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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 36,950 $ 317,998
Accounts receivable, net 1,298,973 943,114
Inventory 94,299 72,565
Prepaid expenses 30,875 42,450
Derivative instruments 35,944 37,369
Other current assets 82,077 11,055
Total current assets 1,579,118 1,424,551
Property, plant and equipment    
Oil and gas properties (successful efforts method) 12,770,786 6,320,243
Other property and equipment 58,158 49,051
Less: accumulated depreciation, depletion and amortization (2,142,775) (1,054,616)
Total property, plant and equipment, net 10,686,169 5,314,678
Derivative instruments 5,629 22,526
Investment in unconsolidated affiliate 142,201 100,172
Long-term inventory 25,973 22,936
Operating right-of-use assets 38,004 21,343
Goodwill 530,616 0
Other assets 24,297 19,944
Total assets 13,032,007 6,926,150
Current liabilities    
Accounts payable 68,751 34,453
Revenues and production taxes payable 752,742 604,704
Accrued liabilities 732,296 493,381
Accrued interest payable 4,693 2,157
Derivative instruments 1,230 14,209
Advances from joint interest partners 2,434 2,381
Current operating lease liabilities 37,629 13,258
Other current liabilities 84,203 916
Total current liabilities 1,683,978 1,165,459
Long-term debt 842,600 395,902
Deferred tax liabilities 1,496,442 95,322
Asset retirement obligations 282,369 155,040
Derivative instruments 1,016 717
Operating lease liabilities 15,190 18,667
Other liabilities 8,150 18,419
Total liabilities 4,329,745 1,849,526
Commitments and contingencies
Stockholders’ equity    
Common stock, $0.01 par value: 240,000,000 shares authorized, 66,967,779 shares issued and 60,070,893 shares outstanding at December 31, 2024; and 120,000,000 shares authorized, 45,032,537 shares issued and 41,249,658 shares outstanding at December 31, 2023 673 456
Treasury stock, at cost: 6,896,886 shares at December 31, 2024 and 3,782,879 shares at December 31, 2023 (936,157) (493,289)
Additional paid-in capital 7,336,091 3,608,819
Retained earnings 2,301,655 1,960,638
Total stockholders’ equity 8,702,262 5,076,624
Total liabilities and stockholders’ equity $ 13,032,007 $ 6,926,150