2023 Q1 Form 10-K Financial Statement

#000152812923000048 Filed on February 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $332.5M $364.1M $1.921B
YoY Change -37.55% -22.56% 37.78%
Cost Of Revenue $95.79M $92.69M $460.8M
YoY Change -42.8% -33.04% -2.67%
Gross Profit $236.7M $271.4M $1.460B
YoY Change -35.13% -18.19% 58.58%
Gross Profit Margin 71.19% 74.55% 76.01%
Selling, General & Admin $25.93M $17.28M $121.8M
YoY Change 18.16% 26.9% 9.99%
% of Gross Profit 10.95% 6.37% 8.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $86.78M $85.08M $311.6M
YoY Change 18.08% 14.07% 44.71%
% of Gross Profit 36.66% 31.35% 21.35%
Operating Expenses $114.2M $108.0M $121.8M
YoY Change 18.39% 22.25% 9.99%
Operating Profit $122.8M $163.4M $1.060B
YoY Change -54.27% -32.86% 47.18%
Interest Expense $28.55M -$36.60M $125.1M
YoY Change -12.08% 131.76% 10.35%
% of Operating Profit 23.26% -22.39% 11.8%
Other Income/Expense, Net -$7.210M $1.722M -$423.1M
YoY Change -97.98% 200.52% -25.98%
Pretax Income $115.5M $121.3M $637.0M
YoY Change -231.82% -44.7% 328.52%
Income Tax $1.607M $3.055M $5.502M
% Of Pretax Income 1.39% 2.52% 0.86%
Net Earnings $113.9M $118.2M $631.5M
YoY Change -231.3% -45.34% 335.5%
Net Earnings / Revenue 34.27% 32.47% 32.88%
Basic Earnings Per Share $6.93 $37.88
Diluted Earnings Per Share $6.89 $7.13 $37.44
COMMON SHARES
Basic Shares Outstanding 17.15M shares 16.81M shares 16.67M shares
Diluted Shares Outstanding 16.55M shares 16.87M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.68M $44.44M $44.44M
YoY Change -57.5% -21.77% -21.77%
Cash & Equivalents $27.68M $44.44M $44.44M
Short-Term Investments
Other Short-Term Assets $15.80M $13.32M $31.92M
YoY Change -11.05% -41.86% 86.74%
Inventory $6.070M $6.070M
Prepaid Expenses
Receivables $147.1M $163.4M $163.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $229.7M $245.8M $245.8M
YoY Change -24.04% 4.21% 4.21%
LONG-TERM ASSETS
Property, Plant & Equipment $2.512B $2.411B $2.434B
YoY Change 7.01% 7.13% 7.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $36.38M $22.37M $46.74M
YoY Change -14.38% -31.9% -13.94%
Total Long-Term Assets $2.714B $2.480B $2.480B
YoY Change 11.95% 7.1% 7.1%
TOTAL ASSETS
Total Short-Term Assets $229.7M $245.8M $245.8M
Total Long-Term Assets $2.714B $2.480B $2.480B
Total Assets $2.943B $2.726B $2.726B
YoY Change 7.96% 6.83% 6.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $91.69M $102.5M $102.5M
YoY Change 25.21% 43.61% 43.61%
Accrued Expenses $115.7M $63.83M $127.8M
YoY Change 67.57% 9.43% -19.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $391.5M $415.3M $415.3M
YoY Change -49.52% -21.19% -21.19%
LONG-TERM LIABILITIES
Long-Term Debt $1.164B $1.113B $1.113B
YoY Change -18.15% -21.94% -21.94%
Other Long-Term Liabilities $3.953M $7.268M $87.07M
YoY Change -78.15% -55.18% 2.11%
Total Long-Term Liabilities $1.168B $1.120B $1.200B
YoY Change -18.9% -22.31% -20.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $391.5M $415.3M $415.3M
Total Long-Term Liabilities $1.168B $1.120B $1.200B
Total Liabilities $1.718B $1.615B $1.615B
YoY Change -25.39% -20.74% -20.74%
SHAREHOLDERS EQUITY
Retained Earnings -$1.530B -$1.644B
YoY Change -35.24% -27.76%
Common Stock $2.755B $2.754B
YoY Change -1.1% -1.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.225B $1.111B $1.111B
YoY Change
Total Liabilities & Shareholders Equity $2.943B $2.726B $2.726B
YoY Change 7.96% 6.83% 6.83%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $113.9M $118.2M $631.5M
YoY Change -231.3% -45.34% 335.5%
Depreciation, Depletion And Amortization $86.78M $85.08M $311.6M
YoY Change 18.08% 14.07% 44.71%
Cash From Operating Activities $116.1M $108.9M $829.6M
YoY Change -32.04% -48.03% 67.04%
INVESTING ACTIVITIES
Capital Expenditures $167.8M $138.7M $581.1M
YoY Change -215.06% -197.23% -236.05%
Acquisitions
YoY Change
Other Investing Activities $4.210M $106.3M $105.2M
YoY Change -171.95% -177.93% -128.45%
Cash From Investing Activities -$163.6M -$32.48M -$476.0M
YoY Change 7.85% -88.36% -40.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $37.29M
YoY Change -48.56%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $47.05M -81.95M -$366.0M
YoY Change -533.75% -209.4% -218.77%
NET CHANGE
Cash From Operating Activities $116.1M 108.9M $829.6M
Cash From Investing Activities -$163.6M -32.48M -$476.0M
Cash From Financing Activities $47.05M -81.95M -$366.0M
Net Change In Cash -$429.0K -5.506M -$12.36M
YoY Change -105.14% -201.93% -253.75%
FREE CASH FLOW
Cash From Operating Activities $116.1M $108.9M $829.6M
Capital Expenditures $167.8M $138.7M $581.1M
Free Cash Flow -$51.69M -$29.83M $248.5M
YoY Change -116.32% -108.47% -73.1%

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OperatingLeaseRightOfUseAssetAmortizationExpense
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OperatingLeaseRightOfUseAssetAmortizationExpense
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OperatingLeaseRightOfUseAssetAmortizationExpense
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DeferredIncomeTaxesAndTaxCredits
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CY2022 us-gaap Other Operating Activities Cash Flow Statement
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4633000 usd
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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31387000 usd
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42085000 usd
CY2021 lpi Increase Decrease In Undistributed Revenue And Accrued Royalties
IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties
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CY2021 us-gaap Increase Decrease In Other Current Liabilities
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CY2020 us-gaap Increase Decrease In Other Current Liabilities
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CY2021 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2020 us-gaap Increase Decrease In Other Noncurrent Liabilities
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PaymentsToAcquireMidstreamServiceAssets
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PaymentsToAcquireMidstreamServiceAssets
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CY2020 lpi Payments To Acquire Midstream Service Assets
PaymentsToAcquireMidstreamServiceAssets
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CY2020 us-gaap Proceeds From Sale Of Productive Assets
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Repayments Of Long Term Lines Of Credit
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CY2021 us-gaap Repayments Of Senior Debt
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CY2020 us-gaap Repayments Of Senior Debt
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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CY2020 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2021 us-gaap Payments Of Debt Issuance Costs
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CY2021 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
2971000 usd
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13748000 usd
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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8041000 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7900000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56798000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48757000 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40857000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44435000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56798000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48757000 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<div style="margin-bottom:3pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:89.982%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#2e75b6;border-bottom:1pt solid #002060;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Note 1</span></div></td><td colspan="3" style="border-bottom:1pt solid #002060;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#002060;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:130%">Organization</span></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">Vital Energy, Inc. ("Vital" or the "Company"), together with its wholly-owned subsidiaries, is an independent energy company focused on the acquisition, exploration and development of oil and natural gas properties in the Permian Basin of West Texas. The Company has identified one operating segment: exploration and production. In these notes, the "Company" refers to Vital and its subsidiaries collectively, unless the context indicates otherwise. All amounts, dollars and percentages presented in these consolidated financial statements and the related notes are rounded and, therefore, approximate.</span></div>
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 operating_segment
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. There was no impact on previously reported total assets, total liabilities, net income (loss) or stockholders' equity for the periods presented.
CY2022 us-gaap Use Of Estimates
UseOfEstimates
The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although management believes these estimates are reasonable, actual results could differ.Significant estimates include, but are not limited to, (i) volumes of the Company's reserves of oil, natural gas liquids ("NGL") and natural gas, (ii) future cash flows from oil and natural gas properties, (iii) depletion, depreciation and amortization, (iv) impairments, (v) income taxes, (vi) fair values of assets acquired and liabilities assumed in an acquisition, (vii) fair values of derivatives and (viii) contingent assets or liabilities. As fair value is a market-based measurement, it is determined based on the assumptions that would be used by market participants. These estimates and assumptions are based on management's best judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Such estimates and assumptions are adjusted when facts and circumstances dictate. Illiquid credit markets and volatile equity and energy markets may increase the uncertainty inherent in such estimates and assumptions. Management believes its estimates and assumptions to be reasonable under the circumstances. As future events and their effects cannot be determined with precision, actual values and results could differ from these estimates. Any changes in estimates resulting from future changes in the economic environment will be reflected in the financial statements in future periods.
CY2022Q4 us-gaap Other Accrued Liabilities Current
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18966000 usd
CY2022Q4 lpi Accounts Receivable Oil And Gas Sales Net Current
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111260000 usd
CY2021Q4 lpi Accounts Receivable Oil And Gas Sales Net Current
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135560000 usd
CY2022Q4 us-gaap Oil And Gas Joint Interest Billing Receivables Current
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35801000 usd
CY2021Q4 us-gaap Oil And Gas Joint Interest Billing Receivables Current
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11491000 usd
CY2022Q4 lpi Accounts Receivable Purchased Oil And Other Product Sales Current
AccountsReceivablePurchasedOilAndOtherProductSalesCurrent
16308000 usd
CY2021Q4 lpi Accounts Receivable Purchased Oil And Other Product Sales Current
AccountsReceivablePurchasedOilAndOtherProductSalesCurrent
4756000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
163369000 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
151807000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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7247000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
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12746000 usd
CY2022Q4 us-gaap Inventory Net
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CY2021Q4 us-gaap Inventory Net
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CY2021Q4 us-gaap Other Assets Current
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CY2022Q4 us-gaap Interest Payable Current
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43984000 usd
CY2021Q4 us-gaap Interest Payable Current
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56468000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
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20000000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
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14434000 usd
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28569000 usd
CY2022Q4 us-gaap Other Liabilities Current
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82950000 usd
CY2021Q4 us-gaap Other Liabilities Current
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99471000 usd
CY2021Q4 us-gaap Asset Retirement Obligation
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72003000 usd
CY2020Q4 us-gaap Asset Retirement Obligation
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362000 usd
CY2021 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
14610000 usd
CY2022 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3879000 usd
CY2021 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
4233000 usd
CY2022 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
2163000 usd
CY2021 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
15186000 usd
CY2022 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
0 usd
CY2021 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
20000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
74081000 usd
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
72003000 usd
CY2022Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
3715000 usd
CY2021Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
2946000 usd
CY2022Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
70366000 usd
CY2021Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
69057000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
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0 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
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3872000 usd
CY2021 us-gaap Interest Paid Capitalized
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5866000 usd
CY2020 us-gaap Interest Paid Capitalized
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131867000 usd
CY2021 us-gaap Interest Paid Net
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94867000 usd
CY2020 us-gaap Interest Paid Net
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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34532000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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7742000 usd
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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2349000 usd
CY2022 lpi Asset Acquisition Contingent Consideration Fair Value Disclosureasof Acquisition Date
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0 usd
CY2021 lpi Asset Acquisition Contingent Consideration Fair Value Disclosureasof Acquisition Date
AssetAcquisitionContingentConsiderationFairValueDisclosureasofAcquisitionDate
33832000 usd
CY2020 lpi Asset Acquisition Contingent Consideration Fair Value Disclosureasof Acquisition Date
AssetAcquisitionContingentConsiderationFairValueDisclosureasofAcquisitionDate
-225000 usd
CY2022 lpi Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
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-2207000 usd
CY2021 lpi Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
22310000 usd
CY2020 lpi Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
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-8053000 usd
CY2022 lpi Capitalized Asset Retirement Cost
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362000 usd
CY2021 lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
14610000 usd
CY2020 lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
2252000 usd
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
CY2022 us-gaap Operating Lease Cost
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24174000 usd
CY2021 us-gaap Operating Lease Cost
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15894000 usd
CY2022 us-gaap Short Term Lease Cost
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110442000 usd
CY2021 us-gaap Short Term Lease Cost
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83471000 usd
CY2022 us-gaap Variable Lease Cost
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11328000 usd
CY2021 us-gaap Variable Lease Cost
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6873000 usd
CY2022 us-gaap Sublease Income
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990000 usd
CY2021 us-gaap Sublease Income
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1057000 usd
CY2022 us-gaap Lease Cost
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144954000 usd
CY2021 us-gaap Lease Cost
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105181000 usd
CY2022 us-gaap Operating Lease Payments
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3892000 usd
CY2021 us-gaap Operating Lease Payments
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4065000 usd
CY2022 us-gaap Operating Lease Payments Use
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20398000 usd
CY2021 us-gaap Operating Lease Payments Use
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P1Y10M28D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y9M18D
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0.0584
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.0741
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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16467000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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6789000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1350000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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1348000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
666000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
26620000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1736000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
24884000 usd
CY2022 lpi Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
17026000 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
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22500000 shares
CY2021 lpi Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
18255000 usd
CY2020 lpi Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
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18954000 usd
CY2022 us-gaap Depletion Of Oil And Gas Properties
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298259000 usd
CY2021 us-gaap Depletion Of Oil And Gas Properties
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201691000 usd
CY2020 us-gaap Depletion Of Oil And Gas Properties
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203492000 usd
CY2022 lpi Depletion Expense Per Physical Unitof Production
DepletionExpensePerPhysicalUnitofProduction
9.92
CY2021 lpi Depletion Expense Per Physical Unitof Production
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6.76
CY2020 lpi Depletion Expense Per Physical Unitof Production
DepletionExpensePerPhysicalUnitofProduction
6.34
CY2022 lpi Discount Rate Full Cost Ceiling
DiscountRateFullCostCeiling
0.10
CY2022 lpi Unamortized Costs Capitalized Before Related Deferred Income Taxes Exceed Ceiling Limitations Expense
UnamortizedCostsCapitalizedBeforeRelatedDeferredIncomeTaxesExceedCeilingLimitationsExpense
0 usd
CY2021 lpi Unamortized Costs Capitalized Before Related Deferred Income Taxes Exceed Ceiling Limitations Expense
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0 usd
CY2020 lpi Unamortized Costs Capitalized Before Related Deferred Income Taxes Exceed Ceiling Limitations Expense
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889453000 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
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42647000 usd
CY2021Q4 us-gaap Property Plant And Equipment Other Net
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34590000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
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1124151000 usd
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11128000 usd
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18099000 usd
CY2021Q4 us-gaap Long Term Debt
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1425858000 usd
CY2022Q4 lpi Unrestrictedand Unencumbered Cashand Cash Equivalents Maximum
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50000000 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
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CY2022 us-gaap Interest Expense Borrowings
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123255000 usd
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114800000 usd
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104320000 usd
CY2022 lpi Amortization Of Financing Costs And Other Adjustments
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5738000 usd
CY2021 lpi Amortization Of Financing Costs And Other Adjustments
AmortizationOfFinancingCostsAndOtherAdjustments
4451000 usd
CY2020 lpi Amortization Of Financing Costs And Other Adjustments
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3708000 usd
CY2022 us-gaap Interest Costs Capitalized Adjustment
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3872000 usd
CY2021 us-gaap Interest Costs Capitalized Adjustment
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CY2020 us-gaap Interest Costs Capitalized Adjustment
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3019000 usd
CY2022 us-gaap Interest Expense
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CY2021 us-gaap Interest Expense
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CY2020 us-gaap Interest Expense
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200000000 usd
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450000000 shares
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0.01
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50000000 shares
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CY2020Q2 lpi Stock Shares Authorized
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72500000 shares
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16000000 usd
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16672000 shares
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14240000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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16867000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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14464000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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37.88
CY2021 lpi Number Of Reportable Reserves Streams
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CY2021 us-gaap Derivative Gain Loss On Derivative Net
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80114000 usd
CY2022Q4 us-gaap Derivative Asset Fair Value Gross Asset Including Not Subject To Master Netting Arrangement
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43073000 usd
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CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
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43073000 usd
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142500000 usd
CY2021Q4 us-gaap Derivative Liability After Offset Subject To Master Netting Arrangement
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CY2021 us-gaap Current Federal Tax Expense Benefit
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CY2020 us-gaap Current Federal Tax Expense Benefit
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CY2020 us-gaap Current State And Local Tax Expense Benefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2022Q4 lpi Future Net Cash Flow Discount Rate For Impairment Of Oil And Gas Properties
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0.10
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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5502000 usd
CY2021 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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133773000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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31217000 usd
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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182634000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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19301000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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13640000 usd
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
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3274000 usd
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4966000 usd
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
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1231000 usd
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728000 usd
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CY2021 us-gaap Income Tax Expense Benefit
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445426000 usd
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2933000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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11123000 usd
CY2022Q4 us-gaap Deferred Tax Assets Derivative Instruments
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CY2021Q4 us-gaap Deferred Tax Assets Derivative Instruments
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36639000 usd
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1110000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
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3227000 usd
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311400000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
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496415000 usd
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298184000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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443390000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
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13216000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
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53025000 usd
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CY2022Q4 us-gaap Deferred Tax Liabilities Derivatives
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2331000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Derivatives
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CY2022Q4 us-gaap Deferred Income Tax Liabilities
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CY2021Q4 us-gaap Deferred Income Tax Liabilities
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CY2022Q4 us-gaap Deferred Tax Liabilities
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CY2021Q4 us-gaap Deferred Tax Liabilities
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CY2022Q4 lpi Tax Cuts And Jobs Act Of2017 Net Operating Loss Carryforward That Will Not Expire
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425900000 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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0.01
CY2022 lpi Minimum Volume Commitments Deficiency Payments
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13200000 usd
CY2021 lpi Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
4400000 usd
CY2020 lpi Minimum Volume Commitments Deficiency Payments
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4000000 usd
CY2022Q4 lpi Minimum Volume Commitments Deficiency Payments Liability
MinimumVolumeCommitmentsDeficiencyPaymentsLiability
11500000 usd
CY2021Q4 lpi Minimum Volume Commitments Deficiency Payments Liability
MinimumVolumeCommitmentsDeficiencyPaymentsLiability
4700000 usd
CY2021Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
14 senior_officer
CY2021Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
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0.05
CY2020Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
22 employee
CY2022 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
8295000 usd
CY2021 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
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