7.Leases

In the normal course of business, we enter into operating lease agreements to support our operations. Our leased assets include right-of-way easements for our wells and facilities, office space and other assets. We currently have no finance leases.

Balance Sheet Information

The following table provides supplemental consolidated balance sheet information related to leases:

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The increase in our Right-of-Use Assets and related lease liabilities from December 31, 2022 is primarily related to our new corporate office space operating lease, which commenced during the three months ended September 30, 2023. The new office lease resulted in the recognition of a Right-of-Use Asset of $7.7 million, a Current Lease Liability of $0.3 million and a Noncurrent Lease Liability of $6.4 million, which are included in the consolidated balance sheet as of September 30, 2023.

Statement of Operations Information

The following table provides the components of lease cost, excluding lease cost related to short-term leases:

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Short-Term Leases

Our short-term lease cost, which consisted primarily of field equipment rentals, totaled $5.3 million and $3.9 million for the three months ended September 30, 2023 and 2022, respectively, and $12.6 million and $7.7 million for the nine months ended September 30, 2023 and 2022, respectively.

Cash Flow Information

The following table summarizes supplemental cash flow information related to leases:

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Lease Terms and Discount Rates

The following table provides lease terms and discount rates related to leases:

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Annual Lease Maturities

The following table provides maturities of lease liabilities at September 30, 2023:

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