PDC Energy (PDCE) 10-Q 4 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 26, 2022
Cover [Abstract]
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Tax Identification Number	95-2636730
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80203
City Area Code	303
Local Phone Number	860-5800
Entity Registrant Name	PDC ENERGY, INC.
Entity Address, Address Line One	1775 Sherman Street,
Entity Address, Address Line Two	Suite 3000
Entity Address, City or Town	Denver
Entity Central Index Key	0000077877
Trading Symbol	PDCE
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-37419
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		95,429,367
Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Information [Line Items]
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 171,157	$ 33,829
Accounts receivable, net	537,056	398,605
Prepaid expenses and other current assets	12,191	8,230
Total current assets	733,562	458,573
Properties and equipment, net	4,886,264	4,814,865
Other assets	91,582	48,051
Total Assets	5,731,364	5,336,666
Current liabilities:
Accounts payable	192,268	127,891
Production tax liability	112,348	99,583
Funds held for distribution	302,649	285,861
Accrued interest payable	18,251	10,482
Other accrued expenses	77,130	91,409
Total current liabilities	1,275,282	920,096
Long-term debt	942,565	942,084
Asset retirement obligations	123,856	127,526
Other liabilities	360,643	314,769
Total liabilities	2,966,613	2,426,419
Stockholders' Equity:
Common shares - par value $0.01 per share, 150,000,000 authorized, 95,749,823 and 96,468,071 issued as of March 31, 2022 and December 31, 2021, respectively	957	965
Additional paid-in capital	3,052,741	3,161,941
Accumulated deficit	(281,914)	(249,954)
Treasury shares - at cost, 105,002 and 54,960 as of March 31, 2022 and December 31, 2021, respectively	(7,033)	(2,705)
Total stockholders’ equity	2,764,751	2,910,247
Total Liabilities and Stockholders’ Equity	$ 5,731,364	5,336,666
Common stock, shares authorized	150,000,000
Deferred income taxes	$ 29,983	26,383
Derivative Assets, Gross, Current	13,158	17,909
Derivative Assets, Gross, Noncurrent	19,956	15,177
Derivative Liability, Gross, Current	572,636	304,870
Derivative Liability, Gross, Noncurrent	$ 234,284	$ 95,561

Balance Sheet Parenthetical (Pa

Balance Sheet Parenthetical (Parentheticals) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Common stock, shares authorized	150,000,000
Common stock, shares issued	95,749,823	96,468,071
Treasury shares, at cost	105,002	54,960
Common stock, par value	$ 0.01

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Crude oil, natural gas and NGLs sales	$ 882,378	$ 468,119
Commodity price risk management gain (loss), net	(568,055)	(181,256)
Other income	2,125	(827)
Total revenues	316,448	286,036
Costs, expenses and other:
Lease operating expense	54,156	41,804
Production taxes	62,916	29,492
Transportation, gathering and processing expense	27,971	21,732
Exploration, geologic and geophysical expense	253	354
General and administrative expense	34,107	32,677
Depreciation, depletion and amortization	151,055	146,763
Accretion of asset retirement obligations	2,987	3,128
Impairment of properties and equipment	943	190
Loss (gain) on sale of properties and equipment	(125)	(212)
Other expense	0	48
Total cost, expenses and other	334,263	275,976
Income (loss) from operations	(17,815)	10,060
Interest expense	(12,945)	(19,041)
Income (loss) before income taxes	(30,760)	(8,981)
Income tax (expense) benefit	(1,200)	(55)
Net income (loss)	$ (31,960)	$ (9,036)
Earnings per share:
Basic	$ (0.33)	$ (0.09)
Diluted	$ (0.33)	$ (0.09)
Weighted-average common shares outstanding
Basic	96,279	99,702
Diluted	96,279	99,702
Common Stock, Dividends, Per Share, Declared	$ 0.25

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Net income (loss)	$ (31,960)	$ (9,036)
Adjustments to net income (loss) to reconcile to net cash provided by operating activities:
Net change in fair value of unsettled commodity derivatives	406,461	150,606
Depreciation, depletion and amortization	151,055	146,763
Impairment of properties and equipment	943	190
Accretion of asset retirement obligations	2,987	3,128
Non-cash stock-based compensation	5,474	5,020
Loss (gain) on sale of properties and equipment	(125)	(212)
Amortization of debt discount and issuance costs	1,357	3,837
Deferred income taxes	3,600	0
Other	(905)	(305)
Changes in assets and liabilities	(49,839)	53,068
Net cash from operating activities	489,048	353,059
Cash flows from investing activities:
Capital expenditures for development of crude oil and natural gas properties	(187,021)	(109,048)
Capital expenditures for other properties and equipment	(67)	(69)
Proceeds from sale of properties and equipment	89	4,370
Proceeds from Divestiture of Businesses	465	0
Restricted Cash and Cash Equivalents	50,000
Net cash from investing activities	(236,534)	(104,747)
Cash flows from financing activities:
Proceeds from revolving credit facility	100,500	229,000
Repayment of revolving credit facility	(100,500)	(397,000)
Payments of Debt Issuance Costs	30	0
Purchase of treasury shares for employee stock-based compensation tax withholding obligations	(9,203)	(2,356)
Purchase of treasury shares under stock repurchase program	(80,853)	(21,067)
Dividends paid	(24,681)	0
Finance Lease, Principal Payments	(419)	(445)
Net cash from financing activities	(115,186)	(191,868)
Net change in cash, cash equivalents, and restricted cash	137,328	56,444
Cash, cash equivalents and restricted cash, beginning of period	33,829	2,623
Cash, cash equivalents and restricted cash, end of period	171,157	59,067
Restricted Cash and Cash Equivalents	50,000
Escrow Deposit Disbursements Related to Property Acquisition	$ (50,000)	$ 0

Consolidated Statement of Equit

Consolidated Statement of Equity (Statement) - USD ($) $ in Thousands	Total	Parent [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Shares, Issued							(38,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' Equity Attributable to Parent		$ 2,615,538	$ 998	$ 3,387,754		$ (772,265)	$ (949)
Shares, Outstanding			99,759,000
Weighted Average Number of Shares Outstanding, Basic	99,702,000
Issuance of treasury shares					65,000
Purchase of treasury shares		(2,356)			$ (2,356)
Issuance of treasury shares		0		0	0
Net income (loss)	$ (9,036)	(9,036)				(9,036)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			209,000				0
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture		5,020	$ 2	3,670			$ 1,348
Treasury Stock, Shares, Retired			(33,000)				33,000
Treasury Stock, Retired, Cost Method, Amount			$ 0	(1,091)	$ 1,091
Stock Repurchased and Retired During Period, Shares			(568,000)		568,000
Stock Repurchased During Period, Value		(22,098)			$ (22,098)
Stock Repurchased and Retired During Period, Value			$ (6)	(21,061)	$ 21,067
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation					(81,000)
Stock Repurchased During Period, Shares					(598,000)
Shares, Issued							(51,000)
Stockholders' Equity Attributable to Parent		2,587,068	$ 994	3,369,272		(781,301)	$ (1,897)
Shares, Outstanding			99,367,000
Shares, Issued							(55,000)
Stockholders' Equity Attributable to Parent	$ 2,910,247	2,910,247	$ 965	3,161,941		(249,954)	$ (2,705)
Shares, Outstanding			96,468,000
Weighted Average Number of Shares Outstanding, Basic	96,279,000
Issuance of treasury shares					67,000
Purchase of treasury shares		(9,203)			$ (9,203)
Issuance of treasury shares		0		0	0
Net income (loss)	$ (31,960)	(31,960)				(31,960)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			655,000				0
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture		5,474	$ 7	1,798			$ 3,669
Treasury Stock, Shares, Retired			(53,000)				53,000
Treasury Stock, Retired, Cost Method, Amount			$ (2)	(3,022)	$ 3,024
Stock Repurchased and Retired During Period, Shares			(1,320,000)		1,320,000
Stock Repurchased During Period, Value		(85,339)			$ (85,339)
Stock Repurchased and Retired During Period, Value			$ (13)	(83,508)	$ 83,521
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation					(164,000)
Stock Repurchased During Period, Shares					(1,326,000)
Dividends, Common Stock	(24,500)	(24,468)		(24,468)
Shares, Issued							(105,000)
Stockholders' Equity Attributable to Parent	$ 2,764,751	$ 2,764,751	$ 957	$ 3,052,741		$ (281,914)	$ (7,033)
Shares, Outstanding			95,750,000

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2022
NATURE OF OPERATIONS AND BASIS OF PRESENTATION [Abstract]
Nature of Operations	NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION PDC Energy, Inc. is a domestic independent exploration and production company that acquires, explores and develops properties for the production of crude oil, natural gas and NGLs, with operations in the Wattenberg Field in Colorado and the Delaware Basin in west Texas. Our operations in the Wattenberg Field are focused in the horizontal Niobrara and Codell plays and our Delaware Basin operations are primarily focused in the horizontal Wolfcamp zones. As of March 31, 2022, we owned an interest in approximately 3,450 gross productive wells. The accompanying unaudited condensed consolidated financial statements include the accounts of PDC and our wholly-owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. In our opinion, the accompanying condensed consolidated financial statements contain all adjustments, consisting of normal recurring adjustments necessary for a fair statement of the results of interim periods presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, pursuant to such rules and regulations, certain notes and other financial information included in audited financial statements have been condensed or omitted. The December 31, 2021 condensed consolidated balance sheet data was derived from audited statements, but does not include all disclosures required by U.S. GAAP. The information presented in this Quarterly Report on Form 10-Q should be read in conjunction with our audited consolidated financial statements and notes thereto included in our 2021 Form 10-K. Our results of operations and cash flows for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for the full year or any other future period.

Revenue Recognition (Notes)

Revenue Recognition (Notes)	3 Months Ended
	Mar. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Revenue from Contract with Customer [Text Block]	NOTE 3 - REVENUE RECOGNITION Disaggregated Revenue. The following table presents crude oil, natural gas and NGLs sales disaggregated by commodity and operating region for the periods presented: Three Months Ended March 31, Revenue by Commodity and Operating Region 2022 2021 Percent Change (in thousands) Crude oil Wattenberg Field $ 451,911 $ 235,963 92 % Delaware Basin 97,838 37,688 160 % Total 549,749 273,651 101 % Natural gas Wattenberg Field 143,699 97,022 48 % Delaware Basin 19,425 8,624 125 % Total 163,124 105,646 54 % NGLs Wattenberg Field 138,875 77,777 79 % Delaware Basin 30,630 11,045 177 % Total 169,505 88,822 91 % Crude oil, natural gas and NGLs Wattenberg Field 734,485 410,762 79 % Delaware Basin 147,893 57,357 158 % Total $ 882,378 $ 468,119 88 % Contract Assets. Contract assets include material contributions in aid of construction, which are common in purchase and processing agreements with midstream service providers that are our customers. The intent of the payments is primarily to reimburse the customer for actual costs incurred related to the construction of its gathering and processing infrastructure. Contract assets are included in other assets on the condensed consolidated balance sheets. The contract assets are amortized as a reduction to crude oil, natural gas and NGLs sales revenue during the periods in which the related production is transferred to the customer. The following table presents the changes in carrying amounts of the contract assets for the three months ended March 31, 2022: (in thousands) Beginning balance $ 15,472 Additions (Net reduction to additions previously recognized) (5,112) Amortized as a reduction to crude oil, natural gas and NGLs sales (328) Ending balance $ 10,032

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, Measurement Inputs, Disclosure	NOTE 4 - FAIR VALUE MEASUREMENTS Recurring Fair Value Measurements Derivative Financial Instruments. We measure the fair value of our commodity derivative instruments based upon a pricing model that utilizes market-based inputs, including, but not limited to, the contractual price of the underlying position, current market prices, crude oil and natural gas forward curves, discount rates, volatility factors and nonperformance risk. Nonperformance risk considers the effect of our credit standing on the fair value of derivative liabilities and the effect of our counterparties’ credit standings on the fair value of derivative assets. Both inputs to the model are based on published credit default exchange rates and the duration of each outstanding derivative position. We use our counterparties’ valuations to assess reasonableness of our fair value measurement. Our crude oil and natural gas fixed-price exchanges and basis exchanges are included in Level 2. Our collars are included in Level 3. The following table presents, for each applicable level within the fair value hierarchy, our derivative assets and liabilities, including both current and non-current portions, measured at fair value on a recurring basis as of the dates indicated: March 31, 2022 December 31, 2021 Condensed Consolidated Balance Sheet Line Item Significant Other Significant Total Significant Other Significant Total (in thousands) Derivative assets Current Fair value of derivatives $ 6,795 $ 6,363 $ 13,158 $ — $ 17,909 $ 17,909 Non-current Fair value of derivatives 4,680 15,276 19,956 605 14,572 15,177 Total $ 11,475 $ 21,639 $ 33,114 $ 605 $ 32,481 $ 33,086 Derivative liabilities Current Fair value of derivatives $ (389,334) $ (183,302) $ (572,636) $ (230,695) $ (74,175) $ (304,870) Non-current Fair value of derivatives (169,736) (64,548) (234,284) (74,715) (20,846) (95,561) Total $ (559,070) $ (247,850) $ (806,920) $ (305,410) $ (95,021) $ (400,431) The following table presents a reconciliation of our Level 3 assets and liabilities measured at fair value for the periods presented: Three Months Ended March 31, 2022 2021 (in thousands) Fair value of Level 3 instruments, net asset (liability) beginning of period $ (62,540) $ (8,427) Changes in fair value included on condensed consolidated statements of operations line item: Commodity price risk management gain (loss), net (209,771) (33,389) Settlements included on condensed consolidated statement of operations line items: Commodity price risk management gain (loss), net 46,100 5,582 Fair value of Level 3 instruments, net asset (liability) end of period $ (226,211) $ (36,234) Net change in fair value of Level 3 unsettled derivatives included on condensed consolidated statements of operations line item: Commodity price risk management gain (loss), net $ (159,118) $ (30,863) The significant unobservable input used in the fair value measurement of our derivative contracts is the implied volatility curve, which is provided by a third-party vendor. A significant increase or decrease in the implied volatility, in isolation, would have a directionally similar effect resulting in a significantly higher or lower fair value measurement of our Level 3 derivative contracts. There has been no change in the methodology we apply to measure the fair value of our Level 3 derivative contracts during the periods covered by the financial statements. Nonrecurring Fair Value Measurements Acquisitions and Impairment of Long-lived Assets. We measure fair value using inputs that are not observable in the market, and are therefore designated as Level 3 within the valuation hierarchy, on a nonrecurring basis for any acquired assets or businesses and to review our proved and unproved crude oil and natural gas properties for possible impairment. Asset Retirement Obligations. We measure the fair value of asset retirement obligations as of the date a well begins drilling or when production equipment and facilities are installed using a discounted cash flow model based on inputs that are not observable in the market and therefore are designated as Level 3 within the valuation hierarchy. Other Financial Instruments The carrying value of the financial instruments included in current assets and current liabilities approximates fair value due to the short-term maturities of these instruments. Long-term Debt. The portion of our long-term debt related to our revolving credit facility approximates fair value, as the applicable interest rates are variable and reflective of market rates. We have not elected to account for the portion of our debt related to our senior notes under the fair value option; however, we have determined an estimate of the fair values based on measurements of trading activity and broker or dealer quotes, which are published market prices, and therefore are Level 2 inputs. The table below presents these estimates of the fair value of the portion of our long-term debt related to our senior notes as of the dates indicated: March 31, 2022 December 31, 2021 Nominal Interest Estimated Fair Value Percent of Par Estimated Fair Value Percent of Par (in millions) (in millions) Senior Notes: 2024 Senior Notes 6.125 % $ 202.6 101.3 % $ 202.8 101.4 % 2026 Senior Notes 5.75 % 762.0 101.6 % 775.5 103.4 %

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2022
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	NOTE 5 - COMMODITY DERIVATIVE FINANCIAL INSTRUMENTS Objective and Strategy. Our results of operations and operating cash flows are affected by changes in market prices for crude oil, natural gas and NGLs. To manage a portion of our exposure to price volatility from producing crude oil and natural gas we enter into commodity derivative contracts such as collars, fixed-price exchanges and basis protection exchanges, to protect against price declines in future periods. We do not enter into derivative contracts for speculative or trading purposes. We believe our commodity derivative instruments continue to be effective in achieving the risk management objectives for which they were intended. Depending on changes in crude oil and gas futures markets and management’s view of underlying supply and demand trends, we may increase or decrease our derivative positions from current levels. As of March 31, 2022, we had derivative instruments in place for a portion of our anticipated production in 2022 through 2025. Our commodity derivative contracts have been entered into at no upfront cost to us as we hedge our anticipated production at the then-prevailing commodity market prices, without adjustment for premium or discount. Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations . The following table presents the impact of our derivative instruments on our condensed consolidated statements of operations for the periods presented: Three Months Ended March 31, Condensed Consolidated Statement of Operations Line Item 2022 2021 (in thousands) Commodity price risk management gain (loss), net Net settlements $ (161,594) $ (30,650) Net change in fair value of unsettled derivatives (406,461) (150,606) Total commodity price risk management gain (loss), net $ (568,055) $ (181,256) Commodity Derivative Contracts. As of March 31, 2022, we had the following outstanding derivative contracts. When aggregating multiple contracts, the weighted average contract price is presented: Collars Fixed-Price Swaps Commodity/ Index/ Quantity (Crude oil - MBbls Natural Gas - BBtu) Weighted Average Quantity (Crude Oil - MBbls Gas and Basis- BBtu) Weighted Fair Value March 31, 2022 (in thousands) Floors Ceilings Crude Oil NYMEX 2022 4,104 $ 53.18 $ 67.33 5,028 $ 46.14 $ (349,549) 2023 4,833 58.13 76.68 6,510 60.13 (206,083) 2024 225 55.00 75.12 6,126 70.59 (39,312) 2025 — — — 1,200 73.00 (398) Total Crude Oil 9,162 18,864 (595,342) Natural Gas NYMEX 2022 26,595 3.14 4.78 25,200 2.70 (117,951) 2023 15,060 3.07 4.36 34,742 3.01 (58,102) 2024 — — — 26,160 3.49 (5,337) 41,655 86,102 (181,390) CIG 2023 — — — 8,760 3.39 (6,185) 2025 — — — 4,800 3.10 (1,425) — 13,560 (7,610) Total Natural Gas 41,655 99,662 (189,000) Basis Protection - Natural Gas CIG 2022 51,795 (0.25) 9,540 2023 49,802 (0.30) 1,711 2024 26,160 (0.39) (715) Total Basis Protection - Natural Gas 127,757 10,536 Commodity Derivatives Fair Value $ (773,806) Subsequent to March 31, 2022, we entered into the following commodity derivative positions covering our crude oil and natural gas production: Collars Fixed-Price Swaps Commodity/ Index/ Quantity (Crude oil - MBbls Natural Gas - BBtu) Weighted-Average Quantity (Crude oil - MBbls Natural Gas - BBtu) Weighted- Floors Ceilings Crude Oil NYMEX 2023 600 $ 75.00 $ 110.00 804 $ 86.00 Natural Gas NYMEX 2023 900 5.00 14.40 — — Basis Protection CIG 2022 — — — 13,300 (0.31) 2023 — — — 4,800 (0.28) Effect of Derivative Instruments on the Condensed Consolidated Balance Sheet. The balance sheet line items and fair value amounts of our derivative instruments are disclosed in Note 4 - Fair Value Measurements. Our financial derivative agreements contain master netting provisions that provide for the net settlement of contracts through a single payment in the event of early termination. We have elected not to offset the fair value positions recorded on our condensed consolidated balance sheets. The following table reflects the impact of netting agreements on gross derivative assets and liabilities as of March 31, 2022: Total Gross Amount Presented on the Balance Sheet Effect of Master Netting Agreements Total Net Amount (in thousands) Derivative assets: Derivative instruments, at fair value $ 33,114 $ (33,114) $ — Derivative liabilities: Derivative instruments, at fair value $ 806,920 $ (33,114) $ 773,806 Derivative Counterparties. Our commodity derivative instruments expose us to the risk of non-performance by our counterparties. We use financial institutions who are also lenders under our revolving credit facility as counterparties to our commodity derivative contracts. To date, we have had no derivative counterparty default losses. We have evaluated the credit risk of our derivative assets from our counterparties using relevant credit market default rates, giving consideration to amounts outstanding for each counterparty and the duration of each outstanding derivative position. Based on our evaluation, we have determined that the potential impact of nonperformance of our current counterparties on the fair value of our derivative instruments is not significant at March 31, 2022; however, this determination may change.

Properties and Equipment

Properties and Equipment	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment Disclosure	NOTE 6 - PROPERTIES AND EQUIPMENT, NET The following table presents the components of properties and equipment, net of accumulated depreciation, depletion and amortization (“DD&A”) as of the dates indicated: March 31, 2022 December 31, 2021 (in thousands) Properties and equipment, net: Crude oil and natural gas properties Proved $ 8,511,308 $ 8,310,018 Unproved 306,210 306,181 Total crude oil and natural gas properties 8,817,518 8,616,199 Equipment and other 66,917 63,099 Land and buildings 19,928 19,928 Construction in progress 387,212 371,968 Properties and equipment, at cost 9,291,575 9,071,194 Accumulated DD&A (4,405,311) (4,256,329) Properties and equipment, net $ 4,886,264 $ 4,814,865 Impairment of Oil and Gas Properties. There were no significant impairment charges recognized related to our proved and unproved properties during the three months ended March 31, 2022 and 2021. Suspended Well Costs. The following table presents the capitalized exploratory well cost pending determination of proved reserves and included in properties and equipment for the periods presented: Three Months Ended March 31, 2022 Year Ended December 31, 2021 (in thousands, except for number of wells) Beginning balance $ — $ 7,459 Additions to capitalized exploratory well costs pending the determination of proved reserves 3,428 5,902 Reclassifications to proved properties — (13,361) Ending balance $ 3,428 $ — Number of wells pending determination at period-end 1 —

Other Accrued Expenses and Othe

Other Accrued Expenses and Other Liabilities (Notes)	3 Months Ended
	Mar. 31, 2022
Accrued Liabilities and Other Liabilities [Abstract]
Other Income and Other Expense Disclosure [Text Block]	NOTE 7 - ACCOUNTS RECEIVABLE, OTHER ACCRUED EXPENSES AND OTHER LIABILITIES Accounts Receivable. The following table presents the components of accounts receivable, net of allowance for doubtful accounts, as of the dates indicated: March 31, 2022 December 31, 2021 (in thousands) Crude oil, natural gas and NGLs sales $ 523,029 $ 368,991 Joint interest billings 16,922 24,860 Other 550 10,809 Allowance for doubtful accounts (3,445) (6,055) Accounts receivable, net $ 537,056 $ 398,605 Other Accrued Expenses. The following table presents the components of other accrued expenses as of the dates indicated: March 31, 2022 December 31, 2021 (in thousands) Employee benefits $ 12,935 $ 29,319 Asset retirement obligations 31,914 32,146 Environmental expenses 12,266 11,942 Operating and finance leases 7,574 7,197 Other 12,441 10,805 Other accrued expenses $ 77,130 $ 91,409 Other Liabilities. The following table presents the components of other liabilities as of the dates indicated: March 31, 2022 December 31, 2021 (in thousands) Deferred midstream gathering credits $ 157,526 $ 159,788 Deferred oil gathering credits 15,578 16,080 Production taxes 178,722 131,865 Operating and finance leases 7,971 6,274 Other 846 762 Other liabilities $ 360,643 $ 314,769 Deferred Midstream Gathering Credits. In 2019, we entered into agreements pursuant to which we dedicated the gathering of certain of our production and all water gathering and disposal volumes in the Delaware Basin. The terms of these agreements range from 15 to 22 years. The acreage dedication agreements resulted in initial cash receipts and are being amortized on a units-of-production basis. The amortization rates are assessed on an annual basis for changes in estimated future production. Deferred Oil Gathering Credits. In 2018, we entered into an agreement that dedicates crude oil from the majority of our Wattenberg Field acreage to the midstream provider’s gathering lines and extends the term of the agreement through December 2029. The acreage dedication agreement resulted in an initial cash receipt and is being amortized on a units-of-production basis. The amortization rates are assessed on an annual basis for changes in estimated future production. The following table presents the amortization charges related to our deferred credits recognized on the condensed consolidated statements of operations for the periods indicated: Three Months Ended March 31, 2022 2021 (in thousands) Transportation, gathering and processing expense $ 1,956 $ 1,521 Lease operating expense 531 438

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Debt	NOTE 8 - LONG-TERM DEBT Long-term debt, net of unamortized discounts, premiums, and debt issuance costs totaling $7.4 million and $7.9 million as of March 31, 2022 and December 31, 2021, respectively, consists of the following: March 31, 2022 December 31, 2021 (in thousands) Revolving credit facility due November 2026 $ — $ — 6.125% Senior Notes due September 2024 198,796 198,674 5.75% Senior Notes due May 2026 743,769 743,410 Total debt, net of unamortized discount, premium and debt issuance costs $ 942,565 $ 942,084 Revolving Credit Facility In November 2021, we entered into a Fifth Amended and Restated Credit Agreement (the “Restated Credit Agreement”), which provides for a maximum credit amount of $2.5 billion, subject to certain limitations, an initial borrowing base of $2.4 billion and an elected commitment of $1.5 billion. The Restated Credit Agreement matures on the earlier to occur of (i) the end of the five-year term on November 2, 2026 or (ii) the date that is 91 days prior to the scheduled maturity of the 2026 Senior Notes if the aggregate outstanding principal amount of those notes exceeds $500 million and our commitment utilization exceeds 50%. The revolving credit facility is available for working capital requirements, capital investments, acquisitions, to support letters of credit and for general business purposes. The borrowing base is based on, among other things, the loan value assigned to the proved reserves attributable to our crude oil and natural gas interests. The borrowing base is subject to a semi-annual redetermination on November 1 and May 1 based upon quantification of our reserves at June 30 and December 31, and is also subject to a redetermination upon the occurrence of certain events. Substantially all of our crude oil and natural gas properties have been mortgaged or pledged as security for our revolving credit facility. The Restated Credit Agreement includes an investment grade period election pursuant to which we have an option to remove our borrowing base limitations and terminate the liens securing the Restated Credit Agreement when certain debt ratings are achieved. As of March 31, 2022, we had a borrowing base of $2.4 billion, an elected commitment of $1.5 billion and availability under our revolving credit facility of $1.48 billion, net of $19.9 million of letters of credit outstanding. In April 2022, as part of our credit facility 2022 semi-annual redetermination, our borrowing base increased from $2.4 billion to $3.0 billion; however, we maintained our elected commitment amount of $1.5 billion. The outstanding principal amount under the revolving credit facility accrues interest at a varying interest rate that fluctuates with an alternate base rate (equal to the greatest of the administrative agent's prime rate, the federal funds rate plus a premium and the rate for dollar deposits in the Secured Overnight Financing Rate (“SOFR”) for one month, plus a premium) or, at our election, a rate equal to SOFR for certain time periods. Additionally, commitment fees, interest margin and other bank fees, charged as a component of interest, vary with our utilization of the facility. As of March 31, 2022, the applicable interest margin is 0.75 percent for the alternate base rate option or 1.75 percent for the SOFR option, and the unused commitment fee is 0.375 percent. Principal payments are generally not required until the maturity date of the revolving credit facility, unless the borrowing base falls below the outstanding balance. The Restated Credit Agreement also includes the ability to add certain sustainability-linked key performance indicators to be agreed upon between us, the administrative agent and a majority of the lenders and that may impact the applicable margin and commitment fee rate. The revolving credit facility contains various restrictive covenants and compliance requirements, which include, among other things: (i) maintenance of certain financial ratios, as defined per the revolving credit facility, including a minimum current ratio of 1.0:1.0 and a maximum leverage ratio of 3.5:1.0; (ii) restrictions on the payment of cash dividends; (iii) limits on the incurrence of additional indebtedness; (iv) prohibition on the entry into commodity hedges exceeding a specified percentage of our expected production; and (v) restrictions on mergers and dispositions of assets. As of March 31, 2022, we were in compliance with all covenants related to our revolving credit facility. As of March 31, 2022 and December 31, 2021, debt issuance costs related to our revolving credit facility were $16.1 million and $16.9 million, respectively, and are included in other assets on our condensed consolidated balance sheets. Senior Notes The following table summarizes the face values, interest rates, maturity dates, semi-annual interest payment dates, and optional redemption periods related to our outstanding senior note obligations as of March 31, 2022: 2024 Senior Notes 2026 Senior Notes Outstanding principal amounts (in thousands) $ 200,000 $ 750,000 Interest rate 6.125 % 5.75 % Maturity date September 15, 2024 May 15, 2026 Interest payment dates March 15, September 15 May 15, November 15 Redemption periods (1) September 15, 2022 May 15, 2024 _____________ (1) At any time prior to the indicated dates, we have the option to redeem all or a portion of our senior notes of the applicable series at the redemption amounts specified in the respective senior note indenture plus accrued and unpaid interest to the date of redemption. On or after the indicated dates, we may redeem all or a portion of the senior notes at a redemption amount equal to 100% of the principal amount of the senior notes being redeemed plus accrued and unpaid interest to the date of redemption. Our wholly-owned subsidiary, PDC Permian, Inc., is a guarantor of our obligations under the 2024 Senior Notes and the 2026 Senior Notes (collectively, the “Senior Notes”). The Senior Notes are senior unsecured obligations and rank senior in right of payment to our future indebtedness that is expressly subordinated to the notes; equal in right of payment to our existing and future indebtedness that is not so subordinated; effectively junior in right of payment to all of our secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all existing and future indebtedness (including trade payables) incurred by our non-guarantor subsidiaries. Upon the occurrence of a “change of control”, as defined in the indentures for the Senior Notes, holders will have the right to require us to repurchase all or a portion of the notes at a price equal to 101 percent of the aggregate principal amount of the notes repurchased, together with accrued and unpaid interest to the date of purchase. In connection with certain asset sales, we may, under certain circumstances, be required to use the net cash proceeds of such asset sale to make an offer to purchase the notes at 100 percent of the principal amount, together with accrued and unpaid interest to the date of purchase. The indentures governing the Senior Notes contain covenants and restricted payment provisions that, among other things, limit our ability and the ability of our subsidiaries to incur additional indebtedness; pay dividends or make distributions on our stock; purchase or redeem stock or subordinated indebtedness; make investments; create certain liens; enter into agreements that restrict distributions or other payments by restricted subsidiaries to us; enter into transactions with affiliates; sell assets; consolidate or merge with or into other companies or transfer all or substantially of our assets; and create unrestricted subsidiaries. As of March 31, 2022, we were in compliance with all covenants and all restricted payment provisions related to our Senior Notes.

Leases (Notes)

Leases (Notes)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	NOTE 9 - LEASES We have operating leases for office space and well equipment, and finance leases for vehicles. There were no significant changes in our operating and finance leases for the three months ended March 31, 2022. We had short-term lease costs of $74.7 million and $38.9 million for the three months ended March 31, 2022 and March 31, 2021, respectively. Our short-term lease costs include amounts that are capitalized as part of the cost of assets and are recorded as properties and equipment, or recognized as expense. The following table presents the balance sheet classification of our leases as of the dates indicated: Leases Condensed Consolidated Balance Sheet Line Item March 31, 2022 December 31, 2021 (in thousands) Operating lease right-of-use assets Other assets $ 6,824 $ 7,630 Finance lease right-of-use assets Properties and equipment, net 6,721 3,483 Total right-of-use assets $ 13,545 $ 11,113 Operating lease obligation - current Other accrued expenses 5,505 5,937 Operating lease obligation - non-current Other liabilities 3,308 4,044 Finance lease obligation - current Other accrued expenses 2,069 1,260 Finance lease obligation - non-current Other liabilities 4,663 2,230 Total lease liabilities $ 15,545 $ 13,471 Weighted average remaining lease term (years) 3.0 2.8 Weighted average discount rate 4.8 % 4.8 %

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation Disclosure	The following table presents the changes in carrying amounts of the asset retirement obligations associated with our working interests in crude oil and natural gas properties for the three months ended March 31, 2022: (in thousands) Asset retirement obligations at beginning of period $ 159,672 Obligations incurred with development activities and other 1,655 Accretion expense 2,987 Revisions in estimated cash flows (284) Obligations discharged with asset retirements and divestitures (8,260) Asset retirement obligations at end of period 155,770 Current portion (1) (31,914) Long-term portion $ 123,856 _____________

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	NOTE 11 - COMMITMENTS AND CONTINGENCIES Commitments . We routinely enter into, extend or amend operating agreements in the ordinary course of business. We have long-term transportation, sales, processing and facility expansion agreements for pipeline capacity and water delivery and disposal commitments. There were no significant commitments entered into during the three months ended March 31, 2022. For details of our commitments, refer to Note 13 - Commitments and Contingencies in Item 8. Financial Statements and Supplementary Data included in our Form 10-K for the year ended December 31, 2021. Litigation and Legal Items. We are involved in various legal proceedings. We review the status of these proceedings on an ongoing basis and, from time to time, may settle or otherwise resolve these matters on terms and conditions that management believes are in our best interests. We have provided the necessary estimated accruals in the accompanying condensed consolidated balance sheets where deemed appropriate for litigation and legal related items that are ongoing and not yet concluded. Although the results cannot be known with certainty, we currently believe that the ultimate results of such proceedings will not have a material adverse effect on our financial position, results of operations or liquidity.

Common Stock Common Stock (Note

Common Stock Common Stock (Notes)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Common Stock	NOTE 12 - COMMON STOCK Stock-Based Compensation Plans 2018 Equity Incentive Plan . In May 2020, our stockholders approved an amendment to increase the number of shares of our common stock reserved for issuance pursuant to our long-term equity compensation plan for employees and non-employee directors (the “2018 Plan”) to 7,050,000 shares. As of March 31, 2022, there were 3,836,691 shares available for grant under the 2018 Plan. 2010 Long-Term Equity Compensation Plan . Our Amended and Restated 2010 Long-Term Equity Compensation Plan, approved in 2013 (the “2010 Plan”), remains outstanding and we may continue to use the 2010 Plan to grant awards. No awards may be granted under the 2010 Plan on or after June 5, 2023. As of March 31, 2022, there were 465,780 shares available for grant under the 2010 Plan. The following table provides a summary of the impact of our outstanding stock-based compensation plans on the results of operations for the periods presented: Three Months Ended March 31, 2022 2021 (in thousands) General and administrative expense $ 5,182 $ 4,828 Lease operating expense 292 192 Total stock-based compensation expense $ 5,474 $ 5,020 Restricted Stock Units The following table presents the changes in non-vested time-based RSUs to eligible employees, including executive officers, for the three months ended March 31, 2022: Shares Weighted Average Grant-Date Fair Value per Share Non-vested at beginning of period 1,165,187 $ 25.33 Granted 92,411 57.57 Vested (196,336) 28.76 Forfeited (5,730) 26.40 Non-vested at end of period 1,055,532 27.51 The weighted average grant-date fair value of restricted stock units was $57.57 and $28.75 for the three months ended March 31, 2022 and 2021, respectively. The total grant-date fair value of restricted stock units that vested for the three months ended March 31, 2022 and 2021 was $5.6 million and $6.1 million, respectively. Total compensation cost related to non-vested time-based awards and not yet recognized on our condensed consolidated statements of operations as of March 31, 2022 was $21.8 million. This cost is expected to be recognized over a weighted average period of 1.7 years. Performance Stock Units The Compensation Committee awarded a total of 102,098 market-based PSUs to our executive officers during the three months ended March 31, 2022. In addition to continuous employment, the vesting of these PSUs is contingent on a combination of absolute stock performance and our total stockholder return (“TSR”), which is essentially our stock price change, including any dividends, over a three-year period ending on December 31, 2024, as compared to the TSR of a group of peer companies over the same period. The PSUs will result in a payout between zero and 250 percent of the target PSUs awarded. The grant-date fair value was estimated using a Monte Carlo valuation model. The Monte Carlo valuation model is based on random projections of stock price paths and must be repeated numerous times to achieve a probabilistic assessment. The expected term of the awards was based on the requisite service period. The risk-free interest rate was based on the U.S. Treasury yields in effect at the time of grant and extrapolated to approximate the life of the award. The expected volatility was based on our common stock historical volatility, as well as that of our peer group. The following table summarizes the key assumptions and related information used to determine the grant-date fair value of performance stock units awarded during the periods presented: Three Months Ended March 31, 2022 2021 Expected term of award (in years) 2.9 2.9 Risk-free interest rate 1.7% 0.2% Expected volatility 86.3% 84.6% Weighted average grant date fair value per share $107.85 $54.01 The following table presents the change in non-vested market-based awards during the three months ended March 31, 2022: Shares Weighted Average Grant-Date Fair Value per Share Non-vested at beginning of period 439,229 $ 43.21 Granted 102,098 107.85 Granted for performance multiple (1) 241,183 43.10 Released (1) (241,183) 43.10 Non-vested at end of period 541,327 55.40 _____________ (1) Upon completion of the performance period for the PSUs granted in 2019 and a portion of the PSUs granted in 2020, a performance multiple of 190% was applied to each of the grants resulting in additional grants of PSUs in January 2022. Total compensation cost related to non-vested market-based awards not yet recognized on our condensed consolidated statements of operations as of March 31, 2022 was $19.5 million. This cost is expected to be recognized over a weighted average period of 1.5 years. Preferred Stock We are authorized to issue 50,000,000 shares of preferred stock, par value $0.01 per share, which may be issued in one or more series, with such rights, preferences, privileges, and restrictions as shall be fixed by our board of directors from time to time. Through March 31, 2022, no shares of preferred stock have been issued. Stock Repurchase Program In 2019, our board of directors approved a program pursuant to which we may acquire shares of our common stock from time to time. At December 31, 2021, $187.3 million of the approved $525.0 million remained available for repurchase under the stock repurchase program. In February 2022, our board of directors approved a new stock repurchase program that reset the total repurchase value to $1.25 billion, which we currently anticipate fully utilizing by December 31, 2023. The stock repurchase program does not require any specific number of shares to be acquired and can be modified or discontinued by our board of directors at any time. Repurchases under the program can be made in open markets at our discretion and in compliance with safe harbor provisions, or in privately negotiated transactions. Pursuant to the program, we repurchased 1.3 million and 0.6 million shares of outstanding common stock at a cost of $85.3 million and $22.1 million during the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, $1.19 billion remained available under the program for repurchases of our outstanding common stock. Dividends

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Tax Disclosure	NOTE 13 - INCOME TAXES We compute our quarterly tax provision using the effective tax rate method by applying the anticipated annual effective rate to our year-to-date income or loss, except for discrete items. Income tax on discrete items is computed and recorded in the period in which the specific transaction occurs. We consider whether a portion, or all, of our deferred tax assets (“DTAs”) will be realized based on a more likely than not standard of judgment. The ultimate realization of DTAs is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. At each reporting period, management considers the scheduled reversal of deferred tax liabilities, available taxes in carryback periods, tax planning strategies and projected future taxable income in making this assessment. Our oil and gas property impairments and cumulative pre-tax losses were key considerations that led us to continue to provide a valuation allowance against our DTAs as of December 31, 2021 and March 31, 2022 since we cannot conclude that it is more likely than not that our DTAs will be fully realized in future periods. Future events or new evidence which may lead us to conclude that it is more likely than not that our DTAs will be realized include, but are not limited to, cumulative historical pre-tax earnings, sustained or continued improvements in oil prices, and taxable events that could result from one or more transactions. Given recent improvements in oil and gas prices and improvements in our current earnings, we believe there is a reasonable possibility that, if oil and natural gas prices remain similar to March 31, 2022 pricing levels, sufficient positive evidence may become available within the next 12 months to allow us to reach a conclusion that all or a significant portion of the valuation allowance will no longer be needed. Release of the valuation allowance would result in the recognition of certain deferred tax assets and a decrease to income tax expense in the period the release is recorded. However, the exact timing and amount of the valuation allowance release are subject to change based on the level of profitability that we actually achieve. The effective income tax rates for the three months ended March 31, 2022 and 2021 were 3.9 percent and 0.6 percent provision on the respective pre-tax losses. The effective tax rates differ from the amount that would be provided by applying the statutory U.S. federal income tax rate of 21 percent to the pre-tax loss due to the valuation allowance against our deferred income tax assets. As of March 31, 2022, there is no liability for unrecognized income tax benefits. As of the date of this report, we are current with our income tax filings in all applicable state jurisdictions and are not currently under any state income tax examinations. The IRS has accepted our 2020 federal income tax return with no tax adjustments. We continue to voluntarily participate in the IRS CAP program for the review of our 2021 and 2022 tax years. Participation in the IRS CAP Program has enabled us to have minimal uncertain tax benefits associated with our federal tax return filings.

Earnings per share

Earnings per share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 14 - EARNINGS PER SHARE Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding for the period. Diluted earnings per share is similarly computed, except that the denominator includes the effect, using the treasury stock method, of unvested stock-based employee awards and shares held pursuant to our non-employee director deferred compensation plan, if including such potential shares of common stock is dilutive. The following table presents our weighted average basic and diluted shares outstanding for the periods presented: Three Months Ended March 31, 2022 2021 (in thousands) Weighted average common shares outstanding - basic 96,279 99,702 Weighted average common shares and equivalents outstanding - diluted 96,279 99,702 We reported a net loss for the three months ended March 31, 2022 and 2021. As a result, our basic and diluted weighted average common shares outstanding were the same for those periods because the effect of the common share equivalents was anti-dilutive. The following table presents the weighted average common share equivalents excluded from the calculation of diluted earnings per share due to their anti-dilutive effect for the periods presented: Three Months Ended March 31, 2022 2021 (in thousands) Weighted average common share equivalents excluded from diluted earnings per share due to their anti-dilutive effect: RSUs and PSUs 2,281 1,748 Other stock-based awards 143 212 Total anti-dilutive common share equivalents 2,424 1,960

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	Three Months Ended March 31, 2022 2021 (in thousands) Supplemental cash flow information: Cash payments (receipts) for: Interest, net of capitalized interest $ 3,825 $ 9,043 Income taxes (233) (1,388) Non-cash investing and financing activities: Change in accounts payable related to capital expenditures $ 33,135 $ 15,393 Change in asset retirement obligations, with a corresponding change to crude oil and natural gas properties, net of disposals 767 206 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,740 $ 2,224 Operating cash flows from finance leases 49 20 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 444 $ — Finance leases 3,660 917

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Consolidation, Policy	The accompanying unaudited condensed consolidated financial statements include the accounts of PDC and our wholly-owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation
Basis of Accounting, Policy	In our opinion, the accompanying condensed consolidated financial statements contain all adjustments, consisting of normal recurring adjustments necessary for a fair statement of the results of interim periods presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, pursuant to such rules and regulations, certain notes and other financial information included in audited financial statements have been condensed or omitted. The December 31, 2021 condensed consolidated balance sheet data was derived from audited statements, but does not include all disclosures required by U.S. GAAP. The information presented in this Quarterly Report on Form 10-Q should be read in conjunction with our audited consolidated financial statements and notes thereto included in our 2021 Form 10-K. Our results of operations and cash flows for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for the full year or any other future period
Earnings Per Share, Policy	Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding for the period. Diluted earnings per share is similarly computed, except that the denominator includes the effect, using the treasury stock method, of unvested stock-based employee awards and shares held pursuant to our non-employee director deferred compensation plan, if including such potential shares of common stock is dilutive.

Asset Retirement Obligations As

Asset Retirement Obligations Asset Retirement Obligations (Policies)	3 Months Ended
	Mar. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation [Policy Text Block]	Our estimated asset retirement obligations liability is based on historical experience in plugging and abandoning wells, estimated economic lives and estimated plugging, abandonment and surface reclamation costs considering federal and state regulatory requirements in effect at the time that the obligation is incurred. The liability is discounted using the credit-adjusted risk-free rate estimated at the time the liability is incurred or revised. To the extent future revisions to these assumptions impact the present value of the existing asset retirement obligations liability, a corresponding adjustment is made to the properties and equipment balance. Changes in the liability due to the passage of time are recognized as an increase in the carrying amount of the liability and as accretion expense.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	Disaggregated Revenue. The following table presents crude oil, natural gas and NGLs sales disaggregated by commodity and operating region for the periods presented: Three Months Ended March 31, Revenue by Commodity and Operating Region 2022 2021 Percent Change (in thousands) Crude oil Wattenberg Field $ 451,911 $ 235,963 92 % Delaware Basin 97,838 37,688 160 % Total 549,749 273,651 101 % Natural gas Wattenberg Field 143,699 97,022 48 % Delaware Basin 19,425 8,624 125 % Total 163,124 105,646 54 % NGLs Wattenberg Field 138,875 77,777 79 % Delaware Basin 30,630 11,045 177 % Total 169,505 88,822 91 % Crude oil, natural gas and NGLs Wattenberg Field 734,485 410,762 79 % Delaware Basin 147,893 57,357 158 % Total $ 882,378 $ 468,119 88 %
Contract with Customer, Asset and Liability	The following table presents the changes in carrying amounts of the contract assets for the three months ended March 31, 2022: (in thousands) Beginning balance $ 15,472 Additions (Net reduction to additions previously recognized) (5,112) Amortized as a reduction to crude oil, natural gas and NGLs sales (328) Ending balance $ 10,032

Fair Value Measurements and D_2

Fair Value Measurements and Disclosures (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	Long-term Debt. The portion of our long-term debt related to our revolving credit facility approximates fair value, as the applicable interest rates are variable and reflective of market rates. We have not elected to account for the portion of our debt related to our senior notes under the fair value option; however, we have determined an estimate of the fair values based on measurements of trading activity and broker or dealer quotes, which are published market prices, and therefore are Level 2 inputs. The table below presents these estimates of the fair value of the portion of our long-term debt related to our senior notes as of the dates indicated: March 31, 2022 December 31, 2021 Nominal Interest Estimated Fair Value Percent of Par Estimated Fair Value Percent of Par (in millions) (in millions) Senior Notes: 2024 Senior Notes 6.125 % $ 202.6 101.3 % $ 202.8 101.4 % 2026 Senior Notes 5.75 % 762.0 101.6 % 775.5 103.4 %
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Our crude oil and natural gas fixed-price exchanges and basis exchanges are included in Level 2. Our collars are included in Level 3. The following table presents, for each applicable level within the fair value hierarchy, our derivative assets and liabilities, including both current and non-current portions, measured at fair value on a recurring basis as of the dates indicated: March 31, 2022 December 31, 2021 Condensed Consolidated Balance Sheet Line Item Significant Other Significant Total Significant Other Significant Total (in thousands) Derivative assets Current Fair value of derivatives $ 6,795 $ 6,363 $ 13,158 $ — $ 17,909 $ 17,909 Non-current Fair value of derivatives 4,680 15,276 19,956 605 14,572 15,177 Total $ 11,475 $ 21,639 $ 33,114 $ 605 $ 32,481 $ 33,086 Derivative liabilities Current Fair value of derivatives $ (389,334) $ (183,302) $ (572,636) $ (230,695) $ (74,175) $ (304,870) Non-current Fair value of derivatives (169,736) (64,548) (234,284) (74,715) (20,846) (95,561) Total $ (559,070) $ (247,850) $ (806,920) $ (305,410) $ (95,021) $ (400,431)
Fair Value Assets and Liabilities Unobservable Input Reconciliation	The following table presents a reconciliation of our Level 3 assets and liabilities measured at fair value for the periods presented: Three Months Ended March 31, 2022 2021 (in thousands) Fair value of Level 3 instruments, net asset (liability) beginning of period $ (62,540) $ (8,427) Changes in fair value included on condensed consolidated statements of operations line item: Commodity price risk management gain (loss), net (209,771) (33,389) Settlements included on condensed consolidated statement of operations line items: Commodity price risk management gain (loss), net 46,100 5,582 Fair value of Level 3 instruments, net asset (liability) end of period $ (226,211) $ (36,234) Net change in fair value of Level 3 unsettled derivatives included on condensed consolidated statements of operations line item: Commodity price risk management gain (loss), net $ (159,118) $ (30,863)

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	The following table presents the impact of our derivative instruments on our condensed consolidated statements of operations for the periods presented: Three Months Ended March 31, Condensed Consolidated Statement of Operations Line Item 2022 2021 (in thousands) Commodity price risk management gain (loss), net Net settlements $ (161,594) $ (30,650) Net change in fair value of unsettled derivatives (406,461) (150,606) Total commodity price risk management gain (loss), net $ (568,055) $ (181,256)
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	As of March 31, 2022, we had the following outstanding derivative contracts. When aggregating multiple contracts, the weighted average contract price is presented: Collars Fixed-Price Swaps Commodity/ Index/ Quantity (Crude oil - MBbls Natural Gas - BBtu) Weighted Average Quantity (Crude Oil - MBbls Gas and Basis- BBtu) Weighted Fair Value March 31, 2022 (in thousands) Floors Ceilings Crude Oil NYMEX 2022 4,104 $ 53.18 $ 67.33 5,028 $ 46.14 $ (349,549) 2023 4,833 58.13 76.68 6,510 60.13 (206,083) 2024 225 55.00 75.12 6,126 70.59 (39,312) 2025 — — — 1,200 73.00 (398) Total Crude Oil 9,162 18,864 (595,342) Natural Gas NYMEX 2022 26,595 3.14 4.78 25,200 2.70 (117,951) 2023 15,060 3.07 4.36 34,742 3.01 (58,102) 2024 — — — 26,160 3.49 (5,337) 41,655 86,102 (181,390) CIG 2023 — — — 8,760 3.39 (6,185) 2025 — — — 4,800 3.10 (1,425) — 13,560 (7,610) Total Natural Gas 41,655 99,662 (189,000) Basis Protection - Natural Gas CIG 2022 51,795 (0.25) 9,540 2023 49,802 (0.30) 1,711 2024 26,160 (0.39) (715) Total Basis Protection - Natural Gas 127,757 10,536 Commodity Derivatives Fair Value $ (773,806) Subsequent to March 31, 2022, we entered into the following commodity derivative positions covering our crude oil and natural gas production: Collars Fixed-Price Swaps Commodity/ Index/ Quantity (Crude oil - MBbls Natural Gas - BBtu) Weighted-Average Quantity (Crude oil - MBbls Natural Gas - BBtu) Weighted- Floors Ceilings Crude Oil NYMEX 2023 600 $ 75.00 $ 110.00 804 $ 86.00 Natural Gas NYMEX 2023 900 5.00 14.40 — — Basis Protection CIG 2022 — — — 13,300 (0.31) 2023 — — — 4,800 (0.28)
Derivatives Not Designated as Hedging Instruments [Table Text Block]	The following table reflects the impact of netting agreements on gross derivative assets and liabilities as of March 31, 2022: Total Gross Amount Presented on the Balance Sheet Effect of Master Netting Agreements Total Net Amount (in thousands) Derivative assets: Derivative instruments, at fair value $ 33,114 $ (33,114) $ — Derivative liabilities: Derivative instruments, at fair value $ 806,920 $ (33,114) $ 773,806

Properties and Equipment (Table

Properties and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Oil and Gas Property [Abstract]
Property, Plant and Equipment	The following table presents the components of properties and equipment, net of accumulated depreciation, depletion and amortization (“DD&A”) as of the dates indicated: March 31, 2022 December 31, 2021 (in thousands) Properties and equipment, net: Crude oil and natural gas properties Proved $ 8,511,308 $ 8,310,018 Unproved 306,210 306,181 Total crude oil and natural gas properties 8,817,518 8,616,199 Equipment and other 66,917 63,099 Land and buildings 19,928 19,928 Construction in progress 387,212 371,968 Properties and equipment, at cost 9,291,575 9,071,194 Accumulated DD&A (4,405,311) (4,256,329) Properties and equipment, net $ 4,886,264 $ 4,814,865
Schedule of Aging of Capitalized Exploratory Well Costs [Table Text Block]	The following table presents the capitalized exploratory well cost pending determination of proved reserves and included in properties and equipment for the periods presented: Three Months Ended March 31, 2022 Year Ended December 31, 2021 (in thousands, except for number of wells) Beginning balance $ — $ 7,459 Additions to capitalized exploratory well costs pending the determination of proved reserves 3,428 5,902 Reclassifications to proved properties — (13,361) Ending balance $ 3,428 $ — Number of wells pending determination at period-end 1 —

Other Accrued Expenses and Ot_2

Other Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Accrued Liabilities and Other Liabilities [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	The following table presents the components of other accrued expenses as of the dates indicated: March 31, 2022 December 31, 2021 (in thousands) Employee benefits $ 12,935 $ 29,319 Asset retirement obligations 31,914 32,146 Environmental expenses 12,266 11,942 Operating and finance leases 7,574 7,197 Other 12,441 10,805 Other accrued expenses $ 77,130 $ 91,409
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Noncurrent [Text Block]	The following table presents the components of other liabilities as of the dates indicated: March 31, 2022 December 31, 2021 (in thousands) Deferred midstream gathering credits $ 157,526 $ 159,788 Deferred oil gathering credits 15,578 16,080 Production taxes 178,722 131,865 Operating and finance leases 7,971 6,274 Other 846 762 Other liabilities $ 360,643 $ 314,769
Schedule of Other Assets and Other Liabilities	Other Liabilities. The following table presents the components of other liabilities as of the dates indicated: March 31, 2022 December 31, 2021 (in thousands) Deferred midstream gathering credits $ 157,526 $ 159,788 Deferred oil gathering credits 15,578 16,080 Production taxes 178,722 131,865 Operating and finance leases 7,971 6,274 Other 846 762 Other liabilities $ 360,643 $ 314,769
Deferred Midstream Gathering Credits	The following table presents the amortization charges related to our deferred credits recognized on the condensed consolidated statements of operations for the periods indicated: Three Months Ended March 31, 2022 2021 (in thousands) Transportation, gathering and processing expense $ 1,956 $ 1,521 Lease operating expense 531 438
Accounts Receivable, Allowance for Credit Loss	Accounts Receivable. The following table presents the components of accounts receivable, net of allowance for doubtful accounts, as of the dates indicated: March 31, 2022 December 31, 2021 (in thousands) Crude oil, natural gas and NGLs sales $ 523,029 $ 368,991 Joint interest billings 16,922 24,860 Other 550 10,809 Allowance for doubtful accounts (3,445) (6,055) Accounts receivable, net $ 537,056 $ 398,605

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt, net of unamortized discounts, premiums, and debt issuance costs totaling $7.4 million and $7.9 million as of March 31, 2022 and December 31, 2021, respectively, consists of the following: March 31, 2022 December 31, 2021 (in thousands) Revolving credit facility due November 2026 $ — $ — 6.125% Senior Notes due September 2024 198,796 198,674 5.75% Senior Notes due May 2026 743,769 743,410 Total debt, net of unamortized discount, premium and debt issuance costs $ 942,565 $ 942,084
Schedule of Accounts, Notes, Loans and Financing Receivable	The following table summarizes the face values, interest rates, maturity dates, semi-annual interest payment dates, and optional redemption periods related to our outstanding senior note obligations as of March 31, 2022: 2024 Senior Notes 2026 Senior Notes Outstanding principal amounts (in thousands) $ 200,000 $ 750,000 Interest rate 6.125 % 5.75 % Maturity date September 15, 2024 May 15, 2026 Interest payment dates March 15, September 15 May 15, November 15 Redemption periods (1) September 15, 2022 May 15, 2024 _____________ (1) At any time prior to the indicated dates, we have the option to redeem all or a portion of our senior notes of the applicable series at the redemption amounts specified in the respective senior note indenture plus accrued and unpaid interest to the date of redemption. On or after the indicated dates, we may redeem all or a portion of the senior notes at a redemption amount equal to 100% of the principal amount of the senior notes being redeemed plus accrued and unpaid interest to the date of redemption.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Operating and Financing Leases Financial Statement Location [Table Text Block]	The following table presents the balance sheet classification of our leases as of the dates indicated: Leases Condensed Consolidated Balance Sheet Line Item March 31, 2022 December 31, 2021 (in thousands) Operating lease right-of-use assets Other assets $ 6,824 $ 7,630 Finance lease right-of-use assets Properties and equipment, net 6,721 3,483 Total right-of-use assets $ 13,545 $ 11,113 Operating lease obligation - current Other accrued expenses 5,505 5,937 Operating lease obligation - non-current Other liabilities 3,308 4,044 Finance lease obligation - current Other accrued expenses 2,069 1,260 Finance lease obligation - non-current Other liabilities 4,663 2,230 Total lease liabilities $ 15,545 $ 13,471 Weighted average remaining lease term (years) 3.0 2.8 Weighted average discount rate 4.8 % 4.8 %

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Change in Asset Retirement Obligation	NOTE 10 - ASSET RETIREMENT OBLIGATIONS The following table presents the changes in carrying amounts of the asset retirement obligations associated with our working interests in crude oil and natural gas properties for the three months ended March 31, 2022: (in thousands) Asset retirement obligations at beginning of period $ 159,672 Obligations incurred with development activities and other 1,655 Accretion expense 2,987 Revisions in estimated cash flows (284) Obligations discharged with asset retirements and divestitures (8,260) Asset retirement obligations at end of period 155,770 Current portion (1) (31,914) Long-term portion $ 123,856 _____________

Common Stock Common Stock (Tabl

Common Stock Common Stock (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Share-based Payment Arrangement, Cost by Plan [Table Text Block]	The following table provides a summary of the impact of our outstanding stock-based compensation plans on the results of operations for the periods presented: Three Months Ended March 31, 2022 2021 (in thousands) General and administrative expense $ 5,182 $ 4,828 Lease operating expense 292 192 Total stock-based compensation expense $ 5,474 $ 5,020
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	The following table presents the changes in non-vested time-based RSUs to eligible employees, including executive officers, for the three months ended March 31, 2022: Shares Weighted Average Grant-Date Fair Value per Share Non-vested at beginning of period 1,165,187 $ 25.33 Granted 92,411 57.57 Vested (196,336) 28.76 Forfeited (5,730) 26.40 Non-vested at end of period 1,055,532 27.51
Restricted Stock Awards, Market-Based, Valuation assumptions [Table Text Block]	The following table summarizes the key assumptions and related information used to determine the grant-date fair value of performance stock units awarded during the periods presented: Three Months Ended March 31, 2022 2021 Expected term of award (in years) 2.9 2.9 Risk-free interest rate 1.7% 0.2% Expected volatility 86.3% 84.6% Weighted average grant date fair value per share $107.85 $54.01
Schedule of Nonvested Performance-based Units Activity [Table Text Block]	The following table presents the change in non-vested market-based awards during the three months ended March 31, 2022: Shares Weighted Average Grant-Date Fair Value per Share Non-vested at beginning of period 439,229 $ 43.21 Granted 102,098 107.85 Granted for performance multiple (1) 241,183 43.10 Released (1) (241,183) 43.10 Non-vested at end of period 541,327 55.40 _____________

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	The following table presents our weighted average basic and diluted shares outstanding for the periods presented: Three Months Ended March 31, 2022 2021 (in thousands) Weighted average common shares outstanding - basic 96,279 99,702 Weighted average common shares and equivalents outstanding - diluted 96,279 99,702
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the weighted average common share equivalents excluded from the calculation of diluted earnings per share due to their anti-dilutive effect for the periods presented: Three Months Ended March 31, 2022 2021 (in thousands) Weighted average common share equivalents excluded from diluted earnings per share due to their anti-dilutive effect: RSUs and PSUs 2,281 1,748 Other stock-based awards 143 212 Total anti-dilutive common share equivalents 2,424 1,960

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Three Months Ended March 31, 2022 2021 (in thousands) Supplemental cash flow information: Cash payments (receipts) for: Interest, net of capitalized interest $ 3,825 $ 9,043 Income taxes (233) (1,388) Non-cash investing and financing activities: Change in accounts payable related to capital expenditures $ 33,135 $ 15,393 Change in asset retirement obligations, with a corresponding change to crude oil and natural gas properties, net of disposals 767 206 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,740 $ 2,224 Operating cash flows from finance leases 49 20 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 444 $ — Finance leases 3,660 917

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation Additional Information (Details)	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Oil and gas producing wells, gross	3,450

Business Combination (Details)

Business Combination (Details) - USD ($) $ in Thousands, shares in Millions	Feb. 26, 2022	Mar. 31, 2022	Feb. 17, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Jan. 14, 2020
Business Acquisition [Line Items]
Stock Repurchase Program, Authorized Amount			$ 1,250,000				$ 525,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		$ 171,157		$ 33,829	$ 59,067	$ 2,623
Restricted Cash and Cash Equivalents		$ 50,000
Great Western Petroleum, LLC
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 1,400,000
Business Combination, Consideration Transferred, Equity Interest Issued, Shares	4
Great Western Petroleum, LLC | Subsequent Event [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 543,000

Revenue Recognition Revenue by

Revenue Recognition Revenue by Commodity and Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer, Excluding Assessed Tax	$ 882,378	$ 468,119
Revenue year over year percentage change [Line Items]	88.00%
Delaware Basin
Revenue from Contract with Customer, Excluding Assessed Tax	$ 147,893	57,357
Revenue year over year percentage change [Line Items]	158.00%
Wattenberg Field
Revenue from Contract with Customer, Excluding Assessed Tax	$ 734,485	410,762
Revenue year over year percentage change [Line Items]	79.00%
Crude Oil [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 549,749	273,651
Revenue year over year percentage change [Line Items]	101.00%
Crude Oil [Member] | Wattenberg Field
Revenue from Contract with Customer, Excluding Assessed Tax	$ 451,911	235,963
Revenue year over year percentage change [Line Items]	92.00%
Crude Oil [Member] | Delaware Basin
Revenue from Contract with Customer, Excluding Assessed Tax	$ 97,838	37,688
Revenue year over year percentage change [Line Items]	160.00%
Natural Gas [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 163,124	105,646
Revenue year over year percentage change [Line Items]	54.00%
Natural Gas [Member] | Wattenberg Field
Revenue from Contract with Customer, Excluding Assessed Tax	$ 143,699	97,022
Revenue year over year percentage change [Line Items]	48.00%
Natural Gas [Member] | Delaware Basin
Revenue from Contract with Customer, Excluding Assessed Tax	$ 19,425	8,624
Revenue year over year percentage change [Line Items]	125.00%
Natural Gas Liquids [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 169,505	88,822
Revenue year over year percentage change [Line Items]	91.00%
Natural Gas Liquids [Member] | Wattenberg Field
Revenue from Contract with Customer, Excluding Assessed Tax	$ 138,875	77,777
Revenue year over year percentage change [Line Items]	79.00%
Natural Gas Liquids [Member] | Delaware Basin
Revenue from Contract with Customer, Excluding Assessed Tax	$ 30,630	$ 11,045
Revenue year over year percentage change [Line Items]	177.00%

Revenue Recognition Capitalized

Revenue Recognition Capitalized Contract Costs (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Revenue Recognition and Deferred Revenue [Abstract]
Capitalized Contract Cost, Net	$ 15,472
Capitalized Contract Cost, Gross	(5,112)
Capitalized Contract Cost, Amortization	(328)
Capitalized Contract Cost, Net	$ 10,032

Fair Value Measurements and D_3

Fair Value Measurements and Disclosures (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets and Liabilities at Fair Value
Derivative liability, gross	$ 806,920
Fair Value
Assets and Liabilities at Fair Value
Total assets	33,114	$ 33,086
Derivative liability, gross	(806,920)	(400,431)
Fair Value | Current Assets
Assets and Liabilities at Fair Value
Derivative Asset, Not Subject to Master Netting Arrangement	13,158	17,909
Fair Value | Non Current Assets
Assets and Liabilities at Fair Value
Total assets	19,956	15,177
Fair Value | Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	(572,636)	(304,870)
Fair Value | Non Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	(234,284)	(95,561)
Fair Value | Significant Other Observable Inputs (Level 2)
Assets and Liabilities at Fair Value
Total assets	11,475	605
Derivative liability, gross	(559,070)	(305,410)
Fair Value | Significant Other Observable Inputs (Level 2) | Current Assets
Assets and Liabilities at Fair Value
Derivative Asset, Not Subject to Master Netting Arrangement	6,795	0
Fair Value | Significant Other Observable Inputs (Level 2) | Non Current Assets
Assets and Liabilities at Fair Value
Total assets	4,680	605
Fair Value | Significant Other Observable Inputs (Level 2) | Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	(389,334)	(230,695)
Fair Value | Significant Other Observable Inputs (Level 2) | Non Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	(169,736)	(74,715)
Fair Value | Significant Unobservable Inputs (Level 3)
Assets and Liabilities at Fair Value
Total assets	21,639	32,481
Derivative liability, gross	(247,850)	(95,021)
Fair Value | Significant Unobservable Inputs (Level 3) | Current Assets
Assets and Liabilities at Fair Value
Derivative Asset, Not Subject to Master Netting Arrangement	6,363	17,909
Fair Value | Significant Unobservable Inputs (Level 3) | Non Current Assets
Assets and Liabilities at Fair Value
Total assets	15,276	14,572
Fair Value | Significant Unobservable Inputs (Level 3) | Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	(183,302)	(74,175)
Fair Value | Significant Unobservable Inputs (Level 3) | Non Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	$ (64,548)	$ (20,846)

Reconciliation of Level 3 Fair

Reconciliation of Level 3 Fair Value Measurements (Details) - Derivative Financial Instrument Net Assets - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Roll-forward of Level 3 Assets
Fair Value, net assets (liabilities), beginning of period	$ (62,540)	$ (8,427)
Fair Value, net assets (liabilities), end of period	(226,211)	(36,234)
Commodity Price Risk Management (loss), net
Roll-forward of Level 3 Assets
Changes in fair value included in statement of operations line item:	(209,771)	(33,389)
Settlements included in statement of operations line items:	46,100	5,582
Net change in fair value of unsettled derivatives included in statement of operations line item	$ (159,118)	$ (30,863)

Fair Value Measurements and D_4

Fair Value Measurements and Disclosures of Senior Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 33,114
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	(33,114)
Derivative liability, gross	806,920
6.125% Senior Notes due 2024 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes Payable, Fair Value Disclosure	$ 202,600	$ 202,800
Senior Notes Percent of Par	101.30%	101.40%
5.75% Senior Notes due 2026 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes Payable, Fair Value Disclosure	$ 762,000	$ 775,500
Senior Notes Percent of Par	101.60%	103.40%

Impact of Derivative Instrument

Impact of Derivative Instruments on Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (161,594)	$ (30,650)
Net change in fair value of unsettled derivatives	(406,461)	(150,606)
Commodity price risk management gain (loss), net	(568,055)	(181,256)
Commodity Price Risk Management (loss), net
Derivative [Line Items]
Commodity price risk management gain (loss), net	$ (568,055)	$ (181,256)

Derivative Financial Instrume_3

Derivative Financial Instruments Outstanding Derivative Contracts (Details) MMBTU in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		7 Months Ended
	Mar. 31, 2023MMBTU$ / Unit	Mar. 31, 2022USD ($)MMBTU$ / UnitMBbls	Dec. 31, 2023MMBTU$ / Unit	Jun. 30, 2023MMBTU	Dec. 31, 2022MMBTU$ / Unit
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ (773,806)
Natural Gas [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		41,655
Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ (189,000)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		99,662
Crude Oil [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls		9,162
Crude Oil [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls		18,864
Derivative, Fair Value, Net | $		$ (595,342)
2022 | Crude Oil [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls		4,104,000
2022 | Crude Oil [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls		5,028,000
Derivative, Fair Value, Net | $		$ (349,549)
2023 | Crude Oil [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls		4,833,000
2023 | Crude Oil [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls		6,510,000
Derivative, Fair Value, Net | $		$ (206,083)
2024 | Crude Oil [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls		225,000
2024 | Crude Oil [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls		6,126,000
Derivative, Fair Value, Net | $		$ (39,312)
2025 | Crude Oil [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls		0
2025 | Crude Oil [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls		1,200,000
Derivative, Fair Value, Net | $		$ (398)
Natural Gas [Member] | 2022 | Fixed Price Swaps | Basis Protection - CIG [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		(0.25)
Natural Gas [Member] | 2023 | Fixed Price Swaps | CIG [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		3.39
Natural Gas [Member] | 2023 | Fixed Price Swaps | Basis Protection - CIG [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		(0.30)
Natural Gas [Member] | 2024 | Fixed Price Swaps | Basis Protection - CIG [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		(0.39)
Natural Gas [Member] | 2025 | Fixed Price Swaps | CIG [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		3.10
Crude Oil [Member] | 2022 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price		53.18
Derivative, Cap Price		67.33
Crude Oil [Member] | 2022 | Fixed Price Swaps | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		46.14
Crude Oil [Member] | 2023 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price		58.13
Derivative, Cap Price		76.68
Crude Oil [Member] | 2023 | Fixed Price Swaps | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		60.13
Crude Oil [Member] | 2024 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price		55
Derivative, Cap Price		75.12
Crude Oil [Member] | 2024 | Fixed Price Swaps | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		70.59
Crude Oil [Member] | 2025 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price		0
Derivative, Cap Price		0
Crude Oil [Member] | 2025 | Fixed Price Swaps | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		73
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		41,655
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ (181,390)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		86,102
CME SWAPS MARKETS (NYMEX) [Member] | 2023 | Natural Gas [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		15,060
CME SWAPS MARKETS (NYMEX) [Member] | 2023 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ (58,102)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		34,742
CME SWAPS MARKETS (NYMEX) [Member] | 2024 | Natural Gas [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		0
CME SWAPS MARKETS (NYMEX) [Member] | 2024 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ (5,337)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		26,160
CME SWAPS MARKETS (NYMEX) [Member] | Tax Year 2022 | Natural Gas [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		26,595
CME SWAPS MARKETS (NYMEX) [Member] | Tax Year 2022 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ (117,951)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		25,200
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | 2023 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price		3.07
Derivative, Cap Price		4.36
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | 2023 | Fixed Price Swaps | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		3.01
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | 2024 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price		0
Derivative, Cap Price		0
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | 2024 | Fixed Price Swaps | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		3.49
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | Tax Year 2022 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price		3.14
Derivative, Cap Price		4.78
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | Tax Year 2022 | Fixed Price Swaps | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price		2.70
Basis Protection - CIG [Member] | 2022 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ 9,540
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		51,795
Basis Protection - CIG [Member] | 2023 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ 1,711
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		49,802
Basis Protection - CIG [Member] | 2024 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ (715)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		26,160
Basis Protection Contracts Related to Natural Gas Marketing [Member] | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ 10,536
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		127,757
CIG [Member] | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ (7,610)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		13,560
CIG [Member] | 2023 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ (6,185)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		8,760
CIG [Member] | 2025 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $		$ (1,425)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU		4,800
Subsequent Event [Member] | CIG [Member] | Natural Gas [Member] | 2022
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price					(0.31)
Subsequent Event [Member] | CIG [Member] | Natural Gas [Member] | 2023
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price	(0.28)
Subsequent Event [Member] | CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | 2023
Derivative [Line Items]
Derivative, Floor Price			5
Derivative, Cap Price			14.40
Subsequent Event [Member] | CME SWAPS MARKETS (NYMEX) [Member] | Crude Oil [Member] | 2023
Derivative [Line Items]
Derivative, Floor Price			75
Derivative, Cap Price			110
Subsequent Event [Member] | Crude oil - NYMEX | Crude Oil [Member] | 2023
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price			86
Subsequent Event [Member] | Basis Protection - CIG [Member] | 2022 | Natural Gas [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU					13,300
Subsequent Event [Member] | Basis Protection - CIG [Member] | 2023 | Natural Gas [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	4,800
Subsequent Event [Member] | Commodity Option [Member] | 2023 | Natural Gas [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	900
Subsequent Event [Member] | Commodity Option [Member] | 2023 | Crude Oil [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU				600
Subsequent Event [Member] | Crude oil - NYMEX | 2023 | Crude Oil [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU			804

Derivative Financial Instrume_4

Derivative Financial Instruments Impact of Netting Agreements (Details) $ in Thousands	Mar. 31, 2022USD ($)
Derivative Asset:
Derivative Asset, Fair Value, Gross Asset	$ 33,114
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	(33,114)
Derivative asset, net	0
Derivative Liability:
Derivative liability, gross	806,920
Effect of master netting agreements	(33,114)
Derivative liability, net	$ 773,806

Properties and Equipment (Detai

Properties and Equipment (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)Wells	Mar. 31, 2021USD ($)	Dec. 31, 2022USD ($)	Dec. 31, 2021USD ($)Wells	Dec. 31, 2020USD ($)
Property, Plant and Equipment [Line Items]
Document Period End Date	Mar. 31, 2022
Reclassification to Well, Facilities, and Equipment Based on Determination of Proved Reserves	$ 0		$ (13,361)
Proved Natural Gas and Crude Oil Properties	8,511,308			$ 8,310,018
Unproved Natural Gas and Crude Oil Properties	306,210			306,181
Total Natural Gas and Crude Oil Properties	8,817,518			8,616,199
Equipment and other	66,917			63,099
Land and Buildings	19,928			19,928
Construction in Progress	387,212			371,968
Properties and equipment, at cost	9,291,575			9,071,194
Accumulated DD&A	(4,405,311)			(4,256,329)
Property, Plant and Equipment, Net	4,886,264			4,814,865
Capitalized Exploratory Well Cost, Additions Pending Determination of Proved Reserves	3,428			5,902
Capitalized Exploratory Well Costs	$ 3,428			$ 0	$ 7,459
Wells to be completed | Wells	1			0
Capitalized Exploratory Well Costs that Have Been Capitalized for Period Greater than One Year	$ 0
Results of Operations, Impairment of Oil and Gas Properties	$ 0	$ 0

Impairment of Natural Gas and C

Impairment of Natural Gas and Crude Oil Properties (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Impairment of natural gas and crude oil properties [Line Items]
Results of Operations, Impairment of Oil and Gas Properties	$ 0	$ 0

Other Accrued Expense (Details)

Other Accrued Expense (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Schedule of Other Accrued Expense [Line Items]
Asset Retirement Obligation, Current	$ 31,914
Other accrued expenses	77,130	$ 91,409
Current Liabilities
Schedule of Other Accrued Expense [Line Items]
Accrued Employee Benefits, Current	12,935	29,319
Asset Retirement Obligation, Current	31,914	32,146
Accrued Environmental Loss Contingencies, Current	12,266	11,942
Operating and Finance Lease Liability, Current	7,574	7,197
Other Accrued Liabilities	12,441	10,805
Other accrued expenses	$ 77,130	$ 91,409

Other Liabilities (Details)

Other Liabilities (Details) - Non Current Liabilities - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Other Liabilities [Line Items]
Production Tax Liability	$ 178,722	$ 131,865
Deferred oil gathering credits	15,578	16,080
Deferred Midstream gathering credits	157,526	159,788
Operating and Finance Lease Liability, Noncurrent	7,971	6,274
Other Accrued Liabilities	846	762
Other Accrued Liabilities, Noncurrent	$ 360,643	$ 314,769

Other Accrued Expenses Deferred

Other Accrued Expenses Deferred Midstream Gathering Credits (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Midstream Gas Gathering
Deferred Midstream Gathering Credits [Line Items]
Amortization of Other Deferred Charges	$ 1,956	$ 1,521
Midstream Water Gathering
Deferred Midstream Gathering Credits [Line Items]
Amortization of Other Deferred Charges	$ 531	$ 438

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounts receivable [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current	$ 537,056	$ 398,605
Accounts Receivable, Allowance for Credit Loss, Current	(3,445)	(6,055)
joint interest billing
Accounts receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	16,922	24,860
Revenue, Segment Benchmark
Accounts receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	523,029	368,991
Other Accounts Receivable
Accounts receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	$ 550	$ 10,809

Schedule of Long-Term Debt (Det

Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument
Unamortized Debt Issuance Expense	$ 7,400	$ 7,900
Debt, Long-term and Short-term, Combined Amount	942,565	942,084
Long-term debt	942,565	942,084
6.125% Senior Notes due 2024 [Member]
Debt Instrument
Senior Notes, Noncurrent	198,796	198,674
Principal amount	200,000
5.75% Senior Notes due 2026 [Member]
Debt Instrument
Senior Notes, Noncurrent	743,769	743,410
Revolving Credit Facility
Debt Instrument
Revolving credit facility	0	$ 0
5.75% Senior Notes due 2026 [Member]
Debt Instrument
Principal amount	$ 750,000

Long-Term Debt Additional Infor

Long-Term Debt Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Apr. 28, 2022	Dec. 31, 2021	Nov. 02, 2021
Debt Instrument
Line of Credit Facility, Remaining Borrowing Capacity	$ 1,480,000,000
Letters of Credit Outstanding, Amount	$ 19,900,000
Line Of Credit Facility Initial Borrowing Capacity				$ 2,400,000,000
Subsequent Event [Member]
Debt Instrument
Line Of Credit Facility Initial Borrowing Capacity		$ 3,000,000,000
6.125% Senior Notes due 2024 [Member]
Debt Instrument
Debt Instrument, Interest Rate, Stated Percentage	6.125%
Debt Instrument, Maturity Date	Sep. 15, 2024
Debt Instrument, Frequency of Periodic Payment	March 15, September 15
Debt Instrument, Redemption Period, End Date	Sep. 15, 2022
5.75% Senior Notes due 2026 [Member]
Debt Instrument
Debt Instrument, Interest Rate, Stated Percentage	5.75%
Debt Instrument, Maturity Date	May 15, 2026
Debt Instrument, Frequency of Periodic Payment	May 15, November 15
Debt Instrument, Redemption Period, End Date	May 15, 2024
Principal amount	$ 750,000,000
6.125% Senior Notes due 2024 [Member]
Debt Instrument
Principal amount	200,000,000
Revolving Credit Facility
Debt Instrument
Debt Issuance Costs, Line of Credit Arrangements, Net	16,100,000		$ 16,900,000
Initial Borrowing Base [Member] | Revolving Credit Facility
Debt Instrument
Line Of Credit Facility Initial Borrowing Capacity	$ 2,500,000,000
Alternate Base Rate Option [Member]
Debt Instrument
Line of Credit Facility, Interest Rate at Period End	0.75%
LIBOR Option [Member]
Debt Instrument
Line of Credit Facility, Interest Rate at Period End	1.75%
Unused Commitment Fee [Member]
Debt Instrument
Line of Credit Facility, Interest Rate at Period End	0.375%
Elected commitment [Member]
Debt Instrument
Line of Credit Facility, Current Borrowing Capacity	$ 1,500,000,000
Elected commitment [Member] | Subsequent Event [Member]
Debt Instrument
Line of Credit Facility, Current Borrowing Capacity		$ 1,500,000,000

Leases Leases - Narrative (Deta

Leases Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Jan. 31, 2022
Leases [Abstract]
Short-term Lease, Cost	$ 74,700	$ 38,900
Operating and Finance Lease, Weighted Average Discount Rate, Percent	4.80%	4.80%
Operating And Finance Lease, Weighted Average Remaining Lease Term	3 years	2 years 9 months 18 days
Total Operating Lease Payments			$ 32,000

Leases Leases - Lease Assets an

Leases Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets and Liabilities, Lessee [Abstract]
Operating lease right-of-use assets	$ 6,824	$ 7,630
Operating lease obligation - current	5,505	5,937
Operating lease obligation - non-current	3,308	4,044
Finance lease right-of-use assets	6,721	3,483
Finance lease obligation - current	2,069	1,260
Finance lease obligation - non-current	$ 4,663	$ 2,230

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Asset Retirement Obligation, Roll Forward Analysis
Balance at beginning of period	$ 159,672
Obligations incurred with development activities	1,655
Accretion expense	2,987	$ 3,128
Obligations discharged asset retirements	(8,260)
Balance end of period	155,770
Less current portion	(31,914)
Asset retirement obligations	123,856		$ 127,526
Asset Retirement Obligation, Revision of Estimate	$ (284)

Common Stock Common Stock (Deta

Common Stock Common Stock (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)$ / shares
Equity [Abstract]
Common Stock, Dividends, Per Share, Declared | $ / shares	$ 0.25
Dividends, Common Stock | $	$ (24,500)

Common Stock Stock Based Compen

Common Stock Stock Based Compensation Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	May 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 5,474	$ 5,020
Common Stock, Capital Shares Reserved for Future Issuance			7,050,000
2018 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares remain avaliable for issuance	3,836,691
2010 Long-Term Equity Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares remain avaliable for issuance	465,780

Common Stock Stock Based Comp_2

Common Stock Stock Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 5,474	$ 5,020
Stock-based Compensation - G&A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 5,182	$ 4,828

Common Stock COMMON STOCK Restr

Common Stock COMMON STOCK Restricted Stock - Time Based Awards (Details) - Restricted stock - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	1,055,532		1,165,187
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 27.51		$ 25.33
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	92,411
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 57.57	$ 28.75
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	196,336
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 28.76
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	5,730
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 26.40
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 21,800
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 8 months 12 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value	$ 5,600	$ 6,100

Common Stock COMMON STOCK Res_2

Common Stock COMMON STOCK Restricted Stock - Market Based Awards (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Feb. 17, 2022	Dec. 31, 2021	Jan. 14, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Authorized Amount			$ 1,250		$ 525
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Shares Payout Range	0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Shares Payout Range	250.00%
Restricted Stock - Market Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	2 years 10 months 24 days	2 years 10 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.70%	0.20%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	86.30%	84.60%
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	541,327			439,229
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 55.40			$ 43.21
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 107.85	$ 54.01
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 19.5
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	102,098
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	1,055,532			1,165,187
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 27.51			$ 25.33
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 57.57	$ 28.75
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 21.8
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	196,336
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 28.76
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(5,730)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	92,411
Restricted Stock - Market Based Awards multiplier
Share-based Compensation Arrangement by Share-based Payment Award [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	$ 43.10
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	241,183
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 43.10
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	241,183

Common Stock COMMON STOCK Stock

Common Stock COMMON STOCK Stock Appreciation Rights (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Restricted Stock - Market Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	541,327		439,229
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 19.5
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 55.40		$ 43.21
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	102,098
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 107.85	$ 54.01
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	1,055,532		1,165,187
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 21.8
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 27.51		$ 25.33
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	92,411
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 57.57	$ 28.75
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	196,336
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 28.76
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	5,730

Common Stock Preferred Stock (D

Common Stock Preferred Stock (Details) - $ / shares	Mar. 31, 2022	Jun. 23, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, par value		$ 0.01
Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred Stock, Shares Authorized		50,000,000
Preferred Stock, Shares Issued	0

Common Stock Stock Repurchase (

Common Stock Stock Repurchase (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Feb. 17, 2022	Dec. 31, 2021	Jan. 14, 2020
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 1,250,000,000		$ 525,000,000
Payments for Repurchase of Common Stock	$ 80,853,000	$ 21,067,000
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Payments for Repurchase of Common Stock	$ 80,853,000	$ 21,067,000
Common Stock, Dividends, Per Share, Declared	$ 0.25
Treasury Stock, Common [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased During Period, Shares	1,326,000	598,000
Payments for Repurchase of Common Stock	$ (85,300,000)	$ (22,100,000)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Payments for Repurchase of Common Stock	(85,300,000)	$ (22,100,000)
Treasury Stock remaining to be repurchased	1,190,000,000			$ 187,300,000
Treasury Stock remaining to be repurchased	$ 1,190,000,000			$ 187,300,000

Stock-based compensation compos

Stock-based compensation composition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	$ 5,474	$ 5,020
Stock-based Compensation - G&A
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	5,182	4,828
Stock-based Compensation - LOE
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	$ 292	$ 192

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits	$ 0
Effective Income Tax Rate, Continuing Operations	(3.90%)	(0.60%)

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reconciliation of Weighted-Average Diluted Shares Outstanding
Weighted Average Number of Shares Outstanding, Basic	96,279	99,702
Weighted Average Number of Shares Outstanding, Diluted	96,279	99,702
Anti-dilutive Effect
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,424	1,960
Restricted stock
Anti-dilutive Effect
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,281	1,748
Stock Appreciation Rights (SARs)
Anti-dilutive Effect
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	143	212

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Interest, net of capitalized interest	$ 3,825	$ 9,043
Income taxes	(233)	(1,388)
Change in accounts payable related to capital expenditures	33,135	15,393
Asset Retirement Obligation, Period Increase (Decrease)	767	206
Operating Lease, Payments	1,740	2,224
Operating Cash Flow from Financing Leases	49	20
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	444	0
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 3,660	$ 917