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v3.26.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Reportable segment results for the three months ended March 31, 2026 are:
|  |  | For the Three Months Ended March 31, 2026 |  |  |  |  |  |  |  |  |
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 662,900 |  |  | $ | 58,761 |  |  | $ | 383 |  |  | $ | 722,044 |  |  |  |  |  |  |  |  |  | (A)
(Loss) Gain on Commodity Derivative Instruments |  |  | (208,340) |  |  | (13,197) |  |  | 225,518 |  |  | 3,981 |  |  |  |  |  |  |  |  |  |
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 12,687 |  |  | 12,687 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 16,369 |  |  | — |  |  | 31,573 |  |  | 47,942 |  |  |  |  |  |  |  |  |  | (B)
Total Revenue and Other Operating Income |  |  | $ | 470,929 |  |  | $ | 45,564 |  |  | $ | 270,161 |  |  | $ | 786,654 |  |  |  |  |  |  |  |  |  |
Lease Operating Expense |  |  | 15,542 |  |  | 6,026 |  |  | 202 |  |  | 21,770 |  |  |  |  |  |  |  |  |  |
Transportation, Gathering and Compression |  |  | 86,776 |  |  | 15,995 |  |  | (370) |  |  | 102,401 |  |  |  |  |  |  |  |  |  |
Production, Ad Valorem, and Other Fees |  |  | 6,564 |  |  | 2,212 |  |  | 13 |  |  | 8,789 |  |  |  |  |  |  |  |  |  |
Depreciation, Depletion and Amortization |  |  | 112,964 |  |  | 14,416 |  |  | 7,233 |  |  | 134,613 |  |  |  |  |  |  |  |  |  |
Interest Expense |  |  | — |  |  | — |  |  | 40,470 |  |  | 40,470 |  |  |  |  |  |  |  |  |  |
Other Segment Items |  |  | — |  |  | — |  |  | 50,206 |  |  | 50,206 |  |  |  |  |  |  |  |  |  |
Total Costs and Expenses |  |  | $ | 221,846 |  |  | $ | 38,649 |  |  | $ | 97,754 |  |  | $ | 358,249 |  |  |  |  |  |  |  |  |  |
Income Before Income Tax |  |  | $ | 249,083 |  |  | $ | 6,915 |  |  | $ | 172,407 |  |  | $ | 428,405 |  |  |  |  |  |  |  |  |  |
(A) Included in Natural Gas, NGLs and Oil Revenue are sales of $156,014 to NRG Business Marketing LLC and $83,346 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 $16,369 and equity in loss of unconsolidated affiliates of $463 for Shale and Other, respectively. Other also includes sales of environmental attributes of $14,940.
|  |  | For the Three Months Ended March 31, 2026 |  |  |  |  |  |  |  |  |
Other Segment Disclosures |  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 7,268,317 |  |  | $ | 894,991 |  |  | $ | 967,875 |  |  | $ | 9,131,183 |  |  |  |  |  |  |  |  |  | (C)
Capital Expenditures |  |  | $ | 163,420 |  |  | $ | 5,400 |  |  | $ | 1,086 |  |  | $ | 169,906 |  |  |  |  |  |  |  |  |  |
(C) Includes investments in unconsolidated equity affiliates of $5,810.
Reportable segment results for the three months ended March 31, 2025 are:
|  |  | For the Three Months Ended March 31, 2025 |  |  |  |  |  |  |  |  |
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 507,555 |  |  | $ | 43,278 |  |  | $ | 261 |  |  | $ | 551,094 |  |  |  |  |  |  |  |  |  | (D)
Loss on Commodity Derivative Instruments |  |  | (102,700) |  |  | (6,953) |  |  | (418,567) |  |  | (528,220) |  |  |  |  |  |  |  |  |  |
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 11,550 |  |  | 11,550 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 16,838 |  |  | — |  |  | 31,126 |  |  | 47,964 |  |  |  |  |  |  |  |  |  | (E)
Total Revenue and Other Operating Income (Loss) |  |  | $ | 421,693 |  |  | $ | 36,325 |  |  | $ | (375,630) |  |  | $ | 82,388 |  |  |  |  |  |  |  |  |  |
Lease Operating Expense |  |  | 17,219 |  |  | 5,969 |  |  | 145 |  |  | 23,333 |  |  |  |  |  |  |  |  |  |
Transportation, Gathering and Compression |  |  | 78,050 |  |  | 16,783 |  |  | 326 |  |  | 95,159 |  |  |  |  |  |  |  |  |  |
Production, Ad Valorem, and Other Fees |  |  | 5,500 |  |  | 1,766 |  |  | 7 |  |  | 7,273 |  |  |  |  |  |  |  |  |  |
Depreciation, Depletion and Amortization |  |  | 106,360 |  |  | 13,812 |  |  | 6,890 |  |  | 127,062 |  |  |  |  |  |  |  |  |  |
Interest Expense |  |  | — |  |  | — |  |  | 41,612 |  |  | 41,612 |  |  |  |  |  |  |  |  |  |
Other Segment Items |  |  | — |  |  | — |  |  | 60,748 |  |  | 60,748 |  |  |  |  |  |  |  |  |  |
Total Costs and Expenses |  |  | $ | 207,129 |  |  | $ | 38,330 |  |  | $ | 109,728 |  |  | $ | 355,187 |  |  |  |  |  |  |  |  |  |
Income (Loss) Before Income Tax |  |  | $ | 214,564 |  |  | $ | (2,005) |  |  | $ | (485,358) |  |  | $ | (272,799) |  |  |  |  |  |  |  |  |  |
(D) Included in Natural Gas, NGLs and Oil Revenue are sales of $64,800 to Citadel Energy Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(E) Includes midstream revenue of $16,838 and equity in loss of unconsolidated affiliates of $58 for Shale and Other, respectively. Other also includes sales of environmental attributes of $22,886.
|  |  | For the Three Months Ended March 31, 2025 |  |  |  |  |  |  |  |  |
Other Segment Disclosures |  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 7,190,127 |  |  | $ | 909,369 |  |  | $ | 947,213 |  |  | $ | 9,046,709 |  |  |  |  |  |  |  |  |  | (F)
Capital Expenditures |  |  | $ | 127,679 |  |  | $ | 2,743 |  |  | $ | 1,043 |  |  | $ | 131,465 |  |  |  |  |  |  |  |  |  |
(F) Includes investments in unconsolidated equity affiliates of $18,323.
Schedule of Reconciliation of Revenue from Segments to Consolidated | R evenue and Other Operating Income:
|  |  | For the Three Months Ended March 31,
|  |  |  | 2026 |  | 2025
Total Segment Revenue from Contracts with External Customers |  |  |  |  | $ | 751,100 |  |  | $ | 579,482 |
Gain (Loss) on Commodity Derivative Instruments |  |  |  |  | 3,981 |  |  | (528,220) |
Other Operating Income |  |  |  |  | 31,573 |  |  | 31,126 |
Total Consolidated Revenue and Other Operating Income |  |  |  |  | $ | 786,654 |  |  | $ | 82,388 |

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