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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Total revenues $ 1,260,680 $ 912,071 $ 2,345,940 $ 1,808,588
Operating expenses        
Lease operating expenses 176,647 158,554 335,853 311,962
Gathering, processing and transportation expenses 63,130 43,397 117,114 80,412
Production taxes 79,522 58,488 143,433 119,005
Depreciation, depletion and amortization 227,928 137,046 396,822 270,837
General and administrative expenses 82,077 42,174 107,789 74,658
Total operating expenses 987,145 662,667 1,800,768 1,234,339
Gain on sale of assets, net 15,486 1,613 16,788 2,840
Operating income 289,021 251,017 561,960 577,089
Other income (expense)        
Net gain (loss) on derivative instruments 4,608 29,518 (22,969) 96,452
Net gain from investment in unconsolidated affiliate 5,862 10,126 22,158 7,910
Interest expense, net of capitalized interest (12,208) (7,228) (19,800) (14,363)
Other income 4,081 2,293 6,907 7,486
Total other income (expense), net 2,343 34,709 (13,704) 97,485
Income before income taxes 291,364 285,726 548,256 674,574
Income tax expense (78,003) (69,655) (135,541) (161,504)
Net income $ 213,361 $ 216,071 $ 412,715 $ 513,070
Earnings per share:        
Basic (in dollars per share) $ 4.36 $ 5.19 $ 9.12 $ 12.32
Diluted (in dollars per share) $ 4.25 $ 4.96 $ 8.87 $ 11.83
Weighted average shares outstanding:        
Basic (in shares) 48,665 41,494 45,048 41,531
Diluted (in shares) 49,916 43,386 46,313 43,267
Oil, NGL and gas revenues        
Revenues        
Total revenues $ 902,667 $ 695,426 $ 1,650,829 $ 1,461,626
Operating expenses        
Exploration and impairment 1,485 6,782 7,639 31,646
Purchased oil and gas sales        
Revenues        
Total revenues 358,013 216,645 695,111 346,962
Operating expenses        
Purchased oil and gas expenses $ 356,356 $ 216,226 $ 692,118 $ 345,819