XML 16 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Total revenues $ 1,180,560 $ 1,260,680 $ 2,395,606 $ 2,345,940
Operating expenses        
Lease operating expenses 256,966 176,647 490,040 335,853
Gathering, processing and transportation expenses 74,100 63,130 147,415 117,114
Production taxes 68,965 79,522 143,607 143,433
Depreciation, depletion and amortization 376,997 227,928 726,806 396,822
General and administrative expenses 32,540 82,077 70,917 107,789
Total operating expenses 1,583,253 987,145 2,465,821 1,800,768
Gain (loss) on sale of assets, net (522) 15,486 4,993 16,788
Operating income (loss) (403,215) 289,021 (65,222) 561,960
Other income (expense)        
Net gain (loss) on derivative instruments 82,231 4,608 61,950 (22,969)
Net gain (loss) from investment in unconsolidated affiliate (962) 5,862 (5,862) 22,158
Interest expense, net of capitalized interest (18,788) (12,208) (34,606) (19,800)
Loss on debt extinguishment 0 0 (3,494) 0
Other income 5,045 4,081 4,546 6,907
Total other income (expense), net 67,526 2,343 22,534 (13,704)
Income (loss) before income taxes (335,689) 291,364 (42,688) 548,256
Income tax expense (54,216) (78,003) (127,380) (135,541)
Net income (loss) $ (389,905) $ 213,361 $ (170,068) $ 412,715
Earnings (loss) per share (Note 15):        
Basic (in dollars per share) $ (6.71) $ 4.36 $ (2.89) $ 9.12
Diluted (in dollars per share) $ (6.77) $ 4.25 $ (2.93) $ 8.87
Weighted average shares outstanding:        
Basic (in shares) 57,786 48,665 58,420 45,048
Diluted (in shares) 57,786 49,916 58,501 46,313
Oil, NGL and gas revenues        
Revenues        
Total revenues $ 950,266 $ 902,667 $ 2,053,690 $ 1,650,829
Operating expenses        
Impairment and exploration 541,940 1,485 543,923 7,639
Purchased oil and gas sales        
Revenues        
Total revenues 230,294 358,013 341,916 695,111
Operating expenses        
Purchased oil and gas expenses $ 231,745 $ 356,356 $ 343,113 $ 692,118