0000950170-22-006231 | 10-Q | XBRL Viewer

Deferred compensation liabilities

1,829,734

2,707,770

Deferred tax liabilities

32,243

117,642

Derivative liabilities

126,030

8,216

197,494

137,102

Operating lease liabilities

23,913

24,861

Asset retirement obligations and other liabilities

102,040

101,509

Divestiture contract obligation

311,443

325,279

Total liabilities

4,960,181

4,574,844

Commitments and contingencies

Stockholders’ Equity

Preferred stock, $1 par, 10,000,000 shares authorized, none issued and outstanding

Common stock, $0.01 par, 475,000,000 shares authorized, 262,777,606 issued at March 31, 2022 and 259,795,554 issued at December 31, 2021

2,627

2,598

Common stock held in treasury, 10,601,535 shares at March 31, 2022 and 10,002,646 shares at December 31, 2021

(46,159)

(30,007)

Additional paid-in capital

5,707,652

5,720,277

Accumulated other comprehensive loss

(75)

(150)

Retained deficit

(4,063,941)

(3,607,055)

Total stockholders’ equity

1,600,104

2,085,663

$ 1,637,535

Total liabilities and stockholders’ equity

$ 6,560,285

$ 6,660,507

[1]	Includes capitalized asset retirement costs and the associated accumulated amortization.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts on accounts receivable	$ 568,000	$ 568,000
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	475,000,000	475,000,000
Common stock, shares issued	262,777,606	259,795,554
Common stock held in treasury, shares	10,601,535	10,002,646

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues and other income:
Total Revenues from Contracts with Customers	$ 1,119,793	$ 683,911
Derivative fair value loss	(939,057)	(57,879)
Total revenues and other income	180,736	626,032
Costs and expenses:
Production and ad valorem taxes	6,590	4,625
Brokered natural gas and marketing	93,123	72,335
Exploration	4,699	5,538
Abandonment and impairment of unproved properties	1,996	3,029
General and administrative	43,026	38,004
Exit and termination costs	11,115	13,714
Deferred compensation plan	73,343	19,811
Interest	47,175	56,878
Loss on early extinguishment of debt	69,210	35
Depletion, depreciation and amortization	85,604	88,383
(Gain) loss on the sale of assets	(331)	1,860
Total costs and expenses	753,625	596,192
(Loss) income before income taxes	(572,889)	29,840
Income tax expense (benefit):
Current	4,751	168
Deferred	(120,832)	2,521
Total (benefit) expense for income taxes	(116,081)	2,689
Net (loss) income	$ (456,808)	$ 27,151
Net (loss) income per common share:
Basic	$ (1.86)	$ 0.11
Diluted	$ (1.86)	$ 0.11
Weighted average common shares outstanding:
Basic	245,350	242,159
Diluted	245,350	247,527
Natural Gas, NGLs and Oil Sales
Revenues and other income:
Total Revenues from Contracts with Customers	$ 1,032,351	$ 603,347
Brokered Natural Gas, Marketing and Other
Revenues and other income:
Total Revenues from Contracts with Customers	87,442	80,564
Direct Operating
Costs and expenses:
Costs and expenses	20,288	17,650
Transportation, Gathering, Processing and Compression
Costs and expenses:
Costs and expenses	$ 297,787	$ 274,330

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (456,808)	$ 27,151
Postretirement benefits:
Amortization of prior service costs	73	92
Income tax expense	2	(22)
Total comprehensive (loss) income	$ (456,733)	$ 27,221

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Industry Specific Policies [Abstract]

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities:
Net (loss) income	$ (456,808)	$ 27,151
Adjustments to reconcile net (loss) income to net cash provided from operating activities:
Deferred income tax (benefit) expense	(120,832)	2,521
Depletion, depreciation and amortization and impairment of proved properties	85,604	88,383
Abandonment and impairment of unproved properties	1,996	3,029
Derivative fair value loss	939,057	57,879
Cash settlements on derivative financial instruments	(133,135)	(39,395)
Divestiture contract obligation, including accretion, net of gain	10,954	12,995
Amortization of deferred financing costs and other	1,965	2,081
Deferred and stock-based compensation	86,113	30,054
(Gain) loss on the sale of assets	(331)	1,860
Loss on early extinguishment of debt	69,210	35
Changes in working capital:
Accounts receivable	58,674	33,146
Other current assets	(5,908)	122
Accounts payable	51,996	34,418
Accrued liabilities and other	(182,141)	(78,735)
Net cash provided from operating activities	406,414	109,252
Investing activities:
Additions to natural gas properties	(90,104)	(99,233)
Additions to field service assets	(37)	(487)
Acreage purchases	(12,599)	(11,849)
Proceeds from disposal of assets	349	8
Purchases of marketable securities held by the deferred compensation plan	(8,996)	(3,172)
Proceeds from the sales of marketable securities held by the deferred compensation plan	6,375	2,333
Net cash used in investing activities	(105,012)	(112,400)
Financing activities:
Borrowings on credit facilities	282,000	478,000
Repayments on credit facilities	(282,000)	(1,056,000)
Issuance of senior notes	500,000	600,000
Repayment of senior or senior subordinated notes	(850,000)
Treasury stock purchases	(16,199)
Debt issuance costs	(6,817)	(8,559)
Taxes paid for shares withheld	(24,995)	(9,097)
Change in cash overdrafts	(8,540)	(1,646)
Proceeds from the sales of common stock held by the deferred compensation plan	3,658	441
Net cash (used in) provided from financing activities	(402,893)	3,139
Decrease in cash and cash equivalents	(101,491)	(9)
Cash and cash equivalents at beginning of period	214,422	458
Cash and cash equivalents at end of period	$ 112,931	$ 449

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Common stock held in treasury	Additional paid-in capital	Retained deficit	Accumulated other comprehensive loss
Beginning balance at Dec. 31, 2020	$ 1,637,535	$ 2,563	$ (30,132)	$ 5,684,268	$ (4,018,685)	$ (479)
Beginning balance Shares at Dec. 31, 2020		256,354,000
Issuance of common stock	(7,621)	$ 33	0	(7,654)	0	0
Issuance of common stock, shares		3,205,000
Issuance of common stock upon vesting of PSUs	0	$ 0	0	148	(148)	0
Issuance of common stock upon vesting of PSUs, shares		13,000
Stock-based compensation expense	6,713	$ 0	0	6,713	0	0
Treasury stock	0	0	47	(47)	0	0
Other comprehensive income	70	0	0		0	70
Net (loss) income	27,151	0	0	0	27,151	0
Ending balance at Mar. 31, 2021	1,663,848	$ 2,596	(30,085)	5,683,428	(3,991,682)	(409)
Ending balance Shares at Mar. 31, 2021		259,572,000
Beginning balance at Dec. 31, 2020	1,637,535	$ 2,563	(30,132)	5,684,268	(4,018,685)	(479)
Beginning balance Shares at Dec. 31, 2020		256,354,000
Ending balance at Dec. 31, 2021	$ 2,085,663	$ 2,598	(30,007)	5,720,277	(3,607,055)	(150)
Ending balance Shares at Dec. 31, 2021	259,795,554	259,796,000
Issuance of common stock	$ (21,247)	$ 29	0	(21,276)	0	0
Issuance of common stock, shares		2,980,000
Issuance of common stock upon vesting of PSUs	0	$ 0	0	78	(78)	0
Issuance of common stock upon vesting of PSUs, shares		2,000
Stock-based compensation expense	8,619	$ 0	0	8,619	0	0
Treasury stock	(16,198)	0	(16,152)	(46)	0	0
Other comprehensive income	75	0	0	0	0	75
Net (loss) income	(456,808)	0	0	0	(456,808)	0
Ending balance at Mar. 31, 2022	$ 1,600,104	$ 2,627	$ (46,159)	$ 5,707,652	$ (4,063,941)	$ (75)
Ending balance Shares at Mar. 31, 2022	262,777,606	262,778,000

Summary of Organization and Nature of Business

3 Months Ended

Mar. 31, 2022

Summary of Organization and Nature of Business

(1) SUMMARY OF ORGANIZATION AND NATURE OF BUSINESS

Range Resources Corporation is a Fort Worth, Texas-based independent natural gas, natural gas liquids (NGLs) and oil company engaged in the exploration, development and acquisition of natural gas properties in the Appalachian region of the United States. Our objective is to build stockholder value through returns-focused development of natural gas properties. Range is a Delaware corporation with our common stock listed and traded on the New York Stock Exchange under the symbol “RRC.”

Basis of Presentation

3 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

(2) BASIS OF PRESENTATION

These consolidated financial statements are unaudited but, in the opinion of management, reflect all adjustments necessary for a fair statement of the results for the periods reported. All adjustments are of a normal recurring nature unless otherwise disclosed. These consolidated financial statements, including selected notes, have been prepared in accordance with the applicable rules of the Securities Exchange Commission (the SEC) and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America (U.S. GAAP) for complete financial statements.

These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2021 Annual Report on Form 10-K filed with the SEC on February 22, 2022. The results of operations for three months ended March 31, 2022 are not necessarily indicative of the results to be expected for the full year.

New Accounting Standards	3 Months Ended
New Accounting Standards	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	(3) NEW ACCOUNTING STANDARDS Not Yet Adopted No accounting standards were adopted in first quarter 2022 that had a material impact on our consolidated financial statements.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
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-Name Accounting Standards Codification
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
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-Subparagraph (c)

Revenue from Contract with Customer [Abstract]

Revenues from Contracts with Customers

3 Months Ended

Mar. 31, 2022

Revenues from Contracts with Customers

(4) REVENUES FROM CONTRACTS WITH CUSTOMERS

Disaggregation of Revenue

We have three material revenue streams in our business: natural gas sales, NGLs sales and condensate sales (referred to below as oil sales). Brokered revenue attributable to each product sales type is included here because the volume of product that we purchase is subsequently sold to separate counterparties in accordance with existing sales contracts under which we also sell our production. Accounts receivable attributable to our revenue contracts with customers was $416.2 million at March 31, 2022 and $460.2 million at December 31, 2021. Revenue attributable to each of our identified revenue streams is disaggregated below (in thousands):


	Three Months Ended March 31,
	2022		2021
Natural gas sales	$	629,923	$	335,801
NGLs sales		338,369		230,408
Oil sales		64,059		37,138
Total natural gas, NGLs and oil sales		1,032,351		603,347
Sales of purchased natural gas		84,062		69,462
Sales of purchased NGLs		1,640		426
Other marketing revenue (1)		1,740		10,676
Total	$	1,119,793	$	683,911

(1)

The three months ended March 31, 2021 includes $8.8 million received as part of a capacity release agreement.

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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Income Taxes

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

(5) INCOME TAXES

We evaluate and update our annual effective income tax rate on a quarterly basis based on current and forecasted operating results and tax laws. Consequently, based upon the mix and timing of our actual earnings compared to annual projections, our effective tax rate may vary quarterly and may make comparisons not meaningful. The effective income tax rate is influenced by a variety of factors including geographic sources and relative magnitude of these sources of income. Income taxes for discrete items are computed and recorded in the period that a specific transaction occurs. For the three months ended

March 31, 2022 and 2021, our overall effective tax rate was different than the federal statutory rate due primarily to state income taxes, equity compensation, valuation allowances and other tax items. Current income taxes reflect estimated state income taxes due for 2022 which is based on our estimated earnings, taking into account state tax rates and laws regarding NOL limitations.

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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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

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-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Income (Loss) Per Common Share

Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

(6) INCOME (LOSS) PER COMMON SHARE

Basic income or loss per share attributable to common shareholders is computed as (1) income or loss attributable to common shareholders (2) less income allocable to participating securities (3) divided by weighted average basic shares outstanding. Diluted income or loss per share attributable to common shareholders is computed as (1) basic income or loss attributable to common shareholders (2) plus diluted adjustments to income allocable to participating securities (3) divided by weighted average diluted shares outstanding. The following sets forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders to diluted income or loss attributable to common shareholders (in thousands, except per share amounts):


	Three Months Ended March 31,
	2022			2021
Net (loss) income, as reported	$	(456,808	)	$	27,151
Participating earnings (a)		—			(673	)
Basic net (loss) income attributed to common shareholders		(456,808	)		26,478
Reallocation of participating earnings (a)		—			14
Diluted net (loss) income attributed to common shareholders	$	(456,808	)	$	26,492
Net (loss) income per common share:
Basic	$	(1.86	)	$	0.11
Diluted	$	(1.86	)	$	0.11


(a)	Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

The following details weighted average common shares outstanding and diluted weighted average common shares outstanding (in thousands):


	Three Months Ended March 31,
	2022		2021
Weighted average common shares outstanding – basic		245,350		242,159
Effect of dilutive securities:
Director and employee restricted stock and performance based equity awards		—		5,368
Weighted average common shares outstanding – diluted		245,350		247,527

Weighted average common shares outstanding-basic for first quarter 2022 excludes 6.2 million shares of restricted stock held in our deferred compensation plan compared to 6.2 million shares in first quarter 2021 (although all awards are issued and outstanding upon grant). Due to our loss in first quarter 2022, we excluded all outstanding equity grants from the computation of diluted loss per share because the effect would have been anti-dilutive to the computations. For first quarter 2021, equity grants of 88,000 were outstanding but not included in the computation of diluted net income per share because the grant prices were greater than the average market price of our common shares and would be anti-dilutive to the computation. Non-vested restricted stock and performance based equity awards are included in the computation using the treasury stock method with the deemed proceeds equal to the average unrecognized compensation during the period.

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization

3 Months Ended

Mar. 31, 2022

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization

(7) Capitalized Costs and Accumulated Depreciation, Depletion and Amortization (a)


	March 31, 2022			December 31, 2021
	(in thousands)
Natural gas properties:
Properties subject to depletion	$	9,447,907		$	9,338,236
Unproved properties		843,612			837,334
Total		10,291,519			10,175,570
Accumulated depletion and depreciation		(4,504,554	)		(4,420,914	)
Net capitalized costs	$	5,786,965		$	5,754,656


(a)	Includes capitalized asset retirement costs and the associated accumulated amortization.

Indebtedness

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Indebtedness

(8) INDEBTEDNESS

We had the following debt outstanding as of the dates shown below. No interest was capitalized during the three months ended March 31, 2022 or the year ended December 31, 2021 (in thousands).


	March 31, 2022			December 31, 2021
Bank debt	$	—		$	—
Senior notes:
4.75% senior notes due 2030		500,000			—
4.875% senior notes due 2025		750,000			750,000
5.00% senior notes due 2022		169,589			169,589
5.00% senior notes due 2023		532,335			532,335
5.875% senior notes due 2022		48,528			48,528
8.25% senior notes due 2029		600,000			600,000
9.25% senior notes due 2026		—			850,000
Total senior notes		2,600,452			2,950,452
Unamortized premium		125			188
Unamortized debt issuance costs		(21,360	)		(24,853	)
Total debt net of debt issuance costs		2,579,217			2,925,787
Less current maturities of long-term debt		(749,483	)		(218,017	)
Total long-term debt	$	1,829,734		$	2,707,770

Bank Debt

In April 2018, we entered into an amended and restated revolving bank facility, which we refer to as our bank debt or our bank credit facility, which is secured by substantially all of our assets and has a maturity date of April 13, 2023. The bank credit facility provides for a maximum facility amount of $4.0 billion and an initial borrowing base of $3.0 billion. The bank credit facility also provides for a borrowing base subject to periodic redeterminations and for event-driven unscheduled redeterminations. As of March 31, 2022, our bank group was composed of twenty-six financial institutions. The borrowing base may be increased or decreased based on our request and sufficient proved reserves, as determined by the bank group. The commitment amount may be increased to the borrowing base, subject to payment of a mutually acceptable commitment fee to those banks agreeing to participate in the facility increase. Borrowings under the bank credit facility can either be at the alternate base rate (ABR, as defined in the bank credit facility agreement) plus a spread ranging from 0.75% to 1.75% or at the LIBOR Rate (as defined in the bank credit facility agreement) plus a spread ranging from 1.75% to 2.75%. The applicable spread is dependent upon borrowings relative to the borrowing base. We may elect, from time to time, to convert all or any part of our LIBOR loans to base rate loans or to convert all or any of the base rate loans to LIBOR loans. The weighted average interest rate was 2.5% for first quarter 2022 compared to 2.2% for first quarter 2021. A commitment fee is paid on the undrawn balance based on an annual rate of 0.30% to 0.375%. At March 31, 2022, the commitment fee was 0.30% and the interest rate margin was 1.75% on our LIBOR loans and 0.75% on our ABR loans.

On March 31, 2022, bank commitments totaled $2.4 billion and we had no borrowings outstanding on our bank credit facility. Additionally, we had $338.0 million of undrawn letters of credit, leaving $2.1 billion of committed borrowing capacity available under the facility.

On April 14, 2022, we entered into an amended and restated revolving bank facility with JPMorgan Chase Bank, N.A. as Administrative Agent and other lenders and agents party thereto. The new facility has a maximum facility amount of $4.0 billion and a current elected borrowing base of $3.0 billion. On April 14, 2022, the bank commitments totaled $1.5 billion. The maturity of the new bank credit facility is April 14, 2027. The financial covenants include a maximum consolidated debt to EBITDAX ratio of 3.75x and a minimum current ratio of 1.0x (each ratio as defined in the bank credit facility). Revisions were also made to replace LIBOR as a benchmark interest rate with SOFR or the secured overnight financing rate. Our bank group is now composed of seventeen financial institutions.

New Senior Notes

In January 2022, we issued $500.0 million aggregate principal amount of 4.75% senior notes due 2030 (the "4.75% Notes") for net proceeds of $492.1 million after underwriting expenses and commissions of $7.9 million. The 4.75% Notes, issued at par, were offered to qualified institutional buyers and to non-U.S. persons outside the United States in compliance with Rule 144A (for life) and Regulation S of the Securities Act of 1933, as amended (the "Securities Act"). Interest due on the 4.75% Notes is payable semi-annually in February and August and is unconditionally guaranteed on a senior unsecured basis by all of our subsidiary guarantors. On or after February 1, 2027, we may redeem the 4.75% Notes, in whole or in part and from time to time, at 100% of the principal amounts plus accrued and unpaid interest. We may redeem the notes prior to their maturity at redemption prices based on a premium, plus accrued and unpaid interest as described in the indenture governing the 4.75% Notes. Upon occurrence of certain changes in control, we must offer to repurchase the 4.75% Notes. The 4.75% Notes are unsecured and are subordinated to all of our existing and future secured debt, rank equally with all of our existing and future unsecured debt and rank senior to all of our existing and future subordinated debt. On the closing of the issuance of the 4.75% Notes, we used the proceeds, along with cash on hand and our bank credit facility, to redeem $850.0 million of our 9.25% senior notes due 2026.

Early Redemption

In first quarter 2022, we announced a call for the redemption of $850.0 million of our outstanding 9.25% senior notes due 2026. The redemption price equaled 106.938% of par plus accrued and unpaid interest. The redemption date was February 1, 2022. We recognized a loss on early extinguishment of debt in first quarter 2022 of $69.2 million which represents expensing of the remaining deferred financing costs and the call premium costs.

Senior Notes

If we experience a change of control, noteholders may require us to repurchase all or a portion of our senior notes at 101% of the aggregate principal amount plus accrued and unpaid interest, if any.

Guarantees

Range is a holding company which owns no operating assets and has no significant operations independent of its subsidiaries. The guarantees by our subsidiaries, which are directly or indirectly owned by Range, of our senior notes and our bank credit facility are full and unconditional and joint and several, subject to certain customary release provisions. The assets, liabilities and results of operations of Range and our guarantor subsidiaries are not materially different than our consolidated financial statements. A subsidiary guarantor may be released from its obligations under the guarantee:

•

in the event of a sale or other disposition of all or substantially all of the assets of the subsidiary guarantor or a sale or other disposition of all the capital stock of the subsidiary guarantor, to any corporation or other person (including an unrestricted subsidiary of Range) by way of merger, consolidation, or otherwise; or

•

if Range designates any restricted subsidiary that is a guarantor to be an unrestricted subsidiary in accordance with the terms of the indenture.

Debt Covenants

Our bank credit facility contains negative covenants that limit our ability, among other things, to pay cash dividends, incur additional indebtedness, sell assets, enter into certain hedging contracts, change the nature of our business or operations, merge, consolidate or make certain investments. Through March 31, 2022, we were required to maintain a ratio of EBITDAX (as defined in the bank credit facility agreement) to cash interest expense of equal to or greater than 2.5 and a current ratio (as defined in the bank credit facility agreement) of no less than 1.0. In addition, the ratio of the present value of proved reserves (as defined in the bank credit facility agreement) to total debt must be equal to or greater than 1.5 until Range has two investment grade ratings. We were in compliance with applicable covenants under the bank credit facility at March 31, 2022.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

3 Months Ended

Mar. 31, 2022

Asset Retirement Obligations

9) ASSET RETIREMENT OBLIGATIONS

Our asset retirement obligations primarily represent the estimated present value of the amounts we will incur to plug, abandon and remediate our producing properties at the end of their productive lives. Significant inputs used in determining such obligations include estimates of plugging and abandonment costs, estimated future inflation rates and well lives. The inputs are calculated based on historical data as well as current estimated costs. A reconciliation of our liability for plugging and abandonment costs for the three months ended March 31, 2022 and the year ended December 31, 2021 is as follows (in thousands):


	Three Months Ended March 31, 2022			Year Ended December 31, 2021
Beginning of period	$	95,836		$	79,822
Liabilities incurred		1,339			73
Liabilities settled		(1,809	)		(8,197	)
Accretion expense		1,520			5,511
Change in estimate		37			18,627
End of period		96,923			95,836
Less current portion		(5,310	)		(5,310	)
Long-term asset retirement obligations	$	91,613		$	90,526

Accretion expense is recognized as a component of depreciation, depletion and amortization expense in the accompanying consolidated statements of operations.

Derivative Activities

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Activities

(10) DERIVATIVE ACTIVITIES

We use commodity-based derivative contracts to manage exposure to commodity price fluctuations. We do not enter into these arrangements for speculative or trading purposes. We utilize commodity swaps, collars, three-way collars or swaptions to (1) reduce the effect of price volatility of the commodities we produce and sell and (2) support our annual capital budget and expenditure plans. The fair value of our derivative contracts, represented by the estimated amount that would be realized upon termination, based on a comparison of the contract price and a reference price, generally the New York Mercantile Exchange (NYMEX) for natural gas and crude oil or Mont Belvieu for NGLs, approximated a net loss of $989.8 million at March 31, 2022. These contracts expire monthly through December 2024. The following table sets forth our commodity-based derivative volumes by year as of March 31, 2022, excluding our basis swaps and divestiture contingent consideration which are discussed separately below:


Period	Contract Type	Volume Hedged	Weighted Average Hedge Price
			Swap			Sold Put	Floor		Ceiling
Natural Gas (1)
2022	Swaps	496,655 Mmbtu/day	$	3.10
2022	Collars	278,073 Mmbtu/day					$	3.31	$	3.72
2022	Three-way Collars	217,745 Mmbtu/day			$	2.30	$	2.84	$	3.45
2023	Swaps	260,000 Mmbtu/day	$	3.41
2023	Collars	234,932 Mmbtu/day					$	3.28	$	4.31
2023	Three-way Collars	149,863 Mmbtu/day			$	2.28	$	3.30	$	4.28
2024	Collars	200,000 Mmbtu/day					$	3.00	$	4.26

Crude Oil
2022	Swaps	6,833 bbls/day	$	61.90
2023	Swaps	5,123 bbls/day	$	71.39

NGLs (C2-Ethane)
April-June 2022	Swaps	2,681 bbls/day	$	0.41/gallon

NGLs (C3-Propane)
April-June 2022	Swaps	3,989 bbls/day	$	1.24/gallon

NGLs (NC4-Butane)
April-June 2022	Swaps	3,000 bbls/day	$	1.50/gallon

NGLs (C5-Natural Gasoline)
2022	Swaps	2,331 bbls/day	$	1.78/gallon
2022	Collars	1,530 bbls/day					$	1.77/gallon	$	1.88/gallon


(1)	We also sold natural gas call swaptions of 100,000 Mmbtu/day for 2023 at a weighted average price of $3.21 Mmbtu/day.

Every derivative instrument is required to be recorded on the balance sheet as either an asset or a liability measured at its fair value. We recognize all changes in fair value of these derivatives as earnings in derivative fair value income or loss in the periods in which they occur.

Basis Swap Contracts

In addition to the swaps, collars and swaptions described above, at March 31, 2022, we had natural gas basis swap contracts which lock in the differential between NYMEX Henry Hub and certain of our physical pricing indices. These contracts settle monthly through December 2024 and include a total volume of 187,405,000 Mmbtu. The fair value of these contracts was a gain of $22.5 million at March 31, 2022.

Divestiture Contingent Consideration

In addition to the derivatives described above, our right to receive contingent consideration in conjunction with the sale of our North Louisiana assets was determined to be a derivative financial instrument that is not designated as a hedging instrument. The remaining contingent consideration of up to $45.5 million is based on future achievement of natural gas and oil prices based on published indexes and realized NGLs prices of the buyer for the years 2022 and 2023. All changes in the fair value are recognized as a gain or loss in earnings in the period they occur in derivative fair value income or loss in our consolidated statements of operations. For first three months 2022, this fair value has increased $8.1 million for a fair value of $34.8 million as of March 31, 2022.

Derivative Assets and Liabilities

The combined fair value of derivatives included in the accompanying consolidated balance sheets as of March 31, 2022 and December 31, 2021 is summarized below. The assets and liabilities are netted where derivatives with both gain and loss positions are held by a single counterparty and we have master netting arrangements. The tables below provide additional information relating to our master netting arrangements with our derivative counterparties (in thousands):


		March 31, 2022
		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet			Net Amounts of Assets Presented in the Balance Sheet
Derivative assets:
Natural gas	–basis swaps	$	27,129	$	(23,113	)	$	4,016
Divestiture contingent consideration			34,760		—			34,760
		$	61,889	$	(23,113	)	$	38,776


		March 31, 2022
		Gross Amounts of Recognized (Liabilities)			Gross Amounts Offset in the Balance Sheet		Net Amounts of (Liabilities) Presented in the Balance Sheet
Derivative (liabilities):
Natural gas	–swaps	$	(447,051	)	$	—	$	(447,051	)
	–swaptions		(45,871	)		—		(45,871	)
	–collars		(220,908	)		—		(220,908	)
	–three-way collars		(174,458	)		—		(174,458	)
	–basis swaps		(4,677	)		23,113		18,436
Crude oil	–swaps		(80,270	)		—		(80,270	)
NGLs	–C2 ethane swaps		(202	)		—		(202	)
	–C3 propane swaps		(2,048	)		—		(2,048	)
	–NC4 butane swaps		(1,640	)		—		(1,640	)
	–C5 natural gasoline swaps		(11,849	)		—		(11,849	)
	–C5 natural gasoline collars		(5,481	)		—		(5,481	)
		$	(994,455	)	$	23,113	$	(971,342	)


		December 31, 2021
		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet			Net Amounts of Assets Presented in the Balance Sheet
Derivative assets:
Natural gas	–swaps	$	22,491	$	(18,111	)	$	4,380
	–collars		12,378		(8,600	)		3,778
	–three-way collars		12,234		(8,449	)		3,785
	–basis swaps		18,092		(10,487	)		7,605
Crude oil	–swaps		368		(2,153	)		(1,785	)
NGLs	–C3 propane spread		4,153		(4,153	)		—
	–C5 natural gasoline swaps		266		(363	)		(97	)
	–C5 natural gasoline collars		221		(221	)		—
Freight	–swaps		114		(81	)		33
Divestiture contingent consideration			26,640		—			26,640
		$	96,957	$	(52,618	)	$	44,339


		December 31, 2021
		Gross Amounts of Recognized (Liabilities)			Gross Amounts Offset in the Balance Sheet		Net Amounts of (Liabilities) Presented in the Balance Sheet
Derivative (liabilities):
Natural gas	–swaps	$	(121,759	)	$	18,111	$	(103,648	)
	–swaptions		(11,149	)		—		(11,149	)
	–collars		(16,579	)		8,600		(7,979	)
	–three-way collars		(37,166	)		8,449		(28,717	)
	–calls		(61	)		—		(61	)
	–basis swaps		(2,064	)		10,487		8,423
Crude oil	–swaps		(27,252	)		2,153		(25,099	)
NGLs	–C3 propane spread		(4,030	)		4,153		123
	–C5 natural gasoline swaps		(2,048	)		363		(1,685	)
	–C5 natural gasoline collars		(1,493	)		221		(1,272	)
Freight	–swaps		—			81		81
		$	(223,601	)	$	52,618	$	(170,983	)

The effects of our derivatives on our consolidated statements of operations are summarized below (in thousands):


	Derivative Fair Value (Loss) Income
	Three Months Ended March 31,
	2022			2021
Commodity swaps	$	(521,355	)	$	(52,764	)
Swaptions		(34,723	)		2,657
Three-way collars		(179,926	)		873
Collars		(232,292	)		(13,288	)
Calls		(1,363	)		(775	)
Basis swaps		22,515			2,155
Freight swaps		(33	)		(667	)
Divestiture contingent consideration		8,120			3,930
Total	$	(939,057	)	$	(57,879	)

Fair Value Measurements

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

(11) FAIR VALUE MEASUREMENTS

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three approaches for measuring the fair value of assets and liabilities: the market approach, the income approach and the cost approach, each of which includes multiple valuation techniques. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to measure fair value by converting future amounts, such as cash flows or earnings, into a single present value amount using current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace the service capacity of an asset. This is often referred to as current replacement cost. The cost approach assumes that the fair value would not exceed what it would cost a market participant to acquire or construct a substitute asset of comparable utility, adjusted for obsolescence.

The fair value accounting standards do not prescribe which valuation technique should be used when measuring fair value and does not prioritize among the techniques. These standards establish a fair value hierarchy that prioritizes the inputs used in applying the various valuation techniques. Inputs broadly refer to the assumptions that market participants use to make pricing decisions, including assumptions about risk. Level 1 inputs are given the highest priority in the fair value hierarchy while Level 3 inputs are given the lowest priority. The three levels of the fair value hierarchy are as follows:

•

Level 1 – Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

•

Level 2 – Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

•

Level 3 – Unobservable inputs for which there is little, if any, market activity for the asset or liability being measured. These inputs reflect management’s best estimates of the assumptions market participants would use in determining fair value. Our Level 3 measurements consist of instruments using standard pricing models and other valuation methods that utilize unobservable pricing inputs that are significant to the overall fair value.

Valuation techniques that maximize the use of observable inputs are favored. Assets and liabilities are classified in their entirety based on the lowest priority level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities within the levels of the fair value hierarchy.

Significant uses of fair value measurements include:

•

impairment assessments of long-lived assets; and

•

recorded value of derivative instruments and trading securities.

The need to test long-lived assets can be based on several indicators, including a significant reduction in prices of natural gas, oil and condensate, NGLs, unfavorable adjustments to reserves, significant changes in the expected timing of production, other changes to contracts or changes in the regulatory environment in which a property is located.

Fair Values – Recurring

We use a market approach for our recurring fair value measurements and endeavor to use the best information available. The following tables present the fair value hierarchy for assets and liabilities measured at fair value, on a recurring basis (in thousands):


		Fair Value Measurements at March 31, 2022 using:
		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Carrying Value as of March 31, 2022
Trading securities held in the deferred compensation plans		$	71,184	$	—		$	—		$	71,184

Commodity price derivatives	–swaps		—		(543,060	)		—			(543,060	)
	–collars		—		(220,908	)		(5,481	)		(226,389	)
	–three-way collars		—		(174,458	)		—			(174,458	)
	–basis swaps		—		22,452			—			22,452
	–swaptions		—		—			(45,871	)		(45,871	)
Divestiture contingent consideration			—		34,760			—			34,760


		Fair Value Measurements at December 31, 2021 using:
		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Carrying Value as of December 31, 2021
Trading securities held in the deferred compensation plans		$	69,606	$	—		$	—		$	69,606

Commodity price derivatives	–swaps		—		(127,934	)		—			(127,934	)
	–calls		—		(61	)		—			(61	)
	–collars		—		(4,201	)		(1,272	)		(5,473	)
	–three-way collars		—		(24,932	)		—			(24,932	)
	–basis swaps		—		16,151			—			16,151
	–swaptions		—		—			(11,149	)		(11,149	)
Derivatives	–freight swaps		—		114			—			114
Divesture contingent consideration			—		26,640			—			26,640

Our trading securities in Level 1 are exchange-traded and measured at fair value with a market approach using end of period market values. Derivatives in Level 2 are measured at fair value with a market approach using third-party pricing services which have been corroborated with data from active markets or broker quotes. As of March 31, 2022, a portion of our natural gas and oil derivative instruments contain swaptions where the counterparty has the right, but not the obligation, to enter into a fixed price swap on a pre-determined date. If exercised, the swaption contract becomes a swap treated consistently with our fixed-price swaps. In addition to our swaptions in Level 3 at March 31, 2022, we have NGLs collars. Derivatives in Level 3 are also measured at fair value with a market approach using third-party pricing services which have been corroborated with data from active markets or broker quotes. However, the subjectivity in the volatility factors utilized can cause a significant change in the fair value measurement of our derivatives in Level 3 and is considered a significant unobservable input. At March 31, 2022, for our swaptions, we used a weighted average implied volatility of 36% for natural gas. We also utilized a range of implied volatilities from 44% to 77% for our NGLs collars with a weighted average implied volatility of 56%. The following is a reconciliation of the beginning and ending balances for derivative instruments classified as Level 3 in the fair value hierarchy (in thousands):


	As of March 31, 2022
Balance at December 31, 2021	$	(12,420	)
Total losses:
Included in earnings		(28,105	)
Additions		(12,320	)
Settlements		1,493
Transfers out of Level 3		—
Balance at March 31, 2022	$	(51,352	)

Divestiture Contingent Consideration. In August 2020, we completed the sale of our North Louisiana assets where we are entitled to receive contingent consideration based on future achievement of natural gas and oil prices based on published indexes along with NGLs prices based on the realized NGLs prices of the buyer. We used an option pricing model to estimate the fair value of the contingent consideration using significant Level 2 inputs that include quoted future commodity prices based on active markets.

Trading securities. Our trading securities held in the deferred compensation plan are accounted for using the mark-to- market accounting method and are included in other assets in the accompanying consolidated balance sheets. We elected to adopt the fair value option to simplify our accounting for the investments in our deferred compensation plan. Interest, dividends, and mark-to-market gains or losses are included in deferred compensation plan expense in the accompanying consolidated statements of operations. For first quarter 2022, interest and dividends were $115,000 and the mark-to-market adjustment was a loss of $4.3 million compared to interest and dividends of $109,000 and a mark-to-market gain of $2.0 million in first quarter 2021.

Fair Values – Reported

The following presents the carrying amounts and the fair values of our financial instruments as of March 31, 2022 and December 31, 2021 (in thousands):


	March 31, 2022						December 31, 2021
	Carrying Value			Fair Value			Carrying Value			Fair Value
Assets:
Commodity swaps, collars and basis swaps	$	4,016		$	4,016		$	17,699		$	17,699
Divestiture contingent consideration		34,760			34,760			26,640			26,640
Marketable securities (a)		71,184			71,184			69,606			69,606
(Liabilities):
Commodity swaps, collars and basis swaps		(971,342	)		(971,342	)		(170,983	)		(170,983	)
Bank credit facility (b)		—			—			—			—
5.00% senior notes due 2022 (b)		(169,589	)		(169,628	)		(169,589	)		(171,488	)
5.875% senior notes due 2022 (b)		(48,528	)		(48,528	)		(48,528	)		(48,955	)
5.00% senior notes due 2023 (b)		(532,335	)		(536,769	)		(532,335	)		(543,471	)
4.875% senior notes due 2025 (b)		(750,000	)		(759,735	)		(750,000	)		(776,153	)
9.25% senior notes due 2026 (b)		—			—			(850,000	)		(916,929	)
8.25% senior notes due 2029 (b)		(600,000	)		(657,480	)		(600,000	)		(669,648	)
4.75% senior notes due 2030 (b)		(500,000	)		(496,795	)		—			—
Deferred compensation plan (c)		(237,657	)		(237,657	)		(165,395	)		(165,395	)


(a)	Marketable securities, which are held in our deferred compensation plans, are actively traded on major exchanges.
(b)	The book value of our bank debt approximates fair value because of its floating rate structure. The fair value of our senior notes is based on end of period market quotes which are Level 2 inputs.
(c)	The fair value of our deferred compensation plan is updated to the closing price on the balance sheet date which is a Level 1 input.

Our current assets and liabilities include financial instruments, the most significant of which are trade accounts receivable and payable. We believe the carrying values of our current assets and liabilities approximate fair value. Our fair value assessment incorporates a variety of considerations, including (1) the short-term duration of the instruments and (2) our historical and expected incurrence of bad debt expense. Non-financial liabilities initially measured at fair value include asset retirement obligations, operating lease liabilities and the divestiture contract obligation that we incurred in conjunction with the sale of our North Louisiana assets.

Concentrations of Credit Risk

As of March 31, 2022, our primary concentrations of credit risk are the risks of not collecting accounts receivable and the risk of a counterparty’s failure to perform under derivative obligations. Most of our receivables are from a diverse group of companies, including major energy companies, pipeline companies, local distribution companies, financial institutions and end-users in various industries. Letters of credit or other appropriate assurances are obtained as deemed necessary to limit our risk of loss. Our allowance for uncollectable receivables was $568,000 at both March 31, 2022 and December 31, 2021. Our derivative exposure to credit risk is diversified primarily among major investment grade financial institutions, where we have master netting agreements which provide for offsetting payables against receivables from separate derivative contracts. To manage counterparty risk associated with our derivatives, we select and monitor our counterparties based on our assessment of their financial strength and/or credit ratings. We may also limit the level of exposure with any single counterparty. At March 31, 2022, our derivative counterparties include fifteen financial institutions, of which all but five are secured lenders in our bank credit facility. At March 31, 2022, our net derivative liability includes a net receivable of $3.6 million from three of these counterparties that are not participants in our bank credit facility and an aggregate net payable of $1.6 million to two of these counterparties.

Allowance for Expected Credit Losses. Each reporting period, we assess the recoverability of material receivables using historical data, current market conditions and reasonable and supported forecasts of future economic conditions to determine their expected collectability. The loss given default method is used when, based on management’s judgment, an allowance for expected credit losses should be accrued on a material receivable to reflect the net amount to be collected.

Share-based Payment Arrangement [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stock-based Compensation Plans

3 Months Ended

Mar. 31, 2022

Stock-based Compensation Plans

(12) STOCK-BASED COMPENSATION PLANS

Stock-Based Awards

We have two active equity-based stock plans: our Amended and Restated 2005 Equity-Based Incentive Compensation Plan and our Amended and Restated 2019 Equity-Based Compensation Plan. Under these plans, various awards may be issued to non-employee directors and employees pursuant to decisions of the Compensation Committee, which is composed of only non-employee, independent directors.

Total Stock-Based Compensation Expense

Stock-based compensation represents amortization of restricted stock and performance units. Unlike the other forms of stock-based compensation, the mark-to-market adjustment of the liability related to the vested restricted stock held in our deferred compensation plan is directly tied to the change in our stock price and not directly related to the functional expenses and therefore, is not allocated to the functional categories. The following details the allocation of stock-based compensation to functional expense categories (in thousands):


	Three Months Ended March 31,
	2022		2021
Direct operating expense	$	349	$	327
Brokered natural gas and marketing expense		519		450
Exploration expense		452		386
General and administrative expense		11,573		9,405
Total stock-based compensation expense	$	12,893	$	10,568

Stock-Based Awards

Restricted Stock Awards. We grant restricted stock units under our equity-based stock compensation plans. These restricted stock units, which we refer to as restricted stock Equity Awards, generally vest over a three-year period, contingent on the recipient’s continued employment. The grant date fair value of the Equity Awards is based on the fair market value of our common stock on the date of grant.

The Compensation Committee also grants restricted stock to certain employees and non-employee directors of the Board of Directors as part of their compensation. We also grant restricted stock to certain employees for retention purposes. Compensation expense is recognized over the balance of the vesting period, which is typically three years for employee grants and one year vesting for non-employee directors. All restricted stock awards are issued at prevailing market prices at the time of the grant and the vesting is based upon an employee’s continued employment with us. Prior to vesting, all restricted stock award recipients have the right to vote such stock and receive dividends thereon. Upon grant of these restricted shares, which we refer to as restricted stock Liability Awards, the majority of these shares are generally placed in our deferred compensation plan and, upon vesting, withdrawals are allowed in either cash or in stock. In early 2021, vesting for new grants of restricted stock Liability Awards changed to a three-year cliff vesting from a ratable 30%-30%-40% vesting schedule. These Liability Awards are classified as a liability and are remeasured at fair value each reporting period. This mark-to-market amount is reported in deferred compensation plan expense in the accompanying consolidated statements of operations. Historically, we have used authorized but unissued shares of stock when restricted stock is granted. However, we can also utilize treasury shares when available.

Stock-Based Performance Units. We grant three types of performance share awards: two based on internal performance conditions which are measured against internal performance metrics and one based on market conditions measured based on Range’s performance relative to a predetermined peer group (TSR Awards or TSR-PSUs). In first quarter 2021, our internal performance metrics were changed to focus on debt reduction and to include an environmental component. For shares granted in 2021, the performance conditions will be measured against internal metrics of Debt/EBITDAX (earnings before interest, taxes, depreciation, amortization and exploration expense) and emission intensity performance. In first quarter 2022, the performance conditions will be measured against internal metrics of net debt (total debt less cash on hand) and emission intensity performance.

Each unit granted represents one share of our common stock. These units are settled in stock and the amount of the payout is based on (1) the vesting percentage, which can range from zero to 200% based on performance achieved, which is determined by the Compensation Committee and (2) the value of our common stock on the vesting date. Dividend equivalents may accrue during the performance period and are paid in stock at the end of the performance period. The performance period is for three years. Prior to 2021, the performance period for the internal performance metrics was based on annual performance targets earned over a three-year period.

Restricted Stock – Equity Awards

In first three months 2022, we granted 1.4 million restricted stock Equity Awards to employees at an average grant date fair value of $18.47 which generally vest over a three-year period compared to 2.3 million at an average grant date fair value of $10.20 in first three months 2021. We recorded compensation expense for these outstanding awards of $5.9 million in first three months 2022 compared to $5.2 million in the same period of 2021. Restricted stock Equity Awards are not issued to employees until such time as they are vested. Employees do not have the option to receive cash.

Restricted Stock – Liability Awards

In first three months 2022, we granted 602,000 shares of restricted stock Liability Awards as compensation to employees at an average grant date fair value of $20.42 which generally vest at the end of a three-year period. In first three months 2021, we granted 1.2 million shares of restricted stock Liability Awards as compensation to employees at an average grant date fair value of $9.29 with vesting generally at the end of a three-year period. We recorded compensation expense for these Liability Awards of $3.6 million in first three months 2022 compared to $2.9 million in first three months 2021. The majority of these awards are held in our deferred compensation plan, are classified as a liability and are remeasured at fair value each reporting period. This mark-to-market amount is reported as deferred compensation expense in our consolidated statements of operations (see additional discussion below). The following is a summary of the status of our non-vested restricted stock outstanding at March 31, 2022:


	Restricted Stock Equity Awards					Restricted Stock Liability Awards
	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2021		2,674,777		$	7.39		796,629		$	6.49
Granted		1,380,660			18.47		601,983			20.42
Vested		(600,158	)		9.00		(299,862	)		10.62
Forfeited		(15,379	)		9.63		—			—
Outstanding at March 31, 2022		3,439,900		$	11.55		1,098,750		$	13.00

Stock-Based Performance Units

Internal Performance Metric Awards. These awards vest at the end of the three-year performance period. The performance metrics are set by the Compensation Committee. If the performance metric for the applicable period is not met, that portion is considered forfeited and there is an adjustment to the expense recorded. See additional information above for shares granted in first quarter 2021 and 2022. The following is a summary of our non-vested internal performance awards outstanding at March 31, 2022:


	Number of Units			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2021		1,095,355		$	7.80
Units granted (a)		153,089			20.38
Vested and issued (b)		(243,482	)		9.64
Forfeited		—			—
Outstanding at March 31, 2022		1,004,962		$	9.27


(a)	Amounts granted reflect the number of performance units granted; however, the actual payout of shares will be between zero and 200% depending on achievement of specifically identified performance targets. Units granted in first quarter 2022 were to our CEO, CFO and COO only.
(b)	For the awards issued during 2019, the aggregate payout was approximately 116% of target with a positive performance adjustment of 158,793 shares.

We recorded compensation expense of $1.7 million in first three months 2022 compared to expense of $740,000 in first three months 2021.

TSR Awards. TSR-PSUs granted are earned, or not earned, based on the comparative performance of Range’s common stock measured against a predetermined group of companies in the peer group over a three-year performance period. The fair value of the TSR-PSUs is estimated on the date of grant using a Monte Carlo simulation model which utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the award grant and calculates the fair value of the award. The fair value is recognized as stock-based compensation expense over the three-year performance period. Expected volatilities utilized in the model were estimated using a combination of a historical period consistent with the remaining performance period of three years and option implied volatilities. The risk-free interest rate was based on the United States Treasury rate for a term commensurate with the life of the grant. The following assumptions were used to estimate the fair value of TSR-PSUs granted during first three months 2022 and 2021:


	Three Months Ended March 31,
	2022			2021
Risk-free interest rate		1.4	%		0.2	%
Expected annual volatility		68	%		75	%
Grant date fair value per unit	$	27.90		$	12.58

The following is a summary of our non-vested TSR-PSUs award activities:


	Number of Units			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2021		1,147,994		$	7.60
Units granted (a)		111,828			27.90
Vested and issued (b)		(314,152	)		11.34
Forfeited		—			—
Outstanding at March 31, 2022		945,670		$	8.76


(a)	These amounts reflect the number of performance units granted. The actual payout of shares may be between zero and 200% of the performance units granted depending on the total shareholder return ranking compared to our peer companies at the vesting date.
(b)	Includes TSR-PSUs awards granted in 2019 where the return on our common stock was 127% and therefore, the performance multiple and actual payout was 183%.

We recorded TSR-PSUs compensation expense of $773,000 in first three months 2022 compared to $595,000 in the same period of 2021. Fair value is amortized over the performance period with no adjustment to the expense recorded for actual targets achieved.

Other Post Retirement Benefits

Effective fourth quarter 2017, as part of our officer succession plan, we implemented a post retirement benefit plan to assist in providing health care to officers who are active employees (including their spouses) and have met certain age and service requirements. These benefits are not funded in advance and are provided up to age 65 or at the date they become eligible for Medicare, subject to various cost-sharing features. There was approximately $70,000 of estimated prior service costs amortized from accumulated other comprehensive income into general and administrative expense in first quarter 2022 compared to approximately $90,000 in first quarter 2021. Those employees that qualify for this retirement health care plan are required to provide reasonable notice of retirement and provide one year of service after an equity grant date to be fully vested in the grant.

Deferred Compensation Plan

Our deferred compensation plan gives non-employee directors and officers the ability to defer all or a portion of their salaries, bonuses or director fees and invest in Range common stock or make other investments at the individual’s discretion. Range provides a partial matching contribution to officers which vests over three years. In early 2021, vesting for the matching contribution was changed to a three-year cliff vesting schedule. The assets of the plan are held in a grantor trust, which we refer to as the Rabbi Trust, and are therefore available to satisfy the claims of our general creditors in the event of bankruptcy or insolvency. Our stock held in the Rabbi Trust is treated as a liability award as employees are allowed to take withdrawals from the Rabbi Trust either in cash or in Range stock. The liability for the vested portion of the stock held in the Rabbi Trust is reflected as deferred compensation liability in the accompanying consolidated balance sheets and is adjusted to fair value each reporting period by a charge or credit to deferred compensation plan expense on our consolidated statements of operations. The assets of the Rabbi Trust, other than our common stock, are invested in marketable securities and reported at their market value as other assets in the accompanying consolidated balance sheets. The deferred compensation liability reflects the vested market value of the marketable securities and Range stock held in the Rabbi Trust. Changes in the market value of the marketable securities and changes in the fair value of the deferred compensation plan liability are charged or credited to deferred compensation plan expense each quarter. We recorded a mark-to-market loss of $73.3 million in first quarter 2022 compared to a mark-to-market loss of $19.8 million in first quarter 2021. The Rabbi Trust held 6.7 million shares (5.6 million of which were vested) of Range stock at March 31, 2022 compared to 6.2 million shares (5.4 million of which were vested) at December 31, 2021.

Exit and Termination Costs

3 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]

Exit and Termination Costs

(13) EXIT AND TERMINATION COSTS

Exit Costs

In August 2020, we sold our North Louisiana assets and retained certain gathering, transportation and processing obligations which extend into 2030. These are contracts where we will not realize any future benefit. The estimated obligations are included in current and long-term divestiture contract obligation in our consolidated balance sheets. In first three months 2022, we recorded accretion expense of $11.0 million compared to $13.0 million in the same period of the prior year. The estimated discounted divestiture contract obligation was $398.9 million at March 31, 2022.

In second quarter 2020, we negotiated capacity releases on certain transportation pipelines in Pennsylvania effective May 31, 2020 and extending through the remainder of the contract. The estimated remaining discounted obligation for these transportation capacity releases as of March 31, 2022 was $6.8 million.

Termination Costs

The following summarizes our exit and termination costs for the three months ended March 31, 2022 and 2021 (in thousands):


	Three Months Ended March 31,
	2022		2021
Severance costs	$	—	$	509
Transportation contract capacity releases (accretion of discount)		161		210
Divestiture contract obligation (accretion of discount)		10,954		12,995
	$	11,115	$	13,714

The following details the accrued exit and termination cost liability activity for the three months ended March 31, 2022 (in thousands):


	Exit Costs (1)			Termination Costs
Balance at December 31, 2021	$	423,742		$	10
Accretion of discount		11,115			—
Payments		(29,115	)		—
Balance at March 31, 2022	$	405,742		$	10


(1)	Includes the divestiture contract obligation and the transportation contract capacity release obligation.

Capital Stock

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Capital Stock

(14) CAPITAL STOCK

We have authorized capital stock of 485.0 million shares which includes 475.0 million shares of common stock and 10.0 million shares of preferred stock. We currently have no preferred stock issued or outstanding. The following is a schedule of changes in the number of common shares outstanding since the beginning of 2021:


	Three Months Ended March 31, 2022			Year Ended December 31, 2021
Beginning balance		249,792,908			246,348,092
Restricted stock grants		601,983			1,293,892
Restricted stock units vested		1,787,286			1,493,341
Performance stock units issued		590,940			640,468
Performance stock dividends		1,843			13,966
Treasury shares		(598,889	)		3,149
Ending balance		252,176,071			249,792,908

Stock Repurchase Program

In 2019, the board of directors approved a stock purchase program to acquire up to $100.0 million of our outstanding stock. In early 2022, board authorized an additional repurchase of up to $430.0 million of our outstanding common stock for an aggregate available amount at that time of $500.0 million. Under this program, we may repurchase shares in open market transactions, from time to time, in accordance with applicable SEC rules and federal securities laws. In first quarter 2022, we repurchased 600,000 shares at an aggregate cost of $16.2 million. The following is a schedule of the change in treasury shares for the three months ended March 31, 2022:


	Three Months Ended March 31, 2022
Beginning balance		10,002,646
Rabbi trust shares distributed/sold		(1,111	)
Shares repurchased		600,000
Ending balance		10,601,535

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.

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Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2022

Supplemental Cash Flow Information

(15) SUPPLEMENTAL CASH FLOW INFORMATION


	Three Months Ended March 31,
	2022			2021
	(in thousands)
Net cash provided from operating activities included:
Income taxes paid to taxing authorities	$	(2,307	)	$	—
Interest paid		(86,615	)		(64,100	)
Non-cash investing and financing activities included:
Increase in asset retirement costs capitalized		1,377			761
(Increase) decrease in accrued capital expenditures		12,606			(5,850	)

Commitments and Contingencies

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

(16) COMMITMENTS AND CONTINGENCIES

Litigation

We are the subject of, or party to, a number of pending or threatened legal actions, administrative proceedings or investigations arising in the ordinary course of our business including, but not limited to, royalty claims, contract claims and environmental claims. While many of these matters involve inherent uncertainty, we believe that the amount of the liability, if any, ultimately incurred with respect to these actions, proceedings or claims will not have a material adverse effect on our consolidated financial position as a whole or on our liquidity, capital resources or future annual results of operations.

When deemed necessary, we establish reserves for certain legal proceedings. The establishment of a reserve is based on an estimation process that includes the advice of legal counsel and subjective judgment of management. While management believes these reserves to be adequate, it is reasonably possible we could incur additional losses with respect to those matters in which reserves have been established. We will continue to evaluate our litigation on a quarterly basis and will establish and adjust any litigation reserves as appropriate to reflect our assessment of the then current status of litigation.

We have incurred and will continue to incur capital, operating and remediation expenditures as a result of environmental laws and regulations. As of March 31, 2022, liabilities for remediation were not material. We are not aware of any environmental claims existing as of March 31, 2022 that have not been provided for or would otherwise have a material impact on our financial position or results of operations. Environmental liabilities normally involve estimates that are subject to revision until final resolution, settlement or remediation occurs.

On March 4, 2021 a putative class action lawsuit was filed in the Western District of Pennsylvania in Case No. 2:21-CV-301 (Jacobowitz v. Range Resources Corporation et al.) in which the Plaintiff sought to represent a class of Range stockholders who purchased or acquired stock from April 29, 2016 to February 10, 2021. This lawsuit had been transferred to the U.S. District Court for the Northern District of Texas (Fort Worth Division) and claimed that Range misclassified certain wells as inactive rather than having plugged the wells and that such alleged misclassification affected the determination of our asset retirement obligation accrual. On March 31, 2022, the court granted our motion to dismiss and each claim was dismissed with prejudice. Plaintiffs have until May 2 to file an appeal of the March 31 ruling and dismissal. Additionally, on January 20, 2022, a derivative action styled as Lewis v. Ventura et al. was filed under seal in the Northern District of Texas (Case No. 4-22CV-051-0) asserting similar allegations as the Jacobowitz matter. We maintain the same views as to the merits of the Lewis matter as the Jacobowitz matter and we plan to vigorously defend this matter and seek its dismissal.

Costs Incurred for Property Acquisition, Exploration and Development

3 Months Ended

Mar. 31, 2022

Costs Incurred for Property Acquisition, Exploration and Development

(17) Costs Incurred for Property Acquisition, Exploration and Development (a)


	Three Months Ended March 31, 2022		Year Ended December 31, 2021
	(in thousands)
Acquisitions:
Acreage purchases	$	8,574	$	21,942
Development		107,987		381,753
Exploration:
Drilling		—		6,329
Expense		4,247		22,048
Stock-based compensation expense		452		1,507
Gas gathering facilities:
Development		7		3,402
Subtotal		121,267		436,981
Asset retirement obligations		1,377		18,634
Total costs incurred	$	122,644	$	455,615


(a)	Includes costs incurred whether capitalized or expensed.

Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

New Accounting Standards

Not Yet Adopted

No accounting standards were adopted in first quarter 2022 that had a material impact on our consolidated financial statements.

Revenues from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue by Identified Revenue Stream

Revenue attributable to each of our identified revenue streams is disaggregated below (in thousands):


	Three Months Ended March 31,
	2022		2021
Natural gas sales	$	629,923	$	335,801
NGLs sales		338,369		230,408
Oil sales		64,059		37,138
Total natural gas, NGLs and oil sales		1,032,351		603,347
Sales of purchased natural gas		84,062		69,462
Sales of purchased NGLs		1,640		426
Other marketing revenue (1)		1,740		10,676
Total	$	1,119,793	$	683,911

(1)

The three months ended March 31, 2021 includes $8.8 million received as part of a capacity release agreement.

Income (Loss) Per Common Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Computations of Basic and Diluted Income (Loss) Per Common Share


	Three Months Ended March 31,
	2022			2021
Net (loss) income, as reported	$	(456,808	)	$	27,151
Participating earnings (a)		—			(673	)
Basic net (loss) income attributed to common shareholders		(456,808	)		26,478
Reallocation of participating earnings (a)		—			14
Diluted net (loss) income attributed to common shareholders	$	(456,808	)	$	26,492
Net (loss) income per common share:
Basic	$	(1.86	)	$	0.11
Diluted	$	(1.86	)	$	0.11


(a)	Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

Basic Weighted Average Common Shares Outstanding and Diluted Weighted Average Common Shares Outstanding

The following details weighted average common shares outstanding and diluted weighted average common shares outstanding (in thousands):


	Three Months Ended March 31,
	2022		2021
Weighted average common shares outstanding – basic		245,350		242,159
Effect of dilutive securities:
Director and employee restricted stock and performance based equity awards		—		5,368
Weighted average common shares outstanding – diluted		245,350		247,527

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization (Tables)

3 Months Ended

Mar. 31, 2022

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization


	March 31, 2022			December 31, 2021
	(in thousands)
Natural gas properties:
Properties subject to depletion	$	9,447,907		$	9,338,236
Unproved properties		843,612			837,334
Total		10,291,519			10,175,570
Accumulated depletion and depreciation		(4,504,554	)		(4,420,914	)
Net capitalized costs	$	5,786,965		$	5,754,656


(a)	Includes capitalized asset retirement costs and the associated accumulated amortization.

Indebtedness (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Debt Outstanding

We had the following debt outstanding as of the dates shown below. No interest was capitalized during the three months ended March 31, 2022 or the year ended December 31, 2021 (in thousands).


	March 31, 2022			December 31, 2021
Bank debt	$	—		$	—
Senior notes:
4.75% senior notes due 2030		500,000			—
4.875% senior notes due 2025		750,000			750,000
5.00% senior notes due 2022		169,589			169,589
5.00% senior notes due 2023		532,335			532,335
5.875% senior notes due 2022		48,528			48,528
8.25% senior notes due 2029		600,000			600,000
9.25% senior notes due 2026		—			850,000
Total senior notes		2,600,452			2,950,452
Unamortized premium		125			188
Unamortized debt issuance costs		(21,360	)		(24,853	)
Total debt net of debt issuance costs		2,579,217			2,925,787
Less current maturities of long-term debt		(749,483	)		(218,017	)
Total long-term debt	$	1,829,734		$	2,707,770

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.

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Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations (Tables)

3 Months Ended

Mar. 31, 2022

Asset Retirement Obligation

A reconciliation of our liability for plugging and abandonment costs for the three months ended March 31, 2022 and the year ended December 31, 2021 is as follows (in thousands):


	Three Months Ended March 31, 2022			Year Ended December 31, 2021
Beginning of period	$	95,836		$	79,822
Liabilities incurred		1,339			73
Liabilities settled		(1,809	)		(8,197	)
Accretion expense		1,520			5,511
Change in estimate		37			18,627
End of period		96,923			95,836
Less current portion		(5,310	)		(5,310	)
Long-term asset retirement obligations	$	91,613		$	90,526

Derivative Activities (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Volumes Hedged and Average Hedge Prices

The following table sets forth our commodity-based derivative volumes by year as of March 31, 2022, excluding our basis swaps and divestiture contingent consideration which are discussed separately below:


Period	Contract Type	Volume Hedged	Weighted Average Hedge Price
			Swap			Sold Put	Floor		Ceiling
Natural Gas (1)
2022	Swaps	496,655 Mmbtu/day	$	3.10
2022	Collars	278,073 Mmbtu/day					$	3.31	$	3.72
2022	Three-way Collars	217,745 Mmbtu/day			$	2.30	$	2.84	$	3.45
2023	Swaps	260,000 Mmbtu/day	$	3.41
2023	Collars	234,932 Mmbtu/day					$	3.28	$	4.31
2023	Three-way Collars	149,863 Mmbtu/day			$	2.28	$	3.30	$	4.28
2024	Collars	200,000 Mmbtu/day					$	3.00	$	4.26

Crude Oil
2022	Swaps	6,833 bbls/day	$	61.90
2023	Swaps	5,123 bbls/day	$	71.39

NGLs (C2-Ethane)
April-June 2022	Swaps	2,681 bbls/day	$	0.41/gallon

NGLs (C3-Propane)
April-June 2022	Swaps	3,989 bbls/day	$	1.24/gallon

NGLs (NC4-Butane)
April-June 2022	Swaps	3,000 bbls/day	$	1.50/gallon

NGLs (C5-Natural Gasoline)
2022	Swaps	2,331 bbls/day	$	1.78/gallon
2022	Collars	1,530 bbls/day					$	1.77/gallon	$	1.88/gallon


(1)	We also sold natural gas call swaptions of 100,000 Mmbtu/day for 2023 at a weighted average price of $3.21 Mmbtu/day.

Combined Fair Value of Derivatives, by Consolidated Balance Sheets

The tables below provide additional information relating to our master netting arrangements with our derivative counterparties (in thousands):


		March 31, 2022
		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet			Net Amounts of Assets Presented in the Balance Sheet
Derivative assets:
Natural gas	–basis swaps	$	27,129	$	(23,113	)	$	4,016
Divestiture contingent consideration			34,760		—			34,760
		$	61,889	$	(23,113	)	$	38,776


		March 31, 2022
		Gross Amounts of Recognized (Liabilities)			Gross Amounts Offset in the Balance Sheet		Net Amounts of (Liabilities) Presented in the Balance Sheet
Derivative (liabilities):
Natural gas	–swaps	$	(447,051	)	$	—	$	(447,051	)
	–swaptions		(45,871	)		—		(45,871	)
	–collars		(220,908	)		—		(220,908	)
	–three-way collars		(174,458	)		—		(174,458	)
	–basis swaps		(4,677	)		23,113		18,436
Crude oil	–swaps		(80,270	)		—		(80,270	)
NGLs	–C2 ethane swaps		(202	)		—		(202	)
	–C3 propane swaps		(2,048	)		—		(2,048	)
	–NC4 butane swaps		(1,640	)		—		(1,640	)
	–C5 natural gasoline swaps		(11,849	)		—		(11,849	)
	–C5 natural gasoline collars		(5,481	)		—		(5,481	)
		$	(994,455	)	$	23,113	$	(971,342	)


		December 31, 2021
		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet			Net Amounts of Assets Presented in the Balance Sheet
Derivative assets:
Natural gas	–swaps	$	22,491	$	(18,111	)	$	4,380
	–collars		12,378		(8,600	)		3,778
	–three-way collars		12,234		(8,449	)		3,785
	–basis swaps		18,092		(10,487	)		7,605
Crude oil	–swaps		368		(2,153	)		(1,785	)
NGLs	–C3 propane spread		4,153		(4,153	)		—
	–C5 natural gasoline swaps		266		(363	)		(97	)
	–C5 natural gasoline collars		221		(221	)		—
Freight	–swaps		114		(81	)		33
Divestiture contingent consideration			26,640		—			26,640
		$	96,957	$	(52,618	)	$	44,339


		December 31, 2021
		Gross Amounts of Recognized (Liabilities)			Gross Amounts Offset in the Balance Sheet		Net Amounts of (Liabilities) Presented in the Balance Sheet
Derivative (liabilities):
Natural gas	–swaps	$	(121,759	)	$	18,111	$	(103,648	)
	–swaptions		(11,149	)		—		(11,149	)
	–collars		(16,579	)		8,600		(7,979	)
	–three-way collars		(37,166	)		8,449		(28,717	)
	–calls		(61	)		—		(61	)
	–basis swaps		(2,064	)		10,487		8,423
Crude oil	–swaps		(27,252	)		2,153		(25,099	)
NGLs	–C3 propane spread		(4,030	)		4,153		123
	–C5 natural gasoline swaps		(2,048	)		363		(1,685	)
	–C5 natural gasoline collars		(1,493	)		221		(1,272	)
Freight	–swaps		—			81		81
		$	(223,601	)	$	52,618	$	(170,983	)

Effects of Derivatives on Consolidated Statements of Operations

The effects of our derivatives on our consolidated statements of operations are summarized below (in thousands):


	Derivative Fair Value (Loss) Income
	Three Months Ended March 31,
	2022			2021
Commodity swaps	$	(521,355	)	$	(52,764	)
Swaptions		(34,723	)		2,657
Three-way collars		(179,926	)		873
Collars		(232,292	)		(13,288	)
Calls		(1,363	)		(775	)
Basis swaps		22,515			2,155
Freight swaps		(33	)		(667	)
Divestiture contingent consideration		8,120			3,930
Total	$	(939,057	)	$	(57,879	)

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value

Fair Value Measurements (Tables)

3 Months Ended

9 Months Ended

Mar. 31, 2022

Sep. 30, 2021

Fair Value Disclosures [Abstract]

The following tables present the fair value hierarchy for assets and liabilities measured at fair value, on a recurring basis (in thousands):


		Fair Value Measurements at March 31, 2022 using:
		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Carrying Value as of March 31, 2022
Trading securities held in the deferred compensation plans		$	71,184	$	—		$	—		$	71,184

Commodity price derivatives	–swaps		—		(543,060	)		—			(543,060	)
	–collars		—		(220,908	)		(5,481	)		(226,389	)
	–three-way collars		—		(174,458	)		—			(174,458	)
	–basis swaps		—		22,452			—			22,452
	–swaptions		—		—			(45,871	)		(45,871	)
Divestiture contingent consideration			—		34,760			—			34,760


		Fair Value Measurements at December 31, 2021 using:
		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Carrying Value as of December 31, 2021
Trading securities held in the deferred compensation plans		$	69,606	$	—		$	—		$	69,606

Commodity price derivatives	–swaps		—		(127,934	)		—			(127,934	)
	–calls		—		(61	)		—			(61	)
	–collars		—		(4,201	)		(1,272	)		(5,473	)
	–three-way collars		—		(24,932	)		—			(24,932	)
	–basis swaps		—		16,151			—			16,151
	–swaptions		—		—			(11,149	)		(11,149	)
Derivatives	–freight swaps		—		114			—			114
Divesture contingent consideration			—		26,640			—			26,640

Reconciliation of the Beginning and Ending Balances for Derivative Instruments Classified as Level 3 in the Fair Value Hierarchy

The following is a reconciliation of the beginning and ending balances for derivative instruments classified as Level 3 in the fair value hierarchy (in thousands):


	As of March 31, 2022
Balance at December 31, 2021	$	(12,420	)
Total losses:
Included in earnings		(28,105	)
Additions		(12,320	)
Settlements		1,493
Transfers out of Level 3		—
Balance at March 31, 2022	$	(51,352	)

Carrying Amounts and Fair Values of Financial Instruments

The following presents the carrying amounts and the fair values of our financial instruments as of March 31, 2022 and December 31, 2021 (in thousands):


	March 31, 2022						December 31, 2021
	Carrying Value			Fair Value			Carrying Value			Fair Value
Assets:
Commodity swaps, collars and basis swaps	$	4,016		$	4,016		$	17,699		$	17,699
Divestiture contingent consideration		34,760			34,760			26,640			26,640
Marketable securities (a)		71,184			71,184			69,606			69,606
(Liabilities):
Commodity swaps, collars and basis swaps		(971,342	)		(971,342	)		(170,983	)		(170,983	)
Bank credit facility (b)		—			—			—			—
5.00% senior notes due 2022 (b)		(169,589	)		(169,628	)		(169,589	)		(171,488	)
5.875% senior notes due 2022 (b)		(48,528	)		(48,528	)		(48,528	)		(48,955	)
5.00% senior notes due 2023 (b)		(532,335	)		(536,769	)		(532,335	)		(543,471	)
4.875% senior notes due 2025 (b)		(750,000	)		(759,735	)		(750,000	)		(776,153	)
9.25% senior notes due 2026 (b)		—			—			(850,000	)		(916,929	)
8.25% senior notes due 2029 (b)		(600,000	)		(657,480	)		(600,000	)		(669,648	)
4.75% senior notes due 2030 (b)		(500,000	)		(496,795	)		—			—
Deferred compensation plan (c)		(237,657	)		(237,657	)		(165,395	)		(165,395	)

Stock-based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2022

Allocation of Stock-Based Compensation by Functional Category

The following details the allocation of stock-based compensation to functional expense categories (in thousands):


	Three Months Ended March 31,
	2022		2021
Direct operating expense	$	349	$	327
Brokered natural gas and marketing expense		519		450
Exploration expense		452		386
General and administrative expense		11,573		9,405
Total stock-based compensation expense	$	12,893	$	10,568

Restricted Stock and Restricted Stock Units Outstanding

The following is a summary of the status of our non-vested restricted stock outstanding at March 31, 2022:


	Restricted Stock Equity Awards					Restricted Stock Liability Awards
	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2021		2,674,777		$	7.39		796,629		$	6.49
Granted		1,380,660			18.47		601,983			20.42
Vested		(600,158	)		9.00		(299,862	)		10.62
Forfeited		(15,379	)		9.63		—			—
Outstanding at March 31, 2022		3,439,900		$	11.55		1,098,750		$	13.00

Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions

The following assumptions were used to estimate the fair value of TSR-PSUs granted during first three months 2022 and 2021:


	Three Months Ended March 31,
	2022			2021
Risk-free interest rate		1.4	%		0.2	%
Expected annual volatility		68	%		75	%
Grant date fair value per unit	$	27.90		$	12.58

Performance-based Internal Performance Awards

Summary of Non-Vested Awards Activities

The following is a summary of our non-vested internal performance awards outstanding at March 31, 2022:


	Number of Units			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2021		1,095,355		$	7.80
Units granted (a)		153,089			20.38
Vested and issued (b)		(243,482	)		9.64
Forfeited		—			—
Outstanding at March 31, 2022		1,004,962		$	9.27

Performance Based TSR - PSUs

Summary of Non-Vested Awards Activities

The following is a summary of our non-vested TSR-PSUs award activities:


	Number of Units			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2021		1,147,994		$	7.60
Units granted (a)		111,828			27.90
Vested and issued (b)		(314,152	)		11.34
Forfeited		—			—
Outstanding at March 31, 2022		945,670		$	8.76


(a)	These amounts reflect the number of performance units granted. The actual payout of shares may be between zero and 200% of the performance units granted depending on the total shareholder return ranking compared to our peer companies at the vesting date.
(b)	Includes TSR-PSUs awards granted in 2019 where the return on our common stock was 127% and therefore, the performance multiple and actual payout was 183%.

Exit and Termination Costs (Tables)

3 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]

Summary of Exit and Termination Costs

The following summarizes our exit and termination costs for the three months ended March 31, 2022 and 2021 (in thousands):


	Three Months Ended March 31,
	2022		2021
Severance costs	$	—	$	509
Transportation contract capacity releases (accretion of discount)		161		210
Divestiture contract obligation (accretion of discount)		10,954		12,995
	$	11,115	$	13,714

Exit and Termination Costs Included in Accrued Liabilities in Consolidated Balance Sheet

The following details the accrued exit and termination cost liability activity for the three months ended March 31, 2022 (in thousands):


	Exit Costs (1)			Termination Costs
Balance at December 31, 2021	$	423,742		$	10
Accretion of discount		11,115			—
Payments		(29,115	)		—
Balance at March 31, 2022	$	405,742		$	10


(1)	Includes the divestiture contract obligation and the transportation contract capacity release obligation.

Capital Stock (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Schedule of Changes in Number of Common Shares Outstanding

The following is a schedule of changes in the number of common shares outstanding since the beginning of 2021:


	Three Months Ended March 31, 2022			Year Ended December 31, 2021
Beginning balance		249,792,908			246,348,092
Restricted stock grants		601,983			1,293,892
Restricted stock units vested		1,787,286			1,493,341
Performance stock units issued		590,940			640,468
Performance stock dividends		1,843			13,966
Treasury shares		(598,889	)		3,149
Ending balance		252,176,071			249,792,908

Schedule of Change in Treasury Shares

The following is a schedule of the change in treasury shares for the three months ended March 31, 2022:


	Three Months Ended March 31, 2022
Beginning balance		10,002,646
Rabbi trust shares distributed/sold		(1,111	)
Shares repurchased		600,000
Ending balance		10,601,535

Supplemental Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information


	Three Months Ended March 31,
	2022			2021
	(in thousands)
Net cash provided from operating activities included:
Income taxes paid to taxing authorities	$	(2,307	)	$	—
Interest paid		(86,615	)		(64,100	)
Non-cash investing and financing activities included:
Increase in asset retirement costs capitalized		1,377			761
(Increase) decrease in accrued capital expenditures		12,606			(5,850	)

Costs Incurred for Property Acquisition, Exploration and Development (Tables)

3 Months Ended

Mar. 31, 2022

Costs Incurred for Property Acquisition, Exploration and Development


	Three Months Ended March 31, 2022		Year Ended December 31, 2021
	(in thousands)
Acquisitions:
Acreage purchases	$	8,574	$	21,942
Development		107,987		381,753
Exploration:
Drilling		—		6,329
Expense		4,247		22,048
Stock-based compensation expense		452		1,507
Gas gathering facilities:
Development		7		3,402
Subtotal		121,267		436,981
Asset retirement obligations		1,377		18,634
Total costs incurred	$	122,644	$	455,615


(a)	Includes costs incurred whether capitalized or expensed.

Revenues from Contracts with Customers - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) RevenueStreams	Dec. 31, 2021 USD ($)
Disaggregation of Revenue [Line Items]
Number of revenue streams \| RevenueStreams	3
Revenue Contract with Customer
Disaggregation of Revenue [Line Items]
Accounts receivable \| $	$ 416.2	$ 460.2

Revenues from Contracts with Customers - Disaggregation of Revenue by Identified Revenue Stream (Detail) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Natural Gas, NGLs and Oil Sales

$ 1,119,793

$ 683,911

Natural Gas, NGLs and Oil Sales | Natural gas sales

1,032,351

603,347

Natural Gas, NGLs and Oil Sales | NGLs sales

629,923

335,801

Natural Gas, NGLs and Oil Sales | Oil sales

338,369

230,408

Brokered Natural Gas, Marketing and Other

64,059

37,138

Brokered Natural Gas, Marketing and Other | Natural gas sales

87,442

80,564

Brokered Natural Gas, Marketing and Other | NGLs sales

84,062

69,462

Brokered Natural Gas, Marketing and Other | Other marketing revenue

1,640

426

^[1]

$ 1,740

$ 10,676

[1]	The three months ended March 31, 2021 includes $8.8 million received as part of a capacity release agreement.

Amount, excluding 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.

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Earnings Per Share Reconciliation [Abstract]

Revenues from Contracts with Customers - Disaggregation of Revenue by Identified Revenue Stream (Parenthetical) (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2021 USD ($)
Brokered Natural Gas, Marketing and Other \| Other marketing revenue
Disaggregation of Revenue [Line Items]
Revenue received as part of capital release agreement	$ 8.8

Income (Loss) Per Common Share - Computations of Basic and Diluted Income (Loss) Per Common Share (Detail) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Net (loss) income

$ (456,808)

$ 27,151

Participating earnings

^[1]

(673)

Basic net (loss) income attributed to common stockholders

(456,808)

26,478

Reallocation of participating earnings

^[1]

Diluted net (loss) income attributed to common stockholders

$ (456,808)

$ 26,492

Net (loss) income per common share:

Basic

$ (1.86)

$ 0.11

Diluted

$ (1.86)

$ 0.11

[1]

Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Properties subject to depletion

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.

+ References + Details

Income (Loss) Per Common Share - Basic Weighted Average Common Shares Outstanding and Diluted Weighted Average Common Shares Outstanding (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted average common shares outstanding – basic	245,350	242,159
Effect of dilutive securities:
Director and employee restricted stock and performance based equity awards	0	5,368
Weighted average common shares outstanding - diluted	245,350	247,527

Income (Loss) Per Common Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Equity Grants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Stock excluded from earning per share calculation		88,000
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Stock excluded from earning per share calculation	6,200,000	6,200,000

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization (Detail) - USD ($)
$ in Thousands

Mar. 31, 2022

Dec. 31, 2021

Natural gas properties:

^[1]

$ 9,447,907

$ 9,338,236

Unproved properties

^[1]

843,612

837,334

Total

^[1]

10,291,519

10,175,570

Accumulated depletion and depreciation

^[1]

(4,504,554)

(4,420,914)

Natural gas and oil properties, successful efforts method, net

^[1]

$ 5,786,965

$ 5,754,656

[1]	Includes capitalized asset retirement costs and the associated accumulated amortization.

Indebtedness - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Interest capitalized during the period	$ 0	$ 0

Indebtedness - Debt Outstanding (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Jan. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Senior notes	$ 2,600,452		$ 2,950,452
Unamortized premium	125		188
Unamortized debt issuance costs	(21,360)		(24,853)
Total debt net of debt issuance costs	2,579,217		2,925,787
Less current maturities of long-term debt	(749,483)		(218,017)
Total debt	1,829,734		2,707,770
Notes Payable to Banks
Debt Instrument [Line Items]
Bank debt	0		0
4.75% Senior Notes Due 2030
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ (7,900)
4.75% Senior Notes Due 2030 \| Notes Payable to Banks
Debt Instrument [Line Items]
Senior notes	500,000		0
4.875% Senior Notes Due 2025 \| Notes Payable to Banks
Debt Instrument [Line Items]
Senior notes	750,000		750,000
5.00% Senior Notes Due 2022 \| Notes Payable to Banks
Debt Instrument [Line Items]
Senior notes	169,589		169,589
5.00% Senior Notes Due 2023 \| Notes Payable to Banks
Debt Instrument [Line Items]
Senior notes	532,335		532,335
5.875% Senior Notes Due 2022 \| Notes Payable to Banks
Debt Instrument [Line Items]
Senior notes	48,528		48,528
8.25% Senior Notes Due 2029 \| Notes Payable to Banks
Debt Instrument [Line Items]
Senior notes	600,000		600,000
9.25% Senior Notes Due 2026 \| Notes Payable to Banks
Debt Instrument [Line Items]
Senior notes	$ 0		$ 850,000

Indebtedness - Debt Outstanding (Parenthetical) (Detail)	Mar. 31, 2022	Jan. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
4.75% Senior Notes Due 2030
Debt Instrument [Line Items]
Interest rate on notes	4.75%	4.75%	4.75%
4.875% Senior Notes Due 2025
Debt Instrument [Line Items]
Interest rate on notes	4.875%		4.875%
5.00% Senior Notes Due 2022
Debt Instrument [Line Items]
Interest rate on notes	5.00%		5.00%
5.00% Senior Notes Due 2023
Debt Instrument [Line Items]
Interest rate on notes	5.00%		5.00%
5.875% Senior Notes Due 2022
Debt Instrument [Line Items]
Interest rate on notes	5.875%		5.875%	5.875%	5.875%
8.25% Senior Notes Due 2029
Debt Instrument [Line Items]
Interest rate on notes	8.25%		8.25%
9.25% Senior Notes Due 2026
Debt Instrument [Line Items]
Interest rate on notes	9.25%		9.25%

Indebtedness - Bank Debt - Additional Information (Detail)		3 Months Ended
	Apr. 14, 2022 USD ($)	Mar. 31, 2022 USD ($) Commercialbank	Mar. 31, 2021
Bank Credit Facility
Debt Instrument [Line Items]
Bank credit facility, maximum amount		$ 4,000,000,000.0
Bank credit facility, borrowing base		$ 3,000,000,000.0
Number of commercial banks included in current bank group \| Commercialbank		26
Maturity date of loan		Apr. 13, 2023
Bank commitments		$ 2,400,000,000
Undrawn letters of credit		338,000,000.0
Borrowing capacity available under the commitment amount		$ 2,100,000,000
Weighted average interest rate on the bank credit facility		2.50%	2.20%
Annual rate of commitment fee paid on the undrawn balance		0.30%
Bank Credit Facility \| Alternate Base Rate
Debt Instrument [Line Items]
Interest rate margin		0.75%
Bank Credit Facility \| LIBOR Rate
Debt Instrument [Line Items]
Interest rate margin		1.75%
Bank Credit Facility \| Minimum
Debt Instrument [Line Items]
Annual rate of commitment fee paid on the undrawn balance		0.30%
Ratio of debt to EBITDAX		250.00%
Current ratio		100.00%
Bank Credit Facility \| Minimum \| Alternate Base Rate
Debt Instrument [Line Items]
Base rate on debt		0.75%
Bank Credit Facility \| Minimum \| LIBOR Rate
Debt Instrument [Line Items]
Base rate on debt		1.75%
Bank Credit Facility \| Maximum
Debt Instrument [Line Items]
Annual rate of commitment fee paid on the undrawn balance		0.375%
Bank Credit Facility \| Maximum \| Alternate Base Rate
Debt Instrument [Line Items]
Base rate on debt		1.75%
Bank Credit Facility \| Maximum \| LIBOR Rate
Debt Instrument [Line Items]
Base rate on debt		2.75%
Bank Credit Facility - New
Debt Instrument [Line Items]
Bank credit facility, maximum amount	$ 4,000,000,000.0
Bank credit facility, borrowing base	$ 3,000,000,000.0
Maturity date of loan	Apr. 14, 2027
Bank commitments	$ 1,500,000,000
Bank Credit Facility - New \| Minimum
Debt Instrument [Line Items]
Current ratio	100.00%
Bank Credit Facility - New \| Maximum
Debt Instrument [Line Items]
Ratio of debt to EBITDAX	375.00%

Indebtedness - New Senior Notes - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 21,360	$ 24,853
4.75% Senior Notes Due 2030
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000
Interest rate on notes	4.75%	4.75%	4.75%
Debt instrument maturity year	2030
Net proceeds after underwriting expenses	$ 492,100
Unamortized debt issuance costs	$ 7,900
Redemption price of notes as percentage of principal amount		100.00%
9.25% Senior Notes Due 2026
Debt Instrument [Line Items]
Interest rate on notes	9.25%	9.25%	9.25%
Debt instrument maturity year		2026
Redemption price of notes as percentage of principal amount		106.938%
Repayments of Senior Debt	$ 850,000	$ 850,000

Indebtedness - Early Redemption - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2022	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Loss on early extinguishment of debt		$ (69,210)	$ (35)
9.25% Senior Notes Due 2026
Debt Instrument [Line Items]
Redemption price of notes as percentage of principal amount		106.938%
Repayments of Senior Debt	$ 850,000	$ 850,000
Debt instrument maturity year		2026

Indebtedness - Senior Notes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022
Senior Notes
Debt Instrument [Line Items]
Redemption price of notes as percentage of principal amount	101.00%

Indebtedness - Guarantees and Debt Covenants - Additional Information (Detail) - Bank Credit Facility	3 Months Ended
	Mar. 31, 2022
Debt Instrument [Line Items]
Debt instrument, covenant compliance	Our bank credit facility contains negative covenants that limit our ability, among other things, to pay cash dividends, incur additional indebtedness, sell assets, enter into certain hedging contracts, change the nature of our business or operations, merge, consolidate or make certain investments. Through March 31, 2022, we were required to maintain a ratio of EBITDAX (as defined in the bank credit facility agreement) to cash interest expense of equal to or greater than 2.5 and a current ratio (as defined in the bank credit facility agreement) of no less than 1.0. In addition, the ratio of the present value of proved reserves (as defined in the bank credit facility agreement) to total debt must be equal to or greater than 1.5 until Range has two investment grade ratings. We were in compliance with applicable covenants under the bank credit facility at March 31, 2022.
Minimum
Debt Instrument [Line Items]
Ratio of debt to EBITDAX	250.00%
Current ratio	100.00%
Present value of proved reserves to total debt	150.00%

Asset Retirement Obligations - Asset Retirement Obligations (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Asset Retirement Obligation [Abstract]
Beginning of period	$ 95,836	$ 79,822
Liabilities incurred	1,339	73
Liabilities settled	(1,809)	(8,197)
Accretion expense	1,520	5,511
Change in estimate	37	18,627
End of period	96,923	95,836
Less current portion	(5,310)	(5,310)
Long-term asset retirement obligations	$ 91,613	$ 90,526

Derivative Activities - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) MMBTU
Contingent Consideration
Derivative [Line Items]
Gain on derivative	$ 8.1
Contingent Consideration \| Minimum
Derivative [Line Items]
Derivative assets liabilities at fair value net	34.8
Contingent Consideration \| North Louisiana \| Maximum
Derivative [Line Items]
Potential contractual payout of contingent consideration	45.5
Derivatives Excluding Basis Swaps and Freight Swaps
Derivative [Line Items]
Loss on derivative	(989.8)
Commodity \| Natural Gas Basis Swaps
Derivative [Line Items]
Derivative assets liabilities at fair value net	$ 22.5
Volume Hedged \| MMBTU	187,405,000

Derivative Activities - Derivative Volumes Hedged and Average Hedge Prices (Detail)

Mar. 31, 2022

MMBTU

BarrelsPerDay

bbl / d

MmbtuPerDay

$ / MMBTU

$ / bbl

$ / gal

2022 Commodity Contract | Natural Gas | Swaps

Weighted Average Hedge Price, Swap

496,655

^[1]

3.10

^[1]

2022 Commodity Contract | Natural Gas | Collars

278,073

^[1]

3.31

^[1]

2022 Commodity Contract | Natural Gas | Three Way Collars

3.72

^[1]

Weighted Average Hedge Price, Sold Put

217,745

^[1]

2.30

^[1]

2.84

^[1]

2022 Commodity Contract | Crude Oil | Swaps

3.45

^[1]

Weighted Average Hedge Price, Swap | $ / bbl

6,833

61.90

2022 Commodity Contract | NGLs (C5-Natural Gasoline) | Swaps

2,331

2022 Commodity Contract | NGLs (C5-Natural Gasoline) | Collars

1.78

Weighted average price of hedge, Floor | $ / gal

1,530

1.77

Weighted average price of hedge, Ceiling | $ / gal

1.88

2023 Commodity Contract | Natural Gas

2023 Commodity Contract | Natural Gas | Swaps

Volume Hedged | MMBTU

100,000

Weighted Average Hedge Price, Swap

260,000

^[1]

3.41

2023 Commodity Contract | Natural Gas | Collars

234,932

^[1]

3.28

2023 Commodity Contract | Natural Gas | Three Way Collars

4.31

Weighted Average Hedge Price, Sold Put

149,863

^[1]

2.28

3.30

2023 Commodity Contract | Crude Oil | Swaps

4.28

Weighted Average Hedge Price, Swap | $ / bbl

5,123

71.39

2024 Commodity Contract | Natural Gas | Collars

200,000

^[1]

3.00

April - June 2022 Commodity Contract | NGLs (C2- Ethane) | Swaps

4.26

2,681

April - June 2022 Commodity Contract | NGLs (C3-Propane)

0.41

April - June 2022 Commodity Contract | NGLs (C3-Propane) | Swaps

Volume Hedged | bbl / d

3,989

April - June 2022 Commodity Contract | NGLs (NC4-Butane)

1.24

April - June 2022 Commodity Contract | NGLs (NC4-Butane) | Swaps

Volume Hedged | bbl / d

3,000

Reported Value Measurement

1.50

[1]	We also sold natural gas call swaptions of 100,000 Mmbtu/day for 2023 at a weighted average price of $3.21 Mmbtu/day

Derivative Activities - Derivative Volumes Hedged and Average Hedge Prices (Parenthetical) (Detail) - 2023 Commodity Contract - Natural Gas	Mar. 31, 2022 MMBTU $ / MMBTU
Derivative [Line Items]
Volume Hedged \| MMBTU	100,000
Call Swaptions
Derivative [Line Items]
Weighted average price of hedge \| $ / MMBTU	3.21

Derivative Activities - Schedule of Additional Information Related to Master Netting Arrangements with Derivative Counterparties (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Gross Amounts of Recognized Assets	$ 61,889	$ 96,957
Gross Amounts Offset in the Balance Sheet	(23,113)	(52,618)
Net Amounts of Assets Presented in the Balance Sheet	38,776	44,339
Gross Amounts of Recognized (Liabilities)	(994,455)	(223,601)
Gross Amounts Offset in the Balance Sheet	23,113	52,618
Net Amounts of (Liabilities) Presented in the Balance Sheet	(971,342)	(170,983)
Contingent Consideration
Derivative [Line Items]
Gross Amounts of Recognized Assets	34,760	26,640
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts of Assets Presented in the Balance Sheet	34,760	26,640
NGLs (C3-Propane) \| Swaps
Derivative [Line Items]
Gross Amounts of Recognized (Liabilities)	(2,048)
Gross Amounts Offset in the Balance Sheet	0
Net Amounts of (Liabilities) Presented in the Balance Sheet	(2,048)
Commodity \| Natural Gas \| Swaps
Derivative [Line Items]
Gross Amounts of Recognized Assets		22,491
Gross Amounts Offset in the Balance Sheet		(18,111)
Net Amounts of Assets Presented in the Balance Sheet		4,380
Gross Amounts of Recognized (Liabilities)	(447,051)	(121,759)
Gross Amounts Offset in the Balance Sheet	0	18,111
Net Amounts of (Liabilities) Presented in the Balance Sheet	(447,051)	(103,648)
Commodity \| Natural Gas \| Swaptions
Derivative [Line Items]
Gross Amounts of Recognized (Liabilities)	(45,871)	(11,149)
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts of (Liabilities) Presented in the Balance Sheet	(45,871)	(11,149)
Commodity \| Natural Gas \| Collars
Derivative [Line Items]
Gross Amounts of Recognized Assets		12,378
Gross Amounts Offset in the Balance Sheet		(8,600)
Net Amounts of Assets Presented in the Balance Sheet		3,778
Gross Amounts of Recognized (Liabilities)	(220,908)	(16,579)
Gross Amounts Offset in the Balance Sheet	0	8,600
Net Amounts of (Liabilities) Presented in the Balance Sheet	(220,908)	(7,979)
Commodity \| Natural Gas \| Three Way Collars
Derivative [Line Items]
Gross Amounts of Recognized Assets		12,234
Gross Amounts Offset in the Balance Sheet		(8,449)
Net Amounts of Assets Presented in the Balance Sheet		3,785
Gross Amounts of Recognized (Liabilities)	(174,458)	(37,166)
Gross Amounts Offset in the Balance Sheet	0	8,449
Net Amounts of (Liabilities) Presented in the Balance Sheet	(174,458)	(28,717)
Commodity \| Natural Gas \| Basis Swaps
Derivative [Line Items]
Gross Amounts of Recognized Assets	27,129	18,092
Gross Amounts Offset in the Balance Sheet	(23,113)	(10,487)
Net Amounts of Assets Presented in the Balance Sheet	4,016	7,605
Gross Amounts of Recognized (Liabilities)	(4,677)	(2,064)
Gross Amounts Offset in the Balance Sheet	23,113	10,487
Net Amounts of (Liabilities) Presented in the Balance Sheet	18,436	8,423
Commodity \| Natural Gas \| Calls
Derivative [Line Items]
Gross Amounts of Recognized (Liabilities)		(61)
Gross Amounts Offset in the Balance Sheet		0
Net Amounts of (Liabilities) Presented in the Balance Sheet		(61)
Commodity \| Crude Oil \| Swaps
Derivative [Line Items]
Gross Amounts of Recognized Assets		368
Gross Amounts Offset in the Balance Sheet		(2,153)
Net Amounts of Assets Presented in the Balance Sheet		(1,785)
Gross Amounts of Recognized (Liabilities)	(80,270)	(27,252)
Gross Amounts Offset in the Balance Sheet	0	2,153
Net Amounts of (Liabilities) Presented in the Balance Sheet	(80,270)	(25,099)
Commodity \| NGLs (C2- Ethane) \| Swaps
Derivative [Line Items]
Gross Amounts of Recognized (Liabilities)	(202)
Gross Amounts Offset in the Balance Sheet	0
Net Amounts of (Liabilities) Presented in the Balance Sheet	(202)
Commodity \| NGLs (C3-Propane) \| Spread Swaps
Derivative [Line Items]
Gross Amounts of Recognized Assets		4,153
Gross Amounts Offset in the Balance Sheet		(4,153)
Net Amounts of Assets Presented in the Balance Sheet		0
Gross Amounts of Recognized (Liabilities)		(4,030)
Gross Amounts Offset in the Balance Sheet		4,153
Net Amounts of (Liabilities) Presented in the Balance Sheet		123
Commodity \| NGLs (C4-Butane) \| Swaps
Derivative [Line Items]
Gross Amounts of Recognized (Liabilities)	(1,640)
Gross Amounts Offset in the Balance Sheet	0
Net Amounts of (Liabilities) Presented in the Balance Sheet	(1,640)
Commodity \| NGLs (C5-Natural Gasoline) \| Swaps
Derivative [Line Items]
Gross Amounts of Recognized Assets		266
Gross Amounts Offset in the Balance Sheet		(363)
Net Amounts of Assets Presented in the Balance Sheet		(97)
Gross Amounts of Recognized (Liabilities)	(11,849)	(2,048)
Gross Amounts Offset in the Balance Sheet	0	363
Net Amounts of (Liabilities) Presented in the Balance Sheet	(11,849)	(1,685)
Commodity \| NGLs (C5-Natural Gasoline) \| Collars
Derivative [Line Items]
Gross Amounts of Recognized Assets		221
Gross Amounts Offset in the Balance Sheet		(221)
Net Amounts of Assets Presented in the Balance Sheet		0
Gross Amounts of Recognized (Liabilities)	(5,481)	(1,493)
Gross Amounts Offset in the Balance Sheet	0	221
Net Amounts of (Liabilities) Presented in the Balance Sheet	$ (5,481)	(1,272)
Freight \| Swaps
Derivative [Line Items]
Gross Amounts of Recognized Assets		114
Gross Amounts Offset in the Balance Sheet		(81)
Net Amounts of Assets Presented in the Balance Sheet		33
Gross Amounts of Recognized (Liabilities)		0
Gross Amounts Offset in the Balance Sheet		81
Net Amounts of (Liabilities) Presented in the Balance Sheet		$ 81

Derivative Activities - Effects of Derivatives on Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative [Line Items]
Derivative Fair Value (Loss) Income	$ (939,057)	$ (57,879)
Contingent Consideration
Derivative [Line Items]
Derivative Fair Value (Loss) Income	8,120	3,930
Swaptions
Derivative [Line Items]
Derivative Fair Value (Loss) Income	(34,723)	2,657
Three Way Collars
Derivative [Line Items]
Derivative Fair Value (Loss) Income	(179,926)	873
Collars
Derivative [Line Items]
Derivative Fair Value (Loss) Income	(232,292)	(13,288)
Calls
Derivative [Line Items]
Derivative Fair Value (Loss) Income	(1,363)	(775)
Basis Swaps
Derivative [Line Items]
Derivative Fair Value (Loss) Income	22,515	2,155
Commodity \| Swaps
Derivative [Line Items]
Derivative Fair Value (Loss) Income	(521,355)	(52,764)
Freight \| Swaps
Derivative [Line Items]
Derivative Fair Value (Loss) Income	$ (33)	$ (667)

Fair Value Measurements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022 USD ($) Counterparty	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest and dividends	$ 115,000	$ 109,000
Mark-to-market gain (loss)	(4,300,000)	$ 2,000,000.0
Allowance for doubtful accounts on accounts receivable	$ 568,000		$ 568,000
Number of derivative counterparties \| Counterparty	15
Number of counter parties that are not participants in bank credit facility \| Counterparty	5
Counterparties not in Facility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Amount Receivable	$ 3,600,000
One Counterparty Not in Facility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Net derivative liability	1,600,000
Maximum \| North Louisiana \| Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Potential contractual payout of contingent consideration	$ 45,500,000
Measurement Input, Price Volatility \| Weighted Average
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Implied volatilities	56.00%
Measurement Input, Price Volatility \| Weighted Average \| Swaptions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Implied volatilities	36.00%
Measurement Input, Price Volatility \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Implied volatilities	44.00%
Measurement Input, Price Volatility \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Implied volatilities	77.00%

Fair Value Measurements - Reconciliation of the Beginning and Ending Balances for Derivative Instruments Classified as Level 3 in the Fair Value Hierarchy (Detail) - Fair Value, Inputs, Level 3 $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at December 31, 2020	$ (12,420)
Total losses included in earnings	(28,105)
Additions	(12,320)
Settlements	1,493
Transfers out of Level 3	0
Balance at September 30, 2021	$ (51,352)

Fair Value Measurements - Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($)

Mar. 31, 2022

Dec. 31, 2021

Assets:

$ 4,016,000

$ 17,699,000

Marketable securities

^[1]

71,184,000

69,606,000

Deferred compensation plan

(971,342,000)

(170,983,000)

Bank credit facility

^[2]

^[3]

(237,657,000)

(165,395,000)

Reported Value Measurement | Contingent Consideration

Assets:

Divestiture contingent consideration

34,760,000

26,640,000

Estimate of Fair Value Measurement

Assets:

4,016,000

17,699,000

Marketable securities

^[1]

71,184,000

69,606,000

Deferred compensation plan

(971,342,000)

(170,983,000)

Bank credit facility

^[2]

^[3]

(237,657,000)

(165,395,000)

Estimate of Fair Value Measurement | Contingent Consideration

Assets:

Divestiture contingent consideration

34,760,000

26,640,000

5.00% Senior Notes Due 2022 | Reported Value Measurement

5.00% Senior Notes Due 2022 | Estimate of Fair Value Measurement

^[2]

(169,589,000)

5.875% Senior Notes Due 2022 | Reported Value Measurement

^[2]

(169,628,000)

(171,488,000)

5.875% Senior Notes Due 2022 | Estimate of Fair Value Measurement

^[2]

(48,528,000)

5.00% Senior Notes Due 2023 | Reported Value Measurement

^[2]

(48,528,000)

(48,955,000)

5.00% Senior Notes Due 2023 | Estimate of Fair Value Measurement

^[2]

(532,335,000)

4.875% Senior Notes Due 2025 | Reported Value Measurement

^[2]

(536,769,000)

(543,471,000)

4.875% Senior Notes Due 2025 | Estimate of Fair Value Measurement

^[2]

(750,000,000)

9.25% Senior Notes Due 2026 | Reported Value Measurement

^[2]

(759,735,000)

(776,153,000)

9.25% Senior Notes Due 2026 | Estimate of Fair Value Measurement

^[2]

(850,000,000)

4.75% senior subordinated notes due 2020 | Reported Value Measurement

^[2]

(916,929,000)

4.75% senior subordinated notes due 2020 | Estimate of Fair Value Measurement

Subordinated debt

(500,000,000)

8.25% senior notes due 2029 | Reported Value Measurement

Subordinated debt

(496,795,000)

8.25% senior notes due 2029 | Estimate of Fair Value Measurement

^[2]

(600,000,000)

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

^[2]

$ (657,480,000)

$ (669,648,000)

[1]	Marketable securities, which are held in our deferred compensation plans, are actively traded on major exchanges.
[2]	The book value of our bank debt approximates fair value because of its floating rate structure. The fair value of our senior notes is based on end of period market quotes which are Level 2 inputs.
[3]	The fair value of our deferred compensation plan is updated to the closing price on the balance sheet date which is a Level 1 input.

Fair Value Measurements - Carrying Amounts and Fair Values of Financial Instruments (Parenthetical) (Detail)	Mar. 31, 2022	Jan. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
5.00% Senior Notes Due 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	5.00%		5.00%
5.875% Senior Notes Due 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	5.875%		5.875%	5.875%	5.875%
5.00% Senior Notes Due 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	5.00%		5.00%
4.875% Senior Notes Due 2025
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	4.875%		4.875%
9.25% Senior Notes Due 2026
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	9.25%	9.25%	9.25%
8.25% senior notes due 2029
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	8.25%		8.25%
4.75% senior subordinated notes due 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	4.75%		4.75%

Stock-based Compensation Plans - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022 Plans
Share-based Payment Arrangement [Abstract]
Active equity-based stock plans	2

Stock-based Compensation Plans - Allocation of Stock-Based Compensation by Functional Category (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 12,893	$ 10,568
Direct Operating Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	349	327
Brokered Natural Gas and Marketing Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	519	450
Exploration Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	452	386
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 11,573	$ 9,405

Stock-based Compensation Plans - Additional Information 1 (Detail) shares in Thousands	3 Months Ended
	Mar. 31, 2022 Award shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Equity Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Equity Awards \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	30.00%
Restricted Stock Equity Awards \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	40.00%
Performance Share
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of awards available for grant	3
Method of measuring cost of award	In first quarter 2021, our internal performance metrics were changed to focus on debt reduction and to include an environmental component. For shares granted in 2021, the performance conditions will be measured against internal metrics of Debt/EBITDAX (earnings before interest, taxes, depreciation, amortization and exploration expense) and emission intensity performance. In first quarter 2022, the performance conditions will be measured against internal metrics of net debt (total debt less cash on hand) and emission intensity performance.
Performance Share \| Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of share value each unit represents at grant date \| shares	1
Performance Based TSR - PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Number of awards available for grant	1
Performance Based TSR - PSUs \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout of shares granted	0.00%
Performance Based TSR - PSUs \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout of shares granted	200.00%
Performance-based PS-PSUs and RS-PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Number of awards available for grant	2

Stock-based Compensation Plans - Additional Information 2 (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, weighted average grant date fair value		$ 9.29
Vesting period	3 years
Restricted Stock Equity Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	1,380,660	2,300,000
Granted, weighted average grant date fair value	$ 18.47	$ 10.20
Vesting period	3 years
Stock-based compensation expense	$ 5.9	$ 5.2
Restricted Stock Liability Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	601,983	1,200,000
Granted, weighted average grant date fair value	$ 20.42
Stock-based compensation expense	$ 3.6	$ 2.9
Restricted Stock Liability Awards \| Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	602,000
Vesting period	3 years

Stock-based Compensation Plans - Restricted Stock and Restricted Stock Units Outstanding (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, weighted average grant date fair value		$ 9.29
Restricted Stock Equity Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Beginning Balance	2,674,777
Granted	1,380,660	2,300,000
Vested	(600,158)
Forfeited	(15,379)
Outstanding, Ending Balance	3,439,900
Outstanding, Beginning Balance, weighted average grant date fair value	$ 7.39
Granted, weighted average grant date fair value	18.47	$ 10.20
Vested and issued, weighted average grant date fair value	9.00
Forfeited, weighted average grant date fair value	9.63
Outstanding, Ending Balance, weighted average grant date fair value	$ 11.55
Restricted Stock Liability Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Beginning Balance	796,629
Granted	601,983	1,200,000
Vested	(299,862)
Forfeited	0
Outstanding, Ending Balance	1,098,750
Outstanding, Beginning Balance, weighted average grant date fair value	$ 6.49
Granted, weighted average grant date fair value	20.42
Vested and issued, weighted average grant date fair value	10.62
Forfeited, weighted average grant date fair value	0
Outstanding, Ending Balance, weighted average grant date fair value	$ 13.00

Stock-based Compensation Plans - Additional Information 3 (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Stock-based compensation (income) expense	$ 12,893,000	$ 10,568,000
Performance-based PS-PSUs and RS-PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Performance Share
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation (income) expense	$ 1,700,000	740,000
Performance Based TSR - PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Stock-based compensation expense	$ 773,000	$ 595,000

Stock-based Compensation Plans - Internal Performance Activities (Detail) - $ / shares

3 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Performance-based Internal Performance Awards

$ 9.29

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Outstanding, Beginning Balance

1,095,355

Granted

^[1]

153,089

Vested and issued

^[2]

(243,482)

Forfeited

Outstanding, Ending Balance

1,004,962

Outstanding, Beginning Balance, weighted average grant date fair value

$ 7.80

Vested and issued, weighted average grant date fair value

^[1]

20.38

^[2]

9.64

Forfeited, weighted average grant date fair value

Outstanding, Ending Balance, weighted average grant date fair value

$ 9.27

[1]	Amounts granted reflect the number of performance units granted; however, the actual payout of shares will be between zero and 200% depending on achievement of specifically identified performance targets. Units granted in first quarter 2022 were to our CEO, CFO and COO only.
[2]	For the awards issued during 2019, the aggregate payout was approximately 116% of target with a positive performance adjustment of 158,793 shares.

Stock-based Compensation Plans - Internal Performance Activities (Parenthetical) (Detail) - Performance-based PS-PSUs and RS-PSUs

3 Months Ended

Mar. 31, 2022

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares vested and issued related to performance period number of common stock

243,482

^[1]

March 2019 Grant

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Actual payout of shares

116.00%

Shares vested and issued related to performance period number of common stock

158,793

Minimum

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Potential payout of shares granted

0.00%

Maximum

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Potential payout of shares granted

200.00%

[1]	For the awards issued during 2019, the aggregate payout was approximately 116% of target with a positive performance adjustment of 158,793 shares.

Stock-based Compensation Plans - Valuation Assumptions for Grant Date Fair Value of Performance Awards (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value per unit		$ 9.29
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	1.40%	0.20%
Expected annual volatility	68.00%	75.00%
Grant date fair value per unit	$ 27.90	$ 12.58

Stock-based Compensation Plans - TSR - PSUs Activities (Detail) - $ / shares

3 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Summary of Performance Share Unit Awards outstanding, Weighted Average Grant Date Fair Value

Performance Based TSR - PSUs

$ 9.29

Summary of Performance Share Unit Awards outstanding, Number of Units

Outstanding, Beginning Balance

1,147,994

Granted

^[1]

111,828

Vested and issued

^[2]

(314,152)

Forfeited

Outstanding, Ending Balance

945,670

Summary of Performance Share Unit Awards outstanding, Weighted Average Grant Date Fair Value

Outstanding, Beginning Balance, weighted average grant date fair value

$ 7.60