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Supplemental Oil and Gas Disclosures - Unaudited

12 Months Ended

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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- References

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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

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