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Segment Reporting | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting Disclosure | Note 11 – Segment Reporting The Company’s operations are all related to the exploration, development, and production of oil, gas, and NGLs in the United States, from which the Company derives all of its revenue. The nature of the production process, the types of purchasers, and the regulatory environment under which the Company operates are consistent across the Company. Additionally, for financial reporting purposes related to oil and gas extraction activities, the United States is considered to be one geographic area. As a result of these factors, the Company has one reportable segment: the oil, gas, and NGL exploration and production segment (“E&P Segment”). The E&P Segment constitutes all of the consolidated entity and the accompanying consolidated financial statements and the notes to the accompanying consolidated financial statements are representative of such amounts for the E&P Segment. The accounting policies of the E&P Segment are the same as those described in Note 1 – Summary of Significant Accounting Policies. The Company’s Chief Operating Decision Maker (“CODM”) is the President and Chief Executive Officer. The CODM uses net income as presented on the accompanying statements of operations to measure E&P Segment profit or loss, and to evaluate income generated from E&P Segment assets in deciding whether to reinvest profits into operational activities or to use profits for other purposes, such as debt reduction, acquisitions, or the Company’s Stock Repurchase Program. Additionally, net income is used in assessing budget versus actual results and in benchmarking to the Company’s competitors. Segment Revenue, Significant Expenses, and Net Income
|  | For the Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (in thousands)
Total operating revenues and other income |  | $ | 2,690,259 |  |  | $ | 2,373,886 |  |  | $ | 3,358,647 |
Less: |  |  |  |  |  |
Lease operating expense |  | 318,987 |  |  | 284,790 |  |  | 266,527 |
Transportation costs |  | 167,121 |  |  | 136,237 |  |  | 150,049 |
Production taxes |  | 115,973 |  |  | 105,134 |  |  | 162,629 |
Ad valorem tax expense |  | 34,890 |  |  | 37,382 |  |  | 41,707 |
Depletion, depreciation, and amortization |  | 809,305 |  |  | 690,481 |  |  | 603,780 |
Exploration |  | 64,121 |  |  | 59,480 |  |  | 54,943 |
General and administrative |  | 138,344 |  |  | 121,063 |  |  | 114,558 |
Net derivative (gain) loss |  | (49,958) |  |  | (68,154) |  |  | 374,012 |
Other operating expense, net |  | 15,781 |  |  | 20,567 |  |  | 10,961 |
Interest expense |  | 140,659 |  |  | 91,630 |  |  | 120,346 |
Interest income |  | (31,903) |  |  | (19,854) |  |  | (5,774) |
Loss on extinguishment of debt |  | 483 |  |  | — |  |  | 67,605 |
Other non-operating income |  | 233 |  |  | 928 |  |  | 1,534 |
Income tax expense |  | 195,930 |  |  | 96,322 |  |  | 283,818 |
E&P Segment net income |  | $ | 770,293 |  |  | $ | 817,880 |  |  | $ | 1,111,952 |
___________________________________________ Note: There are no reconciling items between net income presented on the accompanying statements of operations and E&P Segment net income.

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- Definition The entire disclosure for reporting segments including data and tables. 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