Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of net deferred tax position

The Company’s net deferred tax position as of December 31, 2021 and 2020 is as follows (in thousands).

	December 31,
	2021		2020
Deferred tax assets
Net operating loss carryforwards	$	129,651	$	122,952
Unrealized loss on derivatives	3,729		8,997
Percentage depletion carryover	1,770		1,462
Compensation	9,838		10,405
Lease liabilities	4,866		9,380
Other	9,410		8,334
Total deferred tax assets	159,264		161,530
Valuation allowance on deferred tax assets	(10,599)		(110,681)
Total deferred tax assets, net of valuation allowance	148,665		50,849
Deferred tax liabilities
Property and equipment	(179,153)		(11,879)
Less than wholly-owned subsidiaries	(39,900)		(26,564)
Lease right of use assets	(4,866)		(9,380)
Other	(2,684)		(2,684)
Total deferred tax liabilities	(226,603)		(50,507)
Net deferred tax (liabilities) assets	$	(77,938)	$	342

Income tax expense reconciled to the tax computed at the statutory federal rate

The current income tax provision and the deferred income tax provision for the years ended December 31, 2021, 2020 and 2019 were comprised of the following (in thousands). 

	Year Ended December 31,
	2021		2020		2019
Deferred income tax provision (benefit)
Federal income tax	$	44,883	$	(25,675)	$	29,171
State income tax	29,827		(19,924)		6,361
Net deferred income tax provision (benefit)	$	74,710	$	(45,599)	$	35,532

Reconciliations of the tax expense (benefit) computed at the statutory federal rate to the Company’s total income tax provision (benefit) for the years ended December 31, 2021, 2020 and 2019 is as follows (in thousands). 

	Year Ended December 31,
	2021		2020		2019
Federal tax expense (benefit) at statutory rate(1)	$	150,223	$	(125,823)	$	33,441
State income tax	26,646		(20,607)		6,141
Permanent differences	(2,078)		(3,114)		(4,267)
Change in federal valuation allowance	(103,262)		103,262		—
Change in state valuation allowance	3,181		683		217
Net deferred income tax provision (benefit)	74,710		(45,599)		35,532
Total income tax provision (benefit)	$	74,710	$	(45,599)	$	35,532

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(1)The statutory federal tax rate was 21% for the years ended December 31, 2021, 2020 and 2019.