Income taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of income tax expense

The following table presents the "Current" and "Deferred" income tax (expense) benefit reported on the consolidated statements of operations for the periods presented:

	Years ended December 31,
(in thousands)	2021		2020		2019
Current income tax (expense) benefit:
Federal	$	—	$	—	$	—
State	(1,324)		—		—
Deferred income tax (expense) benefit:
Federal	—		—		—
State	(2,321)		3,946		2,588
Total income tax (expense) benefit	$	(3,645)	$	3,946	$	2,588

Schedule of reconciliation of income tax (expense) benefit computed by applying the federal income tax rate of 34% to pre-tax income from operations

Total income tax (expense) benefit differed from amounts computed by applying the applicable federal income tax rate of 21% for the years ended December 31, 2021, 2020 and 2019 to pre-tax earnings as a result of the following:

	Years ended December 31,
(in thousands)	2021		2020		2019
Income tax (expense) benefit computed by applying the statutory rate	$	(31,217)	$	184,405	$	72,460
Change in deferred tax valuation allowance	45,717		(182,634)		(69,316)
Non-deductible equity-based compensation	(13,640)		—		—
State income tax and change in valuation allowance	(3,274)		2,903		1,863
Other items	(1,231)		(728)		(2,419)
Total income tax (expense) benefit	$	(3,645)	$	3,946	$	2,588

Schedule of net deferred tax assets (liabilities)

The following table presents significant components of the Company's net deferred tax (liability) asset as of the dates presented:

(in thousands)	December 31, 2021		December 31, 2020
Net operating loss carryforward	$	445,426	$	444,031
Oil and natural gas properties, midstream service assets and other fixed assets	(39,504)		22,231
Equity-based compensation	11,123		22,494
Derivatives	36,639		7,166
Loss on sale of assets	(14,364)		(8,458)
Other	3,227		3,130
Net deferred tax asset before valuation allowance	442,547		490,594
Valuation allowance	(443,390)		(489,116)
Texas net deferred tax (liability) asset(1)	$	(843)	$	1,478

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(1)The net deferred tax (liability) asset is included in "Other noncurrent liabilities" and "Other noncurrent assets, net" as of December 31, 2021 and 2020, respectively.

Schedule of federal net operating loss carryforwards

The following table presents the Company's federal net operating loss carryforwards and their applicable expiration dates as of the date presented:

(in thousands)	December 31, 2021
2026	$	2,741
2027	38,651
2028	228,661
2029	101,932
2030	80,963
Thereafter	1,284,150
Total expiring federal net operating loss carryforwards	1,737,098
Non-expiring federal net operating loss carryforwards	376,212
Total federal net operating loss carryforwards	$	2,113,310