Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Income tax expenses and benefits included in the Consolidated Statements of Operations are detailed below:
 
Year Ended December 31,
(in thousands)
2019
 
2018
 
2017
Current taxes
 
 
 
 
 
Federal
$
—

 
$
—

 
$
—

State
—

 
—

 
—

 
—

 
—

 
—

Deferred taxes
 
 
 
 
 
Federal
(5,396
)
 
(56,365
)
 
(26,713
)
State
(401
)
 
(3,075
)
 
(3,217
)
 
(5,797
)
 
(59,440
)
 
(29,930
)
 
 
 
 
 
 
Income tax benefit (expense)
$
(5,797
)
 
$
(59,440
)
 
$
(29,930
)
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the statutory federal income tax expense, which is calculated at the federal statutory rate of 21% in 2019 and 2018 and 35% in 2017, to the income tax expense from continuing operations provided for the periods presented, is as follows:
 
Year Ended December 31,
(in thousands)
2019
 
2018
 
2017
Income tax expense at the federal statutory rate
$
(4,646
)
 
$
(57,157
)
 
$
(39,720
)
State income tax expense - net of federal income tax benefits
(401
)
 
(3,075
)
 
(2,788
)
Change in Federal tax rate (net of state benefit)
—

 
—

 
4,425

Noncontrolling interest in partnership
129

 
2,696

 
2,795

Equity based compensation
(780
)
 
(1,825
)
 
241

Nondeductible expenses
(99
)
 
(79
)
 
(31
)
Change in valuation allowance
—

 
—

 
5,148

Income tax benefit (expense)
$
(5,797
)
 
$
(59,440
)
 
$
(29,930
)
Schedule of Deferred Tax Assets and Liabilities
The tax effects of temporary differences that give rise to significant positions of the deferred income tax assets and liabilities are presented below:
(in thousands)
December 31, 2019
 
December 31, 2018
Deferred tax assets:
 
 
 
Net operating loss carryforwards
$
88,043

 
$
87,196

Capitalized intangible drilling cost
100,307

 
29,159

Interest expense
18,722

 
6,023

Equity-based compensation
8,284

 
3,366

Other assets
295

 
282

Total deferred tax assets
215,651

 
126,026

Deferred tax liabilities:
 
 
 
Investment in CRP
(301,155
)
 
(188,193
)
 
 
 
 
Net deferred tax asset (liability)
$
(85,504
)
 
$
(62,167
)