Date: 3/17/2023
Form: 10-K - Annual Report
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Audit Information |
12 Months Ended |
|---|---|
Dec. 31, 2022 | |
| Auditor Information [Abstract] | |
| Auditor Firm ID | 248 |
| Auditor Location | Tulsa, Oklahoma |
| Auditor Name | GRANT THORNTON LLP |
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- Definition Natural gas gathering systems and treating plants. No definition available.
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- Definition Oil and Gas Property - Full Cost Method, Gross [Abstract] No definition available.
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- Definition Warrant liability No definition available.
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- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- References No definition available.
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Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Accounts receivable, allowance for doubtful accounts | $ 2,688 | $ 2,511 |
| Total current assets | 275,469 | 156,930 |
| Cash and cash equivalents | $ 213,975 | $ 64,140 |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 25,000,000 | 25,000,000 |
| Common stock, shares issued | 12,100,356 | 12,000,000 |
| Common stock, shares outstanding | 9,627,964 | 12,000,000 |
| Total current liabilities | $ 68,232 | $ 151,138 |
| Long-term debt (Note 9) | $ 0 | 19,200 |
| VIE | ||
| Total current assets | 61,137 | |
| Cash and cash equivalents | 17,246 | |
| Total current liabilities | 42,300 | |
| Long-term debt (Note 9) | 19,200 | |
| VIE | Asset Pledged as Collateral | ||
| Total current assets | 61,100 | |
| Assets, Noncurrent | 229,500 | |
| Total current liabilities | 42,300 | |
| Liabilities, Noncurrent | $ 21,200 |
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt classified as noncurrent. Excludes lease obligation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Details
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- Details
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Consolidated Statements of Operations - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Revenues: | ||
| Revenues | $ 545,525 | $ 638,716 |
| Operating costs: | ||
| Operating costs | 261,125 | 375,581 |
| Depreciation, depletion, and amortization | 24,143 | 64,326 |
| Impairments (Note 3) | 0 | 10,673 |
| General and administrative | 24,644 | 24,915 |
| Total operating expenses | 301,545 | 464,618 |
| Income (loss) from operations | 243,980 | 174,098 |
| Other income (expense): | ||
| Interest income | 2,642 | 2 |
| Income before income taxes | 142,874 | 48,389 |
| Net income attributable to Unit Corporation per common share (Note 7): | ||
| (Gain) loss on disposition of assets | (8,367) | (10,877) |
| Interest expense, net | (447) | (4,266) |
| Loss on derivatives | (63,610) | (97,615) |
| Loss on change in fair value of warrants (Note 17) | (29,323) | (18,937) |
| Gain (loss) on disposition of business | (13,141) | 0 |
| Reorganization items, net | (127) | (4,294) |
| Other | 2,900 | (599) |
| Total other income (expense) | (101,106) | (125,709) |
| Current | 333 | 173 |
| Deferred | 0 | 0 |
| Total provision | 333 | 173 |
| Net income | 142,541 | 48,216 |
| Net loss attributable to non-controlling interest | (5,828) | (12,431) |
| Net income attributable to Unit Corporation | $ 148,369 | $ 60,647 |
| Basic | $ 15.03 | $ 5.32 |
| Diluted | $ 14.78 | $ 5.26 |
| Oil and Gas | ||
| Revenues: | ||
| Revenues | $ 315,482 | $ 224,232 |
| Operating costs: | ||
| Operating costs | 93,350 | 79,924 |
| Contract drilling | ||
| Revenues: | ||
| Revenues | 147,370 | 76,107 |
| Operating costs: | ||
| Operating costs | 105,387 | 60,973 |
| Gas gathering and processing | ||
| Revenues: | ||
| Revenues | 82,673 | 338,377 |
| Operating costs: | ||
| Operating costs | $ 62,388 | $ 234,684 |
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of interest income earned from interest bearing assets classified as other. No definition available.
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The charge against earnings resulting from the write down of long lived assets other than goodwill due to the difference between the carrying value and lower fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Total amount of reorganization items. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Statement of Comprehensive Income [Abstract] | ||
| Net income (loss) | $ 142,541 | $ 48,216 |
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands |
Total |
Error in the Allocation of Earnings from Superior between Unit Corp and Noncontrolling Interests
Revision Of Prior Period Error Correction Adjustments
|
Common Stock |
Treasury Stock |
Capital In Excess of Par Value |
Retained Earnings (Deficit) |
Retained Earnings (Deficit)
Error in the Allocation of Earnings from Superior between Unit Corp and Noncontrolling Interests
Revision Of Prior Period Error Correction Adjustments
|
Non-controlling Interest in Consolidated Subsidiaries |
Non-controlling Interest in Consolidated Subsidiaries
Error in the Allocation of Earnings from Superior between Unit Corp and Noncontrolling Interests
Revision Of Prior Period Error Correction Adjustments
|
|---|---|---|---|---|---|---|---|---|---|
| Beginning balance at Dec. 31, 2020 | $ 425,593 | $ 0 | $ 120 | $ 197,242 | $ (18,140) | $ (1,436) | $ 246,371 | $ 1,436 | |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
| Net income (loss) | 48,216 | 60,647 | (12,431) | ||||||
| Stock-based compensation | 960 | 929 | 31 | ||||||
| Distributions to non-controlling interests | (23,136) | (23,136) | |||||||
| Repurchases of common stock | (51,965) | $ 51,965 | |||||||
| Ending balance at Dec. 31, 2021 | 399,668 | 120 | (51,965) | 198,171 | 41,071 | 212,271 | $ 1,400 | ||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
| Net income (loss) | 142,541 | 148,369 | (5,828) | ||||||
| Stock-based compensation | 6,718 | 6,718 | |||||||
| Distributions to non-controlling interests | (9,479) | (9,479) | |||||||
| Repurchases of common stock | (27,434) | (27,434) | |||||||
| Vesting of restricted stock units, net of shares withheld for employee taxes | (1,242) | 1 | (1,243) | ||||||
| Exercise of stock options, net of shares withheld for taxes and exercise price | (327) | (327) | |||||||
| Deconsolidation of Superior | (196,964) | (196,964) | |||||||
| Warrant reclassified | 49,145 | 49,145 | |||||||
| Ending balance at Dec. 31, 2022 | $ 362,626 | $ 121 | $ (79,399) | $ 252,464 | $ 189,440 | $ 0 |
| X | ||||||||||
- Definition Stock Issued During Period, Value, Stock Options Exercised, Net Of Shares Withheld No definition available.
|
| X | ||||||||||
- Definition Warrant Reclassified No definition available.
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The amount of the reduction or elimination during the period of a noncontrolling interest resulting from the parent's loss of control and deconsolidation of the entity in which one or more outside parties had a noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Value, after value of shares used to satisfy grantee's tax withholding obligation for award under share-based payment arrangement, of restricted shares issued. Excludes cash used to satisfy grantee's tax withholding obligation. No definition available.
|
| X | ||||||||||
- Definition Value, after forfeiture, of shares granted under share-based payment arrangement. Excludes employee stock ownership plan (ESOP). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| OPERATING ACTIVITIES: | ||
| Net income (loss) | $ 142,541 | $ 48,216 |
| Adjustments to reconcile net income operating activities: | ||
| Depreciation, depletion, and amortization | 24,143 | 64,326 |
| Impairments (Note 3) | 0 | 10,673 |
| Loss on derivatives (Note 16) | 63,610 | 97,615 |
| Cash payments on derivatives settled (Note 16) | (98,775) | (44,591) |
| Loss on change in fair value of warrants (Note 17) | 29,323 | 18,937 |
| Gain on disposition of assets | (8,367) | (10,877) |
| Loss on deconsolidation of Superior (Note 19) | 13,141 | 0 |
| Stock-based compensation plans (Note 15) | 6,718 | 929 |
| Other, net | 3,382 | 5,855 |
| Changes in operating assets and liabilities increasing (decreasing) cash: | ||
| Accounts receivable | (10,699) | (31,034) |
| Prepaid expenses and other | (2,064) | (4,953) |
| Accounts payable | (3,234) | 23,141 |
| Accrued liabilities | (265) | (3,331) |
| Income taxes | 127 | 1,160 |
| Contract advances | (160) | (97) |
| Net cash provided by operating activities | 159,421 | 175,969 |
| INVESTING ACTIVITIES: | ||
| Capital expenditures | (30,386) | (30,305) |
| Deconsolidated Superior cash and cash equivalents (Note 19) | (10,119) | 0 |
| Other acquisitions | 0 | 13,000 |
| Proceeds from disposition of property and equipment | 69,401 | 79,510 |
| Net cash provided by investing activities | 28,896 | 36,205 |
| FINANCING ACTIVITIES: | ||
| Borrowings under line of credit | 4,800 | 65,300 |
| Payments under line of credit | (4,800) | (145,100) |
| Cash payments made on finance leases | 0 | 3,216 |
| Employee taxes paid by withholding shares | (1,569) | 0 |
| Distributions to non-controlling interest (Note 19) | (9,479) | (23,136) |
| Repurchase of common stock (Note 6) | (27,434) | (51,965) |
| Bank overdrafts | 0 | (2,631) |
| Net Cash Provided by (Used in) Financing Activities, Total | (38,482) | (160,748) |
| Net increase (decrease) in cash and cash equivalents | 149,835 | 51,426 |
| Cash, restricted cash, cash equivalents, beginning of year | 64,140 | 12,714 |
| Cash, restricted cash, cash equivalents, end of year | 213,975 | 64,140 |
| Supplemental disclosure of cash flow information: | ||
| Interest paid (net of capitalization) | 589 | 4,769 |
| Income taxes | 173 | 0 |
| Reorganization items | (50) | 4,283 |
| Changes in accounts payable and accrued liabilities related to purchases of property, plant, and equipment | 3,062 | (1,249) |
| Non-cash reductions (increases) to oil and natural gas properties related to asset retirement obligations | 4,324 | 4,412 |
| Non-cash (additions) reductions to oil and natural gas properties related to net changes in asset retirement obligations, accounts receivable, accounts payable, and accrued liabilities resulting from divestitures | $ 8,984 | $ 2,218 |
| X | ||||||||||
- Definition Derivative Instruments Not Designated Amount Paid (Received) During Period No definition available.
|
| X | ||||||||||
- Definition IncreaseDecreaseInAccountsPayableRelatedToPurchasesOfPropertyPlantAndEquipment No definition available.
|
| X | ||||||||||
- Definition Noncash or Part Noncash Acquisition, Other No definition available.
|
| X | ||||||||||
- Definition Payments (Proceeds) From Reorganization Items No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Reduction in cash due to no longer including the former subsidiary's cash in the consolidated entity's cash. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of gain (loss) from deconsolidation of subsidiary and derecognition of group of assets constituting transfer of business or nonprofit activity, excluding conveyance of oil and gas mineral rights and transfer of good or service in contract with customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash outflow for principal payment on finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of assets utilized in financial service operations. No definition available.
|
| X | ||||||||||
- Definition The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in obligation to transfer good or service to customer for which consideration has been received or is receivable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to taxing authorities for taxes that are based on the reporting entity's earnings, net of amounts receivable from taxing authorities for refunds of overpayments or recoveries of income taxes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of fixed assets that an Entity acquires in a noncash (or part noncash) acquisition. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The charge against earnings resulting from the write down of long lived assets other than goodwill due to the difference between the carrying value and lower fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of income (expense) included in net income that results in no cash inflow (outflow), classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow associated with other payments to acquire businesses including deposit on pending acquisitions and preacquisition costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash outflow to satisfy grantee's tax withholding obligation for award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash outflow to a noncontrolling interest. Includes, but not limited to, reduction of noncontrolling interest ownership. Excludes dividends paid to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The net cash inflow or outflow from the excess drawing from an existing cash balance, which will be honored by the bank but reflected as a loan to the drawer. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The cash inflow from the sale of property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
ORGANIZATION AND BUSINESS |
12 Months Ended |
|---|---|
Dec. 31, 2022 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| ORGANIZATION AND BUSINESS | ORGANIZATION AND BUSINESS Unless the context clearly indicates otherwise, references in this report to “Unit”, “Company”, “we”, “our”, “us”, or like terms refer to Unit Corporation or, as appropriate, one or more of its subsidiaries. References to our mid-stream segment refers to Superior of which we own 50%. We are primarily engaged in the development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing, and treating of natural gas. Our operations are all located in the United States and are organized as the following three reporting segments: Oil and Natural Gas. Carried out by our subsidiary, Unit Petroleum Company (UPC), we develop, acquire, and produce oil and natural gas properties for our own account. Our producing oil and natural gas properties, unproved properties, and related assets are primarily located in Oklahoma and Texas, and to a lesser extent, in Arkansas, Kansas, Louisiana, and North Dakota. Contract Drilling. Carried out by our subsidiary, Unit Drilling Company (UDC), we drill onshore oil and natural gas wells for a wide range of other oil and natural gas companies as well as for our own account. Our drilling operations are primarily located in Oklahoma, Texas, New Mexico, Wyoming, and North Dakota. Mid-Stream. Carried out by Superior of which we own 50%. Superior buys, sells, gathers, transports, processes, and treats natural gas for UPC and for third parties. Mid-Stream operations are primarily located in Oklahoma, Texas, Kansas, Pennsylvania, and West Virginia.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
12 Months Ended |
|---|---|
Dec. 31, 2022 | |
| Accounting Policies [Abstract] | |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation. The consolidated financial statements include the accounts of Unit Corporation and its subsidiaries. We consolidated the financial position, operating results, and cash flows of Superior prior to March 1, 2022, on which date the Master Services and Operating Agreement (MSA) was amended and restated, with the result that we no longer consolidate Superior's financial position, operating results, and cash flows during periods subsequent to March 1, 2022. Accordingly, the 2022 consolidated financial statements and notes reflect Superior activity on a consolidated basis for the two months prior to March 1, 2022. See Note 19 – Superior Investment for more information on the Superior investment and consolidation conclusions. All intercompany transactions and accounts between consolidated entities have been eliminated, including activity between Unit and Superior during the two months prior to March 1, 2022. Affiliate transactions and accounts between Unit and Superior subsequent to March 1, 2022 are not eliminated. During 2021, management identified an error in the initial allocation of equity between Unit Corporation and non-controlling interests as of the September 3, 2020 fresh start accounting date. The impact of the error was not material to any of our prior period financial statements and the error was corrected with one-time adjustment during the year ended December 31, 2021. As a result, during the year ended December 31, 2021, retained earnings (deficit) was reduced by $1.4 million with a corresponding decrease to non-controlling interest in consolidated subsidiaries. Certain amounts presented for prior periods have been reclassified to conform to current year presentation. There was no impact from these reclassifications to consolidated net income or shareholders' equity. We evaluated our disclosure of subsequent events through March 17, 2023, the date the consolidated financial statements were issued. Accounting Estimates. Preparing financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the consolidated financial statements. Actual results could differ from those estimates. Significant estimates and assumptions include: •oil and gas reserves quantities and values; •full cost ceiling test and impairment assessments for property and equipment; •asset retirement obligations; •fair value of commodity derivative assets and liabilities; •fair value of the warrant liability; •fair value of stock-based compensation grants or modifications; •workers' compensation liabilities; •fair value of our retained investment in Superior; •contingency, litigation, and environmental liabilities; and •realizability of deferred tax assets. Cash and Cash Equivalents. We include as cash and cash equivalents all cash on hand and on deposit, as well as highly liquid investments with maturities of three months or less which are readily convertible into known amounts of cash. The financing section of our consolidated statements of cash flows reflects bank overdraft activity. Bank overdrafts are checks issued before the end of the period, but not presented to our bank for payment before the end of the period. There were no bank overdrafts as of December 31, 2022 or December 31, 2021. Accounts Receivable, Net of Allowance for Credit Losses. Accounts receivable are carried on a gross basis, with no discounting, less an allowance for expected credit losses. We estimate the allowance for credit losses based on existing economic conditions, the financial condition of our customers, and the amount and age of past due accounts. Receivables are considered past due if full payment is not received by the contractual due date. Past due accounts are generally written off against the allowance for credit losses only after all collection attempts have been unsuccessful. Property and Equipment. Oil and Natural Gas Properties. We account for our oil and natural gas exploration and development activities using the full cost method of accounting prescribed by the SEC under which we capitalize all productive and non-productive costs incurred in connection with the acquisition, exploration, and development of our oil, NGLs, and natural gas reserves, including directly related overhead costs and related asset retirement costs. We did not capitalize any directly related overhead costs for the years ended December 31, 2022 and 2021. Capitalized costs are amortized on a units-of-production method based on proved oil and natural gas reserves. The calculation of DD&A includes all capitalized costs, estimated future expenditures to be incurred in developing proved reserves, and estimated dismantlement and abandonment costs, net of estimated salvage values less accumulated amortization, unproved properties, and equipment not placed in service. The average rates used for DD&A were $1.49 and $2.67 per Boe for the years ended December 31, 2022 and 2021, respectively. Our contract drilling segment may provide drilling services for our oil and natural gas segment. Revenues and expenses from these services are eliminated in our consolidated statements of operations, with any recognized profit reducing the cost of our oil and natural gas properties. We eliminated contract drilling revenues and capitalized oil and natural gas costs of $0.1 million during the year ended December 31, 2022. There were no intercompany drilling services provided for elimination during the year ended December 31, 2021. No gains or losses are recognized on the sale, conveyance, or other disposition of oil and natural gas properties unless it results in a significant alteration to our full cost pool. Drilling equipment, gas gathering and processing equipment, transportation equipment, and other property and equipment. Drilling equipment, gas gathering and processing equipment, transportation equipment, and other property and equipment are carried at cost less accumulated depreciation. Renewals and enhancements are capitalized while repairs and maintenance are expensed. We depreciate all drilling assets utilizing the straight-line method over the estimated useful lives of the assets, typically ranging from four to ten years. Depreciation of other property and equipment is computed using the straight-line method over the estimated useful lives of the assets, typically ranging from three to 15 years. Impairment and disposal. We review the carrying amounts of long-lived assets for potential impairment when events or changes in circumstances suggest the carrying amounts may not be recoverable. Changes that could prompt an assessment include equipment obsolescence, declines in the market demand for a an asset, declines in commodity prices, periods of relatively low drilling rig utilization, declining revenue or cash margin per day, or overall unfavorable changes in general market conditions. Assets are determined to be impaired if a forecast of undiscounted estimated future net operating cash flows directly related to the asset, including disposal value, if any, is less than the carrying amount of the asset. If any asset is determined to be impaired, the loss is measured as the amount by which the carrying asset exceeds its fair value. The estimate of fair value is based on the best information available, including prices for similar assets. Changes in these estimates could cause us to reduce the carrying value of property and equipment. Asset impairment evaluations are, by nature, highly subjective. They involve expectations about future cash flows generated by our assets and reflect our assumptions and judgments regarding future industry conditions and their effect on future utilization levels, dayrates, and costs. Using different estimates and assumptions could result in materially different carrying values of our assets. When property and equipment components are disposed of, the cost and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is generally reflected in income from operations. For dispositions of drill pipe and drill collars, an average cost for the appropriate feet of drill pipe and drill collars is removed from the asset account and charged to accumulated depreciation and proceeds, if any, are credited to accumulated depreciation unless proceeds would exceed remaining cost, in which case excess proceeds are recorded as a gain on disposition of assets. Capitalized Interest. Interest costs associated with major asset additions are capitalized during the construction period using a weighted average interest rate based on our outstanding borrowings. We did not capitalize any interest costs during the years ended December 31, 2022 and 2021. Leases. We enter into various agreements to lease equipment and buildings, and we review each agreement to determine if they contain operating or finance leases with a term greater than 12 months. We recognize a lease liability on identified leases for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term based on the present value of lease payments over the lease term which includes all noncancelable periods as well as periods covered by options to extend the lease that we are reasonably certain to exercise. Leases with an initial term of 12 months or less are not recorded as a lease right-of-use asset and liability. Most leases are valued using an incremental borrowing rate, which is determined based on information available at the commencement date of a lease, as an implicit borrowing rate cannot be determined under most of our leases. Leases may include renewal, purchase or termination options that can extend or shorten the term of the lease. These options are evaluated at inception and throughout the contract term to determine if a modification of the lease term is required. Leases with an initial term of 12 months or less are not recorded as a lease right-of-use asset and liability. Expenses related to leases determined to be operating leases will be recognized on a straight-line basis over the lease term including any reasonably certain renewal periods, while those determined to be finance leases will be recognized following a front-loaded expense profile in which interest and amortization are presented separately in the consolidated statements of operations. The determination of whether a lease is accounted for as a finance lease or an operating lease requires management's estimates of the fair value of the underlying asset and its estimated economic useful life, among other considerations. ARO. We record the estimated fair value of the liabilities relating to the future retirement of our long-lived assets. Our oil and natural gas wells are plugged and abandoned when the oil and natural gas reserves in those wells are depleted or the wells are no longer able to produce. The estimated liabilities related to these future costs are recorded at the time the wells are drilled or acquired. We use historical experience to determine the estimated plugging costs considering the well's type, depth, physical location, and ultimate productive life. A risk-adjusted discount rate and an inflation factor are applied to estimate the present value of these obligations. We depreciate the capitalized asset retirement cost and accrete the obligation over time. Revisions to the obligations and assets are recognized at the appropriate risk-adjusted discount rate with a corresponding adjustment made to the full cost pool. Our mid-stream investment has property and equipment at locations leased or under right of way agreements which may require asset removal or site restoration, however, prior to the deconsolidation of Superior, we were not able to reasonably measure the fair value of the obligations as the potential settlement dates were indeterminable. Insurance. We are self-insured for certain losses relating to workers’ compensation, control of well, and employee medical benefits. Insured policies for other coverage contain deductibles or retentions per occurrence that range from zero to $1.0 million. We have purchased stop-loss coverage to limit, to the extent feasible, per occurrence and aggregate exposure to certain types of claims. There is no assurance that the insurance coverages we have will adequately protect us against liability from all potential consequences. If insurance coverage becomes more expensive, we may choose to self-insure, decrease our limits, raise our deductibles, or any combination of these rather than pay higher premiums. Commodity Derivatives. All commodity derivatives are recognized on the consolidated balance sheets as either an asset or liability measured at fair value and all our commodity derivative counterparties are subject to master netting agreements. We net the value of the derivative transactions with the same counterparty if a legal right to set-off exists. Changes in the fair value of our commodity derivatives and gains or losses on commodity derivative settlement are reported in loss on derivatives in our consolidated statements of operations. Cash settlements received or paid for matured, early-terminated, and/or modified derivatives are reported in cash payments on derivatives settled in our consolidated statements of cash flows. Income Taxes. Income taxes are recognized based on earnings reported for tax return purposes in addition to a provision for deferred income taxes. Deferred income taxes are recognized at the end of each reporting period for the future tax consequences of cumulative temporary differences between the tax basis of assets and liabilities and their reported amounts in the Company’s consolidated financial statements based on existing tax laws and enacted statutory tax rates applicable to the periods in which the temporary differences are expected to affect taxable income. U.S. GAAP requires the recognition of a deferred tax asset for net operating loss carryforwards and tax credit carryforwards. We periodically assesses the realizability of the deferred tax assets by considering all available evidence (both positive and negative) to determine whether it is more likely than not that all or a portion of the deferred tax assets will not be realized and a valuation allowance is required. Natural Gas Balancing. When there are insufficient remaining reserves to offset a gas imbalance, we recognize an asset or a liability for the under-produced or over-produced position. We have recorded a receivable of $3.5 million and a liability of $4.3 million as of December 31, 2022 on certain properties where we estimate that insufficient reserves are available for us to recover our under-production from future production volumes or insufficient reserves available to allow the under-produced owners to recover their under-production from future production volumes, respectively. Our policy is to expense the pro-rata share of lease operating costs from all wells as incurred. Such expenses relating to the balancing position on wells in which we have imbalances are not material. Stock-Based Compensation. We recognize the cost of stock-based compensation over the requisite service periods, which is generally the vesting period, based on the grant date fair value of those awards and account for forfeitures as they occur. Warrant Liability. Prior to the determination of the initial exercise price, we recognized the fair value of the warrants as a derivative liability on our consolidated balance sheets with changes in the liability reported as loss on change in fair value of warrants in our consolidated statements of operations. On April 7, 2022, the Company delivered notice of the initial $63.74 exercise price resulting in the warrants meeting the definition of an equity instrument. Accordingly, we recognized the change in the fair value of the warrant liability in our unaudited condensed consolidated statements of operations and reclassified the $49.1 million warrant liability to capital in excess of par value on the unaudited condensed consolidated balance sheets as of April 7, 2022. The warrants will continue to be reported as capital in excess of par value and are no longer subject to future fair value adjustments.
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- References No definition available.
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- Definition The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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IMPAIRMENTS |
12 Months Ended |
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Dec. 31, 2022 | |
| Property, Plant and Equipment [Abstract] | |
| IMPAIRMENTS | IMPAIRMENTS Oil and Natural Gas Properties and Contract Drilling There were no impairments recorded during the years ended December 31, 2022 or 2021. Mid-Stream 2022 There were no impairments recorded during the year ended December 31, 2022. 2021 In December 2021, we determined that the carrying value of a gathering system in Pennsylvania was not recoverable and exceeded its estimated fair value due to unfavorable forecasted economics. We recorded non-cash impairment charges of $10.7 million based on the estimated fair value of the asset group. These charges are included within impairments in our consolidated statements of operations.
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- References No definition available.
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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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REVENUE FROM CONTRACTS WITH CUSTOMERS |
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| REVENUE FROM CONTRACTS WITH CUSTOMERS | REVENUE FROM CONTRACTS WITH CUSTOMERS Our revenue streams are reported under three segments: oil and natural gas, contract drilling, and mid-stream which is consistent with how we report our segment revenue in Note 22 – Industry Segment Information. Revenue from the oil and natural gas segment is from sales of our oil and natural gas production. Revenue from the contract drilling segment comes from contracting with upstream companies to drill an agreed-on number of wells or provide drilling rigs and services over an agreed-on period. Revenues from the mid-stream segment are generated from the fees earned for gas gathering and processing services provided to a customer or by selling of hydrocarbons to other mid-stream companies. Oil and Natural Gas Revenue Typical types of revenue contracts entered into by our oil and gas segment are Oil Sales Contracts, North American Energy Standards Board (NAESB) Contracts, Gas Gathering and Processing Agreements, and revenues earned as the non-operated party with the operator serving as an agent on our behalf under joint operating agreements. Consideration received is variable and settled monthly while contract terms can range from a single month or evergreen to terms of a decade or more. Revenues from oil and natural gas sales are recognized when the customer obtains control of the sold product which typically occurs at the point of delivery to the customer. Certain costs, as either a deduction from revenue or as an expense, are determined based on when control of the commodity is transferred to our customer, which would affect our total revenue recognized, but will not affect gross profit. For example, gathering, processing and transportation costs are included as part of the contract price with the customer on transfer of control of the commodity are included in the transaction price, while costs incurred while we are in control of the commodity represent operating costs. Contract Drilling Revenue Contract drilling revenues and expenses are primarily recognized as services are performed and collection is reasonably assured. Payments for mobilization and demobilization activities do not relate to a distinct good or service within the contract, but are recognized as revenue when received as deferral for ratable recognition over the contract term is not material to the consolidated financial statements. Costs incurred to relocate rigs and other drilling equipment to areas in which a contract has not been secured are expensed as incurred and any reimbursements received for out-of-pocket expenses are recorded as both revenues and direct costs. Most of our drilling contracts have a term of one year or less and the remaining performance obligations under the contracts without a fixed term are not material. Mid-Stream Revenue The typical revenue contracts used by this segment are gas gathering and processing agreements as well as product sales. Superior recognizes sales revenue at the point in time when control transfers to the purchaser, typically at a specified delivery point, based on the contractually agreed upon fixed or index-based price received. Contracts for gas gathering and processing services may include terms for demand fees or shortfall fees. Demand fees or shortfall fees exist in arrangements where a customer agrees to pay a fixed fee for a contractually agreed upon pipeline capacity or shortfall fees for any minimum volumes not utilized, which create performance obligations for each individual period of reservation. Revenue for these fees is recognized once the services have been completed, the customer no longer has access to the contracted capacity, or the likelihood of the customer exercising all or a portion of their remaining rights becomes remote. Contract Assets and Liabilities The table below presents the changes in our contract asset and contract liability balances during periods indicated:
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- References No definition available.
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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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ACQUISITIONS AND DIVESTITURES |
12 Months Ended |
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Dec. 31, 2021 | |
| Acquisitions and Divestitures [Abstract] | |
| ACQUISITIONS AND DIVESTITURES | ACQUISITIONS AND DIVESTITURES Oil and Natural Gas The Company initiated an asset divestiture program at the beginning of 2021 to sell certain non-core oil and gas properties and reserves (the Divestiture Program). On October 4, 2021, the Company announced that it was expanding the Divestiture Program to include the potential sale of additional properties, including up to all of UPC’s oil and gas properties and reserves, and on January 20, 2022, the Company announced that it had retained a financial advisor and launched the process. On June 10, 2022, the Company announced that it had ended its engagement with the financial advisor and terminated the process. During the process, the Company entered into an agreement to sell its Texas Gulf Coast oil and gas properties. On July 1, 2022, the Company closed on the sale of certain wells and related leases near the Texas Gulf Coast for cash proceeds of $45.4 million, net of customary closing and post-closing adjustments based on an effective date of April 1, 2022. These proceeds reduced the net book value of our full cost pool with no gain or loss recognized as the sale did not result in a significant alteration of the full cost pool. On March 8, 2022, the Company closed on the sale of certain non-core wells and related leases located near the Oklahoma Panhandle for cash proceeds of $3.6 million, net of customary closing and post-closing adjustments based on an effective date of December 1, 2021. These proceeds reduced the net book value of our full cost pool with no gain or loss recognized as the sale did not result in a significant alteration of the full cost pool. On August 16, 2021, the Company closed on the sale of substantially all of our wells and related leases located near Oklahoma City, Oklahoma for cash proceeds of $16.1 million, net of customary closing and post-closing adjustments based on an effective date of August 1, 2021. These proceeds reduced the net book value of our full cost pool with no gain or loss recognized as the sale did not result in a significant alteration of the full cost pool. On May 6, 2021, the Company closed on the sale of substantially all of our wells and the leases related thereto located in Reno and Stafford Counties, Kansas for cash proceeds of $7.3 million, net of customary closing and post-closing adjustments based on an effective date of February 1, 2021. These proceeds reduced the net book value of our full cost pool with no gain or loss recognized as the sale did not result in a significant alteration of the full cost pool. Net proceeds for the sale of other non-core oil and natural gas assets totaled $7.7 million and $5.0 million during the twelve months ended December 31, 2022 and 2021, respectively. These proceeds reduced the net book value of our full cost pool with no gain or loss recognized as the sales did not result in a significant alteration of the full cost pool. Contract Drilling Proceeds for the sale of non-core contract drilling assets totaled $12.8 million and $12.7 million during the twelve months ended December 31, 2022 and 2021, respectively. These proceeds resulted in net gains of $8.4 million and $10.1 million during the twelve months ended December 31, 2022 and 2021, respectively. The net gains are presented within gain on disposition of assets in the consolidated statements of operations. Mid-Stream In November 2021, Superior closed on an acquisition for $13.0 million, subject to customary closing and post-closing adjustments, that included a cryogenic processing plant, approximately 1,620 miles of low-pressure gathering pipeline, and related compressor stations located in southern Kansas. The transaction was accounted for as an asset acquisition. There was no significant divestiture activity during the years ended December 31, 2022 and 2021. Corporate and Other On September 17, 2021, we closed the sale of our corporate headquarters building and land for $35.0 million, subject to customary closing and post-close adjustments resulting in a gain of $0.9 million net of $2.2 million of transaction costs. In conjunction with the closing, we entered into a multi-year lease for a portion of the building.
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- Definition Acquisitions and Divestitures [Abstract] No definition available.
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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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SHAREHOLDERS' EQUITY AND DIVIDENDS |
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| SHAREHOLDERS' EQUITY AND DIVIDENDS | SHAREHOLDERS' EQUITY AND DIVIDENDS Common Stock On September 3, 2020 (Emergence Date), the Company emerged from Chapter 11 bankruptcy and issued a total of 12.0 million shares of common stock at a par value of $0.01 per share (New Common Stock) to be subsequently distributed in accordance with the Chapter 11 plan of reorganization filed with the bankruptcy court on June 9, 2020 (as amended, supplemented and modified from time to time, the “Plan”). On February 21, 2023, a final decree was approved to close the remaining Chapter 11 case and grant related relief. As a result, any shares of common stock not yet claimed were deemed unclaimed property and have been treated as reductions to the number of shares of common stock issued and outstanding as of February 21, 2023. All shares of New Common Stock are subject to the transfer restrictions in the Company’s Amended and Restated Certificate of Incorporation (Charter). Article XIV of the Charter provides that, subject to the exceptions provided in Article XIV, any attempted transfer of the Company's common stock will be prohibited and void ab initio if (i) because of the transfer, any person becomes a Substantial Stockholder (as defined below) other than by reason of Treasury Regulations section 1.382-2T(j)(3) or (ii) the Percentage Stock Ownership (as defined in the Charter) interest of any Substantial Stockholder will be increased. A “Substantial Stockholder” means a person with a Percentage Stock Ownership of 4.75% or more. Common Stock Repurchases The table below presents the common stock repurchase activity during the periods indicated:
1) In June 2021, the Company's Board of Directors (the Board) authorized repurchasing up to $25.0 million of the Company’s outstanding common stock. The Board subsequently authorized increases to the authorized repurchases up to $50.0 million in October 2021 and then up to $100.0 million in June 2022. The repurchases are made through open market purchases, privately negotiated transactions, or other available means. The Company has no obligation to repurchase any shares under the repurchase program and may suspend or discontinue it at any time without prior notice. As of December 31, 2022, we had repurchased a total of 1,794,392 shares under the repurchase program at an average share price of $38.37 for an aggregate purchase price of $68.9 million. 2) In June 2021, we repurchased our common stock from the Lenders (as defined in Note 9 - Long-Term Debt and Other Long-Term Liabilities) which received these shares as an exit fee during our reorganization. 3) During the year ended December 31, 2021, we repurchased shares in a privately negotiated transaction which was not part of the repurchase program. The cumulative number of shares repurchased as of December 31, 2022 totaled 2,472,392. The cash purchase price and any direct acquisition costs are reflected as treasury stock on the consolidated balance sheets. Warrants Each holder of Unit common stock outstanding (Old Common Stock) before the Emergence Date that did not opt out of the release under the Plan is entitled to receive 0.03460447 warrants for every share of Old Common Stock owned. Each warrant is exercisable for one share of common stock, subject to adjustment as provided in the Warrant Agreement. The warrants expire on the earliest of (i) September 3, 2027, (ii) consummation of a Cash Sale (as defined in the Warrant Agreement), or (iii) the consummation of a liquidation, dissolution or winding up of the Company. As of December 31, 2022, the Company had authorized 1,822,231 warrants and none had been exercised. Among other provisions, the Warrant Agreement outlines potential adjustments to the warrants if certain events occur, including (i) stock dividends payable in shares of common stock or stock splits, (ii) reverse stock splits or similar combination events, (iii) Liquidity Events (as defined in the Warrant Agreement), and (iv) other events not explicitly contemplated which may have an adverse impact to the intent and purpose of the warrants as set forth in the Plan, provided, however, the warrants will not be adjusted for (a) any issuances of securities in connection with a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination, (b) the issuance of any securities by Unit on or after the Effective Date (as defined in the Plan) pursuant to the Plan or upon the issuance of shares of common stock upon the exercise of such securities, (c) the issuance of any shares of common stock pursuant to the exercise of the warrants, (d) the issuance of shares of common stock pursuant to any management stock option incentive or similar plan, (e) a dividend or distribution to holders of common stock of cash, property, or securities (other than common stock), and/or (f) any change in the par value of the common stock. Pursuant to the terms of the Warrant Agreement, the Company determined the initial exercise price of the warrants to be $63.74. On April 7, 2022, the Company delivered notice of the initial exercise price to the Warrant Agent and the warrants became exercisable for shares of the Company’s common stock. On or about April 25, 2022, the warrants began trading over-the-counter under the symbol "UNTCW". See Note 16 - Derivatives for more information on how the warrants are treated in our consolidated financial statements. Dividends There were no dividends paid by the Company during the years ended December 31, 2022 and 2021. On January 31, 2023, the Company paid a special cash dividend of $10.00 per share totaling $96.1 million to stockholders of record as of the close of business on January 20, 2023.
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- References No definition available.
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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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EARNINGS (LOSS) PER SHARE |
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| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EARNINGS (LOSS) PER SHARE | EARNINGS PER SHARE The table below shows the calculation of earnings per share attributable to Unit Corporation using the treasury stock method for the periods indicated:
1.The diluted earnings per share calculation for the year ended December 31, 2022 excludes the effects related to 355,827 average outstanding stock options with a $45.00 exercise price and 1,822,206 average warrants with a $63.74 exercise price because their inclusion would be antidilutive. 2.The diluted earnings per share calculation for the year ended December 31, 2021 excludes the effect related to 361,418 average outstanding stock options with a $45.00 exercise price because their inclusion would be antidilutive.
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- References No definition available.
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- Definition The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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ACCRUED LIABILITIES |
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| Accrued Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCRUED LIABILITIES | ACCRUED LIABILITIES The table below presents the components of accrued liabilities:
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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES |
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| Long-term debt and other long-term liabilites [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES | LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES Long-Term Debt The table below presents the individual components of long-term debt:
1.Unit Corporation no longer consolidates the balance sheet of Superior as of December 31, 2022, as discussed in Note 2 - Summary Of Significant Accounting Policies and Note 19 - Superior Investment. Exit Credit Agreement. On the Emergence Date, the Company entered into an amended and restated credit agreement (the Exit credit agreement), providing for a $140.0 million senior secured revolving credit facility (RBL Facility) and a $40.0 million senior secured term loan facility, among (i) the Company, UDC, and UPC (together, the Borrowers), (ii) the guarantors party thereto, including the Company and all of its subsidiaries existing as of the Effective Date (other than Superior and its subsidiaries), (iii) the lenders party thereto from time to time (Emergence Lenders), and (iv) BOKF, NA dba Bank of Oklahoma as administrative agent and collateral agent (in such capacity, the Administrative Agent). The maturity date of borrowings under the Exit credit agreement is March 1, 2024. The Exit credit agreement is secured by first-priority liens on substantially all of the personal and real property assets of the Borrowers and the Guarantors, including the Company’s ownership interests in Superior. Prior to the November 1, 2022 amendment described below, Revolving Loans and Term Loans (each as defined in the Exit credit agreement) were able to be Eurodollar Loans or ABR Loans (each as defined in the Exit credit agreement). Revolving Loans that were Eurodollar Loans bore interest at a rate per annum equal to the Adjusted LIBO Rate (as defined in the Exit credit agreement) for the applicable interest period plus 525 basis points while Revolving Loans that were ABR Loans bore interest at a rate per annum equal to the Alternate Base Rate (as defined in the Exit credit agreement) plus 425 basis points. Term Loans that were Eurodollar Loans bore interest at a rate per annum equal to the Adjusted LIBO Rate for the applicable interest period plus 625 basis points while Term Loans that were ABR Loans bore interest at a rate per annum equal to the Alternate Base Rate plus 525 basis points. On April 6, 2021, the Company finalized the first amendment to the Exit credit agreement. Under the first amendment, the Company reaffirmed its borrowing base of $140.0 million of the RBL Facility, amended certain financial covenants, and received less restrictive terms, among others, as it relates to the disposition of assets and the use of proceeds from those dispositions. On July 27, 2021, the Company finalized the second amendment to the Exit credit agreement. Under the second amendment, the Company obtained confirmation that the Term Loan had been paid in full prior to the amendment date and received one-time waivers related to the disposition of assets. On October 19, 2021, the Company finalized the third amendment to the Exit credit agreement. Under the third amendment, the Company requested, and was granted, a reduction in the RBL Facility borrowing base from $140.0 million to $80.0 million in addition to less restrictive terms as it relates to capital expenditures, required hedges, and the use of proceeds from the disposition of certain assets, while also amending certain financial covenants. On March 30, 2022, the RBL Facility borrowing base of $80.0 million was reaffirmed. On July 1, 2022, the RBL Facility borrowing base was automatically reduced to $31.3 million as a result of closing the Texas Gulf Coast properties sale discussed in Note 5 - Acquisitions And Divestitures. On November 1, 2022, the Company finalized the fourth amendment to the Exit credit agreement. Under the fourth amendment, (i) the RBL Facility borrowing base was increased to $35.0 million, (ii) the lenders party to the agreement were revised to only BOKF, NA dba Bank of Oklahoma, and (iii) the Eurodollar Loan borrowing option was amended to a secured overnight financing rate (SOFR) option. Subsequent to the fourth amendment, Revolving Loans are able to be SOFR Loans or ABR Loans (each as defined in the Exit credit agreement). Revolving Loans that are SOFR Loans bear interest at a rate per annum equal to the Adjusted Term SOFR Rate (as defined in the Exit credit agreement) for the applicable interest period plus 525 basis points while Revolving Loans that are ABR Loans bear interest at a rate per annum equal to the Alternate Base Rate plus 425 basis points. The Exit credit agreement requires the Company to comply with certain financial ratios, including: the Net Leverage Ratio (as defined in the Exit credit agreement) as of the last day of any fiscal quarter cannot be greater than 3.25 to 1.00, the Current Ratio (as defined in the Exit credit agreement) as of the last day of any fiscal quarter cannot be less than 1.00 to 1.00, and the Interest Coverage Ratio (as defined in the Exit credit agreement) as of the last day of any fiscal quarter cannot be less than 2.50 to 1.00. The Exit credit agreement also contains provisions, among others, that limit certain capital expenditures, and require certain hedging activities. The Exit credit agreement further requires the Company to provide quarterly financial statements within 45 days after the end of each of the first three quarters of each fiscal year and annual financial statements within 90 days after the end of each fiscal year. As of December 31, 2022, the Company was in compliance with these covenants. As of December 31, 2022, we had no long-term borrowings and $2.7 million of letters of credit outstanding under the Exit credit agreement. Superior Credit Agreement. On May 10, 2018, Superior entered into a five-year, $200.0 million senior secured revolving credit facility with an option to increase the credit amount up to $250.0 million, subject to certain conditions (Superior credit agreement). The amounts borrowed under the Superior credit agreement bore annual interest at a rate, at Superior’s option, equal to (a) LIBOR plus the applicable margin of 2.00% to 3.25% or (b) the alternate base rate (greater of (i) the federal funds rate plus 0.5%, (ii) the prime rate, and (iii) the Thirty-Day LIBOR Rate (as defined in the Superior credit agreement)) plus the applicable margin of 1.00% to 2.25%. On April 29, 2022, Superior entered into an Amended and Restated Credit Agreement for a four-year, $135.0 million senior secured revolving credit facility with an option to increase the credit amount up to $200.0 million, subject to certain conditions (Amended Superior credit agreement). The amounts borrowed under the Amended Superior credit agreement bear annual interest at a rate, at Superior’s option, equal to (a) Adjusted Term SOFR plus the Term Benchmark Applicable Margin of 2.75% to 3.75% or (b) the Base Rate (defined as the greater of (i) the Prime Rate, (ii) the 30 day Adjusted Term SOFR plus 1.0%, and (iii) the federal funds rate plus 0.5%) plus the Base Rate Applicable Margin of 1.75% to 2.75%. The obligations under the Amended Superior credit agreement are secured by, among other things, mortgage liens on certain of Superior’s processing plants and gathering systems. Unit is not a party to and does not guarantee the Amended Superior credit agreement. Other Long-Term Liabilities The table below presents the components of other long-term liabilities:
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- Definition Long-term debt and other long-term liabilites [Abstract] No definition available.
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- Definition The entire disclosure for long-term debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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ASSET RETIREMENT OBLIGATIONS |
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| Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ASSET RETIREMENT OBLIGATIONS | ASSET RETIREMENT OBLIGATIONS The following table presents activity for our estimated AROs:
1.Plugging liability estimates were revised for updates in the cost of services used to plug wells over the preceding year and estimated dates to be plugged.
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- References No definition available.
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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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WORKERS' COMPENSATION |
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| Payables and Accruals [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| WORKERS' COMPENSATION | WORKERS' COMPENSATION We are liable for workers' compensation benefits for traumatic injuries through our self-insured program to provide income replacement and medical treatment for work-related traumatic injury claims as required by applicable state laws. Workers' compensation laws also compensate survivors of workers who suffer employment related deaths. Our liability for traumatic injury claims is the estimated present value of current workers' compensation benefits, based on our actuarial estimates. Our actuarial calculations are based on a blend of actuarial projection methods and numerous assumptions including claim development patterns, mortality, medical costs and interest rates. The following table presents activity for our workers' compensation liability during the periods indicated:
Our workers' compensation liability above is presented on a gross basis and does not include our expected receivables on our insurance policy. Our receivables for traumatic injury claims under these policies as of December 31, 2022 and 2021 are $4.8 million and $4.0 million, respectively, and are included in other assets on our consolidated balance sheets.
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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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INCOME TAXES |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INCOME TAXES | INCOME TAXES As a result of the Plan in 2020, the Company experienced an ownership change under Sec. 382 of the Internal Revenue Code (IRC). Under IRC Sec. 382, the Company’s tax attributes, most notably its net operating loss carryovers, are potentially subject to various limitations going forward. The Company believes it has satisfied the requirements of Sec. 382(l)(5) whereby our tax attributes are generally not subject to limitations under Sec. 382(a) and have reflected that result in our financial statements accordingly. While cancellation of debt income (CODI) is generally considered taxable income under IRC Sec. 108, it provides an exception to that rule for CODI realized under a Title 11 case of the United States Code. In exchange for this exception, the taxpayer must reduce certain tax attributes including its net operating loss carryovers, credit carryovers, and tax basis in its assets in the amount of the CODI not recognized under the IRC Sec. 108 exception. The amount of CODI not recognized as a result of the IRC Sec. 108 exception was $506.3 million. As a result, our net operating loss carryovers were reduced by $456.3 million and the tax basis of our assets were reduced by $50.0 million. The following table presents a reconciliation between income tax expense computed by applying the federal statutory rate to income before income taxes and our effective income tax expense during the periods indicated:
The following table presents the Company's total provision for income taxes during the periods indicated:
The following table presents the components of net deferred tax assets and liabilities:
We concluded that it is more likely than not that the net deferred tax asset will not be realized and have recorded a full valuation allowance as of December 31, 2022 and 2021, reducing the net deferred tax asset to zero. The Company's pre-tax earnings since the Emergence Date remained in a three-year net cumulative loss position as of December 31, 2022, however, we will continue to evaluate whether the valuation allowance is appropriate in future reporting periods. Future events or new evidence which may lead the Company to conclude that it is more likely than not its net deferred tax assets will be realized include, but are not limited to, cumulative historical pre-tax earnings since the Emergence Date, sustained strength or improvements in commodity prices, sustained or improved rig utilization or rates, a material and sizable asset acquisition or disposition, and taxable events that could result from one or more future potential transactions. The valuation allowance does not prohibit the Company from utilizing the tax attributes if the Company recognizes taxable income. As long as the Company has deferred tax assets available and continues to conclude that the valuation allowance against its net deferred tax assets is necessary, the Company will not have significant deferred income tax expense or benefit. We file income tax returns in the U.S. federal jurisdiction and various states. We are no longer subject to U.S. federal tax examinations for years before 2019 or state income tax examinations by state taxing authorities for years before 2018. As of December 31, 2022, the Company has an expected federal net operating loss carryforward of $331.4 million of which $136.4 million is subject to expiration between 2036 and 2037. As of December 31, 2022, our tax basis in UPC's properties was approximately $333.8 million.
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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EMPLOYEE BENEFIT PLANS |
12 Months Ended |
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Dec. 31, 2022 | |
| Employee benefit plans [Abstract] | |
| EMPLOYEE BENEFIT PLANS | EMPLOYEE BENEFIT PLANS Separation Benefit Plans. As of the Emergence Date, the Board adopted (i) the Amended and Restated Separation Benefit Plan of Unit Corporation and Participating Subsidiaries (Amended Separation Benefit Plan), (ii) the Amended and Restated Special Separation Benefit Plan of Unit Corporation and Participating Subsidiaries (Amended Special Separation Benefit Plan) and (iii) the Separation Benefit Plan of Unit Corporation and Participating Subsidiaries (New Separation Benefit Plan). In accordance with the Plan, the Amended Separation Benefit Plan and the Amended Special Separation Benefit Plan allowed former employees or retained employees with vested severance benefits under either plan to receive certain cash payments in full satisfaction for their allowed separation claim under the Chapter 11 Cases. Also in accordance with the Plan, the New Separation Benefit Plan was a comprehensive severance plan for retained employees, including retained employees whose severance did not already vest under the Amended Separation Benefit Plan or the Amended Special Separation Benefit Plan. The New Separation Benefit Plan provided eligible employees that are involuntarily separated with two weeks of severance pay per year of service, with a minimum of four weeks and a maximum of 13 weeks. These benefits also vested for voluntary separation after 20 years of service provided to the Company. On November 1, 2021, the New Separation Benefit Plan was amended (Amended New Separation Benefit Plan) with consideration to the Divestiture Program to redefine which employees are entitled to the two weeks of severance pay per year of service with a minimum of four weeks and a maximum of 13 weeks as well as introduce new employee groups entitled to involuntary separation benefits equal to four months of base salary, six months of base salary, or 12 months of base salary if eligible upon involuntary separation. The Amended New Separation Benefit Plan maintains a 13 week severance benefit for voluntary separation which vests after 20 years of service provided to the Company. We recognized expense for benefits associated with anticipated payments from these separation plans of $3.9 million and $3.4 million during the years ended December 31, 2022 and 2021, respectively. 401(k) Employee Thrift Plan. Employees who meet specified service requirements may contribute a percentage of their total compensation, up to a specified maximum, to the 401(k) Employee Thrift Plan. We may match each employee’s contribution, up to a specified maximum, in full or on a partial basis with cash or common stock. The 2020 and 2021 plan year matching contributions were made in cash. Total 401(k) employer matching expense was $1.4 million and $1.6 million during the years ended December 31, 2022 and 2021, respectively.
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- Definition Employee benefit plans [Abstract] No definition available.
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- Definition The entire disclosure for retirement benefits. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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TRANSACTIONS WITH RELATED PARTIES |
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| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| TRANSACTIONS WITH RELATED PARTIES | TRANSACTIONS WITH RELATED PARTIES One current director, Robert Anderson, also serves as an executive with GBK Corporation, a holding company with numerous energy and industry subsidiaries and affiliates, including Kaiser Francis Oil Company and Cactus Drilling Company. The Company in the ordinary course of business, made payments for working interests, joint interest billings, drilling services, and product purchases to, and received payments for working interests, joint interest billings, and contract drilling services from, Kaiser Francis Oil Company and Cactus Drilling Company. The table below presents the payment activity with these related parties during the periods indicated:
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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STOCK-BASED COMPENSATION |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATIONUnit Corporation Long Term Incentive Plan. On the Effective Date, the Board adopted the Unit Corporation Long Term Incentive Plan (LTIP) to incentivize employees, officers, directors and other service providers of the Company and its affiliates. The LTIP is administered by the Compensation Committee and provides for the grant, from time to time, at the discretion of the Board or a committee thereof, of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, dividend equivalents, other stock-based awards, cash awards, performance awards, substitute awards or any combination of the foregoing. Subject to adjustment in the event of certain transactions or changes of capitalization in accordance with the LTIP, 903,226 shares of New Common Stock were reserved for issuance pursuant to awards under the LTIP. New Common Stock subject to an award that expires or is canceled, forfeited, exchanged, settled in cash, or otherwise terminated without delivery of shares and shares withheld to pay the exercise price of, or to satisfy the withholding obligations with respect to, an award will again be available for delivery pursuant to other awards under the LTIP. The following table presents the stock-based compensation expense activity recognized during the periods indicated:
The tables below presents the activity pertaining to nonvested RSUs during the periods indicated:
1.RSUs granted in January 2022 had an aggregate grant date fair value of $0.2 million and vest equally each month for thirty months. RSUs granted in April 2021 had an aggregate grant date fair value of $1.4 million and vest 25% on each of the following dates: May 27, 2022, September 3, 2022, September 3, 2023, and September 3, 2024. RSUs granted in October 2021 had an aggregate grant date fair value of $7.0 million and one-third vest on each of the following dates: November 21, 2022, October 1, 2023, and October 1, 2024. 2.The aggregate compensation cost related to nonvested RSUs not yet recognized as of December 31, 2022 was $4.2 million with a weighted average remaining service period of 1.2 years. The tables below summarizes activity pertaining to outstanding stock options during the periods presented:
1.Stock options granted in January 2022 had an aggregate grant date fair value of $0.1 million and 100% vest on the first anniversary of the grant date. Stock options granted in October 2021 had an aggregate grant date fair value of $4.1 million and and one-third vest on each of the following dates: October 1, 2022, October 1, 2023, and October 1, 2024. 2.Stock options outstanding as of December 31, 2022 had a weighted average remaining contractual term of 3.7 years and an aggregate intrinsic value of $4.1 million. The aggregate compensation cost related to outstanding options not yet recognized as of December 31, 2022 was $2.7 million with a weighted average remaining service period of 1.2 years. 3.Stock options exercisable as of December 31, 2022 had a weighted average remaining contractual term of 3.8 years and an aggregate intrinsic value of $1.4 million. 4.On January 6, 2023, in accordance with the provisions allowed under the LTIP, the Compensation Committee adjusted the exercise price of all outstanding stock options to $35.00 per share effective January 31, 2023 to account for the special dividend paid on that date.
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- References No definition available.
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- Definition Tabular disclosure of share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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DERIVATIVES |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DERIVATIVES | DERIVATIVES Commodity Derivatives We have entered into various types of derivative transactions covering some of our projected natural gas, NGLs, and oil production. These transactions are intended to reduce our exposure to market price volatility by setting the price(s) we will receive for that production. Our decisions on the price(s), type, and quantity of our production subject to a derivative contract are based, in part, on our view of current and future market conditions as well as certain requirements stipulated in the Exit credit agreement. As of December 31, 2022, our commodity derivative transactions consisted of the following types of hedges: •Basis/Differential Swaps. We receive or pay the NYMEX settlement value plus or minus a fixed delivery point price for the commodity and pay or receive the published index price at the specified delivery point. We use basis/differential swaps to hedge the price risk between NYMEX and its physical delivery points. •Swaps. We receive or pay a fixed price for the commodity and pay or receive a floating market price to the counterparty. The fixed-price payment and the floating-price payment are netted, resulting in a net amount due to or from the counterparty. •Collars. A collar contains a fixed floor price (put) and a ceiling price (call). If the market price exceeds the call strike price or falls below the put strike price, we receive the fixed price and pay the market price. If the market price is between the call and the put strike price, no payments are due from either party. We do not engage in derivative transactions for speculative purposes. We are not required to post any cash collateral with our counterparties and no collateral has been posted as of December 31, 2022. The following non-designated hedges were outstanding as of December 31, 2022:
Warrants Prior to the determination of the initial exercise price, we recognized the fair value of the warrants as a derivative liability on our consolidated balance sheets with changes in the liability reported as loss on change in fair value of warrants in our consolidated statements of operations. On April 7, 2022, the Company delivered notice of the initial $63.74 exercise price resulting in the warrants meeting the definition of an equity instrument. Accordingly, we recognized the change in the fair value of the warrant liability in our unaudited condensed consolidated statements of operations and reclassified the $49.1 million warrant liability to capital in excess of par value on the unaudited condensed consolidated balance sheets as of April 7, 2022. The warrants will continue to be reported as capital in excess of par value and are no longer subject to future fair value adjustments. The following tables present the recognized liabilities on our consolidated balance sheets as of the dates identified:
The following table presents the activity related to derivative instruments in the consolidated statements of operations during the periods indicated:
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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LEASES |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | LEASES Operating Leases. We are a lessee through noncancellable lease agreements for property and equipment consisting primarily of office space, land, vehicles, and equipment used in both our operations and administrative functions. In September 2021, we entered into an operating lease agreement for our headquarters office space which generated right of use assets and liabilities at lease inception of $8.4 million. The following table presents the maturities, weighted average remaining lease term, and the weighted average discount rate of our operating lease liabilities as of December 31, 2022:
1.Our weighted average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease. Finance Leases. During 2014, Superior entered into finance lease agreements for 20 compressors with initial terms of seven years and an option to purchase the assets at 10% of their then fair market value at the end of the term. These finance leases were discounted using annual rates of 4.0% and the underlying assets are included in gas gathering and processing equipment. Superior purchased the leased assets for $3.0 million in May 2021. The following table presents the operating and finance lease assets and liabilities on our consolidated balance sheets:
The following table presents the components of total lease cost for our operating and finance leases during the periods indicated:
1.Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $1.8 million and $1.5 million for the year ended December 31, 2022 and 2021, respectively. The following table presents supplemental cash flow information related to our operating and finance leases during the periods indicated:
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- References No definition available.
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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FAIR VALUE MEASUREMENTS |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS The inputs available determine the valuation technique that we use to measure the fair value of the assets and liabilities presented in our consolidated financial statements. Fair value measurements are categorized into one of three different levels depending on the observability of the inputs used in the measurement. The levels are summarized as follows: •Level 1—observable inputs such as quoted prices in active markets for identical assets and liabilities. •Level 2—other observable pricing inputs, such as quoted prices in inactive markets, or other inputs that are either directly or indirectly observable as of the reporting date, including inputs that are derived from or corroborated by observable market data. •Level 3—generally unobservable inputs which are developed based on the best information available and may include our own internal data or estimates about how market participants would value such assets and liabilities. Recurring Fair Value Measurements The following tables present our recurring fair value measurements as of the identified dates:
The following methods and assumptions were used to estimate the fair values of the assets and liabilities in the table above. There were no transfers between Level 2 and Level 3 financial assets (liabilities). Commodity Derivatives. We measure the fair values of our crude oil and natural gas swaps and collars using estimated discounted cash flow calculations based on the NYMEX futures index. We consider these Level 2 measurements within the fair value hierarchy as the inputs in the model are substantially observable over the term of the commodity derivative contract and there is a wide availability of quoted market prices for similar commodity derivative contracts. We determined that the non-performance risk regarding our commodity derivative counterparties was immaterial based on our valuation at December 31, 2022. Warrant Liability. We used the Black-Scholes option pricing model to measure the fair value of the warrants. Key inputs for the Black-Scholes model include the stock price, exercise price, expected term, risk-free rate, volatility, and dividend yield. We consider this a Level 3 measurement within the fair value hierarchy as estimated volatility is generally unobservable and requires management's estimation. The following table presents the activity of our recurring Level 3 fair value measurements during the periods presented:
Fair Value of Other Financial Instruments We have determined the estimated fair values of other financial instruments by using available market information and valuation methodologies. Considerable judgment is required in interpreting market data to develop the estimates of fair value. The use of different market assumptions or valuation methodologies may have a material effect on the estimated fair value amounts. The carrying values on the consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable, other current assets, and current liabilities approximate their fair values because of their short-term nature. Based on the borrowing rates currently available to us for credit agreement debt with similar terms and maturities and considering the risk of our non-performance, long-term debt under our credit agreements at December 31, 2022 would approximate its fair value. This debt is classified as Level 2. Fair Value of Non-Financial Instruments ARO. The initial measurement of ARO at fair value is calculated using discounted cash flow techniques and based on internal estimates of future retirement costs associated with property and equipment. Significant Level 3 inputs used in the calculation of AROs include plugging costs and remaining reserve lives. A summary of the Company’s ARO activity is presented in Note 10 – Asset Retirement Obligations. Stock-Based Compensation. We use the Black-Scholes option pricing model to estimate the fair value of stock options and SARs while the value of our restricted stock grants is based on the grant date closing stock price. Key assumptions for the Black-Scholes models include the stock price, exercise price, expected term, risk-free rate, volatility, and dividend yield. We consider this a Level 3 measurement within the fair value hierarchy as estimated volatility and expected term are generally unobservable and requires management's estimation. Impairments. Non-recurring fair value measurements are also applied, when applicable, to determine the fair value of our long-lived assets and goodwill. We recorded non-cash impairment charges as discussed further in Note 3 – Impairments. The fair value measurement of these assets is categorized as a Level 3 measurement as the discounted cash flow models require the use of significant unobservable inputs.
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- References No definition available.
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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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SUPERIOR INVESTMENT |
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| Variable Interest Entity Arrangements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUPERIOR INVESTMENT | SUPERIOR INVESTMENT On April 3, 2018, we sold 50% of the ownership interest in Superior to SP Investor Holdings, LLC (SP Investor), a holding company jointly owned by OPTrust, and funds managed and/or advised by Partners Group, a global private markets investment manager. Superior is governed and managed under the Amended and Restated Limited Liability Company Agreement (Agreement) and Amended and Restated Master Services and Operating Agreement (MSA). The MSA was between our wholly-owned subsidiary, SPC Midstream Operating, L.L.C. (the Operator), and Superior. As the Operator, we provided services, such as operations and maintenance support, accounting, legal, and human resources to Superior for a monthly service fee of $0.3 million. Superior's creditors have no recourse to our general credit. Unit is not a party to and does not guarantee Superior's credit agreement. The obligations under Superior's credit agreement are secured by, among other things, mortgage liens on certain of Superior’s processing plants and gathering systems. Distributions. The Agreement specifies how future distributions are to be allocated among Unit Corporation and SP Investor (the Members). Distributions from Available Cash (as defined in the Agreement) were generally split evenly between the Members prior to December 31, 2021, when the three-year period for Unit's commitment to spend $150.0 million (Drilling Commitment Amount) to drill wells in the Granite Wash/Buffalo Wallow area ended. The total amount spent by Unit towards the Drilling Commitment Amount was $24.6 million. Accordingly, SP Investor will receive 100% of Available Cash distributions related to periods subsequent to December 31, 2021 until the $72.7 million Drilling Commitment Adjustment Amount (as defined in the Agreement) is satisfied. The following table presents the distributions paid by Superior to each of the members during the years ended December 31, 2022 and 2021:
Superior also paid distributions to SP Investor of $11.1 million in January 2023 which reduced the remaining Drilling Commitment Adjustment Amount to $20.9 million. Sale Event. After April 1, 2023, either Member may initiate a sale process of Superior to a third-party or a liquidation of Superior's assets (Sale Event). In a Sale Event, the Agreement generally requires cumulative distributions to SP Investor in excess of its original $300.0 million investment sufficient to provide SP Investor a 7% internal rate of return on its capital contributions to Superior before any liquidation distribution is made to Unit. As of December 31, 2022, liquidation distributions paid first to SP Investor of $335.2 million would be required for SP Investor to reach its 7% Liquidation IRR Hurdle at which point Unit would then be entitled to receive up to $335.2 million of the remaining liquidation distributions to satisfy Unit's 7% Liquidation IRR Hurdle with any remaining liquidation distributions paid as outlined within the Agreement. On February 21, 2023, we entered into a letter agreement (the “Letter Agreement”) with SP Investor under which the Company has agreed to sell all of its 50% ownership interest in Superior for $20.0 million. The Letter Agreement provides that SP Investor will pay Unit $12.0 million at closing and $8.0 million in deferred proceeds to be paid no later than 12 months from closing, subject to Unit's satisfaction of certain ongoing covenant obligations and other customary conditions. Consolidation. From April 3, 2018 to March 1, 2022, we treated Superior as a variable interest entity (VIE) because the equity holders as a group (Unit Corporation and SP Investor) lacked the power to control without the Operator. The Agreement and MSA gave us the power to direct the activities that most significantly affect Superior's operating performance through common control of the Operator. Accordingly, Unit was considered the primary beneficiary and consolidated the financial position, operating results, and cash flows of Superior. Effective March 1, 2022, the employees of the Operator were transferred to Superior and the MSA was amended and restated to remove the operating services the Operator was providing to Superior. There was no change to the monthly service fee for shared services. The power to direct the activities that most significantly affect Superior's operating performance is now shared by the equity holders (Unit Corporation and SP Investor) rather than held by the Operator. Superior no longer qualifies as a VIE subsequent to these amendments and we no longer consolidate the financial position, operating results, and cash flows of Superior as of, and subsequent to, March 1, 2022. We subsequently account for our investment in Superior as an equity method investment using the hypothetical liquidation book value (HLBV) method, which is a balance sheet approach that calculates the change in the hypothetical amount Unit and SP Investor would be entitled to receive if Superior were liquidated at book value at the end of each period, adjusted for any contributions made and distributions received during the period. We recognized no equity earnings from our investment in Superior during the year ended December 31, 2022. Estimated Fair Value of Equity Method Investment in Superior. As of the Emergence Date, in conjunction with fresh start accounting under ASC Topic 852, Reorganizations, the estimated fair value of the net equity attributable to Unit's ownership interest in Superior was $14.8 million. Since then, Unit has received cumulative distributions from Superior of $32.6 million, which were recognized as net income attributable to Unit under the HLBV method. As of March 1, 2022, upon deconsolidation of Superior, the fair value of our retained equity method investment in Superior was estimated at $1.7 million. To estimate this fair value, we simulated paths for Superior's total equity value through the potential sales process initiation date using a Geometric Brownian Motion. The expected value (i.e., average of all simulations) of each security class was then discounted to present value using the relevant risk-free rate. The simulations reflect forecasted future cash distributions as impacted by the Drilling Commitment Adjustment Amount described above, as well as the future liquidation preference of each investor in a potential Sale Event also as described above. We consider this a Level 3 measurement within the fair value hierarchy as the discounted simulation models require the use of significant unobservable inputs. We recognized a $13.1 million loss on deconsolidation during the three months ended March 31, 2022 as the difference between the $1.7 million estimated fair value of our retained equity method investment in Superior as of March 1, 2022 and Superior's net equity attributable to Unit's ownership interest prior to deconsolidation. Superior Balance Sheet Disclosure. The amounts below reflect the Superior balance sheet accounts, without elimination of intercompany receivables from and payables to Unit, consolidated in our consolidated balance sheets as of December 31, 2021 which was the last reporting date as of which we consolidated the financial position of Superior:
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- Definition Variable Interest Entity Arrangements No definition available.
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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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COMMITMENTS AND CONTINGENCIES |
12 Months Ended |
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Dec. 31, 2022 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Environmental We manage our exposure to environmental liabilities on properties to be acquired by identifying existing problems and assessing the potential liability. We also conduct periodic reviews, on a company-wide basis, to identify changes in our environmental risk profile. These reviews evaluate whether there is a probable liability, its amount, and the likelihood that the liability will be incurred. Any potential liability is determined by considering, among other matters, incremental direct costs of any likely remediation and the proportionate cost of employees expected to devote significant time directly to any possible remediation effort. As it relates to evaluations of purchased properties, depending on the extent of an identified environmental problem, we may exclude a property from the acquisition, require the seller to remediate the property to our satisfaction, or agree to assume liability for the remediation of the property. We have not historically experienced significant environmental liability while being a contract driller since the greatest portion of that risk is borne by the operator. Any liabilities we have incurred have been small and were resolved while the drilling rig was on the location. Those costs were in the direct cost of drilling the well. Litigation The Company is subject to litigation and claims arising in the ordinary course of business which may include environmental, health and safety matters, commercial disputes with customers, or more routine employment related claims. The Company accrues for such items when a liability is both probable and the amount can be reasonably estimated. As new information becomes available or because of legal or administrative rulings in similar matters or a change in applicable law, the Company's conclusions regarding the probability of outcomes and the amount of estimated loss, if any, may change. Although we are insured against various risks, there is no assurance that the nature and amount of that insurance will be adequate, in every case, to indemnify us against liabilities arising from future legal proceedings. In February 2021, UPC finalized a settlement agreement for $2.1 million related to a well drilled in Beaver County, Oklahoma during 2013. Certain operational issues arose and one of the working interest owners in the well filed a lawsuit claiming that UPC’s actions violated its duties under the joint operating agreement and caused damages to the owners in the well. The case went to trial in January 2019 and the jury issued a verdict in favor of the working interest owner, awarding $2.4 million in damages, including pre- and post-judgment interest. UPC appealed the verdict and finalized the settlement agreement while the case was pending review in the Oklahoma Court of Civil Appeals.
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- References No definition available.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS |
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| Risks and Uncertainties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS | CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERSOur financial instruments that potentially subject us to concentrations of credit risk primarily consist of trade receivables with a variety of oil and natural gas companies. Our credit risk is considered limited due to the many customers comprising our customer base and we do not generally require collateral related to our receivables. The following table presents third-party customers that accounted for over 10% of each of our segments' revenues:
* Revenue accounted for less than 10% of the segment's revenues. 1) See Note 19 - Superior Investment for information on affiliate activity with Superior 2) Mid-Stream amounts shown in this table for the year ended December 31, 2022 reflect Superior activity on a consolidated basis for the two months prior to March 1, 2022. We had a concentration of cash with one bank of $2.8 million and $36.6 million as of December 31, 2022 and 2021, respectively. We also had a concentration of cash equivalents of $134.7 million and $76.0 million in two separate money market funds comprised of U.S. Government and U.S. Treasury securities as of December 31, 2022 compared to cash equivalents of $27.0 million in one of those funds as of December 31, 2021. Using derivative instruments involves the risk that the counterparties cannot meet the financial terms of the transactions. We considered this non-performance risk regarding our counterparties and our own non-performance risk in our derivative valuation at December 31, 2022 and determined there was no material risk at that time. The fair value of the net derivative liabilities with Bank of Oklahoma, our only commodity derivative counterparty, was $23.6 million of December 31, 2022.
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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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INDUSTRY SEGMENT INFORMATION |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INDUSTRY SEGMENT INFORMATION | INDUSTRY SEGMENT INFORMATION We have three main business segments offering different products and services within the energy industry: •Oil and natural gas - the oil and natural gas segment is engaged in the acquisition, development, and production of oil, NGLs, and natural gas properties. •Contract drilling - the contract drilling segment is engaged in the land contract drilling of oil and natural gas wells. •Mid-Stream - the mid-stream segment buys, sells, gathers, processes, and treats natural gas and NGLs for third parties and for our own account. We presently own 50% of this subsidiary, and subsequent to the deconsolidation of Superior as of March 1, 2022 (as discussed in Note 2 - Summary Of Significant Accounting Policies and Note 19 - Superior Investment), we will continue to include our equity method investment in Superior and related earnings in our mid-stream segment. We evaluate each consolidated segment’s performance based on its operating income, which is defined as operating revenues less operating expenses and depreciation, depletion, amortization, and impairment. We have no oil and natural gas production or other operations outside the United States. The following tables present information about the operations and assets for each of our segments:
1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time. 2.Oil and natural gas assets include oil and natural gas properties, saltwater disposal systems, and other non-full cost pool assets. 3.Identifiable assets are those used in Unit’s operations in each industry segment. 4.Other corporate assets are primarily cash and cash equivalents, transportation and other equipment, and our Superior equity method investment. 5.Includes Superior activity for the two months prior to the March 1, 2022 deconsolidation, as discussed in Note 2 - Summary Of Significant Accounting Policies and Note 19 - Superior Investment. Superior's standalone total revenues and total operating costs for the year ended December 31, 2022 were $528.8 million and $452.1 million, respectively.
1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time. 2.Oil and natural gas assets include oil and natural gas properties, saltwater disposal systems, and other non-full cost pool assets. 3.Identifiable assets are those used in Unit’s operations in each industry segment. 4.Other corporate assets are principally cash and cash equivalents, short-term investments, transportation equipment, furniture, and equipment.
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Schedule II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES |
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| SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | VALUATION AND QUALIFYING ACCOUNTS AND RESERVES Allowance for Credit Losses:
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- Definition The entire disclosure for valuation and qualifying accounts and reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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SUPPLEMENTAL OIL AND GAS DISCLOSURES |
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| Supplemental Oil and Gas Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUPPLEMENTAL OIL AND GAS DISCLOSURES | SUPPLEMENTAL OIL AND GAS DISCLOSURES (UNAUDITED) The supplemental data presented herein reflects information for all our oil and natural gas producing activities. Our oil and gas operations are substantially all located in the United States. Capitalized Costs The following table presents capitalized costs related to our oil and natural gas activities:
1.Presented gross of any inter-segment eliminations which reduce the consolidated capitalized costs. See Note 22 - Industry Segment Information for detail on inter-segment eliminations. Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration, and Development Activities The following table presents costs incurred related to our oil and natural gas activities during the periods indicated:
Unproved properties not subject to amortization relates to properties which are not individually significant and consist primarily of lease acquisition costs. The evaluation process associated with these properties has not been completed and therefore, the Company is unable to estimate when these costs will be included in the amortization calculation. The following table presents results of operations for producing activities before inter-segment eliminations during the periods indicated:
The table below presents estimated quantities of proved developed oil, NGLs, and natural gas reserves and changes in net quantities of proved developed and undeveloped oil, NGLs, and natural gas reserves:
1.Revisions of previous estimates increased primarily due to changes in the unescalated 12-month average product prices which increased approximately 68% for oil, 136% for NGLs, and 82% for natural gas compared to the December 31, 2020 pricing. 2.Revisions of previous estimates increased primarily due to changes in the unescalated 12-month average product prices which increased approximately 41% for oil and 77% for natural gas compared to the December 31, 2021 pricing. 3.See Note 5 - Acquisitions And Divestitures for discussion of the assets divested during the years ended December 31, 2022 and 2021, respectively. Estimates of oil, NGLs, and natural gas reserves require extensive judgments of reservoir engineering data. Assigning monetary values to such estimates does not reduce the subjectivity and changing nature of such reserve estimates. Indeed, the uncertainties inherent in the disclosure are compounded by applying additional estimates of the rates and timing of production and the costs that will be incurred in developing and producing the reserves. The information set forth in this report is, therefore, subjective and, since judgments are involved, may not be comparable to estimates submitted by other oil and natural gas producers. In addition, since prices and costs do not remain static, and no price or cost escalations or de-escalations have been considered, the results are not necessarily indicative of the estimated fair market value of estimated proved reserves, nor of estimated future cash flows. The standardized measure of discounted future net cash flows (SMOG) was calculated using 12-month average prices and year end costs adjusted for permanent differences that relate to existing proved oil, NGLs, and natural gas reserves. Future income tax expenses consider the Tax Act statutory tax rates. The following table presents the components of the standardized measure of discounted future net cash flows:
The following table presents the principal sources of changes in the standardized measure of discounted future net cash flows:
Certain information concerning the assumptions used in computing SMOG and their inherent limitations are discussed below. We believe this information is essential for a proper understanding and assessment of the data presented. The assumptions used to compute SMOG do not necessarily reflect our expectations of actual revenues to be derived from neither those reserves nor their present worth. Assigning monetary values to the reserve quantity estimation process does not reduce the subjective and ever-changing nature of reserve estimates. Additional subjectivity occurs when determining present values because the rate of producing the reserves must be estimated. In addition to difficulty inherent in predicting the future, variations from the expected production rate could result from factors outside of our control, such as unintentional delays in development, environmental concerns or changes in prices or regulatory controls. Also, the reserve valuation assumes that all reserves will be disposed of by production. However, other factors such as the sale of reserves in place could affect the amount of cash eventually realized. The December 31, 2022 future cash flows were computed by applying the 12-month 2022 average unescalated prices of $93.67 per barrel of oil and $6.36 per Mcf of natural gas, then adjusted for price differentials, over the estimated life of each of our oil and natural gas properties. NGL pricing was estimated as a percentage of the pricing per barrel of oil. Future price changes are considered only to the extent provided by contractual arrangements in existence at year-end. Future production and development costs are computed by estimating the expenditures to be incurred in developing and producing the proved oil, NGLs, and natural gas reserves at the end of the year, based on continuation of existing economic conditions. Future income tax expenses are computed by applying the appropriate year-end statutory tax rates to the future pretax net cash flows relating to proved oil, NGLs, and natural gas reserves less the tax basis of our properties. The future income tax expenses also give effect to permanent differences and tax credits and allowances relating to our proved oil, NGLs, and natural gas reserves. Care should be exercised in the use and interpretation of the above data. As production occurs over the next several years, the results shown may be significantly different as changes in production performance, petroleum prices and costs are likely to occur.
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- Definition Supplemental Oil and Gas Disclosures [Abstract] No definition available.
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- Definition The entire disclosure for oil and gas producing industries. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy) |
12 Months Ended |
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Dec. 31, 2022 | |
| Accounting Policies [Abstract] | |
| Principles of Consolidation | The consolidated financial statements include the accounts of Unit Corporation and its subsidiaries. We consolidated the financial position, operating results, and cash flows of Superior prior to March 1, 2022, on which date the Master Services and Operating Agreement (MSA) was amended and restated, with the result that we no longer consolidate Superior's financial position, operating results, and cash flows during periods subsequent to March 1, 2022. Accordingly, the 2022 consolidated financial statements and notes reflect Superior activity on a consolidated basis for the two months prior to March 1, 2022. See Note 19 – Superior Investment for more information on the Superior investment and consolidation conclusions. All intercompany transactions and accounts between consolidated entities have been eliminated, including activity between Unit and Superior during the two months prior to March 1, 2022. Affiliate transactions and accounts between Unit and Superior subsequent to March 1, 2022 are not eliminated. During 2021, management identified an error in the initial allocation of equity between Unit Corporation and non-controlling interests as of the September 3, 2020 fresh start accounting date. The impact of the error was not material to any of our prior period financial statements and the error was corrected with one-time adjustment during the year ended December 31, 2021. As a result, during the year ended December 31, 2021, retained earnings (deficit) was reduced by $1.4 million with a corresponding decrease to non-controlling interest in consolidated subsidiaries. Certain amounts presented for prior periods have been reclassified to conform to current year presentation. There was no impact from these reclassifications to consolidated net income or shareholders' equity. We evaluated our disclosure of subsequent events through March 17, 2023, the date the consolidated financial statements were issued.
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| Accounting Estimates | Preparing financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the consolidated financial statements. Actual results could differ from those estimates. Significant estimates and assumptions include: •oil and gas reserves quantities and values; •full cost ceiling test and impairment assessments for property and equipment; •asset retirement obligations; •fair value of commodity derivative assets and liabilities; •fair value of the warrant liability; •fair value of stock-based compensation grants or modifications; •workers' compensation liabilities; •fair value of our retained investment in Superior; •contingency, litigation, and environmental liabilities; and •realizability of deferred tax assets.
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| Cash Equivalents and Bank Overdrafts | We include as cash and cash equivalents all cash on hand and on deposit, as well as highly liquid investments with maturities of three months or less which are readily convertible into known amounts of cash. The financing section of our consolidated statements of cash flows reflects bank overdraft activity. Bank overdrafts are checks issued before the end of the period, but not presented to our bank for payment before the end of the period. There were no bank overdrafts as of December 31, 2022 or December 31, 2021. |
| Accounts Receivable | Accounts receivable are carried on a gross basis, with no discounting, less an allowance for expected credit losses. We estimate the allowance for credit losses based on existing economic conditions, the financial condition of our customers, and the amount and age of past due accounts. Receivables are considered past due if full payment is not received by the contractual due date. Past due accounts are generally written off against the allowance for credit losses only after all collection attempts have been unsuccessful. |
| Property and Equipment | Drilling equipment, gas gathering and processing equipment, transportation equipment, and other property and equipment are carried at cost less accumulated depreciation. Renewals and enhancements are capitalized while repairs and maintenance are expensed. We depreciate all drilling assets utilizing the straight-line method over the estimated useful lives of the assets, typically ranging from four to ten years. Depreciation of other property and equipment is computed using the straight-line method over the estimated useful lives of the assets, typically ranging from three to 15 years. Impairment and disposal. We review the carrying amounts of long-lived assets for potential impairment when events or changes in circumstances suggest the carrying amounts may not be recoverable. Changes that could prompt an assessment include equipment obsolescence, declines in the market demand for a an asset, declines in commodity prices, periods of relatively low drilling rig utilization, declining revenue or cash margin per day, or overall unfavorable changes in general market conditions. Assets are determined to be impaired if a forecast of undiscounted estimated future net operating cash flows directly related to the asset, including disposal value, if any, is less than the carrying amount of the asset. If any asset is determined to be impaired, the loss is measured as the amount by which the carrying asset exceeds its fair value. The estimate of fair value is based on the best information available, including prices for similar assets. Changes in these estimates could cause us to reduce the carrying value of property and equipment. Asset impairment evaluations are, by nature, highly subjective. They involve expectations about future cash flows generated by our assets and reflect our assumptions and judgments regarding future industry conditions and their effect on future utilization levels, dayrates, and costs. Using different estimates and assumptions could result in materially different carrying values of our assets. When property and equipment components are disposed of, the cost and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is generally reflected in income from operations. For dispositions of drill pipe and drill collars, an average cost for the appropriate feet of drill pipe and drill collars is removed from the asset account and charged to accumulated depreciation and proceeds, if any, are credited to accumulated depreciation unless proceeds would exceed remaining cost, in which case excess proceeds are recorded as a gain on disposition of assets.
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| Capitalized Interest | We did not capitalize any interest costs during the years ended December 31, 2022 and 2021. |
| Oil and Natural Gas Operations | Leases. We enter into various agreements to lease equipment and buildings, and we review each agreement to determine if they contain operating or finance leases with a term greater than 12 months. We recognize a lease liability on identified leases for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term based on the present value of lease payments over the lease term which includes all noncancelable periods as well as periods covered by options to extend the lease that we are reasonably certain to exercise. Leases with an initial term of 12 months or less are not recorded as a lease right-of-use asset and liability. Most leases are valued using an incremental borrowing rate, which is determined based on information available at the commencement date of a lease, as an implicit borrowing rate cannot be determined under most of our leases. Leases may include renewal, purchase or termination options that can extend or shorten the term of the lease. These options are evaluated at inception and throughout the contract term to determine if a modification of the lease term is required. Leases with an initial term of 12 months or less are not recorded as a lease right-of-use asset and liability. Expenses related to leases determined to be operating leases will be recognized on a straight-line basis over the lease term including any reasonably certain renewal periods, while those determined to be finance leases will be recognized following a front-loaded expense profile in which interest and amortization are presented separately in the consolidated statements of operations. The determination of whether a lease is accounted for as a finance lease or an operating lease requires management's estimates of the fair value of the underlying asset and its estimated economic useful life, among other considerations.
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| ARO | The estimated liabilities related to these future costs are recorded at the time the wells are drilled or acquired. We use historical experience to determine the estimated plugging costs considering the well's type, depth, physical location, and ultimate productive life. A risk-adjusted discount rate and an inflation factor are applied to estimate the present value of these obligations. We depreciate the capitalized asset retirement cost and accrete the obligation over time. Revisions to the obligations and assets are recognized at the appropriate risk-adjusted discount rate with a corresponding adjustment made to the full cost pool. Our mid-stream investment has property and equipment at locations leased or under right of way agreements which may require asset removal or site restoration, however, prior to the deconsolidation of Superior, we were not able to reasonably measure the fair value of the obligations as the potential settlement dates were indeterminable. |
| Insurance | We are self-insured for certain losses relating to workers’ compensation, control of well, and employee medical benefits. Insured policies for other coverage contain deductibles or retentions per occurrence that range from zero to $1.0 million. We have purchased stop-loss coverage to limit, to the extent feasible, per occurrence and aggregate exposure to certain types of claims. There is no assurance that the insurance coverages we have will adequately protect us against liability from all potential consequences. If insurance coverage becomes more expensive, we may choose to self-insure, decrease our limits, raise our deductibles, or any combination of these rather than pay higher premiums. |
| Derivative Activities | All commodity derivatives are recognized on the consolidated balance sheets as either an asset or liability measured at fair value and all our commodity derivative counterparties are subject to master netting agreements. We net the value of the derivative transactions with the same counterparty if a legal right to set-off exists. Changes in the fair value of our commodity derivatives and gains or losses on commodity derivative settlement are reported in loss on derivatives in our consolidated statements of operations. Cash settlements received or paid for matured, early-terminated, and/or modified derivatives are reported in cash payments on derivatives settled in our consolidated statements of cash flows. |
| Income Taxes | Income taxes are recognized based on earnings reported for tax return purposes in addition to a provision for deferred income taxes. Deferred income taxes are recognized at the end of each reporting period for the future tax consequences of cumulative temporary differences between the tax basis of assets and liabilities and their reported amounts in the Company’s consolidated financial statements based on existing tax laws and enacted statutory tax rates applicable to the periods in which the temporary differences are expected to affect taxable income. U.S. GAAP requires the recognition of a deferred tax asset for net operating loss carryforwards and tax credit carryforwards. We periodically assesses the realizability of the deferred tax assets by considering all available evidence (both positive and negative) to determine whether it is more likely than not that all or a portion of the deferred tax assets will not be realized and a valuation allowance is required. |
| Natural Gas Balancing | When there are insufficient remaining reserves to offset a gas imbalance, we recognize an asset or a liability for the under-produced or over-produced position. We have recorded a receivable of $3.5 million and a liability of $4.3 million as of December 31, 2022 on certain properties where we estimate that insufficient reserves are available for us to recover our under-production from future production volumes or insufficient reserves available to allow the under-produced owners to recover their under-production from future production volumes, respectively. Our policy is to expense the pro-rata share of lease operating costs from all wells as incurred. Such expenses relating to the balancing position on wells in which we have imbalances are not material. |
| Employee And Director Stock Based Compensation | We recognize the cost of stock-based compensation over the requisite service periods, which is generally the vesting period, based on the grant date fair value of those awards and account for forfeitures as they occur. Warrant Liability. Prior to the determination of the initial exercise price, we recognized the fair value of the warrants as a derivative liability on our consolidated balance sheets with changes in the liability reported as loss on change in fair value of warrants in our consolidated statements of operations. On April 7, 2022, the Company delivered notice of the initial $63.74 exercise price resulting in the warrants meeting the definition of an equity instrument. Accordingly, we recognized the change in the fair value of the warrant liability in our unaudited condensed consolidated statements of operations and reclassified the $49.1 million warrant liability to capital in excess of par value on the unaudited condensed consolidated balance sheets as of April 7, 2022. The warrants will continue to be reported as capital in excess of par value and are no longer subject to future fair value adjustments. |
| New Accounting Standards | |
| Revenue | Our revenue streams are reported under three segments: oil and natural gas, contract drilling, and mid-stream which is consistent with how we report our segment revenue in Note 22 – Industry Segment Information. Revenue from the oil and natural gas segment is from sales of our oil and natural gas production. Revenue from the contract drilling segment comes from contracting with upstream companies to drill an agreed-on number of wells or provide drilling rigs and services over an agreed-on period. Revenues from the mid-stream segment are generated from the fees earned for gas gathering and processing services provided to a customer or by selling of hydrocarbons to other mid-stream companies. Oil and Natural Gas Revenue Typical types of revenue contracts entered into by our oil and gas segment are Oil Sales Contracts, North American Energy Standards Board (NAESB) Contracts, Gas Gathering and Processing Agreements, and revenues earned as the non-operated party with the operator serving as an agent on our behalf under joint operating agreements. Consideration received is variable and settled monthly while contract terms can range from a single month or evergreen to terms of a decade or more. Revenues from oil and natural gas sales are recognized when the customer obtains control of the sold product which typically occurs at the point of delivery to the customer. Certain costs, as either a deduction from revenue or as an expense, are determined based on when control of the commodity is transferred to our customer, which would affect our total revenue recognized, but will not affect gross profit. For example, gathering, processing and transportation costs are included as part of the contract price with the customer on transfer of control of the commodity are included in the transaction price, while costs incurred while we are in control of the commodity represent operating costs. Contract Drilling Revenue Contract drilling revenues and expenses are primarily recognized as services are performed and collection is reasonably assured. Payments for mobilization and demobilization activities do not relate to a distinct good or service within the contract, but are recognized as revenue when received as deferral for ratable recognition over the contract term is not material to the consolidated financial statements. Costs incurred to relocate rigs and other drilling equipment to areas in which a contract has not been secured are expensed as incurred and any reimbursements received for out-of-pocket expenses are recorded as both revenues and direct costs. Most of our drilling contracts have a term of one year or less and the remaining performance obligations under the contracts without a fixed term are not material. Mid-Stream Revenue The typical revenue contracts used by this segment are gas gathering and processing agreements as well as product sales. Superior recognizes sales revenue at the point in time when control transfers to the purchaser, typically at a specified delivery point, based on the contractually agreed upon fixed or index-based price received. Contracts for gas gathering and processing services may include terms for demand fees or shortfall fees. Demand fees or shortfall fees exist in arrangements where a customer agrees to pay a fixed fee for a contractually agreed upon pipeline capacity or shortfall fees for any minimum volumes not utilized, which create performance obligations for each individual period of reservation. Revenue for these fees is recognized once the services have been completed, the customer no longer has access to the contracted capacity, or the likelihood of the customer exercising all or a portion of their remaining rights becomes remote.
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- Definition Insurance [Policy Text Block] No definition available.
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- References No definition available.
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- Definition Disclosure of accounting policy for legal obligation associated with retirement of long-lived asset that results from acquisition, construction, or development or from normal operation of long-lived asset. Excludes environmental remediation liability from improper or other-than-normal operation of long-lived asset, obligation arising in connection with leased property that meets definition of lease payments or variable lease payments and from plan to sell or otherwise dispose of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for gas balancing arrangements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for oil and gas entities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for interest capitalization. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition Disclosure of accounting policy for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for receivable. Includes, but is not limited to, accounts receivable and financing receivable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for revenue. Includes revenue from contract with customer and from other sources. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for award granted to director under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Contract with Customer, Asset and Liability |
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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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SHAREHOLDERS' EQUITY AND DIVIDENDS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Repurchase Agreements | The table below presents the common stock repurchase activity during the periods indicated:
1) In June 2021, the Company's Board of Directors (the Board) authorized repurchasing up to $25.0 million of the Company’s outstanding common stock. The Board subsequently authorized increases to the authorized repurchases up to $50.0 million in October 2021 and then up to $100.0 million in June 2022. The repurchases are made through open market purchases, privately negotiated transactions, or other available means. The Company has no obligation to repurchase any shares under the repurchase program and may suspend or discontinue it at any time without prior notice. As of December 31, 2022, we had repurchased a total of 1,794,392 shares under the repurchase program at an average share price of $38.37 for an aggregate purchase price of $68.9 million. 2) In June 2021, we repurchased our common stock from the Lenders (as defined in Note 9 - Long-Term Debt and Other Long-Term Liabilities) which received these shares as an exit fee during our reorganization. 3) During the year ended December 31, 2021, we repurchased shares in a privately negotiated transaction which was not part of the repurchase program.
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- References No definition available.
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- Definition The entire disclosure for repurchase agreements. No definition available.
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EARNINGS (LOSS) PER SHARE (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Earnings (Loss) Per Share [Table Text Block] |
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- References No definition available.
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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ACCRUED LIABILITIES (Tables) |
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued Liabilities | accrued liabilities:
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- References No definition available.
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- Definition Tabular disclosure of the components of accrued liabilities. No definition available.
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LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES (Tables) |
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term debt and other long-term liabilites [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Long-term Debt Instruments [Table Text Block] |
1.Unit Corporation no longer consolidates the balance sheet of Superior as of December 31, 2022, as discussed in Note 2 - Summary Of Significant Accounting Policies and Note 19 - Superior Investment.
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| Other Long Term Liabilities [Table Text Block] | other long-term liabilities:
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- Definition Long-term debt and other long-term liabilites [Abstract] No definition available.
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- Definition Tabular disclosure of other liabilities. No definition available.
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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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ASSET RETIREMENT OBLIGATIONS (Tables) |
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Asset Retirement Obligations [Table Text Block] | The following table presents activity for our estimated AROs:
1.Plugging liability estimates were revised for updates in the cost of services used to plug wells over the preceding year and estimated dates to be plugged.
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- References No definition available.
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- Definition Tabular disclosure of the carrying amount of a liability for asset retirement obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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WORKERS' COMPENSATION (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Payables and Accruals [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Workers' Compensation Liability | The following table presents activity for our workers' compensation liability during the periods indicated:
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- References No definition available.
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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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INCOME TAXES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation Of Income Tax Expense (Benefit) | a reconciliation between income tax expense computed by applying the federal statutory rate to income before income taxes and our effective income tax expense during the periods indicated:
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| Schedule Of Total Provision For Income Taxes | The following table presents the Company's total provision for income taxes during the periods indicated:
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| Schedule Of Deferred Tax Assets And Liabilities | net deferred tax assets and liabilities:
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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STOCK-BASED COMPENSATION (Tables) |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Restricted Stock Awards [Table Text Block] | The following table presents the stock-based compensation expense activity recognized during the periods indicated:
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| Activity Pertaining To Restricted Stock Awards [Table Text Block] | The tables below presents the activity pertaining to nonvested RSUs during the periods indicated:
1.RSUs granted in January 2022 had an aggregate grant date fair value of $0.2 million and vest equally each month for thirty months. RSUs granted in April 2021 had an aggregate grant date fair value of $1.4 million and vest 25% on each of the following dates: May 27, 2022, September 3, 2022, September 3, 2023, and September 3, 2024. RSUs granted in October 2021 had an aggregate grant date fair value of $7.0 million and one-third vest on each of the following dates: November 21, 2022, October 1, 2023, and October 1, 2024. 2.The aggregate compensation cost related to nonvested RSUs not yet recognized as of December 31, 2022 was $4.2 million with a weighted average remaining service period of 1.2 years. The tables below summarizes activity pertaining to outstanding stock options during the periods presented:
1.Stock options granted in January 2022 had an aggregate grant date fair value of $0.1 million and 100% vest on the first anniversary of the grant date. Stock options granted in October 2021 had an aggregate grant date fair value of $4.1 million and and one-third vest on each of the following dates: October 1, 2022, October 1, 2023, and October 1, 2024. 2.Stock options outstanding as of December 31, 2022 had a weighted average remaining contractual term of 3.7 years and an aggregate intrinsic value of $4.1 million. The aggregate compensation cost related to outstanding options not yet recognized as of December 31, 2022 was $2.7 million with a weighted average remaining service period of 1.2 years. 3.Stock options exercisable as of December 31, 2022 had a weighted average remaining contractual term of 3.8 years and an aggregate intrinsic value of $1.4 million. 4.On January 6, 2023, in accordance with the provisions allowed under the LTIP, the Compensation Committee adjusted the exercise price of all outstanding stock options to $35.00 per share effective January 31, 2023 to account for the special dividend paid on that date.
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| Activity Pertaining to Nonemployee Director Stock Award Plan [Table Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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- Definition Schedule Of Share Based Compensation Restricted Stock Awards Stock Options And Stock Appreciation Rights [Table Text Block] No definition available.
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- References No definition available.
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock awards granted to nonemployee directors that were outstanding at the beginning and end of the year, and the number of awards that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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DERIVATIVES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Non-designated Hedges Outstanding [Table Text Block] | The following non-designated hedges were outstanding as of December 31, 2022:
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| Fair Value Of Derivative Instruments And Locations In Balance Sheets [Table Text Block] | The following tables present the recognized liabilities on our consolidated balance sheets as of the dates identified:
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| Effect Of Derivative Instruments Recognized In Statement Of Operations, Not Designated As Hedging Instruments [Table Text Block] | The following table presents the activity related to derivative instruments in the consolidated statements of operations during the periods indicated:
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- Definition Non-designated hedges outstanding [Table Text Block] No definition available.
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- References No definition available.
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- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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LEASES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating leases | The following table presents the maturities, weighted average remaining lease term, and the weighted average discount rate of our operating lease liabilities as of December 31, 2022:
1.Our weighted average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease.
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| Assets And Liabilities, Lessee | The following table presents the operating and finance lease assets and liabilities on our consolidated balance sheets:
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| Schedule of lease costs | The following table presents the components of total lease cost for our operating and finance leases during the periods indicated:
1.Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $1.8 million and $1.5 million for the year ended December 31, 2022 and 2021, respectively.
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| Supplemental cash flow information related to leases | The following table presents supplemental cash flow information related to our operating and finance leases during the periods indicated:
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- Definition Assets And Liabilities, Lessee No definition available.
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- Definition Supplemental cash flow information related to leases No definition available.
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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FAIR VALUE MEASUREMENTS (Tables) |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Recurring Fair Value Measurements [Table Text Block] | The following tables present our recurring fair value measurements as of the identified dates:
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| Reconciliations Of Level 3 Fair Value Measurements [Table Text Block] | The following table presents the activity of our recurring Level 3 fair value measurements during the periods presented:
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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SUPERIOR INVESTMENT (Tables) |
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| Variable Interest Entity Arrangements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Incentive Distributions Made to Managing Members or General Partners by Distribution | The following table presents the distributions paid by Superior to each of the members during the years ended December 31, 2022 and 2021:
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| Schedule of Assets and Liabilities |
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- Definition Variable Interest Entity Arrangements No definition available.
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- Definition Tabular disclosure of incentive payments in cash or stock or units paid during the accounting period to managing members or general partners of a limited liability corporation or limited partnership, as governed by the operating or partnership agreement. Disclosure may include identification of recipient, payments made, minimum distribution level, date payments are received, distributions per unit and per year, subsequent distribution amount and date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS (Tables) |
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| Risks and Uncertainties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedules of Concentration of Risk, by Risk Factor | The following table presents third-party customers that accounted for over 10% of each of our segments' revenues:
* Revenue accounted for less than 10% of the segment's revenues. 1) See Note 19 - Superior Investment for information on affiliate activity with Superior 2) Mid-Stream amounts shown in this table for the year ended December 31, 2022 reflect Superior activity on a consolidated basis for the two months prior to March 1, 2022.
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- Definition Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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INDUSTRY SEGMENT INFORMATION (Tables) |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue From Different Segments [Table Text Block] | The following tables present information about the operations and assets for each of our segments:
1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time. 2.Oil and natural gas assets include oil and natural gas properties, saltwater disposal systems, and other non-full cost pool assets. 3.Identifiable assets are those used in Unit’s operations in each industry segment. 4.Other corporate assets are primarily cash and cash equivalents, transportation and other equipment, and our Superior equity method investment. 5.Includes Superior activity for the two months prior to the March 1, 2022 deconsolidation, as discussed in Note 2 - Summary Of Significant Accounting Policies and Note 19 - Superior Investment. Superior's standalone total revenues and total operating costs for the year ended December 31, 2022 were $528.8 million and $452.1 million, respectively.
1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time. 2.Oil and natural gas assets include oil and natural gas properties, saltwater disposal systems, and other non-full cost pool assets. 3.Identifiable assets are those used in Unit’s operations in each industry segment. 4.Other corporate assets are principally cash and cash equivalents, short-term investments, transportation equipment, furniture, and equipment.
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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Schedule II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Tables) |
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| SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Valuation Allowance [Table Text Block] | Allowance for Credit Losses:
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- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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SUPPLEMENTAL OIL AND GAS DISCLOSURES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Oil and Gas Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block] | The following table presents capitalized costs related to our oil and natural gas activities:
1.Presented gross of any inter-segment eliminations which reduce the consolidated capitalized costs. See Note 22 - Industry Segment Information for detail on inter-segment eliminations.
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| Schedule Of The Oil And Natural Gas Property Costs Not Being Amortized [Table Text Block] | The following table presents costs incurred related to our oil and natural gas activities during the periods indicated:
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| Results Of Operations For Producing Activities [Table Text Block] | The following table presents results of operations for producing activities before inter-segment eliminations during the periods indicated:
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| Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Table Text Block] | The table below presents estimated quantities of proved developed oil, NGLs, and natural gas reserves and changes in net quantities of proved developed and undeveloped oil, NGLs, and natural gas reserves:
1.Revisions of previous estimates increased primarily due to changes in the unescalated 12-month average product prices which increased approximately 68% for oil, 136% for NGLs, and 82% for natural gas compared to the December 31, 2020 pricing. 2.Revisions of previous estimates increased primarily due to changes in the unescalated 12-month average product prices which increased approximately 41% for oil and 77% for natural gas compared to the December 31, 2021 pricing. 3.See Note 5 - Acquisitions And Divestitures for discussion of the assets divested during the years ended December 31, 2022 and 2021, respectively.
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| Standardized Measure Of Discounted Future Cash Flows Relating To Proved Reserves Disclosure [Table Text Block] | The standardized measure of discounted future net cash flows (SMOG) was calculated using 12-month average prices and year end costs adjusted for permanent differences that relate to existing proved oil, NGLs, and natural gas reserves. Future income tax expenses consider the Tax Act statutory tax rates. The following table presents the components of the standardized measure of discounted future net cash flows:
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| Schedule Of Principal Sources Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Table Text Block] | The following table presents the principal sources of changes in the standardized measure of discounted future net cash flows:
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| X | ||||||||||
- Definition Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Schedule Of Principal Sources Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Table Text Block] No definition available.
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| X | ||||||||||
- Definition Supplemental Oil and Gas Disclosures [Abstract] No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of aggregate capitalized costs relating to an enterprise's oil and gas producing activities and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Tabular disclosure of the results of operations for oil and gas producing activities for the year. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Tabular disclosure of the capitalized costs of unproved properties and major development projects that are excluded from capitalized costs being amortized. This includes the total costs excluded and, at a minimum, these categories of costs: acquisition costs, exploration costs, development costs in the case of significant development projects, and capitalized interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
ORGANIZATION AND BUSINESS (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2022
segment
| |
| Schedule of Equity Method Investments [Line Items] | |
| Number of Reportable Segments | 3 |
| Superior Pipeline Company, L.L.C. | |
| Schedule of Equity Method Investments [Line Items] | |
| Ownership interest (percent) | 50.00% |
| X | ||||||||||
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
2020 EMERGENCE FROM VOLUNTARY REORGANIZATION UNDER CHAPTER 11 - Additional Information (Details) $ / shares in Units, shares in Thousands |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2022
USD ($)
$ / shares
|
Dec. 31, 2021
$ / shares
|
Sep. 03, 2020
$ / shares
shares
|
|
| Shares, Issued | shares | 12,000 | ||
| Common stock, par value | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 |
| Substantial stockholder percentage | 0.0475 | ||
| Conversion ratio | 0.03460447 | ||
| Proceeds from warrant exercises | $ | $ 1,822,231 |
| X | ||||||||||
- Definition Class Of Warrants Or Rights, Warrant Conversion Ratio No definition available.
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| X | ||||||||||
- Definition Substantial Stockholder Percentage No definition available.
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| X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash inflow associated with the amount received from holders exercising their stock warrants. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Apr. 07, 2022 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
| Non-controlling interests in consolidated subsidiaries | $ 0 | $ (212,271,000) | |
| Retained earnings | 189,440,000 | 41,071,000 | |
| Average rates used for depreciation, depletion, and amortization per Boe | 1.49 | 2.67 | |
| Capitalized costs, asset retirement costs | 100,000 | ||
| Gas Balancing Asset (Liability) | 4,257,000 | $ 1,090,000 | |
| Exercise price of warrants or rights | $ 63.74 | ||
| Warrant reclassified | $ 49,100,000 | 49,145,000 | |
| Natural Gas Balancing | |||
| Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
| Accounts receivable | 3,500,000 | ||
| Minimum | |||
| Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
| Insurance coverage | $ 0 | ||
| Minimum | Property, Plant and Equipment, Other Types | |||
| Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
| Useful life, years | 3 years | ||
| Maximum | |||
| Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
| Insurance coverage | $ 1,000,000 | ||
| Maximum | Property, Plant and Equipment, Other Types | |||
| Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
| Useful life, years | 15 years | ||
| X | ||||||||||
- Definition Oil and gas properties average depreciation depletion and amortization rate No definition available.
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| X | ||||||||||
- Definition Warrant Reclassified No definition available.
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| X | ||||||||||
- Definition Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of asset retirement costs previously incurred and capitalized separately from the capitalized amount of the associated long-lived assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Exercise price per share or per unit of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Definition The value of gas balancing asset or liability as of the end of the period. No definition available.
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| X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
| X | ||||||||||
- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Carrying amount (including both current and noncurrent portions) of accrued known and estimated losses incurred as of the balance sheet date for which no insurance coverage exists, and for which a claim has been made or is probable of being asserted, typically arising from workmen's compensation-type of incidents and personal injury to nonemployees from accidents on the entity's property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
IMPAIRMENTS (Details) $ in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2021
USD ($)
| |
| Property, Plant and Equipment [Line Items] | |
| Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration] | Impairments (Note 3) |
| Mid-Stream | |
| Property, Plant and Equipment [Line Items] | |
| Impairment of Long-Lived Assets Held-for-use | $ 10.7 |
| X | ||||||||||
- Definition Indicates line item in statement of income or comprehensive income that includes impairment of long-lived asset held for use. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
REVENUE FROM CONTRACTS WITH CUSTOMERS (Narrative) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
|
| Segment Reporting Information [Line Items] | |||
| Retained earnings | $ 189,440 | $ 41,071 | |
| Total shareholders' equity | 362,626 | 399,668 | $ 425,593 |
| Retained Earnings (Deficit) | |||
| Segment Reporting Information [Line Items] | |||
| Total shareholders' equity | $ 189,440 | $ 41,071 | $ (18,140) |
| Oil and Natural Gas | |||
| Segment Reporting Information [Line Items] | |||
| Revenue Satisfied at Point in Time, Transfer of Control | Revenues from oil and natural gas sales are recognized when the customer obtains control of the sold product which typically occurs at the point of delivery to the customer. | ||
| Mid-Stream | |||
| Segment Reporting Information [Line Items] | |||
| Change in contact assets and liabilities, net | $ 1,588 |
| X | ||||||||||
- Definition Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Description of judgment made in evaluating when customer obtains control of promised good or service for performance obligation satisfied at point in time. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
REVENUE FROM CONTRACTS WITH CUSTOMERS (Contract with Customer, Asset and Liability) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Disaggregation of Revenue [Line Items] | ||
| Contract liability | $ 200 | $ 1,788 |
| Mid-Stream | ||
| Disaggregation of Revenue [Line Items] | ||
| Current contract assets | 0 | 174 |
| Non-current contract assets | 0 | 0 |
| Contract assets | 0 | 174 |
| Contract with Customer, Current Asset, Reclassified to Receivable | (174) | |
| Contract with Customer, Non-current Asset, Reclassified to Receivable | 0 | |
| Change in contract assets | (174) | |
| Current Contract Liabilities | 24 | 1,588 |
| Non-current contract liabilities | 176 | 200 |
| Contract liability | 200 | 1,788 |
| Contract with Customer, Current Liability, Revenue Recognized | (1,564) | |
| Contract with Customer, Non-current Liability, Revenue Recognized | (24) | |
| Change in contract assets (liabilities) | (1,588) | |
| Contract asset (liabilities), net | (200) | $ (1,614) |
| Change in contract liabilities | $ 1,414 |
| X | ||||||||||
- Definition Change in contract liabilities, net No definition available.
|
| X | ||||||||||
- Definition Contract asset (liabilities), net No definition available.
|
| X | ||||||||||
- Definition Contract with Customer, Current Asset, Reclassified to Receivable No definition available.
|
| X | ||||||||||
- Definition Contract with Customer, Current Liability, Revenue Recognized No definition available.
|
| X | ||||||||||
- Definition Contract with Customer, Non-current Asset, Reclassified to Receivable No definition available.
|
| X | ||||||||||
- Definition Contract with Customer, Non-current Liability, Revenue Recognized No definition available.
|
| X | ||||||||||
- Definition Amount, after allowance for credit loss, of right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after allowance for credit loss, of right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after allowance for credit loss, of right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of decrease in right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time from transfer to receivable due to right to consideration becoming unconditional. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
ACQUISITIONS AND DIVESTITURES - Narrative (Details) $ in Thousands |
1 Months Ended | 8 Months Ended | 12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|
|
Jul. 01, 2022
USD ($)
|
Jan. 26, 2022
USD ($)
|
Sep. 17, 2021
USD ($)
|
Aug. 16, 2021
USD ($)
|
May 06, 2021
USD ($)
|
Nov. 30, 2021
USD ($)
rig
|
Aug. 31, 2020
USD ($)
|
Dec. 31, 2022
USD ($)
|
Dec. 31, 2021
USD ($)
|
|
| Acquisitions and Divestitures [Line Items] | |||||||||
| Proceeds from divestiture of assets | $ 45,400 | ||||||||
| Gain (Loss) on Disposition of Assets | $ 8,367 | $ 10,877 | |||||||
| Consideration transferred | $ 13,000 | ||||||||
| Pipeline size | rig | 1,620 | ||||||||
| Oil and Natural Gas | |||||||||
| Acquisitions and Divestitures [Line Items] | |||||||||
| Proceeds from Sale of Other Assets | $ 3,600 | $ 16,100 | $ 7,300 | ||||||
| Gain (Loss) on Disposition of Assets | 0 | (171) | |||||||
| Drilling | |||||||||
| Acquisitions and Divestitures [Line Items] | |||||||||
| Proceeds from divestiture of assets | $ 12,700 | 12,800 | |||||||
| Gain (Loss) on Disposition of Assets | 10,100 | 8,404 | 10,143 | ||||||
| Corporate and Other | |||||||||
| Acquisitions and Divestitures [Line Items] | |||||||||
| Gain (Loss) on Disposition of Assets | (37) | $ 954 | |||||||
| Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | $ 35,000 | ||||||||
| Gain (loss) on sale of drilling rigs | 900 | ||||||||
| Disposition Of Property Plant Equipment, Transaction Cost | $ 2,200 | ||||||||
| Oil and Natural Gas | |||||||||
| Acquisitions and Divestitures [Line Items] | |||||||||
| Proceeds from divestiture of assets | $ 5,000 | $ 7,700 | |||||||
| X | ||||||||||
- Definition Disposition Of Property Plant Equipment, Transaction Cost No definition available.
|
| X | ||||||||||
- Definition Divestiture [Line Items] No definition available.
|
| X | ||||||||||
- Definition Pipeline Size No definition available.
|
| X | ||||||||||
- Definition Amount of consideration transferred in asset acquisition. Includes, but is not limited to, cash, liability incurred by acquirer, and equity interest issued by acquirer. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount classified as property, plant and equipment attributable to disposal group held for sale or disposed of. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash inflow from the sale of other assets as part of operating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
SHAREHOLDERS' EQUITY AND DIVIDENDS - Narative (Details) |
12 Months Ended | ||||
|---|---|---|---|---|---|
|
Jan. 31, 2023
USD ($)
$ / shares
|
Dec. 31, 2022
USD ($)
$ / shares
shares
|
Apr. 07, 2022
$ / shares
|
Dec. 31, 2021
$ / shares
|
Sep. 03, 2020
$ / shares
shares
|
|
| Equity, Class of Treasury Stock [Line Items] | |||||
| Shares, Issued | shares | 12,000,000 | ||||
| Common stock, par value | $ 0.01 | $ 0.01 | $ 0.01 | ||
| Substantial stockholder percentage | 0.0475 | ||||
| Stock repurchased (in shares) | shares | 2,472,392 | ||||
| Conversion ratio | 0.03460447 | ||||
| Proceeds from warrant exercises | $ | $ 1,822,231 | ||||
| Exercise price of warrants or rights | $ 63.74 | ||||
| Subsequent Event | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Cash dividends paid | $ 10.00 | ||||
| Dividends, cash | $ | $ 96,100,000 |
| X | ||||||||||
- Definition Class Of Warrants Or Rights, Warrant Conversion Ratio No definition available.
|
| X | ||||||||||
- Definition Substantial Stockholder Percentage No definition available.
|
| X | ||||||||||
- Definition Exercise price per share or per unit of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of paid and unpaid cash dividends declared for classes of stock, for example, but not limited to, common and preferred. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The cash inflow associated with the amount received from holders exercising their stock warrants. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
SHAREHOLDERS' EQUITY AND DIVIDENDS - Repurchases (Details) - USD ($) |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
Jun. 30, 2022 |
Oct. 31, 2021 |
Jun. 30, 2021 |
|
| Equity, Class of Treasury Stock [Line Items] | |||||
| Share repurchase program, aggregate purchase price | $ 27,434,000 | $ 51,965,000 | |||
| Stock repurchase program, authorized amount | $ 100,000,000 | $ 50,000,000 | $ 25,000,000 | ||
| Repurchase Program | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Stock repurchased from lenders (in shares) | 522,000 | 1,272,000 | |||
| Share repurchase program, aggregate purchase price | $ 27,421,000 | $ 41,430,000 | |||
| Shares repurchased, price per share (in USD per share) | $ 52.49 | $ 32.57 | |||
| Lender Repurchases | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Stock repurchased from lenders (in shares) | 600,000 | ||||
| Share repurchase program, aggregate purchase price | $ 9,000,000 | ||||
| Shares repurchased, price per share (in USD per share) | $ 15.00 | ||||
| Other Repurchases | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Stock repurchased from lenders (in shares) | 78,000 | ||||
| Share repurchase program, aggregate purchase price | $ 1,487,000 | ||||
| Shares repurchased, price per share (in USD per share) | $ 19.07 | ||||
| Total Repurchases | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Stock repurchased from lenders (in shares) | 522,000 | 1,950,000 | |||
| Share repurchase program, aggregate purchase price | $ 27,421,000 | $ 51,917,000 | |||
| Shares repurchased, price per share (in USD per share) | $ 52.49 | $ 26.62 | |||
| June 2021 Repurchase Program | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Stock repurchased from lenders (in shares) | 1,794,392 | ||||
| Share repurchase program, aggregate purchase price | $ 68,900,000 | ||||
| Shares repurchased, price per share (in USD per share) | $ 38.37 | ||||
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of stock repurchase plan authorized. No definition available.
|
| X | ||||||||||
- Definition Number of shares that have been repurchased and retired during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total cost of shares repurchased divided by the total number of shares repurchased. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
EARNINGS (LOSS) PER SHARE (Schedule Of Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
8 Months Ended | 12 Months Ended | |
|---|---|---|---|
Aug. 31, 2020 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Earnings Per Share [Abstract] | |||
| Income (loss) of basic earnings (loss) attributable to Unit Corporation per common share | $ 60,647 | $ 148,369 | $ 60,647 |
| Income (loss) of effect of dilutive stock options and restricted stock | 0 | $ 0 | |
| Income (loss) of diluted earnings (loss) attributable to Unit Corporation per common share | $ 148,369 | ||
| Weighted shares of basic earnings (loss) attributable to Unit Corporation per common share | 11,520 | 9,874 | 11,405 |
| Weighted shares of effect of dilutive stock options and restricted stock | 164 | 115 | |
| Weighted shares of diluted earnings (loss) attributable to Unit Corporation per common share | 10,038 | ||
| Per share amount of basic earnings (loss) attributable to Unit Corporation per common share | $ 5.26 | $ 15.03 | $ 5.32 |
| Per share amount of effect of dilutive stock options and restricted stock | (0.25) | (0.06) | |
| Diluted loss attributable to Unit Corporation per common share | $ 14.78 | $ 5.26 | |
| X | ||||||||||
- Definition Incremental Per Share Effect Of Dilutive Income Changes Over Dilutive Share Changes No definition available.
|
| X | ||||||||||
- Definition Amount of increase (decrease) to net income used for calculating diluted earnings per share (EPS), resulting from the assumed exercise stock options, restrictive stock units (RSUs), convertible preferred stock of an employee stock ownership plan (ESOP), and other dilutive convertible securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
EARNINGS (LOSS) PER SHARE (Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share) (Details) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
Apr. 07, 2022 |
|
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
| Options | 1,822,206 | ||
| Exercise price of warrants or rights | $ 63.74 | ||
| Stock Options | |||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
| Options | 355,827 | 361,418 | |
| Exercise price of warrants or rights | $ 45.00 | $ 45.00 | |
| X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Exercise price per share or per unit of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
ACCRUED LIABILITIES (Accrued Liabilities) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Accrued Liabilities [Abstract] | ||
| Employee costs | $ 5,905 | $ 10,005 |
| Lease operating expenses | 3,383 | 3,451 |
| Capital Expenditure Accrual | 6,359 | 3,962 |
| Taxes | 1,035 | 3,320 |
| Interest payable | 40 | 296 |
| Other | 1,994 | 1,416 |
| Total accrued liabilities | $ 18,716 | $ 22,450 |
| X | ||||||||||
- Definition Accrued Oil And Gas Production Expense Current No definition available.
|
| X | ||||||||||
- Definition Capital Expenditure Accrual No definition available.
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations, excluding pension and other postretirement benefits, incurred through that date and payable for perquisites provided to employees pertaining to services received from them. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES (Long-Term Debt) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Successor Exit Facility | Current portion of long-term debt | ||
| Current portion of long-term debt: | ||
| Line of Credit, Current | $ 0 | |
| Successor Exit Facility | Long-term Debt | ||
| Long-term debt: | ||
| Long-term Line of Credit | $ 0 | $ 0 |
| Superior Credit Agreement [Member] | Long-term Debt | ||
| Long-term debt: | ||
| Long-term Line of Credit | $ 19,200 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES (Narrative) (Details) - USD ($) |
Nov. 01, 2022 |
Apr. 29, 2022 |
Sep. 03, 2020 |
May 10, 2018 |
Dec. 31, 2022 |
Jul. 01, 2022 |
Dec. 31, 2021 |
Oct. 19, 2021 |
|---|---|---|---|---|---|---|---|---|
| Debt Instrument [Line Items] | ||||||||
| Long-term debt (Note 9) | $ 0 | $ 19,200,000 | ||||||
| Superior Credit Agreement [Member] | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Credit Facility Maximum Credit Amount | 250,000,000 | |||||||
| Credit facility current credit amount | 200,000,000 | |||||||
| Superior Credit Agreement [Member] | Long-term Debt | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Long-term Line of Credit | 19,200,000 | |||||||
| Superior Credit Agreement [Member] | Fed Funds Effective Rate Overnight Index Swap Rate | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||||
| Superior Credit Agreement [Member] | Minimum | Thirty-Day LIBOR Rate | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||||||
| Superior Credit Agreement [Member] | Minimum | London Interbank Offered Rate (LIBOR) | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||||
| Superior Credit Agreement [Member] | Maximum | Thirty-Day LIBOR Rate | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 2.25% | |||||||
| Superior Credit Agreement [Member] | Maximum | London Interbank Offered Rate (LIBOR) | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 3.25% | |||||||
| Successor Exit Facility | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Current ratio of credit facility | 1.00 | |||||||
| Interest Coverage Ratio | 2.50 | |||||||
| Successor Exit Facility | Long-term Debt | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Long-term Line of Credit | 0 | $ 0 | ||||||
| Successor Exit Facility | Current portion of long-term debt | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Current portion of long-term debt (Note 9) | 0 | |||||||
| Successor Exit Facility | July 1, 2022 to September 30, 2022 | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Net leverage ratio | 3.25 | |||||||
| Successor Exit Facility | Revolving Credit Facility | Alternate Base Rate | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 4.25% | 4.25% | ||||||
| Successor Exit Facility | Revolving Credit Facility | Eurodollar | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 5.25% | |||||||
| Successor Exit Facility | Revolving Credit Facility | Adjusted Term Secured Overnight Financing Rate | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 5.25% | |||||||
| Successor Exit Facility | Term loan | Alternate Base Rate | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 5.25% | |||||||
| Successor Exit Facility | Term loan | Eurodollar | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 6.25% | |||||||
| Successor Exit Facility | Letter of Credit | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Letters of Credit Outstanding, Amount | $ 2,700,000 | |||||||
| Successor Exit Facility | Secured Debt | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Maturity Date | Mar. 01, 2024 | |||||||
| Successor Exit Facility | Secured Debt | Revolving Credit Facility | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Credit Facility Maximum Credit Amount | $ 35,000,000 | $ 140,000,000 | $ 31,300,000 | $ 80,000,000 | ||||
| Successor Exit Facility | Secured Debt | Term loan | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Credit Facility Maximum Credit Amount | $ 40,000,000 | |||||||
| Amended Superior Credit Agreement | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Credit Facility Maximum Credit Amount | $ 200,000,000 | |||||||
| Superior Credit Agreement, Term | 4 years | |||||||
| Credit facility current credit amount | $ 135,000,000 | |||||||
| Amended Superior Credit Agreement | Fed Funds Effective Rate Overnight Index Swap Rate | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||||||
| Amended Superior Credit Agreement | Secured Overnight Financing Rate (SOFR) | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||||
| Amended Superior Credit Agreement | Minimum | Secured Overnight Financing Rate (SOFR) | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||||||
| Amended Superior Credit Agreement | Minimum | Base Rate | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||||||
| Amended Superior Credit Agreement | Maximum | Secured Overnight Financing Rate (SOFR) | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 3.75% | |||||||
| Amended Superior Credit Agreement | Maximum | Base Rate | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Debt Instrument, Basis Spread on Variable Rate | 2.75% |
| X | ||||||||||
- Definition Current ratio of credit facility. No definition available.
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| X | ||||||||||
- Definition Interest Coverage Ratio No definition available.
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| X | ||||||||||
- Definition Net leverage ratio No definition available.
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| X | ||||||||||
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in YYYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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| X | ||||||||||
- Definition The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
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| X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt classified as noncurrent. Excludes lease obligation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES (Other Long-Term Liabilities) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
|---|---|---|---|
| Long-term debt and other long-term liabilites [Abstract] | |||
| ARO liability | $ 23,440 | $ 25,688 | $ 23,356 |
| Workers' Compensation Liability | 8,344 | 7,925 | $ 10,164 |
| Contract liability | 200 | 1,788 | |
| Separation benefit plans | 1,110 | 2,022 | |
| Gas balancing liability | 4,257 | 1,090 | |
| Other liabilities | 37,351 | 38,513 | |
| Current portion of other long-term liabilities | 3,989 | 5,574 | |
| Other long-term liabilities | $ 33,362 | $ 32,939 |
| X | ||||||||||
- Definition Long-term debt and other long-term liabilites [Abstract] No definition available.
|
| X | ||||||||||
- Definition The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The value of gas balancing asset or liability as of the end of the period. No definition available.
|
| X | ||||||||||
- Definition Amount of obligations incurred for employer-related costs classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of liabilities classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations and payables pertaining to claims incurred of a workers compensation nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
ASSET RETIREMENT OBLIGATIONS (Schedule Of Asset Retirement Obligations) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Asset Retirement Obligation Disclosure [Abstract] | ||
| ARO liability, Beginning Balance: | $ 25,688 | $ 23,356 |
| Accretion of discount | 1,798 | 1,892 |
| Liability incurred | 22 | 7 |
| Liability settled | (1,085) | (1,140) |
| Liability sold | (7,284) | (1,935) |
| Revision of estimates | 4,301 | 3,507 |
| ARO liability, Ending Balance: | 23,440 | 25,688 |
| Less current portion | 2,858 | 2,537 |
| Total long-term ARO liability | $ 20,582 | $ 23,151 |
| X | ||||||||||
- Definition Asset Retirement Obligation, Liabilities Sold No definition available.
|
| X | ||||||||||
- Definition The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Current portion of the carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of asset retirement obligations incurred during the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of asset retirement obligations settled, or otherwise disposed of, during the period. This may include asset retirement obligations transferred to third parties associated with the sale of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in the asset retirement obligation from changes in the amount or timing of the estimated cash flows associated with the settlement of the obligation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Noncurrent portion of the carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
WORKERS' COMPENSATION - Workers' Liability (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Workers' Liability [Roll Forward] | ||
| Beginning balance | $ 7,925 | $ 10,164 |
| Claims and valuation adjustments | 838 | (1,834) |
| Payments | (419) | (405) |
| Ending balance | 8,344 | 7,925 |
| Less: current portion | 1,070 | 1,221 |
| Long-term workers' compensation liability | $ 7,274 | $ 6,704 |
| X | ||||||||||
- Definition Workers' Compensation Liability, Claims And Valuation Adjustments No definition available.
|
| X | ||||||||||
- Definition Workers' Compensation Liability, Payments No definition available.
|
| X | ||||||||||
- Definition Workers' Liability No definition available.
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations and payables pertaining to claims incurred of a workers compensation nature. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations and payables pertaining to claims incurred of a workers compensation nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations and payables pertaining to claims incurred of a workers compensation nature. Used to reflect the noncurrent portion of the liabilities (due beyond one year; or beyond one operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
WORKERS' COMPENSATION - Additional Information (Details) - USD ($) $ in Millions |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Payables and Accruals [Abstract] | ||
| Traumatic injury claims | $ 4.8 | $ 4.0 |
| X | ||||||||||
- Definition Workers' Compensation, Traumatic Injury Claims No definition available.
|
| X | ||||||||||
- References No definition available.
|
INCOME TAXES (Reconciliation Of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Income Tax Disclosure [Abstract] | ||
| Income tax expense (benefit) computed by applying the statutory rate | $ 31,228 | $ 12,772 |
| State income tax expense (benefit), net of federal benefit | 5,538 | 2,129 |
| Restricted stock shortfall | (723) | 0 |
| Non-controlling interest in Superior | (1,428) | (3,046) |
| Valuation allowance | (43,008) | (16,612) |
| Deferred tax liability revaluation | 7,184 | 4,640 |
| Statutory depletion and other | 1,542 | 290 |
| Income tax benefit | $ 333 | $ 173 |
| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations, attributable to increase (decrease) in the income tax rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to noncontrolling interest income (loss) exempt from income taxes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible depletion. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of reported income tax expense (benefit) in excess of (less than) expected income tax expense (benefit) computed by applying domestic federal statutory income tax rate to pretax income (loss) from continuing operation, attributable to nondeductible expense for award under share-based payment arrangement. Includes, but is not limited to, expense determined to be nondeductible upon grant or after for award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to state and local income tax expense (benefit). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
INCOME TAXES (Schedule Of Total Provision For Income Taxes) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Income Tax Disclosure [Abstract] | ||
| Current taxes, Federal | $ 0 | $ 0 |
| Current taxes, State | 333 | 173 |
| Current taxes | 333 | 173 |
| Deferred taxes, Federal | 0 | 0 |
| Deferred taxes, State | 0 | 0 |
| Deferred taxes | 0 | 0 |
| Total provision | $ 333 | $ 173 |
| X | ||||||||||
- Definition Amount of current federal tax expense (benefit) attributable to income (loss) from continuing operations. Includes, but is not limited to, current national tax expense (benefit) for non-US (United States of America) jurisdiction. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of current state and local tax expense (benefit) attributable to income (loss) from continuing operations. Includes, but is not limited to, current regional, territorial, and provincial tax expense (benefit) for non-US (United States of America) jurisdiction. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of deferred federal tax expense (benefit) attributable to income (loss) from continuing operations. Includes, but is not limited to, deferred national tax expense (benefit) for non-US (United States of America) jurisdiction. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of deferred state and local tax expense (benefit) attributable to income (loss) from continuing operations. Includes, but is not limited to, deferred regional, territorial, and provincial tax expense (benefit) for non-US (United States of America) jurisdiction. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
INCOME TAXES (Schedule Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Income Tax Disclosure [Abstract] | ||
| Allowance for losses and nondeductible accruals | $ 15,662 | $ 23,819 |
| Net operating loss carryforward | 81,199 | 94,441 |
| Depreciation, depletion, amortization, and impairment | 43,172 | 68,001 |
| Alternative minimum tax and research and development tax credit carryforward | 1,738 | 1,738 |
| Deferred tax assets, total | 141,771 | 187,999 |
| Investment in Superior | (406) | (3,626) |
| Net deferred tax asset | 141,365 | 184,373 |
| Valuation allowance | (141,365) | (184,373) |
| Non-current-deferred tax liability | $ 0 | $ 0 |
| X | ||||||||||
- Definition Deferred Tax Assets, Depreciation, Depletion, Amortization, And Impairment No definition available.
|
| X | ||||||||||
- Definition Deferred tax assets tax deferred expense allowance for losses and nondeductible accruals No definition available.
|
| X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences, after deferred tax asset, and other tax liabilities expected to be paid after one year or operating cycle, if longer. No definition available.
|
| X | ||||||||||
- Definition Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible alternative minimum tax credit carryforwards. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from investments in unconsolidated subsidiaries and investments in other affiliates which are not controlled nor consolidated. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
INCOME TAXES (Narrative) (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2022
USD ($)
| |
| Operating Loss Carryforwards [Line Items] | |
| Cancellation of debt income not recognized for tax | $ 506,300 |
| Reduction to Operating Loss Carryforward due to CODI | 456,300 |
| Reduction in tax basis for assets | $ 50,000 |
| Valuation Allowance, Commentary | We concluded that it is more likely than not that the net deferred tax asset will not be realized and have recorded a full valuation allowance as of December 31, 2022 and 2021, reducing the net deferred tax asset to zero. The Company's pre-tax earnings since the Emergence Date remained in a three-year net cumulative loss position as of December 31, 2022, however, we will continue to evaluate whether the valuation allowance is appropriate in future reporting periods. Future events or new evidence which may lead the Company to conclude that it is more likely than not its net deferred tax assets will be realized include, but are not limited to, cumulative historical pre-tax earnings since the Emergence Date, sustained strength or improvements in commodity prices, sustained or improved rig utilization or rates, a material and sizable asset acquisition or disposition, and taxable events that could result from one or more future potential transactions. The valuation allowance does not prohibit the Company from utilizing the tax attributes if the Company recognizes taxable income. As long as the Company has deferred tax assets available and continues to conclude that the valuation allowance against its net deferred tax assets is necessary, the Company will not have significant deferred income tax expense or benefit. |
| Operating loss carryforwards | $ 331,400 |
| Operating loss carryforwards subject to expiration | $ 136,400 |
| Operating loss carryforwards expiration | 2036 |
| Tax basis in UPC's properties | $ 333,800 |
| X | ||||||||||
- Definition Cancellation of debt income not recognized for tax No definition available.
|
| X | ||||||||||
- Definition Operating loss carryforwards expiration No definition available.
|
| X | ||||||||||
- Definition Reduction in tax basis for assets No definition available.
|
| X | ||||||||||
- Definition Reduction to Operating Loss Carryforward due to CODI No definition available.
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards that are subject to expiration dates. No definition available.
|
| X | ||||||||||
- Definition Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The aggregate cost of investments for Federal income tax purposes. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Describes the facts and circumstances that resulted in an assessment that it is more likely than not that all or a portion of that deferred tax asset will not be realized. Includes in this description the following: (1) the amount of taxable income and the periods over which it must be earned to allow for the realization of the deferred tax asset; (2) actual levels of past taxable income; (3) reasons for significant differences in actual levels of past taxable income and pretax book income; and (4) known trends, events or transactions that are expected to affect future levels of taxable income. No definition available.
|
EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands |
8 Months Ended | 12 Months Ended | |
|---|---|---|---|
Aug. 31, 2020 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Recognized stock compensation expense | $ 6,718 | $ 826 | |
| Separation Plan [Member] | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Separation benefit plans expense | $ 3,900 | $ 3,400 | |
| Employee Thrift Plan [Member] | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Recognized stock compensation expense | $ 1,600 | $ 1,400 | |
| X | ||||||||||
- Definition Separation benefit plans expense. No definition available.
|
| X | ||||||||||
- Definition Amount of expense for award under share-based payment arrangement. Excludes amount capitalized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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TRANSACTIONS WITH RELATED PARTIES (Narrative) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Kaiser Francis Oil Company | ||
| Related Party Transaction [Line Items] | ||
| Payments made to related parties | $ 5,656 | $ 5,748 |
| Payments received from related parties | 12,869 | 6,237 |
| Cactus Drilling Company | ||
| Related Party Transaction [Line Items] | ||
| Payments made to related parties | $ 0 | $ 772 |
| X | ||||||||||
- Definition For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of obligations due all related parties. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
STOCK-BASED COMPENSATION (Narrative) (Details) |
Sep. 03, 2020
shares
|
|---|---|
| Restricted Stock | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Maximum number of shares of common stock allowed for the issuance | 903,226 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Number of shares authorized for issuance under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Details
|
STOCK-BASED COMPENSATION (Schedule Of Restricted Stock Awards) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Share-Based Payment Arrangement [Abstract] | ||
| Recognized stock compensation expense | $ 6,718 | $ 826 |
| Capitalized stock compensation cost for our oil and natural gas properties | 0 | 0 |
| Tax benefit on stock based compensation | $ 1,646 | $ 202 |
| X | ||||||||||
- Definition Amount of expense for award under share-based payment arrangement. Excludes amount capitalized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cost capitalized for award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of tax benefit for recognition of expense of award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
STOCK-BASED COMPENSATION (Activity Pertaining To Restricted Stock Awards) (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
Oct. 31, 2021 |
Dec. 31, 2020 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Weighted average price, beginning balance | $ 45.00 | $ 0 | ||
| Number of shares, vested | (319,166) | (361,418) | 0 | |
| Weighted average price, ending balance | $ 45.00 | $ 45.00 | ||
| Grant date fair value | $ 4.1 | |||
| Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 361,418 | |||
| Weighted average price, granted | $ 45.00 | |||
| Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | |||
| Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0 | |||
| Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | ||
| Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ 0 | $ 0 | ||
| Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number | 108,755 | 0 | ||
| Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 45.00 | $ 0 | ||
| Restricted Stock - Employee | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Grant date fair value | $ 0.2 | |||
| Fair value of nonvested RSUs outstanding | $ 4.2 | |||
| Weighted average remaining service period | 1 year 2 months 12 days | |||
| Equity Option | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Weighted average price, beginning balance | $ 45.00 | |||
| Number of shares, vested | (361,418) | |||
| Weighted average price, ending balance | $ 45.00 | |||
| Grant date fair value | $ 0.1 | |||
| Fair value of nonvested RSUs outstanding | $ 2.7 | |||
| Weighted average remaining service period | 1 year 2 months 12 days | |||
| Weighted average remaining contractual term, years | 3 years 8 months 12 days | |||
| Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 13,416 | |||
| Weighted average price, granted | $ 45.00 | |||
| Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | (55,668) | |||
| Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 45.00 | |||
| X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Options, Granted, Fair Value No definition available.
|
| X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Fair Value No definition available.
|
| X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Service Period No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Gross number of share options (or share units) granted during the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Number of options outstanding, including both vested and non-vested options. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average price at which option holders acquired shares when converting their stock options into shares. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
STOCK-BASED COMPENSATION (Activity Pertaining to Nonemployee Director Stock Award Plan) (Details) - USD ($) |
1 Months Ended | 12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Oct. 01, 2024 |
Sep. 03, 2024 |
Oct. 01, 2023 |
Sep. 03, 2023 |
Nov. 21, 2022 |
Sep. 03, 2022 |
May 27, 2022 |
Apr. 30, 2022 |
Oct. 31, 2021 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Jan. 06, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||||||||||||
| Weighted average price, beginning balance | $ 45.00 | $ 0 | ||||||||||
| Weighted average price, ending balance | $ 45.00 | $ 45.00 | ||||||||||
| Grant date fair value | $ 4,100,000 | |||||||||||
| Exercisable options intrinsic value | $ 4,100,000 | |||||||||||
| Weighted average remaining contractual term | 3 years 9 months 18 days | |||||||||||
| Options, exercisable, intrinsic value | $ 1,400,000 | |||||||||||
| Subsequent Event | ||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||||||||||||
| Adjustment to excercise price | $ 35.00 | |||||||||||
| Share-Based Payment Arrangement, Tranche Four | ||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||||||||||||
| Award vesting rights, percentage | 33.33333% | 25.00% | 25.00% | |||||||||
| Share-Based Payment Arrangement, Tranche Four | Forecast | ||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||||||||||||
| Award vesting rights, percentage | 33.33333% | 25.00% | 33.33333% | 25.00% | ||||||||
| Restricted Stock - Employee | ||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||||||||||||
| Grant date fair value | 200,000 | |||||||||||
| Fair value of nonvested RSUs outstanding | $ 4,200,000 | |||||||||||
| Weighted average remaining service period | 1 year 2 months 12 days | |||||||||||
| Restricted Stock Units (RSUs) | ||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||||||||
| Number of shares, beginning balance | 315,529 | 0 | ||||||||||
| Number of shares, granted | 7,850 | 315,529 | ||||||||||
| Number of shares, vested | (151,341) | 0 | ||||||||||
| Number of shares, forfeited | (1,725) | 0 | ||||||||||
| Number of shares, ending balance | 170,313 | 315,529 | ||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||||||||||||
| Weighted average price, beginning balance | $ 26.71 | $ 0 | ||||||||||
| Weighted average price, granted | 30.50 | 26.71 | ||||||||||
| Weighted average price, vested | 26.33 | 0 | ||||||||||
| Weighted average price, forfeited | 34.00 | 0 | ||||||||||
| Weighted average price, ending balance | 27.15 | 26.71 | ||||||||||
| Aggregate grant date fair value | $ 1,400,000 | $ 7,000,000 | ||||||||||
| Equity Option | ||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||||||||||||
| Weighted average price, beginning balance | $ 45.00 | |||||||||||
| Weighted average price, ending balance | $ 45.00 | |||||||||||
| Grant date fair value | $ 100,000 | |||||||||||
| Fair value of nonvested RSUs outstanding | $ 2,700,000 | |||||||||||
| Weighted average remaining service period | 1 year 2 months 12 days | |||||||||||
| Weighted average remaining contractual term, years | 3 years 8 months 12 days | |||||||||||
| X | ||||||||||
- Definition Adjustment to Excercise Price No definition available.
|
| X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Grant Date Fair Value No definition available.
|
| X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Options, Granted, Fair Value No definition available.
|
| X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Fair Value No definition available.
|
| X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Service Period No definition available.
|
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Percentage of vesting of award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
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| X | ||||||||||
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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STOCK-BASED COMPENSATION (Predecessor Activity for Non-Employee Directors' Stock Option Plan) (Details) - $ / shares |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
| Number of shares, exercised | 0 | |
| Number of shares, forfeited | 0 | 0 |
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||
| Weighted average price, beginning balance | $ 45.00 | $ 0 |
| Weighted average price, granted | 45.00 | |
| Weighted average price, forfeited | 0 | 0 |
| Weighted average price, ending balance | $ 45.00 | $ 45.00 |
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
DERIVATIVES (Schedule of Non-designated Hedges Outstanding) (Details) - Swap - If Nymex |
12 Months Ended |
|---|---|
|
Dec. 31, 2022
$ / Unit
MMBTU
bbl
| |
| Natural gas | Jan'23 - Dec'23 | |
| Derivative Instruments, Gain (Loss) [Line Items] | |
| Hedged Volume (Mmbtu) | MMBTU | 22,000 |
| Swap price | 2.46 |
| Natural gas | Jan'23 - Feb'23 | |
| Derivative Instruments, Gain (Loss) [Line Items] | |
| Hedged Volume (Mmbtu) | MMBTU | 27,627 |
| Swap price | 9.14 |
| Natural gas | Jan'23 - Mar'23 | |
| Derivative Instruments, Gain (Loss) [Line Items] | |
| Hedged Volume (Mmbtu) | MMBTU | 25,000 |
| Swap price | (0.17) |
| Crude Oil | Jan'23 - Dec'23 | |
| Derivative Instruments, Gain (Loss) [Line Items] | |
| Hedged Volume (Bbl) | bbl | 1,300 |
| Swap price | 43.60 |
| Crude Oil | Jan'23 - Feb'23 | |
| Derivative Instruments, Gain (Loss) [Line Items] | |
| Hedged Volume (Bbl) | bbl | 1,339 |
| Swap price | 95.40 |
| X | ||||||||||
- Definition Non Designated Derivative Instrument Weighted Average Fixed Price For Swaps No definition available.
|
| X | ||||||||||
- Definition Not Designated as Hedging Instrument Hedged Volume of Oil No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Nominal energy measure used to calculate payments on a derivative instrument. No definition available.
|
| X | ||||||||||
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| X | ||||||||||
- Details
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| X | ||||||||||
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| X | ||||||||||
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| X | ||||||||||
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|
DERIVATIVES (Fair Value Of Derivative Instruments And Locations In Balance Sheets) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items] | ||
| Liabilities, Presented Gross | $ 32,113 | $ 78,553 |
| Liabilities, Effects of Netting | (8,547) | 0 |
| Liabilities, Presented Net | 23,566 | 78,553 |
| Assets, Presented Gross | 8,547 | |
| Assets, Effects of Netting | (8,547) | |
| Assets, Presented Net | 0 | |
| Current derivative liabilities | ||
| Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items] | ||
| Liabilities, Presented Gross | 32,113 | 40,876 |
| Liabilities, Effects of Netting | (8,547) | 0 |
| Liabilities, Presented Net | 23,566 | 40,876 |
| Assets, Presented Gross | 8,547 | |
| Assets, Effects of Netting | (8,547) | |
| Assets, Presented Net | 0 | |
| Non-current derivative liabilities | ||
| Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items] | ||
| Liabilities, Presented Gross | 0 | 17,855 |
| Liabilities, Effects of Netting | 0 | 0 |
| Liabilities, Presented Net | 0 | 17,855 |
| Assets, Presented Gross | 0 | |
| Assets, Effects of Netting | 0 | |
| Assets, Presented Net | 0 | |
| Warrant liability | ||
| Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items] | ||
| Liabilities, Presented Gross | 0 | 19,822 |
| Liabilities, Effects of Netting | 0 | 0 |
| Liabilities, Presented Net | $ 0 | $ 19,822 |
| X | ||||||||||
- Definition Derivative Asset, Effect Of Netting Arrangement No definition available.
|
| X | ||||||||||
- Definition Derivative Asset, Fair Value, After Netting Arrangement, Net No definition available.
|
| X | ||||||||||
- Definition Derivative Liability, Effect Of Netting Arrangement No definition available.
|
| X | ||||||||||
- Definition Derivative Liability, Fair Value, After Netting Arrangement, Net No definition available.
|
| X | ||||||||||
- Definition Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
DERIVATIVES (Effect Of Derivative Instruments Recognized In Statement Of Operations, Not Designated As Hedging Instruments) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Loss on derivatives | $ (63,610) | $ (97,615) |
| Cash settlements paid on commodity derivatives | (98,775) | (44,591) |
| Gain (loss) on derivatives not designated as hedges and hedge ineffectiveness [Member] | Warrant | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Loss on change in fair value of warrants | (29,323) | (18,937) |
| Commodity Contract | Gain (loss) on derivatives not designated as hedges and hedge ineffectiveness [Member] | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Loss on derivatives | (63,610) | (97,615) |
| Cash settlements paid on commodity derivatives | (98,775) | (44,591) |
| Loss on derivatives less cash settlements paid on commodity derivatives | $ 35,165 | $ (53,024) |
| X | ||||||||||
- Definition Derivative Instruments Not Designated Amount Paid (Received) During Period No definition available.
|
| X | ||||||||||
- Definition Derivative Instruments Not Designated As Hedging Instruments, Gian (Loss) On Derivatives Less Cash Settlements No definition available.
|
| X | ||||||||||
- Definition Amount of gain (loss) from the increase (decrease) in fair value of derivative and nonderivative instruments designated as fair value hedging instruments recognized in the income statement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
LEASES (Narrative) (Details) $ in Thousands |
1 Months Ended | 12 Months Ended | |
|---|---|---|---|
|
Sep. 30, 2021
USD ($)
|
Dec. 31, 2022
USD ($)
rig
|
Dec. 31, 2021
USD ($)
|
|
| Leases [Abstract] | |||
| Lease liabilities recognized in exchange for new operating lease right of use assets | $ 8,400 | $ 909 | $ 11,155 |
| Number of compressors under capital lease agreement | rig | 20 | ||
| Finance lease fair market value percentage for purchase | 10.00% | ||
| Finance lease term | 7 years | ||
| Discount rate finance leases | 4.00% | ||
| Lessee, finance lease, purchase of leased assets | $ 3,000 | ||
| X | ||||||||||
- Definition Capital lease percentage of fair market value to purchase assets at end of term No definition available.
|
| X | ||||||||||
- Definition Capital lease term No definition available.
|
| X | ||||||||||
- Definition Discount rate capital leases No definition available.
|
| X | ||||||||||
- Definition Lessee, Finance Lease, Purchase of Leased Assets No definition available.
|
| X | ||||||||||
- Definition Number of compressors under capital lease agreement No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of increase in right-of-use asset obtained in exchange for operating lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
LEASES (Operating leases) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Ending December 31, | ||
| 2021 | $ 1,999 | |
| 2022 | 2,004 | |
| 2023 | 2,044 | |
| 2024 | 1,472 | |
| 2025 | 0 | |
| 2026 and beyond | 0 | |
| Total future payments | 7,519 | |
| Less: Interest | 879 | |
| Present value of future minimum operating lease payments | 6,640 | |
| Less: Current portion | (1,605) | $ (3,791) |
| Long-term operating lease payments | $ 5,035 | $ 8,677 |
| Weighted average remaining lease term (years) | 3 years 8 months 12 days | |
| Weighted average discount rate | 6.70% |
| X | ||||||||||
- Definition Operating leases, Future Minimum Payments, Interest Included in Payments No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease due after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average discount rate for operating lease calculated at point in time. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
LEASES (Schedule of lease assets and liabilities) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Leases [Abstract] | ||
| Right of use asset | $ 6,551 | $ 12,445 |
| Right-of-use asset | 6,551 | 12,445 |
| Operating Lease, Liability, Current | 1,605 | 3,791 |
| Operating lease liability (Note 18) | 5,035 | 8,677 |
| Lease liability | $ 6,640 | $ 12,468 |
| X | ||||||||||
- Definition Lease liability, includes finance and operating leases No definition available.
|
| X | ||||||||||
- Definition Right-of-use asset, includes finance and operating leases No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
LEASES (Schedule of lease costs) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Leases [Abstract] | ||
| Finance Lease, Right-of-Use Asset, Amortization | $ 0 | $ 1,248 |
| Finance Lease, Interest Expense | 0 | 33 |
| Operating Lease, Cost | 3,278 | 4,546 |
| Short-term lease cost | 10,650 | 12,898 |
| Lease, Cost | 13,928 | 18,725 |
| Capitalized costs included in short-term lease costs | $ 1,800 | $ 1,500 |
| X | ||||||||||
- Definition Capitalized costs included in short-term lease costs No definition available.
|
| X | ||||||||||
- Definition Amount of interest expense on finance lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of amortization expense attributable to right-of-use asset from finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lease cost recognized by lessee for lease contract. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of single lease cost, calculated by allocation of remaining cost of lease over remaining lease term. Includes, but is not limited to, single lease cost, after impairment of right-of-use asset, calculated by amortization of remaining right-of-use asset and accretion of lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of short-term lease cost, excluding expense for lease with term of one month or less. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
LEASES (Supplemental cash flow information related to leases) (Details) - USD ($) $ in Thousands |
1 Months Ended | 12 Months Ended | |
|---|---|---|---|
Sep. 30, 2021 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Leases [Abstract] | |||
| Cash payments made on operating leases | $ 3,210 | $ 4,605 | |
| Cash payments made on finance leases | 0 | 3,216 | |
| Lease liabilities recognized in exchange for new operating lease right of use assets | $ 8,400 | $ 909 | $ 11,155 |
| X | ||||||||||
- Definition Amount of cash outflow for principal payment on finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of increase in right-of-use asset obtained in exchange for operating lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
LEASES (Schedule of weighted average discount rate for leases) (Details) |
Dec. 31, 2022 |
|---|---|
| Leases [Abstract] | |
| Weighted average remaining lease term (years) | 3 years 8 months 12 days |
| Weighted average discount rate | 6.70% |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Weighted average discount rate for operating lease calculated at point in time. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
FAIR VALUE MEASUREMENTS (Recurring Fair Value Measurements) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2022 |
|
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Derivative Liability Statement Of Financial Position Extensible Enumeration Not Disclosed Flag | Commodity derivative liabilities | |
| Fair Value | $ 23,566 | |
| Level 1 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 0 | |
| Financial assets (liabilities) | $ 0 | |
| Level 2 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 23,566 | |
| Financial assets (liabilities) | 58,731 | |
| Level 3 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 0 | |
| Financial assets (liabilities) | 19,822 | |
| Commodity Contract | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Derivative Liability | (58,731) | 23,566 |
| Financial assets (liabilities) | 78,553 | |
| Commodity Contract | Level 1 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 0 | 0 |
| Commodity Contract | Level 2 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 58,731 | (23,566) |
| Commodity Contract | Level 3 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 0 | 0 |
| Warrant | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Derivative Liability | 19,822 | 0 |
| Warrant | Level 1 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 0 | 0 |
| Warrant | Level 2 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 0 | 0 |
| Warrant | Level 3 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | $ (19,822) | $ 0 |
| X | ||||||||||
- Definition Derivative Liability Statement Of Financial Position Extensible Enumeration Not Disclosed Flag No definition available.
|
| X | ||||||||||
- Definition Fair values as of the balance sheet date of the net amount of all assets and liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Fair value, after offset of derivative asset, of financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, elected not to be and before offset against a right to receive collateral under a master netting arrangement. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Fair value of asset after deduction of liability. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
FAIR VALUE MEASUREMENTS (Reconciliations Of Level 3 Fair Value Measurements) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Fair Value Disclosures [Abstract] | ||
| Beginning of period | $ 19,822 | $ 885 |
| Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Income Extensible List Not Disclosed Flag | Loss on change in warrant liability | Loss on change in warrant liability |
| Gain/(loss) on unsettled three-way collars | $ 29,323 | $ 18,937 |
| Reclassification of warrant liability to capital in excess of par value | (49,145) | 0 |
| End of period | $ 0 | $ 19,822 |
| X | ||||||||||
- Definition Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Income Extensible List Not Disclosed Flag No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of gain (loss) recognized in income from asset measured at fair value on recurring basis using unobservable input (level 3). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of purchases, (sales), issuances and (settlements) of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Fair value of financial instrument classified as derivative asset (liability) after deduction of derivative liability (asset), measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
FAIR VALUE MEASUREMENTS (Narrative) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | ||
| Collateral Already Posted, Aggregate Fair Value | $ 0 | |
| Transfers between Level 2 and Level 3 assets (liabilities) | 0 | |
| Warrant liability | $ 0 | $ 19,822 |
| X | ||||||||||
- Definition Transfers between Level 2 and Level 3 assets (liabilities) No definition available.
|
| X | ||||||||||
- Definition Warrant liability No definition available.
|
| X | ||||||||||
- Definition The aggregate fair value of assets that are already posted, at the end of the reporting period, as collateral for derivative instruments with credit-risk-related contingent features. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
SUPERIOR INVESTMENT - Narrative (Details) - USD ($) |
1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 21, 2023 |
Oct. 31, 2022 |
Jul. 29, 2022 |
Apr. 29, 2022 |
Jan. 31, 2022 |
Oct. 29, 2021 |
Jul. 30, 2021 |
Apr. 30, 2021 |
Jan. 31, 2023 |
Apr. 30, 2022 |
Mar. 31, 2022 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Mar. 01, 2022 |
Apr. 03, 2018 |
|
| Variable Interest Entity [Line Items] | |||||||||||||||
| Variable interest entity, liquidation distributions | $ 335,200,000 | ||||||||||||||
| Equity method investments | 1,658,000 | $ 0 | |||||||||||||
| Gain (Loss) on Disposition of Business | $ 13,100,000 | 13,141,000 | 0 | ||||||||||||
| Investment owned, at fair value | 1,700,000 | ||||||||||||||
| Revenues | 545,525,000 | 638,716,000 | |||||||||||||
| Operating costs | 261,125,000 | 375,581,000 | |||||||||||||
| Oil and Gas | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Revenues | 315,482,000 | 224,232,000 | |||||||||||||
| Operating costs | 93,350,000 | 79,924,000 | |||||||||||||
| Gas gathering and processing | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Revenues | 82,673,000 | 338,377,000 | |||||||||||||
| Operating costs | 62,388,000 | 234,684,000 | |||||||||||||
| Oil and Natural Gas | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Gain (Loss) on Disposition of Business | 0 | ||||||||||||||
| Revenues | 326,238,000 | 272,231,000 | |||||||||||||
| Operating costs | 93,859,000 | 83,221,000 | |||||||||||||
| Oil and Natural Gas | Gas gathering and processing | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Revenues | 0 | 0 | |||||||||||||
| Operating costs | 0 | 0 | |||||||||||||
| Capital Addition Purchase Commitments | Oil and Natural Gas | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Long-term purchase commitment, purchases made | 24,600,000 | ||||||||||||||
| Drilling commitment adjustment amount | $ 72,700,000 | ||||||||||||||
| SP Investor | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Variable interest entity, distributions paid | $ 16,200,000 | $ 13,900,000 | $ 10,500,000 | $ 9,500,000 | $ 7,000,000.0 | $ 3,800,000 | $ 12,300,000 | ||||||||
| SP Investor | Subsequent Event | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Variable interest entity, distributions paid | $ 11,100,000 | ||||||||||||||
| Superior Pipeline Company, L.L.C. | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Variable Interest Entity, Date Involvement Began | Apr. 03, 2018 | ||||||||||||||
| Lack of Recourse | Superior's creditors have no recourse to our general credit. | ||||||||||||||
| Commitment spending amount | $ 150,000,000 | ||||||||||||||
| Variable interest investment | $ 300,000,000 | ||||||||||||||
| Liquidation IRR hurdle | 7.00% | ||||||||||||||
| Methodology for determining whetherentity is primary beneficiary | From April 3, 2018 to March 1, 2022, we treated Superior as a variable interest entity (VIE) because the equity holders as a group (Unit Corporation and SP Investor) lacked the power to control without the Operator. The Agreement and MSA gave us the power to direct the activities that most significantly affect Superior's operating performance through common control of the Operator. Accordingly, Unit was considered the primary beneficiary and consolidated the financial position, operating results, and cash flows of Superior. | ||||||||||||||
| Equity method investments, fair value disclosure | $ 14,800,000 | ||||||||||||||
| Long-term purchase commitment, distributions received | $ 32,600,000 | ||||||||||||||
| Equity method investments | $ 1,700,000 | ||||||||||||||
| Superior Pipeline Company, L.L.C. | Oil and Gas | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Revenues | $ 67,100,000 | 48,000,000 | |||||||||||||
| Superior Pipeline Company, L.L.C. | Gas gathering and processing | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Operating costs | 2,700,000 | $ 3,300,000 | |||||||||||||
| Superior Pipeline Company, L.L.C. | Subsequent Event | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Drilling commitment adjustment amount | $ 20,900,000 | ||||||||||||||
| Superior Pipeline Company, L.L.C. | SPC Midstream Operating, L.L.C. | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Monthly service fee | $ 300,000 | ||||||||||||||
| Superior Pipeline Company, L.L.C. | SP Investor | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Ownership percentage | 50.00% | ||||||||||||||
| SP Investor | Subsequent Event | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Potential consideration from sale | $ 20,000,000 | ||||||||||||||
| Proceeds from sale at close | 12,000,000 | ||||||||||||||
| Deferred proceeds | $ 8,000,000 | ||||||||||||||
| SP Investor | Superior Pipeline Company, L.L.C. | Subsequent Event | |||||||||||||||
| Variable Interest Entity [Line Items] | |||||||||||||||
| Ownership percentage | 50.00% | ||||||||||||||
| X | ||||||||||
- Definition Disposal Group, Including Discontinued Operation, Cash Consideration No definition available.
|
| X | ||||||||||
- Definition Disposal Group, Including Discontinued Operation, Deferred Proceeds No definition available.
|
| X | ||||||||||
- Definition Liquidation IRR Hurdle No definition available.
|
| X | ||||||||||
- Definition Long-Term Purchase Commitment, Commitment Spending Amount No definition available.
|
| X | ||||||||||
- Definition Long-Term Purchase Commitment, Distributions Received No definition available.
|
| X | ||||||||||
- Definition Long-Term Purchase Commitment, Drilling Commitment Adjustment Amount No definition available.
|
| X | ||||||||||
- Definition Long-term purchase commitment, purchases made No definition available.
|
| X | ||||||||||
- Definition Monthly service fee No definition available.
|
| X | ||||||||||
- Definition Variable Interest Entity, Distributions Paid No definition available.
|
| X | ||||||||||
- Definition Variable Interest Entity, Liquidation Distributions No definition available.
|
| X | ||||||||||
- Definition Variable Interest Investment No definition available.
|
| X | ||||||||||
- Definition Amount of consideration received or receivable for the disposal of assets and liabilities, including discontinued operation. No definition available.
|
| X | ||||||||||
- Definition This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Fair value portion of investments accounted under the equity method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Value of the investment at close of period. For schedules of investments that are categorized, the value would be aggregated by category. For investment in and advances to affiliates, if operations of any controlled companies are different in character from those of the company, group such affiliates within divisions and by type of activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
|
| X | ||||||||||
- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The degree to which creditors (or beneficial interest holders) of the Variable Interest Entity (VIE) have recourse against the general credit of the primary beneficiary. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
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SUPERIOR INVESTMENT - Distributions Paid (Details) - USD ($) $ in Millions |
Oct. 31, 2022 |
Jul. 29, 2022 |
Apr. 29, 2022 |
Jan. 31, 2022 |
Oct. 29, 2021 |
Jul. 30, 2021 |
Apr. 30, 2021 |
|---|---|---|---|---|---|---|---|
| SP Investor | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Variable interest entity, distributions paid | $ 16.2 | $ 13.9 | $ 10.5 | $ 9.5 | $ 7.0 | $ 3.8 | $ 12.3 |
| Unit Corporation | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Variable interest entity, distributions paid | $ 9.5 | $ 7.0 | $ 3.8 | $ 12.3 |
| X | ||||||||||
- Definition Variable Interest Entity, Distributions Paid No definition available.
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SUPERIOR INVESTMENT (Schedule of Assets and Liabilities) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
||
|---|---|---|---|---|
| Current assets: | ||||
| Cash and cash equivalents | $ 213,975 | $ 64,140 | ||
| Accounts receivable | [1] | 57,776 | 87,248 | |
| Prepaid expenses and other | 3,718 | 5,542 | ||
| Total current assets | 275,469 | 156,930 | ||
| Property and Equipment: | ||||
| Gas gathering and processing equipment | 0 | 274,748 | ||
| Transportation equipment | 2,628 | 4,550 | ||
| Property, plant and equipment, gross, total | 271,898 | 579,423 | ||
| Less accumulated depreciation, depletion, amortization, and impairment | 96,605 | 128,880 | ||
| Net property and equipment | 175,293 | 450,543 | ||
| Right of use asset | 6,551 | 12,445 | ||
| Other Assets, Noncurrent | 10,284 | 9,559 | ||
| Total assets | 469,255 | 629,477 | ||
| Current liabilities: | ||||
| Accounts payable | 20,356 | 58,625 | ||
| Accrued liabilities | 18,716 | 22,450 | ||
| Operating Lease, Liability, Current | 1,605 | 3,791 | ||
| Current portion of other long-term liabilities | 3,989 | 5,574 | ||
| Total current liabilities | 68,232 | 151,138 | ||
| Long-term debt less debt issuance costs | 0 | 19,200 | ||
| Long-term operating lease payments | 5,035 | 8,677 | ||
| Other long-term liabilities | $ 33,362 | 32,939 | ||
| VIE | ||||
| Current assets: | ||||
| Cash and cash equivalents | 17,246 | |||
| Accounts receivable | 42,628 | |||
| Prepaid expenses and other | 1,263 | |||
| Total current assets | 61,137 | |||
| Property and Equipment: | ||||
| Gas gathering and processing equipment | 274,748 | |||
| Transportation equipment | 2,801 | |||
| Property, plant and equipment, gross, total | 277,549 | |||
| Less accumulated depreciation, depletion, amortization, and impairment | 53,792 | |||
| Net property and equipment | 223,757 | |||
| Right of use asset | 3,485 | |||
| Other Assets, Noncurrent | 2,226 | |||
| Total assets | 290,605 | |||
| Current liabilities: | ||||
| Accounts payable | 34,010 | |||
| Accrued liabilities | 5,292 | |||
| Operating Lease, Liability, Current | 1,450 | |||
| Current portion of other long-term liabilities | 1,548 | |||
| Total current liabilities | 42,300 | |||
| Long-term debt less debt issuance costs | 19,200 | |||
| Long-term operating lease payments | 2,036 | |||
| Total liabilities | $ 63,536 | |||
| ||||
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- Definition Natural gas gathering systems and treating plants. No definition available.
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- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt classified as noncurrent. Excludes lease obligation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before accumulated depreciation of tangible personal property used to produce goods and services, including, but is not limited to, tools, dies and molds, computer and office equipment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands |
1 Months Ended | 12 Months Ended | |
|---|---|---|---|
Jan. 31, 2019 |
Feb. 28, 2021 |
Dec. 31, 2022 |
|
| Other Commitments [Line Items] | |||
| Litigation Settlement, Amount Awarded to Other Party | $ 2,400 | $ 2,100 | |
| Oil and Natural Gas | Capital Addition Purchase Commitments | |||
| Other Commitments [Line Items] | |||
| Long-term purchase commitment, purchases made | $ 24,600 |
| X | ||||||||||
- Definition Long-term purchase commitment, purchases made No definition available.
|
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- Definition Amount awarded to other party in judgment or settlement of litigation. No definition available.
|
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CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS (Details) - Revenue Benchmark - Customer Concentration Risk |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| CVR Energy, Inc. | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 10.00% | 11.00% |
| Diamondback E&P, LLC | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 19.00% | 15.00% |
| Coterra Energy, Inc. | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 15.00% | |
| Citizen Energy III, LLC | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 14.00% | 20.00% |
| Earthstone Operating, LLC | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 12.00% | 11.00% |
| EOG Resources, Inc. | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 11.00% | 21.00% |
| Slawson Exploration Company, Inc. | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 12.00% | |
| ONEOK, Inc. | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 36.00% | 37.00% |
| Southwest Energy, LP | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 15.00% | |
| Symmetry Energy Solutions LLC | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 14.00% | |
| Range Resources Corporation | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 11.00% | |
| Koch Energy Services | ||
| Concentration Risk [Line Items] | ||
| Segment's revenues | 10.00% | |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
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- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS - Narrative (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
| Concentration Risk [Line Items] | ||
| Fair Value | $ 23,566 | |
| Bank of Oklahoma | ||
| Concentration Risk [Line Items] | ||
| Total net assets | 23,600 | |
| Cash | ||
| Concentration Risk [Line Items] | ||
| Concentration of cash | 2,800 | $ 36,600 |
| US Treasury Securities | ||
| Concentration Risk [Line Items] | ||
| Concentration of cash | 76,000 | |
| US Government Corporations and Agencies Securities | ||
| Concentration Risk [Line Items] | ||
| Concentration of cash | $ 134,700 | |
| Money Market Funds | ||
| Concentration Risk [Line Items] | ||
| Concentration of cash | $ 27,000 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Fair values as of the balance sheet date of the net amount of all assets and liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition This item represents disclosure of all significant concentrations of credit risk or market risk arising from the subject financial instrument (as defined), whether from an individual counterparty or groups of counterparties. No definition available.
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INDUSTRY SEGMENT INFORMATION (Revenue From Different Segments) (Details) - USD ($) $ in Thousands |
3 Months Ended | 8 Months Ended | 12 Months Ended | |
|---|---|---|---|---|
Mar. 31, 2022 |
Aug. 31, 2020 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Revenues: | ||||
| Revenues | $ 545,525 | $ 638,716 | ||
| Operating costs: | ||||
| Operating costs | 261,125 | 375,581 | ||
| Depreciation, depletion, and amortization | 24,143 | 64,326 | ||
| Impairments (Note 3) | 0 | 10,673 | ||
| General and administrative | 24,644 | 24,915 | ||
| (Gain) loss on disposition of assets | (8,367) | (10,877) | ||
| Total operating expenses | 301,545 | 464,618 | ||
| Income (loss) from operations | 243,980 | 174,098 | ||
| Interest income | 2,642 | 2 | ||
| Loss on derivatives | (63,610) | (97,615) | ||
| Loss on change in fair value of warrants (Note 17) | (29,323) | (18,937) | ||
| Reorganization items, net | 127 | 4,294 | ||
| Interest expense, net | 447 | 4,266 | ||
| Other | 2,900 | (599) | ||
| Total other income (expense) | (101,106) | (125,709) | ||
| Income before income taxes | 142,874 | 48,389 | ||
| Identifiable assets: | ||||
| Oil and natural gas | 145,563 | 198,879 | ||
| Contract drilling | 94,559 | 78,476 | ||
| Gas gathering and processing | 290,336 | |||
| Total identifiable assets | 240,122 | 567,691 | ||
| Other corporate assets | 229,133 | 61,786 | ||
| Total assets | 469,255 | 629,477 | ||
| Capital expenditures: | ||||
| Total capital expenditures | 33,596 | 45,285 | ||
| Gain (loss) on disposition of business | $ (13,100) | (13,141) | 0 | |
| Mid-Stream | ||||
| Capital expenditures: | ||||
| Impairment of Long-Lived Assets Held-for-use | 10,700 | |||
| Oil and Natural Gas | ||||
| Revenues: | ||||
| Revenues | 315,482 | 224,232 | ||
| Operating costs: | ||||
| Operating costs | 93,350 | 79,924 | ||
| Contract drilling | ||||
| Revenues: | ||||
| Revenues | 147,370 | 76,107 | ||
| Operating costs: | ||||
| Operating costs | 105,387 | 60,973 | ||
| Gas gathering and processing | ||||
| Revenues: | ||||
| Revenues | 82,673 | 338,377 | ||
| Operating costs: | ||||
| Operating costs | 62,388 | 234,684 | ||
| Gas gathering and processing | Superior Pipeline Company, L.L.C. | ||||
| Operating costs: | ||||
| Operating costs | 2,700 | 3,300 | ||
| Intersubsegment Eliminations | ||||
| Revenues: | ||||
| Revenues | (11,651) | (51,296) | ||
| Operating costs: | ||||
| Operating costs | (12,113) | (54,812) | ||
| Depreciation, depletion, and amortization | 0 | 0 | ||
| Impairments (Note 3) | 0 | 0 | ||
| General and administrative | 611 | 3,516 | ||
| (Gain) loss on disposition of assets | 0 | 0 | ||
| Total operating expenses | (11,502) | (51,296) | ||
| Income (loss) from operations | (149) | 0 | ||
| Interest income | 0 | 0 | ||
| Loss on derivatives | 0 | 0 | ||
| Loss on change in fair value of warrants (Note 17) | 0 | 0 | ||
| Reorganization items, net | 0 | 0 | ||
| Interest expense, net | 0 | 0 | ||
| Other | 0 | 0 | ||
| Total other income (expense) | 0 | 0 | ||
| Income before income taxes | (149) | 0 | ||
| Identifiable assets: | ||||
| Oil and natural gas | (148) | (4,917) | ||
| Contract drilling | 0 | (78) | ||
| Gas gathering and processing | (269) | |||
| Total identifiable assets | (148) | (5,264) | ||
| Other corporate assets | 0 | (4,441) | ||
| Total assets | (148) | (9,705) | ||
| Capital expenditures: | ||||
| Total capital expenditures | (148) | 0 | ||
| Gain (loss) on disposition of business | 0 | |||
| Intersubsegment Eliminations | Superior Pipeline Company, L.L.C. | ||||
| Revenues: | ||||
| Revenues | 528,800 | |||
| Operating costs: | ||||
| Operating costs | 452,100 | |||
| Intersubsegment Eliminations | Oil and Natural Gas | ||||
| Revenues: | ||||
| Revenues | (10,756) | (47,999) | ||
| Operating costs: | ||||
| Operating costs | (509) | (3,297) | ||
| Intersubsegment Eliminations | Contract drilling | ||||
| Revenues: | ||||
| Revenues | (370) | 0 | ||
| Operating costs: | ||||
| Operating costs | (221) | 0 | ||
| Intersubsegment Eliminations | Gas gathering and processing | ||||
| Revenues: | ||||
| Revenues | (525) | (3,297) | ||
| Operating costs: | ||||
| Operating costs | (11,383) | (51,515) | ||
| Oil and Natural Gas | ||||
| Revenues: | ||||
| Revenues | 326,238 | 272,231 | ||
| Operating costs: | ||||
| Operating costs | 93,859 | 83,221 | ||
| Depreciation, depletion, and amortization | 11,780 | 24,612 | ||
| Impairments (Note 3) | 0 | 0 | ||
| General and administrative | 0 | 0 | ||
| (Gain) loss on disposition of assets | 0 | 171 | ||
| Total operating expenses | 105,639 | 108,004 | ||
| Income (loss) from operations | 220,599 | 164,227 | ||
| Interest income | 0 | 0 | ||
| Loss on derivatives | 0 | 0 | ||
| Loss on change in fair value of warrants (Note 17) | 0 | 0 | ||
| Reorganization items, net | 0 | |||
| Interest expense, net | 0 | 0 | ||
| Other | 1,520 | 187 | ||
| Total other income (expense) | 1,520 | 187 | ||
| Income before income taxes | 222,119 | 164,414 | ||
| Identifiable assets: | ||||
| Oil and natural gas | 145,711 | 203,796 | ||
| Contract drilling | 0 | 0 | ||
| Gas gathering and processing | 0 | |||
| Total identifiable assets | 145,711 | 203,796 | ||
| Other corporate assets | 0 | 0 | ||
| Total assets | 145,711 | 203,796 | ||
| Capital expenditures: | ||||
| Total capital expenditures | 21,037 | 17,752 | ||
| Gain (loss) on disposition of business | 0 | |||
| Oil and Natural Gas | Oil and Natural Gas | ||||
| Revenues: | ||||
| Revenues | 326,238 | 272,231 | ||
| Operating costs: | ||||
| Operating costs | 93,859 | 83,221 | ||
| Oil and Natural Gas | Contract drilling | ||||
| Revenues: | ||||
| Revenues | 0 | 0 | ||
| Operating costs: | ||||
| Operating costs | 0 | 0 | ||
| Oil and Natural Gas | Gas gathering and processing | ||||
| Revenues: | ||||
| Revenues | 0 | 0 | ||
| Operating costs: | ||||
| Operating costs | 0 | 0 | ||
| Drilling | ||||
| Revenues: | ||||
| Revenues | 147,740 | 76,107 | ||
| Operating costs: | ||||
| Operating costs | 105,608 | 60,973 | ||
| Depreciation, depletion, and amortization | 6,416 | 6,308 | ||
| Impairments (Note 3) | 0 | 0 | ||
| General and administrative | 0 | 0 | ||
| (Gain) loss on disposition of assets | $ (10,100) | (8,404) | (10,143) | |
| Total operating expenses | 103,620 | 57,138 | ||
| Income (loss) from operations | 44,120 | 18,969 | ||
| Interest income | 0 | 0 | ||
| Loss on derivatives | 0 | 0 | ||
| Loss on change in fair value of warrants (Note 17) | 0 | 0 | ||
| Reorganization items, net | 0 | 0 | ||
| Interest expense, net | 0 | 0 | ||
| Other | 53 | 57 | ||
| Total other income (expense) | 53 | 57 | ||
| Income before income taxes | 44,173 | 19,026 | ||
| Identifiable assets: | ||||
| Oil and natural gas | 0 | 0 | ||
| Contract drilling | 94,559 | 78,554 | ||
| Gas gathering and processing | 0 | |||
| Total identifiable assets | 94,559 | 78,554 | ||
| Other corporate assets | 0 | 0 | ||
| Total assets | 94,559 | 78,554 | ||
| Capital expenditures: | ||||
| Total capital expenditures | 11,134 | 2,877 | ||
| Gain (loss) on disposition of business | 0 | |||
| Drilling | Oil and Natural Gas | ||||
| Revenues: | ||||
| Revenues | 0 | 0 | ||
| Operating costs: | ||||
| Operating costs | 0 | 0 | ||
| Drilling | Contract drilling | ||||
| Revenues: | ||||
| Revenues | 147,740 | 76,107 | ||
| Operating costs: | ||||
| Operating costs | 105,608 | 60,973 | ||
| Drilling | Gas gathering and processing | ||||
| Revenues: | ||||
| Revenues | 0 | 0 | ||
| Operating costs: | ||||
| Operating costs | 0 | 0 | ||
| Mid-Stream | ||||
| Revenues: | ||||
| Revenues | 83,198 | 341,674 | ||
| Operating costs: | ||||
| Operating costs | 73,771 | 286,199 | ||
| Depreciation, depletion, and amortization | 5,614 | 32,566 | ||
| Impairments (Note 3) | 0 | 10,673 | ||
| General and administrative | 0 | 0 | ||
| (Gain) loss on disposition of assets | 0 | 49 | ||
| Total operating expenses | 79,385 | 329,487 | ||
| Income (loss) from operations | 3,813 | 12,187 | ||
| Interest income | 0 | 0 | ||
| Loss on derivatives | 0 | 0 | ||
| Loss on change in fair value of warrants (Note 17) | 0 | 0 | ||
| Reorganization items, net | 0 | 0 | ||
| Interest expense, net | 179 | 924 | ||
| Other | 17 | (844) | ||
| Total other income (expense) | (162) | (1,768) | ||
| Income before income taxes | 3,651 | 10,419 | ||
| Identifiable assets: | ||||
| Oil and natural gas | 0 | 0 | ||
| Contract drilling | 0 | 0 | ||
| Gas gathering and processing | 290,605 | |||
| Total identifiable assets | 0 | 290,605 | ||
| Other corporate assets | 1,658 | 0 | ||
| Total assets | 1,658 | 290,605 | ||
| Capital expenditures: | ||||
| Total capital expenditures | 1,167 | 24,316 | ||
| Gain (loss) on disposition of business | 0 | |||
| Mid-Stream | Oil and Natural Gas | ||||
| Revenues: | ||||
| Revenues | 0 | 0 | ||
| Operating costs: | ||||
| Operating costs | 0 | 0 | ||
| Mid-Stream | Contract drilling | ||||
| Revenues: | ||||
| Revenues | 0 | 0 | ||
| Operating costs: | ||||
| Operating costs | 0 | 0 | ||
| Mid-Stream | Gas gathering and processing | ||||
| Revenues: | ||||
| Revenues | 83,198 | 341,674 | ||
| Operating costs: | ||||
| Operating costs | 73,771 | 286,199 | ||
| Corporate and Other | ||||
| Revenues: | ||||
| Revenues | 0 | 0 | ||
| Operating costs: | ||||
| Operating costs | 0 | 0 | ||
| Depreciation, depletion, and amortization | 333 | 840 | ||
| Impairments (Note 3) | 0 | 0 | ||
| General and administrative | 24,033 | 21,399 | ||
| (Gain) loss on disposition of assets | 37 | (954) | ||
| Total operating expenses | 24,403 | 21,285 | ||
| Income (loss) from operations | (24,403) | (21,285) | ||
| Interest income | 2,642 | 2 | ||
| Loss on derivatives | (63,610) | (97,615) | ||
| Loss on change in fair value of warrants (Note 17) | (29,323) | (18,937) | ||
| Reorganization items, net | 127 | 4,294 | ||
| Interest expense, net | 268 | 3,342 | ||
| Other | 1,310 | 1 | ||
| Total other income (expense) | (102,517) | (124,185) | ||
| Income before income taxes | (126,920) | (145,470) | ||
| Identifiable assets: | ||||
| Oil and natural gas | 0 | 0 | ||
| Contract drilling | 0 | 0 | ||
| Gas gathering and processing | 0 | |||
| Total identifiable assets | 0 | 0 | ||
| Other corporate assets | 227,475 | 66,227 | ||
| Total assets | 227,475 | 66,227 | ||
| Capital expenditures: | ||||
| Total capital expenditures | 406 | 340 | ||
| Gain (loss) on disposition of business | (13,141) | |||
| Corporate and Other | Oil and Natural Gas | ||||
| Revenues: | ||||
| Revenues | 0 | 0 | ||
| Operating costs: | ||||
| Operating costs | 0 | 0 | ||
| Corporate and Other | Contract drilling | ||||
| Revenues: | ||||
| Revenues | 0 | 0 | ||
| Operating costs: | ||||
| Operating costs | 0 | 0 | ||
| Corporate and Other | Gas gathering and processing | ||||
| Revenues: | ||||
| Revenues | 0 | 0 | ||
| Operating costs: | ||||
| Operating costs | $ 0 | $ 0 | ||
| X | ||||||||||
- Definition Capital expenditures [Abstract] No definition available.
|
| X | ||||||||||
- Definition Contract Drilling Identifiable Assets No definition available.
|
| X | ||||||||||
- Definition Corporate assets No definition available.
|
| X | ||||||||||
- Definition Gas gathering and processing identifiable assets. No definition available.
|
| X | ||||||||||
- Definition Oil and natural gas identifiable assets No definition available.
|
| X | ||||||||||
- Definition Oil and natural gas [Abstract] No definition available.
|
| X | ||||||||||
- Definition Total capital expenditures No definition available.
|
| X | ||||||||||
- Definition Total identifiable assets No definition available.
|
| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of interest income earned from interest bearing assets classified as other. No definition available.
|
| X | ||||||||||
- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
|
| X | ||||||||||
- Definition The charge against earnings resulting from the write down of long lived assets other than goodwill due to the difference between the carrying value and lower fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total amount of reorganization items. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Schedule II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||
| Balance at beginning of period | $ 2,511 | $ 3,783 |
| Additions charged to costs and expenses | 333 | 1,640 |
| Deductions and net write-offs | (156) | (2,912) |
| Balance at end of period | $ 2,688 | $ 2,511 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of valuation and qualifying accounts and reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of increase in valuation and qualifying accounts and reserves from charge to cost and expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of decrease in valuation and qualifying accounts and reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
SUPPLEMENTAL OIL AND GAS DISCLOSURES (Schedule Of Capitalized Costs And Costs Incurred On Oil And Gas Properties) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Capitalized costs: | ||
| Proved properties | $ 177,134 | $ 225,014 |
| Unproved properties not being amortized | 6,953 | 422 |
| Capitalized costs gross | 184,087 | 225,436 |
| Accumulated depreciation, depletion, amortization, and impairment | (76,077) | (64,966) |
| Net capitalized costs | 108,010 | 160,470 |
| Costs incurred: | ||
| Unproved properties acquired | 3,963 | 522 |
| Proved properties acquired | 0 | 0 |
| Exploration | 0 | 0 |
| Development | 16,070 | 16,279 |
| Asset retirement obligation | 3,018 | 478 |
| Total costs incurred | $ 23,051 | $ 17,279 |
| X | ||||||||||
- Definition Capitalized Costs, Proved Properties, Gross No definition available.
|
| X | ||||||||||
- Definition Costs incurred in asset retirement obligation. No definition available.
|
| X | ||||||||||
- Definition Amount of accumulated depreciation, depletion, amortization and valuation allowance relating to oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The sum of the capitalized costs incurred, as of the balance sheet date, of unproved properties excluded from amortization including acquisition costs, exploration costs, development costs, and production costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The sum of capitalized costs relating to oil and gas producing activities before accounting for accumulated depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Net amount of capitalized costs relating to oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Costs incurred, including capitalized costs and costs charged to expense, associated with the acquisition of oil and gas properties that have proved reserves. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Costs incurred, including capitalized costs and costs charged to expense, associated with the acquisition of oil and gas properties that have unproved reserves. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Development costs incurred, including capitalized costs and costs charged to expense, in oil and gas activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Exploration costs incurred, including capitalized costs and costs charged to expense, in oil and gas activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of costs incurred related to oil and gas property acquisition, exploration and development activities, including capitalized costs and costs charged to expense. No definition available.
|
| X | ||||||||||
- References No definition available.
|
SUPPLEMENTAL OIL AND GAS DISCLOSURES (Results Of Operations For Producing Activities) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Supplemental Oil and Gas Disclosures [Abstract] | ||
| Revenues | $ 314,554 | $ 223,681 |
| Production costs | (73,736) | (62,443) |
| Depreciation, depletion, amortization, and impairment | (11,192) | (24,261) |
| Results of operations, income before income taxes | 229,626 | 136,977 |
| Income tax (expense) benefit | 45 | 168 |
| Results of operations for producing activities (excluding corporate overhead and financing costs) | $ 229,671 | $ 137,145 |
| X | ||||||||||
- Definition Supplemental Oil and Gas Disclosures [Abstract] No definition available.
|
| X | ||||||||||
- Definition Depreciation, depletion and amortization, and valuation provisions (impairments) related to oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Income before income taxes for oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Income tax expense for oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The results of operations for oil and gas producing activities, excluding corporate overhead and interest costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Production (lifting) costs from oil and gas producing activities, including but not limited to lease operating expense, production and ad valorem taxes, and transportation expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total revenues from oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
SUPPLEMENTAL OIL AND GAS DISCLOSURES (Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities) (Details) bbl in Thousands, Mcf in Thousands, MBoe in Thousands |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2022
MBoe
bbl
Mcf
|
Dec. 31, 2021
MBoe
bbl
Mcf
|
|
| Proved developed and undeveloped reserves: | ||
| Beginning of year (MBoe) | MBoe | 67,318 | 47,541 |
| Revision of previous estimate (MBoe) | MBoe | 6,840 | 28,685 |
| Extension and discovery (MBoe) | MBoe | 747 | 471 |
| Infill reserves in existing proved fields (MBoe) | MBoe | 368 | 1,366 |
| Purchase of mineral in place (MBoe) | MBoe | 0 | 1 |
| Production (MBoe) | MBoe | (7,464) | (9,074) |
| Sales (MBoe) | MBoe | (4,593) | (1,672) |
| End of year (MBoe) | MBoe | 63,215 | 67,318 |
| Proved developed reserves: | ||
| Beginning of year (MBoe) | MBoe | 67,318 | |
| End of year (MBoe) | MBoe | 63,215 | 67,318 |
| Proved undeveloped reserves | ||
| Beginning of year (MBoe) | MBoe | 0 | |
| End of year (MBoe) | MBoe | 0 | 0 |
| Oil (bbls) | ||
| Proved developed and undeveloped reserves: | ||
| Beginning of year | 9,019 | 8,267 |
| Revision of previous estimates | 73 | 2,651 |
| Extensions and discoveries | 189 | 218 |
| Infill reserves in existing proved fields | 54 | 713 |
| Purchases of minerals in place | 0 | 0 |
| Production | (1,281) | (1,615) |
| Sales | (373) | (1,215) |
| End of year | 7,681 | 9,019 |
| Proved developed reserves: | ||
| Beginning of year | 9,019 | |
| End of year | 7,681 | 9,019 |
| Proved undeveloped reserves | ||
| Beginning of year | 0 | |
| End of year | 0 | 0 |
| Natural Gas Liquids (bbls) | ||
| Proved developed and undeveloped reserves: | ||
| Beginning of year | 21,525 | 15,208 |
| Revision of previous estimates | 1,884 | 8,723 |
| Extensions and discoveries | 133 | 93 |
| Infill reserves in existing proved fields | 18 | 293 |
| Purchases of minerals in place | 0 | 0 |
| Production | (2,148) | (2,624) |
| Sales | (1,280) | (169) |
| End of year | 20,132 | 21,525 |
| Proved developed reserves: | ||
| Beginning of year | 21,525 | |
| End of year | 20,132 | 21,525 |
| Proved undeveloped reserves | ||
| Beginning of year | 0 | |
| End of year | 0 | 0 |
| Natural gas (Mcf) | ||
| Proved developed and undeveloped reserves: | ||
| Beginning of year | Mcf | 220,640 | 144,391 |
| Revision of previous estimates | Mcf | 29,295 | 103,866 |
| Extensions and discoveries | Mcf | 2,551 | 961 |
| Infill reserves in existing proved fields | Mcf | 1,773 | 2,158 |
| Purchases of minerals in place | Mcf | 0 | 0 |
| Production | Mcf | (24,211) | (29,012) |
| Sales | Mcf | (17,639) | (1,725) |
| End of year | Mcf | 212,409 | 220,640 |
| Proved developed reserves: | ||
| Beginning of year | Mcf | 220,640 | |
| End of year | Mcf | 212,409 | 220,640 |
| Proved undeveloped reserves | ||
| Beginning of year | Mcf | 0 | |
| End of year | Mcf | 0 | 0 |
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition Energy measure of increase in quantity of proved reserve of oil and gas resulting from the extension of the proved acreage of previously discovered reservoir or discovery of new field with proved reserve or of new reservoir of proved reserve in old field, stated in a unit of energy. For example, but not limited to, barrel of oil equivalents (BOE) or one thousand cubic feet of natural gas equivalent (Mcfe). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Energy measure of proved reserve of oil and gas, stated in a unit of energy. For example, but not limited to, barrel of oil equivalents (BOE) or one thousand cubic feet of natural gas equivalent (Mcfe). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Energy measure of decrease in quantity of proved reserve of oil and gas resulting from production, stated in a unit of energy. For example, but not limited to, barrel of oil equivalents (BOE) or one thousand cubic feet of natural gas equivalent (Mcfe). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Energy measure of increase in quantity of proved reserve of oil and gas resulting from purchase of mineral in place, stated in a unit of energy. For example, but not limited to, barrel of oil equivalents (BOE) or one thousand cubic feet of natural gas equivalent (Mcfe). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Energy measure of increase (decrease) in quantity of proved reserve of oil and gas related to revision of a previous estimate resulting from new information, except for an increase in proved acreage, or change in economic factors, stated in a unit of energy. For example, but not limited to, barrel of oil equivalents (BOE) or one thousand cubic feet of natural gas equivalent (Mcfe). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Additions to proved reserves that result from (1) extension of the proved acreage of previously discovered (old) reservoirs through additional drilling in periods after discovery and (2) discovery of new fields with proved reserves or of new reservoirs of proved reserves in old fields. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The net quantity of proved reserves as of the balance sheet date. Proved oil reserves are the estimated quantities of crude oil and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Production of proved reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Purchase of minerals in place. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Revisions represent changes in previous estimates of proved reserves, either upward or downward, resulting from new information (except for an increase in proved acreage) normally obtained from development drilling and production history or resulting from change in economic factors. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Energy measure of decrease in quantity of proved reserve of oil and gas resulting from sale of mineral in place, stated in a unit of energy. For example, but not limited to, barrel of oil equivalents (BOE) or one thousand cubic feet of natural gas equivalent (Mcfe). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Sales of minerals in place. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Energy measure of interests in proved developed reserves of crude oil, including condensate and natural gas liquids, natural gas, synthetic oil and gas, or other nonrenewable natural resource that is intended to be upgraded into synthetic oil and gas. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Net quantities of an enterprise's interests in proved developed reserves of either crude oil (including condensate and natural gas liquids), natural gas, synthetic oil and gas, or other nonrenewable natural resource that is intended to be upgraded into synthetic oil and gas as of the beginning and the end of the year. "Net" quantities of reserves include those relating to the enterprise's operating and nonoperating interests in properties. Quantities of reserves relating to royalty interests owned are included in "net" quantities if the necessary information is available to the enterprise. "Net" quantities does not include reserves relating to interests of others in properties owned by the enterprise. The unit of measure for reserve quantities is defined as "barrels" for oil and synthetic oil reserves or "cubic feet" or "cubic meters" for natural gas and synthetic gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Energy measure of proved undeveloped reserves of crude oil, including condensate and natural gas liquids, natural gas, synthetic oil and gas, or other nonrenewable natural resource that is intended to be upgraded into synthetic oil and gas. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Net quantities of an enterprise's interests in proved undeveloped reserves of either crude oil (including condensate and natural gas liquids), natural gas, synthetic oil and gas, or other renewable natural resource that is intended to be upgraded into synthetic oil and gas as of the beginning and the end of the year. "Net" quantities of reserves include those relating to the enterprise's operating and nonoperating interests in properties. Quantities of reserves relating to royalty interests owned are included in "net" quantities if the necessary information is available to the enterprise. "Net" quantities does not include reserves relating to interests of others in properties owned by the enterprise. The unit of measure for reserve quantities is defined as "barrels" for oil and synthetic oil reserves or "cubic feet" or "cubic meters" for natural gas and synthetic gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Proved developed and undeveloped reserves infill reserves in existing proved fields. No definition available.
|
| X | ||||||||||
- Definition Proved Developed And Undeveloped Reserves Infill Reserves In Existing Proved Fields (Energy) No definition available.
|
| X | ||||||||||
- Definition Proved developed reserves [Abstract] No definition available.
|
| X | ||||||||||
- Definition Proved undeveloped reserves [Abstract] No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
SUPPLEMENTAL OIL AND GAS DISCLOSURES (Standardized Measure Of Discounted Future Cash Flows Relating To Proved Reserves Disclosure) (Details) - USD ($) $ in Thousands |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
|---|---|---|---|
| Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Net Cash Flows [Abstract] | |||
| Future cash flows | $ 2,918,116 | $ 1,977,529 | |
| Future production costs | (1,142,754) | (835,430) | |
| Future development costs | (1,724) | 0 | |
| Future income tax expenses | (355,350) | (185,395) | |
| Future net cash flows | 1,418,288 | 956,704 | |
| 10% annual discount for estimated timing of cash flows | (633,263) | (385,560) | |
| Standardized measure of discounted future net cash flows relating to proved oil, NGLs and natural gas reserves | $ 785,025 | $ 571,144 | $ 193,021 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of estimated future accumulated cash inflow from the sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of estimated future accumulated cash outflow for costs to be incurred in developing proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of estimated future accumulated cash outflow for income tax, based on the future income less future expense derived from production and sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after future accumulated cash outflow for development and production costs and future income tax, of estimated future accumulated cash inflow from the sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of estimated future accumulated cash outflow for costs to be incurred in producing proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of discount on future accumulated cash inflow, after deducting future accumulated cash outflow for development and production costs and future income tax, from sale of proved oil and gas reserves, using a discount rate of 10 percent a year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of discounted future accumulated cash inflow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
SUPPLEMENTAL OIL AND GAS DISCLOSURES (Schedule Of Principal Sources Of Changes In Standardized Measure Of Discounted Future Net Cash Flows) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Supplemental Oil and Gas Disclosures [Abstract] | ||
| Sales and transfers of oil and natural gas produced, net of production costs | $ (240,818) | $ (161,238) |
| Net changes in prices and production costs | 377,923 | 334,291 |
| Revisions in quantity estimates and changes in production timing | 109,772 | 320,774 |
| Extensions, discoveries, and improved recovery, less related costs | 34,121 | 45,019 |
| Changes in estimated future development costs | (1,615) | 0 |
| Previously estimated cost incurred during the period | 0 | 0 |
| Purchases of minerals in place | 0 | 0 |
| Sales of minerals in place | (28,704) | (4,161) |
| Accretion of discount | 65,826 | 19,306 |
| Net change in income taxes | (84,421) | (87,078) |
| Other-net | (18,203) | (88,791) |
| Net change | 213,881 | 378,123 |
| Beginning of year | 571,144 | 193,021 |
| End of year | $ 785,025 | $ 571,144 |
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- Definition Amount of decrease in standardized measure of discounted future net cash flow as a result of sales of minerals in place. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of extensions, discoveries and improved recovery of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of change in estimated future development costs. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of change in the estimated future income tax on future pretax net cash flows related to the entity's proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of increase in standardized measure of discounted future net cash flow as a result of purchases of minerals in place. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of change in sales and transfer prices and in production (lifting) costs related to future production. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of increase in standardized measure of discounted future net cash flow as a result of previously estimated development costs incurred. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of revisions of estimated quantity of oil and gas in proved reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of (increase) decrease in standardized measure of discounted future net cash flow as a result of sales and transfers of oil and gas produced. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of changes from other sources. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of accretion of discount for the standardized measure of discounted future net cash flow related to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of discounted future accumulated cash inflow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Supplemental Oil and Gas Disclosures [Abstract] No definition available.
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SUPPLEMENTAL OIL AND GAS DISCLOSURES (Narrative) (Details) |
12 Months Ended |
|---|---|
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Dec. 31, 2022
$ / Unit
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| Oil (bbls) | |
| Oil and Gas, Average Sale Price | 93.67 |
| Natural gas (Mcf) | |
| Oil and Gas, Average Sale Price | 6.36 |
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- Definition Sales price per unit of oil and gas produced. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Details
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- Details
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