obligations 1,363 1,752 Postretirement benefit plan obligations 1,114 1,149 $ 8,286 $ 8,362

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables summarize the valuation of those assets and (liabilities) as of the dates presented: As of June 30, 2021 Fair Value Fair Value Measurement Classification Description Measurement Level 1 Level 2 Level 3 Assets: Commodity derivative assets – current $ 6,025 $ — $ 6,025 $ — Commodity derivative assets – non-current $ 2,693 $ — $ 2,693 $ — Liabilities: Interest rate swap liabilities – current $ (3,386) $ — $ (3,386) $ — Interest rate swap liabilities – non-current $ — $ — $ — $ — Commodity derivative liabilities – current $ (60,960) $ — $ (60,960) $ — Commodity derivative liabilities – non-current $ (21,425) $ — $ (21,425) $ — As of December 31, 2020 Fair Value Fair Value Measurement Classification Description Measurement Level 1 Level 2 Level 3 Assets: Commodity derivative assets – current $ 75,506 $ — $ 75,506 $ — Commodity derivative assets – non-current $ 25,449 $ — $ 25,449 $ — Liabilities: Interest rate swap liabilities – current $ (3,655) $ — $ (3,655) $ — Interest rate swap liabilities – non-current $ (1,645) $ — $ (1,645) $ — Commodity derivative liabilities – current $ (81,451) $ — $ (81,451) $ — Commodity derivative liabilities – non-current $ (26,789) $ — $ (26,789) $ —

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	The table below presents the number of RSUs granted, the average grant-date fair value and the number of shares vested for the following periods: Six Months Ended June 30, 2021 2020 RSUs granted 118,223 223,882 Average grant-date fair value $13.84 $2.78 Issued upon vesting, net to shares withheld for income taxes 105,038 36,174
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Performance Shares, Activity	The table below presents the number of PRSUs granted and the number of shares vested for the following periods: Six Months Ended June 30, 2021 2020 PRSUs granted 1 282,706 87,899 Average grant-date fair value 2 $13.63 — Issued upon vesting, net to shares withheld for income taxes 6,800 3,895
Schedule of Valuation Assumptions	The ranges for the assumptions used in the Monte Carlo model for these PRSUs granted during 2021, 2020 and 2019 are presented as follows: 2021 2020 2019 Monte Carlo grant date fair value $17.74 to $33.31 $2.40 to $16.02 $34.02 Expected volatility 131.74% to 134.74% 101.32% to 117.71% 49.9 % Dividend yield 0.0 % 0.0 % 0.0 % Risk-free interest rate 0.22% to 0.29% 0.18% to 0.51% 1.66 % Performance period 2021-2023 2020-2022 2020-2022

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Components of Calculation of Basic and Diluted Earnings Per Share	The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings (loss) per share for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income (loss) $ 7,596 $ (94,715) $ (12,425) $ 68,379 Net income (loss) attributable to Noncontrolling interest (4,551) — 1,898 — Net income (loss) attributable to common shareholders (basic) 3,045 (94,715) (10,527) 68,379 Reallocation of Noncontrolling interest net income (loss) 4,551 — (1,898) — Net income (loss) attributable to common shareholders (diluted) $ 7,596 $ (94,715) $ (12,425) $ 68,379 Weighted-average shares – basic 15,311 15,167 15,287 15,159 Effect of dilutive securities: Common Units and Series A Preferred Stock that are exchangeable for common shares 22,549 — — — RSUs and PRSUs 512 — — 109 Weighted-average shares – diluted 1 38,372 15,167 15,287 15,268 ___________________ 1 For the six months ended June 30, 2021, approximately 22.8 million potentially dilutive securities represented by approximately 22.5 million Common Units and less than 0.2 million shares of Series A Preferred Stock as well as 0.3 million of RSUs and PRSUs, respectively, had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per share. For the three months ended June 30, 2020, approximately 0.1 million potentially dilutive securities, represented by RSUs and PRSUs, had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per share.

Juniper Transaction (Details)

Juniper Transaction (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 15, 2021	Jan. 31, 2021	Jan. 15, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Apr. 01, 2021	Jan. 14, 2021	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Preferred stock, par value (in USD per share)	$ 0.01		$ 0.01
Common Unit, Issued	15,268,686		15,268,686
Proceeds from Contributed Capital	$ 150,000
Contribution Agreement - Common Units	17,142,857		17,142,857
Contribution Agreement - Preferred Shares	171,428.57		171,428.57
Asset Agreement - Common Units	5,405,252		5,405,252							5,406,141
Asset Agreement - Preferred Shares	54,052.52		54,052.52							54,061.41
Common Units Placed in Indemnity Escrow	495,900		495,900
Preferred Shares Placed in Indemnity Escrow	4,959		4,959
Cash Received Related to Revenues Attributable to Production from RCR	$ 1,160		$ 1,200
Suspense revenues attributable to RCR							$ (146)
Issue costs of noncontrolling interest securities paid	(3,758)						(3,758)	$ 0
Transaction costs of noncontrolling interest paid	(5,543)						(5,543)	0
Oil and Gas Property Contributed	38,561
Asset Retirement Obligations of Contributed Property	(14)
Capital contributions Fair Value	180,260
Shareholder's equity, noncontrolling interest	385,110		385,110	$ 382,663	$ 374,143	$ 590,539	382,663	590,539	$ 212,838		$ 205,558	$ 684,319	$ 520,745
Percentage of ownership after transaction					59.60%
Noncontrolling interest	229,620		$ 229,620	227,724			227,724		0
Net (income) loss attributable to Noncontrolling interest				4,551		0	(1,898)	0
Other comprehensive income attributable to Noncontrolling interest				$ 1		$ 0	$ 2	$ 0
Juniper Transaction
Business Acquisition [Line Items]
Professional Fees And Other Costs					$ 19,000
Income Tax Adjustment	$ (708)
Juniper Transaction | Costs And Services Incurred In Current Period
Business Acquisition [Line Items]
Professional Fees And Other Costs		$ 14,000
Juniper Transaction | Contingent Transaction Costs To Be Paid Upon Closing
Business Acquisition [Line Items]
Professional Fees And Other Costs					5,500
Juniper Transaction | Costs Related to Issuance of Preferred Shares and Common Units
Business Acquisition [Line Items]
Professional Fees And Other Costs					3,800
Juniper Transaction | Costs And Services - G&A
Business Acquisition [Line Items]
Professional Fees And Other Costs					$ 4,700				$ 5,000

Accounts Receivable and Reven_3

Accounts Receivable and Revenues from Contracts with Customers - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Customers	$ 64,660	$ 39,672
Joint interest partners	10,693	3,079
Derivative settlements receivable from counterparties	4,585	3,287
Other	8	8
Accounts Receivable, Gross, Current, Total	79,946	46,046
Less: Allowance for credit losses	(341)	(197)
Accounts receivable, net of allowance for doubtful accounts	$ 79,605	$ 45,849

Accounts Receivable and Reven_4

Accounts Receivable and Revenues from Contracts with Customers - Additional Information (Details) - Accounts Receivable $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)Customer	Jun. 30, 2020USD ($)Customer	Dec. 31, 2020USD ($)
Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, major customers	$ 43,800		$ 24,100
Credit Concentration Risk | Name of Major Customer [Domain]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	68.00%		61.00%
Customer Concentration Risk [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of major customers | Customer	3	4
Major Customer Revenues	$ 98,500	$ 99,200
Customer Concentration Risk [Member] | Name of Major Customer [Domain]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	46.00%	73.00%
Customer Concentration Risk [Member] | Major Customer 1
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	16.00%
Major Customer Revenues	$ 34,700
Customer Concentration Risk [Member] | Major Customer 2
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	16.00%
Major Customer Revenues	$ 33,400
Customer Concentration Risk [Member] | Major Customer 3
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	14.00%
Major Customer Revenues	$ 30,400

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)Customer	Dec. 31, 2020USD ($)
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative assets	$ 85,771	$ 113,540
Derivative Asset	8,718	$ 100,955
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative assets	$ 3,400
Number of derivative counterparties | Customer	4
Derivative, Notional Amount	$ 300,000
Derivative, Average Fixed Interest Rate	136.00%
Commodity contracts
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative assets	$ 73,700
Number of derivative counterparties | Customer	7
Commodity contracts | Crude Oil
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Third-party quoted forward prices	NYMEX WTI
Commodity contracts | MEH [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Third-party quoted forward prices	MEH
Commodity contracts | Natural Gas [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Third-party quoted forward prices	NYMEX HH
Commodity contracts | Natural Gas Liquids
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Third-party quoted forward prices	OPIS Mt Belv Ethane

Derivative Instruments - Commod

Derivative Instruments - Commodity Derivative Positions (Detail)	Jun. 30, 2021bbl$ / bbl
Crude Oil | Swap | Third Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Swap Type, Average Fixed Price	45.54
Derivative, Nonmonetary Notional Amount | bbl	815
Crude Oil | Swap | Fourth Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Swap Type, Average Fixed Price	45.54
Derivative, Nonmonetary Notional Amount | bbl	815
Crude Oil | 2-Way Collars [Domain] | Third Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	44.27
Derivative, Average Cap Price	59.21
Derivative, Nonmonetary Notional Amount | bbl	14,130
Crude Oil | 2-Way Collars [Domain] | Fourth Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	42
Derivative, Average Cap Price	54.92
Derivative, Nonmonetary Notional Amount | bbl	9,783
Crude Oil | 2-Way Collars [Domain] | First Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	40
Derivative, Average Cap Price	53.49
Derivative, Nonmonetary Notional Amount | bbl	5,417
Crude Oil | 2-Way Collars [Domain] | Second Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	40
Derivative, Average Cap Price	52.47
Derivative, Nonmonetary Notional Amount | bbl	4,533
Crude Oil | 2-Way Collars [Domain] | Third Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	40
Derivative, Average Cap Price	52.47
Derivative, Nonmonetary Notional Amount | bbl	4,484
Crude Oil | 2-Way Collars [Domain] | Fourth Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	40
Derivative, Average Cap Price	52.47
Derivative, Nonmonetary Notional Amount | bbl	4,484
Crude Oil | 2-Way Collars [Domain] | First Quarter 2023
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	40
Derivative, Average Cap Price	50
Derivative, Nonmonetary Notional Amount | bbl	2,917
Crude Oil | 2-Way Collars [Domain] | Second Quarter 2023
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	40
Derivative, Average Cap Price	50
Derivative, Nonmonetary Notional Amount | bbl	2,885
Crude Oil | CMA Roll Basis Swap [Domain] | Third Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, CMA Roll Basis Swap, Price	0.17
Derivative, Nonmonetary Notional Amount | bbl	17,935
Crude Oil | CMA Roll Basis Swap [Domain] | Fourth Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, CMA Roll Basis Swap, Price	0.17
Derivative, Nonmonetary Notional Amount | bbl	17,935
Crude Oil | CMA Roll Basis Swap [Domain] | First Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, CMA Roll Basis Swap, Price	0.63
Derivative, Nonmonetary Notional Amount | bbl	6,667
Crude Oil | CMA Roll Basis Swap [Domain] | Second Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, CMA Roll Basis Swap, Price	0.63
Derivative, Nonmonetary Notional Amount | bbl	6,593
Natural Gas [Member] | 2-Way Collars [Domain] | Third Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	2.607
Derivative, Average Cap Price	3.117
Derivative, Nonmonetary Notional Amount | bbl	9,783
Natural Gas [Member] | 2-Way Collars [Domain] | Fourth Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	2.607
Derivative, Average Cap Price	3.117
Derivative, Nonmonetary Notional Amount | bbl	9,783
Natural Gas [Member] | 2-Way Collars [Domain] | Second Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	2.500
Derivative, Average Cap Price	3.220
Derivative, Nonmonetary Notional Amount | bbl	13,187
Natural Gas [Member] | 2-Way Collars [Domain] | Third Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	2.500
Derivative, Average Cap Price	3.220
Derivative, Nonmonetary Notional Amount | bbl	13,043
Natural Gas [Member] | 2-Way Collars [Domain] | Fourth Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	2.500
Derivative, Average Cap Price	3.220
Derivative, Nonmonetary Notional Amount | bbl	13,043
Natural Gas [Member] | 2-Way Collars [Domain] | Second Quarter 2023
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	2.500
Derivative, Average Cap Price	2.682
Derivative, Nonmonetary Notional Amount | bbl	11,538
Natural Gas [Member] | 2-Way Collars [Domain] | Third Quarter 2023
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	2.500
Derivative, Average Cap Price	2.682
Derivative, Nonmonetary Notional Amount | bbl	11,413
Natural Gas [Member] | 2-Way Collars [Domain] | Fourth Quarter 2023
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Average Floor Price	2.500
Derivative, Average Cap Price	2.682
Derivative, Nonmonetary Notional Amount | bbl	11,413
Natural Gas [Member] | Sold Put | Third Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Swap Type, Average Fixed Price	2
Derivative, Nonmonetary Notional Amount | bbl	6,522
Natural Gas [Member] | Sold Put | Fourth Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Swap Type, Average Fixed Price	2
Derivative, Nonmonetary Notional Amount | bbl	6,522
Natural Gas Liquids | Swap | Third Quarter 2021 [Domain]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Swap Type, Average Fixed Price	0.2288
Derivative, Nonmonetary Notional Amount | bbl	35,870
Natural Gas Liquids | Swap | Second Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Swap Type, Average Fixed Price	0.2500
Derivative, Nonmonetary Notional Amount | bbl	28,022
Natural Gas Liquids | Swap | Third Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Swap Type, Average Fixed Price	0.2500
Derivative, Nonmonetary Notional Amount | bbl	27,717
Natural Gas Liquids | Swap | Fourth Quarter 2022
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Swap Type, Average Fixed Price	0.2500
Derivative, Nonmonetary Notional Amount | bbl	27,717
Natural Gas Liquids | Swap | Second Quarter 2023
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative, Swap Type, Average Fixed Price	0.2288
Derivative, Nonmonetary Notional Amount | bbl	98,901

Derivative Instruments - Impact

Derivative Instruments - Impact of Derivative Activities on Condensed Consolidated Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives	$ (54,227)	$ (34,349)	$ (98,595)	$ 116,770
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments	4	(876)	36	(7,559)
Gain (Loss) on Commodity Derivative Instruments	(54,231)	(33,473)	(98,631)	124,329
Cash Settlements Interest Rate Swap Operating Activities	(956)	(436)	(1,878)	(368)
Cash Settlements Commodity Operating Activities	(15,678)	59,582	(21,925)	59,245
Cash settlements and premiums received (paid), net	$ (16,634)	$ 59,146	$ (23,803)	$ 58,877

Fair Value of Derivative Instru

Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Derivative Asset, Current	$ 6,025	$ 75,506
Derivative liabilities	64,346	85,106
Derivative Asset, Noncurrent	2,693	25,449
Derivative Liability, Noncurrent	21,425	28,434
Derivative Liability	85,771	113,540
Derivative Asset	8,718	100,955
Commodity contracts
Derivatives, Fair Value [Line Items]
Derivative Liability	73,700
Commodity contracts | Current Derivative Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Current	6,025	75,506
Derivative liabilities	60,960	81,451
Commodity contracts | Noncurrent Derivative Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Noncurrent	2,693	25,449
Derivative Liability, Noncurrent	21,425	26,789
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative Liability	3,400
Interest Rate Swap | Current Derivative Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Current	0	0
Derivative liabilities	3,386	3,655
Interest Rate Swap | Noncurrent Derivative Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Noncurrent	0	0
Derivative Liability, Noncurrent	0	1,645
Fair Value, Measurements, Recurring | Commodity contracts
Derivatives, Fair Value [Line Items]
Derivative Asset, Current	6,025	75,506
Derivative liabilities	60,960	(81,451)
Derivative Asset, Noncurrent	2,693	25,449
Derivative Liability, Noncurrent	21,425	$ 26,789
Fair Value, Measurements, Recurring | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative liabilities	3,386
Derivative Liability, Noncurrent	$ 0

Summary of Property and Equipme

Summary of Property and Equipment (Detail) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021USD ($)$ / bbl	Mar. 31, 2021USD ($)	Jun. 30, 2020USD ($)$ / bbl	Jun. 30, 2021USD ($)$ / bbl	Jun. 30, 2020USD ($)$ / bbl	Dec. 31, 2020USD ($)
Property, Plant and Equipment [Abstract]
Proved Oil and Gas Property, Full Cost Method	$ 1,701,353			$ 1,701,353		$ 1,545,910
Unproved Oil and Gas Property, Full Cost Method	58,525			58,525		49,935
Oil and Gas Property, Full Cost Method, Gross	1,759,878			1,759,878		1,595,845
Total properties and equipment	1,788,063			1,788,063		1,623,591
Other property and equipment	28,185			28,185		27,746
Accumulated depreciation, depletion, amortization and impairments	(954,340)			(954,340)		(900,042)
Property and equipment, net (successful efforts method)	833,723			833,723		723,549
Unproved Oil and Gas Property excluded	58,500			58,500		$ 49,900
Capitalized Costs of Unproved Properties Excluded from Amortization, Period Cost		$ 1,200
Undeveloped Leasehold Costs Transferred				13,500	$ 4,400
Capitalized Costs, Proved Properties	$ 1,700		$ 1,200	1,700	1,200
Interest Costs Capitalized				$ 1,600	$ 1,400
Amortization Expense Per Physical Unit of Production | $ / bbl	12.82		16.66	12.82	16.66
Impairments of oil and gas properties	$ 0		$ 35,509	$ 1,811	$ 35,509

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Sep. 29, 2017
Debt Instrument [Line Items]
Revolving credit facility	$ 238,900	$ 314,400
Second Lien Facility	144,985	200,000	$ 200,000
Long-term Debt, Gross	383,885	514,400
Debt Instrument, Unamortized Discount	(1,012)	(1,604)
Unamortized Debt Issuance Expense	(3,324)	(3,299)
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	379,549	509,497
Long-term Debt, Current Maturities	(7,500)	0
Long-term Debt	$ 372,049	$ 509,497

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2021	Mar. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	May 03, 2019	Sep. 29, 2017
Debt Disclosure [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross			$ 400,000
Letters of credit outstanding			$ 400,000	$ 400,000
Current Ratio			1
Debt To E B I T D Ratio Maximum			3.50
Anti-hording provision, Max cash			$ 25,000,000
Second Lien Facility			144,985,000	200,000,000		$ 200,000,000
Debt Instrument, Unamortized Discount			1,012,000	1,604,000
Unamortized Debt Issuance Expense			$ 3,324,000	$ 3,299,000
First Lien Debt To E B I T D Ratio Maximum			2.50
Amortization Payment	$ 1,875,000
Revolving Credit Facility
Debt Disclosure [Line Items]
Commitment fee			0.50%
Minimum [Member] | Revolving Credit Facility
Debt Disclosure [Line Items]
Interest rate			1.50%
Minimum [Member] | LIBOR | Revolving Credit Facility
Debt Disclosure [Line Items]
Applicable margin			2.50%
Maximum [Member] | Revolving Credit Facility
Debt Disclosure [Line Items]
Interest rate			2.50%
Maximum [Member] | LIBOR | Revolving Credit Facility
Debt Disclosure [Line Items]
Applicable margin			3.50%
Revolving Credit Facility
Debt Disclosure [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 375,000,000		$ 1,000,000,000
Line of Credit Facility, Current Borrowing Capacity			$ 350,000,000
Interest Rate at Period End			3.08%
Revolving Credit Facility | Interest Payable One [Member]
Debt Disclosure [Line Items]
Debt Instrument, Interest Payable Period			1 month
Revolving Credit Facility | Interest Payable Two [Member]
Debt Disclosure [Line Items]
Debt Instrument, Interest Payable Period			3 months
Revolving Credit Facility | Interest Payable Three [Member]
Debt Disclosure [Line Items]
Debt Instrument, Interest Payable Period			6 months
Line of Credit [Member] | Year 1 [Domain]
Debt Disclosure [Line Items]
Prepayment Premium			10200.00%
Line of Credit [Member] | Year 2 [Domain]
Debt Disclosure [Line Items]
Prepayment Premium			10100.00%
Line of Credit [Member] | Letter of Credit
Debt Disclosure [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 25,000,000
Second Lien Facility [Member]
Debt Disclosure [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross	1,400,000
Interest rate option two, applicable margin rate			8.25%	7.25%
Interest rate option one, applicable margin rate over Adjusted LIBOR		9.25%	825.00%
Debt Instrument, Interest Rate Floor			1.00%
Payment for Debt Extinguishment or Debt Prepayment Cost	50,000,000
Repayments of Debt	$ 1,300,000
Asset Coverage Ratio	1.25
Second Lien Facility Interest Rate			9.25%
Second Lien Facility [Member] | Year 1 [Domain]
Debt Disclosure [Line Items]
Prepayment Premium			10200.00%
Year 2 [Domain] | Year 1 [Domain]
Debt Disclosure [Line Items]
Prepayment Premium			10100.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Jan. 15, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Examination [Line Items]
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent				1.10%	0.70%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability					$ 1,200,000
Unrecognized Tax Benefits		$ 0		$ 0
Income Tax Examination, Penalties and Interest Expense				0	0
Income Tax Expense (Benefit)		(200,000)	$ (700,000)	(100,000)	(400,000)
Current Federal, State and Local, Tax Expense (Benefit)		171,000	$ (690,000)	(139,000)	$ 448,000
Deferred Tax Liabilities, Tax Deferred Income		$ 500,000		$ 500,000
Juniper Transaction
Income Tax Examination [Line Items]
Income Tax Adjustment	$ (708,000)

Supplemental Balance Sheet (Det

Supplemental Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Prepaid and other current assets:
Inventories 1	$ 7,023	$ 4,274
Prepaid expenses 2	5,737	14,771
Other Assets, Current	12,760	19,045
Other assets:
Deferred issuance costs of the Revolver	2,336	2,349
Operating Lease, Right-of-Use Asset	2,096	2,432
Other	946	127
Other assets	5,378	4,908
Accounts payable and accrued liabilities:
Trade accounts payable	30,701	7,055
Drilling and other lease operating costs	31,892	16,088
Royalties	46,123	26,615
Production, ad valorem and other taxes	6,994	3,094
Derivative Liability Settlements to Counterparties	11,943	321
Compensation	3,270	4,222
Interest	386	504
Operating Lease, Liability, Current	959	936
Other	883	4,254
Accounts payable and accrued liabilities	133,151	63,089
Other non-current liabilities:
Asset retirement obligations	5,809	5,461
Non-current operating lease obligations	1,363	1,752
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent	1,114	1,149
Other Liabilities, Noncurrent	8,286	8,362
Tubular Inventory and Well Materials	6,700	3,900
Capitalized Costs - Crude Oil in Storage	300	400
Drilling and Completion Prepayment	$ 3,600	13,600
Accrued Expenses - Juniper Transaction		$ 3,500

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Current	$ 6,025	$ 75,506
Derivative Asset, Noncurrent	2,693	25,449
Liabilities:
Commodity derivative liabilities – current	(64,346)	(85,106)
Derivative Liability, Noncurrent	(21,425)	(28,434)
Fair Value, Measurements, Recurring | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Current	6,025	75,506
Derivative Asset, Noncurrent	2,693	25,449
Liabilities:
Commodity derivative liabilities – current	(60,960)	81,451
Derivative Liability, Noncurrent	(21,425)	(26,789)
Fair Value, Measurements, Recurring | Commodity contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Current	0	0
Derivative Asset, Noncurrent	0	0
Liabilities:
Commodity derivative liabilities – current	0	0
Derivative Liability, Noncurrent	0	0
Fair Value, Measurements, Recurring | Commodity contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Current	6,025	75,506
Derivative Asset, Noncurrent	2,693	25,449
Liabilities:
Commodity derivative liabilities – current	(60,960)	81,451
Derivative Liability, Noncurrent	(21,425)	(26,789)
Fair Value, Measurements, Recurring | Commodity contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Current	0	0
Derivative Asset, Noncurrent	0	0
Liabilities:
Commodity derivative liabilities – current	0	0
Derivative Liability, Noncurrent	0	0
Fair Value, Measurements, Recurring | Interest Rate Swap
Liabilities:
Commodity derivative liabilities – current	(3,386)
Derivative Liability, Noncurrent	0
Fair Value, Measurements, Recurring | Interest Rate Swap | Level 1
Liabilities:
Commodity derivative liabilities – current	0	0
Derivative Liability, Noncurrent	0	0
Fair Value, Measurements, Recurring | Interest Rate Swap | Level 2
Liabilities:
Commodity derivative liabilities – current	(3,386)	(3,655)
Derivative Liability, Noncurrent	0	(1,645)
Fair Value, Measurements, Recurring | Interest Rate Swap | Level 3
Liabilities:
Commodity derivative liabilities – current	0	0
Derivative Liability, Noncurrent	$ 0	$ 0
Crude Oil | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Third-party quoted forward prices	NYMEX WTI
MEH [Member] | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Third-party quoted forward prices	MEH
Natural Gas [Member] | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Third-party quoted forward prices	NYMEX HH
Natural Gas Liquids | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Third-party quoted forward prices	OPIS Mt Belv Ethane

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)bbl	Jun. 30, 2020USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Line Items]
Number of barrels | bbl			8,000
Asset Retirement Obligation	$ 5,800		$ 5,800			$ 5,500
Estimated Litigation Liability, Current	100		100			$ 100
Frac Services Prepayment	300		300		$ 12,000
Other Pension, Postretirement and Supplemental Plans [Member]
Commitments and Contingencies Disclosure [Line Items]
Pension and Other Postretirement Benefits Cost (Reversal of Cost)	100	$ 100	$ 100	$ 100
Gonzales, Lavaca and Fayette Counties, Texas
Commitments and Contingencies Disclosure [Line Items]
Number of barrels | bbl			20,000
Crude Oil Storage Capacity | Nuevo G&T
Commitments and Contingencies Disclosure [Line Items]
Number of barrels | bbl			180,000
Crude Oil Gathering And Transportation Services
Commitments and Contingencies Disclosure [Line Items]
Contractual Obligation, Remainder of the Current Year	7,000		$ 7,000
Contractual Obligation, Due 2022 through 2025	13,900		13,900
Contractual Obligation, Due 2026	7,800		7,800
Contractual Obligation, Due 2027 through 2030	3,800		3,800
Contractual Obligation, Due 2031	$ 600		$ 600
Crude Oil Storage Capacity with Downstream Interstate Pipeline | Nuevo G&T
Commitments and Contingencies Disclosure [Line Items]
Number of barrels | bbl			90,000
Crude Oil Storage Capacity with Downstream Interstate Pipeline | Nuevo Dos Gathering and Transportation, LLC-Marketing Affiliate
Commitments and Contingencies Disclosure [Line Items]
Number of barrels | bbl			62,000
Tank Capacity | Nuevo G&T
Commitments and Contingencies Disclosure [Line Items]
Number of barrels | bbl			70,000
Additional Crude Oil Storage Capacity With Downstream Interstate Pipeline | Nuevo Dos Gathering and Transportation, LLC-Marketing Affiliate
Commitments and Contingencies Disclosure [Line Items]
Number of barrels | bbl			120,000

Share-Based Compensation and _2

Share-Based Compensation and Other Benefit Plans - Summary of Share-Based Compensation Expense (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation		$ 1,000	$ 3,208	$ 1,807
Defined Contribution Plan, Cost	$ 100	200	$ 300	400
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			22,800,000
Other Pension, Postretirement and Supplemental Plans [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Pension and Other Postretirement Benefits Cost (Reversal of Cost)	$ 100	$ 100	$ 100	$ 100
Time Vested Restricted Stock Units - Employees [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	118,223	223,882	118,223	223,882
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	760,220		760,220
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 13.84	$ 2.78
Shares, Issued	105,038	36,174	105,038	36,174
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	273,962		273,962
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangements By Share-based Payment Award, Award Amortization Period			1 year
Performance Shares [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	282,706	87,899	282,706	87,899
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			134.74%			49.90%
Shares, Issued	6,800	3,895	6,800	3,895
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.00%		0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	484,197		484,197
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum			0.22%		0.18%	1.66%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum			0.29%		0.51%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	351,518		351,518
Performance Shares [Member] | Minimum [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			131.74%		101.32%
Share-based Compensation Arrangement by Share-based Payment Award, Shares, Expected to Vest, Percentage			0.00%
Performance Shares [Member] | Maximum [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate					117.71%
Share-based Compensation Arrangements By Share-based Payment Award, Award Amortization Period			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Shares, Expected to Vest, Percentage			200.00%
Performance Shares [Member] | Year 1 [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value						$ 34.02
Performance Shares [Member] | Year 1 [Member] | Minimum [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 17.74		$ 2.40
Performance Shares [Member] | Year 1 [Member] | Maximum [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 33.31		$ 16.02
Change in Control
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	$ 1,900
Restricted Stock Units and Performance Stock Units
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		100,000	300,000
ROCE
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 13.63
Employees and Directors [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	4,424,600		4,424,600

Components of Calculation of Ba

Components of Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ 7,596	$ (20,021)	$ (94,715)	$ 163,094	$ (12,425)	$ 68,379
Net (income) loss attributable to Noncontrolling interest	(4,551)		0		1,898	0
Net Income (Loss) Available to Common Stockholders, Basic	3,045		(94,715)		(10,527)	68,379
Net Income (Loss) Available to Common Stockholders, Diluted	$ 7,596		$ (94,715)		$ (12,425)	$ 68,379
Weighted-average shares – basic (in shares)	15,311		15,167		15,287	15,159
Common Units and Series A Preferred Stock that are exchangeable for common share (in shares)	22,549		0		0	0
RSUs and PRSUs (in shares)	512		0		0	109
Weighted-average shares – diluted (in shares)	38,372		15,167		15,287	15,268
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount					22,800
Restricted Stock Units and Performance Stock Units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			100		300
Common Units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount					22,500
Series A Preferred Stock [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount					200

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] $ in Thousands	Jul. 28, 2021USD ($)	Jul. 10, 2021Customershares
Subsequent Event [Line Items]
Merger shares | shares		0.51
Lonestar Voting Power		80.00%
Penn Virginia Voting Power		60.00%
Penn Virginia Ownership of Combined Company		87.00%
Lonestar Ownership of Combined Company		13.00%
Lonestar Director on Penn Virginia's Board | Customer		1
Senior Notes | $	$ 400,000
Senior Notes, Interest Rate	9.25%
Senior Notes Redemption Percentage	100.00%
Senior Notes, Discounted Percentage	99.018%

Uncategorized Items - pva-20210

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201613Member