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SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Industry Segment Results | Reportable segment results for the three months ended June 30, 2025 are:
|  |  | For the Three Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 451,618 |  |  | $ | 33,180 |  |  | $ | 231 |  |  | $ | 485,029 |  |  |  |  |  |  |  |  |  | (A)
(Loss) Gain on Commodity Derivative Instruments |  |  | (33,256) |  |  | (2,133) |  |  | 456,510 |  |  | 421,121 |  |  |  |  |  |  |  |  |  |
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 10,408 |  |  | 10,408 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 17,432 |  |  | — |  |  | 28,432 |  |  | 45,864 |  |  |  |  |  |  |  |  |  | (B)
Total Revenue and Other Operating Income |  |  | $ | 435,794 |  |  | $ | 31,047 |  |  | $ | 495,581 |  |  | $ | 962,422 |  |  |  |  |  |  |  |  |  |
Lease Operating Expense |  |  | 20,214 |  |  | 6,016 |  |  | 26 |  |  | 26,256 |  |  |  |  |  |  |  |  |  |
Transportation, Gathering and Compression |  |  | 80,049 |  |  | 16,327 |  |  | 577 |  |  | 96,953 |  |  |  |  |  |  |  |  |  |
Production, Ad Valorem, and Other Fees |  |  | 8,209 |  |  | 1,452 |  |  | 7 |  |  | 9,668 |  |  |  |  |  |  |  |  |  |
Depreciation, Depletion and Amortization |  |  | 131,268 |  |  | 14,806 |  |  | 6,521 |  |  | 152,595 |  |  |  |  |  |  |  |  |  |
Interest Expense |  |  | — |  |  | — |  |  | 44,041 |  |  | 44,041 |  |  |  |  |  |  |  |  |  |
Other Segment Items |  |  | — |  |  | — |  |  | 47,268 |  |  | 47,268 |  |  |  |  |  |  |  |  |  |
Total Costs and Expenses |  |  | $ | 239,740 |  |  | $ | 38,601 |  |  | $ | 98,440 |  |  | $ | 376,781 |  |  |  |  |  |  |  |  |  |
Income (Loss) Before Income Tax |  |  | $ | 196,054 |  |  | $ | (7,554) |  |  | $ | 397,141 |  |  | $ | 585,641 |  |  |  |  |  |  |  |  |  |
(A) Included in Natural Gas, NGLs and Oil Revenue are sales of $59,948 to Citadel Energy Marketing LLC, $58,792 to NRG Business Marketing LLC, and $56,365 to DTE Energy Trading, Inc., each of which comprises over 10% of revenue from contracts with external customers for the period.
(B) Includes midstream revenue of $17,432 and equity in earnings of unconsolidated affiliates of $605 for Shale and Other, respectively. Other also includes sales of environmental attributes of $20,400.
|  |  | For the Three Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |
Other Segment Disclosures |  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 7,143,060 |  |  | $ | 923,635 |  |  | $ | 921,172 |  |  | $ | 8,987,867 |  |  |  |  |  |  |  |  |  | (C)
Capital Expenditures |  |  | $ | 85,556 |  |  | $ | 26,505 |  |  | $ | 1,504 |  |  | $ | 113,565 |  |  |  |  |  |  |  |  |  |
(C) Includes investments in unconsolidated equity affiliates of $19,178.
Reportable segment results for the three months ended June 30, 2024 are:
|  |  | For the Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 215,598 |  |  | $ | 20,485 |  |  | $ | 150 |  |  | $ | 236,233 |  |  |  |  |  |  |  |  |  | (D)
Gain (Loss) on Commodity Derivative Instruments |  |  | 101,919 |  |  | 8,115 |  |  | (95,939) |  |  | 14,095 |  |  |  |  |  |  |  |  |  |
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 11,029 |  |  | 11,029 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 16,441 |  |  | — |  |  | 43,645 |  |  | 60,086 |  |  |  |  |  |  |  |  |  | (E)
Total Revenue and Other Operating Income (Loss) |  |  | $ | 333,958 |  |  | $ | 28,600 |  |  | $ | (41,115) |  |  | $ | 321,443 |  |  |  |  |  |  |  |  |  |
Lease Operating Expense |  |  | 12,309 |  |  | 5,363 |  |  | 147 |  |  | 17,819 |  |  |  |  |  |  |  |  |  |
Transportation, Gathering and Compression |  |  | 75,486 |  |  | 15,979 |  |  | 244 |  |  | 91,709 |  |  |  |  |  |  |  |  |  |
Production, Ad Valorem, and Other Fees |  |  | 5,411 |  |  | 1,213 |  |  | 14 |  |  | 6,638 |  |  |  |  |  |  |  |  |  |
Depreciation, Depletion and Amortization |  |  | 97,909 |  |  | 14,588 |  |  | 5,044 |  |  | 117,541 |  |  |  |  |  |  |  |  |  |
Interest Expense |  |  | — |  |  | — |  |  | 38,634 |  |  | 38,634 |  |  |  |  |  |  |  |  |  |
Other Segment Items |  |  | — |  |  | — |  |  | 64,345 |  |  | 64,345 |  |  |  |  |  |  |  |  |  |
Total Costs and Expenses |  |  | $ | 191,115 |  |  | $ | 37,143 |  |  | $ | 108,428 |  |  | $ | 336,686 |  |  |  |  |  |  |  |  |  |
Income (Loss) Before Income Tax |  |  | $ | 142,843 |  |  | $ | (8,543) |  |  | $ | (149,543) |  |  | $ | (15,243) |  |  |  |  |  |  |  |  |  |
(D) Included in Natural Gas, NGLs and Oil Revenue are sales of $28,684 to Citadel Energy Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(E) Includes midstream revenue of $16,441 and equity in loss of unconsolidated affiliates of $227 for Shale and Other, respectively. Other also includes sales of environmental attributes of $32,877.
|  |  | For the Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |
Other Segment Disclosures |  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 6,676,756 |  |  | $ | 939,831 |  |  | $ | 986,367 |  |  | $ | 8,602,954 |  |  |  |  |  |  |  |  |  | (F)
Capital Expenditures |  |  | $ | 138,917 |  |  | $ | 7,760 |  |  | $ | 5,239 |  |  | $ | 151,916 |  |  |  |  |  |  |  |  |  |
(F) Includes investments in unconsolidated equity affiliates of $15,394.
Reportable segment results for the six months ended June 30, 2025 are:
|  |  | For the Six Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 959,173 |  |  | $ | 76,458 |  |  | $ | 492 |  |  | $ | 1,036,123 |  |  |  |  |  |  |  |  |  | (G)
(Loss) Gain on Commodity Derivative Instruments |  |  | (135,956) |  |  | (9,086) |  |  | 37,943 |  |  | (107,099) |  |  |  |  |  |  |  |  |  |
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 21,959 |  |  | 21,959 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 34,270 |  |  | — |  |  | 59,558 |  |  | 93,828 |  |  |  |  |  |  |  |  |  | (H)
Total Revenue and Other Operating Income |  |  | $ | 857,487 |  |  | $ | 67,372 |  |  | $ | 119,952 |  |  | $ | 1,044,811 |  |  |  |  |  |  |  |  |  |
Lease Operating Expense |  |  | 37,433 |  |  | 11,985 |  |  | 170 |  |  | 49,588 |  |  |  |  |  |  |  |  |  |
Transportation, Gathering and Compression |  |  | 158,099 |  |  | 33,110 |  |  | 903 |  |  | 192,112 |  |  |  |  |  |  |  |  |  |
Production, Ad Valorem, and Other Fees |  |  | 13,709 |  |  | 3,218 |  |  | 14 |  |  | 16,941 |  |  |  |  |  |  |  |  |  |
Depreciation, Depletion and Amortization |  |  | 237,628 |  |  | 28,618 |  |  | 13,411 |  |  | 279,657 |  |  |  |  |  |  |  |  |  |
Interest Expense |  |  | — |  |  | — |  |  | 85,652 |  |  | 85,652 |  |  |  |  |  |  |  |  |  |
Other Segment Items |  |  | — |  |  | — |  |  | 108,019 |  |  | 108,019 |  |  |  |  |  |  |  |  |  |
Total Costs and Expenses |  |  | $ | 446,869 |  |  | $ | 76,931 |  |  | $ | 208,169 |  |  | $ | 731,969 |  |  |  |  |  |  |  |  |  |
Income (Loss) Before Income Tax |  |  | $ | 410,618 |  |  | $ | (9,559) |  |  | $ | (88,217) |  |  | $ | 312,842 |  |  |  |  |  |  |  |  |  |
(G) Included in Natural Gas, NGLs and Oil Revenue are sales of $124,748 to Citadel Energy Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(H) Includes midstream revenue of $34,270 and equity in earnings of unconsolidated affiliates of $548 for Shale and Other, respectively. Other also includes sales of environmental attributes of $43,285.
|  |  | For the Six Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |
Other Segment Disclosures |  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 7,143,060 |  |  | $ | 923,635 |  |  | $ | 921,172 |  |  | $ | 8,987,867 |  |  |  |  |  |  |  |  |  | (I)
Capital Expenditures |  |  | $ | 213,235 |  |  | $ | 29,248 |  |  | $ | 2,547 |  |  | $ | 245,030 |  |  |  |  |  |  |  |  |  |
(I) Includes investments in unconsolidated equity affiliates of $19,178.
Reportable segment results for the six months ended June 30, 2024 are:
|  |  | For the Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 508,360 |  |  | $ | 53,348 |  |  | $ | 497 |  |  | $ | 562,205 |  |  |  |  |  |  |  |  |  | (J)
Gain (Loss) on Commodity Derivative Instruments |  |  | 152,698 |  |  | 11,961 |  |  | (143,036) |  |  | 21,623 |  |  |  |  |  |  |  |  |  |
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 25,306 |  |  | 25,306 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 32,335 |  |  | — |  |  | 64,526 |  |  | 96,861 |  |  |  |  |  |  |  |  |  | (K)
Total Revenue and Other Operating Income (Loss) |  |  | $ | 693,393 |  |  | $ | 65,309 |  |  | $ | (52,707) |  |  | $ | 705,995 |  |  |  |  |  |  |  |  |  |
Lease Operating Expense |  |  | 24,478 |  |  | 10,738 |  |  | 329 |  |  | 35,545 |  |  |  |  |  |  |  |  |  |
Transportation, Gathering and Compression |  |  | 156,012 |  |  | 31,661 |  |  | 686 |  |  | 188,359 |  |  |  |  |  |  |  |  |  |
Production, Ad Valorem, and Other Fees |  |  | 11,345 |  |  | 2,888 |  |  | 30 |  |  | 14,263 |  |  |  |  |  |  |  |  |  |
Depreciation, Depletion and Amortization |  |  | 197,386 |  |  | 28,860 |  |  | 9,945 |  |  | 236,191 |  |  |  |  |  |  |  |  |  |
Interest Expense |  |  | — |  |  | — |  |  | 76,075 |  |  | 76,075 |  |  |  |  |  |  |  |  |  |
Other Segment Items |  |  | — |  |  | — |  |  | 164,486 |  |  | 164,486 |  |  |  |  |  |  |  |  |  |
Total Costs and Expenses |  |  | $ | 389,221 |  |  | $ | 74,147 |  |  | $ | 251,551 |  |  | $ | 714,919 |  |  |  |  |  |  |  |  |  |
Income (Loss) Before Income Tax |  |  | $ | 304,172 |  |  | $ | (8,838) |  |  | $ | (304,258) |  |  | $ | (8,924) |  |  |  |  |  |  |  |  |  |
(J) Included in Natural Gas, NGLs and Oil Revenue are sales of $67,854 to NRG Business Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(K) Includes midstream revenue of $32,335 and equity in loss of unconsolidated affiliates of $477 for Shale and Other, respectively. Other also includes sales of environmental attributes of $45,646.
|  |  | For the Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |
Other Segment Disclosures |  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 6,676,756 |  |  | $ | 939,831 |  |  | $ | 986,367 |  |  | $ | 8,602,954 |  |  |  |  |  |  |  |  |  | (L)
Capital Expenditures |  |  | $ | 291,791 |  |  | $ | 16,428 |  |  | $ | 11,881 |  |  | $ | 320,100 |  |  |  |  |  |  |  |  |  |
(L) Includes investments in unconsolidated equity affiliates of $15,394.
Schedule of Reconciliation of Revenue and Other Operating (Loss) Income from Segments to Consolidated | R evenue and Other Operating Income:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
2025 |  | 2024 |  | 2025 |  | 2024
Total Segment Revenue from Contracts with External Customers | $ | 512,869 |  |  | $ | 263,703 |  |  | $ | 1,092,352 |  |  | $ | 619,846 |
Gain (Loss) on Commodity Derivative Instruments | 421,121 |  |  | 14,095 |  |  | (107,099) |  |  | 21,623 |
Other Operating Income | 28,432 |  |  | 43,645 |  |  | 59,558 |  |  | 64,526 |
Total Consolidated Revenue and Other Operating Income | $ | 962,422 |  |  | $ | 321,443 |  |  | $ | 1,044,811 |  |  | $ | 705,995 |

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