PDC Energy (PDCE) 10-Q 3 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 25, 2023
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	80202
City Area Code	303
Local Phone Number	860-5800
Entity Registrant Name	PDC ENERGY, INC.
Entity Address, Address Line One	1099 18th Street,
Entity Address, Address Line Two	Suite 1500
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, 2023
Document Transition Report	false
Entity File Number	001-37419
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		87,455,855
Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 17,443	$ 6,494
Accounts receivable, net	474,783	546,311
Prepaid expenses and other current assets	10,822	8,987
Derivative Assets, Gross, Current	68,144	31,963
Total current assets	571,192	593,755
Properties and equipment, net	7,510,312	7,293,355
Derivative Assets, Gross, Noncurrent	46,497	25,562
Other assets	131,464	70,093
Total Assets	8,259,465	7,982,765
Current liabilities:
Accounts payable	285,995	244,406
Production tax liability	253,962	244,737
Derivative Liability, Gross, Current	125,529	274,218
Funds held for distribution	523,889	539,094
Accrued interest payable	20,877	11,655
Other accrued expenses	112,294	106,082
Total current liabilities	1,322,546	1,420,192
Long-term debt	1,296,491	1,314,010
Asset retirement obligations	170,060	171,665
Derivative Liability, Gross, Noncurrent	29,019	53,600
Deferred income taxes	621,358	507,683
Other liabilities	605,615	532,870
Total liabilities	4,045,089	4,000,020
Stockholders' Equity:
Common shares - par value $0.01 per share, 150,000,000 authorized, 87,570,195 and 89,224,353 issued as of March 31, 2023 and December 31, 2022, respectively	876	892
Additional paid-in capital	2,742,706	2,823,364
Retained earnings	1,476,205	1,165,816
Treasury shares - at cost, 88,328 and 119,336 as of March 31, 2023 and December 31, 2022, respectively	(5,411)	(7,327)
Total stockholders’ equity	4,214,376	3,982,745
Total Liabilities and Stockholders’ Equity	$ 8,259,465	$ 7,982,765
Treasury Stock, Common, Shares	88,328	119,336

Balance Sheet Parenthetical (Pa

Balance Sheet Parenthetical (Parentheticals) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, shares authorized	150,000,000
Common stock, shares issued	87,570,195	89,224,353
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, 2023	Mar. 31, 2022
Revenues:
Crude oil, natural gas and NGLs sales	$ 813,284	$ 882,378
Commodity price risk management gain (loss), net	144,132	(568,055)
Other income	252	2,125
Total revenues	957,668	316,448
Costs, expenses and other:
Lease operating expense	73,259	54,156
Production taxes	55,747	62,916
Transportation, gathering and processing expense	32,505	27,971
Exploration, geologic and geophysical expense	534	253
General and administrative expense	41,487	34,107
Depreciation, depletion and amortization	207,187	151,055
Accretion of asset retirement obligations	3,714	2,987
Impairment of properties and equipment	1,373	943
Loss (gain) on sale of properties and equipment	155	(125)
Total cost, expenses and other	415,961	334,263
Income (loss) from operations	541,707	(17,815)
Interest expense	(14,705)	(12,945)
Income (loss) before income taxes	527,002	(30,760)
Income tax (expense) benefit	(112,870)	(1,200)
Net income (loss)	$ 414,132	$ (31,960)
Earnings per share:
Basic	$ 4.69	$ (0.33)
Diluted	$ 4.64	$ (0.33)
Weighted-average common shares outstanding
Basic	88,357	96,279
Diluted	89,228	96,279

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Cash Flows [Abstract]
Net income (loss)	$ 414,132	$ (31,960)
Adjustments to net income (loss) to reconcile to net cash provided by operating activities:
Net change in fair value of unsettled commodity derivatives	(230,386)	406,461
Depreciation, depletion and amortization	207,187	151,055
Impairment of properties and equipment	1,373	943
Accretion of asset retirement obligations	3,714	2,987
Non-cash stock-based compensation	6,564	5,474
Loss (gain) on sale of properties and equipment	155	(125)
Amortization of debt discount and issuance costs	1,361	1,357
Deferred income taxes	113,675	3,600
Other	258	(1,030)
Changes in assets and liabilities	70,445	(49,839)
Net cash from operating activities	588,323	489,048
Cash flows from investing activities:
Capital expenditures for development of crude oil and natural gas properties	(362,251)	(187,021)
Capital expenditures for midstream assets	(3,574)	0
Capital expenditures for other properties and equipment	(6,651)	(67)
Proceeds from sale of properties and equipment	37	89
Proceeds from Divestiture of Businesses	0	465
Net cash from investing activities	(372,439)	(236,534)
Cash flows from financing activities:
Proceeds from revolving credit facility	496,000	100,500
Repayment of revolving credit facility	(514,000)	(100,500)
Payments of Debt Issuance Costs	0	30
Purchase of treasury shares for employee stock-based compensation tax withholding obligations	(19,243)	(9,203)
Purchase of treasury shares under stock repurchase program	(129,944)	(80,853)
Dividends paid	(37,179)	(24,681)
Finance Lease, Principal Payments	(569)	(419)
Net cash from financing activities	(204,935)	(115,186)
Net change in cash, cash equivalents, and restricted cash	10,949	137,328
Cash, cash equivalents and restricted cash, beginning of period	6,494	33,829
Cash, cash equivalents and restricted cash, end of period	17,443	171,157
Escrow Deposit Disbursements Related to Property Acquisition	$ 0	$ (50,000)
Treasury Stock, Common, Shares	88,328

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]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' Equity Attributable to Parent		$ 2,910,247
Shares, Issued			(96,468,000)		(55,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest			$ 965
Additional paid-in capital	$ 3,161,941
Retained earnings	(249,954)
Treasury shares - at cost, 88,328 and 119,336 as of March 31, 2023 and December 31, 2022, respectively	(2,705)
Issuance of treasury shares			0		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, Value, Share-based Payment Arrangement, after Forfeiture		5,474	$ 7		$ 3,669
Treasury Stock, Shares, Retired			53,000		(53,000)
Treasury Stock, Retired, Cost Method, Amount		0		3,022	$ (3,024)	0
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	2	0	$ 13	83,508	$ (83,521)	0
Stock Repurchased During Period, Shares					(1,326,000)
Dividends, Common Stock	$ 24,468			(24,468)
Common Stock, Dividends, Per Share, Declared	$ 0.25
Stock Issued During Period, Shares, Restricted Stock Award, Gross			655,000
Non-cash stock-based compensation	$ 5,474			1,798
Treasury Stock, Shares, Acquired					(164,000)
Stockholders' Equity, Other						0
Stockholders' Equity Attributable to Parent		2,764,751
Shares, Issued			(95,750,000)		105,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest			$ 957
Additional paid-in capital	3,052,741
Retained earnings	(281,914)
Treasury shares - at cost, 88,328 and 119,336 as of March 31, 2023 and December 31, 2022, respectively	(7,033)
Stockholders' Equity Attributable to Parent	$ 3,982,745	3,982,745
Shares, Issued			(89,224,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest			$ 892
Treasury Stock, Common, Shares	119,336
Additional paid-in capital	$ 2,823,364
Retained earnings	1,165,816
Treasury shares - at cost, 88,328 and 119,336 as of March 31, 2023 and December 31, 2022, respectively	(7,327)
Issuance of treasury shares			0		1,000
Purchase of treasury shares		19,243			$ 19,243
Issuance of treasury shares		0		0	0
Net income (loss)	414,132	414,132				414,132
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture		6,564	$ 8		$ 59
Treasury Stock, Shares, Retired			300,000		(300,000)
Treasury Stock, Retired, Cost Method, Amount		0		10,942	$ (19,243)	8,298
Stock Repurchased and Retired During Period, Shares			2,088,000		(2,089,000)
Stock Repurchased During Period, Value		134,190			$ 134,190
Stock Repurchased and Retired During Period, Value	3	0	$ 21	76,213	$ (136,047)	(59,813)
Stock Repurchased During Period, Shares					(2,059,000)
Dividends, Common Stock	$ 36,000	(35,632)		0
Common Stock, Dividends, Per Share, Declared	$ 0.40
Stock Issued During Period, Shares, Restricted Stock Award, Gross			734,000
Non-cash stock-based compensation	$ 6,564			$ 6,497
Treasury Stock, Shares, Acquired					(300,000)
Stockholders' Equity, Other						(35,632)
Stockholders' Equity Attributable to Parent	$ 4,214,376	$ 4,214,376
Shares, Issued			(87,570,000)		88,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest			$ 876
Treasury Stock, Common, Shares	88,328
Additional paid-in capital	$ 2,742,706
Retained earnings	1,476,205					$ 1,476,205
Treasury shares - at cost, 88,328 and 119,336 as of March 31, 2023 and December 31, 2022, respectively	$ (5,411)

Statement of Financial Position

Statement of Financial Position, Classified	3 Months Ended
	Mar. 31, 2023
Statement of Financial Position [Abstract]
Income Tax Disclosure	NOTE 12 - INCOME TAXES Our effective income tax rate for the three months ended March 31, 2023 and 2022 was 21.4 percent and 3.9 percent, respectively. For the three months ended March 31, 2023, our effective income tax rate was different from the U.S. statutory tax rate of 21 percent primarily due to the effects of state income taxes, partially offset by the benefit of excess stock-based compensation deductions and a change in the state effective tax rate. For the three months ended March 31, 2022, our effective income tax rate was different from the U.S. statutory tax rate of 21 percent primarily due to our valuation allowance against our deferred tax assets.

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2023
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, 2023, we owned an interest in approximately 4,100 gross productive wells. The accompanying unaudited condensed consolidated financial statements include the accounts of PDC and our wholly-owned subsidiaries. Pursuant to the proportionate consolidation method, our accompanying financial statements include our pro rata share of assets, liabilities, revenues and expenses of the entities which we proportionately consolidate. 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, 2022 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 2022 Form 10-K. Our results of operations and cash flows for the three months ended March 31, 2023 are not necessarily indicative of the results to be expected for the full year or any other future period.

Business Combination (Notes)

Business Combination (Notes)	3 Months Ended
	Mar. 31, 2023
Business Combinations [Abstract]
Business Combination Disclosure	NOTE 2 - BUSINESS COMBINATION On May 6, 2022, we completed the acquisition of Great Western Petroleum, LLC (“Great Western”), for approximately $1.4 billion, inclusive of Great Western’s net debt (the “Great Western Acquisition”). Great Western was an independent oil and gas company focused on the exploration, production and development of crude oil and natural gas in the Wattenberg Field of Colorado. The consideration paid included $543 million in cash and approximately 4.0 million shares of our common stock, valued at $293 million on the acquisition date. In addition, we paid off the Great Western secured credit facility totaling $236 million and irrevocably deposited $361 million on Great Western’s behalf to pay and discharge on May 20, 2022 Great Western’s 12 percent senior secured notes due 2025, inclusive of unpaid accrued interest and a premium for early termination. The cash portion of the purchase price and the termination of Great Western’s debt were funded through a combination of cash on hand and availability under our revolving credit facility. Purchase Price Allocation The Great Western Acquisition has been accounted for using the acquisition method under Accounting Standards Codification (“ASC”) 805, Business Combinations , with PDC being treated as the accounting acquirer. Accordingly, we conducted assessments of the net assets acquired and recognized amounts for identifiable assets acquired and liabilities assumed at their estimated fair values, while transaction and integration costs associated with the acquisition were expensed as incurred. The purchase price allocation was completed on December 31, 2022. The following table details our final purchase price, valuation and allocation of the purchase price to the assets acquired and liabilities assumed as a result of the Great Western Acquisition: (in thousands, except share and per share data) Consideration: Cash $ 542,500 Retirement of Great Western’s credit facility 235,822 Extinguishment of Great Western’s secured senior notes 361,231 Total cash consideration $ 1,139,553 Common stock issued 4,007,018 Fair value of PDC common stock on May 6, 2022 $ 73.20 Total fair value of common stock issued 293,314 Total consideration $ 1,432,867 Assets acquired: Cash $ 63,183 Accounts receivable 164,026 Other current assets 3,129 Properties and equipment, net - proved 2,091,301 Properties and equipment, net - other 7,035 Other noncurrent assets 20,345 Total assets acquired $ 2,349,019 Liabilities assumed: Accounts payable $ (119,142) Production tax liability (110,940) Funds held for distribution (170,708) Other current liabilities (19,203) Fair value of derivatives (319,600) Asset retirement obligations (25,300) Deferred tax liabilities (28,400) Other liabilities (32,802) Total liabilities assumed $ (826,095) Total identifiable net assets acquired $ 1,522,924 Gain on bargain purchase 90,057 Purchase price consideration $ 1,432,867 Determining the fair values of the assets and liabilities of Great Western required judgement and certain assumptions to be made, the most significant of these being related to the valuation of crude oil and natural gas properties. The majority of the measurements of assets acquired and liabilities assumed are based on inputs that are not observable in the market, and therefore represent Level 3 inputs. The fair values of crude oil and natural gas properties and asset retirement obligations were measured using valuation techniques that convert future cash flows to a single discounted amount. Significant inputs and assumptions to the valuation of proved and unproved crude oil and natural gas properties include estimates of reserve volumes, future operating and development costs, future commodity prices and a market-based weighted average cost of capital rate of 14.25 percent. These inputs require significant judgments and estimates by management at the time of the valuation. The fair value of derivative instruments was based on observable inputs, including forward commodity-price curves which are considered Level 2 inputs, and based on volatility factors which are considered Level 3 inputs. ASC 805, Business Combinations , requires that any excess of purchase price over the fair value of assets acquired, including identifiable intangibles and liabilities assumed, be recognized as goodwill and any excess of fair value of acquired net assets, including identifiable intangible assets over the acquisition consideration, results in a gain from bargain purchase. Prior to recording a gain, the acquiring entity must reassess whether all assets acquired and assumed liabilities have been identified and recognized and perform re-measurements to verify that the consideration paid, assets acquired and liabilities assumed have been properly valued. The Great Western Acquisition resulted in a gain on bargain purchase due to the estimated fair value of the identifiable net assets acquired exceeding the purchase consideration transferred by $90 million, net of related income taxes of $28 million . Upon completion of our assessment, we concluded that recording a gain on bargain purchase was appropriate and required under ASC 805. The bargain purchase was primarily attributable to the increase in commodity price forecasts from the date we entered into the definitive purchase agreement with Great Western, February 26, 2022, to the closing date of the acquisition, May 6, 2022, when the fair value of crude oil and natural gas reserves acquired were determined. Additionally, the majority of the acquisition consideration was fixed and therefore did not fluctuate as a result of market increases or decreases between the date of entry into the agreement through the closing date. The results of operations for the Great Western Acquisition since the closing date have been included on our condensed consolidated financial statements. Pro Forma Information . The following unaudited pro forma financial information represents a summary of the condensed consolidated results of operations for the three months ended March 31, 2022, assuming the acquisition had been completed as of January 1, 2021. The pro forma financial information is not necessarily indicative of the results of operations that would have been achieved if the acquisition had been effective as of these dates, or of future results. The information below reflects certain nonrecurring pro forma adjustments that were directly related to the business combination based on available information and certain assumptions that we believe are reasonable, including (i) our common stock issued to the owners of Great Western, (ii) the increase in depletion reflecting the relative fair values and production volumes attributable to Great Western’s properties and the revision to the depletion rate reflecting the reserve volumes acquired, (iii) adjustments to interest expense as a result of payoff of Great Western’s credit facility and secured senior notes, and (iv) the estimated tax impacts of the pro forma adjustments. Three months ended March 31, 2022 (in thousands, except per share data) Total revenue $ 352,347 Net income (loss) (101,097) Earnings (loss) per share: Basic $ (1.01) Diluted (1.01)

Revenue Recognition (Notes)

Revenue Recognition (Notes)	3 Months Ended
	Mar. 31, 2023
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 2023 2022 Percent Change (in thousands) Crude oil Wattenberg Field $ 445,846 $ 451,911 (1) % Delaware Basin 68,453 97,838 (30) % Total 514,299 549,749 (6) % Natural gas Wattenberg Field 153,355 143,699 7 % Delaware Basin 7,687 19,425 (60) % Total 161,042 163,124 (1) % NGLs Wattenberg Field 119,159 138,875 (14) % Delaware Basin 18,784 30,630 (39) % Total 137,943 169,505 (19) % Crude oil, natural gas and NGLs Wattenberg Field 718,360 734,485 (2) % Delaware Basin 94,924 147,893 (36) % Total $ 813,284 $ 882,378 (8) %

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	3 Months Ended
	Mar. 31, 2023
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, interest rates, volatility factors and non-performance risk. Non-performance 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, 2023 December 31, 2022 Condensed Consolidated Balance Sheet Line Item Significant Other Significant Total Significant Other Significant Total (in thousands) Derivative assets Current Fair value of derivatives $ 38,181 $ 29,963 $ 68,144 $ 9,178 $ 22,785 $ 31,963 Non-current Fair value of derivatives 36,750 9,747 46,497 20,439 5,123 25,562 Total $ 74,931 $ 39,710 $ 114,641 $ 29,617 $ 27,908 $ 57,525 Derivative liabilities Current Fair value of derivatives $ (97,328) $ (28,201) $ (125,529) $ (214,171) $ (60,047) $ (274,218) Non-current Fair value of derivatives (22,424) (6,595) (29,019) (49,749) (3,851) (53,600) Total $ (119,752) $ (34,796) $ (154,548) $ (263,920) $ (63,898) $ (327,818) The following table presents a reconciliation of our Level 3 commodity derivative assets and liabilities measured at fair value for the periods presented: Three Months Ended March 31, 2023 2022 (in thousands) Fair value of Level 3 instruments, net asset (liability) beginning of period $ (35,990) $ (62,540) Changes in fair value included on condensed consolidated statements of operations line item: Commodity price risk management gain (loss), net 40,796 (209,771) Settlements included on condensed consolidated statement of operations line items: Commodity price risk management gain (loss), net 108 46,100 Fair value of Level 3 instruments, net asset (liability) end of period $ 4,914 $ (226,211) 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 $ 33,490 $ (159,118) The significant unobservable input used in the fair value measurement of our derivative contracts is the implied volatility curve. 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. The most significant fair value determinations for non-financial assets and liabilities are related to crude oil and gas properties acquired. See Note 2 - Business Combination for additional information. 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 elected not 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, 2023 December 31, 2022 Nominal Interest Estimated Fair Value Percent of Par Estimated Fair Value Percent of Par (in millions) (in millions) 2024 Senior Notes 6.125 % $ 199.6 99.8 % $ 198.4 99.2 % 2026 Senior Notes 5.75 % 732.8 97.7 % 716.0 95.5 %

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2023
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 natural 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, 2023, we had derivative instruments in place for a portion of our anticipated production in 2023 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 2023 2022 (in thousands) Commodity price risk management gain (loss), net Net settlements $ (86,254) $ (161,594) Net change in fair value of unsettled derivatives 230,386 (406,461) Total commodity price risk management gain (loss), net $ 144,132 $ (568,055) Commodity Derivative Contracts. As of March 31, 2023, 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, 2023 (in thousands) Floors Ceilings Crude Oil NYMEX 2023 4,509 $ 60.52 $ 81.92 7,311 $ 67.40 $ (66,451) 2024 1,545 63.16 87.44 6,126 70.59 3,773 2025 — — — 2,640 75.10 19,024 Total Crude Oil 6,054 16,077 (43,654) Natural Gas NYMEX 2023 18,765 3.44 5.80 29,666 3.04 25,165 2024 14,940 3.00 4.68 26,160 3.54 (2,608) 2025 4,980 3.50 5.00 14,940 4.42 1,823 38,685 70,766 24,380 CIG 2023 — — — 6,570 3.39 4,968 2025 — — — 4,800 3.10 (4,584) — 11,370 384 Total Natural Gas 38,685 82,136 24,764 Basis Protection - Natural Gas CIG 2023 47,219 (0.26) (6,227) 2024 41,100 (0.31) (11,306) 2025 19,920 (0.25) (3,484) Total Basis Protection - Natural Gas 108,239 (21,017) Commodity Derivatives Fair Value $ (39,907) 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: Total Gross Amount Presented on the Balance Sheet Effect of Master Netting Agreements Total Net Amount (in thousands) As of March 31, 2023 Derivative asset instruments, at fair value $ 114,641 $ (89,682) $ 24,959 Derivative liability instruments, at fair value $ 154,548 $ (89,682) $ 64,866 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, 2023; however, this determination may change.

Properties and Equipment

Properties and Equipment	3 Months Ended
	Mar. 31, 2023
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, 2023 December 31, 2022 (in thousands) Properties and equipment, net: Crude oil and natural gas properties Proved $ 11,696,780 $ 11,324,756 Unproved 156,004 156,418 Total crude oil and natural gas properties 11,852,784 11,481,174 Equipment and other 83,054 72,151 Land and buildings 25,406 25,406 Construction in progress 750,460 716,302 Properties and equipment, at cost 12,711,704 12,295,033 Accumulated DD&A (5,201,392) (5,001,678) Properties and equipment, net $ 7,510,312 $ 7,293,355 Suspended Well Costs. The following table presents the changes in capitalized exploratory well cost pending determination of proved reserves and included in properties and equipment for the periods presented: Three Months Ended March 31, 2023 Year Ended December 31, 2022 (in thousands, except for number of wells) Beginning balance $ — $ — Additions to capitalized exploratory well costs pending the determination of proved reserves 2,538 — Reclassifications to proved properties — — Ending balance $ 2,538 $ — Number of wells pending determination at period-end 3 — As of March 31, 2023, there were no exploratory well costs that were capitalized more than one year.

Other Accrued Expenses and Othe

Other Accrued Expenses and Other Liabilities (Notes)	3 Months Ended
	Mar. 31, 2023
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, 2023 December 31, 2022 (in thousands) Crude oil, natural gas and NGLs sales $ 398,324 $ 491,327 Joint interest billings 56,088 46,633 Other 25,715 13,796 Allowance for doubtful accounts (5,344) (5,445) Accounts receivable, net $ 474,783 $ 546,311 Other Accrued Expenses. The following table presents the components of other accrued expenses as of the dates indicated: March 31, 2023 December 31, 2022 (in thousands) Employee benefits $ 18,396 $ 29,288 Asset retirement obligations 25,864 25,986 Environmental expenses 23,529 25,666 Operating and finance leases 28,127 5,987 Other 16,378 19,155 Other accrued expenses $ 112,294 $ 106,082 Other Liabilities. The following table presents the components of other liabilities as of the dates indicated: March 31, 2023 December 31, 2022 (in thousands) Deferred midstream gathering credits $ 141,976 $ 145,937 Production taxes 371,863 315,758 Operating and finance leases 63,496 41,815 Other 28,280 29,360 Other liabilities $ 605,615 $ 532,870

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Lessee, Operating Leases	NOTE 9 - LEASES We have operating leases for office space, drilling rig and well equipment, and finance leases for vehicles. Our leases have remaining lease terms ranging from one to ten years. We had short-term lease costs of $168 million and $75 million for the three months ended March 31, 2023 and March 31, 2022, 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 components of our lease costs for the periods presented: Leases Condensed Consolidated Balance Sheet Line Item March 31, 2023 December 31, 2022 (in thousands) Operating lease right-of-use assets Other assets $ 19,577 $ 19,577 Finance lease right-of-use assets Properties and equipment, net 6,184 6,184 Total right-of-use assets $ 25,761 $ 25,761 Operating lease obligation - short-term Other accrued expenses 3,824 3,825 Operating lease obligation - long-term Other liabilities 37,720 37,720 Finance lease obligation - short-term Other accrued expenses 2,162 2,162 Finance lease obligation - long-term Other liabilities 4,095 4,095 Total lease liabilities $ 47,801 $ 47,802 Weighted average remaining lease term (years) 7.9 7.9 Weighted average discount rate 5.1 % 5.1 %
Lessee, Finance Leases	NOTE 9 - LEASES We have operating leases for office space, drilling rig and well equipment, and finance leases for vehicles. Our leases have remaining lease terms ranging from one to ten years. We had short-term lease costs of $168 million and $75 million for the three months ended March 31, 2023 and March 31, 2022, 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 components of our lease costs for the periods presented: Leases Condensed Consolidated Balance Sheet Line Item March 31, 2023 December 31, 2022 (in thousands) Operating lease right-of-use assets Other assets $ 19,577 $ 19,577 Finance lease right-of-use assets Properties and equipment, net 6,184 6,184 Total right-of-use assets $ 25,761 $ 25,761 Operating lease obligation - short-term Other accrued expenses 3,824 3,825 Operating lease obligation - long-term Other liabilities 37,720 37,720 Finance lease obligation - short-term Other accrued expenses 2,162 2,162 Finance lease obligation - long-term Other liabilities 4,095 4,095 Total lease liabilities $ 47,801 $ 47,802 Weighted average remaining lease term (years) 7.9 7.9 Weighted average discount rate 5.1 % 5.1 %

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2023
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, 2023: (in thousands) Beginning balance $ 197,651 Obligations incurred with development activities and other 2,888 Obligations incurred with acquisition — Accretion expense 3,714 Revisions in estimated cash flows — Obligations discharged with asset retirements and divestitures (8,329) Asset retirement obligations at end of period 195,924 Current portion (1) (25,864) Long-term portion $ 170,060 _____________

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	NOTE 10 - COMMITMENTS AND CONTINGENCIES Contractual Obligations . 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, 2023. For details of our existing commitments, refer to Note 12 - Commitments and Contingencies in Item 8. Financial Statements and Supplementary Data included in our 2022 Form 10-K. Lease Commitments. In March 2023, we commenced two long-term drilling rig leases. We recognized right-of-use of assets and operating lease liabilities in an aggregate amount of $45 million . Additionally, we had short-term lease costs of $168 million and $75 million for the three months ended March 31, 2023 and March 31, 2022, 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. 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, 2023
Equity [Abstract]
Common Stock	NOTE 11 - COMMON STOCK Stock-Based Compensation Plans 2018 Equity Incentive Plan . In 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, 2023, there were 3,515,571 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, 2023, there were 241,841 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, 2023 2022 (in thousands) General and administrative expense $ 6,218 $ 5,182 Lease operating expense 346 292 Total stock-based compensation expense $ 6,564 $ 5,474 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, 2023: Shares Weighted Average Grant-Date Fair Value per Share Non-vested at beginning of period 896,511 $ 42.05 Granted 87,354 66.49 Vested (156,353) 32.01 Forfeited (720) 60.38 Non-vested at end of period 826,792 46.51 The weighted average grant-date fair value of restricted stock units was $66.49 and $57.57 for the three months ended March 31, 2023 and 2022, respectively. The total grant-date fair value of restricted stock units that vested for the three months ended March 31, 2023 and 2022 was $5 million and $6 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, 2023 was $26 million. This cost is expected to be recognized over a weighted average period of 1.6 years. Performance Stock Units The Compensation Committee awarded a total of 96,605 market-based PSUs to our executive officers during the three months ended March 31, 2023. 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 performance, including any dividends, over a three-year period ending on December 31, 2025, as compared to the TSR of a group of peer companies and the S&P Mid Cap 400 Index 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 a group of peer companies and the S&P Mid Cap 400 Index. 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, 2023 2022 Expected term of award (in years) 2.9 2.9 Risk-free interest rate 4.4% 1.7% Expected volatility 66.7% 86.3% Weighted average grant-date fair value per share $110.18 $107.85 The following table presents the change in non-vested market-based awards during the three months ended March 31, 2023: Shares Weighted Average Grant-Date Fair Value per Share Non-vested at beginning of period 309,753 $ 71.76 Granted 96,605 110.18 Non-vested at end of period 406,358 80.89 Total compensation cost related to non-vested market-based awards not yet recognized on our condensed consolidated statements of operations as of March 31, 2023 was $20 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, 2023, 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. In February 2023, our board of directors approved a $750 million increase in the size of our stock repurchase program, resulting in an aggregate authorization of $2 billion. 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 2.1 million and 1.3 million shares of outstanding common stock at a cost of $134 million and $85 million during the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, $1.1 billion remained available under the program for repurchases of our outstanding common stock.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Tax Disclosure	NOTE 12 - INCOME TAXES Our effective income tax rate for the three months ended March 31, 2023 and 2022 was 21.4 percent and 3.9 percent, respectively. For the three months ended March 31, 2023, our effective income tax rate was different from the U.S. statutory tax rate of 21 percent primarily due to the effects of state income taxes, partially offset by the benefit of excess stock-based compensation deductions and a change in the state effective tax rate. For the three months ended March 31, 2022, our effective income tax rate was different from the U.S. statutory tax rate of 21 percent primarily due to our valuation allowance against our deferred tax assets.

Earnings per share

Earnings per share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 13 - 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, 2023 2022 (in thousands) Weighted average common shares outstanding - basic 88,357 96,279 Dilutive effect of: RSUs and PSUs 852 — Other equity-based awards 19 — Weighted average common shares and equivalents outstanding - diluted 89,228 96,279 We reported a net loss for the three months ended March 31, 2022, as a result, our basic and diluted weighted average common shares outstanding were the same 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, 2023 2022 (in thousands) Weighted average common share equivalents excluded from diluted earnings per share due to their anti-dilutive effect: RSUs and PSUs 82 2,281 Other equity-based awards 32 143 Total anti-dilutive common share equivalents 114 2,424

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	Three Months Ended March 31, 2023 2022 (in thousands) Supplemental cash flow information: Cash payments (receipts) for: Interest, net of capitalized interest $ 4,261 $ 3,825 Income taxes — (233) Non-cash investing and financing activities: Change in accounts payable related to capital expenditures $ 52,304 $ 33,135 Change in asset retirement obligations, with a corresponding change to crude oil and natural gas properties, net of disposals 2,156 767

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Consolidation, Policy	The accompanying unaudited condensed consolidated financial statements include the accounts of PDC and our wholly-owned subsidiaries. Pursuant to the proportionate consolidation method, our accompanying financial statements include our pro rata share of assets, liabilities, revenues and expenses of the entities which we proportionately consolidate. 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, 2022 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 2022 Form 10-K. Our results of operations and cash flows for the three months ended March 31, 2023 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, 2023
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.

Business Combination Purchase P

Business Combination Purchase Price Transaction Details (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination, Separately Recognized Transactions [Line Items]
Business Combination, Separately Recognized Transactions [Table Text Block]	The following table details our final purchase price, valuation and allocation of the purchase price to the assets acquired and liabilities assumed as a result of the Great Western Acquisition: (in thousands, except share and per share data) Consideration: Cash $ 542,500 Retirement of Great Western’s credit facility 235,822 Extinguishment of Great Western’s secured senior notes 361,231 Total cash consideration $ 1,139,553 Common stock issued 4,007,018 Fair value of PDC common stock on May 6, 2022 $ 73.20 Total fair value of common stock issued 293,314 Total consideration $ 1,432,867 Assets acquired: Cash $ 63,183 Accounts receivable 164,026 Other current assets 3,129 Properties and equipment, net - proved 2,091,301 Properties and equipment, net - other 7,035 Other noncurrent assets 20,345 Total assets acquired $ 2,349,019 Liabilities assumed: Accounts payable $ (119,142) Production tax liability (110,940) Funds held for distribution (170,708) Other current liabilities (19,203) Fair value of derivatives (319,600) Asset retirement obligations (25,300) Deferred tax liabilities (28,400) Other liabilities (32,802) Total liabilities assumed $ (826,095) Total identifiable net assets acquired $ 1,522,924 Gain on bargain purchase 90,057 Purchase price consideration $ 1,432,867
Business Acquisition, Pro Forma Information [Table Text Block]	The information below reflects certain nonrecurring pro forma adjustments that were directly related to the business combination based on available information and certain assumptions that we believe are reasonable, including (i) our common stock issued to the owners of Great Western, (ii) the increase in depletion reflecting the relative fair values and production volumes attributable to Great Western’s properties and the revision to the depletion rate reflecting the reserve volumes acquired, (iii) adjustments to interest expense as a result of payoff of Great Western’s credit facility and secured senior notes, and (iv) the estimated tax impacts of the pro forma adjustments. Three months ended March 31, 2022 (in thousands, except per share data) Total revenue $ 352,347 Net income (loss) (101,097) Earnings (loss) per share: Basic $ (1.01) Diluted (1.01)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2023
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 2023 2022 Percent Change (in thousands) Crude oil Wattenberg Field $ 445,846 $ 451,911 (1) % Delaware Basin 68,453 97,838 (30) % Total 514,299 549,749 (6) % Natural gas Wattenberg Field 153,355 143,699 7 % Delaware Basin 7,687 19,425 (60) % Total 161,042 163,124 (1) % NGLs Wattenberg Field 119,159 138,875 (14) % Delaware Basin 18,784 30,630 (39) % Total 137,943 169,505 (19) % Crude oil, natural gas and NGLs Wattenberg Field 718,360 734,485 (2) % Delaware Basin 94,924 147,893 (36) % Total $ 813,284 $ 882,378 (8) %

Fair Value Measurements and D_2

Fair Value Measurements and Disclosures (Tables)	3 Months Ended
	Mar. 31, 2023
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 elected not 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, 2023 December 31, 2022 Nominal Interest Estimated Fair Value Percent of Par Estimated Fair Value Percent of Par (in millions) (in millions) 2024 Senior Notes 6.125 % $ 199.6 99.8 % $ 198.4 99.2 % 2026 Senior Notes 5.75 % 732.8 97.7 % 716.0 95.5 %
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, 2023 December 31, 2022 Condensed Consolidated Balance Sheet Line Item Significant Other Significant Total Significant Other Significant Total (in thousands) Derivative assets Current Fair value of derivatives $ 38,181 $ 29,963 $ 68,144 $ 9,178 $ 22,785 $ 31,963 Non-current Fair value of derivatives 36,750 9,747 46,497 20,439 5,123 25,562 Total $ 74,931 $ 39,710 $ 114,641 $ 29,617 $ 27,908 $ 57,525 Derivative liabilities Current Fair value of derivatives $ (97,328) $ (28,201) $ (125,529) $ (214,171) $ (60,047) $ (274,218) Non-current Fair value of derivatives (22,424) (6,595) (29,019) (49,749) (3,851) (53,600) Total $ (119,752) $ (34,796) $ (154,548) $ (263,920) $ (63,898) $ (327,818)
Fair Value Assets and Liabilities Unobservable Input Reconciliation	The following table presents a reconciliation of our Level 3 commodity derivative assets and liabilities measured at fair value for the periods presented: Three Months Ended March 31, 2023 2022 (in thousands) Fair value of Level 3 instruments, net asset (liability) beginning of period $ (35,990) $ (62,540) Changes in fair value included on condensed consolidated statements of operations line item: Commodity price risk management gain (loss), net 40,796 (209,771) Settlements included on condensed consolidated statement of operations line items: Commodity price risk management gain (loss), net 108 46,100 Fair value of Level 3 instruments, net asset (liability) end of period $ 4,914 $ (226,211) 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 $ 33,490 $ (159,118)

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
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 2023 2022 (in thousands) Commodity price risk management gain (loss), net Net settlements $ (86,254) $ (161,594) Net change in fair value of unsettled derivatives 230,386 (406,461) Total commodity price risk management gain (loss), net $ 144,132 $ (568,055)
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	As of March 31, 2023, 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, 2023 (in thousands) Floors Ceilings Crude Oil NYMEX 2023 4,509 $ 60.52 $ 81.92 7,311 $ 67.40 $ (66,451) 2024 1,545 63.16 87.44 6,126 70.59 3,773 2025 — — — 2,640 75.10 19,024 Total Crude Oil 6,054 16,077 (43,654) Natural Gas NYMEX 2023 18,765 3.44 5.80 29,666 3.04 25,165 2024 14,940 3.00 4.68 26,160 3.54 (2,608) 2025 4,980 3.50 5.00 14,940 4.42 1,823 38,685 70,766 24,380 CIG 2023 — — — 6,570 3.39 4,968 2025 — — — 4,800 3.10 (4,584) — 11,370 384 Total Natural Gas 38,685 82,136 24,764 Basis Protection - Natural Gas CIG 2023 47,219 (0.26) (6,227) 2024 41,100 (0.31) (11,306) 2025 19,920 (0.25) (3,484) Total Basis Protection - Natural Gas 108,239 (21,017) Commodity Derivatives Fair Value $ (39,907)
Derivatives Not Designated as Hedging Instruments [Table Text Block]	The following table reflects the impact of netting agreements on gross derivative assets and liabilities: Total Gross Amount Presented on the Balance Sheet Effect of Master Netting Agreements Total Net Amount (in thousands) As of March 31, 2023 Derivative asset instruments, at fair value $ 114,641 $ (89,682) $ 24,959 Derivative liability instruments, at fair value $ 154,548 $ (89,682) $ 64,866

Properties and Equipment (Table

Properties and Equipment (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 December 31, 2022 (in thousands) Properties and equipment, net: Crude oil and natural gas properties Proved $ 11,696,780 $ 11,324,756 Unproved 156,004 156,418 Total crude oil and natural gas properties 11,852,784 11,481,174 Equipment and other 83,054 72,151 Land and buildings 25,406 25,406 Construction in progress 750,460 716,302 Properties and equipment, at cost 12,711,704 12,295,033 Accumulated DD&A (5,201,392) (5,001,678) Properties and equipment, net $ 7,510,312 $ 7,293,355
Schedule of Aging of Capitalized Exploratory Well Costs [Table Text Block]	The following table presents the changes in capitalized exploratory well cost pending determination of proved reserves and included in properties and equipment for the periods presented: Three Months Ended March 31, 2023 Year Ended December 31, 2022 (in thousands, except for number of wells) Beginning balance $ — $ — Additions to capitalized exploratory well costs pending the determination of proved reserves 2,538 — Reclassifications to proved properties — — Ending balance $ 2,538 $ — Number of wells pending determination at period-end 3 —

Other Accrued Expenses and Ot_2

Other Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 December 31, 2022 (in thousands) Employee benefits $ 18,396 $ 29,288 Asset retirement obligations 25,864 25,986 Environmental expenses 23,529 25,666 Operating and finance leases 28,127 5,987 Other 16,378 19,155 Other accrued expenses $ 112,294 $ 106,082
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, 2023 December 31, 2022 (in thousands) Deferred midstream gathering credits $ 141,976 $ 145,937 Production taxes 371,863 315,758 Operating and finance leases 63,496 41,815 Other 28,280 29,360 Other liabilities $ 605,615 $ 532,870
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, 2023 December 31, 2022 (in thousands) Deferred midstream gathering credits $ 141,976 $ 145,937 Production taxes 371,863 315,758 Operating and finance leases 63,496 41,815 Other 28,280 29,360 Other liabilities $ 605,615 $ 532,870
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, 2023 December 31, 2022 (in thousands) Crude oil, natural gas and NGLs sales $ 398,324 $ 491,327 Joint interest billings 56,088 46,633 Other 25,715 13,796 Allowance for doubtful accounts (5,344) (5,445) Accounts receivable, net $ 474,783 $ 546,311

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt, net of unamortized discounts, premiums, and debt issuance costs totaling $6 million and $6 million as of March 31, 2023 and December 31, 2022, respectively, consists of the following: March 31, 2023 December 31, 2022 (in thousands) Revolving credit facility due November 2026 $ 352,000 $ 370,000 6.125% Senior Notes due September 2024 199,286 199,163 5.75% Senior Notes due May 2026 745,205 744,847 Total debt, net of unamortized discount, premium and debt issuance costs $ 1,296,491 $ 1,314,010
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, 2023: 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, 2023
Leases [Abstract]
Operating and Financing Leases Financial Statement Location [Table Text Block]	The following table presents the components of our lease costs for the periods presented: Leases Condensed Consolidated Balance Sheet Line Item March 31, 2023 December 31, 2022 (in thousands) Operating lease right-of-use assets Other assets $ 19,577 $ 19,577 Finance lease right-of-use assets Properties and equipment, net 6,184 6,184 Total right-of-use assets $ 25,761 $ 25,761 Operating lease obligation - short-term Other accrued expenses 3,824 3,825 Operating lease obligation - long-term Other liabilities 37,720 37,720 Finance lease obligation - short-term Other accrued expenses 2,162 2,162 Finance lease obligation - long-term Other liabilities 4,095 4,095 Total lease liabilities $ 47,801 $ 47,802 Weighted average remaining lease term (years) 7.9 7.9 Weighted average discount rate 5.1 % 5.1 %

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Change in Asset Retirement Obligation	NOTE 9 - 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, 2023: (in thousands) Beginning balance $ 197,651 Obligations incurred with development activities and other 2,888 Obligations incurred with acquisition — Accretion expense 3,714 Revisions in estimated cash flows — Obligations discharged with asset retirements and divestitures (8,329) Asset retirement obligations at end of period 195,924 Current portion (1) (25,864) Long-term portion $ 170,060 _____________

Common Stock Common Stock (Tabl

Common Stock Common Stock (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 (in thousands) General and administrative expense $ 6,218 $ 5,182 Lease operating expense 346 292 Total stock-based compensation expense $ 6,564 $ 5,474
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, 2023: Shares Weighted Average Grant-Date Fair Value per Share Non-vested at beginning of period 896,511 $ 42.05 Granted 87,354 66.49 Vested (156,353) 32.01 Forfeited (720) 60.38 Non-vested at end of period 826,792 46.51
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, 2023 2022 Expected term of award (in years) 2.9 2.9 Risk-free interest rate 4.4% 1.7% Expected volatility 66.7% 86.3% Weighted average grant-date fair value per share $110.18 $107.85
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, 2023: Shares Weighted Average Grant-Date Fair Value per Share Non-vested at beginning of period 309,753 $ 71.76 Granted 96,605 110.18 Non-vested at end of period 406,358 80.89

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 (in thousands) Weighted average common shares outstanding - basic 88,357 96,279 Dilutive effect of: RSUs and PSUs 852 — Other equity-based awards 19 — Weighted average common shares and equivalents outstanding - diluted 89,228 96,279
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, 2023 2022 (in thousands) Weighted average common share equivalents excluded from diluted earnings per share due to their anti-dilutive effect: RSUs and PSUs 82 2,281 Other equity-based awards 32 143 Total anti-dilutive common share equivalents 114 2,424

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Three Months Ended March 31, 2023 2022 (in thousands) Supplemental cash flow information: Cash payments (receipts) for: Interest, net of capitalized interest $ 4,261 $ 3,825 Income taxes — (233) Non-cash investing and financing activities: Change in accounts payable related to capital expenditures $ 52,304 $ 33,135 Change in asset retirement obligations, with a corresponding change to crude oil and natural gas properties, net of disposals 2,156 767

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation Additional Information (Details)	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Oil and gas producing wells, gross	4,100

Business Combination - Narrativ

Business Combination - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
	May 06, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue			$ 352,347
Revenues		$ 957,668	316,448
Net Income (Loss) Attributable to Parent		$ 414,132	$ (31,960)
Purch Price Adj Disc Cash Flow	14.25%
(Adjustment to) Gain on bargain purchase	$ 90,000
Great Western Petroleum, LLC
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	1,432,867
(Adjustment to) Gain on bargain purchase				$ 90,057
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	(28,000)			(28,400)
Payments to Acquire Businesses, Net of Cash Acquired	542,500
Business Combination, Consideration Transferred, Liabilities Incurred	$ 235,822
Business Combination, Consideration Transferred, Equity Interest Issued, Shares	4,007,018
Business Acquisition, Share Price	$ 73.20
Equity Issued in Business Combination, Fair Value Disclosure	$ 293,314
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents				63,183
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables				164,026
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other				3,129
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				7,035
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets				20,345
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets				2,349,019
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable				(119,142)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities				(110,940)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other				(19,203)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other				(25,300)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities				(32,802)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities				(826,095)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net				1,522,924
Great Western Petroleum, LLC | Derivative Financial Instrument Net Assets
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities				(319,600)
Great Western Petroleum, LLC | Great Western Petroleum, LLC
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities				(170,708)
Great Western Petroleum, LLC | Proved [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				$ 2,091,301
12% GW Senior note | Great Western Petroleum, LLC
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	361,231
Cash and Cash Equivalents [Member] | Great Western Petroleum, LLC
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 1,139,553

Business Combination Schedule o

Business Combination Schedule of consideration, assets, and liabilities (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions		12 Months Ended
	May 06, 2022	Dec. 31, 2022
Business Acquisition, Contingent Consideration [Line Items]
(Adjustment to) Gain on bargain purchase	$ 90,000
Great Western Petroleum, LLC
Business Acquisition, Contingent Consideration [Line Items]
Business Combination, Consideration Transferred	$ 1,432,867
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		$ 63,183
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		7,035
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets		20,345
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		2,349,019
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities		110,940
Business Combination, Consideration Transferred, Liabilities Incurred	$ 235,822
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		19,203
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	$ 28,000	28,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other		25,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities		32,802
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		826,095
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		1,522,924
Business Acquisition, Share Price	$ 73.20
(Adjustment to) Gain on bargain purchase		90,057
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		119,142
Great Western Petroleum, LLC | Derivative Financial Instrument Net Assets
Business Acquisition, Contingent Consideration [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities		319,600
Great Western Petroleum, LLC | Cash [Member]
Business Acquisition, Contingent Consideration [Line Items]
Business Combination, Consideration Transferred	$ 543,000
Great Western Petroleum, LLC | Cash and Cash Equivalents [Member]
Business Acquisition, Contingent Consideration [Line Items]
Business Combination, Consideration Transferred	$ 1,139,553
Proved [Member] | Great Western Petroleum, LLC
Business Acquisition, Contingent Consideration [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		$ 2,091,301

Business Combination Proforma (

Business Combination Proforma (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) $ / shares
Business Combinations [Abstract]
Business Acquisition, Pro Forma Revenue | $	$ 352,347
Business Acquisition, Pro Forma Net Income (Loss) | $	$ (101,097)
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares	$ (1.01)
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares	$ (1.01)

Revenue Recognition Revenue by

Revenue Recognition Revenue by Commodity and Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue from Contract with Customer, Excluding Assessed Tax	$ 813,284	$ 882,378
Revenue year over year percentage change [Line Items]	(8.00%)
Delaware Basin
Revenue from Contract with Customer, Excluding Assessed Tax	$ 94,924	147,893
Revenue year over year percentage change [Line Items]	(36.00%)
Wattenberg Field
Revenue from Contract with Customer, Excluding Assessed Tax	$ 718,360	734,485
Revenue year over year percentage change [Line Items]	(2.00%)
Crude Oil [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 514,299	549,749
Revenue year over year percentage change [Line Items]	(6.00%)
Crude Oil [Member] | Wattenberg Field
Revenue from Contract with Customer, Excluding Assessed Tax	$ 445,846	451,911
Revenue year over year percentage change [Line Items]	(1.00%)
Crude Oil [Member] | Delaware Basin
Revenue from Contract with Customer, Excluding Assessed Tax	$ 68,453	97,838
Revenue year over year percentage change [Line Items]	(30.00%)
Natural Gas [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 161,042	163,124
Revenue year over year percentage change [Line Items]	(1.00%)
Natural Gas [Member] | Wattenberg Field
Revenue from Contract with Customer, Excluding Assessed Tax	$ 153,355	143,699
Revenue year over year percentage change [Line Items]	7%
Natural Gas [Member] | Delaware Basin
Revenue from Contract with Customer, Excluding Assessed Tax	$ 7,687	19,425
Revenue year over year percentage change [Line Items]	(60.00%)
Natural Gas Liquids [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 137,943	169,505
Revenue year over year percentage change [Line Items]	(19.00%)
Natural Gas Liquids [Member] | Wattenberg Field
Revenue from Contract with Customer, Excluding Assessed Tax	$ 119,159	138,875
Revenue year over year percentage change [Line Items]	(14.00%)
Natural Gas Liquids [Member] | Delaware Basin
Revenue from Contract with Customer, Excluding Assessed Tax	$ 18,784	$ 30,630
Revenue year over year percentage change [Line Items]	(39.00%)

Fair Value Measurements and D_3

Fair Value Measurements and Disclosures (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets and Liabilities at Fair Value
Derivative liability, gross	$ 154,548
Fair Value
Assets and Liabilities at Fair Value
Total assets	114,641	$ 57,525
Derivative liability, gross	(154,548)	(327,818)
Fair Value | Current Assets
Assets and Liabilities at Fair Value
Derivative Asset, Not Subject to Master Netting Arrangement	68,144	31,963
Fair Value | Non Current Assets
Assets and Liabilities at Fair Value
Total assets	46,497	25,562
Fair Value | Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	(125,529)	(274,218)
Fair Value | Non Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	(29,019)	(53,600)
Fair Value | Significant Other Observable Inputs (Level 2)
Assets and Liabilities at Fair Value
Total assets	74,931	29,617
Derivative liability, gross	(119,752)	(263,920)
Fair Value | Significant Other Observable Inputs (Level 2) | Current Assets
Assets and Liabilities at Fair Value
Derivative Asset, Not Subject to Master Netting Arrangement	38,181	9,178
Fair Value | Significant Other Observable Inputs (Level 2) | Non Current Assets
Assets and Liabilities at Fair Value
Total assets	36,750	20,439
Fair Value | Significant Other Observable Inputs (Level 2) | Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	(97,328)	(214,171)
Fair Value | Significant Other Observable Inputs (Level 2) | Non Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	(22,424)	(49,749)
Fair Value | Significant Unobservable Inputs (Level 3)
Assets and Liabilities at Fair Value
Total assets	39,710	27,908
Derivative liability, gross	(34,796)	(63,898)
Fair Value | Significant Unobservable Inputs (Level 3) | Current Assets
Assets and Liabilities at Fair Value
Derivative Asset, Not Subject to Master Netting Arrangement	29,963	22,785
Fair Value | Significant Unobservable Inputs (Level 3) | Non Current Assets
Assets and Liabilities at Fair Value
Total assets	9,747	5,123
Fair Value | Significant Unobservable Inputs (Level 3) | Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	(28,201)	(60,047)
Fair Value | Significant Unobservable Inputs (Level 3) | Non Current Liabilities
Assets and Liabilities at Fair Value
Derivative liability, gross	$ (6,595)	$ (3,851)

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, 2023	Mar. 31, 2022
Roll-forward of Level 3 Assets
Fair Value, net assets (liabilities), beginning of period	$ (35,990)	$ (62,540)
Fair Value, net assets (liabilities), end of period	4,914	(226,211)
Commodity Price Risk Management (loss), net
Roll-forward of Level 3 Assets
Changes in fair value included in statement of operations line item:	40,796	(209,771)
Settlements included in statement of operations line items:	108	46,100
Net change in fair value of unsettled derivatives included in statement of operations line item	$ 33,490	$ (159,118)

Fair Value Measurements and D_4

Fair Value Measurements and Disclosures of Senior Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 114,641
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	(89,682)
Derivative liability, gross	154,548
6.125% Senior Notes due 2024 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes Payable, Fair Value Disclosure	$ 199,600	$ 198,400
Senior Notes Percent of Par	99.80%	99.20%
5.75% Senior Notes due 2026 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes Payable, Fair Value Disclosure	$ 732,800	$ 716,000
Senior Notes Percent of Par	97.70%	95.50%

Impact of Derivative Instrument

Impact of Derivative Instruments on Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (86,254)	$ (161,594)
Net change in fair value of unsettled derivatives	230,386	(406,461)
Commodity price risk management gain (loss), net	144,132	(568,055)
Commodity Price Risk Management (loss), net
Derivative [Line Items]
Commodity price risk management gain (loss), net	$ 144,132	$ (568,055)

Derivative Financial Instrume_3

Derivative Financial Instruments Outstanding Derivative Contracts (Details) MMBTU in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) MMBTU $ / Unit MBbls
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ (39,907)
Natural Gas [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	38,685
Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ 24,764
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	82,136
Crude Oil [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls	6,054
Crude Oil [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls	16,077
Derivative, Fair Value, Net | $	$ (43,654)
2023 | Crude Oil [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls	4,509,000
2023 | Crude Oil [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls	7,311,000
Derivative, Fair Value, Net | $	$ (66,451)
2024 | Crude Oil [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls	1,545,000
2024 | Crude Oil [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MBbls	6,126,000
Derivative, Fair Value, Net | $	$ 3,773
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	2,640,000
Derivative, Fair Value, Net | $	$ 19,024
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	(0.26)
Natural Gas [Member] | 2024 | Fixed Price Swaps | Basis Protection - CIG [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price	(0.31)
Natural Gas [Member] | 2025 | Fixed Price Swaps | CIG [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price	(3.10)
Natural Gas [Member] | 2025 | Fixed Price Swaps | Basis Protection - CIG [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price	(0.25)
Crude Oil [Member] | 2023 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price	60.52
Derivative, Cap Price	81.92
Crude Oil [Member] | 2023 | Fixed Price Swaps | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price	(67.40)
Crude Oil [Member] | 2024 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price	63.16
Derivative, Cap Price	87.44
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	(75.10)
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	38,685
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ 24,380
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	70,766
CME SWAPS MARKETS (NYMEX) [Member] | 2023 | Natural Gas [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	18,765
CME SWAPS MARKETS (NYMEX) [Member] | 2023 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ 25,165
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	29,666
CME SWAPS MARKETS (NYMEX) [Member] | 2024 | Natural Gas [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	14,940
CME SWAPS MARKETS (NYMEX) [Member] | 2024 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ (2,608)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	26,160
CME SWAPS MARKETS (NYMEX) [Member] | 2025 | Natural Gas [Member] | Collars
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	4,980
CME SWAPS MARKETS (NYMEX) [Member] | 2025 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ 1,823
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	14,940
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | 2023 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price	3.44
Derivative, Cap Price	5.80
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	(3.04)
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | 2024 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price	3
Derivative, Cap Price	4.68
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	(3.54)
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | 2025 | Collars | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Floor Price	3.50
Derivative, Cap Price	5
CME SWAPS MARKETS (NYMEX) [Member] | Natural Gas [Member] | 2025 | Fixed Price Swaps | CME SWAPS MARKETS (NYMEX) [Member]
Derivative [Line Items]
Derivative, Swap Type, Average Fixed Price	(4.42)
Basis Protection - CIG [Member] | 2023 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ (6,227)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	47,219
Basis Protection - CIG [Member] | 2024 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ (11,306)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	41,100
Basis Protection - CIG [Member] | 2025 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ (3,484)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	19,920
Basis Protection Contracts Related to Natural Gas Marketing [Member] | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ (21,017)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	108,239
CIG [Member] | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ 384
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	11,370
CIG [Member] | 2023 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ 4,968
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	6,570
CIG [Member] | 2025 | Natural Gas [Member] | Fixed Price Swaps
Derivative [Line Items]
Derivative, Fair Value, Net | $	$ (4,584)
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU	4,800

Derivative Financial Instrume_4

Derivative Financial Instruments Impact of Netting Agreements (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Derivative Asset:
Derivative Asset, Fair Value, Gross Asset	$ 114,641
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	(89,682)
Derivative asset, net	24,959
Derivative Liability:
Derivative liability, gross	154,548
Effect of master netting agreements	(89,682)
Derivative liability, net	$ 64,866

Properties and Equipment (Detai

Properties and Equipment (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) Wells	Dec. 31, 2022 USD ($) Wells	Dec. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Document Period End Date	Mar. 31, 2023
Reclassification to Well, Facilities, and Equipment Based on Determination of Proved Reserves	$ 0	$ 0
Proved Natural Gas and Crude Oil Properties	11,696,780	11,324,756
Unproved Natural Gas and Crude Oil Properties	156,004	156,418
Total Natural Gas and Crude Oil Properties	11,852,784	11,481,174
Equipment and other	83,054	72,151
Land and Buildings	25,406	25,406
Construction in Progress	750,460	716,302
Properties and equipment, at cost	12,711,704	12,295,033
Accumulated DD&A	(5,201,392)	(5,001,678)
Property, Plant and Equipment, Net	7,510,312	7,293,355
Capitalized Exploratory Well Cost, Additions Pending Determination of Proved Reserves	2,538	0
Capitalized Exploratory Well Costs	$ 2,538	$ 0	$ 0
Wells to be completed | Wells	3	0
Capitalized Exploratory Well Costs that Have Been Capitalized for Period Greater than One Year	$ 0

Other Accrued Expense (Details)

Other Accrued Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Schedule of Other Accrued Expense [Line Items]
Asset Retirement Obligation, Current	$ 25,864
Other accrued expenses	112,294		$ 106,082
Current Liabilities
Schedule of Other Accrued Expense [Line Items]
Accrued Employee Benefits, Current	18,396		29,288
Asset Retirement Obligation, Current	25,864		25,986
Accrued Environmental Loss Contingencies, Current	23,529		25,666
Operating and Finance Lease Liability, Current	28,127	$ 5,987
Other Accrued Liabilities	16,378		19,155
Other accrued expenses	$ 112,294		$ 106,082

Other Liabilities (Details)

Other Liabilities (Details) - Non Current Liabilities - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule of Other Liabilities [Line Items]
Production Tax Liability	$ 371,863	$ 315,758
Deferred Midstream gathering credits	141,976	145,937
Operating and Finance Lease Liability, Noncurrent	63,496	41,815
Other Accrued Liabilities	28,280	29,360
Other Accrued Liabilities, Noncurrent	$ 605,615	$ 532,870

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accounts receivable [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current	$ 474,783	$ 546,311
Accounts Receivable, Allowance for Credit Loss, Current	(5,344)	(5,445)
joint interest billing
Accounts receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	56,088	46,633
Revenue, Segment Benchmark
Accounts receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	398,324	491,327
Other Accounts Receivable
Accounts receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	$ 25,715	$ 13,796

Schedule of Long-Term Debt (Det

Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Oct. 31, 2022	Sep. 30, 2022	Nov. 02, 2021
Debt Instrument
Unamortized Debt Issuance Expense	$ 6,000	$ 6,000
Debt, Long-term and Short-term, Combined Amount	1,296,491	1,314,010
Line Of Credit Facility Initial Borrowing Capacity	3,500,000		$ 3,500,000	$ 3,000,000	$ 2,400,000
Elected commitment [Member]
Debt Instrument
Line of Credit Facility, Current Borrowing Capacity	1,500,000		$ 1,500,000		$ 1,500,000
6.125% Senior Notes due 2024 [Member]
Debt Instrument
Senior Notes, Noncurrent	199,286	199,163
5.75% Senior Notes due 2026 [Member]
Debt Instrument
Senior Notes, Noncurrent	745,205	744,847
Revolving Credit Facility
Debt Instrument
Revolving credit facility	$ 352,000	$ 370,000

Long-Term Debt Additional Infor

Long-Term Debt Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Oct. 31, 2022	Sep. 30, 2022	Nov. 02, 2021
Debt Instrument
Line of Credit Facility, Remaining Borrowing Capacity	$ 1,100,000
Letters of Credit Outstanding, Amount	20,000
Line Of Credit Facility Initial Borrowing Capacity	$ 3,500,000	$ 3,500,000	$ 3,000,000	$ 2,400,000
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
6.125% Senior Notes due 2024 [Member]
Debt Instrument
Principal amount	200,000
Revolving Credit Facility
Debt Instrument
Debt Issuance Costs, Line of Credit Arrangements, Net	$ 13,000
Initial Borrowing Base [Member] | Revolving Credit Facility
Debt Instrument
Line Of Credit Facility Initial Borrowing Capacity				2,500,000
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	$ 1,500,000		$ 1,500,000

Leases Leases - Narrative (Deta

Leases Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Short-term Lease, Cost	$ 168	$ 75
Total Operating Lease Payments	$ 45

Leases Leases - Lease Assets an

Leases Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Assets and Liabilities, Lessee [Abstract]
Operating lease right-of-use assets	$ 19,577		$ 19,577
Operating lease obligation - short-term	3,824		3,825
Operating lease obligation - long-term	37,720		37,720
Finance lease right-of-use assets	6,184		6,184
Finance lease obligation - short-term	2,162		2,162
Finance lease obligation - long-term	$ 4,095		$ 4,095
Operating And Finance Lease, Weighted Average Remaining Lease Term	7 years 10 months 24 days	7 years 10 months 24 days
Operating and Finance Lease, Weighted Average Discount Rate, Percent	5.10%	5.10%

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Asset Retirement Obligation, Roll Forward Analysis
Balance at beginning of period	$ 197,651
Obligations incurred with development activities	2,888
Accretion expense	3,714	$ 2,987
Asset Retirement Obligation, Revision of Estimate	0
Obligations discharged asset retirements	(8,329)
Balance end of period	195,924
Less current portion	(25,864)
Asset retirement obligations	170,060		$ 171,665
Great Western Petroleum, LLC
Asset Retirement Obligation, Roll Forward Analysis
Obligations incurred with development activities	$ 0

Common Stock Common Stock (Deta

Common Stock Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.40	$ 0.25
Dividends, Common Stock	$ 36,000	$ 24,468

Common Stock Stock Based Compen

Common Stock Stock Based Compensation Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	May 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 6,564	$ 5,474
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	3,515,571
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	241,841

Common Stock Stock Based Comp_2

Common Stock Stock Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 6,564	$ 5,474
Stock-based Compensation - G&A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 6,218	$ 5,182

Common Stock COMMON STOCK Restr

Common Stock COMMON STOCK Restricted Stock - Time Based Awards (Details) - Restricted stock - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
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	826,792		896,511
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 46.51		$ 42.05
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	87,354
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 66.49	$ 57.57
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(156,353)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 32.01
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(720)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 60.38
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 26
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 7 months 6 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value	$ 5	$ 6

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, 2023	Mar. 31, 2022	Feb. 16, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Authorized Amount			$ 2,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Shares Payout Range	0%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Shares Payout Range	250%
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	4.40%	1.70%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	66.70%	86.30%
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	406,358			309,753
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 80.89			$ 71.76
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 110.18	$ 107.85
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 20
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	96,605
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	826,792			896,511
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 46.51			$ 42.05
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 66.49	$ 57.57
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 26
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	156,353
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 32.01
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(720)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	87,354

Common Stock COMMON STOCK Stock

Common Stock COMMON STOCK Stock Appreciation Rights (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
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	406,358		309,753
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 20
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	$ 80.89		$ 71.76
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	96,605
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 110.18	$ 107.85
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	826,792		896,511
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 26
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 46.51		$ 42.05
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	87,354
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 66.49	$ 57.57
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	156,353
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 32.01
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	720

Common Stock Preferred Stock (D

Common Stock Preferred Stock (Details) - $ / shares	Mar. 31, 2023	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 ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Feb. 16, 2023
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 2,000,000
Payments for Repurchase of Common Stock	$ 129,944	$ 80,853
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Payments for Repurchase of Common Stock	$ 129,944	$ 80,853
Common Stock, Dividends, Per Share, Declared	$ 0.40	$ 0.25
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 1,100,000
Treasury Stock, Common [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased During Period, Shares	2,059,000	1,326,000
Payments for Repurchase of Common Stock	$ (134,000)	$ (85,000)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Payments for Repurchase of Common Stock	$ (134,000)	$ (85,000)

Stock-based compensation compos

Stock-based compensation composition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	$ 6,564	$ 5,474
Stock-based Compensation - G&A
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	6,218	5,182
Stock-based Compensation - LOE
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	$ 346	$ 292

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions		3 Months Ended
	May 06, 2022	Mar. 31, 2023	Mar. 31, 2022
Operating Loss Carryforwards [Line Items]
(Adjustment to) Gain on bargain purchase	$ 90
Effective Income Tax Rate, Continuing Operations		21.40%	(3.90%)

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reconciliation of Weighted-Average Diluted Shares Outstanding
Weighted Average Number of Shares Outstanding, Basic	88,357	96,279
Weighted Average Number of Shares Outstanding, Diluted	89,228	96,279
Anti-dilutive Effect
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	114	2,424
Restricted stock
Reconciliation of Weighted-Average Diluted Shares Outstanding
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	852	0
Anti-dilutive Effect
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	82	2,281
Stock Appreciation Rights (SARs)
Reconciliation of Weighted-Average Diluted Shares Outstanding
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	19	0
Anti-dilutive Effect
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	32	143

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Interest, net of capitalized interest	$ 4,261	$ 3,825
Income taxes	0	(233)
Change in accounts payable related to capital expenditures	52,304	33,135
Asset Retirement Obligation, Period Increase (Decrease)	2,156	767
Finance Lease, Principal Payments	569	419
Cash and cash equivalents	17,443		$ 6,494
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 17,443	$ 171,157	$ 6,494	$ 33,829