Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

Leases (Tables)

12 Months Ended

Dec. 31, 2022

The following table summarizes the components of our total lease cost for the periods presented:


	Year Ended December 31,
	2022		2021		2020
Operating lease cost	$	889	$	891	$	979
Short-term lease cost	49,418		24,655		23,721
Variable lease cost	32,370		24,807		21,932
Less: Amounts charged as drilling costs 1	(43,867)		(21,213)		(20,708)
Total lease cost recognized in the consolidated statement of operations 2	$	38,810	$	29,140	$	25,924

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1 Represents the combined gross amounts paid and (i) capitalized as drilling costs for our working interest share and (ii) billed to joint interest partners for their working interest share for short-term leases of operated drilling rigs.

2 Includes $14.9 million, $10.8 million and $11.2 million recognized in GPT, $23.1 million, $17.4 million and $13.8 million recognized in Lease operating expense (“LOE”) and $0.8 million, $0.9 million and $1.0 million recognized in G&A for the years ended December 31, 2022, 2021, and 2020, respectively.

The following table summarizes supplemental cash flow information related to leases for the periods presented:


	Year Ended December 31,
	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	952	$	981	$	943
ROU assets obtained in exchange for operating lease obligations	$	118	$	—	$	388

The following table summarizes supplemental balance sheet information related to leases as of the dates presented:


		December 31,
Leases	Balance Sheet Location	2022		2021
Assets
ROU assets – operating leases	Other assets	$	989	$	1,671

Liabilities
Current operating lease obligations	Accounts payable and accrued liabilities	$	907	$	914
Non-current operating lease obligations	Other non-current liabilities	200		975
Total operating lease obligations		$	1,107	$	1,889

Schedule of Cash Flow, Supplemental Disclosures

The following table presents other information as it relates to operating leases as of the dates presented:


	December 31,
	2022		2021
Weighted-average remaining lease term – operating leases	1.5 years		2.1 years
Weighted-average discount rate – operating leases	3.33	%	3.13	%

Schedule of Lessee, Operating Lease, Liability, Maturity

As of December 31, 2022, maturities of our operating lease liabilities consisted of the following:


	December 31, 2022
2023	$	907
2024	175
2025	29
2026	26
2027	1
Total undiscounted lease payments	1,138
Less: imputed interest	(31)
Total operating lease obligations	$	1,107