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Supplemental Oil and Gas Disclosures - Unaudited | 12 Months Ended
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Dec. 31, 2024
Oil and Gas Disclosure [Abstract] |
Supplemental Oil and Gas Disclosures - Unaudited | Supplemental Oil and Gas Disclosures — Unaudited The supplemental data presented below reflects information for all of the Company’s oil and gas producing activities. Prior periods have not been recast for discontinued operations. Capitalized Costs The following table sets forth the capitalized costs related to the Company’s oil and gas producing activities:
| December 31,
| 2024 |  | 2023
| (In thousands)
Proved oil and gas properties | $ | 11,923,792 |  |  | $ | 6,220,766 |
Less: Accumulated depletion and impairment | (2,115,428) |  |  | (1,035,393) |
Proved oil and gas properties, net | 9,808,364 |  |  | 5,185,373 |
Unproved oil and gas properties | 846,994 |  |  | 99,477 |
Total oil and gas properties, net | $ | 10,655,358 |  |  | $ | 5,284,850 |
Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities The following table sets forth costs incurred related to the Company’s oil and gas activities for the periods presented:
| Year Ended December 31, |  |  |
| 2024 |  | 2023 |  | 2022 |  |
| (In thousands)
Acquisition costs: |  |  |  |  |  |  |  |
Proved oil and gas properties | $ | 4,346,811 |  |  | $ | 178,629 |  |  | $ | 3,164,665 |  |  |  |
Unproved oil and gas properties | 928,789 |  |  | 185,392 |  |  | 43,084 |  |  |  |
Exploration costs | 8,285 |  |  | 6,366 |  |  | 859 |  |  |  |
Development costs(1) | 1,236,794 |  |  | 940,967 |  |  | 529,126 |  |  |  |
Total costs incurred | $ | 6,520,679 |  |  | $ | 1,311,354 |  |  | $ | 3,737,734 |  |  |  |
___________________ (1)Development costs include non-cash upward adjustments to oil and gas properties of $6.1 million, $18.5 million and $21.2 million for the years ended December 31, 2024, 2023 and 2022, respectively, which relate to estimated future plugging and abandonment costs of the Company’s oil and gas wells. Results of Operations for Oil and Gas Producing Activities The following table sets forth the results of operations for oil and gas producing activities, which exclude general and administrative expenses and interest expense, for the periods presented:
| Year Ended December 31, |  |  |
| 2024 |  | 2023 |  | 2022 |  |
| (In thousands)
Revenues | $ | 3,836,138 |  |  | $ | 3,132,411 |  |  | $ | 2,976,296 |  |  |  |
Production costs | 1,425,364 |  |  | 1,099,159 |  |  | 814,588 |  |  |  |
Depreciation, depletion and amortization | 1,081,575 |  |  | 582,127 |  |  | 354,050 |  |  |  |
Exploration and impairment | 14,570 |  |  | 17,830 |  |  | 2,204 |  |  |  |
Income tax expense | 309,069 |  |  | 335,534 |  |  | 426,087 |  |  |  |
Results of operations for oil and gas producing activities | $ | 1,005,560 |  |  | $ | 1,097,761 |  |  | $ | 1,379,367 |  |  |  |

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- Definition The entire disclosure for properties used in normal conduct of oil and gas exploration and producing operations. This disclosure may include property accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/932-360/tableOfContent + Details
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